huasi(SZ:002494)2020-04-07 16:00Financial Performance - The company's operating revenue for 2019 was ¥477,180,890.26, a decrease of 4.83% compared to ¥501,372,545.93 in 2018[18]. - The net profit attributable to shareholders for 2019 was ¥16,889,774.02, showing a slight increase of 0.15% from ¥16,865,311.45 in 2018[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥9,438,931.67, a significant increase of 20,608.20% compared to ¥45,580.65 in 2018[18]. - The total profit for the year was ¥18,462,554.28, representing an increase of 20.46% year-over-year[37]. - The total assets at the end of 2019 were ¥2,537,326,536.18, a decrease of 0.99% from ¥2,562,789,231.73 at the end of 2018[18]. - The net assets attributable to shareholders decreased by 1.88%, amounting to ¥1,893,534,099.42 at the end of 2019, down from ¥1,929,900,432.57 in 2018[18]. - Basic earnings per share for 2019 were ¥0.0445, an increase of 1.83% from ¥0.0437 in 2018[18]. - The weighted average return on net assets was 0.89% in 2019, slightly up from 0.88% in 2018[18]. - The net cash flow from operating activities improved by 21.78%, reaching -¥156,755,682.89 in 2019, compared to -¥200,413,922.92 in 2018[18]. - The company received government subsidies amounting to ¥6,292,607.20 in 2019, up from ¥4,627,779.47 in 2018[23]. Revenue Breakdown - OBM revenue decreased by 8.84% to ¥187,423,180.87, while ODM revenue fell by 18.04% to ¥131,869,324.47[42]. - OEM revenue saw a significant decline of 53.93%, dropping to ¥9,397,560.05 from ¥20,396,902.85[40]. - Other business income increased by 29.72% to ¥148,490,824.87, compared to ¥114,473,287.96 in 2018[40]. - Domestic sales accounted for ¥235,348,223.19, a decrease of 13.48% from ¥272,011,154.13 in the previous year[40]. - Export sales decreased by 18.75% to ¥93,341,842.20, down from ¥114,888,103.84[40]. - The revenue from fashion products increased by 35.14% to ¥23,816,226.93, while the revenue from fur clothing decreased by 18.12% to ¥199,379,997.32[40]. Research and Development - The company implemented six R&D projects in 2019, focusing on innovative techniques in fur processing and dyeing, enhancing its technological capabilities[29]. - The company holds a total of 24 patents, reflecting its commitment to innovation and market competitiveness[29]. - Research and development expenses amounted to ¥13,919,734.14, which is 2.92% of the operating revenue, showing a 1.57% increase compared to the previous year[54]. - The number of R&D personnel decreased by 11.85% to 119, while the proportion of R&D personnel increased to 11.60%[54]. Strategic Initiatives - The establishment of the Huasi Fur Town aims to create a high-end service platform, enhancing the overall value chain in the fur industry[28]. - The company has built an international fur trading platform to modernize and streamline the traditional fur trading process[28]. - The company has formed strategic partnerships with leading domestic and international brands to enhance its competitive edge in design and production[36]. - The company is focused on increasing its investment in technology and intellectual property to maintain industry leadership over the next three to five years[37]. - The company plans to enhance its domestic sales efforts and establish a marketing system to promote its two brands, "Wasi" and "Yijiaqi"[69]. - The company aims to expand its international market presence, focusing on Europe, Russia, the United States, Japan, and South Korea, which are key markets for its products[69]. - The company is developing an online sales channel to leverage e-commerce platforms for resource expansion[70]. - The company is constructing the "Wasi Fur Town," covering an area of 5,000 acres, to promote industry cluster development and enhance market competitiveness[72]. - The company will invest in product design and collaborate with influential designers to ensure its products align with fashion trends[73]. - The company plans to enhance its production processes by implementing green and sustainable practices, including zero wastewater discharge[74]. Corporate Governance - The company has established a comprehensive quality management system to ensure product quality through a three-tier quality control system[74]. - The company emphasizes a comprehensive internal control system based on its articles of association to protect the rights of all shareholders and creditors[121]. - The company has maintained its accounting firm, Daxin Certified Public Accountants, for 11 consecutive years[100]. - The company has established a robust internal audit system to ensure effective internal control over daily operations[178]. - The company has a dedicated investor relations management system to facilitate communication with investors[178]. - The company has not reported any changes in the management team during the current reporting period[158]. - The board includes members with significant experience in international markets and trade, enhancing the company's strategic direction[155]. Shareholder Information - The total number of shareholders at the end of the reporting period was 48,138, an increase from 45,136 at the end of the previous month[139]. - The largest shareholder, He Guoying, holds 31.31% of the shares, amounting to 30,180,093 shares[140]. - The second largest shareholder, Shanghai Textile Investment Management Co., holds 1.71% with 6,581,354 shares[140]. - The company did not experience any changes in its controlling shareholder during the reporting period[142]. - The company has maintained a stable shareholder structure with no new strategic investors entering the top ten shareholders[141]. Environmental Compliance - The company is classified as a key pollutant discharge unit and has implemented measures to ensure compliance with pollution discharge standards[127]. - The company has established a comprehensive wastewater treatment facility with a processing capacity of 1,600 m³/d, utilizing advanced treatment technologies[128]. - The company has obtained a pollution discharge permit and has consistently met discharge standards during the reporting period[129]. Employee Management - The total number of employees in the company is 1,229, with 1,026 in the parent company and 203 in major subsidiaries[168]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounts to 161.06 million yuan[167]. - The company conducts annual training plans to enhance the skills and management levels of employees[171].