NEW POWER(300152)2020-04-09 16:00Financial Performance - The company's operating revenue for 2019 was ¥513,408,320.75, a decrease of 2.47% compared to ¥526,434,765 in 2018[14] - The net profit attributable to shareholders was ¥10,126,586.62, representing a significant increase of 102.13% from a loss of ¥475,698,175.60 in the previous year[14] - The net cash flow from operating activities improved to ¥35,328,731.43, a 204.01% increase from a negative cash flow of ¥33,965,553.83 in 2018[14] - The basic earnings per share rose to ¥0.0142, compared to a loss of ¥0.6674 per share in 2018, marking a 102.13% improvement[14] - The total assets at the end of 2019 were ¥1,784,800,808.58, a decrease of 13.24% from ¥2,057,086,844.63 in 2018[14] - The net assets attributable to shareholders increased by 13.99% to ¥800,564,062.39 from ¥702,281,501.84 in 2018[14] - The weighted average return on equity was 1.43%, a recovery from -50.37% in the previous year[14] - The company reported no continuous losses over the last two years[14] - Non-recurring gains for 2019 amounted to approximately 100.53 million, significantly impacting the overall financial performance[21] - The company reported a total revenue of 470.92 million for the year, with a significant increase in user data from 134.65 million to 470.92 million, reflecting a growth of approximately 250%[84] Revenue Breakdown - The clean combustion and boiler energy efficiency segment generated CNY 245.17 million, accounting for 47.75% of total revenue, with a decline of 9.96% year-on-year[51] - The waste-to-energy segment saw a remarkable increase in revenue by 97.63%, reaching CNY 58.25 million, representing 11.35% of total revenue[51] - Water treatment segment revenue grew by 16.11% to CNY 209.99 million, making up 40.90% of total revenue[52] Operational Developments - The company aims to enhance its core competitiveness in waste incineration power generation and sewage treatment, leveraging the growing environmental protection industry[25] - The company has acquired a 49% stake in Hebei Xiong'an Lizi Environmental Technology Co., which is expected to generate nearly 50 million annually after project completion[26] - A hydrogen energy project in Xuzhou is under development, with a total planned investment of approximately 500 million RMB, covering an area of about 200 acres[27] - The company completed approximately 120,000 tons of household waste input and generated about 30 million kWh of electricity in the garbage incineration power generation sector[42] - The company secured 57 new orders in the sewage treatment sector, with a total contract amount of approximately 260 million yuan[42] Research and Development - The company has a total of 89 valid patents, including 30 invention patents and 59 utility model patents[37] - The company developed a fully automatic ultra-low nitrogen integrated combustion machine, with 3.3MW model obtaining type test certification by the end of 2019[34] - Research and development expenses decreased by 48.51% to CNY 16.23 million, attributed to the divestiture of non-performing assets[62] - The total number of R&D personnel was 67 in 2019, accounting for 19.14% of the workforce, an increase from 10.89% in 2018[66] - Research and development investment amounted to ¥16,225,142.26 in 2019, representing 3.16% of operating revenue, a decrease from 5.99% in 2018[66] Financial Management - The company plans to enhance financial management by improving accounts receivable collection and accelerating cash flow[45] - Accounts receivable decreased by 56.72% compared to the beginning of the period, mainly due to an increase in bill settlements[31] - Prepayments decreased by 77.45% compared to the beginning of the period, primarily due to the company's divestment of loss-making assets[31] - Long-term equity investments increased by 533.37% compared to the beginning of the period, mainly due to new significant influence investments[31] Governance and Compliance - The company has committed to maintaining the independence of its assets and financial management, ensuring no misuse of funds or resources[104] - The company has established an independent financial department and accounting system to ensure financial decision-making autonomy[104] - The company has acknowledged the non-standard audit report and is taking steps to address the highlighted issues to protect investor interests[111] - The company is under investigation by the China Securities Regulatory Commission for potential false disclosures related to its major shareholders[125] - The company has implemented measures to ensure compliance and address the issues raised by the audit report[118] Shareholder Relations - The company plans not to distribute cash dividends or issue bonus shares[5] - The total cash dividend for 2019 was 0.00 yuan, with a net profit of 10,126,586.6 yuan, resulting in a cash dividend ratio of 0.00%[103] - The company emphasizes the importance of investor returns, aligning its profit distribution policy with relevant laws and regulations[102] - The company has committed to ensuring the independence of its organizational structure and governance, with no overlap with controlled entities[104] Market Strategy - The company is focusing on expanding its market presence through strategic acquisitions and partnerships in the environmental technology sector[81] - The company aims to increase its market share by leveraging its technological advancements and expanding its service offerings[81] - The company is committed to maintaining a sustainable growth trajectory through innovative solutions in environmental technology[81] - The company has outlined future guidance that includes a focus on profitability and operational efficiency across its subsidiaries[81] Employee and Management Structure - The total number of employees in the company is 641, with 326 in the parent company and 315 in major subsidiaries[176] - The company has a professional composition of 195 production personnel, 53 sales personnel, 136 technical personnel, 32 financial personnel, and 225 administrative personnel[176] - The company organized a total of 2,833 training hours in 2019, covering management training, skills training, onboarding training, and qualification training[178] - The company has established a market-oriented compensation system that links performance assessment to individual value returns[177] Risk Management - The company has committed to enhancing internal governance and risk management to prevent future related party fund occupation issues[111] - The company’s independent directors expressed support for the audit opinions and emphasized the need for ongoing monitoring of the company’s financial practices[113] - The company has not reported any changes in the shareholding structure of major shareholders during the reporting period[160]