J.S. Machine(000821)2019-06-06 16:00Financial Performance - The company's operating revenue for 2018 was ¥2,248,884,206.10, an increase of 46.36% compared to ¥1,536,524,895.37 in 2017[24]. - The net profit attributable to shareholders for 2018 was ¥143,901,555.62, a decrease of 6.08% from ¥153,224,480.30 in 2017[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥31,882,248.52, a decline of 123.95% compared to ¥133,137,955.14 in 2017[24]. - The net cash flow from operating activities for 2018 was ¥140,554,081.42, representing an increase of 108.29% from ¥67,480,203.68 in 2017[24]. - The total assets at the end of 2018 were ¥5,216,123,885.93, up 72.02% from ¥3,032,300,912.27 at the end of 2017[24]. - The net assets attributable to shareholders at the end of 2018 were ¥2,821,661,357.37, an increase of 50.03% from ¥1,880,775,694.35 at the end of 2017[24]. - The company reported a basic earnings per share of ¥0.27 for 2018, down 15.63% from ¥0.32 in 2017[24]. - The total profit amounted to 183 million CNY, with a slight increase of 4 million CNY, reflecting a growth of 0.02% year-on-year[73]. Investment and Acquisitions - The company has accumulated substantial goodwill due to major asset restructuring and acquisitions, which poses a risk of impairment if future economic conditions do not meet expectations[6]. - The company's long-term equity investments decreased by 24.09% due to the acquisition of Shenzhen Huida Cheng, changing its shareholding from 31.6% to 51%[54]. - The company acquired 100% equity of Suzhou Shengcheng for ¥808,000,000.00 and 51% of Shenzhen Huidacheng for ¥217,411,827.41 during the reporting period[103]. - The company completed the acquisition of Suzhou Shengguang Photovoltaic Equipment Co., Ltd. for ¥808,000, achieving a 100% ownership stake[137]. - The investment in Shenzhen Huida Cheng Industrial Intelligent Measurement Instruments Co., Ltd. amounted to ¥146,727,500, resulting in a 51% ownership stake[137]. Research and Development - The company has increased its R&D personnel by 70.09% from 331 to 563, indicating a strong commitment to innovation[2]. - R&D personnel accounted for 19.70% of total employees, with R&D investment amounting to ¥105,226,797.09, an increase of 81.76% year-over-year[126]. - The company is focusing on continuous investment and acquisitions in the fields of artificial intelligence and industrial automation to enhance its ecosystem[45]. - The company is developing an automated visual inspection system for solar panels, aiming to capture a significant share of the domestic photovoltaic inspection market[3]. - The company is working on a high-precision automatic adhesive tape machine with a yield rate of 98%, which can save labor costs on production lines[3]. Market and Competition - The company is facing increased market competition due to rising demand and industry upgrades, leading to price reductions in products[6]. - The company aims to become a leader in China's intelligent equipment manufacturing by leveraging technological innovation and organizational innovation[45]. - The company has expanded its global marketing and service network, with a presence in over 60 countries and regions, including the establishment of its first overseas entity in India[40]. - The company is focusing on expanding its market presence in the 3C industry by leveraging its geographical advantages and technological expertise[1]. Financial Management and Strategy - The company plans not to distribute cash dividends or issue bonus shares, focusing on reinvestment strategies[7]. - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, distinguishing them from commitments[5]. - The company is committed to addressing management and integration challenges arising from increased investments and acquisitions[6]. - The company has implemented a centralized management approach to improve coordination across technology, procurement, and finance[185]. - The company is addressing foreign exchange risk by managing foreign currency income and engaging in financial derivative transactions[182]. Operational Efficiency - The company achieved a significant reduction in operational costs and improved management efficiency through the integration of subsidiaries and collaborative projects[80]. - The company has established a complete procurement and supplier management system, ensuring production is based on customer-provided annual and monthly purchasing plans[44]. - The company reduced procurement costs by over ¥8 million through centralized purchasing and strategic partnerships with suppliers like Huichuan Technology and Estun[81]. - The company has implemented a partner management system to align core personnel interests with company benefits through equity incentives[181]. Future Plans - The company plans to establish a research and development center in Europe to attract technical talent and enhance its overall technology development level[50]. - The company is focusing on developing new technologies and products to enhance operational efficiency and reduce reliance on government subsidies[187]. - The company aims to replace existing production management systems with its new products in the coming years, indicating a strategic market expansion[113]. - The company plans to continue increasing R&D investment, particularly in artificial intelligence and automation technologies, to enhance product efficiency and expand production capacity[79].