KAMA(SH:900953)2019-04-12 16:00Financial Performance - In 2018, the company's operating revenue was CNY 3,672,699,050.09, a decrease of 24.87% compared to CNY 4,888,684,476.53 in 2017[20] - The net profit attributable to shareholders was a loss of CNY 117,661,824.26, a decline of 518.82% from a profit of CNY 28,093,967.09 in the previous year[20] - The total profit for the year was -20.62 million RMB, a decline of 513.92% compared to the previous year[31] - The company reported a net profit of -561,959,775.53 RMB for the year, leading to no cash dividend distribution or capital reserve transfer for 2018[78] - The company reported a net loss of CNY 434,335,274.96 in retained earnings, compared to a loss of CNY 316,673,450.70 at the beginning of the year[159] - The comprehensive income for the current period is CNY -263,864,310.61, indicating a significant loss compared to the previous period's income[178] Cash Flow and Liquidity - The net cash flow from operating activities increased by 105.51% to CNY 89,536,528.86, compared to CNY 43,568,728.71 in 2017[20] - The total cash and cash equivalents at the end of the period decreased to 219,891,944.16 RMB from 462,083,975.71 RMB, indicating a significant reduction in liquidity[172] - The cash flow from operating activities showed a net outflow of 38,176,275.64 RMB, compared to an outflow of 65,986,902.89 RMB in the previous year, suggesting improved cash management[175] Assets and Liabilities - The total assets at the end of 2018 were CNY 4,863,223,503.12, down 4.24% from CNY 5,078,789,657.16 in 2017[20] - Total liabilities increased from CNY 3,731,557,769.65 to CNY 3,800,387,530.97, an increase of about 1.85%[159] - Shareholders' equity decreased from CNY 1,347,231,887.51 to CNY 1,062,835,972.15, a decline of approximately 21.16%[160] Research and Development - The company’s R&D expenses rose by 27.54% to 17.18 million RMB, reflecting increased investment in new truck and engine products[39] - The company reported a total R&D investment of ¥59.22 million, accounting for 1.61% of total revenue[48] - R&D investment reached 59.22 million yuan, a year-on-year increase of 31.74%, primarily for the development and upgrade of cargo vehicles and internal combustion engine products[49] Market Performance - In 2018, the company sold 48,000 trucks, a decrease of 8.45% compared to 2017, and sold 207,900 internal combustion engines, down 9.51% year-on-year[31] - The company focused on niche markets, achieving significant sales growth in specialized vehicles, with sales of engineering vehicles increasing by 199.6%[32] - The sales volume of cargo vehicles decreased by 8.45%, with a total sales volume of 48,024 units[43] Risk Management - The company has acknowledged the presence of various risk factors in its operations, which are detailed in the report[7] - The company faces risks related to market conditions, policy changes, and talent acquisition as it accelerates its transformation and upgrade efforts[75] - The company will focus on improving operational quality and risk management to enhance sustainable profitability[72] Shareholder Information - The total number of common stock shareholders at the end of the reporting period is 27,345, an increase from 27,045 at the end of the previous month[107] - The largest shareholder, China Hengtian Group Co., Ltd., holds 190,926,520 shares, representing 29.83% of total shares[109] - The company has a diverse shareholder base, including both domestic and foreign entities, with various investment funds holding shares[110] Corporate Governance - The company has engaged DaXin Accounting Firm for auditing services, with a fee of 1 million yuan for the audit[87] - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with relevant laws and regulations[136] - The company has implemented a comprehensive evaluation mechanism for senior management, determining annual compensation based on performance assessments[141] Social Responsibility - The company actively participated in targeted poverty alleviation efforts, benefiting 33 households and 136 individuals in a specific village[96] - A total of 12,000,000 RMB was invested in industry development poverty alleviation projects[99] - The company is committed to fulfilling social responsibilities while balancing economic and social benefits[101]