伟星股份(002003) - 2019 Q4 - 年度财报

Financial Performance - The total revenue for 2019 was approximately CNY 2,732.48 million, representing a 0.77% increase compared to CNY 2,711.57 million in 2018[19] - The net profit attributable to shareholders decreased by 6.33% to CNY 290.64 million from CNY 310.29 million in 2018[19] - The net profit after deducting non-recurring gains and losses was CNY 281.12 million, down 7.94% from CNY 305.37 million in the previous year[21] - The basic earnings per share for 2019 was CNY 0.39, a decrease of 4.88% compared to CNY 0.41 in 2018[21] - The total profit for the year was 344 million yuan, a decrease of 13.74% compared to the previous year[54] - The net profit attributable to shareholders was 291 million yuan, down 6.33% year-on-year[54] - The total distributable profit for 2019 is reported at 463,885,712.65 CNY, with the cash dividend accounting for 100% of the profit distribution[143] Assets and Liabilities - The total assets at the end of 2019 were CNY 3,474.74 million, reflecting a 9.52% increase from CNY 3,172.77 million at the end of 2018[21] - The net assets attributable to shareholders increased by 2.22% to CNY 2,419.16 million from CNY 2,366.52 million in 2018[21] - The company reported a total of 651,309,041.28 CNY in accounts receivable and 292,195,432.50 CNY in accounts payable as of the reporting period[153] - The company's short-term borrowings amounted to ¥150,000,000.00, with a reclassification resulting in a new value of ¥150,202,697.91[159] Cash Flow - The net cash flow from operating activities rose by 22.14% to CNY 527.55 million compared to CNY 431.94 million in 2018[21] - The net cash flow from operating activities was ¥527,553,563.86, reflecting a 22.14% increase compared to the previous year[96] - Cash and cash equivalents decreased by 1.03% to ¥358,629,818.30, accounting for 10.32% of total assets[101] - The net increase in cash and cash equivalents was -¥1,548,124.86, a significant improvement of 98.59% compared to the previous year[96] Revenue Breakdown - The textile and apparel segment generated ¥2,722,013,738.93, accounting for 99.62% of total revenue, with a year-on-year growth of 4.83%[70] - The company's satellite navigation revenue decreased by 90.90% to ¥10,470,664.57, down from ¥115,061,198.07 in 2018[70] - Domestic revenue was ¥2,038,111,083.66, which is 74.59% of total revenue, showing a decline of 4.46% from the previous year[70] - International revenue increased by 20.09% to ¥694,373,319.84, representing 25.41% of total revenue[70] Investments and Acquisitions - The company successfully acquired Weifang Zhongchuan Zipper Accessories Co., enhancing its competitive advantage in zipper products[58] - The company established two new subsidiaries in Italy and Singapore and acquired 79% of Weifang Zhongchuan for ¥141 million during the reporting period[81] - The total investment amount for the reporting period was ¥292.8 million, representing a 90.63% increase compared to ¥153.6 million in the same period last year[108] Research and Development - The company holds 523 domestic patents and 6 overseas patents, with 331 domestic patents and 6 overseas patents pending[60] - Research and development expenses increased by 15.32% to ¥130,307,287.76, accounting for 4.77% of operating revenue[92] - The number of R&D personnel increased by 2.54% to 727, while the proportion of R&D personnel decreased to 8.32%[93] - The company introduced new talent and increased investment in "Beidou Navigation" R&D, focusing on core technologies and products[66] Market and Industry Position - The company is a leading player in the garment accessory industry and has been involved in drafting 11 national and industry standards[43] - The company aims to become an internationally recognized professional supplier of apparel accessories, focusing on sustainable development and enhancing core competitiveness[119] - The apparel accessories industry faces significant downward pressure due to a slowdown in global economic growth and consumer demand[127] Dividend Policy - The company distributed a cash dividend of 3.50 CNY per 10 shares for the 2018 fiscal year, totaling 265,307,149.80 CNY, which was 85.50% of the net profit attributable to ordinary shareholders[135] - For the 2019 fiscal year, the proposed cash dividend is 4.00 CNY per 10 shares, amounting to 303,208,171.20 CNY, representing 104.32% of the net profit attributable to ordinary shareholders[140] - The company’s cash dividend policy is designed to ensure sustainable development and reasonable returns for investors, reflecting its commitment to shareholder value[135] Challenges and Risks - The company anticipates facing risks from the ongoing COVID-19 pandemic, which could impact production, logistics, and market demand[124] - The international trade environment remains uncertain, with increasing trade protectionism and ongoing disputes affecting the company's international strategy[127] - The production cost pressures have increased due to rising costs of raw materials, labor, and stricter environmental regulations, impacting the company's competitive advantage[127] Compliance and Governance - The company has not reported any changes in its controlling shareholder since its listing[17] - The company has not utilized any raised funds during the reporting period[109] - The company strictly fulfilled its commitments regarding share reduction and non-competition, ensuring compliance with regulations and shareholder interests[147] - The company has maintained its accounting firm, Tianjian Accounting Firm, for 20 years, with an audit fee of ¥1.1 million[173]