BOAMAX(SZ:002514)2019-04-24 16:00Financial Performance - The company's operating revenue for 2018 was ¥807,119,529.30, representing a 47.20% increase compared to ¥548,333,314.07 in 2017[16]. - The net profit attributable to shareholders for 2018 was ¥94,311,886.17, a significant increase of 137.63% from ¥39,687,902.55 in 2017[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥90,476,042.60, up 206.93% from a loss of ¥84,615,238.23 in 2017[16]. - The basic earnings per share for 2018 was ¥0.1702, an increase of 143.14% compared to ¥0.07 in 2017[18]. - The total assets at the end of 2018 were ¥1,871,605,306.67, reflecting a 17.11% increase from ¥1,598,127,593.35 at the end of 2017[18]. - The net assets attributable to shareholders at the end of 2018 were ¥944,959,029.61, a 9.79% increase from ¥860,673,663.08 at the end of 2017[18]. - The company reported a net cash flow from operating activities of ¥51,238,348.31, which is a 17.96% increase from ¥43,437,799.48 in 2017[16]. - The weighted average return on equity for 2018 was 10.39%, up from 4.71% in 2017, indicating improved profitability[18]. Revenue Segmentation - The smart manufacturing segment contributed CNY 614.07 million, accounting for 76.08% of total revenue, with a growth of 42.24%[41]. - The energy-saving and environmental protection segment saw revenue of CNY 193.05 million, marking a growth of 65.52%[41]. - The flexibility peak-shaving technology service revenue surged to CNY 126.06 million, up 2,027.62% year-on-year[42]. - The company achieved a gross margin of 29.59% in the smart manufacturing sector, which improved by 3.64% from the previous year[44]. - The sales volume in the smart manufacturing category increased by 18.08% to 7,588,400 units[46]. Innovation and Technology - The company has developed a zero-discharge electrochemical process technology for desulfurization wastewater, significantly reducing sludge volume and chemical costs[28]. - The company holds 5 invention patents and 37 utility model patents, demonstrating its commitment to innovation and competitive advantage in the market[32]. - The company has successfully developed and scaled production of wet processing equipment for solar silicon wafers, enhancing its core competitiveness in the semiconductor and photovoltaic industries[33]. - The company is actively expanding its laboratory capabilities and has applied for CNAS laboratory certification to support business growth[34]. Market Trends and Opportunities - The semiconductor equipment market in China reached $3.98 billion in Q3 2018, with a 5% quarter-over-quarter growth and a 106% year-over-year increase, making it the largest semiconductor equipment market globally[78]. - The photovoltaic industry continues to grow despite regulatory challenges, with production across all segments increasing year-over-year[77]. - The company is expanding into high-end intelligent equipment manufacturing, particularly in the photovoltaic and semiconductor sectors, to diversify its business[77]. - The industrial wastewater treatment market in China is projected to reach CNY 380 billion by the end of the "13th Five-Year Plan," with a current market size of CNY 842.84 billion, representing a year-on-year growth of 4.86%[82]. Corporate Governance and Compliance - The company ensures the independence of its operations, including management and financial decisions, from its actual controllers, Chen Dong and Wang Min[99]. - The company has committed to maintaining an independent financial accounting department and a separate financial management system[100]. - The company guarantees that it will not engage in any illegal occupation of its assets or funds by related parties[100]. - The company has established a commitment to avoid any conflicts of interest by not acquiring similar assets or businesses during its operation[100]. Human Resources and Employee Management - The total number of employees in the company is 1,385, with 707 in the parent company and 678 in major subsidiaries[195]. - The professional composition includes 853 production personnel, 76 sales personnel, 229 technical personnel, 24 financial personnel, and 203 administrative personnel[195]. - The educational background of employees shows 229 with a bachelor's degree or above, 280 with a college diploma, and 876 with education below college level[196]. - The company has developed a talent training and development system to enhance core competencies, including onboarding training for new employees and ongoing professional skills training[198]. Related Party Transactions - The company reported a total of 2,339.2 million yuan in related party transactions during the reporting period, with no transactions exceeding the approved limits[132]. - The company has no asset or equity acquisition or sale related party transactions during the reporting period[134]. - The company has a total of 11,340 million yuan in entrusted financial management, with a remaining balance of 300 million yuan[150]. Legal and Regulatory Matters - The company has initiated legal proceedings against the individual responsible for the performance compensation due to non-fulfillment of obligations[106]. - The court has ruled to dismiss the company's lawsuit, with total costs incurred amounting to 638,439 RMB, which the company must bear[106]. - The company has filed an appeal against the court's decision[106]. Shareholder Information - The controlling shareholders, Chen Dong and Wang Min, hold a total of 128.79 million shares, representing 23.24% of the total share capital, with 12.88 million shares pledged[161]. - The total number of shares outstanding is 554.03 million, with 29.97% being limited sale shares and 70.03% being unrestricted sale shares[165]. - The largest shareholder, Guangxun Co., Ltd., holds 15.16% of the shares, totaling 84,000,000 shares[171].