SINOJIT Technology(SH:601218)2019-04-10 16:00Financial Performance - In 2018, the company's operating revenue was CNY 1,268,669,773.61, a decrease of 5.95% compared to CNY 1,348,925,012.49 in 2017[20]. - The net profit attributable to shareholders was a loss of CNY 59,258,763.48, a significant decline from a profit of CNY 6,074,031.89 in 2017, representing a decrease of 1,075.61%[20]. - The basic earnings per share for 2018 was -CNY 0.0598, down 1,080.33% from CNY 0.0061 in 2017[21]. - The company achieved operating revenue of 1.269 billion RMB, a decrease of 5.95% year-on-year, while operating costs rose to 1.226 billion RMB, an increase of 6.32%[37]. - The company reported a net loss of CNY 66,278,170.93 for 2018, compared to a net profit of CNY 2,005,655.44 in the previous year[151]. - The total comprehensive income for the year was a loss of CNY 67,363,962.69, compared to a profit of CNY 4,730,416.47 in the previous year[156]. - The company reported a total comprehensive loss of 59,258,763.48 RMB for the year, highlighting challenges in profitability[164]. Assets and Liabilities - The total assets at the end of 2018 were CNY 4,449,224,982.76, an increase of 8.01% from CNY 4,119,242,379.72 at the end of 2017[20]. - Total liabilities increased to CNY 1,929,402,503.61 from CNY 1,523,224,129.64, marking an increase of approximately 26.7%[146]. - The total equity attributable to shareholders decreased to CNY 2,483,215,855.50 from CNY 2,552,392,218.98, a decline of approximately 2.7%[146]. - The company's total liabilities to equity ratio increased, indicating a higher leverage position compared to the previous year[146]. Cash Flow - The net cash flow from operating activities was CNY 82,282,973.06, an increase of 22.97% compared to CNY 66,911,219.85 in 2017[20]. - The cash flow from financing activities decreased by 26.3% to 228,770,632.78 CNY compared to the previous year[51]. - The net cash flow from financing activities was -135,077,152.87 RMB, a decline from 89,617,267.85 RMB in the previous year, indicating increased financial pressure[162]. Research and Development - The company invested ¥43.49 million in R&D during the reporting period, enhancing its technological capabilities and competitiveness[32]. - The company completed the development and verification of 90 new products, with a first-time pass rate of 95.7% for 46 products validated this year[34]. - Research and development expenses amounted to 43,492,352.66 CNY, representing 3.43% of total revenue, with 132 R&D personnel making up 16.71% of the total workforce[49]. Market Position and Strategy - The company has established long-term cooperative relationships with major wind turbine manufacturers, including GE and Goldwind, enhancing its market position[32]. - The company plans to enhance its market competitiveness by transitioning to "grid parity" for wind power, eliminating reliance on subsidies[59]. - The company aims to increase the share of non-fossil energy in primary energy consumption to 15% by 2020 and 20% by 2030, aligning with national energy reform goals[58]. Governance and Compliance - The company has implemented a robust governance structure to protect shareholder rights, ensuring compliance with relevant laws and regulations[88]. - The company has not faced any penalties from securities regulatory authorities in the past three years[113]. - The company has confirmed that there are no related party transactions that could lead to conflicts of interest[78]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 55,046, an increase from 53,654 at the end of the previous month[96]. - The largest shareholder, Bao Shijin, holds 361,884,588 shares, representing 36.49% of the total shares[97]. - The company has not provided any specific future performance guidance or market expansion strategies[107]. Social Responsibility - The company actively participates in social welfare activities, demonstrating a commitment to corporate social responsibility[89]. - The company donated nearly 300,000 RMB to educational reward funds and public welfare organizations during the reporting period[89]. Financial Reporting and Accounting - The company’s financial statements are prepared based on the assumption of going concern, confirming its ability to continue operations for the next 12 months[180]. - The company’s accounting policies comply with the requirements of the enterprise accounting standards, ensuring accurate financial reporting[182]. - The company has undergone a change in accounting policy effective January 1, 2019, due to the Ministry of Finance's new regulations, which does not materially affect total assets, net assets, or operating results[74].