QUICK CO.,(SH:603203)2017-04-21 16:00Financial Performance - The company's operating revenue for 2016 was CNY 286,209,862.49, representing a 24.42% increase compared to CNY 230,037,490.71 in 2015[18]. - The net profit attributable to shareholders for 2016 was CNY 103,196,724.33, up 26.43% from CNY 81,624,046.82 in 2015[19]. - The net profit excluding non-recurring gains and losses was CNY 98,603,037.13, reflecting a 36.69% increase from CNY 72,137,595.66 in the previous year[19]. - The cash flow from operating activities for 2016 was CNY 113,509,465.09, a 22.54% increase compared to CNY 92,633,986.54 in 2015[19]. - Total assets at the end of 2016 reached CNY 713,318,552.59, a 131.72% increase from CNY 307,842,294.40 at the end of 2015[19]. - The net assets attributable to shareholders increased to CNY 629,514,653.15, up 144.57% from CNY 257,394,305.58 in 2015[19]. - Basic earnings per share were CNY 1.46, up 23.73% from CNY 1.18 in 2015[20]. - The weighted average return on equity increased to 37.36%, up 4.32 percentage points from 33.04% in 2015[20]. Dividend Policy - The company plans to distribute a cash dividend of CNY 4.5 per 10 shares, totaling CNY 41,400,000.00, and to increase capital by issuing 3 additional shares for every 10 shares held[2]. - The company has a cash dividend policy that mandates a minimum of 20% of distributable profits to be distributed as cash dividends when profitable[72]. - For the fiscal year 2016, the company distributed cash dividends of 4.5 RMB per 10 shares, totaling 41.4 million RMB[76]. - The company’s profit distribution policy allows for differentiated cash dividends based on development stage and significant capital expenditure plans[73]. - The company has not made any adjustments to its cash dividend policy during the reporting period[76]. Risk Management - The company has identified potential risks in its operations and has outlined corresponding countermeasures in its report[5]. - The company faces risks from intensified market competition as it expands into the industrial automation sector[64]. - The company must continuously upgrade technology and develop new products to maintain its competitive advantage in a rapidly evolving market[66]. - There is a risk of accounts receivable bad debts increasing due to higher sales of specialized industrial robots and automation equipment, which could impact normal cash flow and operational performance[67]. - The rapid demand changes in downstream sectors pose a risk of inventory impairment, as some raw materials may become obsolete[68]. Research and Development - The company focuses on R&D innovation, continuously investing in advanced welding and automation technologies[30]. - R&D expenditure amounted to CNY 12.98 million, up 12.63% from the previous year, representing 4.53% of operating revenue[34]. - The company aims to enhance its product R&D and production capacity through fundraising projects, improving its competitive edge in specialized industrial robots and automation equipment[61]. - The company plans to enhance its R&D capabilities in soldering technology and electronic equipment manufacturing[181]. Market Position and Strategy - The company has established a strong customer base, including well-known clients such as Foxconn and BYD, enhancing its market position[28]. - The company is actively pursuing market expansion and technological innovation, evidenced by the successful completion of key R&D projects and patent applications[31]. - The company plans to strengthen its presence in the Pearl River Delta region to enhance product R&D, design, and assembly services[62]. - The company plans to expand its market presence through new product development and technological advancements in electronic equipment[179]. Audit and Compliance - The company has received a standard unqualified audit report from its auditing firm, ensuring the accuracy of its financial statements[4]. - The board of directors and senior management have confirmed the authenticity and completeness of the annual report, taking legal responsibility for its content[4]. - The company has established strict guidelines for related party transactions to ensure compliance with market principles and avoid conflicts of interest[83]. - The company has not engaged in any activities that would lead to a risk of suspension or termination of its listing status[87]. Shareholder Commitments - The actual controller and major shareholders committed not to transfer or entrust others to manage their shares for 36 months from the date of the company's stock listing, effective from November 8, 2016, to November 7, 2019[79]. - The shareholders guaranteed that any reduction in their holdings within 2 years after the lock-up period would not be lower than the issue price, applicable from November 8, 2019, to November 7, 2021[79]. - The commitments are part of the company's broader strategy to enhance shareholder confidence and market perception post-IPO[79]. Financial Position - The company reported a total current assets of RMB 588,459,198.01 as of December 31, 2016, an increase from RMB 249,227,433.05 at the beginning of the year, representing a growth of approximately 136.3%[146]. - The company's inventory rose to RMB 38,341,205.80 from RMB 29,648,303.58, reflecting an increase of approximately 29.2%[146]. - The total equity attributable to shareholders increased to CNY 614,154,111.48 from CNY 247,742,072.37, representing a growth of about 147%[151]. - The company’s asset-liability ratio at the end of the reporting period was 11.75%, indicating a strong financial position[105]. Governance and Management - The company has a governance structure that includes a board of directors, a supervisory board, and various specialized committees to ensure effective management and oversight[131]. - The company has implemented a series of internal regulations to enhance governance and operational standards[132]. - The independent directors did not raise any objections regarding company matters during the reporting period[135]. - The company did not disclose any significant internal control deficiencies during the reporting period[136].