Yoke Technology(SZ:002409)2016-03-30 16:00Financial Performance - The company's operating revenue for 2015 was CNY 1,005,734,423.61, a decrease of 23.98% compared to CNY 1,323,065,050.30 in 2014[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 66,858,898.58, an increase of 75.56% from CNY 38,083,582.69 in 2014[18]. - Basic earnings per share for 2015 were CNY 0.5428, up 49.78% from CNY 0.3624 in 2014[18]. - The company's operating revenue for 2015 was CNY 1,005.73 million, a decrease of 23.98% compared to CNY 1,323.07 million in 2014[37]. - The operating cost for 2015 was CNY 767.29 million, down 28.98% from CNY 1,080.42 million in 2014[37]. - The net cash flow from operating activities was CNY 120.51 million, a decline of 28.28% from CNY 168.02 million in the previous year[38]. - The company reported a net profit for the period of CNY 90,280,509.34, representing a 49.8% increase from CNY 60,275,357.03 in the previous period[184]. - The net profit for the year was CNY 109,017,684.36, a decrease of 3.5% compared to CNY 112,581,661.14 from the previous year[188]. Assets and Liabilities - The total assets at the end of 2015 were CNY 1,709,891,283.03, reflecting a 1.23% increase from CNY 1,689,151,490.12 at the end of 2014[18]. - The company's total liabilities decreased from CNY 410,722,964.39 at the beginning of the year to CNY 360,187,782.03 by the end of the year, representing a reduction of approximately 12.3%[176]. - The total equity attributable to shareholders increased from CNY 1,278,428,525.73 to CNY 1,349,703,501.00, reflecting a growth of about 5.6%[177]. - Cash and cash equivalents decreased from CNY 250,518,152.81 to CNY 192,403,878.84, a decline of approximately 23.1%[174]. - The company's short-term borrowings increased from CNY 131,781,802.01 to CNY 164,936,000.00, an increase of about 25.1%[176]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of CNY 1.65 per 10 shares, totaling CNY 27,000,000 based on 166,320,000 shares[7]. - The cash dividends for 2015 represented 30.40% of the net profit attributable to shareholders, which was 90,280,509.34 CNY[87]. - The company committed to a minimum cash dividend distribution of 10% of the annual distributable profit for the years 2015-2017[89]. - The company plans to maintain a cash dividend distribution of at least 30% of the average annual distributable profit over three years[89]. Research and Development - The company’s R&D investment in 2015 was CNY 48.51 million, a reduction of 27.36% from CNY 66.78 million in 2014[37]. - The company has invested in R&D to enhance its innovation capabilities, ensuring a competitive edge in the electronic materials market[78]. - The company has established a comprehensive technical R&D innovation system to improve product technology content and strengthen its competitive advantage[78]. Market and Sales - The company’s core business focuses on the production and export of organic phosphorus flame retardants, with a product range that includes over 30 varieties[27]. - Domestic sales accounted for 23.41% of total revenue in 2015, while international sales made up 76.59%, reflecting a decrease of 21.87% and 24.61% respectively compared to the previous year[40]. - The company has adopted flexible sales strategies to maintain its market leadership and improve service quality, transitioning from simple product sales to personalized solutions[35]. Investments and Acquisitions - The company made a significant equity investment of CNY 100 million (2.82% stake) in Jiangsu Huatai, focusing on industrial mergers and acquisitions[62]. - The company completed the acquisition of Zhejiang Huafei Electronic Materials Co., enhancing its product chain in the encapsulation materials sector[72]. - The company invested RMB 200 million to establish the Jiangsu Huatai Ruilian M&A Fund Center, aiming to enhance investment capabilities and achieve sustainable growth through strategic acquisitions[116]. Risk Management - The company faces risks related to exchange rate fluctuations due to significant export activities and foreign raw material sourcing[6]. - The company is actively managing risks related to exchange rate fluctuations, product certification, and human resources to safeguard its operations and market position[75][77]. Corporate Governance - The company has maintained a continuous relationship with its accounting firm for 8 years, with an audit fee of 530,000 yuan[96]. - The company has established a performance assessment mechanism for senior management to better fulfill their responsibilities and protect shareholder interests[143]. - The company emphasizes the importance of maintaining compliance with regulatory requirements regarding the roles of its directors and supervisors[143]. Employee and Social Responsibility - The company has implemented employee welfare programs, including training and benefits, to enhance employee satisfaction and retention[121]. - The total number of employees in the company is 598, with 406 in production, 23 in sales, 74 in technology, 21 in finance, and 74 in administration[145]. - The company emphasizes social responsibility, ensuring compliance with regulations to protect shareholder rights and providing quality services and products[121].