Windey(SZ:300772)2020-03-19 16:00Financial Performance - The company's operating revenue for 2019 was ¥5,010,260,787.05, representing a 51.29% increase compared to ¥3,311,767,650.60 in 2018[30]. - The net profit attributable to shareholders for 2019 was ¥106,575,624.36, a decrease of 11.46% from ¥120,373,884.95 in 2018[30]. - The net cash flow from operating activities increased significantly by 599.28% to ¥1,435,885,465.30 from ¥205,338,182.89 in 2018[30]. - The total assets at the end of 2019 reached ¥11,562,878,636.21, a 75.33% increase from ¥6,594,925,188.11 at the end of 2018[30]. - The company reported a basic earnings per share of ¥0.400 for 2019, down 27.27% from ¥0.550 in 2018[30]. - The weighted average return on equity for 2019 was 8.09%, down from 13.35% in 2018[30]. - The company's operating revenue for 2019 was RMB 5,010.26 million, an increase of 51.29% year-on-year, while the net profit attributable to the parent company was RMB 106.58 million, a decrease of 11.42% year-on-year[77]. Dividend Policy - The company plans to distribute a cash dividend of 1.5 RMB per 10 shares to all shareholders based on a total of 293,960,000 shares as of December 31, 2019[12]. - The cash dividend represents 41.37% of the net profit attributable to shareholders, which was 106,575,624.36 yuan for the year 2019[198]. - The total distributable profit for the company at the end of 2019 was 456,599,466.72 yuan, with the mother company having a distributable profit of 456,599,466.72 yuan[191]. - The cash dividend payout ratio for 2019 was 100% of the total profit distribution amount[190]. - The company did not distribute any bonus shares or increase capital from the capital reserve in 2019[192]. - The cash dividend amount for 2019 was fully distributed without any other forms of cash distribution, such as share buybacks[198]. - The company’s retained earnings after the dividend distribution will be 412,505,466.72 yuan[192]. - The company’s profit distribution plan complies with relevant regulations and the company’s articles of association[190]. Market Position and Growth - The company ranked fourth in newly installed wind power capacity in China in 2019, according to Bloomberg New Energy Data[44]. - The company’s market share in the wind power industry reached 7%, ranking fourth in the industry according to Bloomberg New Energy data[76]. - The company received new orders totaling 5,870.2 MW in 2019, a year-on-year increase of 192.74%, with total orders on hand reaching 7,315.9 MW[76]. - The company is positioned to benefit from the expected historical high in new installations in 2020 as the market approaches grid parity[53]. - The company is actively pursuing market expansion through strategic investments in renewable energy projects[132]. Research and Development - The company is committed to developing new products and technologies to maintain competitive advantages in a rapidly evolving market[12]. - The company has developed a comprehensive R&D system and established a European wind power research institute, enhancing its core technology advantages in wind turbine control technology and testing[48]. - The company’s technical service team provides multi-level solutions to address issues faced by clients during project execution and post-warranty periods[49]. - The company has shifted its product development model towards series and platform-based approaches, improving market coverage and competitiveness in various segments[48]. - The company actively pursued innovation in new designs and materials, maintaining stable costs per kW despite rising commodity prices[89]. - Research and development expenses increased by 43.49% in 2019, totaling ¥182,802,352.33 compared to ¥127,395,748.87 in 2018[114]. - The number of R&D personnel rose to 214 in 2019, accounting for 16.20% of the total workforce, up from 15.44% in 2018[116]. - Total R&D investment reached ¥221,102,456.43 in 2019, representing 4.41% of operating revenue, a slight decrease from 4.78% in 2018[116]. Supply Chain and Operational Risks - The reliance on suppliers for key components poses a risk; any delays or price increases from suppliers could negatively impact production schedules and profit margins[8]. - The company faces risks related to policy changes that could impact the investment enthusiasm of downstream wind power developers, directly affecting product sales[7]. - The company is actively monitoring industry developments to mitigate risks associated with technological advancements and market shifts[11]. - The company recognizes the need for rapid technological advancement in the wind power sector to meet evolving market demands and avoid losing competitive advantages[168]. - The company relies on specialized suppliers for component production, which poses risks if suppliers fail to deliver on time or increase prices significantly[167]. Strategic Focus and Future Outlook - The company emphasizes the importance of optimizing the supply chain and enhancing product quality to meet customer demands and industry trends[12]. - The company aims to become a leading supplier of full lifecycle system solutions in the renewable energy industry, focusing on technological innovation and sustainable development[164]. - The company will focus on product development tailored to different market characteristics, including high wind speed and low wind speed applications[165]. - The company is committed to maintaining a stable and continuous profit distribution policy to ensure sustainable development[178]. - The company anticipates a significant increase in renewable energy's share in the global power generation mix, with wind energy expected to rise from 7% to 26% by 2030[159].