赢时胜(300377) - 2018 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2018 was ¥639,100,493.81, representing a 19.01% increase compared to ¥537,017,966.08 in 2017[18]. - The net profit attributable to shareholders for 2018 was ¥177,780,372.07, a decrease of 14.72% from ¥208,463,060.81 in 2017[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥155,899,691.70, down 21.05% from ¥197,454,554.39 in 2017[18]. - The total assets at the end of 2018 were ¥3,209,914,333.02, an increase of 9.23% from ¥2,938,710,527.97 at the end of 2017[18]. - The basic earnings per share for 2018 was ¥0.2395, a decrease of 14.71% from ¥0.2808 in 2017[18]. - The weighted average return on equity for 2018 was 6.54%, down from 7.92% in 2017[18]. - The company achieved operating revenue of 639.10 million yuan, a year-on-year increase of 19.01%[39]. - Total operating costs amounted to 490.36 million yuan, reflecting a year-on-year increase of 42.20%[39]. - The company reported a net profit margin of 18%, which is an improvement from 15% in the previous year[104]. Accounts Receivable and Credit Risk - As of the end of 2018, the company's accounts receivable amounted to RMB 538.31 million, accounting for 16.77% of total assets[4]. - The accounts receivable turnover rates for 2016, 2017, and 2018 were 2.32 times, 2.04 times, and 1.44 times, respectively, indicating a downward trend[4]. - The company acknowledges the risk of potential bad debts due to a significant accounts receivable balance, although the credit risk is generally controllable[4]. - The company reported a total receivables amount of RMB 538,306,992.52 as of December 31, 2018, compared to RMB 394,567,838.42 in 2017, reflecting a year-over-year increase of approximately 36.4%[120]. Research and Development - The company has developed a mature R&D model and service system, but must continuously adapt to rapid technological advancements in the software industry[7]. - In 2018, the company's R&D expenditure reached ¥230,379,106.38, accounting for 36.05% of total revenue, maintaining a stable ratio compared to previous years[54]. - Research and development expenses for the year 2018 amounted to RMB 230,379,106.38, up from RMB 192,527,309.75 in 2017, indicating an increase of about 19.7%[121]. - The company is investing in research and development, allocating 100 million RMB towards new technology initiatives[103]. - The company is focused on enhancing its competitive edge by investing in research and development initiatives[65]. Human Resources and Management - The company has established a relatively complete human resources system to attract and retain core personnel, which is critical for maintaining competitive advantage in the software industry[6]. - The company has a stable core management team, which is essential for sustainable growth and effective decision-making as the company expands[5]. - The company’s workforce increased to 2,480 employees, representing a growth of 26.27% year-on-year[37]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounts to 3,779,100 CNY[197]. - The chairman and general manager, Tang Qiu, received a pre-tax remuneration of 870,000 CNY[197]. Market and Product Development - The company launched 52 new software products during the reporting period, including various financial valuation and asset management software[29]. - The client base has expanded to over 300 financial institutions, including banks, funds, and securities companies[36]. - The company continues to focus on IT demands driven by financial product innovation and regulatory changes, indicating strong ongoing demand in the asset management sector[28]. - The company is actively pursuing new technologies such as big data, blockchain, and artificial intelligence to drive innovation and meet market demands[36]. - New product launches are expected to contribute an additional 200 million RMB in revenue, with a focus on enhancing user experience[102]. Financial Technology and Ecosystem - The company is actively laying out a financial technology ecosystem to enhance overall profitability and core competitiveness, despite facing uncertainties in technology development and market application[7]. - The financial technology industry is expected to undergo a transformation towards digitalization and intelligence, driven by advancements in technologies such as big data and artificial intelligence[82]. - The asset management industry is experiencing rapid growth, with new regulations significantly altering its development landscape[82]. - The company is exploring new asset management and custody service models based on SaaS to adapt to changes in the financial services outsourcing market[83]. Shareholder and Dividend Policies - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares (including tax) to all shareholders, based on a total of 742,214,580 shares[7]. - The total cash dividend for 2018 represents 41.75% of the net profit attributable to ordinary shareholders[97]. - The company has implemented a cash dividend policy, distributing a cash dividend of 1.50 RMB per 10 shares, totaling 111,357,499.50 RMB for the 2017 fiscal year[87]. - The company has not issued any bonus shares or implemented capital reserve transfers during the reporting period[87]. Strategic Acquisitions and Investments - The company has invested in several technology firms, including a 40% stake in Shanghai Huairuo Intelligent Technology Co., with a total investment of 20 million yuan[30]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 300 million RMB for potential deals[102]. - The company is exploring potential acquisitions to enhance its technology portfolio, with a budget of 500 million RMB allocated for this purpose[191]. - The company made a significant equity investment of 24 million yuan, representing a 20% stake in a technology development firm[65]. Governance and Compliance - The company has committed to not using related transactions to transfer or shift profits, ensuring the protection of shareholders' legal rights[101]. - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties during the reporting period[98]. - The company will ensure that all commitments made during the IPO process remain valid regardless of changes in management[115]. - The company has made irrevocable commitments to ensure compliance with legal regulations[113]. Operational Challenges and Risks - The company faces risks related to seasonal fluctuations in revenue, with the fourth quarter typically accounting for nearly half of the annual revenue[4]. - The company reported a 49.14% decrease in product sales revenue, which was CNY 2,043,715.03, down from CNY 4,018,666.83 in 2017[44]. - The company’s subsidiary, Dongwu (Suzhou) Financial Technology Service Co., Ltd., experienced significant performance fluctuations due to stricter financial industry regulations and stock market volatility[81]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period, indicating a stable financial governance structure[119].