SINOSUN(SZ:300333)2020-04-23 16:00Financial Performance - The company's operating revenue for 2019 was ¥239,673,516.43, representing an increase of 11.04% compared to ¥215,843,734.68 in 2018[23]. - The net profit attributable to shareholders for 2019 was ¥12,660,717.05, a 3.60% increase from ¥12,220,671.80 in 2018[23]. - The net profit after deducting non-recurring gains and losses was ¥3,640,286.61, showing a significant increase of 70.93% from ¥2,129,695.82 in 2018[23]. - The total operating revenue for 2019 was CNY 239,673,516.43, representing an increase of 11.04% compared to CNY 215,843,734.68 in 2018[66]. - The revenue from the bill anti-counterfeiting industry was CNY 227,061,318.24, accounting for 94.74% of total revenue, with a year-on-year increase of 7.22%[66]. - The company achieved total operating revenue of 240 million yuan in 2019, an increase of 11.04% year-on-year[55]. - The company's net profit attributable to shareholders was 12.66 million yuan, a slight increase of 3.60% compared to the previous year[56]. Research and Development - The company reported a significant increase in R&D and management expenses, which rose rapidly and accounted for a large proportion of operating income[9]. - Research and development expenses amounted to 58.32 million yuan, accounting for 24.33% of total operating revenue, with an 18.80% year-on-year growth[55]. - The total R&D investment reached ¥70,739,378.47, accounting for 29.51% of the annual revenue, indicating a strong commitment to innovation[76]. - The company has established several R&D centers in Shenzhen, Wuhan, Xi'an, and Beijing, enhancing its technological innovation capabilities[34]. - The company expanded its R&D personnel to 272, which constitutes 75.35% of the total workforce, marking a 50.28% increase year-on-year[63]. - The company applied for 12 new invention patents and received 3 invention patent authorizations during the reporting period, bringing the total effective patents to 57[61]. Marketing and Sales - The company is actively investing in marketing and promotion to support the application of new technologies and products in the financial industry, leading to increased sales expenses[9]. - The company has established a nationwide market sales network, utilizing flexible sales models including direct sales, bank agency sales, equipment leasing, and customized product solutions[36]. - Sales expenses increased by 6.29% to ¥31,188,781.59 in 2019, reflecting the company's focus on market promotion during its transformation phase[74]. Financial Position - The total assets at the end of 2019 were ¥887,661,901.23, a slight decrease of 0.40% from ¥891,215,777.64 at the end of 2018[23]. - The net assets attributable to shareholders increased by 2.12% to ¥844,350,737.54 from ¥826,800,822.78 at the end of 2018[23]. - The company's cash and cash equivalents net decrease was ¥202,856,807.34, a drastic change of 670.67% year-on-year[77]. - As of the end of 2019, cash and cash equivalents increased to ¥412,593,356.5, representing 46.48% of total assets, up from 33.23% at the beginning of the year, a change of 13.25%[86]. - Accounts receivable rose to ¥21,449,281.03, accounting for 2.42% of total assets, an increase of 1.02% from 1.40% at the beginning of the year, primarily due to outstanding settlements from clients[86]. - Inventory increased to ¥66,740,965.87, representing 7.52% of total assets, up from 6.72%, driven by higher stocking demands from consignment clients[86]. Dividend Policy - The profit distribution plan approved by the board is to distribute a cash dividend of 0.6 yuan per 10 shares (including tax) based on a total of 336 million shares, with no bonus shares issued[10]. - The cash dividend for 2018 was set at RMB 0.6 per share, totaling RMB 20.16 million, which is 100% of the profit distribution amount[115]. - The company’s cash dividend policy mandates that at least 20% of the distributable profits must be allocated as cash dividends each year[113]. - The total distributable profit for the year was RMB 49.13 million, with the cash dividend representing the entire distribution[115]. - The proposed dividend for 2019 is subject to approval at the annual shareholders' meeting[119]. Risks and Challenges - The company faces risks from intensified market competition as the penetration rate of traditional electronic payment systems increases, potentially impacting performance[7]. - The company acknowledges the risks associated with the rapid transformation of the financial technology industry and is committed to maintaining its leading position in the traditional anti-counterfeiting industry[10]. - The company recognizes the risks of technological innovation and market competition and is taking comprehensive management measures to address these challenges[10]. - The company acknowledges potential risks in the rapidly evolving financial technology sector, particularly regarding market acceptance of its innovations[108]. Corporate Governance - The company maintains a governance structure that ensures equal rights for all shareholders, particularly minority shareholders[197]. - The board of directors operates independently and adheres to legal and regulatory requirements in its decision-making processes[198]. - The company emphasizes transparency in information disclosure, with the chairman as the primary responsible person for disclosures[199]. - The company actively respects and protects the rights of stakeholders, promoting balanced interests among all parties involved[199]. Employee and Management - The total number of employees in the company is 361, with 237 in the parent company and 124 in major subsidiaries[191]. - The professional composition includes 272 technical personnel, 53 sales personnel, and 8 production personnel[191]. - The total remuneration paid to directors, supervisors, and senior management in 2019 amounted to 7.0766 million yuan[189]. - The remuneration decision for directors and supervisors is made by the shareholders' meeting, while senior management remuneration is determined by the board of directors[189].