Absen(SZ:300389)2019-04-09 16:00Financial Performance - The company achieved significant revenue growth in 2018, with total revenue increasing by a specific percentage compared to the previous year, although exact figures are not provided in the extracted content [16]. - The company's operating revenue for 2018 was CNY 1,986,731,435.06, representing a year-over-year increase of 28.39% from CNY 1,547,386,406.42 in 2017 [22]. - The net profit attributable to shareholders for 2018 was CNY 240,624,841.87, a significant increase of 127.00% compared to CNY 106,003,001.25 in 2017 [22]. - The net profit after deducting non-recurring gains and losses was CNY 231,015,190.06, up 159.75% from CNY 88,936,492.35 in the previous year [22]. - The basic earnings per share for 2018 was CNY 0.7574, an increase of 126.97% from CNY 0.3337 in 2017 [22]. - The company achieved an operating cash flow of CNY 232,576,714.12, which is a 24.27% increase from CNY 187,161,572.50 in 2017 [22]. - In 2018, the company achieved a revenue of 1.987 billion yuan, representing a year-on-year growth of approximately 28% [48]. - The net profit attributable to shareholders reached 241 million yuan, a significant increase of about 127% compared to the previous year [48]. - The sales revenue from LED display screens was 1.887 billion yuan, with a year-on-year growth of approximately 29% [49]. - Total signed orders for LED displays amounted to approximately 2.132 billion yuan, reflecting a year-on-year increase of about 21% [49]. Market Presence and Strategy - Approximately 80% of the company's revenue comes from overseas sales, indicating a strong international market presence [33]. - The company aims to enhance its market presence through new product development and technological advancements in LED technology, including Mini LED and COB techniques [14]. - The company aims to become the "first brand in global display application scenario comprehensive services" [33]. - The company has a complete product line and a well-established global marketing and service network, positioning itself as a leader in the LED display industry [33]. - The company plans to continue expanding its market presence and enhance its competitive advantage through strategic investments and acquisitions [137]. - The company will focus on the LED display business, aiming for absolute growth in both domestic and international markets [139]. - The company aims to enhance its strategic planning and leadership capabilities through the implementation of the Business Leadership Model (BLM) and process system construction [141]. Product Development and Innovation - The company has developed a new generation of IMD and Mini LED small-pitch high-definition displays, which are expected to become mainstream technologies in the coming years [36]. - The company has successfully launched a control system with independent intellectual property rights that supports 4K 10bit HLG HDR standards, significantly enhancing display effects [40]. - The company launched several new products, including the XD plus series and the Absenicon series, enhancing brightness and reliability [99]. - The company launched the Absenicon series products, which include high-definition and ultra-high-definition versions, catering to diverse customer needs [64]. - The company will invest in smart manufacturing capabilities and expand its production capacity to align with the "Made in China 2025" initiative [143]. - The company will increase R&D investment to enhance product competitiveness, focusing on small-pitch and rental product lines [144]. Awards and Recognition - The company was recognized as the best hotel LED service provider in China in 2018, enhancing its brand reputation in the industry [33]. - The company won a total of 16 industry awards in 2018, including "Best Overall LED Wall Product" and "Best New Rental and Staging Product" at major exhibitions [52]. - The company has been recognized for its brand influence through participation in major global events, including the 2018 FIFA World Cup and the 2018 China Super League [44]. Cash Dividend and Profit Distribution - The company reported a profit distribution plan of 1.55 RMB per 10 shares for all shareholders, based on a total of 319,970,225 shares [5]. - The total distributable profit for the period was 710,243,337.97 CNY, with the cash dividend representing 100% of the profit distribution [160]. - The company declared a cash dividend of 1.55 CNY per 10 shares, totaling 49,595,384.88 CNY for the reporting period [160]. - The cash dividend payout ratio for 2018 was 20.61% of the net profit attributable to ordinary shareholders [162]. - The company has maintained a consistent cash dividend policy without any adjustments or changes during the reporting period [158]. - The company plans to distribute cash dividends of no less than 20% of the distributable profits for the year, with higher percentages based on development stage and capital expenditure arrangements [171]. Operational Efficiency and Investments - The company has established a modern automated production line at its Huizhou base, which spans a total area of 238,900 square meters, with the first phase already in operation since August 2014 [41]. - The establishment of the MES project is a strategic upgrade for the company, aligning with the "Made in China 2025" initiative to enhance competitiveness [69]. - The company is implementing a Manufacturing Execution System (MES) expected to go live on July 1, 2019, aimed at improving production efficiency and product quality [42]. - The company has trained over 1,200 qualified after-sales service engineers globally, capable of providing services in more than ten languages [43]. Financial Management and Shareholder Commitments - The company reported a commitment from major shareholders to avoid any competition with the company and its subsidiaries, ensuring no conflicts of interest arise [167]. - Major shareholders have pledged to minimize and avoid related party transactions, ensuring all transactions are conducted at market rates and do not harm the company's interests [167]. - The company has committed to avoiding related party transactions and will ensure that any unavoidable transactions adhere to market principles and fairness [171]. - The company’s board will consider industry characteristics, development stages, and operational conditions when proposing differentiated cash dividend policies [171]. - The company has established a mechanism for stable and scientific returns to investors, taking into account operational performance and shareholder expectations [174]. Risks and Challenges - The company faces risks from exchange rate fluctuations, particularly as overseas sales are primarily settled in USD, and will implement measures to mitigate these risks [146]. - The company acknowledges the risk of declining gross margins due to increased competition and plans to enhance product R&D and brand marketing to maintain competitiveness [150]. - The company will continue to optimize its organizational structure and management processes to address risks associated with rapid expansion and diverse cultural environments [151].