Moso power(SZ:002660)2017-04-17 16:00Financial Performance - The company's operating revenue for 2016 was CNY 1,292,958,187.22, representing a 40.21% increase compared to CNY 922,185,556.51 in 2015[17]. - The company reported a significant increase in revenue from CNY 628,224,567.94 in 2014 to CNY 1,292,958,187.22 in 2016[17]. - The net profit attributable to shareholders was -1,788,124.06 CNY, a decrease of 111.14% compared to the previous year[18]. - The net profit excluding non-recurring gains and losses was -20,478,668.92 CNY, a decrease of 4.05% year-on-year[18]. - The net cash flow from operating activities was 2,181,305.76 CNY, down 94.24% from the previous year[18]. - Total assets increased by 22.23% to 2,273,730,374.07 CNY compared to the end of 2015[18]. - The company’s net assets attributable to shareholders decreased by 1.25% to 861,737,756.77 CNY compared to the end of 2015[18]. - The company’s weighted average return on equity was -0.21%, down from 1.95% in the previous year[18]. - The company's basic and diluted earnings per share were both -0.01 CNY, a decrease of 116.67% year-on-year[18]. - The company reported a net loss of 1,788,124.06 RMB in 2016, resulting in a 0.00% dividend payout ratio[100]. Revenue Breakdown - The revenue from SPS switch power supplies was ¥580,104,211.97, accounting for 44.87% of total revenue, with a growth of 29.10%[41]. - The revenue from LED driver power supplies increased by 62.86% to ¥259,294,914.38, representing 20.05% of total revenue[41]. - Domestic revenue reached ¥935,969,989.75, accounting for 72.39% of total revenue, with a year-on-year growth of 48.76%[41]. - The total revenue from the top five customers amounted to ¥273,138,492.34, accounting for 21.13% of the annual total sales[49]. Investments and Projects - The company plans to invest in multiple solar photovoltaic projects with a total fundraising amount of up to ¥632.24 million[36]. - The company plans to increase production capacity by 30% in 2017 compared to the average monthly capacity in 2016, following the stabilization of production quality[90]. - The company is focusing on enhancing the competitiveness of its subsidiaries and improving risk resistance and sustainable development capabilities[27]. - The company is actively pursuing photovoltaic projects with a total planned investment of RMB 4.5 billion across various locations, including Hubei and Ningxia[175][176]. - The company plans to invest RMB 800 million in a 100MW photovoltaic project in Xinyu, with the first phase of 20MW already connected to the grid by December 30, 2016[174]. Research and Development - Research and development investment increased by 10.49% to ¥49,357,130.61 in 2016 from ¥44,670,890.56 in 2015[53]. - The number of R&D personnel increased by 8.23% to 250 in 2016 from 231 in 2015[53]. - The company is actively involved in the research and development of solar photovoltaic inverters, which is a key area for future technological advancement[78]. - The company will continue to enhance its R&D capabilities in power supply technology, particularly in high-frequency, high-power, and high-efficiency products[93]. Corporate Governance - The company has not changed its main business since its listing[15]. - The company is under the continuous supervision of Southwest Securities Co., Ltd. as its sponsor for non-public issuance of A shares[16]. - The company has established long-term commitments regarding related party transactions to ensure fair market pricing and compliance with legal regulations[118]. - The company has outlined measures to ensure that any potential losses from breaches of commitments will be compensated[117]. - The actual controller of the company, Gu Yongde, has committed to not engage in any business that may harm the interests of the company or its subsidiaries[120]. Market Trends - The global LED lighting market size reached $29.6 billion in 2016 and is expected to grow to $33.1 billion in 2017, with a penetration rate of 52%[80]. - The global LED driver power supply market is expected to exceed $6 billion by 2020, driven by the growth of the LED lighting market[85]. - The demand for LED driver power supplies is anticipated to shift from government projects to civilian lighting applications as energy-saving concepts become more prevalent[85]. - The trend towards modular and intelligent LED driver power supplies is expected to increase as customer demands for performance and aesthetics rise[86]. Shareholder Information - The largest shareholder, Gu Yongde, holds 30.34% of the shares, totaling 84,047,540 shares, with 21,011,887 shares pledged[194]. - The second-largest shareholder, Shenzhen DeWang Investment Development Co., Ltd., holds 4.20% of the shares, totaling 11,639,654 shares, all of which are pledged[194]. - The company reported a total of 3,000 in entrusted financial management, with a total return of 21.34, all of which has been recovered[159]. - The company completed the buyback and cancellation of 310,684 shares, reducing its registered capital from 277,341,300 to 277,030,616[165]. Legal and Compliance - The company is involved in several lawsuits, including a case against Shenzhen Zhongjing Technology Co., Ltd. for RMB 1,049,000, where the company won the case and is currently in the enforcement stage[137]. - The company has initiated arbitration against On-Q Company for USD 100,000 regarding the return of prepaid development funds, with the arbitration currently in the enforcement stage[137]. - The company has no penalties or rectification measures during the reporting period[139]. - The company has maintained its accounting firm, Ruihua Certified Public Accountants, for nine consecutive years, with an audit fee of RMB 850,000[136].