J.S. Machine(000821)2022-01-28 16:00Financial Performance - The company's operating revenue for 2018 was ¥2,190,691,988.42, an increase of 42.57% compared to ¥1,536,524,895.37 in 2017[23]. - The net profit attributable to shareholders for 2018 was ¥124,207,310.41, a decrease of 7.70% from ¥134,567,024.23 in 2017[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥51,576,493.73, a decline of 145.05% compared to ¥114,480,499.07 in 2017[23]. - The net cash flow from operating activities for 2018 was ¥140,554,081.42, an increase of 108.29% from ¥67,480,203.68 in 2017[23]. - The total assets at the end of 2018 were ¥5,123,693,814.23, representing a growth of 70.38% from ¥3,007,180,220.18 at the end of 2017[23]. - The net assets attributable to shareholders at the end of 2018 were ¥2,776,846,420.07, an increase of 49.64% from ¥1,855,655,002.26 at the end of 2017[23]. - The company reported a basic earnings per share of ¥0.24 for 2018, down 14.29% from ¥0.28 in 2017[23]. - The total profit for 2018 was 183 million yuan, a slight increase of 4 million yuan, or 0.02% year-on-year[70]. - The net profit attributable to the parent company was 143 million yuan, a decrease of 10 million yuan, or 6.08% year-on-year[70]. Revenue and Sales - The company reported a significant increase in international sales revenue, contributing to a steady growth in foreign exchange income[4]. - The company has expanded its global marketing and service network, with a presence in over 60 countries and regions[38]. - The specialized equipment manufacturing sector contributed ¥1.40 billion, accounting for 64.12% of total revenue, with a year-over-year increase of 7.26%[87]. - The automation production line segment saw a revenue increase to ¥798.73 million, which is 36.46% of total revenue, reflecting an 18.04% growth compared to the previous year[87]. - Domestic revenue from the packaging automation production line reached ¥471,103,827.64, with a year-on-year growth of 13.14%[90]. - The revenue from domestic automation products was ¥714,811,770.36, showing a significant increase of 159.04% year-on-year[90]. - The overseas revenue from automation production lines was ¥273,548,061.40, reflecting a growth of 50.84% compared to the previous year[93]. - The company experienced a 308.85% increase in revenue from goods trading, amounting to ¥295,500,169.03[90]. Acquisitions and Goodwill - 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[5]. - The company completed the acquisition of Suzhou Shengcheng and gained control over Shenzhen Huidacheng, marking a significant step in building its ecosystem[78]. - The company’s goodwill increased by 134.01%, reflecting the difference between the purchase price and the fair value of identifiable net assets during the acquisition of Suzhou Shengcheng and Shenzhen Huidacheng[51]. - Suzhou Shengcheng Photovoltaic Equipment Co., Ltd. was acquired, increasing the company's net profit by CNY 70.09 million[157]. - Shenzhen Huidacheng Intelligent Technology Co., Ltd. was also acquired, contributing an additional CNY 27.02 million to net profit[157]. Research and Development - The company has 120 valid invention patents, 315 utility model patents, and 92 software copyrights as of the end of the reporting period[62]. - The company plans to continue increasing R&D investment, particularly in artificial intelligence and automation technologies, to enhance product efficiency and expand production capacity[77]. - R&D investment amounted to ¥105,226,797.09, representing an 81.76% increase compared to ¥57,894,385.36 in the previous year[122]. - R&D investment as a percentage of operating revenue rose to 4.8%, up from 3.77%[122]. - The company has increased its R&D personnel by 70.09% from 331 to 563, indicating a strong commitment to innovation[118]. Operational Strategy - The company plans to establish a smart equipment manufacturing ecosystem, adopting a "large platform + small team" operational model to enhance market responsiveness[5]. - The company is focusing on high-end intelligent equipment across multiple sectors, including packaging, new energy, and food, positioning itself at the forefront of the industry[47]. - The company aims to become a leader in China's intelligent equipment manufacturing by continuously investing in technology innovation and mergers and acquisitions[43]. - The company is actively pursuing global expansion to mitigate risks associated with domestic policy changes affecting its customer base[180]. - The company is implementing a partner management system to align core personnel interests with company benefits through equity incentives[175]. Financial Management - The company does not plan to distribute cash dividends or issue bonus shares for the reporting period[6]. - The company has not proposed any cash dividend distribution for 2018, indicating a strategic focus on reinvestment rather than immediate shareholder returns[192]. - The company has not signed any significant sales contracts that are applicable for disclosure as of the reporting period[94]. - The company has established a strict internal evaluation and regulatory mechanism for its derivative business, ensuring compliance with relevant laws and regulations[146]. - The company has not reported any litigation related to its investments[135]. Market and Competition - The competitive landscape in the intelligent equipment manufacturing industry is intensifying, driven by policy support and rising market demand[5]. - The company is facing increased market competition due to industry upgrades and rising demand, prompting a strategy to diversify product offerings and reduce costs through improved procurement practices[180]. - The company is exposed to policy changes that could significantly impact sales, particularly in sectors reliant on government subsidies[5]. - The company faces foreign exchange risk due to increased international investments and sales, and plans to implement measures to mitigate this risk[176]. Internal Management - The company emphasizes the importance of management integration as it expands through investments and acquisitions, which presents new challenges[5]. - The company established a CEO management committee to enhance management efficiency and attract talent through a core incentive model[179]. - The company implemented a partner system in 2018, enhancing management efficiency and quality through the establishment of a CEO management committee[72]. Investment Activities - The total investment amount for the reporting period reached ¥978,508,500, a significant increase of 580.20% compared to ¥143,855,152 in the same period last year[135]. - The company engaged in derivative investments, including a total investment of €7,820,000 in foreign exchange forward contracts, resulting in a profit of ¥276.9[139]. - The company has no significant non-equity investments during the reporting period[138]. - The company has not sold any significant assets during the reporting period[156].