huasi(SZ:002494)2019-02-25 16:00Financial Performance - The total revenue for 2018 was CNY 501,372,545.93, representing a decrease of 20.91% compared to CNY 633,958,377.28 in 2017[17]. - The net profit attributable to shareholders was CNY 16,865,311.45, a significant increase of 122.35% from a loss of CNY 75,446,522.59 in 2017[17]. - The net profit after deducting non-recurring gains and losses was CNY 45,580.65, improving by 100.05% from a loss of CNY 82,886,039.98 in the previous year[17]. - The basic earnings per share for 2018 was CNY 0.0437, compared to a loss of CNY 0.1957 in 2017, marking an increase of 122.33%[17]. - The total profit for the year was ¥15,327,159.30, an increase of 122.15% from the previous year[35]. - The company reported a total distributable profit of 420,506,533.63 yuan for the year[88]. Assets and Liabilities - The total assets at the end of 2018 were CNY 2,562,789,231.73, a decrease of 3.89% from CNY 2,666,630,227.83 at the end of 2017[17]. - The net assets attributable to shareholders increased by 0.91% to CNY 1,929,900,432.57 from CNY 1,912,459,057.60 in 2017[17]. - The total inventory balance as of December 31, 2018, was CNY 566,773,071.58, representing 22.12% of the total assets[193]. Cash Flow - The net cash flow from operating activities was negative at CNY -200,413,922.92, a decline of 188.93% compared to CNY 225,360,496.89 in 2017[17]. - Operating cash inflow decreased by 22.12% to ¥650,078,689.14, while cash outflow increased by 39.58% to ¥850,492,612.06, resulting in a net cash flow of -¥200,413,922.92[51]. - Investment cash inflow surged by 647.36% to ¥54,606,548.10, while cash outflow increased by 1,370.74% to ¥92,380,304.63, leading to a net cash flow of -¥37,773,756.53[51]. - Financing cash inflow increased by 27.25% to ¥342,680,849.53, with cash outflow decreasing by 16.85% to ¥317,717,327.41, resulting in a net cash flow of ¥24,963,522.12[51]. Revenue Segmentation - The OBM segment generated ¥205,605,648.56, accounting for 41.01% of total revenue, down 40.11% from the previous year[38]. - The ODM segment saw revenue of ¥160,896,706.56, representing 32.09% of total revenue, with a year-over-year increase of 43.56%[38]. - Domestic sales increased by 29.08% to 272,011,154.13 CNY, while export sales decreased by 57.73% to 114,888,103.84 CNY[41]. - The revenue from fur clothing was 243,490,728.01 CNY, with a gross profit margin of 30.59%[41]. - The company reported a significant decrease in revenue from fur skins, down 61.51% to 60,496,126.52 CNY[41]. Research and Development - The company implemented six R&D projects in 2018, focusing on various innovative techniques in fur processing[28]. - The company holds 23 patents, emphasizing its commitment to technological innovation and market share expansion[28]. - Research and development expenses increased by 4.90% to ¥13,703,940.32, which is 2.73% of operating revenue[50]. - The number of R&D personnel rose by 37.76% to 135, while the proportion of R&D personnel remained relatively stable at 10.11%[50]. Strategic Initiatives - The company plans to distribute a cash dividend of CNY 0.10 per 10 shares, based on a total of 385,560,818 shares[5]. - The company aims to enhance its technological innovation and market share over the next three to five years by increasing investment in R&D and strengthening intellectual property rights[49]. - The company plans to expand its market presence and enhance product offerings through strategic acquisitions and new technology development[44]. - The company intends to introduce high-quality foreign mink breeds to improve domestic breeding standards and increase farmers' income[74]. Environmental and Social Responsibility - The company adheres to the principle of "safety first, environmental protection first" and aims for low consumption and low emissions[121]. - The company has established a comprehensive environmental monitoring plan that includes both automatic and manual monitoring of pollutant emissions[126]. - The company has received no major environmental violations during the reporting period, indicating effective pollution control measures[125]. - The company has implemented a poverty alleviation program with various initiatives, although specific numerical outcomes were not disclosed[122]. Governance and Compliance - The company has a robust internal audit system in place to oversee daily operations and ensure effective internal controls[167]. - The company emphasizes transparent information disclosure, providing equal access to information for all shareholders[167]. - The audit opinion issued was a standard unqualified opinion, confirming that the financial statements fairly reflect the company's financial position[189]. - The company has maintained strict compliance with commitments to avoid competition from its controlling shareholders[90]. Shareholder Information - The company reported a cash dividend of 0.1 yuan per 10 shares for 2018, with a payout ratio of 22.86% of the net profit attributable to shareholders[86]. - The largest shareholder, He Guoying, holds 31.31% of the shares, amounting to 120,720,331 shares[133]. - The company has a total of 385,560,818 shares outstanding, with 76.52% being unrestricted shares[131]. - The company did not engage in any major related party transactions during the reporting period[106].