SEC(SH:603988)2016-04-24 16:00Financial Performance - The company achieved a net profit attributable to shareholders of RMB 42,770,470.90 in 2015, a decrease of 21.29% compared to RMB 54,340,124.75 in 2014[16]. - The total revenue for 2015 was RMB 276,366,551.91, down 16.38% from RMB 330,501,733.49 in 2014[16]. - The basic earnings per share decreased by 38.37% to RMB 0.53 in 2015 from RMB 0.86 in 2014[17]. - The weighted average return on equity fell to 6.89% in 2015, down 8.24 percentage points from 15.13% in 2014[17]. - The company reported a net cash flow from operating activities of RMB 18,222,614.83, a significant improvement from a negative cash flow of RMB -5,478,106.36 in 2014[16]. - The company achieved a total revenue of 27,637,000 RMB in 2015, a decrease of 16.38% compared to the previous year, and a net profit of 4,277,000 RMB, down 21.29% year-on-year, exceeding the annual plan by 6.93%[33]. - The operating profit for the year was CNY 48,798,861.19, a decrease of 6.4% from CNY 52,177,627.91 in 2014[151]. - The company's comprehensive income for the year was ¥42,770,470.90, contributing to the increase in retained earnings[156]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 1.70 per 10 shares, totaling RMB 13,600,000.00, which represents 31.80% of the net profit attributable to shareholders[2]. - The company reported a cash dividend of 1.70 yuan per 10 shares for the 2015 fiscal year, amounting to 13.6 million yuan[83]. - The company plans to distribute a cash dividend of 2.00 yuan per 10 shares for the 2014 fiscal year, totaling 16 million yuan[83]. Assets and Liabilities - Total assets at the end of 2015 were RMB 806,437,458.61, a slight increase of 0.64% from RMB 801,295,225.64 at the end of 2014[16]. - The company’s net assets attributable to shareholders increased by 4.40% to RMB 635,754,303.07 at the end of 2015 compared to RMB 608,983,832.17 at the end of 2014[16]. - The total liabilities decreased to CNY 170,683,155.54 from CNY 192,311,393.47, a reduction of 11.2%[149]. - The cash and cash equivalents at the end of the period were CNY 109,667,582.47, down 69.5% from CNY 359,869,344.53 at the beginning of the period[148]. Research and Development - The company maintained a strong focus on R&D, completing new products such as the S series electric motor and diesel generator in 2015, enhancing its product variety and competitiveness[27]. - The company reduced research and development expenses by 22.53%, totaling 9,769,255.27 RMB compared to 12,609,805.09 RMB in the previous year[41]. - The number of R&D personnel was 115, accounting for 29.95% of the total workforce[53]. - The company continued to innovate in technology and processes, adding 6 new authorized invention patents and receiving recognition for its high-efficiency direct current motor as a high-tech product in Jiangsu Province[36]. Market and Competition - The company has established a robust customer base, exporting products to over 30 countries, including the USA, Germany, and India, which strengthens its market presence[29]. - The company focused on market expansion by analyzing macroeconomic trends and diversifying into new sectors such as mining and wind energy, while also developing international markets[35]. - The company’s economic efficiency index ranked fifth among peers in the small and medium-sized motor sector according to the China Electrical Equipment Industry Association[25]. - The company’s revenue from the domestic market decreased by 24.12%, while the international market revenue increased by 56.89%[45]. Risk Management - The company has outlined various risks it may face in its annual report, emphasizing the importance of investor awareness regarding these risks[3]. - The company faces risks from macroeconomic downturns, intensified market competition, exchange rate fluctuations, and potential loss of key technical personnel[80]. Governance and Compliance - The independent auditor issued a standard unqualified opinion on the company's financial statements for the year ended December 31, 2015, affirming compliance with accounting standards[145]. - The company maintained independence from its controlling shareholder in business, personnel, assets, and financial matters[135]. - The internal control audit report confirmed the effectiveness of the company's internal controls without significant deficiencies[137]. - The company has not reported any dissenting opinions from independent directors regarding board resolutions during the reporting period[133]. Employee and Management - The total number of employees in the parent company is 384, with 238 in production, 42 in sales, 72 in technical roles, 5 in finance, and 27 in administration[124]. - The total pre-tax remuneration paid to directors, supervisors, and senior management during the reporting period amounted to 2.4839 million yuan[121]. - The company has implemented a performance evaluation system to enhance employee execution and responsibility, aiding in talent retention[125]. - The chairman and general manager, Wang Jianyu, received a total pre-tax remuneration of 501,900 yuan[121]. Financial Management - The company reported an increase in investment income of ¥8,078,500 from entrusted financial management, contributing positively to profits[56]. - The company has engaged in low-risk wealth management products totaling CNY 11,688,480, CNY 2,000,000, and CNY 20,000,000 during the reporting period[90]. - The company’s wealth management products have generated significant returns, with some products yielding as high as 6.00%[91][92]. - The company has no significant litigation or arbitration matters during the reporting period[88].