Wisesoft(SZ:002253)2017-03-20 16:00Financial Performance - The company's operating revenue for 2016 was CNY 315,945,847.85, representing a 20.94% increase compared to CNY 261,239,778.42 in 2015[20] - The net profit attributable to shareholders of the listed company was CNY 38,890,981.22, up 16.40% from CNY 33,411,877.76 in the previous year[20] - The basic earnings per share increased by 6.25% to CNY 0.17, compared to CNY 0.16 in 2015[20] - The net profit after deducting non-recurring gains and losses was CNY 30,267,079.34, a slight increase of 2.95% from CNY 29,398,793.40 in the previous year[20] - The company's net profit attributable to shareholders for Q4 2016 was CNY 18,215,161.34, representing a significant increase compared to previous quarters[25] - The company's total revenue for 2016 reached approximately CNY 315.95 million, representing a year-on-year increase of 20.94% compared to CNY 261.24 million in 2015[54] - The company's intelligent transportation products and services generated CNY 28.86 million, a significant increase of 44.75% from CNY 19.93 million in 2015[54] - The company's revenue from other businesses surged by 805.40%, reaching CNY 1.35 million compared to CNY 148,687 in 2015[54] - The company's software industry revenue reached ¥314,599,635.91, with a year-on-year increase of 20.49% and a gross margin of 29.47%[57] - Revenue from aviation and air traffic control products and services was ¥148,954,846.42, representing a 31.23% increase year-on-year, with a gross margin of 39.52%[57] - The company reported a total of ¥95,326,823.80 in revenue from information technology and other services, with a year-on-year growth of 9.56% and a gross margin of 11.61%[57] Cash Flow and Investments - The net cash flow from operating activities decreased by 53.98% to CNY 56,476,807.93, down from CNY 122,710,570.81 in 2015[20] - The company's cash flow from operating activities in Q4 2016 was CNY 84,262,244.43, indicating a strong recovery from negative cash flows in the earlier quarters[25] - The company's cash and cash equivalents decreased by CNY 173,798,300, a decline of 35.15%, mainly due to increased investments in fundraising projects[38] - The net cash flow from operating activities decreased by 66.23 million yuan, a decline of 53.98% compared to the previous year, primarily due to the payment of import VAT for flight simulators amounting to 27.85 million yuan and a reduction in advance payments from new contracts by 20.39 million yuan[77] - The net cash flow from financing activities decreased by 502.29 million yuan, a decline of 111.00% year-on-year, mainly due to the previous year's directed issuance of shares that received investment funds[77] - The total cash inflow from operating activities was 355.47 million yuan, down 7.25% from 383.26 million yuan in the previous year[79] - The total cash outflow from operating activities increased by 14.76% to 298.99 million yuan from 260.55 million yuan in the previous year[79] - The net cash flow from investment activities was -180.99 million yuan, an improvement of 9.74% compared to -200.52 million yuan in the previous year[79] - The cash and cash equivalents decreased by 174.31 million yuan, a decline of 146.52% compared to an increase of 374.69 million yuan in the previous year[79] Assets and Liabilities - The total assets at the end of 2016 were CNY 1,516,533,414.18, a decrease of 5.63% from CNY 1,607,073,726.57 at the end of 2015[20] - The net assets attributable to shareholders of the listed company increased by 0.69% to CNY 1,284,512,495.24, compared to CNY 1,275,764,065.27 at the end of 2015[20] - The fixed assets increased by CNY 137,973,900, a growth of 38.54%, primarily due to the commissioning of additional flight simulators[37] - The proportion of inventory decreased by 30.94%, reflecting a strategic shift in asset management[83] - The company reduced short-term borrowings by 93.12%, indicating improved financial management and debt repayment strategies[83] Research and Development - The company has achieved a recognition accuracy of 99.60% in vehicle automatic recognition tests, regaining a leading position in technology[33] - The company has developed a prototype for a small 3D facial recognition camera, with performance metrics surpassing similar foreign products, and is expected to be suitable for mass application[47] - The company plans to invest CNY 5 million annually for 10 years in collaboration with Sichuan University to support artificial intelligence research[40] - The company is developing a high-precision 3D structured light measurement instrument, with progress at the engineering prototype stage, aimed at enhancing core competitiveness and expanding into new business areas[73] - The company has completed the development of a new generation airport scene monitoring and management system, which is expected to increase technological reserves and expand into new business fields[74] - The company has developed a virtual reality science popularization classroom, completing 20 sets of interactive VR programs, which will help in expanding new business areas[74] - The company is working on the SimVIZ 2.0 development platform for data visualization products, which has been completed and is expected to enhance R&D efficiency and expand into new markets[75] Market and Growth Potential - The company expects the overall investment scale in domestic air traffic management systems to reach hundreds of billions of CNY during the "13th Five-Year Plan" period, indicating significant market growth potential[27] - The company anticipates significant growth in the aviation industry, with a projected increase in the civil aviation fleet from nearly 3,000 to over 9,300 aircraft by 2035, necessitating new technologies and products[99] - The company plans to continue its "13th Five-Year Plan" with a shift towards a "project + service + product" model, enhancing its profitability through high-end training and experience services[100] Shareholder and Governance - The company plans to distribute a cash dividend of CNY 1.20 per 10 shares, based on a total of 225,626,095 shares[7] - The cash dividend for 2016 represents 69.62% of the net profit attributable to ordinary shareholders, which was 38.89 million yuan[118] - The company emphasizes the importance of protecting the rights of minority investors while ensuring a reasonable return on investment for shareholders[114] - The company has not reported any major litigation or arbitration matters during the reporting period[124] - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period[125] - The company maintained a good integrity status, with no unfulfilled court judgments or significant debts due[125] - The company committed to timely and accurate disclosure of significant information affecting investors[120] - The company has not made any changes to accounting policies or estimates compared to the previous year's financial report[121] - The company ensured compliance with related party transaction regulations and maintained fair pricing standards[120] Employee and Management - The total number of employees in the company is 570, with 325 in the parent company and 245 in major subsidiaries[181] - The professional composition includes 348 technical personnel, 63 management personnel, and 46 sales personnel[181] - The educational background of employees shows 32 with a doctorate, 124 with a master's degree, and 248 with a bachelor's degree[182] - The company has implemented a performance evaluation system since 2003, linking employee compensation to departmental and company performance[183] - In 2016, the company optimized its compensation system by adding performance bonuses to encourage outstanding team and individual performance[184] - The company conducted various training programs in 2016, including management training and technical training, to enhance employee skills[186][187] Board of Directors and Executive Compensation - The board of directors consists of 8 members, including 3 independent directors, ensuring compliance with governance regulations[198] - The total pre-tax remuneration for the board of directors and senior management amounted to 373.87 million CNY[179] - The highest remuneration was received by the general manager, who earned 46.02 million CNY[179] - The company has established a performance-oriented evaluation mechanism for senior management, linking remuneration to annual performance targets[177] - The total number of independent directors is four, contributing to corporate governance[176] - The company has not faced any penalties from the China Securities Regulatory Commission or other relevant authorities for its directors and senior management[175]