NARADA(SZ:300068)2016-03-14 16:00Company Strategy and Goals - The company aims to become a global leader in communication backup power, energy storage applications, power supply, and new energy system solutions[2]. - The company emphasizes innovation in its business model, transitioning from a single product sales model to a solution operation model[15]. - The company is actively exploring new business models and value-added service solutions to enhance its market position[46]. - The company plans to optimize its product structure and expand market demand through acquisitions in the power battery production sector[100]. - The company is exploring a new commercialization model for energy storage, combining investment and operation, which is expected to increase investment expenditures in this sector rapidly[128]. Financial Performance - The company's operating revenue for 2015 was CNY 5,153,126,944.32, representing a 36.10% increase compared to CNY 3,786,361,272.45 in 2014[27]. - The net profit attributable to shareholders for 2015 was CNY 203,302,908.29, a significant increase of 92.52% from CNY 105,601,798.68 in 2014[27]. - The company achieved a weighted average return on equity of 6.93% in 2015, up from 3.69% in 2014, indicating improved profitability[27]. - The total assets of the company reached CNY 6,932,185,127.55 by the end of 2015, marking a 42.41% increase from CNY 4,867,864,366.42 at the end of 2014[27]. - The company’s basic earnings per share for 2015 was CNY 0.34, an increase of 88.89% from CNY 0.18 in 2014[27]. Investment and Projects - The company plans to non-publicly issue shares to raise funds for the "Distributed Energy Network Construction Phase I Project" and a new energy battery project with an annual production capacity of 10 million kVAh[14]. - The company will adopt a phased construction and investment approach for the new energy battery project, aligning project progress with industry planning and company operational goals[15]. - The company is constructing a new production line with an annual capacity of 10 million kVAh for energy storage batteries, with a total investment of 1.2 billion yuan[57]. - The company plans to raise 2.45 billion yuan through a private placement to fund various projects, including a 1 billion yuan investment in a smart battery management system[59]. Acquisitions and Partnerships - The company acquired a 51% stake in Anhui Huabo Recycling Resources Technology Co., Ltd., entering the lead recycling industry and enhancing its supply chain[37]. - The company acquired 51% of Huabo Technology, resulting in goodwill of CNY 383.78 million, a 133.32% increase[38]. - The company is collaborating with Singapore's A*STAR on an energy internet project, which has completed hardware design and is now in the testing phase[56]. - The company signed multiple contracts for energy storage power station projects, marking the initial implementation of its commercial model in energy storage systems[52]. Market Performance - The backup power business generated revenue of CNY 2,323 million, a year-on-year increase of 20.37%[47]. - The overseas market sales reached CNY 854 million, growing by 23.32% year-on-year, with a balanced development across various regions[47]. - The communication industry contributed 2,322,716,165.73 yuan, accounting for 45.08% of total revenue, with a year-on-year growth of 20.37%[65]. - The company reported a 131.40% increase in lithium battery product revenue, totaling 299,472,976.29 yuan, compared to 129,416,676.63 yuan in 2014[65]. Research and Development - The company has 95 valid patents, including 35 invention patents, and is focusing on the development of second-generation lead-carbon battery technology[55]. - The R&D budget has been increased by 25%, reflecting the company's commitment to technological advancement[194]. - The company filed 49 patents in the last year, with 22 granted, focusing on innovative energy solutions[192]. Environmental and Safety Management - The company has established a comprehensive environmental management system and occupational health and safety management system across all production bases, meeting the requirements of the "Lead-acid Battery Industry Access Conditions"[12]. - The company is focused on enhancing its environmental, occupational safety, and energy-saving management capabilities through process innovation and equipment upgrades[12]. - The company emphasizes environmental protection as a prerequisite for sustainable development, achieving a stable safety production situation with no major accidents in 2015[166]. Shareholder and Governance - The company has implemented a stock option incentive plan, granting 15.2 million stock options to key employees to enhance motivation[62]. - The company’s independent directors have fulfilled their responsibilities, ensuring the decision-making process for profit distribution is complete and transparent[121]. - The company has maintained a consistent board composition with no new appointments or departures in the current reporting period, ensuring continuity[187]. Cash Dividends and Financial Strategy - The company does not plan to distribute cash dividends or issue bonus shares, nor will it increase capital using reserves[15]. - The total distributable profit at year-end was 460,316,702.56 CNY, with no cash dividends declared for 2015, resulting in a cash dividend ratio of 0.00%[122]. - The company’s financial strategy focuses on maintaining liquidity for significant capital expenditures and project investments, given the rapid development in the new energy and storage sectors[127].