TIANSHENG(SZ:300169)2017-03-06 16:00Dividend and Profit Distribution - The company plans to distribute a cash dividend of 0.21 RMB per 10 shares to all shareholders, based on a total of 325,984,340.00 shares[5]. - The board of directors has approved a profit distribution plan that includes no bonus shares and no capital increase from capital reserves[5]. - The cash dividend represents 100% of the total distributable profit for the year, which amounts to 15,959,703.78 RMB[106]. Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the fiscal year, representing a year-over-year growth of 15%[15]. - The company's operating revenue for 2016 was ¥822,425,253.45, representing an increase of 8.05% compared to ¥761,186,111.45 in 2015[21]. - The net profit attributable to shareholders decreased by 22.42% to ¥18,191,842.80 in 2016 from ¥23,448,695.98 in 2015[21]. - The total revenue for 2016 was CNY 18,191,842.80, while the revenue for 2015 was CNY 23,448,695.98, indicating a decline[109]. - The company’s actual performance for 2016 was 4.76 million RMB, which was lower than the forecasted 5.8 million RMB[124]. Risk Management and Compliance - The company emphasizes the importance of risk awareness regarding forward-looking statements in the annual report[5]. - The company is committed to strengthening its risk control system to manage potential operational risks[100]. - The company faces risks related to the loss of core technical personnel, which could impact its competitive position in the polymer foaming industry[99]. - The company has established a comprehensive human resources management system to attract and retain talent effectively[99]. - The company has reiterated its commitment to comply with all relevant regulations and internal policies regarding shareholder rights and related transactions[116]. Research and Development - The company has invested 50 million RMB in R&D for new technologies aimed at improving product performance and sustainability[15]. - The company holds 31 patents, including 13 invention patents, with 3 new patents added during the reporting period[37]. - The company is focused on the research and development of high-performance clean energy materials and new building materials[76]. - Research and development expenses increased by 15% to 150 million RMB, focusing on sustainable materials technology[179]. - The number of R&D personnel increased to 71 in 2016, accounting for 6.87% of the total workforce, up from 4.43% in 2015[60]. Market Expansion and Strategic Initiatives - The company is expanding its market presence, targeting a 30% increase in sales in international markets, particularly in Europe and North America[15]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share in the region by 2020[179]. - A strategic acquisition was completed, enhancing the company's capabilities in composite materials, which is anticipated to boost production efficiency by 25%[15]. - The company is actively pursuing market expansion and new product development strategies[112]. - The company aims to enhance its market presence through strategic partnerships and potential acquisitions in the polymer technology sector[74]. Corporate Governance - All board members attended the meeting to review the annual report, ensuring comprehensive oversight[4]. - The company guarantees the accuracy and completeness of the financial report, with key personnel affirming their responsibility[4]. - The independent directors attended all 10 board meetings and participated in 10 meetings via communication methods, with no absences reported[196]. - The audit committee maintained good communication with both internal and external audit institutions throughout the year[199]. - The company has established a KPI performance evaluation system for senior management, ensuring transparency and compliance with legal regulations[192]. Subsidiaries and Investments - The company has a diverse range of subsidiaries and investments, indicating a broad operational scope[10]. - The company established a new subsidiary, Jiangsu Tian Sheng Environmental Technology Co., Ltd., with an investment of CNY 5,000,000.00 in February 2016[54]. - The company completed cash acquisitions of 兴岳资本有限公司 for CNY 36,100,000 and 天晟证券有限公司 for CNY 26,842,991.08, both at 100% ownership[127]. - The company’s subsidiary, Tian Sheng Hong Kong, acquired 100% equity of Xingyue Capital for HKD 36,100 on April 5, 2016[152]. - The company has established partnerships with two major automotive manufacturers, which are expected to generate an additional 100 million RMB in revenue over the next two years[15]. Employee and Management Structure - The total number of employees in the company is 1,033, with 245 in the parent company and 788 in major subsidiaries[185]. - The total remuneration for the board and senior management during the reporting period is 368.4 million[184]. - The company emphasizes continuous employee training to enhance management skills and prepare for key positions[188]. - The company has no retired employees requiring pension expenses, indicating a focus on current workforce management[185]. - The company has established a transparent information disclosure system, ensuring all shareholders have equal access to information[192].