Tuopu Group(SH:601689)2020-04-28 16:00Financial Performance - In 2019, the company achieved a net profit of CNY 465,639,019.99, with a distributable profit of CNY 419,075,117.99 after statutory reserve allocation[3]. - The total revenue for 2019 was CNY 5,358,953,813.60, representing a decrease of 10.45% compared to 2018[15]. - The net profit attributable to shareholders decreased by 39.44% to CNY 456,205,818.45 in 2019 from CNY 753,316,112.69 in 2018[15]. - The company reported a net profit excluding non-recurring gains and losses of CNY 414,524,818.47, down 38.88% from the previous year[15]. - Basic earnings per share decreased by 39.44% to CNY 0.43 in 2019 from CNY 0.71 in 2018[17]. - The weighted average return on equity dropped by 4.76 percentage points to 6.25% in 2019 from 11.01% in 2018[17]. - The total comprehensive income for 2019 was CNY 458,367,809.41, a decrease of 39.3% compared to CNY 754,131,385.13 in 2018[164]. - The net profit for 2019 was CNY 460,046,632.02, down 39.1% from CNY 755,321,659.21 in 2018[164]. - The total profit for 2019 was CNY 528,752,406.56, a decrease of 39.7% compared to CNY 877,214,550.07 in 2018[165]. Cash Flow - The net cash flow from operating activities increased by 104.75% to CNY 1,239,421,359.40 in 2019[15]. - The company reported a net cash flow from operating activities of CNY 465,552,971.08 in Q4 2019[19]. - Total cash inflow from operating activities amounted to CNY 6,167,163,052.62, while cash outflow was CNY 4,927,741,693.22, resulting in a net cash inflow of CNY 1,239,421,359.40[168]. - The company reported a decrease in cash inflow from investment activities, totaling CNY 2,672,695,586.75 in 2019 compared to CNY 3,007,011,128.57 in 2018, reflecting a decline of about 11.1%[168]. - The financing activities generated a net cash outflow of CNY 241,140,065.30, compared to a net outflow of CNY 249,775,463.96 in 2018, indicating a slight improvement[168]. Assets and Liabilities - The total assets of the company at the end of 2019 were CNY 11,234,314,273.34, reflecting a growth of 3.06% from the previous year[16]. - The company’s total liabilities at the end of the period were CNY 5,000,000,000, with a significant portion secured by fixed assets[43]. - The company’s total non-current assets increased to CNY 5,801,398,135.88 in 2019 from CNY 5,230,104,152.52 in 2018, reflecting a growth of about 10.9%[153]. - Total liabilities rose to CNY 3,829,664,988.34 in 2019, compared to CNY 3,654,651,447.65 in 2018, marking an increase of about 4.8%[154]. - Shareholders' equity increased to CNY 7,404,649,285.00 in 2019 from CNY 7,246,043,511.89 in 2018, representing a growth of approximately 2.2%[154]. Research and Development - R&D investment remains around 5% of revenue, with the company holding numerous patents and having R&D centers in eight major cities globally[24]. - R&D expenses increased by 9.32% to CNY 314 million, reflecting the company's commitment to innovation despite cost control measures[34]. - Research and development expenses increased to CNY 314,307,191.22 in 2019, up from CNY 287,506,882.28 in 2018, reflecting a focus on innovation[160]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 1.90 per 10 shares, totaling CNY 200,447,672.31[3]. - The company plans to distribute approximately CNY 200 million in dividends, representing 44% of the net profit for the year[24]. - In 2019, the company distributed a cash dividend of 1.90 RMB per 10 shares, totaling 200,447,672.31 RMB, which accounted for 43.94% of the net profit attributable to ordinary shareholders[58]. - The cash dividend in 2019 was lower than the previous year's distribution, reflecting a strategic adjustment in profit allocation[58]. Market Performance - The automotive parts segment generated revenue of CNY 5.17 billion, a decline of 11.21% year-on-year, with a gross margin of 24.71%[30]. - The domestic market revenue decreased by 16.38% to CNY 4.03 billion, while the international market revenue increased by 13.81% to CNY 1.13 billion[30]. - The company achieved a total revenue of CNY 5.36 billion in 2019, a decrease of 10.45% year-on-year[27]. Corporate Governance - The company has established a shareholder dividend return plan for 2018-2020 to ensure the continuity and stability of profit distribution policies[57]. - The company has maintained a stable relationship with its auditing firm, Lixin Accounting Firm, which has been engaged for 9 years[71]. - The company received an unqualified audit opinion for its financial statements for the year ended December 31, 2019, indicating fair representation of its financial position[142]. Environmental Compliance - The company has implemented an intelligent wastewater treatment control system to ensure compliance with environmental standards[93]. - The company has established a hazardous waste management system in accordance with national regulations[93]. - The company has successfully passed environmental inspections and is committed to minimizing environmental impact through compliance with national discharge standards[96]. Employee and Workforce - The total number of employees in the parent company is 4,162, while the total number of employees in major subsidiaries is 3,321, resulting in a combined total of 7,483 employees[128]. - The company emphasizes a sustainable development philosophy, continuously improving employee welfare to share the benefits of company growth[129]. - The company has established a systematic and efficient training system to meet talent needs in various areas, including R&D, production, and sales[130]. Financial Instruments and Accounting Policies - The company’s financial instruments accounting policies have been effective since January 1, 2019, aligning with the new accounting standards[192]. - The company recognizes assets and liabilities related to joint operations based on its share, confirming revenues and expenses accordingly[189]. - The company applies a weighted average method for inventory valuation upon issuance, with inventory classified into raw materials, turnover materials, finished goods, work in progress, and goods dispatched[199].