BESTWAY(SZ:300008)2023-04-21 16:00Acquisitions and Investments - The company acquired 100% equity of Jin Haiyun in 2016 and 100% equity of Dajin Heavy Industry in 2017, enhancing its R&D, design, and manufacturing capabilities in defense equipment[6]. - The company acquired 100% equity of Jiangsu Dajin Heavy Industry Co., Ltd. on December 28, 2017, which was included in the consolidated financial statements[29]. - The company completed the acquisition of Dazhong Heavy Industry in December 2017, enhancing its capabilities in marine engineering and clean energy[76]. - A strategic acquisition of a local competitor is planned, which is anticipated to increase the company's production capacity by 30%[64]. - A strategic acquisition of a smaller competitor was completed, expected to enhance the company's technological capabilities and product offerings[66]. - The company acquired 37% of Jiangsu Dajin Green Energy Equipment Co., Ltd. for 37 million yuan on January 15, 2017, increasing its total stake to 70%[190]. Financial Performance - The company's operating revenue for 2017 was CNY 1,422,485,630.3, a decrease of 6.29% compared to CNY 1,517,999,954.4 in 2016[24]. - The net profit attributable to shareholders for 2017 was CNY 124,674,663.78, representing a decline of 23.20% from CNY 162,333,097.69 in 2016[24]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the year, representing a growth of 20% compared to the previous year[154]. - The company reported a total revenue of RMB 590,839,151, with a net profit of RMB 140,156,141, indicating a significant performance in the fiscal year[130]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% driven by new product launches and market expansion strategies[156]. Cash Flow and Assets - The company reported a net cash flow from operating activities of CNY -125,373,123.9 in 2017, a 55.24% improvement from CNY -280,078,311.4 in 2016[25]. - The total assets at the end of 2017 were CNY 4,439,882,424.9, a decrease of 2.59% from CNY 4,557,747,575.6 at the end of 2016[25]. - The company’s total investment in 2017 was ¥805,509,060.00, a decrease of 46.37% compared to the previous year[113]. - The net increase in cash and cash equivalents was -¥274,408,516.54, reflecting a 190.78% decline compared to the previous year[106]. Research and Development - The company has developed a range of high-performance polymer products and marine equipment, widely used in maritime rescue and military applications[38]. - The company has filed multiple patents, including a practical new type of marine platform pile driving system (patent number: 201721255591.2) on September 27, 2017[67]. - The company maintained a high level of R&D investment, achieving several project approvals and recognitions from local authorities[77]. - The number of R&D personnel increased to 119 in 2017, accounting for 10.49% of the total workforce, up from 9.55% in 2016[105]. - Investment in R&D increased by 30%, focusing on advanced defense technologies and innovative equipment solutions[157]. Market and Product Development - The company is actively expanding its market presence in deep-sea engineering projects, with an increasing proportion of high-end products[46]. - The company aims to launch three new products in the next quarter, focusing on advanced marine technology solutions[65]. - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[65]. - New product development includes the launch of a dual-fuel tugboat in collaboration with CNOOC, expected to enhance operational efficiency[64]. Risk Management and Compliance - The company reported a significant risk related to accounts receivable and advances, with a large amount due to the development of EPC business and inventory disposal, which may not be recoverable in a timely manner[7]. - The company will enhance its risk management framework by establishing a legal risk control system to safeguard its transformation and development[136]. - The company has committed to ensuring that no related party transactions will harm the legitimate rights and interests of other shareholders[150]. Dividends and Shareholder Relations - The company plans to distribute a cash dividend of 0.18 RMB per 10 shares (including tax) to all shareholders, based on a total of 960,016,185 shares[10]. - The cash dividend distribution plan for 2017 is set at RMB 0.18 per 10 shares, totaling RMB 17,280,291.33 in cash dividends[142]. - The company has not proposed any cash dividend distribution plan for ordinary shareholders despite having a positive profit available for distribution[145]. Environmental and Clean Energy Initiatives - The company is committed to promoting LNG-powered vessels and expanding its overseas energy business in alignment with national strategies[138]. - The clean energy business has seen significant revenue growth compared to the previous year, driven by government efforts to address air pollution and adjust energy structures[55]. - The company aims to enhance its clean energy business by accelerating the deployment of gas stations and distributed energy in the Yangtze River Delta region[138]. Legal and Regulatory Matters - The company is involved in a lawsuit with a claim amount of 564.06 million, which has been recognized as a liability[171]. - The company has no violations regarding external guarantees during the reporting period[199]. - The company has acknowledged the existence of non-operating fund occupation by controlling shareholders and their affiliates[164].