BESTWAY(SZ:300008)2018-06-15 16:00Acquisitions and Restructuring - The company acquired 100% of Jin Haiyun in 2016 and 100% of Dajin Heavy Industry in 2017, enhancing its "R&D-design-manufacturing" industry chain[6]. - The company acquired 100% equity of Jiangsu Dajin Heavy Industry Co., Ltd. on December 28, 2017, which was included in the consolidated financial statements[27]. - The company successfully completed the acquisition of Dazhong Heavy Industry in December 2017, enhancing its capabilities in marine engineering and clean energy sectors[74]. - The company engaged in mergers and acquisitions, including the acquisition of Jiangsu Dajin Heavy Industry Co., Ltd., which is expected to enhance operational efficiency and positively impact performance[123]. - The company acquired Dajin Heavy Industry, resulting in a non-operating fund occupation situation, which will be cleaned up in the next three months[158]. - The company agreed to acquire 100% equity of Jiangsu Dajin Co., Ltd. for a cash consideration of 78,000 RMB, approved on December 5, 2017[200]. Financial Performance - The company's operating revenue for 2017 was CNY 1,483,928,878, representing a decrease of 2.24% compared to 2016[25]. - The net profit attributable to shareholders of the listed company was CNY 164,139,051, an increase of 1.11% year-on-year[25]. - The net cash flow from operating activities was CNY -125,373,123, showing an improvement of 55.24% compared to the previous year[25]. - The total assets at the end of 2017 amounted to CNY 4,439,882,424, a decrease of 2.59% from the end of 2016[25]. - The net assets attributable to shareholders of the listed company decreased by 14.72% to CNY 2,646,929,010 at the end of 2017[25]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the fiscal year, representing a growth of 15% year-over-year[62]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the fiscal year, representing a growth of 20% compared to the previous year[146]. Research and Development - The company aims to enhance its core competitiveness in shipbuilding and defense equipment by increasing R&D and marketing efforts[6]. - The company is focusing on talent retention and development to mitigate risks associated with the loss of core technical personnel[10]. - The company has a strong technical R&D team and has participated in multiple national-level research projects, providing comprehensive technical services in shipbuilding and marine engineering[49]. - Research and development expenses increased by 30%, totaling 300 million RMB, to support innovation in new technologies[62]. - The company has filed multiple patents in 2017, including 12 utility models and 5 invention patents, indicating a strong focus on innovation and technology development[64]. - The company is involved in the research and development of new technologies, including underwater robots and marine equipment, to enhance its product offerings[121]. Market Challenges and Strategies - The Baltic Dry Index (BDI) remains low, indicating ongoing challenges in the international shipping market, which affects the company's shipbuilding and marine engineering business[8]. - The company is actively seeking industrial upgrades and technological innovations to address cyclical market risks in the shipbuilding sector[8]. - Despite a sluggish shipbuilding market, the company has increased its marketing efforts and R&D investments, leading to a steady development in engineering consulting and supervision services[46]. - The company is actively pursuing opportunities in the military auxiliary and military trade vessel markets, integrating defense elements into its existing civilian products[47]. - The company emphasizes a market-driven direct sales model, closely engaging with potential users to coordinate pre-sales technical services and after-sales support[41]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 0.18 yuan per 10 shares (tax included) to shareholders, based on a total of 960,016,185 shares[12]. - The total distributable profit available for shareholders at the end of 2017 was RMB 482,188,327.38, with a net profit attributable to shareholders of RMB 164,139,051.09 for the year[138]. - The cash dividend payout ratio for 2017 was 10.53% of the net profit attributable to shareholders[138]. - The company did not distribute any cash dividends in 2015, while in 2016, it distributed RMB 1 per 10 shares, totaling RMB 38,400,647.40[136]. Operational Efficiency and Cost Management - The company is focusing on enhancing its supply chain efficiency, aiming to reduce lead times by 20%[62]. - The company has set a target to reduce operational costs by 10% through efficiency improvements in the supply chain[149]. - The company aims to enhance its production capacity by 25% through the implementation of automated manufacturing processes by 2019[65]. Legal and Compliance Matters - The company is involved in a lawsuit with a claim amount of CNY 564.06 million, which has been recognized as a liability[164]. - The company has not experienced any bankruptcy reorganization matters during the reporting period[163]. - The company has not reported any significant impact from the ongoing arbitration case on its operations[165]. - The company has committed to ensuring that no illegal occupation of its funds or assets occurs during the transaction period[143]. Corporate Social Responsibility - The company emphasizes its commitment to corporate social responsibility, ensuring fair treatment of all investors and maintaining a high level of corporate governance[196]. - The company has not initiated any targeted poverty alleviation work in the reporting year and has no subsequent plans[197]. - The company does not belong to the key pollutant discharge units as published by the environmental protection department[197].