Anjie(SZ:002635)2020-04-29 16:00Financial Performance - The company's operating revenue for 2019 was ¥3,136,135,980.79, a decrease of 11.76% compared to ¥3,554,259,001.14 in 2018[6]. - The net profit attributable to shareholders of the listed company was -¥650,033,035.76 in 2019, representing a decline of 218.73% from ¥547,493,479.18 in 2018[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥1,986,170,819.30, a decrease of 756.27% compared to -¥231,956,365.58 in 2018[6]. - The total assets at the end of 2019 were ¥6,930,388,247.25, down 21.21% from ¥8,795,722,620.57 at the end of 2018[6]. - The net assets attributable to shareholders of the listed company decreased by 18.22% to ¥5,683,906,713.85 from ¥6,949,954,083.77 at the end of 2018[6]. - The company reported a basic earnings per share of -¥0.92 in 2019, a decline of 226.03% from ¥0.73 in 2018[6]. - The gross profit margin for the main business was 26.59%, with a decrease of 3.43% compared to the previous year[73]. - The company reported a significant increase in asset impairment losses, which rose by 364.50% year-on-year, mainly due to provisions for goodwill and fixed asset impairments[101]. Cash Flow and Investments - The net cash flow from operating activities increased by 91.69% to ¥998,455,508.34 from ¥520,871,461.64 in 2018[6]. - The net cash flow from investing activities decreased by 95.68% year-on-year, mainly due to increased fixed asset investment expenditures and higher investment in financial products[99]. - The net cash flow from financing activities increased by 24.54% year-on-year, primarily due to a reduction in payments for financing lease contracts as they matured[101]. - The total cash and cash equivalents decreased by 45.53% year-on-year, indicating a net decrease of 300,547,415.01 yuan[98]. - The company’s total investment during the reporting period was ¥308,386,895.68, a significant decrease of 61.64% compared to ¥803,833,800.00 in the same period last year[115]. Shareholder Returns and Dividends - The company plans to not distribute cash dividends, issue bonus shares, or increase capital using reserves for the year[7]. - The company implemented a cash dividend policy, distributing RMB 1.00 per 10 shares for the years 2017 and 2018, while not distributing any dividends in 2019[176][177]. - The company did not propose any cash dividends or capital reserve transfers in 2019, indicating a focus on retaining earnings[180]. - The company’s independent directors fulfilled their responsibilities, ensuring that minority shareholders had opportunities to express their opinions[176]. Business Development and Strategy - The company reported a continuous growth in the precision functional components business for consumer electronics, with an expansion into metal precision structural components, new energy vehicles, new materials, and 5G communications[29]. - The company has been expanding its product offerings in the consumer electronics sector, including precision functional components and modules for smart devices[44]. - The company is enhancing its manufacturing capabilities by introducing advanced automated production lines and AOI inspection equipment[45]. - The company aims to capture the market opportunities presented by the large-scale commercialization of 5G, anticipating a surge in demand for 5G smartphones and related components[153]. - The company plans to expand its production capacity by constructing or expanding five factories in 2020 to support new business developments[159]. Risks and Challenges - The company faces macroeconomic volatility risks due to uncertainties in the domestic and international environment, including external economic friction and the COVID-19 pandemic[165]. - To mitigate intensified market competition risks, the company will optimize product structure, enhance product quality, and develop emerging products to maintain competitiveness[166]. - Management risks are heightened due to the expansion of subsidiaries, necessitating improved management efficiency and organizational structure[167]. - The company is exposed to exchange rate fluctuation risks as it expands its international business, which may impact operating performance[168]. Acquisitions and Subsidiaries - The company added four subsidiaries to its consolidated financial statements during the reporting period, enhancing its operational scope[86]. - The company acquired 100% equity of Suzhou Baozhi for RMB 9,257,633.02, completing the registration in January 2019[66]. - The company also acquired 100% equity of Chongqing Dahao Electronics for RMB 13,585,000, with the registration completed in October 2019[66]. - Suzhou Baozhi Construction Development Co., Ltd. was acquired for 130 million RMB and included in the consolidated financial statements from February 2019[199]. - Chongqing Dahao Electronics Co., Ltd. was acquired for 6 million RMB and included in the consolidated financial statements from October 2019[199]. Research and Development - Research and development expenses increased by 6.34% to 214,673,341.38 CNY in 2019, accounting for 6.85% of operating income[97]. - The company plans to increase R&D investment to enhance product innovation and ensure the launch of high-value, high-quality new products, thereby improving competitive advantage and sustainable development[160]. - The number of R&D personnel decreased by 12.10% to 777, while the proportion of R&D personnel increased to 12.16%[97]. Compliance and Governance - The financial report ensures the accuracy and completeness of the financial data presented, with the responsible parties affirming their accountability[5]. - The company has commitments related to share restrictions and profit compensation obligations that are currently being fulfilled[181]. - The company is actively managing its commitments to ensure compliance and mitigate risks associated with performance shortfalls[191].