YongLi(SZ:300230)2020-04-27 16:00Financial Performance - The company's operating revenue for 2019 was CNY 3,263,291,435.97, a decrease of 5.40% compared to CNY 3,449,671,548.20 in 2018[23]. - The net profit attributable to shareholders for 2019 was CNY 263,628,568.10, down 32.03% from CNY 387,852,628.89 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 124,196,772.31, a decline of 60.14% compared to CNY 311,544,523.09 in 2018[23]. - The net cash flow from operating activities increased by 23.94% to CNY 503,569,200.53 from CNY 406,301,595.03 in 2018[23]. - The total assets at the end of 2019 were CNY 4,606,278,418.76, a slight increase of 0.48% from CNY 4,584,453,323.50 in 2018[23]. - The net assets attributable to shareholders at the end of 2019 were CNY 3,184,462,018.77, reflecting a growth of 3.29% from CNY 3,082,962,901.62 in 2018[23]. - The basic earnings per share for 2019 was CNY 0.3230, down 32.03% from CNY 0.4752 in 2018[23]. - The weighted average return on equity for 2019 was 8.47%, a decrease of 4.92% from 13.39% in 2018[23]. - The company reported a non-operating income total of 139,431,795.79, significantly up from 76,308,105.80 in 2018, marking an increase of approximately 83%[29]. - The company recognized an impairment loss on goodwill amounting to ¥126,748,373.76, negatively impacting the 2019 financial performance[7]. Market Presence and Strategy - In 2019, the revenue from regions outside mainland China accounted for 41.68% of total revenue, indicating significant international exposure[5]. - The company has established several overseas subsidiaries through joint ventures and acquisitions to expand its market presence[39]. - The company has adopted a direct sales model domestically while utilizing a distributor-based approach in overseas markets to enhance market penetration[39]. - The company is committed to mitigating risks associated with international market expansion, particularly in Europe and the U.S., where competition is intensifying[158]. - The company is actively monitoring international political and economic changes that could affect its overseas operations[162]. - The company aims to enhance its market competitiveness and profitability through integration efforts in market, personnel, technology, and management for its acquired entities[7]. Operational Adjustments and Innovations - The COVID-19 pandemic has caused temporary disruptions in production and operations, with ongoing impacts dependent on the effectiveness of pandemic control measures[8]. - The company is actively adjusting its operational strategies in response to market demands and leveraging its technological innovations and brand strengths[9]. - The company has implemented a forward foreign exchange trading management system to mitigate exchange rate risks associated with its international operations[5]. - The company is focusing on cash flow preservation and reducing unnecessary expenses to strengthen its risk resilience amid market uncertainties[9]. - The company has introduced multiple new products, including a high-performance TPU conveyor belt and various automation devices, enhancing its product line and production efficiency[73]. - The automation projects, such as the 2400T and 1000T robotic systems, are expected to significantly reduce manual assembly and improve production efficiency[74]. - The company is focusing on expanding its product offerings and improving existing technologies to capture new market opportunities[73]. Quality Control and R&D - The quality control system has been certified by ISO9001, ISO14001, and IATF16949, ensuring high-quality product delivery across all stages from design to final product[70]. - The company has established a professional quality control team to manage and monitor every process, ensuring compliance with international brand quality standards[70]. - The company is committed to ongoing research and development, as evidenced by its recent patent applications and certifications in the plastic industry[71]. - The company submitted a total of 29 patent applications during the reporting period, including inventions related to battery assembly and automatic metal buckle installation[71]. - R&D investment reached CNY 10,642.68 million, accounting for 3.26% of total revenue, with 39 utility model patents and 4 invention patents obtained[87]. Shareholder Returns and Financial Policies - The company plans to distribute a cash dividend of ¥2.5 per 10 shares, based on a total of 816,206,041 shares, reflecting a commitment to shareholder returns[9]. - The total cash dividend amount for 2019 was RMB 204,051,510.25, which represents 77.40% of the net profit attributable to shareholders[174]. - The cash dividend policy aligns with the company's commitment to providing stable returns to shareholders while ensuring healthy business development[171]. - The company’s cash dividend payout ratio for 2019 was 100% of the total profit distribution amount[169]. - The company has maintained a consistent dividend payout strategy over the past three years, with increasing cash dividends each year[172]. Subsidiaries and Investments - The company has established multiple subsidiaries in key overseas markets, enhancing its market influence and service capabilities[64]. - The company added two subsidiaries to its consolidated financial statements while also removing two subsidiaries during the reporting period[104]. - The company acquired 100% of Plastec International Holdings Limited for a total consideration of 125,000,000 RMB[140]. - The company has made a significant equity investment of RMB 3,007,049.60 in Yongli Belting Japan, with a 100% ownership stake, resulting in a loss of RMB 675,007.27 for the period[131]. Risk Management and Compliance - The company emphasizes the importance of risk awareness regarding forward-looking statements and future plans, urging investors to understand the differences between plans, forecasts, and commitments[4]. - The company has committed to reducing and regulating related party transactions following the acquisition of 100% equity in Qingdao Yingdong Molding Technology Group Co., Ltd. by issuing shares and cash payments[175]. - The controlling shareholders pledged to avoid related party transactions without the company's consent and to adhere to fair and reasonable principles in any necessary transactions[175]. - The company has not reported any significant changes in the feasibility of its investment projects or the expected benefits from these projects[138]. - The company has not reported any non-standard audit reports for the recent period[181].