*ST广田(002482) - 2019 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2019 was ¥13,046,256,284.52, a decrease of 9.39% compared to ¥14,397,637,076.66 in 2018[22] - The net profit attributable to shareholders of the listed company was ¥143,877,091.34, down 58.70% from ¥348,388,026.53 in the previous year[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥103,418,872.08, a decline of 64.35% compared to ¥290,096,923.88 in 2018[22] - Basic earnings per share were ¥0.09, down 60.87% from ¥0.23 in the previous year[22] - The net cash flow from operating activities was -¥997,165,223.07, a significant decrease of 321.94% from ¥449,285,824.16 in 2018[22] - The total revenue from the construction and decoration industry accounted for 99.29% of total revenue, with a year-on-year decrease of 8.99%[90] - The company's revenue from the construction and decoration industry was approximately CNY 12.95 billion, with a year-on-year decrease of 8.99%[93] - The gross profit margin for the decoration construction segment was 14.70%, down by 0.90% compared to the previous year[94] - The gross profit margin for the construction segment was reported at 1.30%, reflecting a significant year-on-year decline of 3.82%[93] Assets and Liabilities - Total assets at the end of 2019 were ¥24,444,193,026.03, an increase of 16.59% from ¥20,966,696,318.50 at the end of 2018[22] - The net assets attributable to shareholders of the listed company were ¥6,936,107,676.92, a slight decrease of 0.13% from ¥6,945,477,725.33 in 2018[22] - The company's equity assets decreased by 95.68% compared to the same period last year, primarily due to the reclassification of shares held in Guangtian High-Tech to assets held for sale[61] - The company reported a significant increase in accounts receivable, which reached 12,272,492,050.89 yuan, accounting for 50.21% of total assets, up from 9,925,838,546.73 yuan the previous year[127] - The company's cash and cash equivalents at year-end were 3,061,991,656.02 yuan, representing 12.53% of total assets, down from 16.29% the previous year[127] Cash Flow - The net cash flow from operating activities was -¥997,165,223.07, a significant decline of 321.94% compared to the previous year[120] - The net cash flow from investing activities increased by 66.71% year-on-year, mainly due to increased investment in the Guangtian Design Center construction project[123] - The net cash flow from financing activities decreased by 23.66% year-on-year, primarily due to the company repaying bank loans[124] - The net increase in cash and cash equivalents decreased by 154.98% year-on-year, influenced by the combined effects of operating, investing, and financing activities[124] Dividends - The company plans to distribute a cash dividend of ¥0.12 per 10 shares to all shareholders[6] - The cash dividend payout ratio for 2019 was 12.82% of the net profit attributable to shareholders[179] - The company declared a cash dividend of 0.12 yuan per 10 shares for the 2019 fiscal year, totaling 18,447,355.88 yuan, which is 100% of the distributable profit[184] - The cash dividends paid in the last three years have been 18,447,355.88 yuan in 2019, 46,118,389.71 yuan in 2018, and 76,863,982.85 yuan in 2017[179] Market Position and Strategy - The company maintains a strong position in the construction decoration industry, with comprehensive qualifications in various engineering fields[39] - The company has been ranked second in the top 100 of China's architectural decoration industry for four consecutive years, demonstrating strong competitive strength and brand recognition[45] - The company holds the largest market share in the residential fine decoration sector, with over 20 years of experience and a unique standardized system and control model[45] - The company plans to leverage the opportunities presented by the Guangdong-Hong Kong-Macao Greater Bay Area and Shenzhen demonstration zone for future growth[43] - The company aims to build a "big decoration" platform, integrating various services across the construction and decoration sectors[73] Innovation and Technology - The company is focusing on innovation and technology, particularly in smart home solutions and financial services related to core engineering and supply chain[39] - The company launched the "GT Assembly" product, integrating various technological systems, and received 1 invention patent and 28 utility model patents in 2019[85] - The company has established a mature product standard system around "GT modular decoration," including three new enterprise standards in 2019[113] - The company aims to enhance collaboration in R&D and increase investment in modular decoration technology and processes in the coming year[119] Risks and Challenges - The company faces risks from macroeconomic fluctuations, which could negatively impact demand for public building decoration services if economic growth slows[164] - The competitive landscape in the construction decoration industry is intensifying, with many companies enhancing their capabilities, posing a market competition risk[167] - The company has a high customer concentration risk, but efforts to expand its client base are underway to mitigate this risk[166] Human Resources and Training - The company has established a comprehensive talent training system, enhancing its competitive edge through continuous professional development[74] - The company conducted 71 training sessions and developed 36 courses to enhance employee skills, achieving a record number of first-level construction engineer exam passers[83] Accounting and Compliance - There were changes in accounting policies due to the implementation of new financial reporting standards effective from January 1, 2019[195] - The company appointed Tianjian Accounting Firm as the new auditor for the 2019 fiscal year, replacing Ruihua Accounting Firm[200] - The remuneration for the domestic accounting firm is set at 1.8 million yuan[200]