HOMEY(SH:600467)2019-04-25 16:00Financial Performance - In 2018, the company's operating revenue was CNY 1,149,831,070.21, a decrease of 4.81% compared to CNY 1,207,911,835.31 in 2017[20]. - The net profit attributable to shareholders was CNY 62,036,482.65, representing a 15.89% increase from CNY 53,530,874.21 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was CNY 45,987,281.97, which is a 26.40% increase compared to CNY 36,382,904.89 in 2017[20]. - The cash flow from operating activities was CNY 256,377,347.47, down 20.71% from CNY 323,345,519.85 in 2017[20]. - The total revenue for Q1 2018 was CNY 318,231,739.50, with a notable increase in Q2 to CNY 219,093,780.15[24]. - The company reported a total revenue of 278.934 million RMB across various subsidiaries, with a net loss of 1.965 million RMB[84]. - The company reported a significant increase in investment income, which rose to CNY 109,901,577.74 from CNY 19,949,151.59 in 2017[180]. - The comprehensive income for the year amounted to CNY 63,627,744.77, which includes a total of CNY 62,036,482.65 from other comprehensive income[194]. Assets and Liabilities - As of the end of 2018, the total assets amounted to CNY 5,957,042,015.10, an increase of 2.82% from CNY 5,793,424,719.57 at the end of 2017[20]. - Total liabilities reached CNY 2,899,464,171.13, up from CNY 2,780,325,433.03 in the previous year, indicating an increase of about 4.29%[168]. - The company's current assets totaled CNY 1,834,165,381.66, compared to CNY 1,743,739,863.81 in 2017, representing a growth of approximately 5.19%[167]. - Cash and cash equivalents decreased to CNY 683,136,830.37 from CNY 753,533,904.26, a decline of about 9.29%[166]. - Inventory increased significantly to CNY 982,387,849.55, up from CNY 823,903,800.57, marking a rise of approximately 19.25%[167]. - The company's total liabilities to total assets ratio was approximately 48.66%, compared to 48.00% in the previous year, indicating a slight increase in leverage[168]. Shareholder Information - The company proposed a cash dividend of CNY 0.13 per 10 shares, totaling CNY 18,992,925.95 to be distributed to shareholders[5]. - The total share capital remained unchanged at 1,460,994,304 shares as of the end of 2018[20]. - The largest shareholder, Haodangjia Group, holds 597,525,190 shares, accounting for 40.90% of total shares[123]. - The company has 76,597 ordinary shareholders as of the end of the reporting period[121]. Research and Development - The company reported a significant reduction in research and development expenses, which decreased by 70.32% to CNY 1.55 million, attributed to fewer R&D projects in the year[49]. - Total R&D expenses amounted to ¥1,551,053.50, representing 0.13% of operating revenue[53]. - The company has established partnerships with research institutions to enhance its technological capabilities and develop new products[33]. Operational Strategy - The company has established a comprehensive sea cucumber industry chain, enhancing its competitive advantages in cost and risk management[31]. - The company aims to optimize its structure and accelerate industrial upgrades to enhance production and marketing capabilities[31]. - The company is focused on developing high-value functional marine foods and health products, contributing to its market leadership[31]. - The company has implemented a "seed only, no feed" aquaculture philosophy, ensuring a natural growth environment for sea cucumbers[66]. Social Responsibility - The company is actively engaged in poverty alleviation efforts, providing 1,000 RMB annually to 10 impoverished individuals for 10 years, totaling 100,000 RMB[111]. - The total funds allocated for poverty alleviation amounted to RMB 1,033.60 million, helping 352 registered impoverished individuals to escape poverty[115]. - The company received the Rongcheng Charity Association Award and the Weihai Charity Award for its social responsibility efforts[116]. Audit and Compliance - The company engaged Shandong Hexin Accounting Firm to conduct an independent audit of the effectiveness of internal controls, confirming the absence of significant deficiencies in internal control for the reporting period[151]. - The audit report indicated that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2018[155]. - The management is responsible for ensuring that the financial statements are prepared in accordance with accounting standards and that internal controls are designed to prevent material misstatements due to fraud or error[162]. Market Position - The company is the largest sea cucumber farming enterprise in China, benefiting from supportive industry policies[59]. - The company has maintained organic product certification for 10 consecutive years, reflecting its commitment to quality and sustainability[31]. - The company has established a comprehensive "seedling - breeding - processing - sales" integrated system, enhancing its competitive advantages[60].