LH(SH:600099)2020-04-17 16:00Financial Performance - In 2019, Linhai Co., Ltd. achieved a net profit of CNY 5,799,058.04, representing a 119.01% increase compared to the previous year's net profit of CNY 2,647,795.91[6]. - The company's operating revenue for 2019 was CNY 578,073,230.43, which is a 9.88% increase from CNY 526,091,429.85 in 2018[24]. - The basic earnings per share for 2019 was CNY 0.0265, up 119.01% from CNY 0.0121 in 2018[25]. - The total profit reached 6.58 million yuan, reflecting a significant year-on-year growth of 66.03%[43]. - The net profit attributable to shareholders was 5.80 million yuan, marking a substantial increase of 119.01% compared to the previous year[46]. - The comprehensive income total for 2019 was CNY 5,826,151.99, compared to CNY 2,647,795.91 in 2018, showing a growth of 119.2%[179]. - The company reported a net profit of 5.799 million RMB for 2019, with a dividend payout ratio of 151.14%[91]. Assets and Liabilities - The total assets of the company at the end of 2019 were CNY 614,631,408.67, reflecting a 4.02% increase from CNY 590,888,000.03 at the end of 2018[24]. - The company's total assets amounted to 614.63 million yuan, up 2.90% from the end of the previous year[43]. - The debt-to-asset ratio was 21.19%, an increase of 1.31 percentage points year-on-year[43]. - Total liabilities amounted to ¥130,263,555.41, up from ¥117,641,058.01 in 2018, indicating an increase of around 10.5%[174]. - The company reported a total equity of CNY 12,625,405.01, which includes an unallocated profit of CNY 6,706,321.55 after adjustments[97]. Cash Flow - The net cash flow from operating activities for 2019 was negative CNY 4,531,282.77, compared to negative CNY 19,680.26 in 2018[24]. - The total cash flow from operating activities for the fourth quarter was 40.11 million RMB, indicating a strong recovery in cash generation[8]. - The company reported a net cash outflow from operating activities of CNY -4,531,282.77, an improvement from the previous year's figure[61]. - Cash and cash equivalents at the end of 2019 totaled 148,393,208.45 RMB, down from 164,782,399.68 RMB at the end of 2018, representing a decrease of 9.9%[185]. Market and Industry Performance - In the special vehicle segment, the company maintained a leading market share in certain European markets and saw a notable increase in export volume to the Americas[40]. - The motorcycle segment experienced double-digit growth in both domestic and international markets, aided by promotional events and product launches[40]. - The agricultural machinery segment's revenue grew by 52.15% year-on-year, attributed to increased sales of hand-held transplanting machines[48]. - The company aims to enhance product competitiveness and innovate business models to achieve high-quality development in various sectors, including agricultural machinery and firefighting equipment[81]. Research and Development - Research and development expenses increased by 20.58% to CNY 6,002,475.90, representing 1.17% of total revenue[60]. - The company plans to increase R&D investment in agricultural machinery, focusing on high-end value chains and specific fields like rice paddy machinery[81]. - The company is investing 500 million yuan in R&D for new technologies aimed at enhancing product efficiency[132]. Governance and Management - The company has a governance structure where the remuneration of directors and supervisors is determined by the shareholders' meeting[138]. - The financial director of the company is Han Baojin, who also serves in the same capacity at China Fuma Machinery Group Co., Ltd.[136]. - The company has established a performance evaluation mechanism for senior management, with specific operational target responsibility indicators set annually[151]. Shareholder Information - The largest shareholder, China Fuma Machinery Group Co., Ltd., holds 42.10% of the shares, totaling 92,256,920 shares[122]. - The total number of ordinary shareholders increased from 14,974 to 15,267 during the reporting period[120]. - The company has no major shareholders holding more than 10% of shares other than the controlling shareholder[128]. Compliance and Risk Management - The company has outlined potential industry risks in the report, advising investors to be cautious[9]. - The company did not engage in any non-operating fund occupation by controlling shareholders or related parties[9]. - There were no violations of decision-making procedures regarding external guarantees[9].