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森远股份(300210) - 2018 Q4 - 年度财报
SENYUANSENYUAN(SZ:300210)2019-04-12 16:00

Financial Performance - The company's operating revenue for 2018 was CNY 373,316,060.43, a decrease of 8.20% compared to CNY 406,641,337.80 in 2017[22] - The net profit attributable to shareholders for 2018 was a loss of CNY 96,674,931.61, representing a decline of 274.43% from a profit of CNY 55,422,911.04 in 2017[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 103,401,472.63, down 330.93% from a profit of CNY 44,776,803.60 in 2017[22] - The net cash flow from operating activities for 2018 was a negative CNY 62,796,744.23, worsening by 42.81% compared to a negative CNY 43,970,380.27 in 2017[22] - The total assets at the end of 2018 amounted to CNY 2,242,941,280.40, a decrease of 5.03% from CNY 2,361,628,360.78 at the end of 2017[22] - The net assets attributable to shareholders decreased by 7.93% to CNY 1,191,654,014.20 at the end of 2018 from CNY 1,294,358,268.64 at the end of 2017[22] - The basic earnings per share for 2018 was -CNY 0.2, a decline of 281.82% from CNY 0.11 in 2017[22] - The weighted average return on net assets for 2018 was -7.78%, down 12.13% from 4.35% in 2017[22] Revenue and Sales - The manufacturing business generated revenue of CNY 325.54 million, accounting for 87.20% of total revenue, a decrease of 11.01% year-on-year[66] - The sales revenue of snow removal equipment was CNY 176.32 million, a decrease of 1.02% year-on-year[67] - Emergency rescue equipment sales generated CNY 176.32 million, down 1.02% year-on-year, while municipal sanitation equipment sales surged by 133.60% to CNY 4.76 million[71][76] - The company reported a net profit attributable to shareholders of CNY -96.67 million, a decline of 274.43% year-on-year[72] - The company’s production volume for emergency rescue equipment rose by 37.08% year-on-year, totaling 854 units[80] - The inventory of emergency rescue equipment decreased significantly by 68.57% year-on-year, down to 121 units[80] Research and Development - The company has maintained a strong focus on research and development, with new products such as a 3D printer and environmentally friendly asphalt mixing stations being successfully developed[31] - Total research and development expenditure amounted to CNY 29.79 million, a decrease of 5.77% from the previous year, while the R&D expenditure as a percentage of operating income rose to 7.98%[89] - The company has successfully developed a new generation of asphalt pavement in-situ thermal regeneration re-paving unit, which features remote monitoring and fault diagnosis capabilities, enhancing operational efficiency[33] - The company has made advancements in 3D printing technology, launching the SYP-1800 model for high-tech applications, which improves casting precision and efficiency[52] Market and Product Development - The company is recognized as a leading manufacturer of asphalt pavement regeneration equipment, providing comprehensive solutions for in-situ and plant-mixed regeneration technologies[44] - The market demand for new types of road maintenance and regeneration equipment is substantial, driven by the shift towards comprehensive maintenance and environmental sustainability[44] - The company is actively pursuing joint ventures and partnerships to build a road regeneration maintenance service platform, aiming to create a green maintenance ecosystem[47] - The company has developed the LBH4000 environmentally friendly asphalt mixing plant, which addresses dust, smoke, and noise pollution, meeting increasing environmental standards in urban areas[37] Financial Management and Investments - The company reported a net profit of RMB -4.58 million from its subsidiary, Jilin Province Highway Machinery Co., Ltd., which represents a significant loss[115] - The company has committed to invest in three projects: RMB 120 million for asphalt pavement recycling equipment, RMB 40 million for road maintenance equipment upgrades, and RMB 30 million for a technology R&D center[107] - The company has a remaining balance of RMB 1.06 million from the raised funds that have been idle for over two years[106] - The company has implemented strict management of raised funds to ensure they are used for designated investment projects[107] Shareholder and Governance - The company has not sold any major assets or equity during the reporting period[113][114] - The company has not made any adjustments to its cash dividend policy during the reporting period[135] - The company has fulfilled all commitments made by its actual controllers and shareholders during the reporting period[139] - The company has committed to avoiding any form of competition with its own business, ensuring that shareholders will not engage in competing activities directly or indirectly[140] Risks and Challenges - The company faces risks related to accounts receivable management, with a significant increase in accounts receivable during the reporting period[9] - The company faced significant challenges in 2018, including increased debt and a first-time loss due to competitive pressures and rising accounts receivable[56] - The company has identified risks related to increased competition in the equipment manufacturing industry and is implementing measures to enhance core competitiveness and ensure sustainable development[128]