CASTECH(SZ:002222)2016-04-15 16:00Financial Performance - The company's operating revenue for 2015 was CNY 210,560,823.10, representing a 4.23% increase compared to CNY 202,007,821.76 in 2014[16]. - The net profit attributable to shareholders for 2015 was CNY 35,571,941.64, a significant increase of 331.66% from a loss of CNY 15,354,984.03 in 2014[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 38,089,103.70, up 308.63% from a loss of CNY 18,256,910.93 in 2014[16]. - The basic earnings per share for 2015 was CNY 0.1248, compared to a loss of CNY 0.0539 in 2014, marking a 331.66% increase[16]. - The total profit for 2015 was 41.29 million, which is a significant increase of 690.38% year-over-year[34]. - The total operating revenue for 2015 was ¥210,560,823.10, representing a 4.23% increase from ¥202,007,821.76 in 2014[39]. - The company distributed cash dividends of CNY 14,250,000.00 for the fiscal year 2015, which represents 40.06% of the consolidated net profit attributable to shareholders[88]. - The total distributable profit for the fiscal year 2015 was CNY 64,386,670.03, with cash dividends accounting for 100% of the profit distribution[89]. Assets and Liabilities - The total assets at the end of 2015 were CNY 694,156,173.91, a 5.40% increase from CNY 658,573,205.41 at the end of 2014[16]. - The company's total liabilities amounted to RMB 66,274,983.53, up from RMB 63,959,664.45, indicating an increase of about 4.9%[196][197]. - The company's total equity reached RMB 627,881,190.38, compared to RMB 594,613,540.96 at the start of the year, representing a growth of approximately 5.6%[197]. - Cash and cash equivalents increased to RMB 95,141,418.85 from RMB 69,891,503.59, marking a significant rise of about 36.1%[194]. - The company's inventory rose to RMB 127,739,284.75, up from RMB 112,625,593.21, which is an increase of approximately 13.4%[194]. Cash Flow - The net cash flow from operating activities for 2015 was CNY 63,724,204.47, a decrease of 5.05% from CNY 67,113,573.71 in 2014[16]. - The net cash flow from investment activities was -¥41,490,407.54, a decrease of 44.76% compared to the previous year, mainly due to payments for acquiring minority interests in subsidiaries[55][56]. - The total cash and cash equivalents increased by 1687.95% compared to the previous year, primarily due to the absence of cash dividends in the current year[56]. Market and Competition - The company faces risks including intensified market competition, fluctuations in the RMB exchange rate, and human resource risks, which are detailed in the management discussion section[4]. - The company is facing increased market competition, which could impact its gross margin and profitability, and plans to enhance cost control and product quality[76]. - The company reports that approximately 70% of its revenue comes from exports, primarily denominated in USD, making it vulnerable to fluctuations in the RMB exchange rate[77]. Research and Development - The company's R&D expenditure for the year was ¥24,543,887.99, representing 11.66% of the annual operating income, an increase of 14.15% compared to the previous year[54][53]. - The company applied for 29 patents during the year, including 8 invention patents, and received authorization for 9 patents, of which 1 was an invention patent[53]. - Research and development investments have increased by 30%, focusing on cutting-edge technologies[153]. Corporate Governance - The independent directors fulfilled their responsibilities effectively, ensuring the protection of minority shareholders' rights[84]. - The company has established a three-year shareholder dividend return plan from 2015 to 2017, enhancing corporate governance[163]. - The audit committee reviewed and issued opinions on the 2014 annual financial report and the first three quarters of 2015 financial reports[176]. Employee and Management - The total number of employees in the company is 900, with 766 in the parent company and 134 in major subsidiaries[157]. - The total pre-tax compensation for the chairman and general manager is 122.42 million, with the chairman receiving 60.77 million and the general manager receiving 61.65 million[155]. - The company emphasizes employee training, completing a series of training programs in 2015, including ISO9000/14000 basics and production management[160]. Future Outlook - The company has provided a positive outlook for the next fiscal year, projecting a revenue growth of 25%[153]. - New product launches are expected to contribute an additional 300 million yuan in revenue, with a focus on innovative technologies[153]. - A strategic acquisition is planned, which is anticipated to enhance the company's technological capabilities and market reach[153].