HISENSE H.A.(SZ:000921)2019-03-28 16:00Financial Performance - The company's operating revenue for 2018 was CNY 36,019,598,304.79, representing a 7.56% increase compared to CNY 33,487,590,387.45 in 2017[11]. - The net profit attributable to shareholders of the listed company decreased by 31.75% to CNY 1,377,457,177.70 from CNY 1,997,530,073.54 in the previous year[11]. - The basic earnings per share for 2018 was CNY 1.01, down 31.76% from CNY 1.47 in 2017[12]. - The company reported a return on equity of 19.79% for 2018, down from 35.12% in 2017, indicating a decline in profitability[12]. - The company achieved a revenue of 36.02 billion yuan, representing a year-on-year growth of 7.56%[34]. - The net profit attributable to shareholders was 1.38 billion yuan, with a 12.36% increase in net profit after deducting non-recurring gains and losses[27]. - The total profit for 2018 was CNY 776,515,067.46, down from CNY 1,487,084,083.74 in 2017, reflecting a decline of 47.8%[159]. - The comprehensive income for the year amounted to CNY 1,426,693,341.15, which includes a net profit of CNY 1,377,457,177.70[166]. Assets and Liabilities - The total assets at the end of 2018 were CNY 21,827,905,038.40, an increase of 1.02% from CNY 21,473,666,822.72 at the end of 2017[12]. - The total liabilities decreased to CNY 13,938,498,061.67 in 2018 from CNY 14,520,296,800.80 in 2017, reflecting a decrease of about 4.00%[151]. - The equity attributable to the owners of the parent company increased to RMB 7,351,824,364.87 in 2018 from RMB 6,579,089,237.49 in 2017, showing a growth of approximately 11.69%[151]. - The company's total liabilities to total assets ratio improved to approximately 63.88% in 2018 from 67.14% in 2017, indicating a stronger financial position[151]. Cash Flow - The cash flow generated from operating activities was CNY 1,049,366,564.25, a significant increase of 130.61% compared to CNY 455,048,576.31 in 2017[12]. - The total cash inflow from operating activities was approximately CNY 28.16 billion, an increase from CNY 25.87 billion in 2017, representing a growth of about 8.3%[160]. - The net cash flow from operating activities for 2018 was CNY 1.05 billion, significantly higher than CNY 455 million in 2017, indicating a year-over-year increase of approximately 130%[160]. - The cash inflow from investment activities totaled CNY 2.88 billion in 2018, a decrease from CNY 5.07 billion in 2017, reflecting a decline of about 43%[161]. Market Performance - The company's refrigerator market share was 17.92%, ranking second in the industry, while the home air conditioner market share was 8.72%, ranking fourth[20]. - The multi-split central air conditioning product market share was 22.3%, just 0.2 percentage points behind the market leader[20]. - In 2018, the domestic refrigerator industry saw a retail volume decline of 6.2%, while retail value only grew by 0.7%[26]. - The home air conditioner market experienced a retail volume growth of 2.3% and a retail value growth of 4.9% in 2018[26]. Research and Development - The company's research and development investment reached ¥1,007,917,568.01 in 2018, an increase of 38.72% compared to 2017, representing 2.80% of total revenue[43]. - The company emphasizes technological innovation and has established a national-level enterprise technology center and a leading R&D team[23]. - The number of R&D personnel increased to 1,309, representing 3.98% of the total workforce, an increase of 0.51 percentage points from the previous year[43]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 3.03 per 10 shares, based on a total of 1,362,725,370 shares[3]. - The cash dividend for 2018 represents 30% of the net profit attributable to shareholders, which was 1,377,457,177.70 CNY[61]. - The company has maintained a consistent cash dividend distribution policy over the past three years, with 30% in 2018, 30% in 2017, and 37% in 2016[62]. Corporate Governance - The company has conducted 13 investor meetings with 41 institutions during the reporting period[57]. - The company has maintained an independent governance structure, ensuring separation from the controlling shareholder in business, personnel, assets, institutions, and finance[123]. - Independent directors attended a total of 39 board meetings, with 16 in-person and 23 via communication methods[126]. Environmental Responsibility - The company actively participates in social responsibility initiatives, including educational support and poverty alleviation efforts[88]. - The company has established wastewater treatment facilities that meet the Class B standards of the "Discharge Standard for Wastewater into Urban Sewers" (CJ343-2010) after treatment[90]. - The total amount of industrial wastewater COD discharged by Hisense (Shandong) Refrigerator is 2.08 tons, with a concentration of 40.0 mg/l, well below the standard of 500 mg/l[89]. Future Outlook - The company forecasts a 4.4% decline in the refrigerator industry and a 14.3% decline in the online air conditioning market for 2019, indicating increased operational pressure[55]. - The company plans to deepen its high-quality product strategy, focusing on process control and lifecycle management[55]. - The company has set a performance guidance of 12% revenue growth for 2019, aiming for a total revenue of approximately 11.76 billion RMB[112].