SPEED(SZ:300322)2019-04-01 16:00Financial Performance - The company reported a total revenue of 406,769,850 RMB for the year 2018, with a cash dividend of 0.30 RMB per 10 shares distributed to shareholders[11]. - The company's operating revenue for 2018 was CNY 1,722,361,995.31, a decrease of 16.80% compared to CNY 2,067,644,363.18 in 2017[24]. - Net profit attributable to shareholders was CNY 62,400,739.54, representing a 21.33% increase from CNY 51,428,489.81 in 2017[24]. - The net profit after deducting non-recurring gains and losses was CNY 50,208,592.55, a significant increase of 248.53% compared to CNY 14,405,657.27 in 2017[24]. - The net cash flow from operating activities reached CNY 395,149,916.00, a remarkable increase of 693.50% from CNY 44,389,582.32 in 2017[24]. - The company's total assets at the end of 2018 were CNY 1,837,559,034.73, a decrease of 10.71% from CNY 2,011,587,055.28 at the end of 2017[24]. - The basic earnings per share for 2018 were CNY 0.15, an increase of 15.38% from CNY 0.13 in 2017[24]. - The weighted average return on net assets was 10.38%, up from 9.55% in 2017[24]. - The company achieved operating profit of CNY 74.23 million, a significant increase of 278.72% year-on-year[43]. - The total operating revenue for 2018 was 1,722,361,995.31 yuan, a decrease of 16.80% compared to 2017[52]. Market and Product Development - The company is focusing on enhancing its R&D capabilities to keep pace with the rapid technological advancements in the 5G era, emphasizing the need for increased investment in R&D personnel and resources[9]. - The company has officially entered the 5G base station antenna market, which is characterized by concentrated customers and intense competition, necessitating continuous improvement in technology and market expansion efforts[11]. - The company aims to increase its product gross margin by developing new products that meet market demands and providing customized services to clients[10]. - The company plans to enhance its market development strategies to mitigate risks associated with potential delays in 5G base station construction and changes in customer demand[11]. - The company emphasizes the importance of timely market introduction of R&D outcomes to maintain competitiveness in the rapidly evolving telecommunications industry[9]. - The company recognizes the increasing competition in the telecommunications sector due to significant investments from both domestic and international players in new product development and capacity expansion[10]. - The company will continue to monitor technological changes and customer needs closely to enhance its competitive edge in the market[11]. - The company plans to focus on the development of antenna and RF components, particularly in the 5G sector, to enhance its market position[89]. - The company aims to increase its R&D investment in sub6G terminal antennas and millimeter-wave RF front-end modules to maintain technological leadership[89]. - The company anticipates a significant increase in demand for base station equipment and related RF components due to accelerated 5G network construction[86]. Talent and Human Resources - The company acknowledges the risk of talent loss impacting its operations and is committed to improving its talent incentive system and fostering a robust talent development platform[7]. - The company has implemented a talent incentive system to attract and retain skilled personnel, including a partnership system and equity incentive plans[90]. - The company employed 355 R&D personnel and obtained 139 patents, including 25 invention patents, to maintain technological leadership[47]. - The company has a total of 1,911 staff, including 1,335 in the parent company and 576 in major subsidiaries[194]. - The professional composition of employees includes 1,185 production personnel, 122 sales personnel, and 355 technical personnel[194]. - The company has a total of 3 doctoral graduates and 56 master's graduates among its employees[194]. - The company emphasizes a competitive salary structure to attract and retain talent[195]. - The remuneration for the chairman was 355,400 yuan, while the total remuneration for the general manager was 362,600 yuan[191]. Acquisitions and Investments - The company acquired 90% and 10% stakes in Guangdong Mingye Optoelectronics Co., Ltd. from its controlling shareholder, which is classified as a business combination under common control[25]. - The company acquired 51% of Suzhou Shobead Communication Technology Co., Ltd. for 33.15 million yuan, enhancing its market layout and customer relationships[45]. - The company purchased 100% of Guangdong Mingye Optoelectronics Co., Ltd. for 64.85 million yuan to expand production capacity and improve core competitiveness[45]. - The company invested 20 million yuan to establish Jiangsu Shobead Communication Technology Co., Ltd. focused on R&D and production of 5G base station antennas and related components[46]. - The company is involved in the acquisition of a subsidiary focused on fingerprint recognition modules, with an investment of 58,187,875.00 CNY, reflecting a 6% increase in capital[78]. - The company has established a new subsidiary for high-frequency transmission technology with an investment of 3,000,100.00 CNY, marking a 100% increase in funding[78]. - The company is expanding its market presence through the acquisition of a company specializing in production and sales, with an investment of 64,850,000.00 CNY[78]. Shareholder and Governance - The company has maintained a stable profit distribution policy, ensuring transparency and compliance with regulations[96]. - The company’s cash dividend distribution plan for the past three years has remained consistent, with each year distributing 0.3 CNY per 10 shares[99]. - The company completed a share buyback plan, acquiring a total of 1,787,106 shares, representing 0.439% of the total share capital, with an investment of RMB 15.06 million[103]. - The company’s executives, including the general manager and vice presidents, fulfilled their commitment to increase shareholdings, with amounts of at least RMB 1 million, RMB 300,000, RMB 200,000, and RMB 1 million respectively[103]. - The company’s management has adhered to all commitments regarding shareholding and has not violated any agreements[104]. - The company’s management has committed to not engage in insider trading or sensitive period transactions following their shareholding increases[103]. - The company’s executives have successfully completed their shareholding increase commitments by January 31, 2019[104]. - The company has maintained compliance with all regulatory requirements regarding share transactions and commitments[104]. - The company emphasizes a commitment to social responsibility, focusing on green technology development and enhancing shareholder value[148]. - The company has implemented a governance system to protect shareholder and creditor rights, ensuring timely and efficient fund usage[148]. Legal and Compliance - The company is currently involved in a lawsuit against Dongguan Jinming Electronics Co., Ltd. with a claim amount of 2,592,200 CNY, which has been adjudicated[113]. - The company reported a total revenue of 1,293.64 million CNY from a contract dispute with Shenzhen Sanhe Tongfa Precision Metal Products Co., Ltd., which is currently pending judgment[114]. - The company has ongoing litigation with Dongguan Jinzhuo Communication Technology Co., Ltd. for 172,500 CNY plus interest, with a total of 51,123 CNY in related legal fees[114]. - The company has successfully reached a settlement with Shenzhen New Fusheng Electronics Technology Co., Ltd., resulting in the collection of all outstanding payments after returns[114]. - The company has not faced any penalties or corrective actions during the reporting period[115]. - The company has not reported any issues regarding the integrity of its controlling shareholders or actual controllers[116]. Future Outlook - The company has outlined future guidance with expectations of continued revenue growth driven by new product launches and market expansion initiatives[77]. - The company is actively exploring mergers and acquisitions to strengthen its competitive position in the industry[78]. - The company plans to enhance internal control levels by promoting information technology and industrial automation, optimizing organizational structure, and reducing overall management expenses[90]. - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market reach[188]. - A new strategic partnership was announced with a leading tech firm to co-develop innovative wireless solutions[188]. - The board of directors emphasized a commitment to sustainable practices, aiming for a 50% reduction in carbon footprint by 2025[188].