CMST(SH:600787)2019-03-21 16:00Financial Performance - The company achieved a net profit of ¥477,764,713.78 in 2018, a decrease of 64.54% compared to ¥1,347,273,291.88 in 2017[26] - Total operating revenue for 2018 was ¥38,128,005,542.56, representing a year-on-year increase of 15.13% from ¥33,116,772,521.11 in 2017[26] - The net profit attributable to shareholders for 2018 was CNY 477.76 million, a decrease of 64.54% compared to CNY 1,347.27 million in the previous year[29] - Basic earnings per share for 2018 was CNY 0.2172, down 64.54% from CNY 0.6125 in 2017[29] - The total profit for the reporting period was ¥62,214.17 million, a significant decrease from ¥181,650.85 million in the previous year, mainly due to non-monetary asset exchange gains in the prior period[91] - The total profit decreased by CNY 119,436.68 million, representing a decline of 65.75% compared to the previous year[66] - Net profit was CNY 45,893.59 million, down 66.07% from the previous year, which was a decrease of CNY 89,380.41 million[66] Cash Flow and Dividends - The company distributed a cash dividend of ¥0.23 per share for the 2018 fiscal year, based on a total share count of 2,199,801,033 shares[6] - The company reported a significant decline in cash flow from operating activities, totaling ¥924,281,696.33, down 81.79% from ¥5,075,305,655.50 in 2017[26] - The company received a compensation income of 493 million yuan from the demolition of assets in Shenyang logistics center[50] - The company reported a net cash flow from operating activities of CNY 1.59 billion in Q4 2018, following a negative cash flow of CNY 1.15 billion in Q1 2018[32] Assets and Liabilities - Total assets at the end of 2018 reached CNY 22.54 billion, an increase of 16.74% from CNY 19.31 billion in 2017[29] - The company’s total liabilities decreased by 16.48% in the current period, reflecting improved financial stability[92] - The company's long-term equity investments amounted to ¥2,630,660,374.42, an increase of ¥19,854,520.02 or 0.76% compared to the beginning of the year, primarily due to capital increases in previously held companies[99] - The company’s long-term borrowings decreased by 25.22% to ¥193,700,000.00, mainly due to repayments of maturing loans[94] Operational Highlights - The company operates in the logistics sector, which has shown steady growth despite macroeconomic fluctuations in 2018[40] - The logistics platform "Zhongchu Zhi Yun" expanded its operations to 328 cities, covering nearly 8,000 transport routes, with a daily transport volume exceeding 340,000 tons and a monthly transaction amount surpassing 1.2 billion yuan[46] - The company has provided financial logistics services to over 5,000 SMEs, with a cumulative financing amount exceeding 600 billion yuan[49] - The company operates a logistics network covering over 20 provinces in China, with a land area of over 6 million square meters and an annual throughput capacity of 60 million tons[51] Strategic Initiatives - The company is actively developing a supply chain integration service platform, focusing on logistics, trade, finance, and information[46] - The company is exploring new internet financial logistics business models to improve customer dependency and service income[49] - The company is focusing on enhancing logistics infrastructure and aims to cultivate around 100 leading global supply chain enterprises by 2020[98] - The company is committed to expanding its logistics network and enhancing its domestic and international influence through innovative business models[131] Market Trends and Challenges - The logistics industry showed stable growth in 2018, with improved policy environment and modern logistics system development[57] - The overall logistics market is expected to face challenges due to rising operational costs and increasing regulatory pressures, necessitating strategic adaptations[123] - The demand for industrial logistics remains dominant, while the growth rate for logistics in high-energy-consuming industries is slowing down, indicating a shift in market dynamics[123] Legal Matters - The company has been actively involved in legal disputes that may impact its financial position, with several cases still pending resolution[176] - The company won a lawsuit against Zhangjiakou Detai Quante Special Steel Group Co., Ltd. involving an amount of CNY 120,257,000, with full bad debt provision already made, having no impact on the current profit and loss[169] - The company is facing a claim of CNY 58,571,900 due to a custody contract dispute, currently under review by the Beijing High Court[171] Future Outlook - The company's operating plan for 2019 targets total revenue of 45.335 billion RMB and operating costs of 43.881 billion RMB[128] - The company aims to deepen its supply chain product lines, focusing on the construction of steel supermarkets and aluminum platforms, with a goal for trial operations in 2019[128] - The company plans to optimize its smart logistics platform, enhancing features like intelligent matching and scheduling, and aims to establish a comprehensive logistics network[128]