KINGSUN(SZ:300235)2020-04-07 16:00Financial Performance - The company's operating revenue for 2019 was ¥109,014,398.01, representing a 1.65% increase from ¥107,245,103.63 in 2018[24]. - Net profit attributable to shareholders for 2019 was ¥32,187,455.63, a significant increase of 161.35% compared to ¥12,316,056.55 in 2018[24]. - The net profit after deducting non-recurring gains and losses was ¥19,579,416.11, up 820.73% from a loss of ¥2,716,595.98 in 2018[24]. - The net cash flow from operating activities reached ¥24,284,385.48, a 92.65% increase from ¥12,605,499.78 in 2018[24]. - Basic earnings per share for 2019 were ¥0.19, reflecting a 171.43% increase from ¥0.07 in 2018[24]. - Total assets at the end of 2019 amounted to ¥655,996,153.98, a 5.08% increase from ¥624,266,087.24 at the end of 2018[24]. - The company's net assets attributable to shareholders increased by 5.41% to ¥626,606,170.21 at the end of 2019 from ¥594,418,714.58 at the end of 2018[24]. - The company reported a total of ¥12,608,039.52 in non-recurring gains for 2019, compared to ¥15,032,652.53 in 2018[30]. - The total operating revenue for 2019 was ¥109,014,398.01, representing a 1.65% increase from ¥107,245,103.63 in 2018[64]. - The education sector accounted for ¥104,788,316.20, or 96.12% of total revenue, showing a 1.40% increase from the previous year[65]. - The gross profit margin for the education sector improved to 66.52%, an increase of 4.15% compared to the previous year[68]. Dividend Policy - The company plans to distribute a cash dividend of 0.5 RMB per 10 shares based on a total share capital of 167,831,090 shares as of December 31, 2019[12]. - For the fiscal year 2019, the company proposed a cash dividend of 0.50 RMB per 10 shares, totaling 8,391,554.50 RMB, which represents 100% of the total profit distribution amount[129]. - The total distributable profit for 2019 was reported at 153,518,350.82 RMB, with the cash dividend amounting to 26.07% of the net profit attributable to ordinary shareholders[131]. - The company did not issue any bonus shares or conduct capital reserve transfers in 2019, maintaining a focus on cash dividends[130]. - The cash dividend proposal for 2019 is subject to approval at the annual general meeting[129]. - The company has not distributed any cash dividends in the previous two fiscal years (2017 and 2018), with profits carried forward to subsequent years[130]. - The company’s cash dividend policy aligns with its articles of association and has been approved by the board of directors[128]. Research and Development - The company aims to enhance its R&D capabilities and expand market share through non-public fundraising for projects like the "Teaching Research Cloud Platform" and "Synchronous Resource Learning System"[10]. - The company is committed to leveraging emerging technologies such as AI and big data to enhance the competitiveness of its educational products[9]. - The company emphasizes technology innovation in education, maintaining a strong R&D team and has received multiple honors, including being recognized as a national high-tech enterprise[41]. - The company is conducting a three-year research project on personalized teaching supported by big data, approved as a key project by the National Education Information Technology Research Project[42]. - The company is actively developing 5G smart education products in collaboration with China Mobile, focusing on digital teaching resources[54]. - The company is investing in projects like the "Teaching Research Cloud Platform" and "Synchronous Resource Learning System" to enhance R&D capabilities and market share[122]. Market Strategy - The company recognizes the risk of market competition due to the influx of new entrants in the online education sector and plans to strengthen IP protection and increase R&D investment[6]. - The company is focusing on diversifying its product offerings by developing resources for various subjects to mitigate the risk of customer concentration in major urban areas[7]. - The company aims to enhance its market position by leveraging its established relationships with publishers and educational institutions to provide quality educational resources[38]. - The company is focused on expanding its market reach from first-tier cities to second and third-tier cities and rural areas, capitalizing on the higher economic capacity and educational investment willingness in urban areas[39]. - The company aims to expand its quality resource coverage across primary, middle, and high school education, promoting educational equity through its leading position in the synchronous education industry[108]. - The company plans to develop a comprehensive resource operation cloud service platform to efficiently utilize quality educational resources and enhance user engagement[109]. Talent Management - The company acknowledges the risk of talent loss in the competitive internet sector and aims to improve its talent retention strategies[11]. - The company has implemented a comprehensive talent development plan to align talent management with strategic goals, enhancing organizational capabilities[59]. - The company will implement a long-term incentive mechanism to stabilize core talent and promote sustainable development[113]. - The company faces talent retention challenges and aims to improve its incentive mechanisms to attract and retain key personnel in the competitive internet landscape[123]. Corporate Governance - The company has established a clear profit distribution policy, ensuring shareholder interests are protected through a structured decision-making process[126]. - The company’s independent directors and minority shareholders have had opportunities to express their opinions and ensure their rights are protected during the decision-making process[128]. - The company has committed to avoiding related party transactions and has not violated this commitment as of the date of the statement[134]. - There are no non-operating fund occupations by controlling shareholders or their affiliates during the reporting period[135]. - The company has not reported any major changes in its investment projects or significant non-equity investments during the reporting period[85]. Social Responsibility - The company donated 145,000 sets of Jin Tai Yang education software products to a charity fund in Nanshan District, Shenzhen, to support education in poverty-stricken areas[52]. - The company has actively fulfilled its corporate social responsibility by ensuring fair treatment of all investors and maintaining transparency in operations[166]. - The company has not conducted any targeted poverty alleviation work during the reporting year and has no subsequent plans[168]. Shareholder Information - The company reported a total share count of 167,831,090, with 37.10% being restricted shares and 62.90% unrestricted shares[178]. - The number of shareholders decreased from 25,408 to 20,593 during the reporting period[185]. - Huang Yuanzhong holds 18.99% of the shares, amounting to 31,872,343 shares, with 23,904,257 shares under lock-up[185]. - The company’s actual controller does not hold any foreign residency rights[189]. - The total number of shares held by directors and senior management at the end of the reporting period is 73,550,306 shares, with a reduction of 2,198,000 shares during the period[197].