BL(SZ:002592)2020-07-31 16:00Financial Performance - The company's operating revenue for 2019 was ¥750,904,447.30, representing a 5.75% increase compared to ¥710,083,532.51 in 2018[17]. - The net profit attributable to shareholders was -¥406,482,396.56, a significant decrease of 5,687.88% from ¥7,274,361.39 in the previous year[17]. - The net cash flow from operating activities increased by 326.58% to ¥401,198,542.48, up from ¥94,049,610.90 in 2018[17]. - Total assets at the end of 2019 were ¥2,709,736,577.85, reflecting a 13.04% increase from ¥2,397,070,604.58 at the end of 2018[17]. - The net assets attributable to shareholders decreased by 21.84% to ¥1,454,434,370.40, down from ¥1,860,840,666.00 in 2018[17]. - The basic earnings per share for 2019 was -¥1.53, a decline of 5,200.00% from ¥0.03 in 2018[17]. - The diluted earnings per share also stood at -¥1.53, consistent with the basic earnings per share[17]. - The weighted average return on net assets was -24.52%, a decrease of 24.88% compared to 0.36% in 2018[17]. - The company reported a non-recurring loss of approximately ¥19.75 million for 2019, compared to a gain of ¥8.11 million in 2018[24]. - The company achieved total assets of CNY 2,709.74 million, a year-on-year increase of 13.04%[102]. - The company reported a net loss attributable to shareholders of CNY 406.48 million, a year-on-year decline of 5687.88%[102]. - Operating revenue for the year was CNY 750.90 million, representing a growth of 5.75% compared to the previous year[102]. Business Expansion and Diversification - The company expanded its business into the cell technology and health industry by acquiring 51% of Beijing Hongrun Tianyuan Gene Biotechnology Co., Ltd. in 2019[32]. - The company has established a diversified business strategy, including investments in automotive parts, cultural performance, and cell technology[27]. - The company has invested in subsidiaries in various locations, including Qingdao and Indonesia, to enhance its automotive parts manufacturing capabilities[30]. - The company has invested in Shenzhen Wangbo Smart Toilet Innovation Technology Co., acquiring a 20% stake, entering the ecological smart toilet market[45]. - The company holds a 22% stake in Dayaomawang Kehua Biotechnology Co., which specializes in the research and processing of industrial hemp products[46]. - The company is actively pursuing diversification into the health industry, cultural performance, new materials, and online gaming to mitigate risks associated with reliance on major clients[197][200]. Automotive Sector Performance - The automotive parts manufacturing remains the core business, with products widely used in traditional fuel vehicles and new energy vehicles[28]. - The company has formed stable strategic partnerships with major automotive manufacturers, including SAIC-GM-Wuling and Changan Automobile[29]. - The automotive sector accounted for ¥616,525,324.91, or 82.10% of total revenue, with a year-on-year growth of 4.04%[118]. - Sales revenue from automotive parts reached 616.53 million yuan, up 4.04% year-on-year, driven by new product introductions such as bumper installation brackets[91]. - The gross profit margin for the automotive sector decreased by 2.24% to 11.69%, despite a revenue increase of 4.04%[120]. - The operating cost for the automotive sector was ¥544,456,734.46, which is 85.80% of total operating costs, reflecting a year-on-year increase of 6.75%[123]. Research and Development - The company has a research and development team of 101 people, focusing on automotive thermal management systems[67]. - The company has established a comprehensive R&D system and quality assurance system, recognized as a provincial-level technology center[67]. - The company invested 21.53 million yuan in R&D for new product development and new technologies, maintaining a focus on innovation despite operational pressures[92]. - A total of 243 new products were developed during the reporting period, an increase of 23 compared to the previous year[93]. - The company applied for 17 patents during the year, including 5 invention patents and 12 utility model patents[93]. - The company has developed multiple core technologies in automotive thermal management systems, including advanced copper brazing technology and dual-wave structure technology, enhancing product performance and efficiency[72]. Challenges and Losses - The company faced challenges from economic slowdowns and increased market competition, prompting measures to optimize product structure and control costs[90]. - The company faced significant losses from its subsidiary, Impression Dinosaur Cultural Arts Co., Ltd., amounting to CNY 148.17 million due to the suspension of performances[104]. - The company recognized an impairment loss of CNY 20.27 million on goodwill related to the acquisition of Beijing Hongrun Tianyuan[107]. - The company reported a significant decline in revenue for Beijing Hongrun Tianyuan Biotechnology Co., Ltd., which was affected by the ongoing impact of the "920" incident from 2018, leading to a substantial drop in business performance in 2019[162]. - The company’s subsidiary, Beijing Hongrun Tianyuan Gene Biotechnology Co., Ltd., generated sales revenue of 30.06 million RMB and a net profit of 1.71 million RMB from June to December 2019[113]. Strategic Adjustments - The company plans to terminate the "Passenger Car Air Conditioning Condenser and Evaporator Production Line Project" due to the inability to achieve expected returns amid a slowdown in the domestic automotive industry and increased competition[162]. - The company aims to diversify its strategy to achieve business transformation by reallocating raised funds for equity acquisitions, targeting rapid entry into the health sector[162]. - The company is focusing on optimizing its strategic planning to ensure stable operational fundamentals amid external challenges[191]. - The company is enhancing its competitive edge through technological innovation and process optimization[192]. Cash Flow and Investments - The net cash flow from operating activities was ¥401,198,500, a 326.58% increase compared to the previous year, mainly due to asset replacement activities[138]. - The net cash flow from investing activities was -¥814,691,000, a 244.33% decrease year-on-year, largely due to reduced cash from maturing financial products[138]. - The company’s cash and cash equivalents decreased by 146.86%, resulting in a net decrease of ¥208,807,822.60[38]. - The company’s total investment during the reporting period was 1,004.71 million yuan, a significant increase of 3,066.93% compared to the previous year[151]. - The company reported a negative return of -239,410,000 CNY from its investment projects, indicating underperformance against expectations[155].