兴森科技(002436) - 2019 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2019 was CNY 3,803,722,198.74, representing a year-on-year increase of 9.51% from CNY 3,473,258,603.48 in 2018[12]. - Net profit attributable to shareholders for 2019 was CNY 291,916,734.51, a 35.95% increase compared to CNY 214,720,816.25 in 2018[12]. - The net profit after deducting non-recurring gains and losses was CNY 256,910,559.67, up 49.51% from CNY 171,837,584.21 in 2018[12]. - The net cash flow from operating activities reached CNY 513,457,721.00, reflecting a 54.10% increase from CNY 333,190,502.62 in 2018[12]. - Basic earnings per share for 2019 were CNY 0.20, an increase of 42.86% from CNY 0.14 in 2018[12]. - Total assets at the end of 2019 amounted to CNY 5,201,013,136.82, a 9.96% increase from CNY 4,730,088,601.85 at the end of 2018[12]. - The net assets attributable to shareholders were CNY 2,831,371,264.81, up 11.33% from CNY 2,543,262,304.13 in 2018[13]. - The weighted average return on equity for 2019 was 10.89%, compared to 8.66% in 2018, indicating an improvement of 2.23%[12]. - The company achieved a total operating revenue of CNY 3,803.72 million in 2019, representing a year-on-year growth of 9.51%[35]. - The company’s operating profit rose to CNY 355.54 million, marking a growth of 28.96% compared to the previous year[35]. - The overall expense ratio decreased, with selling expense ratio down by 0.59 percentage points and management expense ratio down by 0.24 percentage points[35]. - The company’s overseas revenue accounted for 53.50% of total revenue, showing a slight decrease from the previous year[39]. - In 2019, the total operating cost amounted to CNY 2,596,928,104.69, an increase from CNY 2,415,454,265.29 in 2018, reflecting a growth of 7.52%[42]. Revenue Breakdown - PCB business revenue reached CNY 2,921.56 million, with a growth of 4.54% and a gross margin of 31.91%[36]. - Semiconductor business revenue increased significantly to CNY 801.60 million, up 39.75%, with a gross margin of 24.12%[37]. - The semiconductor testing board business saw a revenue increase of 49.33%, reaching CNY 504.12 million, with a gross margin of 27.92%[37]. Investment and R&D - The company reported a total R&D investment of CNY 197,840,530.75 in 2019, which is 5.20% of operating revenue, showing a 10.19% increase from CNY 179,543,024.04 in 2018[50]. - The number of R&D personnel increased by 9.33% to 410 in 2019, maintaining a stable proportion of 16.07% of the total workforce[50]. - The company has a research team of over 100 professionals and has established three provincial-level R&D institutions, enhancing its capability to undertake national-level projects[29]. - The company has allocated 50 million CNY for research and development in advanced circuit technologies for the upcoming fiscal year[125]. Market Position and Strategy - The company maintains a leading position in the PCB sample and small batch board market, with an average of 25,000 types of PCB orders per month[21]. - The company is actively expanding its technology innovation and market development efforts to adapt to industry demands and trends[20]. - The company plans to continue expanding its semiconductor business and leverage capital market resources to achieve strategic goals[34]. - The company plans to expand its market presence in Southeast Asia, targeting a 15% increase in market share by 2021[125]. - The company aims to enhance market share and operational efficiency while managing risks associated with macroeconomic fluctuations and raw material price volatility[89]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.8 per 10 shares, based on a total of 1,487,907,504 shares[2]. - The cash dividend for 2018 was 0.60 CNY per 10 shares, amounting to 89,274,450.24 CNY, representing 41.58% of the net profit attributable to ordinary shareholders[96]. - The cash dividend for 2017 was 0.30 CNY per 10 shares, totaling 44,637,225.12 CNY, which was 27.09% of the net profit attributable to ordinary shareholders[96]. - The company's profit distribution policy aims to provide stable and reasonable returns to shareholders, with a focus on cash dividends[94]. - The total distributable profit for 2019 was 211,418,134.42 CNY, with the cash dividend representing 100% of the profit distribution[97]. Environmental Compliance - The company has passed the OHSAS 18001:2007 and ISO 14001:2015 certifications, emphasizing its focus on employee safety and environmental management[147]. - The company has been recognized as a "Green Environmental Excellent Enterprise" for three consecutive years from 2017 to 2019[147]. - The company has implemented measures to ensure that all emissions are treated and meet the relevant environmental standards, demonstrating commitment to sustainability[152]. - The company’s wastewater treatment station effectively processes various pollutants, including ammonia nitrogen and total phosphorus, ensuring compliance with local regulations[153]. - The company has established a dedicated EHS environmental system team to ensure compliance with the latest environmental policies and regulations[156]. Corporate Governance - The company maintains complete independence from its controlling shareholder in business, personnel, assets, institutions, and finance[199]. - The company has established a standardized and independent financial accounting system, with a dedicated financial department[200]. - The governance structure is compliant with relevant laws and regulations, with no reported administrative measures taken by regulatory authorities during the reporting period[196]. - The board of directors consists of seven members, including three independent directors, ensuring compliance with governance standards[196]. - The company has established specialized committees under the board, including audit, nomination, strategy, and compensation committees[196]. Legal and Regulatory Matters - The company confirmed that there were no non-operating fund occupations by its controlling shareholders or related parties during the reporting period[102]. - The company has not faced any bankruptcy reorganization matters during the reporting period[115]. - The company has not reported any major related party transactions that exceed the disclosure threshold during the reporting period[120]. - The company has not faced any significant penalties or corrective actions related to environmental regulations during the reporting period[117].