ST深天(000023) - 2018 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2018 was CNY 1,611,326,480.81, representing a 31.09% increase compared to CNY 1,229,187,086.91 in 2017[15]. - The net profit attributable to shareholders for 2018 was CNY 26,320,484.31, a decrease of 13.71% from CNY 30,500,775.53 in 2017[15]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 24,303,373.72, which is a significant increase of 116.47% compared to CNY 11,227,079.90 in 2017[15]. - The net cash flow from operating activities decreased by 51.55% to CNY 120,623,195.11 from CNY 248,978,259.65 in 2017[15]. - The basic earnings per share for 2018 was CNY 0.1897, down 13.69% from CNY 0.2198 in 2017[15]. - Total assets at the end of 2018 were CNY 2,320,492,790.97, an increase of 18.90% from CNY 1,951,619,399.48 at the end of 2017[15]. - The net assets attributable to shareholders at the end of 2018 were CNY 431,606,392.51, reflecting a 4.69% increase from CNY 412,257,394.30 at the end of 2017[15]. - The weighted average return on equity for 2018 was 6.24%, down from 7.63% in 2017[15]. Cash Dividend and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.60 per 10 shares to all shareholders, based on a total of 138,756,240 shares[4]. - The proposed cash dividend for 2018 is 0.60 CNY per 10 shares, totaling 8,325,374.40 CNY, based on a total share capital of 138,756,240 shares[110]. - The cash dividend payout ratio for 2018 was 31.63% of the net profit attributable to shareholders[113]. - The total cash dividends distributed over the last three years were 20,813,434.00 yuan, reflecting a consistent dividend policy[113]. - The company did not allocate any statutory reserve for the year 2018 and will not issue bonus shares or convert capital reserves into share capital[110]. Operational Efficiency and Market Trends - The company is actively expanding its real estate projects, with ongoing developments in Lianyungang and Xi'an contributing to stable cash flow[26]. - The company is focusing on cash flow and accelerating project development in response to market trends, particularly in third and fourth-tier cities[84]. - The company plans to produce and sell 3.3 million cubic meters of concrete in 2019, aiming for a sales revenue of 1.476 billion yuan[87]. - The company aims to enhance its market share in the concrete industry by establishing new mixing stations and pursuing acquisitions in the Guangdong-Hong Kong-Macao Greater Bay Area[83]. Risk Management and Compliance - The company has outlined potential risk factors and corresponding strategies in its annual report, emphasizing the importance of investor awareness regarding investment risks[4]. - The company faces risks including policy changes in the real estate market, financing difficulties, and construction-related risks, and is implementing strategies to mitigate these risks[95]. - The company ensures that related party transactions are conducted at fair market prices, adhering to legal and regulatory requirements for disclosure[118]. - The company has committed to maintaining asset, personnel, financial, and operational independence from its controlling shareholders[118]. Investor Relations and Communication - The company received a total of 69 inquiries from individual investors during the reporting period[99]. - The company conducted multiple telephone communications with investors, totaling 20 instances in 2018[99]. - The company disclosed 88 announcements related to significant matters during the reporting period, including regular and temporary reports[100]. - The company maintained transparency by publishing all major announcements on designated platforms such as the Securities Times and the China Securities Journal[100]. Corporate Governance and Management - The company has established a comprehensive corporate governance structure and strictly adheres to information disclosure obligations, ensuring transparency for all shareholders[153]. - The company has a strong emphasis on compliance and governance, with independent directors and a dedicated audit department[195][196]. - The total remuneration for the board of directors, supervisors, and senior management during the reporting period amounted to 4.12 million yuan[200]. - The company has a structured approach to financial management, with experienced professionals overseeing its financial operations[191][195]. Market Position and Competitive Advantage - The company maintains a competitive advantage in the concrete industry with a well-established management team and advanced production capabilities[28]. - The company has strengthened its brand influence in the concrete market through continuous technological investments and quality improvements[25]. - The company is focusing on technological development and capital investment to enhance the value-added services in the concrete industry[80]. Financial Audits and Accounting Practices - The company’s financial performance is audited by Dahua Certified Public Accountants[110]. - The company has maintained the same accounting firm, Da Hua Accounting Firm, for 9 consecutive years, with an audit fee of RMB 450,000[127]. - There were no major accounting errors requiring retrospective restatement during the reporting period[125].