WXHS(SH:603090)2020-03-30 16:00Financial Performance - The company's operating revenue for 2019 was approximately ¥490.76 million, representing an 18.22% increase compared to ¥415.14 million in 2018[21]. - The net profit attributable to shareholders decreased by 4.88% to approximately ¥31.03 million in 2019 from ¥32.62 million in 2018[21]. - The basic earnings per share for 2019 was ¥0.31, down 6.06% from ¥0.33 in 2018[22]. - The total assets increased by 13.07% to approximately ¥750.60 million at the end of 2019, compared to ¥663.83 million at the end of 2018[21]. - The company reported a net cash flow from operating activities of approximately ¥26.13 million in 2019, a decrease of 2.76% from ¥26.87 million in 2018[21]. - The weighted average return on equity for 2019 was 6.33%, down from 6.95% in 2018[22]. - The gross profit margin for the main business was 24.85%, a decrease of 2.15 percentage points compared to the previous year[39]. - The total sales volume of aluminum plate fin heat exchangers was approximately 6,950 tons, a year-on-year decrease of 18.20%[35]. Dividend Policy - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares, totaling 10,000,000 RMB based on a total share capital of 100,000,000 shares as of December 31, 2019[5]. - The dividend payout ratio for 2019 was 32.22%, with a total distribution of 10 million RMB based on a net profit of approximately 31 million RMB[71]. - The company has maintained a consistent cash dividend distribution over the past three years, with similar payouts in 2017 and 2018[71]. - There are no plans for share buybacks to be included in cash dividends during the reporting period[72]. Audit and Compliance - The company received a standard unqualified audit report from Zhongxinghua Accounting Firm, ensuring the financial report's authenticity and completeness[4]. - The company appointed Zhongxinghua Accounting Firm as its auditor, with specific auditors responsible for the financial review[19]. - The audit report indicated that the financial statements fairly reflect the company's financial position as of December 31, 2019[135]. - The internal control audit report confirmed the effectiveness of the company's internal controls for the year[140]. Risk Management - The company has outlined potential risks in the industry and policy areas that may impact future performance, as detailed in the report[7]. - The company emphasizes the importance of investor awareness regarding uncertainties in forward-looking statements and potential investment risks[6]. - The company has committed to avoiding any related party transactions that could harm its interests[76]. - The company has not faced any risks of suspension or termination of listing[79]. Corporate Governance - The company has maintained a consistent operational structure without significant changes in its governance or management personnel[8]. - The company has a total of 5 directors, including 2 independent directors, and held 8 board meetings during the reporting period[125]. - The company has implemented a salary system that links fixed salary adjustments and bonuses to company, department, and individual performance[121]. - The company has established a mechanism for evaluating and incentivizing senior management, although specific details were not disclosed[130]. Market and Industry Position - The company primarily engages in the research, design, production, and sales of aluminum plate-fin heat exchangers and cryogenic equipment, with significant applications in various industries[28]. - Approximately 80% of the company's heat exchanger products are exported to regions including the Americas, Europe, and Asia[29]. - The company anticipates growth opportunities in the cryogenic equipment market due to rising investments in the coal chemical, petrochemical, and natural gas industries during the 13th Five-Year Plan period[30]. - Major export markets include the US, South Korea, EU, and India; shifts towards trade protectionism in these regions could weaken price advantages and affect sales growth[68]. Environmental Responsibility - The company reported no production wastewater discharge, with a rainwater and sewage diversion system implemented[94]. - The company has engaged in the safe disposal of hazardous waste through authorized disposal companies, ensuring environmental responsibility[94]. - The company has implemented effective noise reduction measures in its production facilities, ensuring compliance with environmental standards[94]. Shareholder Information - The total number of ordinary shareholders increased from 10,824 to 11,507 during the reporting period, indicating a growth of approximately 6.3%[99]. - The top two shareholders, Niu Yuxia and Niu Faqing, hold 54,675,000 shares (54.68%) and 4,643,700 shares (4.64%) respectively, with no shares pledged or frozen[101]. - The company has no convertible bonds or significant changes in its ordinary share capital structure during the reporting period[96]. Financial Products and Investments - The company has a total of 10,000,000.00 in financial products with a return rate of 2.05% for the period ending in March 2019[88]. - The company achieved a revenue of 13,972.60 from its financial products, indicating a significant performance in the market[88]. - The average annualized return for brokerage wealth management products was 3.00%[87]. - The company is focused on expanding its financial product offerings to enhance revenue streams and market presence[88].