JINJIA(SZ:002191)2019-04-17 16:00Financial Performance - The company reported a total revenue of 1,464,870,450 RMB for the year 2018, with a cash dividend of 3.00 RMB per 10 shares distributed to all shareholders[6]. - The company's operating revenue for 2018 was ¥3,374,004,791.26, representing a 14.56% increase compared to ¥2,945,293,524.27 in 2017[26]. - The net profit attributable to shareholders for 2018 was ¥725,308,104.74, which is a 26.27% increase from ¥574,411,233.05 in 2017[26]. - The net cash flow from operating activities for 2018 was ¥852,646,915.77, showing a 4.00% increase from ¥819,829,106.31 in 2017[26]. - The basic earnings per share for 2018 was ¥0.49, up 13.95% from ¥0.43 in 2017[26]. - The total assets at the end of 2018 were ¥8,203,580,899.26, a slight increase of 0.98% from ¥8,123,780,067.72 at the end of 2017[29]. - The net assets attributable to shareholders at the end of 2018 were ¥6,492,800,613.47, reflecting a 0.68% increase from ¥6,448,893,066.86 at the end of 2017[29]. - The company reported a quarterly revenue of ¥997,158,602.87 in Q4 2018, which was the highest among the four quarters[32]. - The net profit attributable to shareholders in Q4 2018 was ¥179,806,999.56, showing a recovery from the previous quarters[32]. - The company’s total revenue for the packaging printing segment reached ¥3,074,825,992.84, representing a year-on-year increase of 14.27%[74]. - The revenue from cigarette labels was ¥2,566,315,859.21, with a growth of 8.05% compared to the previous year[74]. - The gross margin for the packaging printing industry was 41.34%, showing a slight decrease of 0.53% year-on-year[74]. - The East China region generated ¥1,595,138,342.75 in revenue, up 18.45% from the previous year[74]. - The company reported a significant increase in sales volume for cigarette labels, reaching 353.07 million large boxes, a growth of 7.97%[78]. - Revenue from the color box products surged by 67.09% compared to the previous year, driven by enhanced automation and new customer acquisitions[61]. - The company’s total sales revenue from laser packaging materials was ¥608,456,923.43, with a year-on-year growth of 4.62%[74]. - The company’s top five customers accounted for 50.90% of total annual sales, with the largest customer contributing ¥553,819,526.11[83]. - The total cost of goods sold for the packaging printing segment was ¥1,803,696,512.54, which is a 15.30% increase from the previous year[79]. Research and Development - The company has applied for 124 new patents during the reporting period, including 40 invention patents, and has received 64 patent authorizations, maintaining its competitive edge in the industry[51]. - Research and development expenses amounted to ¥140,312,981.76, reflecting a year-on-year increase of 10.83%[86]. - The number of R&D personnel rose by 4.90% to 492 in 2018, while the proportion of R&D personnel to total employees decreased by 0.26% to 11.17%[88]. - R&D expenditure as a percentage of operating revenue decreased to 4.16% in 2018 from 4.30% in 2017[88]. - The company has developed new technologies, including a method for predicting ink composition ratios based on spectral reflectance[91]. - The company is expanding its market presence with new products such as a UV ink curing detection device and a double-sided printing device[91]. - The company has filed multiple patents for innovative printing methods and equipment, enhancing its competitive edge in the industry[89][91]. - The company is focused on sustainable practices, as evidenced by its development of environmentally friendly inks and coatings[91]. Market Strategy and Expansion - The company plans to focus on new product development and market expansion strategies to enhance its competitive position in the industry[6]. - The company is actively exploring the development of new tobacco products as a potential new profit growth point[40]. - The company is focusing on expanding its market presence in high-end paper packaging, which is expected to grow in response to increasing consumer demand for premium products[46]. - The company is pursuing external mergers and acquisitions to inject continuous development momentum, focusing on acquiring quality enterprises with core technologies and customer advantages[179]. - The company is actively pursuing market expansion through the introduction of new products and technologies, positioning itself for future growth[72]. - The company aims to double its revenue to CNY 9 billion by 2020, focusing on large packaging and health industries[171]. - The company plans to maintain a compound annual growth rate of over 10% for net profit from 2019 to 2021[172]. - The company is exploring opportunities for mergers and acquisitions in the European market to diversify its product offerings[106]. - The company is expanding its premium color box packaging by enhancing automation production levels and increasing production efficiency, leveraging technologies like RFID and big data to boost market sales[174]. Risk Management - The company highlighted the importance of addressing risks such as industry policy changes, new product market expansion, and raw material price increases, which could adversely affect future development[6]. - The company faces risks related to industry policies affecting its main tobacco label business, which could impact sales and pricing[180]. - The company is addressing potential risks from new product market competition by conducting thorough market research and leveraging technological innovation[181]. - The company is managing risks associated with external mergers and acquisitions by conducting in-depth research and ensuring scientific decision-making during negotiations[181]. - The company is implementing strategies to mitigate the impact of rising raw material prices and declining tobacco label prices on its gross margin[181]. - The company is aware of the risks associated with cross-industry operations and is working to strengthen its professional team and resource integration[183]. Shareholder and Dividend Policy - The company plans to distribute a cash dividend of 3.00 yuan per 10 shares, based on a total share capital of 1,464,870,450 shares[190]. - The total cash dividend amount for 2018 is 439,461,135.00 yuan, which accounts for 60.59% of the net profit attributable to ordinary shareholders[189]. - The total cash dividend (including other methods) amounts to 669,683,307.45 yuan, representing 92.25% of the net profit attributable to ordinary shareholders[189]. - The company has a cash dividend policy that requires a minimum of 20% of profit distribution to be in cash dividends during significant capital expenditure phases[193]. - The company did not implement any stock dividends or capital reserve transfers in the past three years[188]. - The cash dividend amount for 2017 was 446,080,314.60 yuan, which was 77.66% of the net profit attributable to ordinary shareholders[189]. - The cash dividend amount for 2016 was 326,511,800.00 yuan, which was 57.21% of the net profit attributable to ordinary shareholders[189]. Corporate Governance and Compliance - The company has committed to avoiding competition with its own business and will not engage in similar or competitive activities directly or indirectly[194]. - The actual controller of the company, Qiao Luyu, has made a commitment regarding the authenticity of the information provided, stating that any violations will result in legal responsibility[194]. - The company has a long-term commitment to not transfer shares for three years from the date of listing, with a maximum of 25% transfer allowed annually thereafter during employment[197]. - The company has pledged to strictly adhere to the commitments made regarding refinancing and will not interfere with the management of the company[197]. - The company has committed to not providing financial assistance or loans to incentive recipients under the stock incentive plan[197]. - The company has confirmed that all commitments made by its actual controller and shareholders have been strictly fulfilled as of the reporting period[194]. - The company will ensure compliance with any new regulatory requirements from the China Securities Regulatory Commission regarding commitments made[197]. - The company has established a commitment to ensure that the remuneration system is linked to the execution of the company's compensation measures[197].