伟隆股份(002871) - 2019 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2019 was CNY 355,225,906.74, representing a 2.46% increase compared to CNY 346,704,773.62 in 2018[16] - The net profit attributable to shareholders decreased by 31.79% to CNY 52,983,867.54 from CNY 77,680,421.96 in the previous year[16] - The basic earnings per share fell by 32.84% to CNY 0.45, compared to CNY 0.67 in 2018[16] - The net profit after deducting non-recurring gains and losses was CNY 42,611,653.26, a decrease of 31.71% from CNY 62,400,470.01 in 2018[16] - The company achieved a net profit of ¥67,783,389.02 for the year 2019, with a profit distribution plan of ¥4.50 per 10 shares, totaling cash dividends of ¥52,524,900 (including tax) to shareholders[86] - The net profit attributable to ordinary shareholders for 2019 was CNY 52,524,900, representing a 99.13% increase compared to CNY 23,348,400 in 2018[89] - The company reported a total revenue of 80 million yuan for the fiscal year 2019, reflecting a year-on-year increase of 10%[96] Cash Flow and Investments - The net cash flow from operating activities surged by 344.97% to CNY 132,922,717.03, up from CNY 29,872,088.47 in 2018[16] - The total cash inflow from operating activities was ¥415,790,283.88, a year-on-year increase of 14.38%[60] - The net cash flow from investing activities decreased by 427.94%, resulting in a net outflow of ¥152,524,949.11 in 2019 compared to a net inflow of ¥46,510,422.06 in 2018[60] - The net increase in cash and cash equivalents was a decrease of 163.47%, totaling -¥44,270,506.98 in 2019 compared to an increase of ¥69,745,103.27 in 2018[60] - The company reduced the investment scale of the "Large Specifications and Special Purpose Valve Production Project" by CNY 99.23 million and allocated the surplus funds to the "New Valve Construction Project" for its subsidiary, Laizhou Weilon Valve Co., Ltd.[70] Assets and Liabilities - The total assets at the end of 2019 were CNY 799,909,010.24, a 1.89% increase from CNY 785,086,524.19 at the end of 2018[18] - The net assets attributable to shareholders increased by 6.67% to CNY 651,310,430.22 from CNY 610,558,766.49 in 2018[18] - The proportion of cash and cash equivalents to total assets decreased by 6.76%, from 14.78% in 2018 to 8.02% in 2019[63] - The proportion of accounts receivable to total assets decreased by 1.88%, from 10.28% in 2018 to 8.40% in 2019[63] - The proportion of inventory to total assets decreased by 3.62%, from 12.37% in 2018 to 8.75% in 2019[63] Market and Sales - The company’s export revenue accounted for 85.20% of total operating income in 2019, demonstrating a consistent reliance on international markets[29] - The company reported that over 85% of its revenue comes from exports, primarily to Europe, the United States, Asia, and Oceania, indicating a strong reliance on international markets.[77] - Domestic sales revenue reached ¥50,611,543.00, accounting for 14.25% of total revenue, up from 13.87% in 2018[46] - Sales of valves generated ¥299,719,900.54, which is 84.37% of total revenue, showing a decrease of 0.62% from the previous year[46] Research and Development - Research and development expenses increased by 92.05% to ¥21,350,293.92, representing 6.01% of total operating revenue[57][59] - The number of R&D personnel rose to 61, an increase of 7.02% from 57 in 2018[58] - The company is investing 50 million RMB in research and development to improve product quality and efficiency[158] Corporate Governance and Compliance - The company has been recognized as an A-level enterprise for information disclosure quality by the Shenzhen Stock Exchange[42] - The company has committed to maintaining the integrity of its management and has fulfilled its commitments to minority shareholders[106] - The company has complied with all relevant governance regulations without any significant discrepancies noted by regulatory authorities[172] Risk Management - The company emphasizes the importance of risk control and internal governance to navigate market risks associated with international trade policies and market expansion.[76] - The company faces risks related to the stability of product quality, which is critical for customer trust and market reputation[79] - The company is exposed to foreign exchange risks due to fluctuations in the RMB/USD exchange rate, affecting its export revenues[80] Employee and Management - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 3.4343 million[163] - The company employed a total of 725 staff, with 438 in production, 42 in sales, and 101 in technical roles[167] - The remuneration for the chairman and director, Fan Qingwei, was CNY 552,700, while the general manager, Li Huajun, received CNY 517,700[164] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion RMB[158] - New product development is underway, with three innovative valve products expected to launch in Q2 2024, aimed at expanding market share[158] - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in sales in that region over the next two years[158]