SACO(SZ:002025)2017-04-10 16:00Financial Performance - The company's operating revenue for 2016 was CNY 2,256,403,254.80, representing a 20.44% increase compared to CNY 1,873,434,140.90 in 2015[14]. - The net profit attributable to shareholders for 2016 was CNY 261,067,169.88, an increase of 11.90% from CNY 233,312,860.48 in 2015[14]. - The total profit for 2016 was CNY 337,412,422.75, an increase of 13.96% year-on-year, while net profit reached CNY 261,067,169.88, up by 11.90%[30]. - The basic earnings per share for 2016 was CNY 0.61, a 12.96% increase from CNY 0.54 in 2015[15]. - The total comprehensive income for the year was CNY 291,798,421.00, reflecting a strong performance despite market challenges[193]. Assets and Liabilities - The total assets at the end of 2016 were CNY 3,715,081,362.97, reflecting a 14.93% increase from CNY 3,232,596,139.52 at the end of 2015[15]. - The net assets attributable to shareholders at the end of 2016 were CNY 2,155,028,285.20, a 9.81% increase from CNY 1,962,422,521.56 at the end of 2015[15]. - The company's total liabilities were not explicitly stated, but accounts payable rose to CNY 626,775,538.69 from CNY 463,757,365.19, marking an increase of about 35%[184]. - The total non-current assets amounted to CNY 722,505,087.16, an increase from CNY 629,037,221.56, reflecting a growth of approximately 15%[184]. Cash Flow - The net cash flow from operating activities for 2016 was CNY 241,167,895.37, a decrease of 41.44% compared to CNY 411,827,096.46 in 2015[15]. - The net cash flow from investment activities was negative CNY 120.14 million, a decline of 106.63% year-on-year, largely due to the cash acquisition of Jiangsu Aolei[54][56]. - The company's cash and cash equivalents at the end of 2016 were CNY 857,203,261.70, compared to CNY 816,355,710.51 at the beginning of the year, showing a growth of approximately 5%[183]. Research and Development - The company invested CNY 213,702,700 in research and development in 2016, marking a year-on-year increase of 29.76%[32]. - The company increased its R&D investment by 29.76% year-on-year, reaching approximately CNY 213.70 million, which represents 9.47% of total operating income[53]. - A total of 356 new products were developed in 2016, with a commercialization rate of 90.99%, contributing to 30.99% of total revenue[32]. Market Expansion and Strategy - The company expanded its international market presence, achieving synchronized growth in international orders and sales revenue[31]. - The company plans to focus on developing new products, including high-power relays and high-precision servo motors, to enhance its market competitiveness[68]. - The company aims to leverage opportunities in the high-tech fields of national defense and communication, supported by government policies for new electronic components[67]. Dividend Policy - The company plans to distribute a cash dividend of CNY 2.50 per 10 shares, totaling CNY 107,250,000, based on 429,000,000 shares[5]. - The cash dividend for 2016 represented 100% of the distributable profit, indicating a strong commitment to returning value to shareholders[84]. - The total cash dividends over the last three years were CNY 107,250,000 in 2016, CNY 77,220,000 in 2015, and CNY 66,000,000 in 2014, showing a consistent increase in dividend payouts[83]. Corporate Governance - The company appointed Tianzhi International Accounting Firm (Special General Partnership) as the auditor for the 2016 financial statements, with an audit fee of 400,000 RMB[94]. - The company reported no major litigation or arbitration matters during the reporting period[97]. - The company's independent directors did not raise any objections to company matters during the reporting period[166]. Employee and Management - The total number of employees in the company is 4,066, with 2,427 in production, 105 in sales, 794 in technical roles, 55 in finance, and 685 in administration[154]. - The total remuneration for directors and senior management during the reporting period amounts to 421.61 million yuan[153]. - The company has a robust employee welfare system, including regular health check-ups and cultural activities[115]. Environmental and Social Responsibility - The company has established an environmental management system and ensures compliance with pollution discharge standards through advanced treatment facilities[115]. - The company actively participates in social welfare activities, balancing corporate benefits with social impact[115].