QCEC(SH:600218)2017-03-27 16:00Financial Performance - The company's total revenue for 2016 was CNY 2,980,986,958.97, representing a 4.37% increase compared to CNY 2,856,191,238.85 in 2015[20] - The net profit attributable to shareholders for 2016 was CNY 94,891,418.81, an increase of 23.19% from CNY 77,030,225.80 in 2015[20] - The net cash flow from operating activities reached CNY 506,262,426.60, a significant increase of 265.92% compared to CNY 138,351,918.97 in 2015[20] - The basic earnings per share for 2016 was CNY 0.26, an increase of 18.18% from CNY 0.22 in 2015[21] - The net profit after deducting non-recurring gains and losses was CNY 58,414,110.71, reflecting a 44.59% increase from CNY 40,401,103.95 in 2015[20] - The company achieved a total sales volume of 318,700 multi-cylinder engines in the reporting period, marking a year-on-year growth of 6.84%[32] - The total revenue for the year reached ¥2.98 billion, reflecting a growth of 4.37% compared to the previous year[32] - The net profit attributable to the parent company was ¥94.89 million, representing a year-on-year increase of 23.19%[32] Assets and Liabilities - The company's total assets as of the end of 2016 were CNY 3,411,757,630.01, up 12.03% from CNY 3,045,293,103.39 at the end of 2015[20] - The company's net assets attributable to shareholders at the end of 2016 were CNY 1,876,800,108.49, a 3.88% increase from CNY 1,806,660,419.15 at the end of 2015[20] - The total liabilities increased to CNY 1,504,680,904.66 from CNY 1,206,991,469.09, reflecting a rise of about 24.7%[130] - The total owner's equity reached CNY 1,907,076,725.35, up from CNY 1,838,301,634.30, indicating an increase of approximately 3.8%[131] Cash Flow - The net cash flow from operating activities increased by 265.92% year-on-year to ¥506,262,426.60, primarily due to increased use of bank acceptance bills for settling payments[44] - Cash and cash equivalents at the end of 2016 were CNY 381,662,428.12, compared to CNY 284,993,242.41 at the beginning of the year, marking a growth of about 33.9%[129] - The company reported cash and cash equivalents at the end of the period amounting to ¥348,997,922.98, up from ¥275,148,099.73 at the beginning of the period[143] Dividends and Profit Distribution - The company plans to distribute a cash dividend of CNY 0.8 per 10 shares, totaling CNY 29,500,400.00, with remaining undistributed profits carried forward to future years[4] - The total distributable profit for 2016, after accounting for previous distributions and reserves, was 353,414,612.54 RMB[62] - The cash dividend distribution ratio for the current profit distribution is not less than 20% of the total profit available for distribution[58] Research and Development - Research and development expenses increased by 14.78% to ¥109.05 million compared to the previous year[34] - Research and development expenses totaled ¥109,053,366.76, accounting for 3.66% of total revenue, with 351 R&D personnel making up 11.16% of the total workforce[43] Market Position and Strategy - The company maintained a strong market position in the small and medium power diesel engine segment, with over 4 million units in the market[27] - The company is actively engaged in developing engines that meet the latest emission standards, including the national sixth stage for vehicle engines[28] - The company is focusing on developing high-end and environmentally friendly products to meet increasing market demands due to upgraded environmental standards[50] Financial Management - The company aims to strengthen internal cost management to counteract market risks arising from rising raw material prices and intensified competition[53] - The company has increased its accounts payable through notes payable, which rose by 262.11% to ¥249,700,000.00, reflecting a shift in payment methods[45] Corporate Governance - The company strictly adheres to corporate governance regulations, ensuring compliance with laws and enhancing internal control systems[109] - The board of directors has established various committees, including an audit committee, to support scientific decision-making and ensure transparency[110] - The company maintains independence from its controlling shareholder, ensuring autonomous operations without interference[118] Employee Management - The total number of employees in the parent company is 2,251, while the main subsidiaries have 893 employees, resulting in a total of 3,144 employees[103] - The company emphasizes training for high-skilled and high-technical talents to enhance its competitive human resources[105] - The company implements a performance-based salary system, with a focus on production peak season incentives[104] Legal and Compliance - There were no major lawsuits or arbitration matters reported during the year[68] - The company and its major stakeholders did not face any administrative penalties or public reprimands from the China Securities Regulatory Commission[68] Financial Instruments and Investments - The company has engaged in cash asset management through entrusted financial products, with a total investment of 400 million yielding 4.70%[75] - The company has a total of CNY 120.014 million in various financial products, with CNY 92.314 million in guaranteed income products[76] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,485, an increase from 24,294 at the end of the previous month[87] - The largest shareholder, Anhui Quanchai Group Co., Ltd., holds 126,542,500 shares, representing 34.32% of the total shares[87] Risk Management - The company has a structured approach to risk management, with no significant risks reported during the period[118] - The company has maintained its continuous operation basis, with no identified issues affecting its ongoing viability[166]