XJJW(SH:600888)2020-03-23 16:00Financial Performance - The company's operating revenue for 2019 was CNY 4,747,800,917.29, a decrease of 2.53% compared to CNY 4,870,971,684.44 in 2018[23] - The net profit attributable to shareholders for 2019 was CNY 140,536,441.27, down 22.52% from CNY 181,382,572.19 in the previous year[23] - The net cash flow from operating activities decreased by 62.70% to CNY 203,392,375.98 in 2019, compared to CNY 545,231,562.18 in 2018[23] - Basic earnings per share decreased by 30.28% to CNY 0.1517 in 2019 compared to CNY 0.2176 in 2018[25] - Diluted earnings per share also fell by 30.03% to CNY 0.1517 in 2019 from CNY 0.2168 in 2018[25] - The weighted average return on equity decreased by 1.6989 percentage points to 3.5052% in 2019 from 5.2041% in 2018[25] - The company reported a net profit of CNY 108,143,471.55 after deducting non-recurring gains and losses, which is a 2.29% increase from CNY 105,719,471.43 in 2018[23] - The company achieved operating revenue of CNY 4,747.80 million, a decrease of 2.53% year-on-year[47] - The net profit attributable to shareholders was CNY 140.54 million, down 22.52% compared to the previous year[47] - The net cash flow from operating activities was 203.39 million RMB, a decrease of 62.70% year-on-year[65] Assets and Liabilities - The total assets at the end of 2019 were CNY 11,699,886,742.66, an increase of 12.23% from CNY 10,424,942,452.23 at the end of 2018[24] - The net assets attributable to shareholders increased by 24.23% to CNY 4,445,788,988.06 at the end of 2019, compared to CNY 3,578,643,419.08 at the end of 2018[24] - The total liabilities rose from CNY 6.771 billion to CNY 7.159 billion, resulting in a decrease in the debt-to-asset ratio from 64.95% to 61.19%[154] - The company’s other receivables at the end of the reporting period amounted to 1.00 billion RMB, representing 0.86% of total assets[70] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.6 per 10 shares, totaling CNY 61,482,324.00, based on a total share capital of 1,024,705,400 shares[7] - In 2019, the company distributed 0.6 RMB per 10 shares, amounting to 61,482,324.00 RMB, representing 43.75% of the net profit attributable to shareholders[97] - The company has a commitment to stable shareholder returns, with a profit distribution plan in place for 2018-2020[96] Research and Development - Research and development expenses increased by 31.13% to CNY 48.24 million[49] - The company has accumulated nearly 100 patents and proprietary technologies, with core products supported by 12 software copyrights, enhancing its technological strength[36] - The company has established a "post-doctoral research workstation" and a "national-local joint engineering laboratory for aluminum electronic materials," indicating strong R&D capabilities[36] - The company plans to focus on R&D for electronic aluminum foil and electrode foil products, as well as high-purity aluminum for aerospace and semiconductor applications[62] Market and Sales - The sales model is primarily direct sales, focusing on domestic markets with some exports[33] - The company has actively expanded its market share by providing differentiated products and enhancing customer loyalty amid declining market demand[43] - The company aims to enhance its electronic new materials industry chain and increase market share in high-end aluminum products[83] Environmental and Social Responsibility - The company emitted 128.82 tons of sulfur dioxide, 220.27 tons of nitrogen oxides, and 20.20 tons of particulate matter, all below the government-approved limits[136] - The company has invested in a selective catalytic reduction (SCR) system to significantly reduce nitrogen oxide emissions from its 2*150MW cogeneration units[137] - The company has committed to various charitable activities, including donations of agricultural machinery and educational materials to improve the living conditions of villagers[133] - The company received the "2018 Annual Autonomous Region Poverty Alleviation Award - Dedication Award" for its efforts in poverty alleviation[132] Governance and Compliance - The company appointed Zhongshun Huanhua Accounting Firm as the financial audit institution for the 2019 fiscal year, after changing from Lixin Accounting Firm in 2018[107] - The audit report confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2019, and its operating results for the year[200] - There were no significant deficiencies in internal controls reported during the period[197] - The independent directors did not raise any objections to the company's matters during the reporting period[194] Future Outlook and Strategy - The company plans to achieve a revenue of 5 billion RMB in 2020, with a cost control target of 4.15 billion RMB[84] - Future outlook remains positive, with strategic plans for market expansion and potential mergers and acquisitions being discussed[179] - The company is focusing on increasing the proportion of high-value-added products to improve overall profitability amidst market challenges[92]