FORYOU(SZ:002906)2019-04-26 16:00Financial Performance - The company's operating revenue for 2018 was ¥3,468,780,535.04, a decrease of 16.73% compared to ¥4,165,848,008.29 in 2017[26]. - The net profit attributable to shareholders was ¥16,635,325.45, reflecting a significant decline of 94.06% from ¥280,050,410.85 in the previous year[26]. - The net profit after deducting non-recurring gains and losses was -¥18,884,266.26, a decrease of 107.41% compared to ¥254,847,669.30 in 2017[26]. - The net cash flow from operating activities was ¥76,846,653.03, down 55.30% from ¥171,899,142.77 in the previous year[26]. - The company's total assets at the end of 2018 were ¥4,546,900,638.10, a decrease of 4.50% from ¥4,760,970,982.60 at the end of 2017[26]. - The company reported a quarterly operating revenue of ¥986,023,813.41 in Q4 2018, showing a positive trend in revenue growth[31]. - In 2018, the company achieved a total revenue of CNY 3.469 billion, a decrease of 16.73% compared to the previous year[56]. - The net profit attributable to shareholders was CNY 16.64 million, down 94.06% year-on-year[53]. Business Segments - The automotive electronics segment generated revenue of CNY 1.841 billion, a decline of 25.31% from the previous year, primarily due to decreased sales of certain models and price reductions[58]. - The precision die-casting business saw revenue growth of 20.50%, reaching CNY 486 million, with new project introductions hitting a historical high[54]. - The precision electronic components segment reported revenue of CNY 791 million, down 15.36% year-on-year, as the market for optical disc drives continued to shrink[54]. - The LED lighting business generated CNY 234 million in revenue, a decrease of 16.47%, attributed to a shift towards higher value-added products[54]. - The company sold 3.49 million automotive electronic units, a decline of 17.08% compared to the previous year[60]. - Domestic revenue accounted for 60.27% of total revenue, while international revenue made up 39.73%, both showing declines of 16.33% and 17.34% respectively[58]. Research and Development - Research and development investment increased by 22.55% year-on-year, accounting for 10.45% of operating revenue[48]. - The company holds a total of 633 patents, including 158 invention patents, indicating strong innovation capabilities[48]. - Research and development expenses increased by 22.55% to ¥362,544,741.21, representing 10.45% of operating income[71]. - The number of R&D personnel decreased by 18.67% to 2,004, while the proportion of R&D personnel dropped to 32.39%[72]. Risks and Challenges - The company faces risks including reliance on the automotive industry, shrinking optical disc market, declining electronic product prices, exchange rate fluctuations, raw material price volatility, and Sino-US trade relations[7]. - The company is focusing on the automotive electronics industry, which is expected to grow due to national policies and the transformation of the automotive industry[101]. - The company faces risks related to its reliance on the automotive industry, which could impact growth if the sector slows down[112]. Cash Dividends and Shareholder Commitments - The company reported a total of 473,100,000 shares as the basis for profit distribution, with a cash dividend of 0.00 yuan per 10 shares[7]. - The company plans not to distribute any cash dividends for the year 2018, nor to issue bonus shares or convert capital reserves into share capital[123]. - The cash dividend payout ratio for 2017 was 42.23% of the net profit attributable to ordinary shareholders[126]. - The cash dividend payout ratio for 2016 was 30.51% of the net profit attributable to ordinary shareholders[126]. - The company has maintained a consistent cash dividend policy, emphasizing returns to investors[127]. Subsidiaries and Investments - The subsidiary Huizhou Huayang Multimedia Electronics Co., Ltd. reported a net profit of CNY 20,682,134.76, contributing over 10% to the company's net profit[99]. - The subsidiary Huizhou Huayang General Electronics Co., Ltd. reported a net loss of CNY 68,250,797.55, indicating challenges in the automotive electronics sector[99]. - The company established a wholly-owned subsidiary in Germany with an investment of €500,000 in December 2018[66]. - The company established a wholly-owned subsidiary in Frankfurt, Germany, with an actual investment of 500,000 euros, which will be included in the consolidated financial statements[167]. Legal and Compliance - The company has 11 unresolved litigation cases, with a total amount involved of 6,506,400 RMB, none exceeding 5 million RMB individually[172]. - The company reported no penalties or rectification situations during the reporting period[176]. - The integrity status of the company and its controlling shareholders is good, with no significant debts overdue or unfulfilled court judgments[177]. - The company has committed to fulfilling all promises made during the reporting period, including those related to shareholding and capital management[130]. Future Strategies - The company is advancing the construction of digital smart factories to enhance core competitiveness in line with Industry 4.0 and China Manufacturing 2025[49]. - The company plans to expand its automotive electronics product line to include smart cockpit products and advanced driver assistance systems, aiming for increased sales in these areas[108]. - The precision die-casting business will continue to implement a "quality-driven development" strategy, focusing on improving product quality and expanding into the European market[112]. - The company aims to enhance its competitiveness through market focus, customer development, and cost reduction strategies, particularly in the automotive electronics segment[108].