SUNHERE(SZ:300452)2020-04-24 16:00Financial Performance - The company's operating revenue for 2019 was CNY 464,067,090.69, representing an increase of 8.29% compared to CNY 428,556,522.87 in 2018[17]. - The net profit attributable to shareholders for 2019 was CNY 84,370,512.97, which is a 20.34% increase from CNY 70,109,458.06 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was CNY 74,418,762.80, up 22.55% from CNY 60,723,883.50 in 2018[17]. - The basic earnings per share for 2019 was CNY 0.610, reflecting a 22.00% increase from CNY 0.500 in 2018[17]. - The total assets at the end of 2019 amounted to CNY 810,166,507.12, a growth of 14.15% from CNY 709,747,374.16 at the end of 2018[17]. - The net assets attributable to shareholders increased by 6.63% to CNY 525,776,925.46 from CNY 493,088,109.65 in 2018[17]. - The net cash flow from operating activities for 2019 was CNY 79,474,814.12, an increase of 6.30% from CNY 74,764,438.63 in 2018[17]. - The weighted average return on equity for 2019 was 16.47%, up from 15.01% in 2018[17]. - The company achieved a total revenue of 464.06 million yuan in the reporting period, representing a year-on-year increase of 35.51 million yuan, or 8.29%[33]. - Operating profit for the year was 103.69 million yuan, reflecting a year-on-year growth of 17.35%[33]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 2.5 per 10 shares (including tax) and issue 3 bonus shares per 10 shares (including tax) based on a total of 137,556,900 shares[6]. - The cash dividend for 2019 is 40.76% of the net profit attributable to the listed company's ordinary shareholders[96]. - The total cash dividend, including other methods, amounts to RMB 59,490,835.64, which represents 79.04% of the distributable profit of RMB 75,263,535.69[92]. - The cash dividend for 2018 was RMB 27,840,000.00, which accounted for 39.71% of the net profit attributable to ordinary shareholders[94]. - The cash dividend for 2017 was RMB 18,560,000.00, representing 36.87% of the net profit attributable to ordinary shareholders[94]. - The company has maintained a consistent cash dividend policy over the past three years, with total cash dividends increasing each year[96]. Market Position and Products - The company specializes in the research, production, and sales of pharmaceutical excipients, ranking among the top suppliers of oral solid dosage excipients in China[25]. - Key products include microcrystalline cellulose, hydroxypropyl cellulose, and low-substituted hydroxypropyl methylcellulose, which have been recognized as high-tech products in Anhui Province[25]. - The company maintains a leading position in the domestic market for oral solid dosage pharmaceutical excipients[34]. - The company has a diverse customer base primarily consisting of pharmaceutical companies, with products also applicable in the health and food industries[25]. - The company is positioned as a leading domestic manufacturer of pharmaceutical excipients, particularly for oral solid dosage forms[39]. Research and Development - The company aims to enhance its market position by focusing on the development of new drug excipients and optimizing its product structure[37]. - The company intends to increase R&D investment and enhance product quality through comparative studies with domestic and international products[82]. - The company has received four national invention patents during the year, bringing the total to 15 patents authorized[44]. - The number of R&D personnel increased to 125, representing 14.90% of the total workforce[60]. - New product development initiatives are underway, with an investment of 50 million CNY allocated for R&D in innovative pharmaceutical excipients[172]. Risk Management - The company faces risks related to fluctuations in raw material prices and challenges in market demand upgrades due to the internationalization process and management risks from scale expansion[6]. - The company recognizes the risk of raw material price fluctuations, particularly for wood pulp and starch, which could impact gross margins[83]. - The company faces challenges in the traditional low-end excipient market due to increasing competition and a shift towards mid-to-high-end products[84]. - The company is committed to international market expansion but acknowledges risks related to legal, regulatory, and cultural differences[84]. Environmental and Social Responsibility - The company has a strong focus on environmental management and clean production practices to ensure sustainable operations[79]. - The company has achieved compliance with wastewater discharge standards, with COD levels at 17.3019 mg/L, ammonia nitrogen at 0.41 mg/L, and total nitrogen at 1.52 mg/L, all within regulatory limits[133]. - The company has actively participated in social responsibility initiatives, including donations totaling 12,000 RMB to support students in need and 2,000 RMB for poverty alleviation[129]. - The company has established a comprehensive safety and emergency response system, including protective gear and firefighting equipment[135]. Governance and Management - The company has established a comprehensive internal management and control system to ensure compliance and protect shareholder rights[127]. - The board consists of 9 members, including 3 independent directors, meeting the legal requirements[186]. - The company maintains transparent communication with investors, ensuring timely and accurate information disclosure[188]. - The company has implemented a comprehensive internal control system to ensure effective governance and risk management[188]. - The company’s governance practices align with the regulations set by the China Securities Regulatory Commission, with no significant discrepancies noted[190].