天津普林(002134) - 2019 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2019 was CNY 418,242,590.19, representing a 6.60% increase compared to CNY 392,363,890.71 in 2018[17] - The net profit attributable to shareholders in 2019 was CNY 12,671,491.44, a significant turnaround from a loss of CNY 59,257,230.67 in 2018, marking a 121.38% increase[17] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 10,343,782.98, up 116.49% from a loss of CNY 62,740,185.25 in the previous year[17] - The net cash flow from operating activities increased by 43.12% to CNY 15,302,240.59, compared to CNY 10,692,073.35 in 2018[17] - The basic earnings per share for 2019 was CNY 0.05, a recovery from a loss of CNY 0.24 in 2018, reflecting a 120.83% improvement[17] - The weighted average return on equity for 2019 was 3.29%, a significant recovery from -14.52% in 2018[17] - The company reported a net profit of CNY 6,313,042.28 in Q4 2019, contributing to the overall positive performance for the year[22] Revenue Breakdown - Domestic revenue reached ¥221,477,077.33, accounting for 52.95% of total revenue, with a significant increase of 24.25% from ¥178,256,176.44 in 2018[44] - International revenue was ¥196,765,512.86, which decreased by 8.10% from ¥214,107,714.27 in the previous year, representing 47.05% of total revenue[44] Assets and Liabilities - Total assets at the end of 2019 were CNY 581,675,491.99, a slight decrease of 0.64% from CNY 585,441,091.51 at the end of 2018[18] - The net assets attributable to shareholders increased by 3.50% to CNY 391,755,026.98, compared to CNY 378,511,623.89 at the end of 2018[18] - The total increase in cash and cash equivalents was -¥19,187,561.25, a decline of 141.61% compared to the previous year[55] Cost Management - The gross profit margin for the printed circuit board segment was 16.03%, down from 19.13% in 2018, indicating a decrease of 3.10%[47] - The company implemented cost control measures, resulting in a reduction of operating costs to ¥351,183,589.88, a decrease of 3.10% from ¥362,422,553.36 in 2018[50] Research and Development - Research and development expenses amounted to ¥13,712,191.78, which is 3.28% of total operating revenue, down from 3.62% in 2018[54] - The number of R&D personnel decreased to 46, representing 5.53% of the total workforce, a slight increase from 5.48% in 2018[54] Market and Industry Trends - The global PCB industry is projected to grow from approximately $63.73 billion in 2019 to $74.76 billion by 2023, with China’s market share increasing from 52.4% to 53.0%[29] - The PCB industry is experiencing a trend towards larger and more concentrated players, with the top 40 manufacturers accounting for 69.2% of the market share in 2018[73] - The PCB industry is evolving towards high system integration, high performance, and "green" production methods, focusing on miniaturization and enhanced functionality[74] Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares for the year[6] - The company has designated 2020 as the "Year of Quality," focusing on optimizing organizational structure and enhancing quality control through advanced design tools and automated processes[77] - The company aims to enhance its technical strength by accelerating the R&D of new materials, products, and technologies to meet the demands of integrated, intelligent, and low-energy electronic products[78] Governance and Management - The company has a diverse board with members holding various professional backgrounds, including finance, engineering, and academia[156] - The company has maintained a stable management team with no changes in shareholding among the board members during the reporting period[152] - The company’s financial management is overseen by experienced professionals with backgrounds in major financial institutions[155] Environmental Compliance - The company reported a total wastewater discharge of 61.68 tons for COD, with a concentration of 113.20 mg/L, complying with the Tianjin wastewater discharge standards[126] - The company has invested in pollution control facilities and conducts regular maintenance to ensure compliance with emission standards[126] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 25,022, reflecting a stable shareholder base[137] - Major shareholders include Tianjin Zhonghuan Electronics with a 25.35% stake and Tianjin Jinrong Investment with a 20.48% stake, indicating significant state ownership[137] Internal Control and Audit - The audit opinion issued by Tianzhi International Accounting Firm confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2019[198] - The company has established internal control measures, but there were no major deficiencies identified during the evaluation[193]