弘亚数控(002833) - 2018 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2018 was ¥1,194,487,779.14, representing a 45.59% increase compared to ¥820,460,365.06 in 2017[24]. - The net profit attributable to shareholders for 2018 was ¥270,384,992.74, a 15.31% increase from ¥234,480,457.26 in 2017[24]. - The net profit after deducting non-recurring gains and losses was ¥231,402,708.19, up 11.51% from ¥207,510,009.88 in 2017[24]. - The net cash flow from operating activities reached ¥300,052,170.18, marking a 32.81% increase from ¥225,933,049.32 in 2017[24]. - The total assets at the end of 2018 were ¥1,490,200,545.83, a 31.39% increase from ¥1,134,149,175.09 at the end of 2017[24]. - The net assets attributable to shareholders at the end of 2018 were ¥1,157,519,573.50, reflecting a 23.56% increase from ¥936,837,274.23 at the end of 2017[24]. - The company achieved total revenue of ¥1,194,487,779.14, a year-on-year increase of 45.59%[69]. - Operating profit reached ¥320,471,698.00, reflecting a growth of 19.11% compared to the previous year[69]. - The net profit attributable to shareholders was ¥270,384,992.74, marking a 15.31% increase year-on-year[69]. - Sales revenue from edge banding machines was ¥511,555,196.72, up 19.18% from the previous year[69]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 3.00 per 10 shares for the 2018 fiscal year, totaling CNY 40.26 million[138]. - In 2018, the total cash dividend (including other forms) was CNY 110.04 million, representing 40.70% of the net profit attributable to ordinary shareholders[141]. - The net profit attributable to ordinary shareholders for 2018 was CNY 270.38 million, with a cash dividend payout ratio of 29.90%[141]. - The total cash dividend, including other methods, amounts to RMB 110,042,869.54, which represents 100% of the distributable profit of RMB 602,405,413.95[142]. - The base for the profit distribution plan is 134,206,200 shares, after excluding 1,078,100 shares repurchased and not participating in profit distribution[143]. - The company has experienced a steady increase in cash dividends over the past three years, with a notable increase in the payout ratio from 13.85% in 2017 to 29.90% in 2018[141]. Research and Development - The company invested ¥45,985,300 in R&D, a 45.38% increase compared to the previous year[70]. - The company's R&D investment increased by 45.38% year-on-year, amounting to ¥45,985,288.25 in 2018, with R&D personnel rising by 192.19% to 187 individuals[90]. - Research and development (R&D) expenses accounted for 3.85% of total revenue in 2018, with core technology products contributing over 80% of total revenue in the last three years[129]. - The company focuses on automation and CNC technology in its R&D, ensuring high-quality product development and operational stability[49]. - The company has a stable R&D team and aims to maintain its technological advantage while pursuing advancements to meet global standards[129]. Acquisitions and Investments - The company acquired 75% of MASTERWOOD S.P.A. for ¥124,769,745.76, enhancing its market position in furniture machinery[102]. - The company acquired 57.25% of Guangzhou Wangshi in January 2018, which has been included in the consolidated financial statements since then[164]. - The company’s wholly-owned subsidiary, Hong Kong Hongya, acquired 75% of MASTERWOOD in April 2018, contributing to the consolidation of multiple subsidiaries[164]. - The company has acquired stakes in Guangzhou Wangshi Software Technology Co., Ltd. and Italy's MASTERWOOD S.P.A., enhancing its R&D capabilities[70]. Market Presence and Strategy - The company operates subsidiaries including Chengdu Honglin Machinery Co., Ltd. and Hong Kong Hongya Co., Ltd.[12]. - The company has established a stable dealer network, covering over 50 countries and regions, including Italy, Australia, and Russia, enhancing its market presence[51]. - The company aims to become a leading domestic and internationally recognized supplier of furniture manufacturing equipment, focusing on high-end automatic edge banding machines and CNC cutting saws[123]. - The company reported domestic revenue of CNY 823.8879 million in 2018, accounting for 68.97% of total revenue, indicating reliance on the domestic market[126]. - The company’s overseas revenue for 2018 was CNY 370.60 million, accounting for 31.03% of total revenue[129]. Financial Management - The company has entrusted financial management with a total amount of 793 million CNY, including 645 million CNY from self-owned funds and 148 million CNY from raised funds[185]. - The remaining balance of entrusted financial management is 723 million CNY, with no overdue amounts reported[185]. - The company has a strong focus on cash asset management, ensuring no overdue amounts in its financial products[185]. - The company has a diversified approach to financial management, utilizing both self-owned and raised funds[185]. Risks and Challenges - The company faces risks from international market fluctuations, particularly in regions like Europe and Southeast Asia, where it exports to over 50 countries[129]. - The company is competing with both domestic and international firms, including major players like HOMAG and BIESSE, which poses significant competitive pressure[129]. - The company has outlined its future development risks in the report, advising investors to be aware of investment risks[7].