JOINTAS(SZ:002909)2019-04-28 16:00Financial Performance - In 2018, the company achieved a revenue growth of over 100 million RMB despite facing significant challenges, including the impact of US-China trade tensions and increased environmental regulations[14]. - The net profit saw a substantial decline, prompting the decision for no salary increases for all directors and senior management[14]. - The company's operating revenue for 2018 was ¥932,619,991.10, representing a 16.26% increase compared to ¥802,168,660.20 in 2017[22]. - The net profit attributable to shareholders for 2018 was ¥18,742,029.22, a decrease of 58.57% from ¥45,243,042.36 in 2017[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥8,197,039.22, down 79.82% from ¥40,629,376.57 in 2017[22]. - The net cash flow from operating activities increased by 46.87% to ¥108,396,500.40 in 2018 from ¥73,802,677.00 in 2017[22]. - The total assets at the end of 2018 were ¥877,576,296.85, a 6.44% increase from ¥824,499,897.91 at the end of 2017[23]. - The net assets attributable to shareholders decreased by 4.87% to ¥461,152,996.86 at the end of 2018 from ¥484,770,120.70 at the end of 2017[23]. - The basic earnings per share for 2018 was ¥0.110, a decrease of 67.65% from ¥0.340 in 2017[22]. - The weighted average return on equity for 2018 was 3.93%, down 12.76% from 16.69% in 2017[22]. - The overall gross margin for main business products decreased by 4.54% compared to the previous year[51]. - The company's production volume was 69,971.65 tons, an increase of 7.04% compared to the previous year[58]. - The company reported a total revenue of 3,181.3 million in 2018, with a year-on-year increase of 16.69%[165]. - The company achieved a net profit of 626.78 million, representing a growth of 23.20% compared to the previous year[165]. Dividend Distribution - The company plans to distribute a cash dividend of 1.50 RMB per 10 shares (including tax) based on the total share capital on the dividend record date[4]. - The total cash dividend distributed to shareholders for 2018 was RMB 25,200,000, with an additional RMB 12,886,181.60 from other methods, totaling RMB 38,086,181.60[108]. - The cash dividend per 10 shares is set at RMB 1.50 (including tax), with a total distributable profit of RMB 70,643,145.19 for the year[109]. - The cash dividend total accounted for a minimum of 20% of the profit distribution, in line with the company's growth stage and significant capital expenditure plans[108]. - The company maintained a consistent dividend distribution policy despite potential changes in share capital due to buybacks or employee stock ownership plans[109]. - The company is in a growth phase and has significant capital expenditure plans, which influenced its dividend distribution strategy[110]. - The profit distribution plan was approved by the board and shareholders, ensuring transparency and adherence to regulatory requirements[110]. Market Position and Strategy - The company has maintained a strong market position in the container sealant sector, capturing a significant share of the global market[13]. - The company aims to build a centennial enterprise, viewing its 30 years of operation as just the beginning[15]. - The company is committed to addressing the major risks outlined in its future development outlook, as detailed in the report[4]. - The company continues to focus on its core competencies while exploring new business opportunities to sustain growth[13]. - The company aims to enhance market share by leveraging brand advantages and expanding sales networks, particularly in the construction engineering sector[91]. - Future goals include consolidating leadership in the container and construction sectors while expanding into the prefabricated building materials market[93]. - The company intends to promote water-based coatings in various industries, capitalizing on their environmental advantages[93]. - The company will strengthen brand recognition and loyalty among end consumers in emerging business sectors such as automotive and e-commerce[93]. - The company plans to implement cost control measures and improve project management efficiency to maximize production effectiveness[93]. - The company has established a leading position in the container industry and aims to accelerate product technology upgrades[92]. Research and Development - The company has been continuously innovating and expanding into new markets, including industrial coatings, which has been a focus for nearly a decade[13]. - The company completed 6 process improvements, developed 23 new products, and optimized 31 formulas in 2018[41]. - The company applied for and received acceptance for 34 patents, including 23 invention patents, in 2018[41]. - Research and development expenses increased by 27.01% to ¥34,736,878.67, constituting 3.72% of operating revenue[68]. - The company has invested significantly in R&D for water-based coatings since 2006, developing multiple products to replace traditional solvent-based coatings[46]. - The company is focused on developing new technologies and products to drive future growth[166]. Environmental and Social Responsibility - The company emphasizes a business philosophy centered on "green environmental protection and professional quality," which has guided its innovation and market strategies[34]. - The company’s water-based sealants are designed to be environmentally friendly, containing no organic solvents, making them safer for use in various applications[33]. - The company actively participates in social responsibility initiatives, including donations to educational funds and environmental protection activities[183]. - The company has implemented measures to reduce energy consumption and waste emissions in product design and production, aligning with national low-carbon and environmental policies[182]. - The company is not classified as a key pollutant discharge unit by environmental protection authorities, adhering to relevant laws and regulations[187]. Share Repurchase and Capital Management - The company has committed to a share buyback program, with a budget of 200 million RMB to enhance shareholder value[117]. - The company plans to initiate a share buyback program if the stock price remains below the audited net asset value per share for 20 consecutive trading days[125]. - The total amount used for share repurchase will not exceed the total funds raised from the initial public offering[126]. - The company will not repurchase shares at a price higher than the audited net asset value per share from the previous fiscal year[126]. - The maximum limit for the number of shares repurchased in a single transaction is 2% of the total share capital[126]. - The controlling shareholder and actual controller are committed to supporting the share buyback proposal at the shareholders' meeting[126]. - The company has established a long-term cash dividend mechanism to actively return value to shareholders[182]. - The company is focused on expanding its market presence and enhancing shareholder value through strategic share repurchases and capital management[196]. Future Outlook - The company provided a future outlook projecting a revenue growth of 10% for the next fiscal year, targeting 1.32 billion RMB[115]. - New product development includes the launch of a high-performance chemical product expected to contribute an additional 200 million RMB in revenue[116]. - The company plans to expand its market presence in Southeast Asia, aiming for a 25% market share in the region by 2020[117]. - The management emphasized a focus on digital transformation to streamline operations and enhance customer engagement[114]. - The company plans to enhance its marketing strategies to effectively safeguard against the dilution of immediate returns for investors[139].