ycec(SH:600248)2021-04-27 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 CNY 8.07 billion, representing a year-on-year increase of 6.55% compared to CNY 7.57 billion in 2018[25]. - The net profit attributable to shareholders for 2019 was approximately CNY 295.69 million, a 5.09% increase from CNY 289.92 million in 2018[25]. - The net assets attributable to shareholders at the end of 2019 were approximately CNY 2.96 billion, reflecting a 7.88% increase from CNY 2.74 billion at the end of 2018[27]. - The total assets at the end of 2019 were approximately CNY 8.41 billion, a 1.42% increase from CNY 8.29 billion at the end of 2018[27]. - The basic earnings per share for 2019 was CNY 0.3221, down 9.24% from CNY 0.3549 in 2018[27]. - The cash flow from operating activities for 2019 was negative CNY 276.32 million, a significant decrease compared to positive CNY 113.91 million in 2018[28]. - The company reported a quarterly revenue of CNY 2.69 billion in Q4 2019, which was the highest among the four quarters[28]. - The net profit for Q4 2019 was approximately CNY 78.51 million, showing a strong performance compared to previous quarters[28]. - Non-recurring gains and losses for 2019 totaled approximately CNY 5.78 million, significantly lower than CNY 92.68 million in 2018[31]. Dividend Policy - A cash dividend of RMB 0.2 per 10 shares is proposed, totaling RMB 18,359,053.44 to be distributed[6]. - The cash dividend for 2019 was set at RMB 0.2 per 10 shares, totaling RMB 18,359,053.44, which is 6.21% of the net profit attributable to ordinary shareholders[120]. - The company distributed a cash dividend of RMB 0.1 per 10 shares, totaling RMB 91,795,267.20 for the year 2018, which represents 32.62% of the net profit attributable to ordinary shareholders[117]. - In 2019, the company did not propose a cash profit distribution plan despite having positive distributable profits, indicating a focus on reinvestment[121]. Risk Management - The company has identified six major risks: industry risk, funding risk, policy risk, owner credit risk, safety production risk, and accounts receivable risk, with industry risk being the most significant[115]. - The company plans to enhance industry economic research, improve strategic planning management, and gradually expand its overseas market presence to mitigate industry risk[115]. - For funding risk, the company will conduct thorough research on bidding documents and assess the creditworthiness of owners to control repayment risks[115]. - The company has established a responsibility system for accounts receivable management, including a dedicated management team and annual assessments of outstanding debts[115]. - The company has established a blacklist for owners with poor creditworthiness to mitigate owner credit risk[115]. Operational Highlights - The company completed 90 engineering projects during the reporting period, with the Yuyuan Chemical Filling and Supplementing Project progressing smoothly and ranking among the top in terms of progress and quality among all general contracting units[55]. - The company has established a strong competitive advantage in engineering design, engineering construction, and technological innovation within the petrochemical industry[49]. - The company has developed key technologies in various fields, including petrochemicals, natural gas, and environmental protection, enhancing its core competitiveness[49]. - The company has successfully applied technological innovations in several major engineering projects, demonstrating its significant role in the national innovation system[49]. - The company has a total of 763 personnel in its subsidiary Shaanxi Huajian Engineering Co., Ltd., including 3 with special allowances from the State Council and 2 recognized as "Three Qin Talents"[55]. Strategic Focus - The company aims to become a leading international engineering service provider with a focus on high-quality development and risk management, achieving expected targets in major operational indicators[104]. - The company plans to optimize its business structure into three main segments: integrated engineering construction, capital operation, and equipment manufacturing, enhancing its resource integration and technological innovation capabilities[104]. - The strategic focus includes expanding into domestic and international markets while maintaining a strong emphasis on internal control and risk management[104]. - The company is committed to transforming into a comprehensive service provider for the entire lifecycle of construction products, enhancing product and service quality[104]. - The ongoing industry trend emphasizes a shift towards high-tech, high-value-added segments, with traditional sectors undergoing significant upgrades[103]. Technological Innovation - The company achieved a research and development expenditure of 343.46 million yuan, accounting for 4.26% of total revenue[49]. - Research and development expenses increased by 80.58% to 7,512.10 million RMB, indicating a strong focus on innovation[64]. - The company successfully developed a series of nickel-based alloys represented by N08810 and new heat-resistant steel welding processes represented by P91 during the reporting period[52]. - The company has invested in various engineering technologies, including catalytic device MIP process transformation and large transport bed gasification technology, positioning itself at the forefront of industry technology[52]. Corporate Governance - The company has committed to ensuring the independence of its financial department and maintaining a separate financial accounting system, with independent bank accounts not shared with other controlled enterprises[132]. - The company has pledged to compensate the listed company for any losses incurred due to violations of its commitments[134]. - The company will ensure that the management personnel of the listed company remain independent and will not hold positions in other controlled enterprises[132]. - The company has established a commitment to maintain the independence of the listed company's operations, assets, and personnel[132]. - The company emphasizes the importance of compliance with legal and regulatory requirements in all its business dealings[135].