YILIDA(SZ:002686)2017-03-15 16:00Financial Performance - The company's operating revenue for 2016 was ¥987,038,772.01, representing a 23.41% increase compared to ¥799,809,505.95 in 2015[15]. - The net profit attributable to shareholders for 2016 was ¥119,850,155.13, up 24.59% from ¥96,196,028.49 in the previous year[15]. - The net profit after deducting non-recurring gains and losses was ¥103,195,360.22, reflecting a 13.60% increase from ¥90,841,614.77 in 2015[15]. - The net cash flow from operating activities reached ¥183,294,600.37, a significant increase of 103.52% compared to ¥90,060,731.30 in 2015[15]. - Basic earnings per share for 2016 were ¥0.291, up 23.83% from ¥0.235 in 2015[15]. - Total assets at the end of 2016 amounted to ¥1,666,320,074.88, a 17.83% increase from ¥1,414,175,546.67 at the end of 2015[15]. - The net assets attributable to shareholders were ¥966,903,753.82, which is a 12.45% increase from ¥859,857,183.70 in 2015[15]. - The weighted average return on equity for 2016 was 13.15%, an increase of 1.49% from 11.66% in 2015[15]. - The total revenue for 2016 reached ¥987.04 million, representing a year-over-year growth of 23.41%, while the net profit attributable to shareholders was ¥119.85 million, up 24.59% from the previous year[25]. Revenue Breakdown - The sales revenue from air conditioning fans and accessories was ¥618.39 million, accounting for 62.65% of total revenue, with a growth of 28.94%[25]. - Export sales revenue increased by 53.35% to ¥231.28 million, contributing to 23.43% of total revenue, primarily due to growth in export business and the consolidation of Aishen Technology[25]. - The revenue from the fan manufacturing industry was ¥827,529,272.03, accounting for 83.84% of total revenue, with a year-on-year growth of 9.88%[52]. - Domestic sales accounted for 76.57% of total revenue, amounting to ¥755,756,901.57, while export sales contributed 23.43% with ¥231,281,870.44, showing a 53.35% increase year-on-year[52]. Product Development and Innovation - The company completed 12 new product R&D projects and improved 18 product technology processes in 2016, with new product sales increasing by over 300% compared to 2015[41]. - The company’s R&D efforts are directed towards high-performance materials for various industries, including marine engineering and rail transportation[28]. - The company is focusing on product innovation and market expansion, particularly in the building ventilation fan business and international markets[25]. - The building ventilation fan market is expected to grow significantly due to increased demand for energy-efficient and low-noise products[28]. Acquisitions and Market Expansion - The company plans to expand into the new energy vehicle sector by acquiring 100% of Hangzhou Tiecheng Information Technology Co., which specializes in high-frequency switching power supplies[29]. - The company acquired 100% equity of Hangzhou Tiecheng Information Technology Co., Ltd., facilitating entry into the new energy vehicle charging industry[40]. - The company aims to expand its product offerings in the new materials sector, focusing on noise reduction and environmental protection technologies, with significant applications in naval vessels and civil engineering[86]. - Yili Da's acquisition of Tiecheng Information will enhance its capabilities in the electric vehicle sector, with products like onboard chargers and DC converters being essential components for electric vehicles[87]. Cash Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥0.70 per 10 shares, based on a total of 443,295,521 shares[4]. - For the year 2016, the company reported a cash dividend of 0.70 CNY per 10 shares, with a total cash dividend of 31,030,686.47 CNY, representing 100% of the distributable profit[107]. - The cash dividends over the past three years were 21,760,800 CNY in 2014, 24,720,300 CNY in 2015, and 31,030,686.47 CNY in 2016, showing a consistent increase in dividend payouts[107]. - The cash dividend payout ratio for 2016 was 25.89% of the net profit attributable to ordinary shareholders[107]. Corporate Governance and Compliance - The company has established a comprehensive internal control system to protect the interests of shareholders, especially minority shareholders[143]. - The company has committed to fulfilling all promises made during the asset restructuring process, ensuring transparency and accuracy in financial reporting[108]. - The company emphasizes the importance of compliance with market regulations and fair practices in all transactions[110]. - The company has not reported any significant non-equity investments during the reporting period[72]. Risk Management and Challenges - The company faces risks from fluctuations in raw material prices, particularly galvanized and cold-rolled steel, which could impact operational performance[95]. - The company anticipates challenges in market acceptance for new products, particularly energy-saving motors, which require time for customer recognition[96]. - The acquisition of the Tiecheng Information production base is expected to increase fixed asset depreciation and overall management costs[96]. Employee and Management Structure - The company employed a total of 1,954 staff, with 1,348 in production, 181 in sales, 206 in technical roles, 44 in finance, and 175 in administration[180]. - The educational background of employees shows that 1,446 have high school education or below, 266 hold associate degrees, 224 have bachelor's degrees, and 18 possess master's degrees[180]. - The company has established a salary system that includes basic salary, additional salary, and performance salary to align employee compensation with responsibilities and performance[181]. - The company conducts various training programs annually to enhance employee skills and meet development needs, utilizing both internal and external training resources[182]. Shareholder Structure and Changes - The largest shareholders, Zhang Qizhong and Chen Xinquan, each hold 18.56% of the shares, totaling 76,500,000 shares[163]. - MWZ Australia Pty Ltd holds 9.91% of the shares, with a total of 40,841,000 shares, having decreased by 3,565,900 shares during the reporting period[163]. - The total number of ordinary shareholders at the end of the reporting period was 16,681[162]. - The company has no preferred shares outstanding during the reporting period[169]. Investor Relations - Investor relations were enhanced with 325 investor inquiries addressed, and 11 institutional research visits conducted, improving the company's image in the capital market[48]. - The company received 11 institutional research visits from 62 institutions, totaling 98 participants throughout the year[145]. - A total of 325 investor inquiries were responded to in a timely manner via the investor relations platform[145].