Precise(SZ:300442)2016-03-30 16:00Financial Performance - The company's operating performance declined due to domestic and international economic slowdown and poor performance in downstream industries[7]. - The company's operating revenue for 2015 was ¥540,611,908.17, a decrease of 7.05% compared to ¥581,590,634.76 in 2014[25]. - The net profit attributable to shareholders for 2015 was ¥50,065,260.27, down 44.88% from ¥90,836,427.81 in 2014[25]. - The net cash flow from operating activities was negative at -¥47,590,151.36, a decline of 204.67% compared to ¥45,465,672.27 in 2014[25]. - The company reported a basic earnings per share of ¥0.55, a decrease of 54.55% from ¥1.21 in 2014[25]. - The weighted average return on equity for 2015 was 6.22%, down 13.80% from 20.02% in 2014[25]. - The company reported a total profit for the period of 58.38 million yuan, down 46.31% year-on-year, while the net profit attributable to shareholders was 50.07 million yuan, a decrease of 44.88%[93]. - The company experienced a significant decline in sales of filling machine series equipment, with revenue of CNY 119.16 million, a drop of 32.27% from the previous year[60]. Assets and Liabilities - The total assets at the end of 2015 reached ¥1,259,362,452.67, an increase of 61.44% from ¥780,085,344.30 at the end of 2014[25]. - The net assets attributable to shareholders increased by 94.40% to ¥970,140,339.09 at the end of 2015 from ¥499,041,496.55 at the end of 2014[25]. - The total amount spent on the top five suppliers was 83,209,095.58 yuan, representing 27.31% of total annual procurement[69]. - The company’s cash flow from operating activities was negative at CNY -47.59 million[55]. Investments and Acquisitions - The company invested CNY 60 million to establish Jiangsu Puhua Sheng Packaging Technology Co., holding 60% of the equity[57]. - The acquisition of 100% equity in Heiniu Food (Suzhou) Co., now known as Suzhou Puli Sheng Food Technology Co., was completed for CNY 12.36 million[57]. - The company reported a significant investment of CNY 208.2 million in Suzhou Puli Packaging Co., Ltd., acquiring 100% ownership[78]. - The company has allocated CNY 12,301.7 million of the raised funds for future projects, with 29.22% of the total funds still unutilized[82]. Research and Development - The company has nearly 100 technical R&D personnel, emphasizing innovation and product quality improvement[49]. - Research and development investment amounted to 24,685,370.51 yuan, representing 4.57% of total revenue, with a total of 13 ongoing R&D projects and 45 patents obtained[74][75]. - The company aims to enhance its R&D capabilities and develop liquid food packaging machinery with import substitution functionality[95]. - The company is focused on developing new packaging technologies to meet market demands and improve operational efficiency[78]. Market and Sales - The company operates primarily in the domestic market with a small amount of export business, focusing on direct sales and expanding its customer base[38]. - The company achieved overseas sales of 88.09 million yuan in 2015, representing a 102% year-on-year growth[52]. - The domestic revenue decreased by 15.90% to CNY 452.52 million, while the overseas revenue increased by 102.29%[60]. - Sales of paper-aluminum composite sterile packaging materials reached nearly 1.1 billion packages, generating revenue of CNY 173.60 million, an increase of 6.40%[55]. Corporate Governance and Compliance - The company has established specialized committees within the board, including a remuneration and assessment committee, audit committee, nomination committee, and strategic development committee[180]. - The independent directors attended 8 out of 10 board meetings, with no objections raised against company matters during the reporting period[189][190]. - The company has not reported any non-standard audit reports for the current period[119]. - The company has made commitments to protect investors' rights and will compensate for any losses caused by non-fulfillment of these commitments[117]. Shareholder Relations and Stock Management - The company plans to stabilize its stock price according to the approved plan within three years post-IPO[114]. - The company will initiate share buyback measures if the prospectus contains false statements or omissions, with the buyback price not lower than the issuance price plus applicable interest[115]. - The company has committed to timely and fully disclose any inability to fulfill its commitments, along with the specific reasons for such inability[111]. - The company will not reduce its holdings of shares exceeding 3% of the total share capital within two years after the lock-up period[113]. Operational Efficiency and Cost Management - The company is committed to reducing inventory and costs by improving market forecasting for downstream industries[96]. - The company will adopt advanced technologies and equipment to develop innovative products and applications[96]. - The company plans to increase its production scale and improve management levels to mitigate risks associated with accounts receivable[94]. - The company has established a complete and independent operational system in business, assets, personnel, and finance, ensuring no reliance on the controlling shareholder[184]. Employee Management and Workforce - The company employed a total of 778 staff, with 509 in production, 110 in technical roles, and 35 in sales[173][174]. - The company implements a performance-based bonus system for year-end bonuses, determined by annual performance evaluations[171]. - Employee training includes onboarding, safety, and professional skills, with management covering tuition for relevant courses[176]. - The company has no outsourced labor arrangements, indicating a fully in-house workforce[177]. Legal and Regulatory Matters - The company faced a lawsuit involving a claim of 220 million yuan related to equipment delivery issues, which was resolved with the plaintiff withdrawing the case[122]. - The company was ordered to pay 1 million yuan in damages due to patent infringement, which was upheld by the court[123]. - There were no significant penalties or corrective actions reported during the period[124]. - The company did not engage in any related party transactions during the reporting period[127].