Tederic(SH:603289)2019-04-11 16:00Financial Performance - The net profit attributable to the shareholders of the parent company for 2018 was CNY 100,572,503.24, with the parent company achieving a net profit of CNY 89,959,419.98 after a 10% statutory surplus reserve of CNY 8,995,942.00 was deducted[5]. - The distributable profit for the parent company in 2018 was CNY 80,963,477.98, with a cumulative undistributed profit of CNY 303,544,403.70 as of December 31, 2018, after deducting cash dividends of CNY 26,520,000.00 distributed during the year[5]. - The proposed cash dividend distribution plan is CNY 2.00 per 10 shares, totaling CNY 53,360,000.00 to be distributed to all shareholders based on a total share capital of 266,800,000 shares as of April 10, 2019[5]. - The company's operating revenue for 2018 was ¥792.34 million, representing a 12.68% increase compared to ¥703.17 million in 2017[24]. - Net profit attributable to shareholders for 2018 was ¥100.57 million, a 20.43% increase from ¥83.51 million in 2017[24]. - The basic earnings per share for 2018 decreased by 5.00% to ¥0.38 from ¥0.40 in 2017[25]. - The weighted average return on equity for 2018 was 10.93%, down 4.18 percentage points from 15.11% in 2017[25]. - The company's total assets at the end of 2018 were ¥1.31 billion, a 2.74% increase from ¥1.28 billion at the end of 2017[24]. - The cash flow from operating activities for 2018 was ¥83.12 million, reflecting a 19.81% increase from ¥69.38 million in 2017[24]. - The company's gross profit margin was 28.91%, a slight decrease of 1.56 percentage points from the previous year[97]. - The company reported a significant increase in bank interest income and investment returns, totaling ¥14,604,260.26, a 447.75% increase year-on-year[97]. - The company achieved operating revenue of ¥792,342,286.51, representing a year-on-year growth of 12.68%[88]. - The net profit attributable to the parent company was ¥100,572,503.24, with a year-on-year increase of 20.43%[88]. - Domestic sales revenue reached ¥541,472,804.19, up 26.25% year-on-year, accounting for 68.34% of total revenue[88]. - R&D expenses totaled ¥35,874,142.63, reflecting a 23.07% increase compared to the previous year[92]. - Foreign sales revenue was ¥250,869,482.32, down 8.53% year-on-year, accounting for 31.66% of total revenue[91]. Corporate Governance and Compliance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not violated decision-making procedures for providing guarantees[7]. - The report includes a detailed description of potential risks that the company may face in its future development[7]. - The company is committed to ensuring the accuracy and completeness of the financial report, with the board of directors and management taking legal responsibility for any misrepresentation[8]. - The audit report issued by Tianjian Accounting Firm is a standard unqualified opinion[4]. - The company has established a profit distribution policy that prioritizes cash dividends, with provisions for stock dividends under certain conditions[158]. - The company has committed to not transferring or entrusting the management of its shares for 36 months post-IPO, with a lock-up period extending by 6 months if stock prices fall below the issue price for 20 consecutive trading days[164]. - The controlling shareholder has made irrevocable commitments to avoid harming the interests of the company and other shareholders through related party transactions[169]. - The company and its controlled enterprises will not engage in any business that directly or indirectly competes with its main business[169]. - The commitments made by the company have received approval from its governing bodies, ensuring their validity[169]. Market and Industry Trends - The global plastic processing machinery demand is projected to grow at an annual rate of 5.6%, reaching $37.5 billion by 2021[63]. - China's plastic processing industry has transitioned from consumer goods to production materials and high-tech fields, with significant growth in the plastic molding equipment market[64]. - The logistics industry is experiencing rapid growth, with a focus on plastic pallets and turnover boxes, driven by the increase in global trade and e-commerce[70]. - The automotive industry is increasingly using engineering plastics to reduce vehicle weight and costs, with a growing market for plastic components in electric vehicles[71]. - The packaging sector remains the largest application area for plastics, with approximately 30 million tons of disposable packaging materials produced annually[70]. - The plastic molding equipment industry is expected to play a crucial role in the development of high-performance polymer materials and advanced manufacturing technologies[61]. - The Chinese plastic machinery industry is benefiting from the rapid development of downstream applications, particularly in construction and automotive sectors[66]. - The market for injection molding machines, which are the most significant segment of plastic machinery, is dominated by countries like the USA, Japan, and Germany, accounting for 60%-85% of global production[62]. Research and Development - The company focuses on independent R&D while collaborating with academic institutions, fostering innovation and enhancing product development capabilities[55]. - The company is actively involved in the development of energy-saving servo technology, which has gained market acceptance and is expected to evolve towards greater efficiency and stability[135]. - The trend towards precision molding technology is emphasized, requiring precise control over injection pressure and speed, as well as high rigidity and accuracy in locking systems[136]. - The company is exploring the use of induction heating technology based on magnetic eddy current principles, which significantly improves energy efficiency and reduces heat loss[138]. - The company aims to enhance its product lineup by focusing on the development of large, intelligent, fast, precise, and energy-efficient injection molding machines[144]. - The company will invest in R&D to improve core technology and product quality, with a focus on developing over 800 tons large hydraulic direct-lock two-plate injection molding machines and 600 tons direct-drive all-electric injection molding machines[146]. - The company has a strong brand reputation, recognized as a famous trademark and a well-known brand in Zhejiang province, with a broad customer base across various industries[82]. Financial Management and Investments - The company has entrusted cash asset management with a total of 50,903.76 million in structured deposits or financial products from self-owned funds[194]. - The company has also invested 74,804.20 million in structured deposits or financial products from raised funds[194]. - The company has invested a total of ¥3,000.00 million in structured deposits with Hangzhou Bank, yielding an annualized return of 4.55% and a total actual return of ¥33.66 million[196]. - A total of ¥2,503.76 million was invested in structured deposits with CITIC Securities, achieving an annualized return of 6.24% and an actual return of ¥77.05 million[196]. - The company has ongoing structured deposit investments with Hangzhou Bank totaling ¥6,000.00 million, with an annualized return of 4.60%, which is yet to mature[198]. - The company has made multiple investments in structured deposits with Hangzhou Bank, including ¥5,000.00 million at a 4.60% return, resulting in an actual return of ¥57.97 million[196]. - The company raised a total of 8,000.00 million in structured deposits with an interest rate of 5.00%[200]. Shareholder Commitments and Stock Management - The maximum number of shares that can be sold by the company within two years post-lock-up is capped at 20.4 million shares, representing 10% of the total shares post-IPO, with a selling price not lower than the issue price[166]. - The company plans to gradually reduce its shareholding after the lock-up period, with a maximum of 20.4 million shares, not exceeding 10% of the total share capital post-IPO[168]. - Shareholders holding more than 5% of shares, including Haitong Kaiyuan, commit to reducing their holdings by 50%-100% of their total shares after the lock-up period, with a minimum selling price not lower than the IPO price[168]. - The company will publicly announce any share reduction intentions three trading days in advance, ensuring compliance with relevant regulations[168]. - If the company fails to adhere to the lock-up commitments, the proceeds from the share reduction will belong to the company[169]. - The controlling shareholder has made irrevocable commitments to avoid harming the interests of the company and other shareholders through related party transactions[169]. - The company will ensure that any breach of these commitments will result in legal responsibilities for the controlling shareholder[169].