Sinomach Auto(SH:600335)2020-04-28 16:00Dividend Distribution - The company plans to distribute a cash dividend of 0.60 CNY per 10 shares, totaling approximately 87.41 million CNY (including tax) based on a total share capital of 1,456,875,351 shares as of December 31, 2019[7]. - The company implemented a cash dividend policy for 2018, distributing 1.50 RMB per 10 shares to shareholders, ensuring compliance with its distribution policy[122]. - In 2019, the company distributed cash dividends totaling ¥87,412,521.06, which accounted for 16.26% of the net profit attributable to ordinary shareholders[123]. - The cash dividend per 10 shares in 2019 was ¥0.60, compared to ¥1.50 in 2018 and ¥1.00 in 2017[123]. - The company did not propose a cash profit distribution plan for the reporting period despite having positive distributable profits[124]. - The company has maintained a consistent approach to dividend distribution over the past three years, with varying amounts reflecting its profitability[123]. Financial Performance - The company's operating revenue for 2019 was approximately ¥52.16 billion, a decrease of 6.73% compared to 2018[25]. - Net profit attributable to shareholders was approximately ¥537.60 million, down 35.43% from the previous year[25]. - Basic earnings per share decreased by 35.43% to ¥0.3690[25]. - The total assets at the end of 2019 were approximately ¥37.89 billion, a slight increase of 0.84% year-on-year[25]. - The company reported a total net asset of approximately ¥10.13 billion, reflecting a growth of 3.41% compared to the previous year[25]. - The company achieved a total automotive trade service capability covering strategic consulting, market analysis, model selection, and logistics distribution[34]. - The company achieved a sales revenue of CNY 52.162 billion, a decrease of 6.73% compared to the previous year[75]. - The total profit amounted to CNY 0.702 billion, with a net profit attributable to shareholders of CNY 0.538 billion, resulting in earnings per share of CNY 0.369[59]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the accuracy and completeness of the financial report[6]. - The company’s financial report has been confirmed by the responsible persons, ensuring its authenticity and completeness[6]. - The company has committed to timely disclosure of related party transactions and adherence to regulatory requirements[128]. - The company has not engaged in share repurchases as part of its cash dividend strategy[124]. Risk Management - The company has no significant risk events during the reporting period and has detailed potential risks in the section discussing operational conditions[9]. - There are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[9]. - The company has not violated decision-making procedures for external guarantees[9]. - The company has committed to ensuring the independence of its subsidiaries post-major asset restructuring, covering aspects such as personnel, assets, finance, and operations[126]. Market and Industry Trends - In 2019, the company ranked 201st in the Fortune China 500 and 7th in the top 100 Chinese automotive dealer groups[34]. - The automotive industry is expected to recover post-pandemic, with government support anticipated to stabilize consumption and potentially ease vehicle purchase restrictions[99]. - The market for new energy vehicles is projected to expand significantly, with major joint ventures launching new products in 2020[100]. - The implementation of the National VI emission standards is expected to impact the market, but the company remains optimistic about the long-term growth of imported vehicles[101]. Strategic Initiatives - The company aims to enhance its core capabilities and industry advantages, focusing on the entire automotive industry chain for future growth[41]. - The company plans to focus on high-quality development in 2020, emphasizing the expansion of automotive engineering and equipment manufacturing technology research and development[57]. - The company aims to innovate and explore new business models and technologies, including digital marketing and smart technology applications, as part of its strategic vision for the future[58]. - The company plans to accelerate the transformation towards "new four modernizations" in the automotive sector, focusing on technology and consumer preferences[100]. Corporate Social Responsibility - The company invested CNY 963,800 in improving educational conditions at a school in Huai Bin County, Henan Province[182]. - A total of CNY 400,000 was allocated to upgrade infrastructure in Fangjiazhuang Town, Tianjin, including road hardening and sewage network construction[182]. - The company helped 108 registered impoverished individuals to escape poverty during the reporting period[186]. - The company provided CNY 7.33 million in assistance to impoverished disabled individuals, helping 64 people[187]. Acquisitions and Restructuring - The company completed the acquisition of 100% equity in Zhongqi Engineering, leading to retrospective adjustments in financial statements[25]. - The company completed the acquisition of 100% equity in China Automotive Engineering Corporation from its controlling shareholder, enhancing its market position[94]. - The company issued 427,138,514 shares to acquire 100% equity of China National Automotive Engineering Co., Ltd. from Guoji Group[200]. - The total share capital of the company increased to 1,456,875,351 shares following the issuance[200]. Human Resources and Talent Management - The company recognizes the risk of insufficient talent in new business areas and will focus on improving its human resources management and talent development strategies[119].