Silan(SH:600460)2019-03-29 16:00Financial Performance - The company's operating revenue for 2018 was CNY 3,025,857,115.44, representing a 10.36% increase compared to the previous year[19]. - The net profit attributable to shareholders for 2018 was CNY 170,462,588.85, a slight increase of 0.58% year-over-year[19]. - The net cash flow from operating activities decreased by 48.00% to CNY 240,596,119.24 in 2018[19]. - The company's total assets increased by 29.93% to CNY 8,126,368,334.95 at the end of 2018[19]. - Basic earnings per share for 2018 were CNY 0.13, down 7.14% from CNY 0.14 in 2017[21]. - Operating profit decreased by 33.06% to CNY 79.81 million, while total profit fell by 32.79% to CNY 79.92 million[37]. - The total revenue for 2018 was significantly impacted by a 48.00% decrease in net cash flow from operating activities, amounting to ¥240,596,119.24 compared to ¥462,690,854.30 in 2017[50]. - The company reported a significant increase in accounts receivable and accounts payable, with accounts receivable totaling approximately ¥1.03 billion in the new reporting format[85]. - The company’s net profit attributable to ordinary shareholders for 2018 was approximately ¥170.46 million, a slight increase from ¥169.49 million in 2017[81]. Research and Development - The company has established a comprehensive R&D system, focusing on chip design and process technology, with a team of over 350 in chip design and over 1,500 in process and packaging technology[34]. - The total R&D expenditure for 2018 was approximately 350 million yuan, accounting for 109.38% of the annual plan, with an expected increase to about 400 million yuan in 2019[74]. - The company plans to enhance product value and create social benefits while achieving good economic returns[67]. - The company aims to accelerate the development of new products such as IGBT, smart power modules, and MEMS sensors under the IDM model[67]. - The company will continue to enhance its MEMS sensor R&D efforts, aiming to accelerate the market introduction of various sensor products[68]. Market and Product Development - The company plans to continue expanding its market presence and developing new semiconductor technologies[27]. - The revenue from discrete devices reached 1,475 million yuan, growing by 28.65% compared to the previous year, driven by the rapid output growth from the 8-inch chip production line[36]. - The company launched over 3 million IPM modules in domestic white goods, marking a 50% increase from 2017[35]. - The company has successfully developed a series of MEMS sensor products, with expected rapid growth in shipments in 2019[35]. - The company aims to achieve total revenue of approximately 3.631 billion yuan in 2019, representing a growth of around 20% compared to 2018[69]. Financial Management - The company plans to maintain a cash dividend policy, distributing at least 30% of the average distributable profit over three consecutive years, provided certain conditions are met[78]. - In 2018, the company distributed cash dividends totaling approximately ¥52.48 million, representing 30.79% of the net profit attributable to ordinary shareholders[81]. - The company received government subsidies amounting to approximately ¥110.29 million, which were reclassified in the cash flow statement[86]. - The company has not proposed any cash profit distribution plan for ordinary shareholders despite having positive distributable profits[82]. - The company has not made any significant changes to its cash asset management strategies[98]. Corporate Governance - The board of directors and senior management have confirmed the accuracy and completeness of the annual report[2]. - The company has a strong governance structure with independent directors and a supervisory board in place[128]. - The board of directors approved the adjustment of the number of directors from 11 to 12, with the election of Wang Huilian and Zhou Wei as new directors[126]. - The company has maintained a consistent management structure since its establishment in 1997, with key personnel holding long-term positions[128]. - The company has not faced any penalties from securities regulatory agencies in the past three years[132]. Environmental Responsibility - The company has established environmental protection measures, with all major pollutants meeting the required discharge standards[104]. - The company has implemented emergency response plans for environmental incidents and conducts regular training and drills[105]. - The company has developed self-monitoring plans for environmental pollutants in compliance with legal regulations[106]. - The company has not disclosed any significant environmental impacts from its operations outside of key pollutant units[106]. Shareholder Information - The total number of ordinary shares increased from 1,247,168,000 to 1,312,061,614 shares during the reporting period, reflecting an increase of 64,893,614 shares[113]. - The largest shareholder, Hangzhou Silan Holdings Co., Ltd., holds 513,503,234 shares, accounting for 39.14% of the total shares[115]. - The company has a total of 132,000,000 pledged shares, primarily by Hangzhou Silan Holdings Co., Ltd.[115]. - The total number of ordinary shareholders reached 142,352 by the end of the reporting period, up from 138,922 at the end of the previous month[114]. - The company’s total equity structure has changed due to the increase in share capital from the issuance[113]. Risk Factors - The company acknowledges macroeconomic risks, including trade tensions and policy uncertainties, which may impact the semiconductor industry[71]. - The company emphasizes that forward-looking statements do not constitute substantive commitments to investors, highlighting investment risks[5]. - The company has detailed risk factors in its report, including potential challenges in future development[6]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Certified Public Accountants[3]. - There are no non-operating fund occupations by controlling shareholders or related parties[5]. - The company has not violated decision-making procedures for external guarantees[6]. - The company has not provided any external guarantees, with a total guarantee amount of 0, which accounts for 0% of the company's net assets[96].