XZCE(SZ:002534)2020-03-30 16:00Financial Performance - The company's operating revenue for the year was ¥3,927,432,985.42, an increase of 9.95% compared to the previous year[26]. - The net profit attributable to shareholders was ¥366,123,625.55, representing a 49.99% increase year-over-year[26]. - The net profit after deducting non-recurring gains and losses was ¥234,719,273.09, a significant increase of 495.28% compared to the previous year[26]. - The net cash flow from operating activities was ¥905,182,039.62, up 76.08% from the previous year[26]. - The total assets at the end of the year amounted to ¥9,298,019,715.08, reflecting an increase of 11.49% compared to the end of the previous year[26]. - The company's basic earnings per share increased to ¥0.50, a rise of 51.52% from the previous year[26]. - The weighted average return on equity was 11.43%, up from 8.07% in the previous year[26]. - Operating profit reached 521.50 million CNY, up 48.14% compared to the previous year[55]. - The cash dividend amount for 2019 was CNY 295,706,340, which accounted for 80.77% of the net profit attributable to ordinary shareholders[148]. - The total cash dividend (including other methods) for 2019 reached CNY 421,594,332.35, representing 100% of the distributable profit[149]. Business Operations - The company reported a stable operational performance with no significant changes in its business model[24]. - The company continues to focus on energy-saving and environmental protection equipment, maintaining its position as a leading manufacturer in the waste heat boiler industry[40]. - The company achieved operating revenue of 3,927.43 million CNY, a year-on-year increase of 9.95%[55]. - New orders totaled 4.715 billion CNY, representing a 31.26% increase from the previous year, with new product orders at 904 million CNY, up 48%[60]. - The company successfully signed contracts for several high-profile projects, including an 800MW gas turbine combined cycle project in Iraq, enhancing its brand influence in the Middle East[56]. - The company is transitioning towards becoming a comprehensive solution provider for energy efficiency and environmental protection, focusing on both domestic and international markets[56]. Research and Development - Research and development expenses rose by 5.16% to CNY 196,820,475.57, indicating ongoing investment in innovation[79]. - The company invested CNY 196,820,475.57 in R&D in 2019, an increase of 5.16% from CNY 187,155,762.74 in 2018[89]. - R&D personnel increased to 530 in 2019, representing 25.35% of the total workforce, up from 488 and 23.44% in 2018, respectively[89]. - The company successfully developed a two-stage combustion gas turbine waste heat boiler with a maximum capacity of 180% of normal operating conditions, marking a significant advancement in technology[82]. - The company is actively involved in the development of large-capacity vertical waste incineration furnaces and new gasification technologies, aligning with national environmental protection policies[82]. Risk Management - The company acknowledges risks related to raw material price fluctuations, bad debts from accounts receivable, and market competition[4]. - The company faces risks from fluctuations in raw material prices, particularly steel, and plans to implement measures to stabilize procurement costs[129]. - The company is also addressing the risk of bad debts from accounts receivable by strengthening contract reviews and customer credit assessments[129]. - The company has implemented risk control measures for customer credit and accounts receivable management, resulting in a decrease in overdue receivables[132]. Corporate Governance - The accounting firm Tianjian CPA has been appointed for auditing, with partners Zhu Guogang and Xu Wensheng responsible for signing[25]. - The company has not engaged in any continuous supervision responsibilities during the reporting period[25]. - The company has not proposed a cash dividend distribution plan for the current reporting period despite having positive distributable profits[149]. - The company has adhered to its commitments regarding profit distribution and has strictly fulfilled its obligations[152]. Environmental Responsibility - The company is classified as a key pollutant discharge unit by the environmental protection department[199]. - The main pollutant emitted is sulfur dioxide, with an emission concentration of 44.55 mg/m³[199]. - The total discharge amount is 16.73 tons, with a permitted discharge amount of 420 tons[199]. - There are no instances of exceeding the discharge standards[199]. Market Expansion - The company is expanding its market presence in the Middle East, having successfully bid for the 800 MW combined cycle project in Iraq, marking its first project in the region[82]. - The company aims to expand its market share in the domestic and international natural gas power generation market, leveraging its position as a leader in waste heat boiler research[123]. - The company is focusing on enhancing its product line in the chemical fiber and petrochemical industries, providing optimal energy solutions to meet diverse customer needs[87]. Shareholder Engagement - The company plans to distribute a cash dividend of 4 RMB per 10 shares (including tax) based on the total share capital after deducting repurchased shares[5]. - The company has implemented an employee stock incentive plan, with 121 participants unlocking 3,515,400 shares, representing 20% of the total restricted stock and 0.48% of the company's total equity[167].