NSU(SZ:002089)2021-07-26 16:00Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the year, representing a growth of 20% compared to the previous year[13]. - The company's operating revenue for 2018 was approximately ¥766.34 million, a decrease of 52.24% compared to the previous year[18]. - The net profit attributable to shareholders was a loss of approximately ¥512.51 million, representing an increase in loss of 178.35% year-over-year[18]. - The net cash flow from operating activities was negative at approximately ¥52.01 million, a decline of 129.18% compared to the previous year[18]. - The total assets of the company increased to 3 billion RMB, reflecting a solid financial position and capacity for future investments[13]. - The total assets at the end of 2018 were approximately ¥4.73 billion, an increase of 4.14% from the previous year[19]. - The net assets attributable to shareholders decreased by 29.40% to approximately ¥1.18 billion compared to the end of 2017[19]. - The company reported a basic and diluted earnings per share of -¥0.37 for 2018[18]. - The company reported a significant decline in operating cash flow, with a net cash flow from operating activities of -CNY 52,012,848.08, a decrease of 129.18% compared to the previous year[73]. - The company’s total assets and liabilities were impacted by significant impairment provisions, affecting net profit and cash flow[76]. Market Expansion and Strategy - The company has provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on new product launches and market expansion strategies[13]. - The company is planning to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[13]. - The company has formed a strategic layout in the new energy electric vehicle industry, focusing on "complete vehicles as the leader and batteries as the supporting"[39]. - The company aims to enhance its market share in the electric logistics vehicle sector while maintaining its leading position in sales within the specialized vehicle industry[95]. - The company is actively exploring opportunities for market expansion and strategic partnerships in the renewable energy sector[154]. - The company is focused on expanding its market presence through strategic collaborations and investments in the new energy sector[159]. Research and Development - Investment in new product development increased by 30%, with a focus on innovative technologies in the energy sector[13]. - The company has increased its R&D investment in the electric logistics vehicle and battery sectors, enhancing its competitive edge[44]. - The company focused on quantum encryption technology and high-performance LED research as part of its R&D strategy[72]. - The number of R&D personnel increased by 56.41% to 122, representing 26.99% of the workforce[73]. - The company is committed to increasing its R&D investment in LED technology to maintain competitive advantages in the LED chip industry[98]. Subsidiaries and Investments - The company has invested in various subsidiaries focusing on electric vehicle batteries and related technologies[30]. - The company recognized impairment losses on long-term equity investments in its subsidiaries, including Shaanxi Tongjia and Jiangxi Dibeike, due to policy changes in the new energy vehicle sector, leading to substantial financial pressure[91]. - The company’s investment in Shaanxi Tongjia resulted in a net loss of approximately 537.27 million yuan, reflecting the impact of industry policy changes[91]. - The company’s total revenue from its subsidiaries and investments indicates a need for strategic adjustments in response to market conditions[91]. - The overall financial condition of the company has been significantly affected by the performance of its major subsidiaries, necessitating a focus on operational improvements[91]. Risk Management - The company has identified key risks, including market competition and regulatory changes, which may impact future performance[4]. - The company plans to continue monitoring market trends and adjust its strategies accordingly to mitigate risks associated with its investments[91]. Profit Distribution and Shareholder Returns - No cash dividends will be distributed to shareholders this year, as the company aims to reinvest profits into growth initiatives[5]. - The company plans to enhance shareholder returns through a share repurchase program, reflecting confidence in future growth[50]. - The company maintains a stable profit distribution policy, ensuring cash dividends are not less than 10% of the distributable profits of the parent company each year[111]. - The company has a clear three-year shareholder return plan, emphasizing cash dividends as the primary method of profit distribution[116]. - The company’s cash dividend policy aligns with regulatory requirements and emphasizes sustainable development alongside reasonable investor returns[113]. Operational Challenges - The company has maintained a strong internal control system, although some deficiencies were noted in the audit report[4]. - The company has taken measures to address the financial challenges faced by its subsidiaries, including impairment provisions and strategic reviews[91]. - The company is actively working on resolving issues related to bad debt provisions and asset impairment losses for Shaanxi Tongjia[124]. Legal and Compliance - The company is involved in a lawsuit concerning a compensation payment of 233.17 million yuan, with a court application for asset preservation filed on April 3, 2018[147]. - The audit report issued by Da Xin Accounting Firm contains a qualified opinion due to insufficient evidence regarding the financial status and operating results of Jiangxi Dibi Ke[136]. - The board of directors agrees with the qualified opinion from Da Xin Accounting Firm and emphasizes the importance of addressing the issues raised[138]. Lease Agreements - The company signed multiple lease agreements with various companies, with monthly rents ranging from 9 to 25 RMB per square meter, for properties in Suzhou Industrial Park[164][165][166]. - The company has a lease with Shenzhen Pudong Development Bank for 684 square meters at a monthly rent of 272,916 CNY, with a lease term of 5 years[190]. - The company has multiple lease agreements with various tenants in Shenzhen, with monthly rents ranging from 25,500 CNY to 538,805 CNY, covering areas from 108 square meters to 2,143.65 square meters[190][191][192][193][194][195][196].