巨轮智能(002031) - 2019 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2019 was CNY 1,406,523,306.22, representing a slight increase of 0.32% compared to CNY 1,402,025,480.83 in 2018[23]. - The net profit attributable to shareholders of the listed company decreased by 61.65% to CNY 20,910,336.42 from CNY 54,520,988.88 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was CNY -78,280,796.98, a significant decline of 1,811.68% compared to CNY 4,573,333.46 in 2018[23]. - The basic earnings per share dropped by 61.69% to CNY 0.0095 from CNY 0.0248 in 2018[23]. - The total assets at the end of 2019 were CNY 5,747,755,872.15, a decrease of 19.09% from CNY 7,104,313,007.56 at the end of 2018[23]. - The net cash flow from operating activities was CNY 448,419,078.55, a minor decrease of 0.20% compared to CNY 449,325,550.34 in the previous year[23]. - The weighted average return on net assets was 0.68%, down from 1.80% in 2018, indicating a decline in profitability[23]. Revenue Breakdown - Revenue from the automotive tire equipment sector decreased by 13.00% to CNY 664,932,456.02, down from CNY 764,322,485.95[57]. - Revenue from the modern services sector increased by 21.94% to CNY 459,046,987.20, compared to CNY 376,457,210.30 in the previous year[57]. - The company's foreign sales reached CNY 429,699,957.15, representing 30.55% of total revenue, an increase of 29.13% from the previous year[60]. - The company's domestic sales were CNY 976,823,349.07, accounting for 69.45% of total revenue, a decrease of 8.65% compared to the previous year[60]. Investment and R&D - The company applied for 20 patents and was granted 23 patents during the reporting period, including 3 invention patents and 1 PCT patent[55]. - Research and development expenses rose by 4.65% to ¥78,109,627.44, representing 5.68% of operating income[78]. - The company has made significant technological advancements with its "precision cast aluminum molds" and "no vent hole tire molds," which have received national invention patents[38]. - The company has achieved breakthroughs in the localization and industrialization of high-precision RV reducers, enhancing the competitiveness of its robotic products[40]. Cash Flow and Dividends - The company plans to distribute a cash dividend of CNY 0.01 per 10 shares, totaling CNY 21,993,956.70 based on the total share capital of 2,199,395,670 shares[7]. - The company reported a net profit attributable to ordinary shareholders of 20,910,336.42 yuan for the fiscal year 2019, with a cash dividend payout ratio of 10.52%[158]. - The company's cash dividend total for 2019 represents 100% of its distributable profit[161]. Risks and Challenges - The company faces various risks, including reliance on the tire industry, fluctuations in raw material prices, and high customer concentration[7]. - The company has faced challenges in the tire mold industry due to structural overcapacity and intensified competition, impacting the economic benefits of the high-precision aluminum alloy tire mold project[115]. - The ongoing COVID-19 pandemic poses significant uncertainties that may affect the company's operations and receivables recovery[151]. Corporate Governance and Compliance - The company has conducted multiple investor relations activities throughout the reporting period to enhance communication with stakeholders[154]. - The company has maintained its accounting firm, with audit fees amounting to CNY 900,000 for the current period[189]. - The company has strictly complied with regulations regarding the disclosure of fundraising usage, with no violations reported[125]. Subsidiaries and Structural Changes - The company established two new subsidiaries and reduced its scope by two subsidiaries during the reporting period[70]. - The company sold 100% of its stake in Guangdong Boxin Industrial Co., Ltd. for CNY 29 million, which is expected to optimize asset structure and improve working capital[133]. - The company has established international subsidiaries and partnerships, including investments in India, the US, and Europe, to enhance its global presence[147].