GETM(SH:600232)2018-05-24 16:00Financial Performance - The company's operating revenue for 2017 was RMB 1,232,715,844.51, representing a 19.69% increase compared to RMB 1,029,898,823.56 in 2016[20] - The net profit attributable to shareholders for 2017 was RMB 25,251,432.02, a decrease of 13.09% from RMB 29,056,357.69 in 2016[20] - The basic earnings per share for 2017 was RMB 0.07, down 12.50% from RMB 0.08 in 2016[21] - The weighted average return on equity for 2017 was 2.16%, a decrease of 0.31 percentage points from 2.47% in 2016[21] - The net cash flow from operating activities for 2017 was RMB 40,429,542.49, a decline of 31.88% compared to RMB 59,350,176.29 in 2016[20] - The company reported a decrease in net profit after deducting non-recurring gains and losses, which was RMB 15,315,771.29, down 15.26% from RMB 18,074,862.07 in 2016[20] - The total operating costs amounted to ¥1,202,402,458.36, up 20.5% from ¥997,997,725.51 in 2016[149] - The total profit for 2017 was 18,933,127.25 RMB, a decrease of 38.9% compared to 30,967,886.10 RMB in the previous year[153] Revenue and Sales - The company's revenue for Q1 was approximately CNY 202.77 million, Q2 was CNY 312.27 million, Q3 was CNY 335.81 million, and Q4 was CNY 381.86 million, showing a steady increase throughout the year[23] - The revenue from specialized machinery equipment increased by over 50%, reaching nearly ¥600 million, with textile machinery and accessories up by 33.86% and injection molding machines and accessories up by 68.07%[40] - Domestic revenue reached CNY 790.62 million, up 20.22% year-on-year, while overseas revenue was CNY 430.13 million, an increase of 17.64%[47] - The company achieved operating revenue of ¥1,232,715,844.51, an increase of 19.69% compared to the previous year[39] Assets and Liabilities - The total assets at the end of 2017 were RMB 1,773,169,153.14, reflecting a 6.04% increase from RMB 1,672,137,966.27 in 2016[20] - The total equity attributable to shareholders at the end of 2017 was RMB 1,164,861,248.17, a slight decrease of 0.95% from RMB 1,176,081,670.55 in 2016[20] - Current liabilities rose to ¥571,717,355.56 from ¥468,171,859.48, reflecting an increase of around 22.14%[145] - Total liabilities increased to ¥576,067,663.89 from ¥473,482,126.83, representing a growth of approximately 21.73%[145] Cash Flow - The net cash flow from operating activities was negative in Q1 (CNY -31.39 million), Q2 (CNY -9.36 million), and Q3 (CNY -29.69 million), but turned positive in Q4 with CNY 110.86 million, indicating improved cash generation[23] - The company's cash flow from operating activities decreased by 31.88% to ¥40,429,542.49[46] - The cash flow from investing activities was -61,592,641.29 RMB, worsening from -11,702,850.76 RMB in the previous year[157] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 1 per 10 shares based on the total share capital as of December 31, 2017[5] - The company reported a cash dividend payout ratio of 144.43% for the year 2017, with a total cash dividend amounting to 36,471,854.40 RMB[72] - The company has established a three-year shareholder dividend return plan for 2018-2020, pending approval at the 2017 annual shareholder meeting[71] Market and Competition - The company has acknowledged potential operational and market competition risks in its report[7] - The textile machinery segment is a competitive advantage for the company, with a leading position in the industry after acquiring the UK-based manufacturer Makie, enhancing its technological capabilities[30] - The company faces risks from intensified market competition, rising raw material costs, and potential changes in government subsidy policies for new energy vehicles[68] Research and Development - The company’s R&D expenditure rose to over ¥30 million, a growth of nearly 20% compared to the previous year[42] - The company aims to enhance its R&D investment in automation and technology for textile machinery to meet rising customer demands for efficiency and stability[61] - The company is investing in the development of high-end ternary materials for batteries, which are increasingly important in the electric vehicle market, with a focus on NCM523 and NCM622 materials[34] Environmental and Social Responsibility - The company has committed to enhancing safety and environmental protection measures, aiming to become a leader in green transformation[68] - The company has implemented strict environmental management practices, ensuring that all pollutant emissions meet national standards without exceeding limits[88] - The company reported a total charitable contribution of RMB 1,267,826 in 2017, including cash donations of RMB 500,000 and RMB 600,000 to local charities[84] Governance and Compliance - The company has appointed Tianjian Accounting Firm as its financial and internal control auditor for the 2017 fiscal year, with an audit fee of 1.08 million RMB[76] - The company emphasizes transparency in information disclosure, fulfilling obligations in a timely and accurate manner to maintain investor trust[125] - The board of supervisors actively monitors the legality and compliance of the company's operations, ensuring protection of shareholder interests[124] Employee and Management - The total number of employees in the parent company is 1,443, and the total number of employees in major subsidiaries is 707, resulting in a combined total of 2,150 employees[118] - The company has established a layered and categorized training system, combining internal and external training methods[120] - The company adheres to national labor laws and regulations, ensuring fair and competitive compensation for employees[119]