TZE(SZ:002129)2020-03-27 16:00Financial Performance - The company's operating revenue for 2019 was ¥16,886,971,336.01, representing a 22.76% increase compared to ¥13,755,716,442.85 in 2018[20]. - The net profit attributable to shareholders for 2019 was ¥903,661,419.12, a 42.93% increase from ¥632,256,816.92 in 2018[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥620,711,519.13, which is a 98.38% increase from ¥312,893,444.68 in 2018[20]. - The net cash flow from operating activities for 2019 was ¥2,506,972,805.21, up 46.80% from ¥1,707,709,057.53 in 2018[21]. - The basic earnings per share for 2019 was ¥0.3245, a 38.73% increase from ¥0.2339 in 2018[21]. - The total assets at the end of 2019 were ¥49,118,519,667.54, reflecting a 15.04% increase from ¥42,697,311,470.60 at the end of 2018[21]. - The company achieved total operating revenue of CNY 1,688,697.13 million in 2019, a year-on-year increase of 22.76%[40]. - The net profit attributable to shareholders reached CNY 90,366.14 million, reflecting a growth of 42.93% compared to the previous year[40]. - The company’s operating cash flow net amount was CNY 250,697.28 million, up 46.80% year-on-year, with a total including bank bills reaching CNY 452,285.99 million, a 97.79% increase[40]. Dividend Policy - The company reported a cash dividend of 0.30 RMB per 10 shares, totaling approximately 83.55 million RMB based on 2,785,156,473 shares[6]. - The total cash dividend amount for 2019 is RMB 83,554,694.19, which accounts for 9.25% of the net profit attributable to ordinary shareholders[98]. - The cash dividend for 2018 was also RMB 83,554,694.19, representing 13.22% of the net profit attributable to ordinary shareholders[98]. - The company has maintained a consistent cash dividend policy over the past three years, with dividends of RMB 0.20, RMB 0.30, and RMB 0.30 per 10 shares for 2017, 2018, and 2019 respectively[96]. - The cash dividend distribution represents 100% of the total profit distribution for the year[99]. - The company continues to focus on maintaining a balance between shareholder returns and reinvestment in growth opportunities[99]. Business Operations and Strategy - The company has maintained its main business operations without any changes since its listing[18]. - The company is focused on the development of high-efficiency solar cells and plans to expand its production capacity in the coming years[12]. - The company is actively involved in the semiconductor materials sector, particularly in the production of monocrystalline and polycrystalline silicon[11]. - The company has a strategic focus on expanding its market presence in the renewable energy sector, particularly in solar energy applications[12]. - The company emphasizes sustainable development and innovation in manufacturing processes, aiming for low emissions and resource efficiency[33]. - The company has a strategic focus on vertical and horizontal expansion in semiconductor and renewable energy sectors, enhancing its competitive edge[31]. - The company is committed to expanding its market presence internationally, leveraging long-term cooperation with global clients[35]. - The company is focusing on the development of new technologies in renewable energy, particularly in solar cell production[74]. - The company is actively pursuing market expansion through strategic investments and partnerships in the photovoltaic sector[71]. Research and Development - R&D investment reached approximately 1,168.53 million yuan, accounting for 6.92% of operating income, with a 50.70% increase from the previous year[62]. - R&D personnel increased by 13.78% to 809, representing 8.61% of the total workforce[62]. - The company has obtained four new invention patents for its high-efficiency shingled module technology in China, Europe, and Japan[150]. - Research and development expenses increased by 12% to 200 million RMB, reflecting a commitment to innovation[181]. Market and Sales Performance - Revenue from the renewable energy sector was ¥15,439,275,154.75, accounting for 91.43% of total revenue, with a year-on-year growth of 24.24%[48]. - Semiconductor sector revenue was ¥1,237,390,813.79, representing 7.33% of total revenue, with a year-on-year increase of 6.12%[48]. - Domestic sales contributed ¥12,796,590,674.23, which is 75.78% of total revenue, showing a growth of 22.19% year-on-year[49]. - Export revenue was ¥4,090,380,661.78, accounting for 24.22% of total revenue, with a year-on-year increase of 24.59%[49]. - Sales volume of solar silicon wafers increased by 76.19% to 514,439.81 million pieces, while production volume rose by 68.15% to 505,078.95 million pieces[50]. - Sales volume of semiconductor silicon wafers grew by 20.83% to 452.10 million square inches, with production volume increasing by 20.65% to 458.66 million square inches[51]. Corporate Governance - The company has not reported any significant accounting errors requiring retrospective restatement during the reporting period[104]. - There were no significant lawsuits or arbitration matters during the reporting period[109]. - The company maintained a continuous relationship with Zhongzhenhua Accounting Firm for 13 years, with an audit fee of CNY 510,000 for the current period[106]. - The company has not faced any penalties or rectification issues during the reporting period[110]. - The company has committed to avoiding competition with its controlling shareholder, Tianjin Zhonghuan Electronics Information Group Co., Ltd.[111]. - The company has zero retired employees requiring financial support, indicating a focus on current workforce management[188]. - The company strictly adheres to legal regulations in its governance practices, ensuring transparency and fairness in shareholder meetings[194]. Environmental and Social Responsibility - The company is a key pollutant discharge unit, with its subsidiaries adhering to local environmental standards without exceeding discharge limits[141]. - The company has established a dual assessment mechanism for safety and environmental protection, ensuring compliance with ISO 14001 standards[144]. - The company has undertaken a total of 9 photovoltaic poverty alleviation projects, benefiting 8,011 households with an annual income of approximately 3,000 yuan per household[135]. - The total investment in poverty alleviation projects amounted to 110,121.35 million, directly helping 8,011 registered impoverished individuals[136]. - The company plans to expand its photovoltaic poverty alleviation program, focusing on key impoverished counties and areas with good solar resources[140]. Future Outlook and Plans - The company plans to invest CNY 9.13 billion in the construction of a new production base for high-efficiency monocrystalline silicon, with a capacity exceeding 25 GW[152]. - The company plans to raise up to CNY 5 billion through a public offering of A-shares[149]. - The company signed a project cooperation agreement with the Hohhot government to build a 25GW monocrystalline silicon project[149]. - The company is exploring partnerships with international firms to enhance its technological capabilities and market reach[181]. - The company aims to reduce production costs by 15% through improved manufacturing processes in the next fiscal year[181].