Northglass(SZ:002613)2020-04-27 16:00Financial Performance - The company's operating revenue for 2019 was CNY 1,094,668,741.78, representing a 7.81% increase compared to CNY 1,015,364,800.87 in 2018[16]. - The net profit attributable to shareholders decreased by 28.51% to CNY 26,628,355.65 from CNY 37,246,976.86 in the previous year[16]. - The net profit after deducting non-recurring gains and losses was CNY 8,337,412.73, a significant turnaround from a loss of CNY 95,001,963.51 in 2018, marking a 108.78% increase[16]. - The net cash flow from operating activities increased by 63.01% to CNY 52,789,457.82 from CNY 32,383,308.31 in 2018[16]. - The total assets at the end of 2019 were CNY 1,979,224,458.36, a slight increase of 0.98% from CNY 1,959,962,936.32 at the end of 2018[17]. - The net assets attributable to shareholders rose by 1.14% to CNY 1,500,261,452.44 from CNY 1,483,342,896.27 in 2018[17]. - The basic earnings per share decreased by 28.46% to CNY 0.0284 from CNY 0.0397 in the previous year[16]. - The weighted average return on net assets was 1.78%, down from 2.55% in 2018, reflecting a decrease of 0.77%[16]. - The company achieved a revenue of 1.095 billion yuan in 2019, representing a year-on-year growth of 7.81%[54]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, was 8.3374 million yuan, up 108.78% year-on-year[54]. - The total assets of the company reached 1.979 billion yuan, with net assets of 1.5 billion yuan and a debt-to-asset ratio of 19.75%[54]. Revenue Sources - The sales revenue from glass tempering equipment reached ¥455,115,300, representing a year-on-year increase of 28.65% and accounting for 41.58% of total revenue[27]. - The deep-processed glass products generated sales revenue of 482.55 million CNY, an increase of 14.75% year-on-year, accounting for 44.08% of the company's total revenue[34]. - The wind turbine segment achieved revenue of 120.12 million CNY, representing a year-on-year growth of 4.37%[32]. - Export revenue amounted to 416.08 million yuan, a year-on-year increase of 6.14%, accounting for 38.01% of total revenue[54]. Research and Development - The company has accumulated 283 patent authorizations, including 69 invention patents, 214 utility model patents, and 3 design patents, showcasing its strong R&D capabilities[45]. - The company invested in 48 R&D projects, including advanced technologies such as ultra-thin tempered glass and energy-saving glass, with a total R&D investment of ¥65,483,661.44[85]. - The company has allocated 500 million RMB for research and development in 2020, focusing on innovative glass solutions[172]. Market Position and Strategy - The company is positioned as a leading supplier in the glass deep-processing equipment and solutions market, with a complete industrial chain and strong innovation capabilities[38]. - The "Belt and Road" initiative has provided significant growth opportunities, with over 80% coverage in countries and regions along the route, enhancing the company's market presence[39]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by 2021[172]. - The company aims to enhance its technological innovation capabilities and promote manufacturing upgrades as part of its sustainable development strategy for 2020[115]. Operational Efficiency - The company reported a significant reduction in direct material costs for low-emission coated glass, which fell by 91.10% to ¥7,297,475.60 in 2019 from ¥81,996,986.70 in 2018[79]. - The company aims to reduce operational costs by 5% through improved efficiency measures in the upcoming fiscal year[172]. - The company has established a strong customer service model, ensuring rapid response times for technical support, with major issues addressed within 8 to 24 hours[37]. Environmental and Social Responsibility - The company emphasizes green production and has implemented various measures to enhance its environmental protection efforts[57]. - The average concentration of xylene emissions from the company's Luoyang operations is 2.1675 mg/m³, which complies with the national secondary standards for air pollutants[180]. - The company actively engages in social responsibility initiatives, including support for employees in need and community welfare programs[179]. - The company has established a one-on-one support program for children from impoverished families, focusing on both material and spiritual assistance[178]. Legal and Governance Issues - The company reported a significant legal dispute regarding the acquisition of Guangdong Beibo Electronic Glass Co., Ltd., with a claim for the return of 60 million yuan and compensation for a value loss of 38.74 million yuan[138]. - The company received a qualified audit opinion from the accounting firm due to uncertainties related to the legal proceedings, which could impact future profits[140]. - The board of directors acknowledged the audit report and is taking measures to mitigate any adverse effects on the company and its shareholders[140]. Shareholder and Financial Management - The company did not distribute cash dividends for three consecutive years, indicating a focus on reinvestment for growth[129]. - The company has a total of 82.14 million yuan raised through the issuance of ordinary shares, with 69.34 million yuan already utilized[101]. - The company has engaged in related party transactions amounting to 743.34 million RMB, which is 0.68% of the total transaction amount[151].