新动力(300152) - 2018 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2018 was ¥526,434,765, representing a decrease of 20.45% compared to ¥661,795,558 in 2017[15]. - The net profit attributable to shareholders was -¥475,698,175, a significant decline of 4,709.08% from ¥37,459,960.4 in the previous year[15]. - The net profit after deducting non-recurring gains and losses was -¥148,701,121, down 80.07% from -¥55,441,013 in 2017[15]. - The cash flow from operating activities was -¥33,965,553, a decrease of 66.53% compared to -¥101,481,954 in 2017[15]. - The total assets at the end of 2018 were ¥2,057,086,844, a decrease of 32.03% from ¥3,286,745,640 at the end of 2017[15]. - The net assets attributable to shareholders decreased by 40.60% to ¥702,281,501 from ¥1,182,255,760 in 2017[15]. - The basic earnings per share for 2018 was -¥0.6674, a decline of 4,702.76% from ¥0.05 in the previous year[15]. - The weighted average return on equity was -50.37%, down from 2.72% in 2017[15]. - The total revenue for the reporting period was CNY 526.43 million, a decrease of 20.45% compared to the previous year[52]. - Operating costs amounted to CNY 452.34 million, down 13.65% year-on-year[57]. - The net profit attributable to the parent company was a loss of CNY 47.57 million, a decrease of 4,709.08% compared to the previous year[52]. Operational Strategy - The company aims to develop hydrogen energy as part of its strategy to reduce reliance on traditional energy sources and enhance environmental protection[26]. - The strategic focus will be on environmental governance needs in the Xiong'an New Area, leveraging traditional business advantages and emerging energy research[26]. - The company has diversified its operations to include energy-saving combustion, smoke governance, and water environment management[27]. - The company plans to expand its environmental services across more cities in China and along the "Belt and Road" initiative[26]. - The company operates in the energy-saving and environmental protection sector, utilizing EP and EPC business models for comprehensive project management[33]. - The environmental protection industry in China is experiencing rapid growth, with the energy-saving combustion sector also maintaining a fast growth rate[34]. - The company aims to transition from being a supplier of energy-saving and environmental combustion control equipment to a renewable energy operator, enhancing profitability and competitiveness[81]. Research and Development - R&D expenses rose by 56.87% to ¥31,513,943.74 in 2018, reflecting increased investment in research and development[64]. - The number of R&D personnel increased to 75 in 2018, accounting for 10.89% of total employees, up from 9.30% in 2017[66]. - R&D investment as a percentage of operating revenue increased to 5.99% in 2018 from 3.74% in 2017[66]. - The company has received multiple national awards for its technological innovations, including two second-class National Science and Technology Progress Awards and two National Invention Awards[38]. - The company holds 152 valid patents, including 65 held by the listed company and 87 by subsidiaries, demonstrating its strong focus on innovation[41]. Management and Governance - The company has committed to maintaining independent operations, including financial independence and management autonomy, as part of its corporate governance[111]. - The company has established a comprehensive accounts receivable management system to improve turnover rates amid growing receivables from expanding business operations[100]. - The company emphasizes cost management and budget control to enhance profitability through various measures including technological innovation and procurement savings[93]. - The company has committed to fair and reasonable related party transactions, adhering to market rules and regulations[112]. - The company has implemented new accounting standards for financial reporting starting from 2018, as mandated by the Ministry of Finance[130]. Market Presence and Expansion - The company is focusing on new markets such as VOCs and large torches to seek new growth points amid a shrinking traditional market[93]. - The company is actively pursuing the recovery of debts from Xinjiang Jun Chuang, which remains unresolved as of the report date[121]. - The company has signed strategic cooperation agreements with various organizations to accelerate its development strategy in the Xiong'an New Area, focusing on integrated environmental solutions[90]. - The company is targeting a 100% harmless treatment rate for urban household waste in major cities by the end of 2020, as part of national waste management goals[87]. - The company is committed to expanding its business in the emerging energy sector, particularly in hydrogen energy, to leverage future growth opportunities[88]. Risks and Challenges - The company has acknowledged the existence of various risks in its operations, which are detailed in the report[4]. - The company faces risks from increased competition in the environmental protection industry due to the entry of state-owned enterprises and private capital[95]. - The company acknowledges risks related to rising production costs due to increasing prices of materials and labor in the environmental protection sector[99]. - The company reported a litigation case involving a claim of 166.7 million yuan related to a share transfer dispute, which has been settled[134]. - The company is currently involved in a litigation case with a claim of 73.56 million yuan regarding ecological bill payment rights, which is still in progress[134]. Shareholder and Dividend Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company’s board of directors agreed not to distribute any cash dividends or stock bonuses for the 2018 fiscal year due to the negative net profit[107]. - The company reported a cumulative undistributed profit of over 30% of the average distributable profit for the last three years, with a minimum cash distribution of 10% of the current year's distributable profit[113]. - The company has not proposed any cash dividend distribution plan for the reporting period despite having positive distributable profits[110]. - The cash dividend total for 2017 and 2016 was 4,276,800.00 yuan and 2,138,400.00 yuan, respectively, with no dividends in 2018[110]. Employee and Management Changes - The company experienced a management turnover with multiple executives resigning, including the General Manager and several Vice Presidents, due to personal reasons[181]. - The company appointed a new General Manager, Ge Bing, on January 15, 2019, following the resignation of the previous General Manager, Li Xiaoguang[182]. - The company has established a remuneration assessment system based on performance evaluations, with a 1:1 ratio of base salary to performance salary[191]. - The total remuneration for directors and senior management during the reporting period amounted to 417.32 million yuan[193]. - The company has a total of 689 employees who received salaries during the reporting period[193].