NAURA(SZ:002371)2020-04-24 16:00Financial Performance - The company's operating revenue for 2019 was CNY 4,058,312,881.70, representing a 22.10% increase compared to CNY 3,323,850,956.54 in 2018[15] - The net profit attributable to shareholders for 2019 was CNY 309,032,271.04, up 32.24% from CNY 233,691,724.87 in the previous year[15] - The basic earnings per share for 2019 was CNY 0.6708, an increase of 31.48% from CNY 0.5102 in 2018[15] - The company reported a decrease of 8.06% in net profit attributable to shareholders after deducting non-recurring gains and losses, totaling CNY 70,163,072.93 in 2019[15] - The weighted average return on net assets for 2019 was 8.01%, an increase from 6.83% in 2018[15] - In 2019, the company achieved a revenue of CNY 4.06 billion, representing a year-on-year growth of 22.10%[34] - The net profit attributable to shareholders reached CNY 309 million, an increase of 32.24% compared to the previous year[34] Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -941,473,333.97, a significant decline of 4,504.32% compared to CNY -20,447,601.12 in 2018[15] - Total assets at the end of 2019 reached CNY 13,734,762,794.66, a 37.33% increase from CNY 10,001,490,721.30 in 2018[15] - The net assets attributable to shareholders increased by 65.06% to CNY 5,855,895,563.18 from CNY 3,547,709,610.38 in 2018[15] - The company’s cash and cash equivalents increased by 177.01% to CNY 2.87 billion by the end of 2019, primarily due to additional non-public fundraising[26] Revenue Segmentation - The electronic process equipment segment generated CNY 3.19 billion in revenue, up 26.58% year-on-year, accounting for 78.64% of total revenue[41] - The electronic components segment reported revenue of CNY 847 million, growing by 7.60% year-on-year, making up 20.88% of total revenue[41] Research and Development - The company applied for a total of 4,288 patents by the end of 2019, including 2,834 invention patents, showcasing its strong focus on R&D[29] - Research and development expenses increased by 49.36% to ¥524,612,770.21 in 2019, up from ¥351,241,389.57 in 2018[52] - The company is actively developing next-generation process equipment, with over 20 new processes validated in 2019, enhancing its competitive edge in the semiconductor industry[36] Market and Strategic Initiatives - The market for electronic process equipment is expected to grow steadily, driven by increased investments in semiconductor production lines and the ongoing expansion in the photovoltaic industry[25] - The company has established strong partnerships with major lithium battery manufacturers, enhancing its position in the lithium-ion battery and energy storage sectors[30] - The company plans to enhance market development efforts and increase order acquisition, focusing on core customers in the domestic integrated circuit sector[76] - The company aims to improve the penetration rate of mature equipment and expand its market reach in sectors such as storage chips, logic chips, power devices, MEMS, advanced packaging, photovoltaic, and LED[76] Dividend Policy - The company plans to distribute a cash dividend of CNY 0.63 per 10 shares, based on a total of 495,116,773 shares[4] - The cash dividend for 2018 was 0.52 CNY per 10 shares, amounting to 23,816,227.35 CNY, with a total share capital of 458,004,372 shares[89] - The cash dividends for 2019, 2018, and 2017 represented 10.09%, 10.19%, and 10.21% of the net profit attributable to the company's ordinary shareholders, respectively[90] Corporate Governance - The company ensures that independent directors fulfill their responsibilities and that minority shareholders have opportunities to express their opinions on profit distribution plans[88] - The company’s cash dividend policy is compliant with its articles of association and shareholder resolutions[88] - The company will adjust its profit distribution policy in response to significant changes in external operating conditions or its own operational status[88] Risks and Challenges - The company faces risks related to rapid technological updates in the semiconductor industry, which may affect the industrialization of new products[78] - The company is challenged by a talent shortage in high-end technology due to the rapid increase in demand for skilled personnel in the semiconductor manufacturing sector[78] - The COVID-19 pandemic has led to a decline in global consumer market demand, creating uncertainty in product market demand for the company[79] Shareholder Information - The total number of shareholders at the end of the reporting period was 33,603, a decrease from 51,949 at the end of the previous month[166] - The largest shareholder, Beijing Qixing Huadian Technology Group Co., Ltd., holds 36.31% of the shares, totaling 178,175,721 shares[166] - The company has committed to a 36-month lock-up period for shares acquired during the non-public offering, effective from December 6, 2019, to December 6, 2022[174] Future Outlook - The company provided guidance for the next fiscal year, projecting a revenue growth of 25% and aiming for 1.875 billion RMB[191] - The company plans to enhance its supply chain efficiency, aiming for a 15% reduction in operational costs by the end of the next fiscal year[191] - The management team emphasized a commitment to sustainability, planning to invest 100 million RMB in eco-friendly technologies[199]