WXHS(SH:603090)2019-03-28 16:00Financial Performance - The company's operating revenue for 2018 was CNY 415,142,927.25, representing a year-on-year increase of 12.83% compared to CNY 367,951,683.19 in 2017[22]. - The net profit attributable to shareholders of the listed company reached CNY 32,623,930.44 in 2018, a significant increase of 32.89% from CNY 24,550,223.64 in 2017[22]. - The net cash flow from operating activities was CNY 26,866,886.96, marking a substantial increase of 131.80% compared to CNY 11,590,792.20 in the previous year[22]. - The total assets of the company at the end of 2018 were CNY 663,829,575.12, which is a 10.51% increase from CNY 600,702,483.66 at the end of 2017[22]. - The basic earnings per share for 2018 was CNY 0.33, reflecting a 32.00% increase from CNY 0.25 in 2017[23]. - The company reported a total revenue of 1.3 billion RMB for the fiscal year 2018, reflecting a year-on-year growth of 15%[78]. - The company reported a comprehensive income total of ¥33,585,625.57, compared to ¥26,130,896.29 in the previous year, an increase of 28.5%[162]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 1.00 CNY per 10 shares, totaling 10,000,000.00 CNY for the year 2018[5]. - The company has a cash dividend policy that includes a distribution of 1 RMB per 10 shares for the 2017 fiscal year, reflecting a commitment to shareholder returns[71]. Audit and Compliance - The company has received a standard unqualified audit report from Zhongxinghua Accounting Firm[4]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not reported any significant accounting errors or changes in accounting estimates for the year[81]. - The auditor's report indicated that there were no significant misstatements in the financial statements[150]. - The company has not faced any penalties from securities regulatory agencies in the past three years[125]. Risk Management - The company has detailed the industry and policy risks in its report, highlighting potential impacts[7]. - The company emphasizes the importance of investment risk awareness due to uncertainties in forward-looking statements[6]. - The company faced a 25% tariff on products exported to the U.S., which accounted for about 25% of its total revenue[33]. - The company faces risks from macroeconomic fluctuations, which could lead to reduced orders and slower payment collection[66]. Product Development and Market Presence - The company has established a strong product development and design capability, utilizing advanced simulation and testing systems to enhance efficiency and accuracy in product design[30]. - The company has obtained various international quality certifications, including ASME and CE, to ensure compliance with global quality standards[30]. - Approximately 80% of the company's products are exported to regions including the Americas, Europe, and Asia, indicating a strong international market presence[29]. - The company plans to focus on compact and efficient heat exchangers, adapting to the increasing power output and reduced installation space in machinery[61]. - The company aims to strengthen its competitive edge in the aluminum plate-fin heat exchanger market through the development of high-pressure products and electric vehicle thermal management systems[65]. Financial Position and Assets - The total assets of the company amounted to 663.83 million yuan, up 10.51% year-on-year[35]. - The company's cash and cash equivalents decreased to CNY 49,671,673.69 from CNY 114,058,972.07, representing a decline of approximately 56.5%[155]. - Total liabilities reached CNY 175,127,957.73, compared to CNY 135,586,491.84 at the beginning of the year, reflecting an increase of about 29.1%[156]. - The total equity attributable to shareholders increased to CNY 480,503,165.53 from CNY 458,476,365.95, indicating a growth of approximately 4.8%[157]. Shareholder Structure and Management - The company has a total of 11,779 common stock shareholders at the end of the reporting period, an increase from 11,417 in the previous month[103]. - The largest shareholder, Niu Yuxia, holds 54,675,000 shares, representing 54.68% of the total shares[105]. - The company has a clear ownership structure with no special circumstances regarding controlling shareholders[113]. - The company has a total of 59,839,350 shares held by directors and senior management, with a total remuneration of 417.88 million yuan for the reporting period[118]. Employee and Corporate Governance - The total number of employees in the parent company is 473, while the total number of employees in major subsidiaries is 286, resulting in a combined total of 759 employees[126]. - The company has implemented a labor outsourcing model with a total of 182,400 hours outsourced and total payments amounting to ¥6,566,268.58[130]. - The company has established a performance evaluation system and incentive mechanisms to attract and retain talent, aiming for sustainable human resource development[129]. - The company has maintained compliance with corporate governance regulations, with no significant discrepancies noted with the requirements of the China Securities Regulatory Commission[134]. Environmental and Social Responsibility - The company has eliminated its original acid-base cleaning production line, resulting in zero production wastewater discharge[96]. - The wastewater from the gas-tightness testing section and jacket cooling water is recycled and not discharged externally[96]. - The company uses activated carbon adsorption for waste gas from ultrasonic cleaning processes, which is then released at high altitudes[96]. - The company has implemented effective noise reduction measures in its production workshop[96]. Future Outlook - The company plans to achieve operating revenue exceeding 500 million RMB in 2019, focusing on expanding the cryogenic equipment business while consolidating its mechanical manufacturing market[64]. - The company is investing in a project to produce 100,000 cooling module units annually, expected to be operational in 2019, to enhance product value and expand capacity[65]. - The company is actively seeking mergers and acquisitions to enhance its long-term competitive advantage and achieve greater economies of scale[65].