TJ(SH:600667)2020-04-28 16:00Financial Performance - In 2019, the net profit attributable to shareholders of the parent company was ¥622,165,813.10, with a cumulative distributable profit of ¥353,915,609.66 by year-end[6]. - The proposed cash dividend distribution is ¥1.48 per 10 shares, totaling ¥311,716,146.34, which accounts for 50.10% of the net profit attributable to shareholders[6]. - The company’s operating revenue for 2019 was approximately ¥16.92 billion, representing an increase of 8.09% compared to ¥15.65 billion in 2018[30]. - The net profit attributable to shareholders for 2019 was approximately ¥622.17 million, an increase of 8.59% from ¥572.93 million in 2018[30]. - The net cash flow from operating activities for 2019 was approximately ¥1.68 billion, reflecting a significant increase of 30.27% compared to ¥1.29 billion in 2018[30]. - The total assets at the end of 2019 were approximately ¥20.05 billion, which is a 12.18% increase from ¥17.87 billion at the end of 2018[30]. - The net assets attributable to shareholders at the end of 2019 were approximately ¥6.83 billion, an increase of 6.09% from ¥6.44 billion at the end of 2018[30]. - The basic earnings per share for 2019 were ¥0.30, up 11.11% from ¥0.27 in 2018[30]. - The diluted earnings per share for 2019 were also ¥0.30, reflecting the same growth of 11.11% compared to ¥0.27 in 2018[30]. - The weighted average return on net assets for 2019 was 9.39%, an increase of 0.26 percentage points from 9.13% in 2018[30]. - The company reported a significant increase of 23.24% in net profit after deducting non-recurring gains and losses, reaching approximately ¥625.52 million in 2019[30]. - The company completed a total revenue of 1.69 billion RMB in 2019, with a year-on-year growth of 8.09%, and net profit attributable to shareholders was 622.17 million RMB, up 8.59%[92]. Dividend Policy - The company has established a cash dividend policy that states it will distribute at least 30% of the net profit attributable to shareholders in cash when conditions allow[198]. - For the fiscal year 2018, the net profit attributable to shareholders was ¥572,925,113.03, with a total cash dividend distribution of ¥288,548,054.39, representing 50.36% of the net profit[198]. - The cash dividend of ¥1.37 per 10 shares (including tax) was approved during the 2018 annual shareholders' meeting[198]. - The company has emphasized the importance of cash dividends to shareholders and has adhered to its established dividend policy throughout the reporting period[198]. - The cash dividend distribution was completed on May 23, 2019, following the announcement made on May 16, 2019[198]. - The company will continue to maintain a stable cash dividend policy in the future[198]. Business Strategy and Focus - The company plans to continue its focus on semiconductor technology and market expansion in the coming years[7]. - The company’s strategic focus includes enhancing product quality and expanding market presence through new technologies and potential acquisitions[30]. - The company plans to continue expanding its semiconductor business scope and scale, aiming to create new growth points[71]. - Eleven Technology is expanding into high-tech engineering services in the biopharmaceutical and data center sectors[186]. - The company is exploring market expansion opportunities in renewable energy sectors, particularly in solar and storage technologies[136]. Market and Industry Trends - In 2019, the global semiconductor market sales amounted to $412.1 billion, a year-on-year decline of 12.1%[57]. - The sales revenue of China's integrated circuit industry reached 756.23 billion yuan in 2019, with a year-on-year growth of 15.8%[57]. - The revenue from the semiconductor packaging and testing industry in China was 234.97 billion yuan, reflecting a year-on-year increase of 7.1%[57]. - The cumulative installed capacity of photovoltaic power generation in China reached 204.3 GW in 2019, with a year-on-year growth of 17.3%[61]. - The overall growth rate of the engineering technology service industry has slowed down due to a decrease in fixed asset investment growth, despite increasing demand from strategic emerging industries[120]. Risk Management - The company has identified risks related to macroeconomic changes, industry policy shifts, competitive pressures, and reliance on single customers, which are detailed in the report[8]. - The company emphasizes the importance of understanding the risks associated with forward-looking statements regarding future plans and strategies[7]. - The semiconductor business of Haite Company relies heavily on SK Hynix, which poses a risk if SK Hynix's performance declines[193]. - The company is facing risks from macroeconomic changes that could negatively impact its engineering design and total contracting business[189]. - The introduction of new policies has led to a reduction in the benchmark on-grid electricity prices for solar photovoltaic power stations, affecting the company's overall performance[191]. - The company is committed to optimizing management by enhancing risk prevention and control measures across various operational areas[188]. Operational Performance - The company has not engaged in non-operational fund occupation by controlling shareholders or related parties[8]. - There are no violations of decision-making procedures regarding external guarantees[8]. - The company reported a total of approximately RMB 321.11 million in fair value measurement for trading financial assets at the beginning of the year, which increased to approximately RMB 585.19 million by the end of the year[39]. - The company utilizes a dynamic management approach for supplier selection and evaluation, ensuring quality control in procurement processes[51]. - The company’s engineering design process includes multiple stages, ensuring quality through design input, review, verification, output, and confirmation[50]. - The company reduced sales expenses by 32.31% compared to the previous year, mainly due to a decrease in the scope of consolidation after selling Jiangsu Taiji equity[95]. - Research and development expenses rose by 10.87% to 501.08 million RMB, indicating a continued focus on innovation[95]. - The company has 1,217 R&D personnel, accounting for 16.32% of the total workforce[110]. Project Development - Major projects in 2019 included winning contracts for the Dalian Matsushita Automotive Energy project, with total contract amounts exceeding 100 million yuan[82]. - The company has ongoing projects with a total investment of 3,367,273.39 thousand CNY, including 14 projects in various stages of completion[135]. - The Longxin 12-inch storage wafer manufacturing project has achieved 88% completion, with a project amount of 629,530 thousand CNY and revenue recognized of 120,689.28 thousand CNY[136]. - The completion progress of the 12-inch advanced production line project at Shanghai Huahong Integrated Circuit Manufacturing Co., Ltd. is 52% as of December 31, 2019[142]. - The total amount for the Wuxi Huahong Semiconductor project is 242,991.98 million RMB, with a completion rate of 43%[145]. Revenue Breakdown - The semiconductor business generated 430.74 million RMB, accounting for 25.46% of the total revenue, while the engineering contracting business contributed 1.02 billion RMB, representing 60.48%[92]. - The revenue from the photovoltaic power generation segment was CNY 404,806,088.75, with a year-on-year increase of 27.29%[97]. - The semiconductor segment reported revenue of CNY 4,307,409,369.97, reflecting a year-on-year increase of 4.40%[97]. - The total revenue from engineering technology services was CNY 12,092,644,790.40, with a year-on-year increase of 16.36%[97]. - The revenue from the engineering contracting segment was CNY 10,232,077,444.30, showing a year-on-year increase of 19.58%[97].