ycec(SH:600248)2020-04-20 16:00Financial Performance - The company achieved a net profit attributable to shareholders of RMB 295,691,376.56 in 2019[6]. - The company's operating revenue for 2019 was approximately ¥8.07 billion, representing a 6.55% increase compared to ¥7.57 billion in 2018[25]. - The net profit attributable to shareholders for 2019 was approximately ¥295.69 million, a 5.09% increase from ¥289.92 million in 2018[25]. - The net profit after deducting non-recurring gains and losses for 2019 was approximately ¥295.69 million, showing a significant increase of 53.65% compared to ¥188.68 million in 2018[25]. - The total assets at the end of 2019 were approximately ¥8.41 billion, a 1.42% increase from ¥8.29 billion at the end of 2018[27]. - The net assets attributable to shareholders at the end of 2019 were approximately ¥2.96 billion, reflecting a 7.88% increase from ¥2.74 billion at the end of 2018[27]. - The basic earnings per share for 2019 were ¥0.3221, a decrease of 9.24% from ¥0.3549 in 2018[27]. - The weighted average return on net assets for 2019 was 10.35%, a decrease of 1.80 percentage points from 12.15% in 2018[27]. - The cash flow from operating activities for 2019 was negative at approximately -¥276.32 million, compared to positive cash flow of ¥113.91 million in 2018, indicating a significant decline of 342.57%[27]. - Revenue for the period reached 8,067.95 million yuan, representing a year-on-year growth of 6.55%, while net profit attributable to the parent company was 295.69 million yuan, up 5.09% year-on-year[59]. Dividend Distribution - A cash dividend of RMB 0.2 per 10 shares is proposed, totaling RMB 18,359,053.44 to be distributed[6]. - The company distributed a cash dividend of RMB 0.1 per share for the year 2019, totaling RMB 18,359,053.44, which represents 6.21% of the net profit attributable to ordinary shareholders[120]. - In 2018, the company distributed a cash dividend of RMB 1.0 per share, totaling RMB 91,795,267.20, which accounted for 32.62% of the net profit attributable to ordinary shareholders[120]. Risk Management - The company reported no significant risk events during the reporting period[8]. - The company has identified six major risks: industry risk, funding risk, policy risk, owner credit risk, safety production risk, and accounts receivable risk, with corresponding mitigation strategies in place[115]. - The company plans to enhance industry economic research, improve strategic planning management, and expand overseas markets to address industry risk[115]. - To mitigate funding risk, the company will conduct thorough research on bidding documents and assess the creditworthiness of owners[115]. - The company has established a responsibility system for accounts receivable management, including a dedicated management team and annual assessments of outstanding debts[115]. Audit and Compliance - The audit report issued by Sigma Accounting Firm was a standard unqualified opinion[5]. - The company has not violated decision-making procedures for external guarantees[8]. - The company has committed to maintaining transparency in its cash dividend policy to enhance investor confidence[153]. - The integrity status of the company and its controlling shareholders is good, with no major defaults or regulatory actions reported[160]. - The company has not reported any instances of fund occupation or overdue receivables during the reporting period[156]. Business Operations and Strategy - The company aims to enhance its engineering contracting capabilities and optimize project management to improve operational quality and competitiveness[44]. - The company is positioned to leverage opportunities in unconventional oil and gas resources as the industry undergoes transformation and new business models emerge[45]. - The company emphasizes quality and efficiency, aiming to provide high-quality services and maintain a leading position in the domestic engineering sector[39]. - The company aims to enhance its core competitiveness through continuous technological innovation and by optimizing its organizational structure and business segments[106]. - The company plans to implement a comprehensive market development strategy across group, domestic, and international markets to stabilize its market presence and performance scale[106]. Research and Development - The company achieved a research and development expenditure of 343.46 million, accounting for 4.26% of total revenue[49]. - Research and development expenses rose significantly by 80.58% to CNY 7,512,103.52[64]. - The company has developed key technologies in various fields, including petrochemicals, natural gas, and environmental protection, enhancing its core competitiveness[49]. Project Management and Contracts - The company secured contracts totaling 75.66 billion yuan during the reporting period, with total revenue of 806,795.44 million yuan and a net profit of 29,569.14 million yuan[44]. - The company completed 90 engineering projects during the reporting period, with significant progress and quality ranking among the top in all general contracting units[55]. - The company signed 321 contracts during the reporting period, with a total value of 7.566 billion yuan, including 12 contracts exceeding 100 million yuan[59]. - The company has ongoing projects with a total contract value of 51,498,160 for the construction of the ethylene glycol unit in Inner Mongolia[192]. Human Resources and Corporate Culture - The company has cultivated 207 outstanding project managers, enhancing its human resource capabilities to support strategic development[52]. - The company emphasizes corporate culture, promoting the "craftsman" spirit and "Iron Army" culture to enhance cohesion and drive development[55]. - The company has a strong design and R&D capability, with 83.1% of its personnel holding a bachelor's degree or above[55]. Equipment and Technological Advancements - The company invested CNY 36.18 million to purchase a 650-ton crawler crane and a 550-ton truck crane, enhancing its equipment strength[52]. - The company has over 300 advanced precision testing devices, including X-ray and ultrasonic testing equipment, to meet non-destructive testing and physical-chemical testing needs[52]. - The company has implemented a digital management platform for engineering quality detection, improving operational efficiency and project management[49]. Industry Outlook - The outlook for 2020 indicates potential challenges due to the COVID-19 pandemic, but long-term growth is expected as investment stabilizes and the energy security strategy is implemented[45]. - The petrochemical industry in China saw an industrial added value growth of 4.6% year-on-year, indicating stable progress despite challenges from the COVID-19 pandemic[103].