Tederic(SH:603289)2018-04-09 16:00Financial Performance - In 2017, the net profit attributable to shareholders of the parent company was CNY 83,514,191.79, while the net profit of the parent company was CNY 80,215,933.52 after a 10% statutory surplus reserve of CNY 8,021,593.35 was deducted[5]. - The distributable profit for the parent company at the end of 2017 was CNY 249,100,925.72 after distributing cash dividends of CNY 12,240,000.00[5]. - The proposed profit distribution plan includes a cash dividend of CNY 1.30 per 10 shares, totaling CNY 26,520,000.00, and a capital reserve increase of 61,200,000 shares, raising the total share capital to 265,200,000 shares[5]. - The company reported a cumulative undistributed profit of CNY 249,100,925.72 as of December 31, 2017[5]. - The company's operating revenue for 2017 was RMB 703,174,643.91, representing a year-on-year increase of 37.31% compared to RMB 512,120,086.34 in 2016[22]. - The net profit attributable to shareholders of the listed company for 2017 was RMB 83,514,191.79, an increase of 13.41% from RMB 73,638,934.30 in 2016[22]. - The net cash flow from operating activities decreased by 36.76% to RMB 69,378,234.03 in 2017 from RMB 109,705,027.17 in 2016[22]. - The total assets at the end of 2017 were RMB 1,276,725,602.25, a 71.51% increase from RMB 744,418,682.04 at the end of 2016[22]. - The basic earnings per share for 2017 was RMB 0.52, an increase of 8.33% compared to RMB 0.48 in 2016[23]. - The weighted average return on equity for 2017 was 15.11%, a decrease of 2.17 percentage points from 17.28% in 2016[23]. Risk Management and Compliance - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties[8]. - The company has not violated decision-making procedures for external guarantees[8]. - The report includes a detailed description of potential risks that the company may face in its future development[8]. - The audit report issued by Tianjian Accounting Firm was a standard unqualified opinion[4]. - The company’s board of directors and senior management guarantee the authenticity and completeness of the annual report[9]. Product Development and Market Strategy - The company’s main product line includes the Dream series injection molding machines, which are modularly designed to meet diverse customer needs[31]. - The Dream series injection molding machines are widely used in various industries, including automotive, home appliances, and medical sectors[31]. - The company aims to support the automation and informationization of the plastic processing industry, aligning with China's "Made in China 2025" strategy[31]. - The company focuses on independent R&D while collaborating with universities and research institutions to enhance innovation[45]. - The company aims to improve manufacturing processes through smart technology integration, enhancing operational efficiency[48]. - The company is committed to developing energy-efficient and precise plastic processing equipment, aligning with national industry standards[49]. - The company’s injection molding machines are designed to meet various multi-component product molding requirements, expanding application fields[39]. Industry Overview - In 2017, the revenue of China's plastic molding equipment industry reached 67.064 billion CNY, with a profit of 6.914 billion CNY, reflecting a significant growth trajectory[52]. - The global demand for plastic processing machinery is projected to grow at an annual rate of 6.9%, reaching a sales value of 37.1 billion USD by 2017, with China leading the market[51]. - The plastic machinery industry is classified as a high-end equipment manufacturing sector, supported by national policies[46]. - The plastic machinery industry is closely linked to downstream applications, with significant demand in sectors such as construction, automotive parts, and packaging materials[56]. Shareholder and Stock Management - The company has a cash dividend policy that mandates a minimum of 20% of distributable profits to be distributed as cash dividends when profits are positive[118]. - The company declared a cash dividend of 0.80 RMB per 10 shares for the year 2016, totaling 12,240,000 RMB (including tax) distributed to shareholders[120]. - For the year 2017, the company achieved a net profit attributable to shareholders of 83,514,191.79 RMB, with a cash dividend proposal of 1.30 RMB per 10 shares, amounting to 26,520,000 RMB (including tax) to be distributed[122]. - The cash dividend for 2017 represents 31.76% of the net profit attributable to shareholders, compared to 16.62% for 2016[124]. - The company has maintained its cash dividend policy, ensuring that at least 20% of the distributable profits are allocated as cash dividends each year[119]. Corporate Governance - The company has not made any adjustments to its cash dividend policy during the reporting period[119]. - The company’s independent directors support the profit distribution plan, emphasizing its alignment with the company's sustainable development and shareholder interests[122]. - The company emphasizes a long-term holding strategy for its shares, with careful planning for any future reductions based on market conditions[130]. - The company will ensure timely and accurate information disclosure in accordance with stock exchange regulations[130]. - The company acknowledges the importance of adhering to commitments and has apologized to shareholders for any potential non-compliance[129]. Research and Development - The company has invested in over 20 advanced testing and CAD software tools to strengthen its R&D infrastructure[64]. - The company has established partnerships with universities and research institutions to enhance its R&D capabilities and shorten product development cycles[64]. - The company is committed to maintaining a leading position in technology through continuous research and development, and collaboration with educational institutions[106]. - The R&D focus includes the development of large hydraulic two-plate injection machines (over 800 tons) and direct-drive all-electric injection molding machines (under 600 tons)[110]. Financial Management - The company reported a significant increase in financing activities, with net cash flow from financing activities reaching ¥323,618,583.54, a 1,446.26% increase[92]. - The balance of accounts payable increased to ¥221,150,001.16, a 34.85% rise year-on-year, reflecting higher raw material procurement[96]. - The company has committed to using up to RMB 300 million of idle funds for structured deposits or wealth management products, with a focus on low-risk and high-liquidity investments[169]. - The company has achieved actual returns of RMB 16.34 million from structured deposits with an annualized return of 4.20%[165]. Employee Welfare and Corporate Responsibility - The company has established various employee welfare programs, including training and support funds for employees and their children[1]. - The company has a strong commitment to employee rights and welfare, enhancing corporate cohesion and development[1]. - The company has actively engaged in employee training programs to facilitate the transition of graduates into the workforce[1]. Market Expansion and Strategic Initiatives - The company plans to enhance market channel construction in regions such as East China, Southwest, and North China, as well as in Europe, the Middle East, South America, and Southeast Asia[71]. - The company is strategically moving towards smart manufacturing, aiming to provide comprehensive solutions for the plastic processing industry in line with Industry 4.0[107]. - The company is considering strategic acquisitions to enhance its market position, with a budget of $100 million allocated for potential deals[200].