SMEIC(SH:900925)2020-04-02 16:00Financial Performance - The company's operating revenue for 2019 was approximately RMB 22.12 billion, an increase of 4.16% compared to RMB 21.23 billion in 2018[20]. - The net profit attributable to shareholders of the listed company decreased by 14.90% to approximately RMB 1.08 billion from RMB 1.27 billion in 2018[20]. - The basic earnings per share for 2019 was RMB 1.06, down 14.52% from RMB 1.24 in 2018[21]. - The total operating income for 2019 was approximately 22.12 billion RMB, representing a 4.16% increase from the previous year[45]. - The company's consolidated revenue for 2019 was RMB 22,116,248,265.36, with elevator equipment sales accounting for RMB 15,324,209,234.53, representing 69.29% of total revenue[147]. - The net profit for 2019 was CNY 1,728,043,671.08, down from CNY 2,135,717,248.49 in 2018, indicating a decrease of about 19.06%[168]. - The total comprehensive income for the year was CNY 1,728,154,962.05, down from CNY 2,136,173,250.27 in 2018, indicating a decrease of approximately 19.06%[168]. Assets and Liabilities - The total assets at the end of 2019 were approximately RMB 34.19 billion, reflecting a 1.56% increase from RMB 33.66 billion at the end of 2018[20]. - The company's total assets amounted to ¥34,187,570,876.52, an increase from ¥33,661,588,218.00 in 2018, reflecting a growth of approximately 1.56%[158]. - The company's total liabilities stood at ¥20,121,974,104.84, a slight decrease from ¥20,156,016,257.80, indicating a reduction of approximately 0.17%[159]. - The company's long-term equity investments rose to ¥2,476,523,003.68 from ¥2,341,778,052.88, marking an increase of approximately 5.77%[159]. Cash Flow - The net cash flow from operating activities for 2019 was approximately RMB 172.96 million, a decrease of 8.22% from RMB 188.45 million in 2018[20]. - Cash flow from operating activities decreased by 8.22% to ¥172,959,003.64, primarily due to increased procurement of raw materials[55]. - Cash inflow from operating activities for the parent company was RMB 69,134,824.82 in 2019, an increase of 94.6% from RMB 35,539,366.33 in 2018[177]. - Net cash flow from financing activities in 2019 was -RMB 1,105,320,580.64, compared to -RMB 1,415,755,882.18 in 2018, indicating an improvement of 22.0%[175]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 3.70 per 10 shares to all shareholders[4]. - The company distributed a total of CNY 1.38 billion in cash dividends over the last three years, aligning with its policy of distributing at least 30% of the average distributable profit[74]. - The company distributed CNY 563,048,793.80 to shareholders, which included CNY 490,914,867.84 as dividends[182]. Market and Competitive Position - The company faced market risks and plans to adopt aggressive sales strategies to maintain and expand market share[6]. - The elevator market in China is expected to maintain stable growth due to increasing demand from old elevator renovations and the installation of elevators in older buildings, despite a slowdown in overall real estate development[38]. - The company is focusing on elevator modernization and service-oriented strategies to adapt to market demands[58]. - The competition in the elevator industry is anticipated to intensify as some brands actively expand capacity, leading to a trend of consolidation among larger enterprises[66]. Research and Development - The company has a strong focus on R&D, with over 70% of sales coming from independently developed products[33]. - R&D expenses increased by 4.82% to ¥730,617,250.31, accounting for 3.30% of total revenue[53]. - The company developed a new energy-saving mid-speed elevator with independent intellectual property rights, breaking foreign technology monopolies[30]. Environmental Compliance - The company reported a wastewater discharge of 12,229.4 tons, with an average concentration of chemical oxygen demand at 22.1 mg/L, well below the regulatory limit[93]. - The company has established wastewater treatment systems and regularly maintains them to ensure compliance with environmental standards[95]. - The company has implemented an environmental self-monitoring plan to track pollutant emissions and ensure compliance with standards[97]. Corporate Governance - The company has established a comprehensive internal control system to ensure effective governance and compliance with regulations[130]. - The company has a total of 4 independent directors and has established specialized committees to enhance corporate governance[131]. - The management team is directly accountable to the board of directors, which conducts performance evaluations and determines compensation based on operational management outcomes[138]. Employee and Management Structure - The total number of employees in the parent company is 26, while the main subsidiaries employ 2,459, resulting in a total of 2,485 employees[124]. - The company follows a compensation policy based on fairness, competitiveness, and performance orientation to attract and retain talent[125]. - The current management team includes individuals with extensive experience in various sectors, including finance, engineering, and management[117][118].