StarPower(SH:603290)2020-04-07 16:00Financial Performance - In 2019, the company's operating revenue reached RMB 779,439,687.65, representing a year-on-year increase of 15.41% compared to RMB 675,367,666.62 in 2018[16]. - The net profit attributable to shareholders was RMB 135,278,512.36 in 2019, which is a 39.83% increase from RMB 96,742,806.82 in 2018[16]. - The basic earnings per share for 2019 was RMB 1.13, up 39.51% from RMB 0.81 in 2018[17]. - The company's total assets increased by 18.85% to RMB 860,487,665.93 at the end of 2019, compared to RMB 724,026,546.70 at the end of 2018[16]. - The net assets attributable to shareholders rose by 28.92% to RMB 559,672,001.67 at the end of 2019, compared to RMB 434,132,494.01 at the end of 2018[16]. - The cash flow from operating activities was RMB 88,326,556.08 in 2019, a decrease of 26.40% from RMB 120,002,975.51 in 2018[16]. - The company reported a total of RMB 15,396,314.33 in non-recurring gains and losses for 2019, compared to RMB 8,044,967.88 in 2018[20]. - The company achieved a global market share of 2.2% in the IGBT module market, ranking 8th globally and 1st among Chinese enterprises in 2018[27]. - The company reported a total revenue of CNY 786,895,473.27 from sales of goods and services, up from CNY 671,912,441.25 in 2018[159]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 2.54 CNY per 10 shares, totaling 40,640,000 CNY based on a total share capital of 160,000,000 shares[4]. - The company reported a cash dividend of 2.54 RMB per 10 shares for the 2019 fiscal year, totaling 40,640,000 RMB, which represents 30.04% of the net profit attributable to ordinary shareholders[71]. - In 2019, the company achieved a net profit of 135,278,512.36 RMB, with a cash dividend payout ratio of 30.04%[72]. Audit and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[3]. - The company has appointed Lixin Certified Public Accountants as its auditing firm[15]. - The audit report confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2019[139]. - The management is responsible for ensuring the financial statements are free from material misstatement due to fraud or error[142]. Risk Factors - The company has detailed risk factors in the board report regarding future development and strategies[6]. - The company faced risks from macroeconomic fluctuations, which could negatively impact sales and profits due to the correlation with the semiconductor industry[67]. - The company is also exposed to risks from the volatility of the electric vehicle market, which could affect profitability due to changes in industry policies and market demand[68]. Research and Development - The company focuses on the design, research, and production of power semiconductor chips and modules, primarily IGBT modules, which are its core products[24]. - The company has a strong R&D team with extensive experience, contributing to its ability to produce IGBT chips and modules at scale[31]. - The company’s R&D expenses amounted to CNY 49.04 million, reflecting a 10.10% increase compared to the previous year[36]. - The company plans to invest in the research and development of next-generation IGBT chips and other semiconductor devices[60]. - The company is committed to increasing R&D investment in chip technology, particularly in the next-generation IGBT chips and fast recovery diode chips[64]. Market Presence and Strategy - The company has established subsidiaries in Shanghai and Europe, along with R&D centers in both regions, enhancing its competitive edge in the semiconductor industry[24]. - The company has established five sales offices in China and a subsidiary in Switzerland to expand its international market presence[26]. - The company plans to increase its market share in the power semiconductor industry, focusing on IGBT modules for both electric and fuel vehicles[61]. - The company aims to enhance its market share in IGBT modules, focusing on industries such as new energy vehicles and variable frequency appliances[60]. - The company will strengthen collaborations with major home appliance manufacturers to expand its presence in the variable frequency white goods market[63]. Financial Position - The total assets at the end of the reporting period were significantly impacted by a 76.21% decrease in investment properties, down to 2,404,022.99 CNY[49]. - The company reported a total equity of 430,424,215.59, with retained earnings of 239,161,659.98[93]. - The total liabilities reached 293,602,331.11, with current liabilities at 193,264,178.62[93]. - The company’s total equity rose to ¥516,668,021.91 in 2019, compared to ¥453,800,845.24 in 2018, reflecting a growth of 13.9%[149]. Management and Governance - The company has a well-structured corporate governance framework, ensuring compliance with relevant laws and regulations[131]. - The board of directors held 4 meetings during the year, all attended in person[135]. - The company has maintained a stable management structure with no reported changes in the number of shares held by key executives[119]. - The company has a diverse management team with various roles, including vice presidents and independent directors, all of whom have not reported changes in their shareholdings[119]. Employee and Workforce - The total number of employees in the parent company and major subsidiaries is 643, with 490 in the parent company and 153 in subsidiaries[126]. - The workforce includes 395 production personnel, 49 sales personnel, 145 technical personnel, 16 financial personnel, and 38 administrative personnel[127]. - The company has established a competitive and fair compensation and benefits system to motivate employees[128]. Accounting Policies and Financial Instruments - The company has implemented changes to accounting policies in accordance with the Ministry of Finance's revised financial statement formats for 2019, which may impact financial reporting[81]. - The company applies the effective interest method for calculating interest on financial assets and liabilities measured at amortized cost, with interest recognized in profit or loss[191]. - The company estimates expected credit losses for financial assets based on whether there has been a significant increase in credit risk since initial recognition[197]. Future Outlook - The company provided guidance for 2020, projecting a revenue growth of 10% to 1.65 billion[120]. - The management team emphasized a focus on sustainability, aiming to reduce carbon emissions by 40% by 2025[120]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share by 2022[120].