JHCC(002484)2019-04-24 16:00Financial Performance - The company's operating revenue for 2018 was approximately CNY 1.96 billion, representing a 17.63% increase compared to CNY 1.67 billion in 2017[26]. - The net profit attributable to shareholders for 2018 was approximately CNY 243.53 million, an increase of 28.15% from CNY 190.03 million in 2017[26]. - The net profit after deducting non-recurring gains and losses was approximately CNY 196.76 million, reflecting a 34.74% increase from CNY 146.03 million in 2017[26]. - The basic earnings per share for 2018 was CNY 0.2988, up 28.19% from CNY 0.2331 in 2017[26]. - The weighted average return on net assets for 2018 was 7.67%, an increase of 1.41% compared to 6.26% in 2017[26]. - Quarterly revenue for Q4 reached ¥580,912,535.17, with total annual revenue showing a consistent upward trend across all quarters[32]. - Net profit attributable to shareholders for Q4 was ¥65,402,013.19, reflecting a stable performance compared to previous quarters[32]. - The company reported a significant increase in cash flow from operating activities in Q4, amounting to ¥113,498,522.46[32]. - In 2018, the company achieved a total revenue of CNY 1.96 billion, representing a year-on-year growth of 17.63% compared to CNY 1.67 billion in 2017[51]. - The net profit attributable to shareholders was CNY 244 million, an increase of 28.15% from CNY 191 million in 2017[51]. Revenue Sources - The company’s main revenue source, capacitors, accounted for 88.3% of total revenue, indicating strong market demand[42]. - The electronic components segment contributed CNY 1.73 billion, accounting for 88.36% of total revenue, with a year-on-year growth of 25.72%[54]. - The electronic materials segment generated CNY 198.63 million, which is a decline of 24.86% from CNY 264.33 million in 2017, representing 10.13% of total revenue[54]. - Domestic sales amounted to CNY 1.30 billion, making up 66.56% of total revenue, with a growth of 13.76% year-on-year[57]. - International sales reached CNY 655.75 million, accounting for 33.44% of total revenue, reflecting a growth of 26.18% compared to the previous year[57]. Cash Flow and Investments - The net cash flow from operating activities decreased by 24.08% to approximately CNY 193.58 million in 2018 from CNY 254.98 million in 2017[26]. - Operating cash inflow totaled M2 1,449,484,965.55, a 15.28% increase compared to the previous year[73]. - The company’s investment activities resulted in a net cash outflow of M2 216,142,401.21, an improvement of 18.70% year-over-year[76]. - The total investment during the reporting period was ¥458,518,047.75, representing a 58.77% increase from ¥288,791,069.22 in the previous year[85]. - The company has a total of ¥5,559.15 million in idle funds that have been unused for over two years[85]. Production and Capacity Expansion - The company has increased its production capacity to meet rising market demand, particularly in strategic emerging industries such as 5G communications and new energy[6]. - The company is actively expanding its production capacity for supercapacitors and has made significant progress in various application fields including electric vehicles and renewable energy[52]. - The company plans to expand production capacity through ongoing projects, including the industrial capacitor technology upgrade project with a total investment of ¥8,000[89]. - The construction of new facilities led to a 289.65% increase in construction in progress, amounting to ¥117,188,100[43]. Research and Development - The company is investing in R&D to reduce consumption and improve recycling in response to stricter environmental regulations affecting material costs[6]. - Research and development expenses totaled M2 101,325,171.24, reflecting a 27.95% increase as the company intensified its R&D efforts[71]. - The company has initiated the development of supercapacitors, which are expected to enhance its product portfolio and market competitiveness[42]. - The company has established strategic alliances with international partners such as KEMET and ELNA to enhance its technological capabilities and market reach[51]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.80 per 10 shares, based on a total of 815,155,441 shares[9]. - In 2018, the cash dividend amounted to 65,212,435.28, representing 26.78% of the net profit attributable to ordinary shareholders[112]. - The cash dividend policy has been consistent, with no adjustments made during the reporting period[112]. - The company has committed to distributing cash dividends that are no less than 10% of the annual distributable profit and at least 30% of the average annual distributable profit over the last three years[120]. Legal and Regulatory Matters - There are ongoing arbitration proceedings involving a dispute with Suzhou Youpu regarding a share transfer agreement, with a claimed amount of RMB 90 million[128]. - The company is actively coordinating legal proceedings to protect its rights amid ongoing disputes[134]. - Suzhou Youpu's original shareholders have failed to fulfill their obligations under the transfer agreement, leading to arbitration initiated by the company to protect its legal rights[131]. - A lawsuit has been filed against Suzhou Youpu by Zhang Xue'e, the original actual controller's spouse, demanding payment of outstanding amounts and interest, with a court ruling rejecting all claims[132]. Shareholder Structure - The total number of shares before the recent changes was 815,155,441, with 6.71% being restricted shares and 93.29% being unrestricted shares[182]. - The largest shareholder, Yiwei Investment Co., Ltd., holds 31.84% of the shares, totaling 259,584,000 shares[187]. - The company has 25,310 common shareholders as of the end of the reporting period[187]. - The actual controller of the company is Hong Kong Yiwei Investment Co., Ltd., which has not changed during the reporting period[196]. Social Responsibility and Community Engagement - The company is committed to social responsibility, focusing on green development and community engagement, including employee health initiatives and charitable activities[172]. - The company has not been classified as a key pollutant discharge unit by environmental protection authorities[174]. - Nantong Jianghai Capacitor Co., Ltd. has actively participated in social activities, including blood donation and sports competitions, to foster community relations[172].