Hitevision (SZ:002955)2020-04-20 16:00Profit Distribution and Financial Performance - The company reported a profit distribution plan, proposing a capital reserve conversion of 7 shares for every 10 shares held, with no cash dividends[5]. - The company has a total of 139,090,854 shares outstanding, which serves as the basis for the profit distribution plan[5]. - The company achieved a revenue of 4.83 billion RMB, representing a year-on-year growth of 10.34%[72]. - The total profit amounted to 374 million RMB, with a net profit attributable to shareholders of 314 million RMB, resulting in a basic earnings per share of 2.56 RMB[72]. - In 2019, the company achieved operating revenue of 4,830.47 million RMB and a net profit attributable to shareholders of 314.12 million RMB[166]. - The company did not distribute cash dividends for 2018 and 2019, maintaining a cash dividend ratio of 0% for both years[162][163]. - For the 2019 profit distribution plan, the company proposed a capital reserve increase of 7 shares for every 10 shares held, totaling 97,363,598 shares, without cash dividends or stock dividends[166]. - As of December 31, 2019, the company's undistributed profits amounted to 694.62 million RMB, with a capital reserve balance of 2.07 billion RMB[166]. Risk Management and Compliance - The company emphasizes the importance of risk management and has outlined major risks and countermeasures in the report[5]. - The financial report is guaranteed to be true, accurate, and complete by the company's management, including the CEO and accounting head[4]. - The company has established a commitment to comply with regulations regarding the reduction of shares held by directors and senior management, ensuring adherence to legal frameworks[177]. - The company has confirmed that any changes in shareholdings due to rights distributions will still adhere to the established commitments[178]. - The company emphasizes the importance of legal compliance in share transactions to maintain investor confidence and market integrity[179]. Market Presence and Product Development - The company has a focus on expanding its market presence and developing new technologies[5]. - The company is focused on the design, R&D, production, and sales of smart interactive display products and solutions, targeting both educational and commercial markets[36]. - The "Hitevision" brand has established a significant market share in the education sector, leveraging key technologies and extensive sales channels[36]. - The company aims to expand its market presence in smart office, smart healthcare, and other application fields, driven by advancements in technology[36]. - The company has maintained a leading position in the education information technology sector, ranking among the top two in the market for educational tablets and smart blackboards in mainland China in 2019[52]. Research and Development - The company has established four R&D centers in Beijing, Shenzhen, Baoding, and Hsinchu, Taiwan, with a team of over 600 personnel, and has obtained a total of 499 patents and 277 software copyrights as of December 31, 2019[61]. - The company increased its R&D investment, focusing on core technologies such as cloud computing, big data, artificial intelligence, and 5G[81]. - The company launched innovative products such as the smart blackboard and AI classroom, enhancing user experience with features like ultra-high definition display and AI-based attendance tracking[61]. Social Responsibility and Community Engagement - The company donated a batch of 65-86 inch smart interactive meeting screens to the Wuhan emergency command center during the COVID-19 outbreak, demonstrating its commitment to social responsibility[55]. - The company provided free online classroom services during the COVID-19 pandemic, reaching over 33 million student attendance by the end of March 2020[doc->id='86']. - The company conducted extensive volunteer activities, including providing free inspection services for over 30,000 interactive devices in schools across the country[doc->id='86']. Shareholder Commitments and Stock Management - The company will implement a clear profit distribution policy to ensure reasonable returns for shareholders, maintaining its commitment to shareholder interests[157]. - The company plans to distribute cash dividends of no less than 10% of the distributable profits achieved in the current year, provided that cash flow is sufficient for normal operations and development plans[184]. - The company has committed to stabilizing its stock price if the A-share stock price falls below the latest audited net asset value per share for 20 consecutive trading days within three years of listing[184]. - The company will announce the repurchase plan within 2 working days after the board resolution, detailing the number of shares, price range, and completion timeline[187]. - The company has established a plan for stock repurchase and increase, which includes specific conditions and timelines for implementation[192].