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江铃汽车(000550) - 2015 Q4 - 年度财报
JMCJMC(SZ:000550)2016-03-18 16:00

Financial Performance - The company's operating revenue for 2015 was ¥24,527,892,839, a decrease of 3.95% compared to ¥25,537,289,610 in 2014[16]. - Net profit attributable to shareholders was ¥2,222,061,095, representing a growth of 5.42% from ¥2,107,852,075 in the previous year[16]. - The net profit after deducting non-recurring gains and losses was ¥1,588,133,439, which is an increase of 2.04% compared to ¥1,556,376,461 in 2014[16]. - The cash flow from operating activities was ¥1,925,362,501, a significant decline of 54.05% from ¥4,190,066,410 in 2014[16]. - Basic earnings per share increased to ¥2.57, up 5.42% from ¥2.44 in the previous year[16]. - Total assets at the end of 2015 reached ¥21,050,725,683, marking a 7.97% increase from ¥19,496,527,708 at the end of 2014[16]. - Net assets attributable to shareholders increased by 13.05% to ¥11,981,142,071 from ¥10,598,428,806 in 2014[16]. - The weighted average return on equity was 19.56%, down from 21.20% in the previous year, reflecting a decrease of 1.64%[16]. Sales and Production - In 2015, the company sold 257,016 vehicles, a decrease of 6.8% compared to the previous year, with total revenue of CNY 24.53 billion, down 4.0% year-on-year[30]. - The company produced 254,397 vehicles in 2015, with JMC series trucks accounting for 109,234 units and JMC series pickups for 55,469 units[32]. - The revenue from vehicle sales was CNY 22.12 billion, which constituted 90.17% of total revenue, while parts sales contributed CNY 2.18 billion, or 8.87%[34]. - The gross margin for the automotive sector was 26.08%, an increase of 0.87% from the previous year[37]. Research and Development - In 2015, the company's R&D expenditure totaled ¥1,830,992,839, representing 7.46% of operating revenue and 15% of net assets[45]. - The number of R&D personnel increased by 28.27% to 2,110, making up 13.44% of the workforce[46]. - The company has established a new national-level R&D center and launched the Ford brand SUV, enhancing its production and R&D capabilities in the SUV segment[28]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥10.30 per 10 shares, based on a total of 863,214,000 shares[3]. - The company has maintained a cash dividend policy, distributing a total of CNY 5.532 billion to shareholders over the past 12 years[67]. - The cash dividend payout ratio for 2015 was 40.01% of the net profit attributable to ordinary shareholders[74]. - The company has maintained a consistent dividend policy over the past three years, with increasing cash dividends each year[74]. Financial Management and Governance - The company has retained PwC Zhongtian as its auditor for the 2014 and 2015 fiscal years, with an audit fee of 1.8 million RMB for the current period[82]. - The audit committee confirmed that the financial statements for the year ended December 31, 2015, accurately reflect the company's financial position and operating results[158]. - The company’s financial statements were prepared in accordance with accounting standards, reflecting a true and fair view of its financial performance for the year[157]. - The company maintained effective internal control over financial reporting in all material respects as of December 31, 2015[166]. Employee and Management Structure - The total number of employees at the company as of the end of 2015 was 15,698, with a total salary expense of 167.808 million yuan, representing 6.84% of the company's operating revenue[147]. - The average salary for senior management was 1.02 million yuan per person, while the average salary for all employees was 107,000 yuan per person[147]. - The company has a structured remuneration system for senior management, which includes basic salary, short-term incentives, and long-term incentives[139]. - The company experienced a management turnover with several key personnel changes, including the resignation of two vice presidents in 2015 due to personal reasons[126]. Market Outlook and Strategy - The company aims to achieve approximately CNY 26 billion in revenue for 2016, representing a 6% increase compared to 2015[61]. - The total vehicle sales in China are expected to reach 26 million units in 2016, reflecting a 6% growth from 2015[59]. - The company plans to enhance its sales network and marketing strategies, focusing on expanding channels in lower-tier cities[61]. - New product launches, including light trucks, pickups, and light passenger vehicles, are scheduled to strengthen market share in existing segments[60].