BOSHI(SZ:002698)2020-04-21 16:00Financial Performance - The company reported a historical high in operating performance during the reporting period, benefiting from continuous technological accumulation and product innovation [8]. - Harbin Boshi Automation Co., Ltd. reported a total revenue of 1.2 billion RMB for the year 2019, representing a year-on-year increase of 15% [23]. - The company's net profit attributable to shareholders reached 150 million RMB, an increase of 10% compared to the previous year [23]. - The company’s total revenue for 2019 reached approximately CNY 1.46 billion, representing a year-on-year growth of 59.43% [108]. - Net profit attributable to the parent company was approximately CNY 307 million, with a year-on-year increase of 68.67% [108]. - The company achieved a cash flow from operating activities of approximately CNY 352 million, up 57.50% year-on-year [108]. - The company's operating revenue for 2019 was CNY 1,459,741,076.77, representing a 59.43% increase compared to 2018 [34]. - The net profit after deducting non-recurring gains and losses was CNY 279,151,858.98, which is a 76.79% increase from the previous year [34]. - The gross profit margin for the petrochemical and chemical sector was 44.20%, reflecting a 5.29% increase from the previous year [114]. Dividend Distribution - The profit distribution plan approved by the board is a cash dividend of 1.80 RMB per 10 shares, based on a total of 1,022,550,000 shares [6]. - The cash dividend for 2019 amounted to 184,059,000 CNY, representing 59.93% of the net profit attributable to ordinary shareholders [199]. - The cash dividend for 2018 was 95,438,000 CNY, accounting for 52.42% of the net profit attributable to ordinary shareholders [199]. - The cash dividend for 2017 was 54,536,000 CNY, which was 42.10% of the net profit attributable to ordinary shareholders [199]. - The company has maintained a consistent cash dividend policy over the past three years, with clear and transparent decision-making processes [198]. - The company did not make any adjustments to its cash dividend policy during the reporting period [198]. - The company’s cash dividend policy aligns with the requirements of the company’s articles of association and shareholder resolutions [198]. - The independent directors fulfilled their responsibilities in overseeing the dividend distribution process [198]. - The company ensured that minority shareholders had ample opportunities to express their opinions and that their legal rights were adequately protected [198]. Market Expansion and Product Development - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in sales from this region by 2021 [23]. - New product development includes the launch of a fully automated packaging system, expected to contribute an additional 100 million RMB in revenue in 2020 [23]. - The company is focusing on the development of new products and technologies, particularly in the field of industrial waste acid regeneration equipment [56]. - The company plans to expand its market presence in the large intelligent complete equipment sector and environmental protection process equipment [48]. - The company is actively engaged in research and development of intelligent packaging and transfer equipment for polysilicon finished product workshops, indicating ongoing innovation efforts [81]. - The company is developing a new type of fully automated packaging and stacking equipment using PVC, aimed at reducing production costs and enhancing environmental protection [89]. - The company has successfully developed new applications and market introductions for environmental protection equipment due to increased national standards and enforcement efforts [68]. - The company is actively developing high-temperature special robots for various applications beyond the calcium carbide industry, showcasing its technological leadership [99]. Risk Management - The company faces medium to long-term risks regarding the sustainability of its "smart complete equipment" and "environmental process equipment" business model [8]. - The complexity of the chemical waste acid treatment and recycling process may pose risks to project timelines and revenue realization [15]. - The company is actively taking measures to mitigate major risk factors, including technology confidentiality and potential economic losses from intellectual property theft [16]. - The COVID-19 pandemic may cause short-term delays in project delivery and revenue recognition, impacting the overall performance in 2020 [12]. - The company warns investors of potential risks associated with long R&D cycles and market uncertainties in the high-end medical equipment sector [190]. Technological Innovation - The company emphasizes the importance of technological research and development for maintaining long-term competitiveness and market presence [9]. - The company has invested 50 million RMB in R&D for advanced robotics technology, aiming to enhance operational efficiency by 30% [23]. - The company has obtained 17 patents during the reporting period, including 4 invention patents and 13 utility model patents, enhancing its competitive advantage [103]. - The company has made significant advancements in energy-saving and emission-reduction projects, including investments in complex wastewater treatment and resource recycling [191]. - The company has successfully designed a prototype for an automated bagging machine, transitioning from manual to automated processes to reduce labor costs [84]. Contractual Agreements and Revenue Recognition - The company has signed significant contracts since acquiring the Austrian P&P company, with some revenue already confirmed from the environmental process equipment project [8]. - The total contract amount for the proprietary equipment and engineering design with China Petroleum Engineering Construction Co., Ltd. is CNY 54.541 million, with equipment delivered and revenue recognized [128]. - The total contract amount for the proprietary equipment and catalyst with Lanzhou Global Engineering Co., Ltd. is CNY 38.837 million, currently in trial operation [128]. - The total amount of sales from the top five customers is CNY 622.137 million, accounting for 42.62% of the annual total sales [139]. - The total amount of purchases from the top five suppliers is CNY 205.629 million, accounting for 21.62% of the annual total purchases [140]. Operational Efficiency and Cash Flow - The company reported a weighted average return on equity of 14.17%, indicating steady improvement in profitability [108]. - The total cash inflow from operating activities was ¥1,825,306,108.72, up 16.22% from the previous year [151]. - The company’s cash and cash equivalents decreased by ¥55,197,488.68, marking a 138.89% decline compared to the previous year [151]. - The total assets include cash and cash equivalents of ¥143,726,675.32, which is 3.56% of total assets [154]. - The company has 109 R&D projects ongoing, with a total R&D investment of ¥73,317,927.93 during the reporting period [146].