Jidong Equipment(SZ:000856)2016-04-07 16:00Financial Performance - The company reported a net profit of negative value for both 2014 and 2015, leading to a risk warning for delisting after the 2015 annual report disclosure[4]. - The company's operating revenue for 2015 was ¥1,415,793,769.08, a decrease of 9.20% compared to ¥1,559,203,618.13 in 2014[17]. - The net profit attributable to shareholders was -¥203,109,864.05, representing a decline of 134.88% from -¥86,474,209.63 in the previous year[17]. - The net cash flow from operating activities was -¥40,649,438.16, a significant decrease of 285.35% compared to ¥21,930,981.06 in 2014[17]. - The total assets at the end of 2015 were ¥2,238,087,363.91, down 8.41% from ¥2,443,519,264.20 at the end of 2014[17]. - The net assets attributable to shareholders decreased by 45.22% to ¥238,829,720.32 from ¥435,972,273.04 in 2014[17]. - The basic earnings per share for 2015 was -¥0.89, a decline of 134.21% from -¥0.38 in 2014[17]. - The weighted average return on equity was -60.20%, a decrease of 41.57% from -18.63% in the previous year[17]. - The company reported a net profit of -42,961,603.53 CNY for the year 2015, resulting in a total distributable profit of -146,545,109.79 CNY, leading to no profit distribution for the year[77]. - In 2014, the company also did not distribute profits, with a net profit of 6,232,759.43 CNY and a total distributable profit of -103,583,506.26 CNY[77]. Revenue and Sales - The company reported a revenue of 1,415.79 million yuan in 2015, a decrease of 9.2% year-on-year[35]. - Revenue from mechanical equipment and spare parts was ¥923,774,393.20, accounting for 65.25% of total revenue, down 3.66% from ¥958,862,543.75 in 2014[38]. - The revenue from construction installation dropped significantly by 39.64% to ¥134,286,876.71, down from ¥222,468,116.26 in 2014[38]. - The company’s major customers accounted for 82.90% of total sales, with the top customer contributing ¥966,177,798.11, or 68.24% of total sales[46]. - The company’s southern region revenue fell by 31.57% to ¥243,721,527.00, compared to ¥356,153,136.29 in 2014[38]. - The company’s revenue from the cement equipment engineering market is declining due to slowing domestic cement production capacity growth and increased competition, leading to a demand shrinkage for traditional cement equipment[68]. Market and Expansion - The company is actively expanding its market presence, with preliminary cooperation intentions established with multiple enterprises in the Middle East and South Africa in 2015[33]. - The company has identified growth opportunities in the overseas cement repair market, particularly in regions where Chinese companies have constructed cement plants[27]. - The company aims to enhance its market presence by focusing on product innovation, equipment upgrades, and management optimization, with a strategic emphasis on expanding into international cement equipment markets[71]. - The company is focusing on expanding its market share in the overseas maintenance and technical transformation sectors, particularly in regions where it has previously established cement production lines[69]. Research and Development - The company has a comprehensive capability in the EPC engineering service for new dry-process cement production lines, with a production capacity ranging from 2,000 to 12,000 tons per day[26]. - The company holds over 80 patents and software copyrights, showcasing strong independent research and development capabilities[30]. - The number of research and development personnel increased by 13.11% to 69, while R&D expenditure was ¥13,129,977.21, representing 0.93% of total operating revenue[49]. - The company has made significant breakthroughs in the R&D of heavy mobile crushing equipment, filling a gap in its product offerings[34]. Corporate Governance and Shareholder Information - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and management[3]. - The company has established a comprehensive internal control system to protect shareholder rights and ensure compliance with relevant laws and regulations[126]. - The company is committed to improving employee welfare, including timely payment of salaries and benefits, and enhancing workplace safety and health conditions[126]. - The company has maintained the same accounting policies and estimates as the previous year, with no changes reported[96]. - The company has not reported any penalties from regulatory bodies for its board members in the past three years[158]. - The total number of shareholders at the end of the reporting period was 13,801, down from 14,635[140]. - The company’s controlling shareholder, Jidong Group, has increased its shareholding, reflecting confidence in the company's future[74]. Cash Flow and Financial Position - Cash and cash equivalents at the end of 2015 amounted to 215,506,210, accounting for 9.63% of total assets, down from 10.57% in 2014[55]. - The net cash flow from operating activities decreased by 285.35% compared to the previous year, primarily due to a decline in operating revenue[51]. - The net cash flow from investment activities increased by 44.02% year-on-year, mainly due to a reduction in fixed asset purchases by the subsidiary[52]. - The net cash flow from financing activities increased by 11.58% compared to the previous year[52]. - The total amount of guarantees provided by the company and its subsidiaries was RMB 30.6 million, which accounted for 9.61% of the company's net assets[117]. Compliance and Legal Matters - There were no major lawsuits or arbitration matters during the reporting period[101]. - The company did not face any penalties or rectification issues during the reporting period[102]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[146]. Employee and Management Information - The total number of employees is 2,965, including 160 from the parent company and 2,805 from major subsidiaries[160]. - The company has established a competitive compensation policy to enhance employee performance and organizational efficiency[162]. - The total remuneration for senior management in 2015 was 1.7371 million yuan, with specific amounts for individual members such as 363,000 yuan for the general manager and deputy general manager[158]. - The company’s management structure includes a mix of engineering and business expertise, supporting its operational and strategic goals[156].