ConST(SZ:300445)2019-03-26 16:00Financial Performance - The company's operating revenue for 2018 was ¥240,499,463.26, representing an increase of 18.53% compared to ¥202,893,530.75 in 2017[16] - The net profit attributable to shareholders for 2018 was ¥74,010,155.12, a growth of 39.61% from ¥53,013,708.85 in the previous year[16] - The net profit after deducting non-recurring gains and losses was ¥69,595,090.85, up 37.76% from ¥53,013,708.85 in 2017[16] - The basic earnings per share for 2018 was ¥0.4480, reflecting a 39.96% increase from ¥0.3201 in 2017[16] - The total assets at the end of 2018 amounted to ¥593,008,019.06, an increase of 8.71% from ¥545,495,125.13 at the end of 2017[16] - The net assets attributable to shareholders at the end of 2018 were ¥534,344,720.71, which is a 13.85% increase from ¥469,353,577.47 in 2017[16] - The total profit reached 83.28 million yuan, representing a year-on-year growth of 29.16%, while the net profit attributable to shareholders was 74.01 million yuan, up 39.61% year-on-year[51] - The company's net profit compound annual growth rate (CAGR) from 2009 to 2018 was 15%, with an average sales net profit margin of 26% and an average EBITDA margin of 34%[29] Cash Flow and Investments - The net cash flow from operating activities for 2018 was ¥60,481,184.22, a decrease of 19.59% compared to ¥75,217,066.40 in 2017[16] - The company plans to distribute a cash dividend of ¥1.50 per 10 shares to all shareholders based on the total share capital as of March 26, 2019[4] - The cash dividend distribution represents 33.22% of the net profit attributable to ordinary shareholders for 2018, which was 74,010,155.12 CNY[120] - The company’s retained earnings will be carried forward to the next fiscal year after the dividend distribution[118] - The company reported an asset impairment of 1,577,725.24, representing 1.89% of total profit, due to provisions for bad debts and inventory[85] - Cash and cash equivalents decreased to 215,663,939.1, down 21.36% from 314,935,998.78, primarily due to investments in subsidiaries and stock repurchase payments[87] Research and Development - The company has committed to increasing its R&D investment to drive innovation in high-value products, with a typical product development cycle of approximately three years[30] - The company's R&D investment amounted to 44.17 million yuan, accounting for 18.37% of total revenue, with a goal to maintain R&D spending at no less than 15% of revenue annually[42] - The company launched 2-3 new products each year, with an average R&D cycle of approximately 3 years, ensuring continuous innovation in response to customer needs[35] - The company’s R&D investment accounted for 19.3% of revenue in 2018, with a compound annual growth rate of 27.55% over the past five years[52] - Research and development expenses increased by 60.23% to ¥23,686,290.62, reflecting a significant investment in R&D[77] Market Performance - In 2018, the company achieved a revenue growth of 14.8% in the domestic market, driven by the increasing recognition of mid-to-high-end products such as ConST810, ConST811, and ConST660[35] - The sales revenue of digital pressure detection products reached 209.42 million yuan, an increase of 13.56% compared to the previous year, while temperature calibration products saw a significant growth of 78.69%, reaching 27.65 million yuan[35] - The international market revenue continued to grow at a rate of 25%, with a compound annual growth rate of nearly 30% from 2012 to 2018[38] - The company achieved a 25.17% increase in overseas revenue, totaling CNY 91,999,854.58, compared to CNY 73,497,482.53 in 2017[68] - Domestic market revenue reached 148.50 million yuan in 2018, with a contract collection rate of nearly 80%[56] Corporate Strategy and Development - The company has established a new subsidiary, Jinan Changfeng Zhiyuan Instrument Technology Co., Ltd., with an investment of 15.3 million, aimed at expanding its market presence[26] - The company aims to leverage industrial IoT and big data technologies to enhance operational efficiency and predictive maintenance capabilities for its products[27] - The company is focusing on integrating digital detection applications and upgrading temperature and humidity calibration products[98] - The company plans to implement a three-year profit distribution plan, prioritizing cash dividends to ensure reasonable returns for investors[139] - The company is committed to becoming a world-class high-end calibration and testing industry group through innovation and technology integration[98] Shareholder and Equity Management - The company proposed a cash dividend of 1.50 CNY per 10 shares, totaling 24,588,648.00 CNY for the 2018 fiscal year[118] - The company has consistently increased its cash dividends over the past three years, with 2016, 2017, and 2018 dividends being 8,281,590.00 CNY, 13,249,152.00 CNY, and 24,588,648.00 CNY respectively[120] - The company has committed to not transferring or entrusting the management of its shares for 36 months following the initial public offering[121] - The company will repurchase shares if there are false statements or omissions in the prospectus[124] - The company has established a guarantee fund to support stock price stabilization, with 30% of proceeds from major shareholders' sales reserved for this purpose[129] Compliance and Governance - The company has maintained a continuous audit service with Beijing Yongtuo Accounting Firm for 11 years, with the current audit team having served for 3 years[145] - The company has not engaged in any significant related party transactions during the reporting period[154] - The company has not reported any changes in its controlling shareholders or actual controllers during the reporting period, ensuring continuity in management[194] - The company has no major litigation or arbitration matters during the reporting period[147] - The company has not violated any of the commitments made during the reporting period[124]