WISCOM(SZ:002090)2020-04-22 16:00Financial Performance - The company's operating revenue for 2019 was CNY 1,988,441,032.51, representing an increase of 18.65% compared to CNY 1,675,905,200.32 in 2018[15] - The net profit attributable to shareholders for 2019 was CNY 96,771,189.11, a 5.13% increase from CNY 92,046,132.13 in 2018[15] - The net profit after deducting non-recurring gains and losses was CNY 38,549,960.77, which is a significant increase of 34.00% compared to CNY 28,767,606.95 in 2018[15] - The net cash flow from operating activities surged to CNY 397,591,275.06, marking a dramatic increase of 387.38% from CNY 81,577,799.83 in 2018[15] - The total assets at the end of 2019 were CNY 3,692,359,967.46, a decrease of 4.56% from CNY 3,868,649,596.45 at the end of 2018[16] - The net assets attributable to shareholders increased by 5.68% to CNY 1,302,463,372.46 from CNY 1,232,442,360.75 at the end of 2018[16] - The basic earnings per share for 2019 were CNY 0.2394, reflecting a 5.14% increase from CNY 0.2277 in 2018[15] - The weighted average return on equity was 7.63%, slightly down from 7.65% in 2018[15] Dividend Distribution - The company plans to distribute a cash dividend of CNY 0.25 per 10 shares, totaling CNY 101,066,234.90 based on 404,264,936 shares[4] - The cash dividend for 2018 represented 20.67% of the net profit attributable to the parent company, while the 2019 proposed dividend represents 10.44%[118] - The company’s net profit for 2019 was 101,208,425.75 yuan, with distributable profits amounting to 397,589,825.57 yuan after accounting for the dividend distribution[120] - The cash dividend distribution plan for 2019 is pending approval from the annual general meeting[121] Business Operations and Strategy - The company has completed the strategic layout of the entire industrial chain in the smart energy business, which includes power product business, power design, and integrated operation and maintenance business[14] - The company actively explores new business directions in energy conservation, environmental protection, and contract energy management to enhance its overall solution capabilities for smart cities[28] - The company has maintained its position as an important supplier for the State Grid Corporation, with its protection automation products widely applied across all provinces in China[26] - The company is actively expanding its market presence internationally, with some products exported to countries like India, Pakistan, and Vietnam[34] - The company is focused on optimizing its asset structure and improving financial efficiency through strategic divestitures[85] Research and Development - The company has over 300 dedicated R&D personnel and has established multiple research centers, including a smart energy R&D center and a smart city research institute[33] - The company holds more than 100 patents and 200 software copyrights, demonstrating its commitment to innovation and technology advancement[33] - The company is leveraging advanced technologies such as big data and artificial intelligence to enhance urban management and governance capabilities[95] Market Performance - The revenue from the smart energy segment decreased by 9.96% to approximately ¥823.78 million, accounting for 41.43% of total revenue[50] - The smart city segment saw a significant growth of 53.33%, with revenue reaching approximately ¥1.16 billion, making up 58.45% of total revenue[50] - The company achieved a 75.02% increase in revenue from intelligent products and services, totaling approximately ¥811.53 million[51] Investment and Projects - The company is currently investing in the second phase of the Xinjiang Mu Lei Lao Jun Miao Wind Farm, with a capacity of 250MW, expected to be operational by the end of 2020[45] - The company has signed contracts worth 172,409,000 CNY that have not yet been recognized as revenue as of December 31, 2019[57] - The company is actively pursuing market expansion in the renewable energy sector, with ongoing projects in wind energy[80] Risk Management - The company is facing risks related to technology innovation, market competition, talent retention, accounts receivable, and macroeconomic factors[101][102][103][104][105] - The company is addressing the risk of accounts receivable by enhancing project selection, client quality, and collection efforts[104] - The company acknowledges the impact of the COVID-19 pandemic on its operations and revenue, with potential year-on-year declines[105] Corporate Governance and Compliance - The company emphasizes the protection of shareholder and creditor rights, adhering to legal regulations and improving corporate governance[169] - The company has maintained a transparent and compliant dividend policy, ensuring the protection of minority shareholders' rights[115] - The company ensured accurate and timely information disclosure, with no incidents of selective disclosure reported[170] Social Responsibility - The company has maintained a strong commitment to quality management, achieving ISO 9001:2015 certification and ensuring compliance with quality standards in production[177] - The company actively engages in social responsibility initiatives, including donations to educational institutions and support for poverty alleviation projects[181] - The company donated a total of 700,000 RMB to support COVID-19 relief efforts, including contributions to local hospitals[180]