SNAT(SH:600841)2016-03-25 16:00Financial Performance - The company achieved a consolidated net profit attributable to shareholders of RMB 92,932,886.54 in 2015, a decrease of 38.12% compared to RMB 150,170,703.18 in 2014[21]. - The total operating revenue for 2015 was RMB 2,163,184,637.90, down 22.10% from RMB 2,776,888,016.80 in 2014[21]. - Basic earnings per share for 2015 were RMB 0.11, a decline of 38.12% from RMB 0.17 in 2014[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 70,363,036.21, a decrease of 45.58% from RMB 129,301,551.81 in 2014[21]. - In 2015, the company's operating revenue decreased by 22.10% year-on-year to RMB 2,163,184,637.90, while net profit attributable to shareholders fell by 38.12% to RMB 92,932,886.54[40][41]. Cash Flow and Assets - The company reported a net cash flow from operating activities of RMB 397,177,172.86, an increase of 48.02% compared to RMB 268,323,637.95 in 2014[21]. - The company's cash and cash equivalents increased by 26.70% from the previous period, reaching ¥1,979,589,623.25, primarily due to increased net cash inflow from operating activities[54]. - The total assets at the end of 2015 were RMB 5,319,430,634.32, a slight decrease of 0.94% from RMB 5,369,956,248.73 at the end of 2014[21]. - The company achieved a net cash flow from operating activities of RMB 356,833,714.82, an increase of 30.5% compared to RMB 273,482,007.15 in the previous year[170]. - The cash balance at the end of 2015 was RMB 1,913,430,423.19, an increase from RMB 1,493,906,716.68 at the end of the previous year[170]. Dividends and Shareholder Returns - The company proposed a cash dividend of RMB 0.35 per 10 shares, subject to approval at the shareholders' meeting[5]. - The company distributed dividends totaling RMB 45,226,296.86 during the year, compared to RMB 51,176,587.25 in the previous year, indicating a decrease of 11.5%[172]. - The company did not propose a cash dividend distribution plan for 2015, despite having positive distributable profits, adhering to its policy of transparency and stability[79]. - The company has a cash dividend policy that prioritizes reasonable returns to investors, with a commitment to distribute at least 30% of the average distributable profit over the last three years[73]. Sales and Market Performance - In 2015, the company sold 52,158 diesel engines, a decrease of 18.24% compared to 63,797 units sold in the previous year[35]. - Domestic revenue decreased by 24.04% to RMB 2,030,785,210.51, while international revenue increased by 27.92% to RMB 132,399,427.39[44]. - The domestic market for construction machinery and commercial vehicles is expected to remain low, with a 44% decline in loader sales and a 10.9% decline in commercial vehicle sales in 2015[56]. - The company aims to sell 68,000 diesel engines in 2016, targeting revenue of ¥2.715 billion[69]. Research and Development - Research and development expenses amounted to RMB 116,458,076.10, representing 5.38% of operating revenue, with a total of 303 R&D personnel, accounting for 15.91% of the company's total workforce[49]. - The company emphasizes technological innovation and has made progress in developing new green and energy-efficient engines[32]. - The company has a strong research and development team with multiple patents, ensuring compliance with national emission standards[32]. - The company received a total of 8 authorized patents in 2015, including 5 utility model patents and 3 design patents[37]. Related Party Transactions - The company reported significant related party transactions, with the largest being sales to SAIC Maxus Automotive Co., Ltd. amounting to CNY 447,210,010.96, representing 20.67% of similar transaction amounts[88]. - The company engaged in various purchases from related parties, with the highest being from Shanghai Automotive Import and Export Co., Ltd. at CNY 46,189,973.90, accounting for 2.69% of similar transaction amounts[86]. - The company’s related party transactions are primarily conducted at market prices, ensuring compliance with fair pricing standards[86]. - The company continues to monitor and evaluate its related party transactions to ensure transparency and compliance with regulatory standards[86]. Corporate Governance - The company appointed Ernst & Young Hua Ming as the auditor for the annual report, with a fee of 1 million RMB (excluding tax) for the audit services[82]. - The internal control audit was also conducted by Ernst & Young Hua Ming, with a fee of 283,000 RMB[82]. - The company has committed to avoiding competition with its controlling shareholder, Shanghai Automotive, and will not operate any competing businesses[80]. - The company has no penalties from securities regulatory agencies in the past three years, indicating compliance with regulations[127]. Employee and Management Structure - The total number of employees in the parent company is 1,796, while the total number of employees in major subsidiaries is 109, resulting in a combined total of 1,905 employees[128]. - The company emphasizes a compensation policy that aligns employee income with corporate performance, ensuring fairness and competitiveness in the market[129]. - The board of directors convened seven meetings during the reporting period, with all directors fulfilling their responsibilities diligently and independently[138]. - The company appointed new executives, including a new vice president and financial director, to align with its strategic goals[126].