YINGLIU(SH:603308)2016-04-27 16:00Financial Performance - The net profit attributable to the parent company for 2015 was ¥75,005,291.08, with a legal surplus reserve of ¥5,680,531.06 deducted, leaving ¥69,324,760.02 available for distribution to shareholders[2]. - The company's operating revenue for 2015 was CNY 1,345,086,440.77, a decrease of 2.27% compared to CNY 1,376,366,150.00 in 2014[21]. - The net profit attributable to shareholders was CNY 75,005,291.08, down 29.44% from CNY 106,300,584.78 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 63,313,589.33, a decline of 35.85% compared to CNY 98,703,127.45 in 2014[21]. - The weighted average return on equity decreased to 4.06%, down 2.08 percentage points from 6.14% in 2014[22]. - The basic earnings per share for 2015 was CNY 0.19, a decrease of 29.63% from CNY 0.27 in 2014[22]. - The company reported a net cash flow from operating activities of CNY 75,125,835.08, a significant increase of 812.95% compared to CNY 8,228,905.30 in 2014[21]. - The total assets of Anhui Yingliu Group Hushan Casting Co., Ltd. reached ¥218,483.86 million, with a net profit of ¥3,381.16 million in 2015[62]. Profit Distribution and Dividend Policy - The company plans not to distribute profits or increase capital reserves for 2015, with a proposal for profit distribution in mid-2016[3]. - The company emphasizes adherence to relevant laws and regulations regarding profit distribution policies to share development results with investors[3]. - The company will continue to assess various factors related to profit distribution in accordance with its policies[3]. - The board proposed not to distribute profits for the fiscal year 2015 and to conduct a profit distribution in mid-2016 instead[75]. - The company committed to a long-term dividend return plan, emphasizing stable and sustainable returns for investors while prioritizing cash dividends[79]. - The company plans to distribute cash dividends to shareholders of no less than 20% of the distributable profits each year for the next three years[80]. - The company will ensure that the dividend distribution policy is in compliance with relevant laws and regulations[79]. Risk Management - The report includes a risk statement regarding forward-looking statements, indicating potential investment risks[4]. - The company recognizes risks related to raw material price fluctuations, particularly for scrap steel and nickel, which could impact pricing stability[69]. - The company faces potential risks from exchange rate fluctuations, particularly as it exports products and conducts transactions in USD, GBP, and EUR[69]. - The company has established a complete risk management system to ensure the rights of all shareholders[91]. Research and Development - The company is focused on technological innovation and has over 100 patents, highlighting its commitment to R&D in high-end equipment components[35]. - The company established a neutron absorption material production line, marking the first of its kind in China[41]. - A strategic partnership was formed with China Nuclear Power Research and Design Institute for the design and manufacturing of key nuclear power components[42]. - The company signed a technical cooperation agreement with Beijing Aeronautical Materials Research Institute to enhance capabilities in high-temperature alloy components[42]. - Research and development expenses decreased by 14.59% to CNY 70,476,624.11, indicating a focus on cost management[46]. Financial Management - The company has a standard unqualified audit report from Tianjian Accounting Firm[5]. - The financial report is guaranteed to be true, accurate, and complete by the company's management[5]. - The company aims to optimize its financial structure and reduce its debt-to-asset ratio, which was reported at 61.96% at the end of 2015[70]. - The company reported a significant increase in net cash flow from operating activities, reaching CNY 75,125,835.08, up 812.95% from the previous year[46]. - The company has established a cash dividend policy, distributing 0.54 RMB per 10 shares for the 2014 fiscal year, totaling 21.6 million RMB[72]. Shareholder Information - The total number of ordinary shareholders was 23,990, down from 25,051 at the end of the previous month[105]. - The largest shareholder, Huoshan Yingliu Investment Management Co., Ltd., holds 132,732,130 shares, accounting for 33.18% of total shares, with 21,770,000 shares pledged[107]. - The company has a total of 132,732,130 shares under lock-up conditions, which will be tradable starting from January 23, 2017, after a 36-month restriction[109]. - The company has established commitments regarding shareholding and reduction intentions from major shareholders to maintain stability[80]. Corporate Governance - The company has complied with all relevant laws and regulations regarding corporate governance, with no significant discrepancies noted[137]. - The independent directors did not raise any objections to the board's proposals during the reporting period[140]. - The company emphasizes the importance of independent directors' opinions on dividend proposals to ensure shareholder interests are protected[80]. - The management team has extensive experience in finance and investment, which may benefit the company's strategic decisions[121]. Market Presence and Operations - The company has a strong competitive edge in the high-end equipment key component manufacturing sector, with advanced technology and a complete industrial chain[35]. - The company exported products to over 30 countries, including major clients such as General Electric and Siemens, indicating a robust international market presence[31]. - The company operates in the specialized equipment manufacturing industry, focusing on components for clean and efficient power, oil and gas valves, and machinery parts[183].