JASIC(SZ:300193)2020-02-28 16:00Financial Performance - The company achieved total operating revenue of ¥965,557,154.57 in 2019, an increase of 8.09% compared to ¥893,304,839.81 in 2018[20]. - Net profit attributable to shareholders was ¥207,669,714.14, reflecting an 8.85% increase from ¥190,782,362.94 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥172,438,518.19, a significant increase of 31.71% from ¥130,919,559.34 in 2018[20]. - The net cash flow from operating activities reached ¥217,116,538.49, marking a 43.81% increase from ¥150,976,513.41 in the previous year[20]. - Basic earnings per share rose to ¥0.43, up 13.16% from ¥0.38 in 2018[20]. - The total assets at the end of 2019 were ¥2,766,172,039.67, a slight increase of 0.02% from ¥2,765,493,157.86 at the end of 2018[20]. - Cash and cash equivalents increased by 115.04% to ¥1,424,803,519.92, primarily due to the redemption of bank wealth management products and increased time deposits[36]. - The company's fixed assets decreased by 39.33% to ¥206,482,532.73, mainly due to the conversion of rental properties to investment properties measured at cost[36]. - The company's intangible assets decreased by 26.50% to ¥19,319,757.50, due to the conversion of land use rights to investment properties[36]. - The company reported a net profit of CNY 201,225,745.32 for the year 2019, with a total distributable profit of CNY 749,677,323.24 as of December 31, 2019[103]. Dividend Policy - The profit distribution plan approved by the board is to distribute a cash dividend of 5 RMB per 10 shares (tax included) to all shareholders, based on 474,712,459 shares[9]. - A cash dividend of CNY 5.00 per 10 shares (including tax) was proposed, totaling CNY 237,356,229.50, which represents 100% of the profit distribution amount[102][104]. - The total cash dividend, including other methods such as share buybacks, amounted to CNY 444,192,586.10, accounting for 213.90% of the net profit attributable to shareholders[107]. - The company maintained a cash dividend payout ratio of at least 80% during its mature development stage, with no significant capital expenditure plans[102]. - The company has consistently increased its cash dividends over the past three years, with the 2019 dividend being significantly higher than the previous years[105]. Market and Operational Strategy - The company is committed to enhancing its market development in stable regions to compensate for potential losses from unstable areas[6]. - The company is currently developing several new products, including a new series of manual arc welding machines and digital control multi-functional welding machines, aimed at expanding market share[62]. - The company aims to expand its business into welding robots, cutting accessories, and welding materials to achieve internal growth and external expansion, narrowing the gap with international brands[87]. - The company will focus on continuous R&D investment to ensure the development of new products and technologies, while also protecting intellectual property through patents[88]. - The company recognizes the increasing demand for automated welding equipment due to rising labor costs and a shortage of skilled workers, indicating a growing market opportunity[85]. Risk Management - The company emphasizes the importance of monitoring international political and economic risks, as these could adversely affect overseas sales due to its significant export business[6]. - The company is closely monitoring foreign exchange market fluctuations to mitigate risks associated with currency appreciation, particularly against the US dollar[7]. - The company has been analyzing regional market conditions to make reasonable plans and arrangements to reduce the impact of political and economic instability on sales[6]. - The company is actively taking measures to minimize the negative impact of the pandemic on its operations, with a focus on returning to normal production and operations[5]. Corporate Governance - The company’s financial report is guaranteed to be true, accurate, and complete by its board and management, ensuring accountability for any misstatements[3]. - The company has committed to avoiding any direct or indirect participation in businesses that compete with its main operations, ensuring no conflict of interest with its core business activities[108]. - The company has established an independent financial accounting department and management system, ensuring financial autonomy and compliance with tax regulations[109]. - The company has pledged to avoid and minimize related party transactions with its controlling shareholder, ensuring fair treatment of all shareholders[109]. - The company has made commitments regarding potential tax liabilities, stating that if tax authorities pursue the recovery of income tax benefits enjoyed before the company's listing, the responsible individuals will bear full liability for the tax payments and related costs[111]. Employee and Social Responsibility - The company donated 5,000,000 CNY for COVID-19 prevention efforts, including 4,000,000 CNY to the China Charity Federation for medical supplies[154]. - The company has established a three-year action plan for employee education and training to cultivate high-skilled talent[152]. - The company has taken measures to ensure employee health and safety during the COVID-19 pandemic, including providing protective supplies[153]. Environmental Management - The company has established an environmental management system compliant with ISO14001:2015 standards and has passed the certification by SGS[158]. - There were no environmental pollution incidents or violations reported during the reporting period[158]. - The company generated no industrial wastewater during its operations, and domestic sewage was treated to meet standards before disposal[158]. Shareholder Structure - The company has no controlling shareholder or actual controller, as no single shareholder holds more than 30% of the total shares[173]. - The company’s actual controller status remains unchanged, with no controlling relationship established[175]. - The total shares held by the board members at the end of the reporting period is 65,029,580 shares, with a decrease of 259,900 shares during the period[187]. - The company experienced changes in its board, with Zhang Ruimin and Cai Jingxia newly elected as directors on February 22, 2019[189]. - The company has a total of 3 supervisory board members, including one employee representative[194].