Joyware(SZ:300270)2020-05-13 16:00Financial Performance - The company's operating revenue for 2019 was ¥235,646,346.90, a decrease of 23.19% compared to ¥306,804,111.66 in 2018[25]. - The net profit attributable to shareholders for 2019 was -¥87,474,793.86, representing a decline of 175.40% from -¥31,762,785.93 in 2018[25]. - The total assets at the end of 2019 were ¥1,321,960,201.04, down 11.21% from ¥1,488,834,832.11 at the end of 2018[25]. - The net assets attributable to shareholders decreased by 10.29% to ¥925,440,893.08 at the end of 2019 from ¥1,031,542,338.46 at the end of 2018[25]. - The basic earnings per share for 2019 was -¥0.29, a decline of 163.64% from -¥0.11 in 2018[25]. - The total profit for 2019 was -CNY 92.92 million, a decline of 141.91% year-on-year[89]. - The company reported a net profit attributable to shareholders of -87,474,793.86 yuan for 2019, with a parent company net profit of -84,875,030.80 yuan[155]. - The cash dividend total for 2019 was 0 yuan, representing 0.00% of the net profit attributable to shareholders[159]. Accounts Receivable and Financial Management - As of the end of the reporting period, the total accounts receivable amounted to 425.6571 million yuan, accounting for 51.32% of current assets and 32.20% of total assets[6]. - The company will further enhance communication with clients and improve financial internal control systems to manage accounts receivable risks effectively[7]. - The company has incorporated accounts receivable management into the KPI assessment for relevant personnel to mitigate the risk of increasing receivables[144]. - The company acknowledges the potential impact of local fiscal revenue declines on industry demand and project timelines, which could extend the cash recovery cycle[143]. - The company's accounts receivable balance reached 425.66 million yuan, accounting for 51.32% of current assets and 32.20% of total assets, indicating a significant increase in receivables due to project delays and funding issues[143]. Investment and Project Management - The company adjusted the investment scale of the "Video Cloud Platform Construction Project" from 357.5228 million yuan to 186.7814 million yuan, and the expected usable status time was postponed to April 30, 2021[10]. - The investment scale of the "Video Big Data Intelligent Application Technology R&D Project" was adjusted from 74.7568 million yuan to 53.0124 million yuan, with the expected usable status time also postponed to April 30, 2021[10]. - The company has committed to monitoring the implementation progress of fundraising projects in real-time and conducting quarterly analyses to mitigate risks[11]. - The company emphasizes the importance of meticulous management throughout the project implementation process to address the high risks associated with large system integration projects[150]. - The company plans to adjust the expected completion date of certain projects to April 30, 2021, due to market environment changes and to maximize the value of raised funds[126]. Research and Development - The company's R&D investment for 2019 was 36.81 million yuan, accounting for 15.62% of total revenue[80]. - The company has a total of 268 employees, with 94 in R&D, making up 35.07% of the workforce[112]. - The company is focusing on developing technologies in dynamic video content recognition and understanding, enhancing its competitive edge in the security industry[115]. - The company is actively preparing for new product development and technology reserves in response to industry trends[79]. - The company has established a partnership with NuraLogix Corporation to develop emotion AI products based on blood spectrum optical imaging technology[89]. Market and Competition - The company faces increased competition in the security industry, with traditional and new entrants intensifying market dynamics[8]. - The company aims to explore new business areas based on market demand and strategic planning, conducting thorough market research before launching new initiatives[12]. - The overall security industry is evolving towards a more intelligent and integrated approach, moving from traditional methods to comprehensive urban management platforms[69]. - The company is focusing on expanding its market presence in both public security and civilian sectors, with a strategic emphasis on understanding niche markets[69]. Corporate Governance and Compliance - The company is committed to enhancing corporate governance and internal controls to reduce operational risks and ensure compliance with regulations[142]. - The company has adhered to commitments regarding avoiding competition and related transactions, with no violations reported as of the end of the reporting period[162]. - The company has received a warning letter from the regulatory authority for failing to fulfill information disclosure obligations[173]. Social Responsibility - The company actively fulfills its social responsibilities and maintains transparent communication with investors through various channels[199]. - The company has established a charity fund to support various social welfare initiatives[200].