ELECSPN(SZ:002935)2020-04-22 16:00Dividend Distribution - The company plans to distribute a cash dividend of 2 RMB (including tax) for every 10 shares, with a capital reserve conversion of 3 shares for every 10 shares[7]. - The total number of shares for the dividend distribution is 160,005,000 shares[7]. - The cash dividend accounted for 28.71% of the net profit attributable to the company's ordinary shareholders for 2019, which was 111,454,634.18 yuan[140]. - The company distributed a cash dividend of 2.00 yuan per 10 shares (including tax) for the year 2019, with a total cash dividend amounting to 32,001,000 yuan[140]. - The company did not distribute any profits in 2017, while in 2018, it distributed a cash dividend of 2.5 yuan per 10 shares[140]. - The company’s profit distribution policy requires a minimum cash dividend ratio of 20% for growth stage companies with significant capital expenditure plans[141]. - The cash dividend total for the last three years was at least 30% of the average distributable profit achieved during that period[140]. - The company has not made any adjustments or changes to its cash dividend policy during the reporting period[140]. Financial Performance - The company's operating revenue for 2019 was CNY 866,905,597.39, representing a year-on-year increase of 0.34% compared to CNY 864,006,673.37 in 2018[27]. - The net profit attributable to shareholders of the listed company for 2019 was CNY 111,454,634.18, an increase of 14.81% from CNY 97,078,029.74 in 2018[27]. - The basic earnings per share for 2019 was CNY 0.6966, a decrease of 4.33% compared to CNY 1.0921 in 2018[30]. - Total assets at the end of 2019 were CNY 1,644,481,858.27, reflecting an increase of 11.41% from CNY 1,476,080,070.99 at the end of 2018[30]. - The net assets attributable to shareholders of the listed company increased by 7.02% to CNY 1,265,914,338.61 at the end of 2019, compared to CNY 1,182,901,459.89 at the end of 2018[30]. - The company reported a diluted earnings per share of CNY 0.6966 for 2019, down from CNY 1.0921 in 2018, indicating a decline of 4.33%[30]. - The weighted average return on equity for 2019 was 9.11%, a decrease of 2.80% from 11.91% in 2018[30]. - The company received government subsidies amounting to CNY 6,963,343.20 in 2019, compared to CNY 6,460,592.00 in 2018[38]. - The company reported a total of CNY 15,805,047.64 in non-recurring gains and losses for 2019, significantly higher than CNY 5,544,869.09 in 2018[38]. Research and Development - The company invested CNY 70.99 million in R&D, representing 8.19% of operating revenue, with an increase of 8.26% year-on-year[79]. - The company has established a risk management-based production model for civilian products, ensuring quality and efficiency in mass production[67]. - The company has formed strategic partnerships with research institutions to enhance its R&D capabilities and maintain a competitive edge in technology[68]. - The number of R&D personnel increased by 10.55% to 241, representing 41.62% of the total workforce[94]. - The company aims to achieve international first-class standards in time-frequency technology and domestic leadership in Beidou satellite applications through focused R&D efforts[126]. - The company plans to accelerate the development of new products, including series of laser-pumped small cesium atomic clocks and high-precision temperature-compensated crystal oscillators[127]. Market and Product Development - The company focuses on technological advancements and product development in the field of atomic clocks and timing systems[16]. - The company is actively involved in the development of satellite navigation systems, including the Beidou system[16]. - The company has developed a dynamic ECG recorder for home monitoring, which is currently in the market promotion stage after obtaining II class medical device registration[45]. - The company is a major supplier of rubidium atomic clocks in China, with technology performance reaching international advanced levels, and has been recognized in the international timekeeping community[51]. - The company has established a BeiDou navigation civil service center in Sichuan, providing services for emergency communication and disaster prevention[44]. - The company is expanding its market presence in the civilian sector, particularly in 5G-related time frequency products, driven by increasing demand[49][52]. - The company adopts a "standard products + customized products" model to meet diverse customer needs and enhance competitive advantages[45]. Risk Management and Compliance - The company emphasizes the importance of risk awareness regarding market, technology, talent, and investment project risks[7]. - The board of directors has confirmed the accuracy and completeness of the financial report, ensuring no false statements or omissions[5]. - The company has fulfilled all commitments made by its actual controllers, shareholders, and related parties during the reporting period and as of the end of the reporting period[149]. - The company has established a commitment to comply with the regulations set by the China Securities Regulatory Commission regarding the reduction of shareholdings by major shareholders[152]. - The company has a structured approach to managing shareholder commitments, ensuring that any breaches are addressed promptly and transparently[162]. Shareholder Commitments and Governance - The controlling shareholder, China Electronics Technology Group Corporation No. 10 Research Institute, committed to strict adherence to all public promises made during the IPO process, accepting social supervision[162]. - The company will compensate investors for losses incurred due to any false records or misleading statements in the prospectus, as per regulatory and judicial determinations[162]. - The company has a long-term commitment to fulfill all promises made during the IPO process, ensuring transparency and accountability[160]. - The company will implement stock price stabilization measures if the stock price falls below the latest audited net asset value for 20 consecutive trading days[188]. - The controlling shareholder has an obligation to increase stock holdings, with a minimum increase amount of RMB 10 million, and failure to comply will result in cash compensation to the company[185].