Taihe Intelligent(SH:603656)2020-04-17 16:00Financial Performance - In 2019, the company's operating revenue was CNY 385,162,337.75, a decrease of 5.45% compared to 2018[22]. - The net profit attributable to shareholders was CNY 62,418,271.81, down 22.69% from the previous year[22]. - The net profit after deducting non-recurring gains and losses decreased by 44.05% to CNY 31,128,950.48[22]. - Basic earnings per share decreased by 22.22% to CNY 0.42 in 2019[23]. - The weighted average return on equity fell by 2.59 percentage points to 6.90%[23]. - The company reported a cash flow from operating activities net amount of CNY 42,306,866.54, a decrease of 12.91% from 2018[22]. - The revenue from the specialized equipment manufacturing industry was CNY 378,545,233.95, a decrease of 5.51% compared to the previous year, with a gross margin increase of 1.38 percentage points to 54.13%[60]. - The sales volume of intelligent detection sorting equipment decreased by 15.54% year-on-year, while the sales volume of industrial robots increased by 38.46% due to enhanced promotion efforts[61]. Dividend Policy - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares, totaling RMB 14,888,160 (including tax) based on a total share capital of 14,888.16 million shares as of December 31, 2019, resulting in a cash dividend payout ratio of 23.85%[5]. - The company has established a cash dividend policy, ensuring that at least 20% of distributable profits are paid out as cash dividends in profitable years[96]. - In 2019, the company proposed a cash dividend of 1.00 CNY per 10 shares, totaling 14,888,160.00 CNY, with a net profit of 62,418,271.81 CNY, representing 23.85% of the net profit attributable to ordinary shareholders[99]. - For 2018, the cash dividend was set at 1.10 CNY per 10 shares, amounting to 16,376,976.00 CNY, with a net profit of 80,733,102.48 CNY, which is 20.29% of the net profit attributable to ordinary shareholders[99]. - In 2017, the company distributed a cash dividend of 2.50 CNY per 10 shares, totaling 26,586,000.00 CNY, with a net profit of 87,459,229.74 CNY, accounting for 30.40% of the net profit attributable to ordinary shareholders[99]. Research and Development - The company has increased its R&D investment, which has impacted short-term profitability due to initial costs[22]. - The total R&D expenditure was CNY 50,192,239.22, accounting for 13.03% of total revenue, with a year-on-year increase of 31.63%[68][69]. - The company has been recognized as a national high-tech enterprise and has established a provincial-level postdoctoral research station, indicating strong R&D capabilities[42]. - The company aims to develop a comprehensive manufacturing capability for intelligent logistics equipment, integrating sorting, packaging, handling, and warehousing[30]. - The company is focusing on expanding its industrial robot business, having completed several benchmark projects in various industries[51]. Market and Product Development - The company is focused on expanding its market presence and enhancing its product offerings in the optoelectronic technology sector[10]. - The company is focusing on expanding its product applications in the fields of fruits, vegetables, and mineral products[31]. - The company launched the "Tianyan" series color sorting machine, which quickly gained market recognition due to its advanced features[50]. - The company has achieved high product quality through strict production and inspection processes, leading to customer satisfaction and market recognition[45]. - The brand "TAIHO" was recognized as a famous trademark in 2018, enhancing the company's market competitiveness and brand awareness[46]. Corporate Governance - The company has received a standard unqualified audit opinion from Rongcheng Accounting Firm[4]. - The company has a commitment to maintaining the accuracy and completeness of its financial reports, as stated by its board and management[8]. - The company confirmed that there were no significant deficiencies in internal controls during the reporting period[178]. - The audit report indicated that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2019[182]. - The company has established a mechanism for assessing and incentivizing senior management based on performance evaluations[177]. Financial Investments - The company has invested a total of 10,600 million RMB in a net value financial product, with 1,600 million RMB already redeemed by December 31, 2019, leaving a remaining principal of 9,000 million RMB[129]. - The company has ongoing investments in various banks, including 14,000 million RMB at a 4.00% return rate, which is still outstanding[128]. - The company has a strategy of diversifying its investments across multiple banks to mitigate risks and enhance returns[129]. - The financial products include both principal-protected and non-principal-protected types, with a focus on ensuring capital safety while achieving reasonable returns[129]. - The company continues to explore new financial products and investment opportunities to optimize its asset allocation and enhance overall financial performance[129]. Social Responsibility - The company donated a total of RMB 200,000 through the "Benevolence Feixi - Taihe Optoelectronics Poverty Alleviation Fund" for assisting impoverished students and another RMB 200,000 through the "Taihe Optoelectronics Charity Fund" for poverty alleviation initiatives[132]. - The company received the title of "Caring Enterprise" from the Feixi County Committee and the Feixi County People's Government in September 2019[134]. - The company plans to continue increasing support for educational, medical, and poverty alleviation projects through its charity funds[135]. Employee and Management Structure - The company has a total of 1,120 employees, with 940 in the parent company and 180 in major subsidiaries[169]. - The professional composition includes 332 production personnel, 211 sales personnel, 417 technical personnel, 13 financial personnel, and 147 administrative personnel[169]. - The company has established a comprehensive training program focusing on both internal and external training to enhance employee skills and knowledge[171]. - The company adheres to a salary policy based on long-term development strategies, including basic salary, performance bonuses, and year-end bonuses[170]. - The management team includes experienced professionals with backgrounds in various sectors, enhancing the company's operational capabilities[160].