同兴达(002845) - 2018 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2018 was CNY 4,095,390,344.80, representing an increase of 11.78% compared to CNY 3,663,651,804.41 in 2017[6]. - The net profit attributable to shareholders decreased by 34.27% to CNY 98,086,403.19 from CNY 149,215,405.65 in the previous year[6]. - The total profit was 113.62 million yuan, a decrease of 35.04% year-on-year, while the net profit attributable to shareholders was 98.09 million yuan, down 34.27%[43]. - The company reported a significant drop in net profit after deducting non-recurring gains and losses, which fell by 50.83% to CNY 53,137,432.94[6]. - Total assets increased by 45.05% to CNY 4,536,510,953.38 from CNY 3,127,537,030.46 in 2017[6]. - The weighted average return on equity decreased to 9.43% from 17.52% in the previous year, indicating a decline in profitability[6]. - The company achieved total revenue of 4,095.39 million yuan, an increase of 11.78% compared to the same period last year[43]. - The revenue from touch-integrated modules surged by 70.72% to ¥2,400,619,347.63, while LCM display module revenue decreased by 27.58% to ¥1,612,218,941.18[49]. - The company reported a total revenue of 1,315,434,442.81 CNY for the year 2018, reflecting a significant increase compared to the previous year[122]. Cash Flow and Investments - The net cash flow from operating activities significantly improved by 482.17%, reaching CNY 416,490,440.88 compared to CNY 71,541,386.27 in 2017[6]. - Operating cash inflow increased by 36.12% to ¥3,880,586,732.65, while operating cash outflow rose by 24.64% to ¥3,464,096,291.77, resulting in a net cash flow from operating activities of ¥416,490,440.88, up 482.17%[65]. - Investment cash inflow surged by 43,390.23% to ¥206,938,752.61, while investment cash outflow increased by 40.15% to ¥449,076,841.24, leading to a net cash outflow from investment activities of ¥242,138,088.63[65]. - The company raised a total of RMB 383.76 million from the issuance of 24 million shares at RMB 15.99 per share, with a net amount of RMB 343.54 million after deducting issuance costs of RMB 40.22 million[76]. - The company committed RMB 34.35 million to investment projects, with a cumulative investment of RMB 33.19 million, achieving an investment progress of 96.64%[79]. Dividend Policy - The company reported a profit distribution plan to distribute a cash dividend of 0.50 CNY per 10 shares, based on a total of 202,090,368 shares[4]. - In 2018, the company plans to distribute a cash dividend of 0.5 yuan per 10 shares, totaling 10,104,518.4 yuan, which represents 10.30% of the net profit attributable to ordinary shareholders[112]. - The total cash dividend represents a commitment to returning value to shareholders, reinforcing investor confidence[114]. - The company's cash dividend distribution policy ensures continuity and stability, protecting the rights of minority investors[108]. Operational Stability and Growth - The company has not changed its main business since its listing, indicating stability in its operations[16]. - The company established stable long-term cooperation with major domestic smartphone brands such as Huawei, OPPO, and Vivo, contributing to over 75% of its operating revenue[28]. - The company completed the construction and trial production of the ON-CELL project production base in Ganzhou, significantly improving production capacity and reducing unit product costs[44]. - The company is focusing on enhancing the competitiveness of its products, with a significant increase in the proportion of full-lamination modules and a strong layout in the comprehensive screen product segment[45]. - The company is actively developing camera module products, which are expected to become an important new profit point[44]. Risk Management - The company emphasizes the importance of risk awareness regarding operational risks, industry competition, technological updates, and exchange rate risks[5]. - The company is facing competition risks from both specialized LCD module manufacturers and large upstream manufacturers, which may impact future revenue and profitability[97]. - The company has a high inventory ratio, which could negatively impact liquidity if customers face operational issues[102]. - The company has implemented an order-based production model to mitigate raw material price fluctuation risks, but still faces potential impacts from price increases[100]. - The company has a stable management team and core technical personnel, but faces risks related to talent retention as it continues to grow[103]. Research and Development - Research and development expenses amounted to 97,664,081.33 CNY, indicating the company's commitment to innovation and technology development[124]. - The company has developed several advanced technologies, including integrated touch display technology and AMOLED, with mass production capabilities established for its full-screen and In-cell products[63]. - The company is investing in the construction of fully automated production lines and developing multiple full-screen products to attract new high-quality customers[86]. - The company plans to enhance its competitive edge by establishing a research and development center and improving production efficiency and capacity[92]. Corporate Governance - The company has maintained compliance with all regulatory commitments, ensuring transparency and accountability in its operations[115]. - The company has been actively involved in the appointment of independent directors, such as Zhu Yan and Meng Xiaojun, to strengthen governance[186][189]. - The management team is committed to enhancing corporate governance through the appointment of independent directors across various sectors[189]. - The company has not faced any penalties from securities regulatory agencies in the past three years, indicating a stable compliance record[189]. Employee Relations - The company has established an employee care fund to support employees in need and enhance employee cohesion[147]. - The company has committed to ongoing employee welfare initiatives, including providing job opportunities and vocational training for disadvantaged groups[151]. - The company has established a comprehensive training program for employees, assessing training effectiveness annually[196]. - The company employed a total of 5,386 staff, with 4,763 in production, 508 in technical roles, and 34 in sales[193].