新动力(300152) - 2018 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2018 was ¥526,434,765, a decrease of 20.45% compared to ¥661,795,558 in 2017[16]. - The net profit attributable to shareholders was -¥475,698,175, representing a decline of 4,709.08% from a profit of ¥37,459,960.4 in the previous year[16]. - The net profit excluding non-recurring gains and losses was -¥439,344,171.51, a decrease of 432.02% compared to -¥55,441,013.10 in 2017[16]. - The total assets at the end of 2018 were ¥2,057,086,844.63, down 32.03% from ¥3,286,745,640.84 at the end of 2017[16]. - The net assets attributable to shareholders decreased by 40.60% to ¥702,281,501.84 from ¥1,396,390,264.73 in 2017[16]. - The basic earnings per share for 2018 was -¥0.6674, a significant drop of 4,702.76% from ¥0.05 in the previous year[16]. - The cash flow from operating activities was -¥33,965,553, improving by 66.53% from -¥101,481,954 in 2017[16]. - The weighted average return on equity was -50.37%, a decrease of 51.25% from 2.72% in 2017[16]. - The total revenue for the reporting period was CNY 526.43 million, a decrease of 20.45% compared to the previous year[49]. - Operating costs amounted to CNY 452.34 million, down 13.65% year-on-year[54]. - The net profit attributable to the parent company was CNY -47.57 million, a decrease of CNY 4.71 million compared to the previous year[49]. Business Strategy and Development - The company aims to develop hydrogen energy as part of its strategy to reduce reliance on traditional energy sources and enhance environmental protection[27]. - The strategic focus will be on environmental governance needs in Xiong'an New Area, with plans to expand services nationwide and along the "Belt and Road" initiative[27]. - The company operates in three core business segments: energy-saving combustion, flue gas treatment, and water environment governance[28]. - The company is committed to integrating its traditional business advantages with emerging energy developments to enhance its competitive edge[26]. - The company operates under the EP and EPC business models, focusing on energy conservation and environmental protection, ensuring quality, safety, costs, and progress under fixed-price contracts[30]. - The company aims to transition from being a supplier of energy-saving equipment to a renewable energy operator, enhancing its profitability and competitiveness[78]. - The company is actively involved in the investment and construction of waste incineration projects, which are crucial for its strategic development[78]. - The company plans to enhance quality and safety training, focusing on design quality and manufacturing quality to improve customer satisfaction[90]. - The company is focusing on new markets such as VOCs and large torches to seek new growth points amid a shrinking traditional market[90]. Research and Innovation - The company has developed into a large group with a focus on technology and performance, maintaining a leading position in the energy-saving combustion industry with significant market shares in various systems[31]. - The company has established Asia's largest combustion laboratory and holds a considerable market share in plasma, dual-strong low-oil, and waste incineration technologies[31]. - In 2018, the company achieved significant technological advancements, including a NOx emission level of less than 250 mg/Nm³ for its swirl coal powder burner, which is considered a domestic leading standard[36]. - The company holds a total of 152 valid patents, including 65 held by the listed company and 87 by subsidiaries, reflecting its strong innovation capabilities[38]. - The company has received multiple national awards for its technological innovations, including the National Science and Technology Progress Award and the National Technology Invention Award[35]. - The company is enhancing its research and development efforts in low-nitrogen combustion technology and waste gas treatment to maintain competitive advantage[90]. Risk Management and Governance - The company has acknowledged the existence of various risks in its future development outlook[4]. - The company faces risks from increased competition in the environmental protection industry due to the entry of state-owned enterprises and private capital[92]. - The company is implementing cost control measures to mitigate risks from rising production costs in the environmental sector[96]. - The company has established a comprehensive accounts receivable management system to improve turnover rates amid growing receivables[97]. - The company has committed to maintaining independent operations, including financial independence and management autonomy, as part of its governance structure[108]. - The company has a rigorous governance structure, complying with relevant laws and regulations, ensuring effective operation of the board and shareholder meetings[195]. - The company emphasizes transparency in information disclosure, utilizing multiple channels to maintain good investor relations[197]. Shareholder and Financial Management - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company reported a net profit attributable to shareholders of -475,698,175.60 yuan for 2018, resulting in no cash dividends or stock bonuses being distributed[107]. - The company has a consistent policy of not distributing dividends in years with negative net profits[107]. - The company has committed to distributing at least 10% of the current year's distributable profits in cash dividends, with a cumulative distribution of no less than 30% of the average annual distributable profits over the last three years[110]. - The company reported a total of 1,100 million yuan in expected related party transactions, with 701.94 million yuan actually occurring during the reporting period[136]. - The company has not engaged in any direct or indirect business activities that compete with its listed operations, ensuring no substantial competition exists[109]. Management Changes - The company has seen a turnover in its senior management with multiple resignations in 2018[175]. - The company appointed new executives including 李晓光 as the current general manager from March 2018[175]. - The company experienced significant changes in its board and management personnel, with multiple resignations due to personal reasons throughout 2018[176]. - The company appointed Ge Bing as the new General Manager on January 15, 2019, following the resignation of Li Xiaoguang[176]. Compliance and Regulatory Issues - The company faced administrative penalties from the China Securities Regulatory Commission for violations of securities laws, with notifications received on August 9, 2018[132]. - The company has completed rectification work within 60 working days as required by regulatory authorities regarding previous financial discrepancies[113]. - The independent directors have reviewed the non-standard audit report and support the board's measures to improve operational stability and protect investor interests[122]. - The company has not faced any situations that could lead to suspension or termination of its listing[130].