CORPRO(SZ:300101)2019-03-25 16:00Financial Performance - The company's operating revenue for 2018 was CNY 443,563,011.45, representing a slight increase of 0.54% compared to CNY 441,185,432.22 in 2017[28]. - The net profit attributable to shareholders for 2018 was CNY 16,169,993.94, a decrease of 47.05% from CNY 30,539,768.86 in 2017[28]. - The net cash flow from operating activities improved significantly to CNY 86,958,382.23, compared to a negative cash flow of CNY -3,603,859.16 in 2017, marking a 2,512.92% increase[28]. - The total assets of the company increased by 21.02% to CNY 1,545,715,730.93 at the end of 2018, up from CNY 1,277,215,811.43 at the end of 2017[28]. - The company's operating profit was CNY 19.534 million, a decrease of 57.47% compared to the previous year[57]. - The total profit amounted to CNY 25.223 million, down 49.51% year-on-year[57]. - The net profit attributable to shareholders was CNY 16.170 million, reflecting a decline of 47.05% from the previous year[57]. - The company reported a net profit of CNY 16.17 million, down 47.05% compared to the previous year[74]. - The cash dividend proposed is 0.20 yuan per 10 shares, totaling 11,187,000 yuan, which represents 10.57% of the total profit distribution[149]. - The total cash dividend for 2018 was 11.187 million CNY, with no other forms of distribution reported[155]. Research and Development - The company has a comprehensive strategy for market expansion and product development, focusing on satellite navigation technology[14]. - The financial report indicates a focus on research and development in key components for the BeiDou satellite navigation system[16]. - The company is actively involved in the development of new technologies and products related to satellite communication and navigation systems[19]. - The company achieved significant advancements in the development of high-performance integrated circuits and key components for Beidou navigation terminals, focusing on frequency synthesizers and SoC technologies[37]. - The company increased its R&D investment, focusing on high-performance integrated circuits, achieving significant advancements in frequency synthesizers and software-defined radio technologies[58]. - R&D expenses increased by 50.62% to CNY 74.13 million, reflecting a commitment to technological innovation[71]. - The company launched 95 projects in core components, focusing on technologies such as frequency synthesizers and software-defined radio, aiming to achieve lower power consumption and higher reliability[91]. - The company has filed for 13 new invention patents during the reporting period, enhancing its core technology development capabilities[50]. - The capitalized R&D expenditure accounted for 23.93% of total R&D investment, with a significant impact on net profit[95]. Market Strategy and Expansion - The report outlines the company's operational performance and future outlook, emphasizing growth opportunities in the satellite navigation sector[18]. - The company has established subsidiaries to enhance its capabilities in satellite technology and related services[14]. - The company is focusing on the "Beidou+" application model, promoting the development and application of Beidou terminal products[44]. - The company has increased its market channel development efforts across various regions, resulting in a comprehensive range of intelligent video products[46]. - The company aims to provide comprehensive and intelligent satellite services across various sectors, including aerospace, aviation, and consumer markets[91]. - The company plans to enhance its technology in Beidou chips and terminal products while exploring applications in various industries such as rail transit and energy[122]. - The company aims to maintain its leading position in the domestic special industry sectors by continuously attracting top R&D talent[121]. - The company is focused on advancing its "N+e+X" strategy to align with national policies in satellite navigation and communication[116]. Operational Risks and Governance - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, as detailed in the section discussing potential operational risks[7]. - The company is facing risks related to the identification of actual controllers due to ongoing litigation involving its controlling shareholder, which may affect the company's governance structure[137]. - Rising costs are a concern due to high R&D expenditures in the high-tech sector and competitive talent acquisition, prompting the company to enhance project management and control expenses[138]. - The company is committed to a market-oriented R&D strategy to mitigate risks associated with new product development, focusing on rigorous project evaluations[139]. - The company anticipates increased competition in its main industry due to a slowdown in macroeconomic growth and the entry of new competitors, necessitating the exploration of new growth potentials[141]. Corporate Governance and Compliance - The company has maintained compliance with commitments regarding avoiding competition and fund occupation, ensuring operational integrity[161]. - The company has not made any changes to its cash dividend policy during the reporting period, ensuring compliance with relevant regulations and protecting shareholder interests[148]. - The company has not encountered any legal obstacles regarding the share transfer process[178]. - There were no non-operating fund occupations by the controlling shareholder or related parties during the reporting period[189]. - The company will fulfill its information disclosure obligations based on the specific execution situation of the performance compensation[187]. Subsidiaries and Partnerships - The company established a new subsidiary, Liangshan BeiDou Technology Co., Ltd., with a registered capital of 10 million CNY, which was included in the consolidated financial statements[86]. - The company has established a core partnership with four major operators in Sichuan, laying the foundation for future comprehensive cooperation in various projects[125]. Industry Trends and Market Conditions - The integrated circuit industry in China saw a sales revenue of 574 billion CNY in 2018, marking a year-on-year growth of 22.9%[118]. - The Beidou satellite navigation industry contributed 80% to the 255 billion CNY output value of the satellite navigation and positioning service industry in 2017, which grew by 20.4%[122]. - The video surveillance industry is evolving towards AI intelligence, with significant advancements in technology and policy support[123]. - The geographic information industry in China achieved a value of 518 billion yuan in 2017, with a year-on-year growth of 18.8%, and is expected to exceed 800 billion yuan by 2020[126].