东山精密(002384) - 2019 Q4 - 年度财报

Financial Performance - The company reported a total revenue of 1,606,572,477 RMB for the year 2019, with a cash dividend of 0.5 RMB per 10 shares distributed to all shareholders[4]. - The company's operating revenue for 2019 was approximately ¥23.55 billion, representing an increase of 18.80% compared to ¥19.83 billion in 2018[19]. - The net profit attributable to shareholders for 2019 was approximately ¥702.66 million, a decrease of 13.37% from ¥811.06 million in 2018[19]. - The net cash flow from operating activities increased by 88.64% to approximately ¥2.65 billion, up from ¥1.41 billion in 2018[19]. - The basic earnings per share for 2019 was ¥0.44, down 12.00% from ¥0.50 in 2018[19]. - The total assets at the end of 2019 were approximately ¥31.67 billion, an increase of 1.72% from ¥31.14 billion at the end of 2018[20]. - The net assets attributable to shareholders at the end of 2019 were approximately ¥8.65 billion, up 2.75% from ¥8.41 billion at the end of 2018[20]. - The company reported a quarterly revenue of approximately ¥7.18 billion in Q4 2019, with a total annual revenue of approximately ¥23.55 billion[24]. - The company experienced a significant drop in net profit in Q4 2019, reporting a loss of approximately ¥185.61 million attributable to shareholders[24]. Research and Development - The company is actively engaged in research and development of new products and technologies, although specific figures on R&D investment were not disclosed in the provided content[10]. - The company emphasizes technological innovation and has established a robust R&D system, focusing on advanced technologies in the 5G sector[40]. - The company has made significant investments in R&D, with R&D expenses increasing substantially, driving the iteration and upgrade of core products[49]. - The company is committed to increasing R&D investment and building smart factories to improve product quality and delivery capabilities[99]. Market Position and Strategy - The company has a diversified portfolio with subsidiaries operating in various sectors, including electronics and precision manufacturing, enhancing its market presence[10]. - The company has strategically expanded its business to include LED packaging and printed circuit boards, focusing on smart interconnect solutions[17]. - The company is focusing on the 5G communication equipment sector, with its subsidiary achieving significant revenue and profit growth in 2019[47]. - The company aims to enhance its production efficiency and expand its production scale while focusing on the development of PCB and communication device businesses in response to 5G market opportunities[99]. - The company has established stable relationships with major international clients, with the top five clients accounting for over 50% of its revenue, indicating a potential risk if any major client faces adverse conditions[101]. Governance and Accountability - The company emphasized the importance of accurate financial reporting and the responsibility of its board and management to ensure completeness and truthfulness in disclosures[4]. - The company’s governance structure includes a comprehensive overview of its board, supervisors, and senior management, ensuring accountability and transparency[4]. - The company has fulfilled all commitments made by its actual controllers and shareholders during the reporting period[117]. Shareholder Information - The company proposed a cash dividend of 0.5 yuan per 10 shares for the fiscal year 2019, totaling 80,328,623.85 yuan, which represents 11.43% of the net profit attributable to shareholders[116]. - The cash dividend for 2019 is fully funded from the company's distributable profits, which amounted to 89,599,460.01 yuan[116]. - The company has maintained a consistent cash dividend distribution over the past three years, with amounts of 64,229,294.3 yuan in 2017, 88,361,486.2 yuan in 2018, and 80,328,623.85 yuan in 2019[115]. - The total number of shares for the cash dividend distribution is based on 1,606,572,477 shares as of December 31, 2019[116]. Acquisitions and Investments - The company has made strategic acquisitions, including the purchase of MFLEX and Multek, to enhance its production capabilities and market position[36]. - The company acquired 70% of Aifu Electronics for a cash consideration of 171.5 million yuan, becoming its controlling shareholder[124]. - Aifu Electronics' net profit attributable to the parent company for 2019 was 40.2249 million yuan, falling short of the performance commitment of 65 million yuan by 24.7751 million yuan[125]. Financial Management - The company has adopted a prudent financial policy, emphasizing cash flow management and optimizing capital structure to support future growth[48]. - The total cash and cash equivalents increased by 421.14% to 701,098,921.65 yuan, reflecting improved cash management[71]. - The company has not made any significant equity investments during the reporting period[80]. Environmental and Social Responsibility - The company actively participates in social responsibility initiatives, focusing on employee development and environmental protection[165]. - The company has established a complete set of pollution control facilities, ensuring good operational status[170]. - The company has complied with environmental impact assessment requirements for new, modified, and expanded projects[171]. Risks and Challenges - The company has highlighted the importance of investor awareness regarding potential risks associated with its future plans and market conditions[4]. - The company faces risks from rapid technological upgrades in the industry, necessitating continuous R&D investment to avoid obsolescence[102]. - The company is exposed to international trade risks due to its reliance on exports and the potential impact of changing trade policies[103].