ANKAI(SZ:000868)2019-04-15 16:00Financial Performance - The company's operating revenue for 2018 was ¥3,146,799,184.83, a decrease of 42.25% compared to ¥5,448,916,378.34 in 2017[21]. - The net profit attributable to shareholders was -¥893,339,285.51, representing a decline of 288.15% from -¥230,152,697.18 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was -¥928,646,638.89, a decrease of 214.04% compared to -¥295,708,352.43 in 2017[21]. - The net cash flow from operating activities was -¥345,317,349.45, a significant decline from ¥249,401,357.61 in 2017, marking a 238.46% decrease[21]. - The company's total revenue for 2018 was 3.147 billion yuan, down 42.25% compared to the previous year[38]. - The net profit attributable to shareholders for the fourth quarter was -635.26 million yuan, with a total net profit of -81.98 million yuan in the first quarter[26]. - The company's total assets at the end of 2018 were approximately 7.13 billion yuan, a decrease of 10.62% from the previous year[28]. - The net assets attributable to shareholders decreased by 64.57% to approximately 386.79 million yuan at the end of 2018[28]. - The company reported a weighted average return on equity of -120.86% for 2018[28]. Business Operations - The company has not changed its main business since its listing, and there have been no changes in controlling shareholders[20]. - The company completed the development of 15 new products and over 240 adaptive developments in 2018[41]. - The company established 23 new energy service stations and 13 remote service stations during the year[40]. - The company exported 1,209 units, ranking 6th in the industry for export sales[39]. - The company initiated the development of 13 models compliant with the National VI emission standards[41]. - The company completed the development of 37 new standard pure electric buses, effectively meeting diverse market demands[42]. - The company’s internal sales accounted for 83.39% of total revenue, while exports contributed 16.61%[54]. - The company signed significant sales contracts totaling approximately $6,395.4 million with HAFIL TRANSPORT COMPANY for bus deliveries[58]. Research and Development - Research and development expenses amounted to ¥124,857,560.15, a decrease of 11.68% compared to the previous year, while the R&D expenditure accounted for 3.97% of operating revenue[69]. - A total of 299 patents were granted in 2018, including 83 invention patents[43]. - The company achieved a 20% year-on-year reduction in non-BOM material costs per unit[47]. Risk Management - The board of directors acknowledged the significant uncertainty regarding the company's ability to continue as a going concern, urging investors to be aware of investment risks[6]. - The company is focusing on addressing the risks outlined in the future development outlook section of the annual report[9]. - The company established a risk control system for accounts receivable, effectively curbing overdue accounts[47]. Corporate Governance - The company has not distributed any cash dividends or increased capital stock from capital reserves in the past three years, including the current reporting period[110]. - The proposed profit distribution plan for 2018 is to not distribute dividends and not to increase capital stock from capital reserves, pending shareholder approval[111]. - The company has not made any non-operating fund occupation by controlling shareholders or related parties during the reporting period[117]. - The company has engaged in significant equity investments, although specific details were not disclosed in the report[79]. - The company has established significant related transactions with major shareholders, ensuring transparency and compliance with regulations[138]. Environmental Compliance - The company has undergone environmental management system certification and clean production audits, ensuring compliance with environmental standards[173]. - The company has completed the required environmental remediation after being fined 242,000 yuan by the Environmental Protection Bureau for non-compliance in bus manufacturing[133]. - The company has implemented various pollution control facilities, including active carbon filtration for exhaust gases and centralized dust removal for welding fumes[168]. - The company has conducted regular third-party monitoring of wastewater, waste gas, and noise emissions, with no instances of exceeding discharge standards reported[171]. Future Outlook - The company plans to expand its market presence through new product development and strategic partnerships in the electric vehicle sector[82]. - Future guidance suggests a projected revenue growth of 20% for the upcoming fiscal year, driven by increased demand for electric vehicles[82]. - The company is investing in new technologies to improve vehicle efficiency and reduce emissions, aligning with industry trends towards sustainability[82]. - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the automotive market[82]. Shareholder Information - The total number of shareholders at the end of the reporting period was 82,635, with 78,510 being ordinary shareholders[188]. - Anhui Investment Group Co., Ltd. holds a 16.58% stake in the company, having decreased its holdings by 7,300,000 shares during the reporting period[188]. - The controlling shareholder, Anhui Jianghuai Automobile Group Co., Ltd., subscribed to all newly issued shares, increasing its stake to 25.20%[179][188]. - The company has not reported any changes in the shareholding of its board members during the reporting period[199]. Management and Leadership - The company has maintained a stable management team with no significant changes reported in the executive positions[200]. - The current chairman, Dai Maofang, has a professional background in engineering and has held various leadership positions within the automotive industry[200]. - The average age of the current board members is approximately 53 years, reflecting a mix of experience and youth[200]. - The term for the current board members and supervisors is set to end in October 2019, indicating potential upcoming changes in leadership[200].