FAWER(SZ:000030)2016-04-20 16:00Financial Performance - The company's operating revenue for 2015 was ¥4,331,513,542.49, a decrease of 13.54% compared to ¥5,010,012,325.87 in 2014[19]. - The net profit attributable to shareholders for 2015 was ¥503,221,359.53, down 19.66% from ¥626,375,268.87 in 2014[19]. - The net cash flow from operating activities was ¥333,651,081.78, a decrease of 7.28% compared to ¥359,864,277.12 in 2014[19]. - The total assets at the end of 2015 were ¥8,085,376,947.33, an increase of 11.20% from ¥7,271,114,435.00 at the end of 2014[19]. - The net assets attributable to shareholders increased by 8.83% to ¥4,684,428,863.80 at the end of 2015 from ¥4,304,261,022.56 at the end of 2014[19]. - The basic earnings per share for 2015 was ¥0.39, down 18.75% from ¥0.48 in 2014[19]. - The company reported a total of six major product series, including environmental systems and chassis systems, covering various vehicle types[28]. - The company reported a significant decline in the commercial vehicle market, with production and sales dropping by 9.97% and 8.97% respectively[34]. - The steering and safety systems segment generated CNY 508 million in revenue, a decrease of 26.82% year-on-year[39]. - The environmental systems segment saw a revenue drop of 29.09%, totaling CNY 870 million[39]. - The company maintained a gross margin of 18.20% in the parts segment, slightly down by 0.43% from the previous year[41]. - The Northeast region accounted for 59.17% of total revenue, experiencing a decline of 20.40% year-on-year[39]. - The company reported a significant decline in sales volume for the Environmental System, down 19.64% year-over-year, with sales volume at 300.48 million units[46]. - The company experienced a 3.64% increase in sales volume for the Chassis System, reaching 1,035.08 million units sold in 2015[46]. - The sales volume for the Electronic and Electrical System dropped by 51.21%, with only 2.22 million units sold[46]. - The company’s total operating costs decreased by 11.90% to approximately 3.65 billion CNY in 2015[45]. - The company reported a total of 221.23 million CNY in related party transactions, accounting for 26.06% of the same type of transactions[99]. Cash Flow and Investments - The net cash flow from operating activities was ¥333,651,081.78, a decrease from ¥359,864,277.12 in the previous year, reflecting a decline of approximately 7.5%[199]. - The net cash flow from investing activities increased to ¥433,302,955.62, up from ¥249,056,518.45, representing a growth of about 74.1%[199]. - Cash inflow from financing activities totaled CNY 370,000,000.00, compared to CNY 320,000,000.00 in the previous year, marking an increase of 15.6%[200]. - The total cash and cash equivalents at the end of the period reached CNY 922,709,474.97, significantly higher than CNY 563,710,459.13 at the end of the previous year, indicating an increase of approximately 63.7%[200]. - The cash outflow for debt repayment was CNY 555,554,384.00, which increased from CNY 420,000,000.00, representing a rise of approximately 32.2%[200]. - Investment cash inflow increased significantly by 88.35% to ¥745,940,627.58, while investment cash outflow rose by 112.69% to ¥312,637,671.96, leading to a net cash flow from investing activities of ¥433,302,955.62, an increase of 73.98%[54]. Shareholder Information - The company plans to distribute a cash dividend of 1.5 RMB per 10 shares to all shareholders based on the total share capital as of December 31, 2015[4]. - The cash dividend payout ratio for 2015 was 38.55% of the net profit attributable to shareholders[80]. - The total number of shares for the dividend distribution is based on 1,293,251,508 shares as of the end of 2015[82]. - The net profit attributable to the parent company for 2015 was 479,978,317.91 CNY, with a retained profit of 431,980,486.12 CNY after allocating reserves[82]. - The company has committed to fulfilling its promises regarding share lock-up periods and performance compensation[83]. Corporate Governance - The company emphasizes the accuracy and completeness of the financial report, with key personnel affirming their responsibility for the report's content[3]. - The board of directors has fully attended the meeting to review the annual report, ensuring governance and oversight[4]. - The company maintains a transparent governance structure, ensuring compliance with relevant laws and regulations to protect the rights of minority investors[156]. - The company has established an independent financial management department with a separate financial accounting system and independent tax obligations[159]. - The audit committee played a crucial role in reviewing the annual audit plan and financial reports, ensuring compliance with regulatory requirements[164]. - Independent directors attended 4 board meetings, with 2 attending in person and 2 via proxy, demonstrating active participation in governance[161]. - The company has a complete and independent organizational structure, with all governance bodies operating in accordance with legal and regulatory requirements[158]. - The company has committed to maintaining independence in financial decisions and operations post-major asset restructuring, ensuring no undue influence from controlling shareholders[86]. Market and Strategic Outlook - The company has plans for market expansion and product development, although specific future projections were not detailed in the content[28]. - The automotive market in China is expected to grow steadily, with a projected sales volume of 26.85 million vehicles in 2016, reflecting a growth rate of approximately 5%[69]. - The company anticipates total revenue of ¥4.896 billion and a net profit of ¥500 million for 2016[71]. - The company aims to transition towards a technology-driven approach, becoming an innovative enterprise[71]. - The company recognizes the need to adapt to the global automotive supply chain and enhance its global development capabilities[73]. - The company will continue to monitor market changes and adjust its strategies accordingly to mitigate risks[73]. Research and Development - The company has been recognized as a high-tech enterprise, with its R&D capabilities being enhanced through collaboration with renowned parts manufacturers[30]. - Research and development efforts focused on six major system products and new energy vehicle components, indicating a strategic shift towards innovation[51]. - The company is currently in the R&D phase for new energy vehicle components, with no mass production yet[75]. - R&D expenditure decreased by 6.79% to ¥116,215,805.83, while the proportion of R&D expenditure to operating revenue increased to 2.68% from 2.49%[52]. Employee and Management Information - The total number of employees in the company is 7,080, including 4,110 in the parent company and 2,970 in major subsidiaries[150]. - The company paid a total of 501.3 million RMB in remuneration to directors, supervisors, and senior management during the reporting period[149]. - The company conducted 0.12 million training sessions, training a total of 14,000 employees with a cumulative training time of 139,000 hours[153]. - The company has established a performance assessment system for senior management to determine their remuneration levels[149]. - The company emphasizes employee training and development, aiming to enhance employee capabilities and satisfaction[114]. Compliance and Risk Management - The company strictly adheres to laws and regulations regarding safety production and environmental protection, ensuring compliance in manufacturing and sales[115]. - The company has not reported any significant matters related to its subsidiaries during the reporting period[114]. - No risks were identified by the supervisory board during the reporting period, indicating effective oversight[166]. - The company has not engaged in any securities or derivative investments during the reporting period[63][64]. - The company did not experience any major accounting errors requiring retrospective restatement during the reporting period[91].