Jiayu (SZ:300117)2019-04-22 16:00Dividend Distribution - The company plans to distribute a cash dividend of 0.08 CNY per 10 shares to all shareholders, based on a total of 716,760,000 shares[4]. - The company distributed a cash dividend of 0.08 CNY per 10 shares, totaling 5,734,080 CNY for the year 2018[172]. - The cash dividend for 2017 was 0.10 CNY per 10 shares, amounting to 7,167,600 CNY, representing 11.25% of the net profit attributable to ordinary shareholders[178]. - The total distributable profit for 2018 was 401,934,840.39 CNY, with the cash dividend accounting for 1.43% of the total profit distribution[173]. Financial Performance - The company's operating revenue for 2018 was CNY 4,254,546,204.69, representing a 45.21% increase compared to CNY 2,929,856,974.13 in 2017[16]. - The net profit attributable to shareholders decreased by 7.86% to CNY 58,727,281.56 from CNY 63,740,296.22 in the previous year[16]. - The net cash flow from operating activities was negative at CNY -131,379,271.78, a decline of 360.36% compared to CNY 50,460,166.67 in 2017[16]. - The total assets increased by 21.63% to CNY 6,763,539,012.01 at the end of 2018, up from CNY 5,560,538,824.31 in 2017[16]. - The basic earnings per share decreased by 11.11% to CNY 0.08 from CNY 0.09 in 2017[16]. - The weighted average return on net assets was 4.03%, down from 4.42% in the previous year[16]. - The company achieved a total operating revenue of approximately CNY 4.25 billion in 2018, representing a year-on-year increase of 45.21% compared to CNY 2.93 billion in 2017[80]. - The company reported a total revenue of CNY 3,386,995,109.60 in the construction decoration sector, with a gross margin of 14.42%[86]. - The photovoltaic industry segment generated CNY 693.69 million, which is 16.30% of total revenue, showing a growth of 32.00% from CNY 525.52 million in 2017[80]. - The company reported a total revenue of 2,024.61 million RMB, with a net profit of 79.80 million RMB, reflecting a profit margin of approximately 3.94%[139]. Research and Development - The company holds a total of 226 patents, with 16 new patents granted in the reporting period for energy-saving windows and curtain walls[24]. - The solar photovoltaic business applied for 44 new technology patents, including 6 invention patents, and has a total of 155 authorized patents[25]. - The company’s intelligent equipment subsidiary received 28 new patents in 2018, with a total of 61 authorized patents in the field[26]. - The company applied for 68 new patents related to doors, windows, and photovoltaic technology, including 9 invention patents during the reporting period[62]. - The company has a total of 442 authorized patents, with 226 in doors and windows, 155 in photovoltaic technology, and 61 in intelligent equipment[62]. - The company invested approximately ¥104.33 million in R&D in 2018, accounting for 2.45% of its operating revenue, with a total R&D personnel count of 662, representing 47.12% of the workforce[113]. Market Position and Strategy - The company has a comprehensive network of subsidiaries across various provinces and cities in China, enhancing its operational capacity and market reach[8]. - The company is committed to maintaining the accuracy and completeness of its financial reports, as stated by its management team[3]. - The company has a strong commitment to compliance with the Shenzhen Stock Exchange's disclosure requirements for companies engaged in decoration and renovation business[4]. - The company is focusing on high-end intelligent equipment, including fully automated production lines for solar photovoltaic frames and high-temperature heat collection tubes, enhancing production efficiency and safety[30][29]. - The company is actively expanding its solar photovoltaic business, leveraging its technological reserves and experience in large-scale photovoltaic power station projects[34]. - The company is positioned to capitalize on the growing demand for green building materials and energy-efficient products, aligning with national policies promoting sustainable construction[39]. - The company is focusing on expanding its market presence in the Xiong'an New Area and enhancing cooperation with top 20 real estate companies in China[41]. - The company aims to expand its market share by focusing on three main business areas: energy-saving doors and windows, solar thermal energy, and intelligent equipment[56]. - The company is actively involved in the solar heating market, with plans to promote solar thermal projects in rural areas, targeting over 3 million households[145]. - The company is focusing on technological innovation and product upgrades in three main business segments: energy-efficient windows, solar photovoltaic, and high-end smart equipment[158]. Operational Challenges and Risks - The company emphasizes the importance of risk awareness regarding future strategic planning and operational plans, which do not constitute a substantive commitment to investors[4]. - The company is experiencing a cyclical nature in its window and curtain wall business, with peak construction activity in the second, third, and fourth quarters[31]. - The company aims to mitigate risks from real estate market fluctuations by forming strategic partnerships with large domestic real estate developers[166]. - The company has faced challenges in obtaining first-class qualifications for curtain wall projects in Guangdong, affecting its order acquisition capabilities[131]. - The company has not engaged in overseas projects, focusing solely on domestic operations[88]. Corporate Governance and Compliance - The company has committed to avoiding competition with its controlling shareholder, Tian Jiayu, since July 17, 2009, and has adhered to this commitment as of the report date[179]. - The company has not violated any commitments made regarding related party transactions, ensuring fair pricing based on market principles[180]. - The company has no penalties or rectification situations reported during the reporting period[191]. - The company and its controlling shareholders have no integrity issues reported during the reporting period[192]. - The company has not faced any bankruptcy reorganization matters during the reporting period[193]. - The company has not experienced any situations that could lead to suspension or termination of listing[193]. - The company has no significant litigation or arbitration matters that could impact its financial position[190]. Future Outlook - The company plans to achieve a sales contract target of 7.2 billion yuan for 2019[153]. - The window and curtain wall business aims for a contract amount of 5 billion yuan in 2019[154]. - The photovoltaic business plans to achieve a contract amount of 1.6 billion yuan in 2019, with the EPC business targeting 1 billion yuan and the component business aiming for 600 million yuan in contracts[156]. - The company plans to upgrade its fully automated production lines and introduce advanced high-efficiency components with cutting-edge technologies such as HIT, MWT, and SHINGLED in 2019[156]. - The company intends to apply for the recognition of national technology centers and high-tech enterprises to enhance its core technological competitiveness[158]. - The company plans to explore potential mergers and acquisitions to further strengthen its market position[198].