远大智能(002689) - 2019 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2019 was approximately ¥809.75 million, a decrease of 34.42% compared to ¥1.23 billion in 2018[17]. - The net profit attributable to shareholders was a loss of approximately ¥107.19 million, representing a decline of 1,245.90% from a profit of ¥9.35 million in 2018[17]. - The net cash flow from operating activities was negative at approximately ¥37.82 million, a decrease of 173.79% compared to a positive cash flow of ¥51.25 million in 2018[17]. - The total assets at the end of 2019 were approximately ¥2.12 billion, down 10.79% from ¥2.38 billion at the end of 2018[17]. - The net assets attributable to shareholders decreased by 5.10% to approximately ¥1.30 billion from ¥1.37 billion in 2018[17]. - The basic earnings per share for 2019 was -¥0.1027, a decline of 1,241.11% from ¥0.0090 in 2018[17]. - The weighted average return on equity was -8.14%, down from 0.58% in 2018, indicating a significant decline in profitability[17]. - The total operating revenue for 2019 was ¥809,748,619.29, a decrease of 34.42% compared to ¥1,234,810,702.22 in 2018[53]. - The elevator segment generated ¥765,230,184.82, accounting for 94.50% of total revenue, with a year-on-year decline of 25.93%[53]. - The revenue from the wind power segment plummeted by 98.95%, from ¥105,769,048.42 in 2018 to ¥1,112,252.06 in 2019[53]. Business Strategy and Market Position - The company plans not to distribute cash dividends or issue bonus shares for the year[5]. - The company aims to enhance its market service capabilities and expand into the elevator installation and maintenance market, particularly focusing on retrofitting old buildings[47]. - The company is committed to continuous innovation and aims to create a national-level enterprise technology center to enhance its R&D strength[38]. - The company is focused on expanding its market presence in the elevator and wind power sectors, leveraging its engineering expertise[180]. - The company has a diverse product range in the elevator business, with 16 series and 18 models of vertical elevators and 7 series and 22 models of escalators and moving walkways[26]. - The company’s wind power business includes wind turbine generators with capacities of 1.5MW, 2.0MW, 2.5MW, and 3.0MW, primarily used in large wind farms[29]. - The company signed new orders worth 1.303 billion yuan in 2019, with a total backlog of 1.581 billion yuan as of the end of the year, providing a foundation for future growth[46]. - The company is investing in smart elevator technologies, including contactless solutions, in response to the COVID-19 pandemic[35]. - The company aims to increase elevator sales and enhance maintenance service capabilities, targeting a transition from a manufacturing to a technology service-oriented enterprise[82]. Research and Development - The company holds a total of 68 patents in the elevator and industrial robot sectors, including 14 invention patents, demonstrating strong R&D capabilities[38]. - The company launched several R&D projects, including the "flat belt traction elevator" and "large-span horizontal automatic walkway" as part of the Liaoning provincial science and technology plan[49]. - The company has invested 50 million yuan in research and development for new technologies in the past year, aiming for a 30% increase in R&D efficiency[187]. - The company is actively involved in research and development, particularly in the fields of power electronics and wind energy technology[180]. - The company has a total of 223 R&D personnel in 2019, a decrease of 14.89% from 262 in 2018[68]. Risks and Challenges - The company faces risks from economic fluctuations in downstream industries, particularly real estate and infrastructure, which could impact its operations[86]. - The company acknowledges the risks associated with technology R&D, including high costs and long development cycles, and aims to align R&D projects with market needs[87]. - The company is exposed to raw material price volatility risks and plans to mitigate this by signing annual procurement agreements and exploring new business opportunities[87]. - The COVID-19 pandemic has adversely affected the company's procurement, production, and sales, particularly in overseas markets such as Singapore, India, North America, and Africa, with the extent of the impact still difficult to estimate[88]. Corporate Governance and Shareholder Relations - The company has a profit distribution policy that aims to enhance transparency and protect investors' rights, with a three-year dividend plan approved for 2019-2021[92]. - The company has committed to avoiding competition with its controlling shareholder and has established agreements to prevent conflicts of interest[99]. - The company reported a commitment from its controlling shareholder, YD Aluminum Group, to avoid any direct or indirect competition with Bolinte Co., ensuring no competitive activities will occur in China or abroad[101]. - The company has established a priority right for Bolinte Co. to acquire any potential competitive businesses or assets from YD Aluminum Group within 30 days of notification[100]. - The company has maintained the same accounting firm, Zhongzheng Huacai Accounting Firm, for 7 consecutive years, with an audit fee of CNY 650,000[111]. Employee Development and Training - The company organized a total of 194 training sessions, with approximately 2,484 participants, to enhance employee skills and knowledge[140]. - The company has established an internal talent pool and shifted training methods to a "knowledge cloud" model to enhance employee learning capabilities[193]. - The total remuneration for the board of directors and senior management during the reporting period is ¥475.56 million[191]. - The company maintains a competitive and market-oriented compensation system based on job value and performance assessment[192]. Environmental and Social Responsibility - The company maintains a commitment to environmental protection, adhering to ISO 14001 standards and implementing various environmental management systems[144]. - The company has successfully implemented an environmental management system, with no incidents of sudden environmental pollution reported[148]. - The company adheres to various environmental protection laws and has established emergency response plans for environmental incidents[148]. Legal and Compliance Matters - The company has ongoing litigation against Heilongjiang Zhongtai Real Estate for overdue elevator payments amounting to ¥1.9 million, with a ruling in favor of the company and awaiting enforcement[112]. - The company has a claim against Guangxi Rongyushengchang Real Estate for overdue payments totaling ¥3.7269 million, which has been executed successfully[112]. - The company has not faced any penalties or corrective actions during the reporting period[115]. - The company has not reported any violations regarding external guarantees during the reporting period[133].