LZJT(SZ:300428)2020-04-15 16:00Financial Performance - The company reported a total revenue of 578,369,253 RMB for the year 2019, with a cash dividend of 0.87 RMB per 10 shares distributed to all shareholders[5]. - The company's operating revenue for 2019 was ¥6,426,889,811.08, a decrease of 4.85% compared to ¥6,754,637,522.85 in 2018[24]. - The net profit attributable to shareholders for 2019 was ¥436,682,441.95, an increase of 11.92% from ¥390,180,292.53 in 2018[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses surged by 638.89% to ¥382,166,254.21 from ¥51,721,827.09 in 2018[24]. - The total assets at the end of 2019 reached ¥6,852,510,974.00, reflecting a growth of 4.01% from ¥6,588,172,299.88 at the end of 2018[24]. - The net assets attributable to shareholders increased by 31.83% to ¥3,828,142,371.74 from ¥2,903,809,979.83 in 2018[24]. - The company reported a basic earnings per share of ¥0.77 for 2019, up 2.67% from ¥0.75 in 2018[24]. - The cash flow from operating activities for 2019 was ¥605,197,255.04, a decrease of 4.48% compared to ¥633,577,583.86 in 2018[24]. - In 2019, the company achieved operating revenue of CNY 642,688,980, a decrease of 4.85% year-on-year, while net profit attributable to shareholders increased by 11.92% to CNY 43,668,240[62]. - The aluminum alloy wheel segment accounted for 77.74% of total revenue, generating CNY 4,996,143,196, which represents a decline of 3.38% compared to the previous year[66]. - The functional intermediate alloy new materials segment saw revenue growth of 2.61%, contributing CNY 1,231,456,130, which is 19.16% of total revenue[66]. - The company’s overseas revenue constituted 54.78% of total revenue, amounting to CNY 3,520,521,298, reflecting a 2.49% increase year-on-year[66]. - The gross profit margin for the functional intermediate alloy new materials segment improved by 2.50% to 14.92%[66]. - The company reported a consolidated revenue of CNY 5,799,186,226.79, with a net profit of CNY 342,649,442.16, indicating a strong financial performance[119]. Dividend Distribution - The board of directors has approved a profit distribution plan, which includes a cash dividend and no bonus shares for the fiscal year[5]. - The company distributed a cash dividend of 0.87 CNY per share (including tax), totaling 50,318,125.01 CNY for the year 2019, which represents 11.52% of the net profit attributable to ordinary shareholders[131][136]. - The total distributable profit for the year was 324,064,147.79 CNY, with the cash dividend amounting to 100% of the total profit distribution[131]. - The company did not issue any bonus shares or increase capital from the capital reserve during the reporting period[132]. - The cash dividend for 2018 was 1.10 CNY per share, totaling 63,620,617.83 CNY, which was 16.31% of the net profit attributable to ordinary shareholders[136]. - The cash dividend for 2017 was 3.30 CNY per share, totaling 85,392,000.00 CNY, which was 21.09% of the net profit attributable to ordinary shareholders[136]. Market Expansion and Product Development - The company plans to expand its market presence and enhance its product offerings, focusing on new alloy materials and advanced manufacturing technologies[5]. - The company aims to establish itself as a global supplier of lightweight alloy new materials and automotive lightweight components, focusing on technology and product integration[36]. - The company has developed over 150 types of functional intermediate alloy new materials, widely used in various industries including automotive, aerospace, and electronics[36]. - The company is positioned as a national high-tech enterprise specializing in the research, development, and production of metal grain refinement and purification materials[36]. - The company is constructing a production line with an annual capacity of 25,000 tons for high-end grain refiners to meet increasing domestic and international market demand[39]. - The company has successfully developed aerospace-grade special intermediate alloys, with its technology and product quality ranking among the top in China[42]. - The company is investing in a new project for lightweight aluminum alloy materials specifically for 5G communication devices, expected to generate annual revenue of 800-1,000 million RMB upon reaching full production[43]. - The company has seen a 94.81% increase in construction projects compared to the previous year, primarily due to investments in lightweight aluminum alloy wheel projects and functional alloy new materials[49]. - The company has become a global supplier for numerous well-known automotive manufacturers, including BMW, Audi, and Ford, and is expanding into the lightweight market for new energy vehicles[45]. - The company has developed a new lightweight high-strength liquid die forging aluminum alloy wheel that can extend tire life by approximately 30% and reduce fuel consumption by 5% to 7%[48]. - The company holds 516 patents, including 33 invention patents, demonstrating its strong focus on technological innovation and product development[56]. - The company’s investment in the new production line for lightweight aluminum alloy wheels has been recognized as a project under China's "Made in China 2025" initiative[56]. - The company is actively optimizing its customer structure and expanding into high-end overseas markets, particularly with international automotive manufacturers[62]. - The company is focusing on expanding its passenger car wheel production capacity and adjusting its product and customer structure to enhance its market position[123]. - The company aims to become a leading enterprise in the cab wheel market in China, targeting new revenue growth points[123]. Research and Development - Research and development expenses for 2019 were ¥267,543,848.13, which is 4.16% of the operating revenue[79]. - The company has invested RMB 37.17 million in the Industrial 4.0 smart factory renovation project, which will be replaced by raised funds once they are available[104]. - The company has added three subsidiaries during the reporting period, including Lizhong Automotive Do Brasil Servicos Ltda, which was established through investment[165]. - The company has no major litigation or arbitration matters during the reporting period, ensuring a stable operational environment[170]. - The company has no major related party transactions involving asset or equity acquisitions or sales during the reporting period[183]. Financial Position and Risks - The company's cash and cash equivalents decreased from CNY 961.29 million at the beginning of the year to CNY 796.68 million at year-end, a decline of 2.96% in total assets proportion[88]. - Accounts receivable increased from CNY 1,070.86 million to CNY 1,211.91 million, representing a rise of 1.44% in total assets proportion[88]. - Short-term borrowings decreased significantly from CNY 1,561.61 million to CNY 1,189.58 million, a reduction of 6.34% in total assets proportion, attributed to the optimization of the asset-liability structure[88]. - The company has faced increased uncertainty in expected economic benefits due to the impact of Sino-U.S. trade frictions[113]. - Fluctuations in aluminum prices pose a risk to the company's cost control and profit margins, with strategies in place to mitigate these risks[124]. - The company is implementing measures to manage foreign exchange risks associated with its international operations[127]. Commitments and Compliance - The company has committed to not transferring shares held by the controlling family for 36 months following the completion of the asset purchase transaction[144]. - The company has fulfilled all commitments made by its actual controllers and shareholders during the reporting period[137]. - The company has fulfilled its commitments regarding share transfer restrictions for the shares acquired in the asset purchase transaction[145]. - The company has no overdue commitments that have not been fulfilled during the reporting period[163]. - The company has implemented significant accounting policy changes during the reporting period, as detailed in the financial report[164].