Der(SZ:002631)2020-04-27 16:00Financial Performance - The company's operating revenue for 2019 was CNY 1,797,629,581.61, representing a 1.66% increase compared to CNY 1,768,219,992.58 in 2018[16] - The net profit attributable to shareholders for 2019 was CNY 79,689,249.83, a decrease of 23.24% from CNY 103,817,689.56 in 2018[16] - The net cash flow from operating activities was CNY 68,430,477.29, down 72.16% from CNY 245,780,688.73 in the previous year[16] - The basic earnings per share for 2019 was CNY 0.12, a decline of 25.00% compared to CNY 0.16 in 2018[16] - Operating profit decreased by 25.19% to RMB 116.30 million compared to the previous year[41] - Net profit attributable to shareholders fell by 23.24% to RMB 79.69 million[41] - The home furnishing sector contributed RMB 1,774.41 million, accounting for 98.71% of total revenue, with a growth of 1.68%[43] - The new materials sector saw a revenue decline of 25.15%, totaling RMB 11.95 million, down from RMB 15.96 million[43] Assets and Liabilities - Total assets at the end of 2019 were CNY 3,383,999,635.99, an increase of 31.59% from CNY 2,571,712,118.63 at the end of 2018[18] - The net assets attributable to shareholders increased by 11.07% to CNY 1,842,766,135.12 from CNY 1,659,112,110.70 in 2018[18] - The company's cash and cash equivalents at the end of 2019 amounted to ¥1,308,755,197.72, representing 38.67% of total assets[66] - The total amount of funds raised by the company in 2019 was RMB 63,000 million, with a net amount of RMB 61,896.70 million after deducting issuance costs of RMB 1,103.30 million[80] - The remaining balance of the raised funds as of December 31, 2019, was RMB 44,110.14 million, which includes bank interest and financial product income of RMB 1,094.68 million[82] Cash Flow and Investments - The net cash flow from operating activities decreased by 72.16% to ¥68,430,477.29 compared to the previous year[61] - Total cash inflow from investment activities increased by 84.57% to ¥4,375,002,862.72, primarily due to an increase in bank wealth management funds[61] - Total cash inflow from financing activities surged by 320.82% to ¥715,950,940.00, mainly from the issuance of convertible bonds[61] - The net increase in cash and cash equivalents was ¥828,799,695.95, reflecting a significant increase of 277.41%[61] - The company reported a significant increase in cash outflow from financing activities, which rose by 376.63% to ¥112,121,020.89, mainly due to increased loan repayments and dividend payments[61] Research and Development - Research and development expenses rose by 40.46% to 28,534,896.73 yuan, indicating increased investment in innovation[58] - The number of R&D personnel increased by 2.31% to 221, with R&D investment amounting to 49,322,292.85 yuan, accounting for 2.74% of operating revenue[59] - The company aims to enhance its research and development capabilities in the graphene new materials sector, focusing on effective transformation of scientific achievements[101] - The company is investing 5% of its revenue into R&D for new technologies[158] Market Strategy and Expansion - The company has expanded its business scope to include the research, production, and sales of customized home furnishings and graphene-related products[16] - The company is transitioning its flooring business from a product supplier to a comprehensive flooring solution provider under the "318 plan" strategy[27] - The company is focusing on a "one-stop" retail model to cater to the needs of the 80s and 90s consumer demographic[39] - The company plans to explore potential mergers and acquisitions to strengthen its market position and diversify its portfolio[156] - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share within the next three years[165] Dividend and Profit Distribution - The company plans to distribute a cash dividend of CNY 0.60 per 10 shares to all shareholders[5] - The company aims to maintain a cash dividend payout ratio of at least 20% during profit distribution, considering its growth stage and significant capital expenditure[110] - The company reported a net profit of RMB 79,689,249.8 for 2018, with a cash dividend distribution of RMB 40,027,628.6, which was 38.56% of the net profit[110] Compliance and Governance - The company has not reported any discrepancies between international and Chinese accounting standards during the reporting period[19] - The company has not encountered any violations of commitments during the reporting period[116] - The company has made a commitment to adhere to relevant laws and regulations set by regulatory bodies[117] - The company has not engaged in any related party transactions during the reporting period[139] Industry Trends and Competition - The flooring industry in China has approximately 3,000 enterprises, with a total industry output value of around CNY 60 billion, indicating a competitive market landscape[92] - The custom home furnishing industry is experiencing rapid growth, with significant competition from both traditional furniture and home decoration sectors[93] - The graphene industry is positioned for growth, with China holding 75% of the world's graphite reserves and 72% of production, providing a competitive advantage[96] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10-15% driven by new product launches and market expansion[166] - The company plans to implement a new marketing strategy aimed at increasing brand awareness, with a budget increase of 25% for the upcoming year[196] - The company is exploring partnerships with technology firms to leverage new innovations in product offerings[194]