Sino-Microelectronics(SH:600360)2017-04-18 16:00Financial Performance - The company's operating revenue for 2016 was CNY 1,395,863,516.46, representing a year-on-year increase of 7.32% compared to CNY 1,300,659,652.87 in 2015[17]. - The net profit attributable to shareholders for 2016 was CNY 40,618,659.76, a decrease of 5.55% from CNY 43,007,734.35 in 2015[17]. - The net cash flow from operating activities decreased by 68.02% to CNY 75,750,345.27 from CNY 236,854,045.78 in 2015[18]. - The total assets at the end of 2016 were CNY 3,685,177,303.66, an increase of 2.88% from CNY 3,581,882,634.78 at the end of 2015[18]. - The company's net assets attributable to shareholders increased by 1.57% to CNY 2,026,430,804.03 from CNY 1,995,194,387.60 in 2015[18]. - The basic earnings per share for 2016 remained unchanged at CNY 0.06 compared to 2015[19]. - The weighted average return on net assets for 2016 was 2.02%, a decrease of 0.16 percentage points from 2.18% in 2015[19]. - The company achieved operating revenue of ¥1,395,863,516.46, representing a year-on-year growth of 7.32%[35]. - The net profit attributable to shareholders decreased by 5.55% to ¥40,618,659.76[35]. - The company reported a net profit margin improvement, with undistributed profits increasing to ¥693,721,742.90 from ¥670,257,410.69, a rise of approximately 3.2%[160]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 68.02% to ¥75,750,345.27, mainly due to increased payments for accounts payable[39]. - The company achieved a total cash flow from operating activities of ¥54.81 million in Q2 2016, but reported a negative cash flow of ¥5.76 million in Q3 2016[22]. - The cash inflow from sales of goods and services was CNY 1,015,319,581.54, an increase from CNY 969,389,434.06 in the previous year[173]. - The total cash outflow for operating activities was CNY 1,037,778,552.25, compared to CNY 896,709,146.57 in the previous year, indicating a 15.7% increase[173]. - The ending balance of cash and cash equivalents was CNY 1,332,870,280.91, up from CNY 1,144,640,239.34 at the beginning of the year[172]. Research and Development - Research and development expenditure accounted for over 6% of operating revenue, focusing on fourth and sixth generation IGBT products, COOLMOS products, and TRENCH SBD[31]. - The company has established a comprehensive product system in power semiconductor devices, including high-end diodes and sixth-generation IGBTs, positioning itself as a competitive supplier in the market[26]. - The company is actively expanding into strategic sectors such as new energy vehicles and military applications, which have shown promising results[26]. - The company emphasizes innovation in product and technology, aiming to enhance its capabilities in providing comprehensive solutions to customers[28]. - The company has a significant focus on the development of third-generation SiC and GaN devices, which are anticipated to be the future trend in power devices[68]. Market Position and Strategy - The company has been recognized as one of the top ten semiconductor power device companies in China for 2016, reflecting its industry leadership[28]. - The company is entering a critical period of product and market transformation, with potential risks if progress in strategic and emerging industries does not meet expectations[74]. - The company aims to establish itself as a leading player in the power semiconductor industry by the end of the 13th Five-Year Plan, striving for international recognition[70]. - The company is actively exploring new opportunities in the domestic power semiconductor market, driven by the demand for localization in key industries[67]. - The company plans to upgrade its production lines based on existing 4, 5, and 6-inch platforms to enhance process capabilities and develop third-generation materials like SiC and GaN[72]. Shareholder and Corporate Governance - The company plans to distribute a cash dividend of CNY 0.20 per 10 shares, totaling CNY 14,761,600.00 for the year[2]. - The company has a dividend policy that mandates a minimum cash distribution of 20% of the distributable profit, provided certain conditions are met[76]. - The total number of ordinary shareholders at the end of the reporting period was 81,818, an increase from 78,244 at the end of the previous month[103]. - The largest shareholder, Shanghai Pengsheng Technology Industry Co., Ltd., held 173,502,466 shares, representing 23.51% of the total shares[106]. - The company has committed to not sell shares held by directors and senior management for 24 months after increasing their holdings, starting from July 31, 2015[80]. Risk Management and Compliance - There were no significant risks that materially affected the company's operations during the reporting period[4]. - The company did not engage in any non-operating fund occupation by controlling shareholders or related parties[4]. - The internal control audit report issued by Zhonghua Accounting Firm confirmed effective financial reporting internal controls as of December 31, 2016[138]. - The company has not identified any insider trading incidents related to sensitive information during the reporting period, ensuring fair information disclosure[134]. - The company maintains independence from its controlling shareholder, with no related party transactions occurring[131]. Employee and Management - The total number of employees in the parent company and major subsidiaries is 2,256, with 1,631 in the parent company and 625 in subsidiaries[124]. - The company has implemented a performance-based compensation system for senior management, linking annual pay to the achievement of economic indicators[125]. - The company conducted training for employees, with an average of nearly 40 hours of training per employee in 2016[127]. - The total remuneration for the board members and senior management during the reporting period amounted to 1,595,245 yuan, with an average of 194.19 yuan per person[114]. - The company has established a fair and transparent performance evaluation standard for senior management[125]. Financial Position and Assets - The company's total assets increased, with other receivables rising by 52.94% to ¥15,129,636.70[54]. - The company's total liabilities to assets ratio was 45.38%, slightly up from 44.57% in 2015, indicating a 0.81% increase[148]. - The company's fixed assets decreased to CNY 1,148,634,027.58 from CNY 1,239,110,498.86, showing a decline in asset value[158]. - The company’s total liabilities and equity reached ¥3,685,177,303.66, up from ¥3,581,882,634.78, indicating a growth of approximately 2.9%[163]. - The company has a total share capital of 738,080,000.00, consistent with the previous year, indicating stability in share issuance[188].