深信服(300454) - 2019 Q4 - 年度财报

Dividend Distribution - The company plans to distribute a cash dividend of RMB 1.9 per 10 shares to all shareholders, with the total amount depending on the actual number of shares registered on the dividend distribution date[3]. - The company proposed a cash dividend of RMB 1.9 per 10 shares for the 2019 fiscal year, totaling RMB 77,712,496.60, which represents 10.24% of the net profit attributable to ordinary shareholders[99][100][102]. - The total cash dividend distributed in 2018 was RMB 60,468,480, which accounted for 10.02% of the net profit attributable to ordinary shareholders[100][102]. - The company did not issue any bonus shares or conduct capital reserve transfers during the reporting period[99][101]. - The cash dividend policy is consistent with the company's articles of association and shareholder resolutions, ensuring transparency and compliance[96][97]. - The company has maintained a stable dividend distribution policy, with a minimum cash dividend ratio of 20% for profit distribution during significant capital expenditure phases[99]. - The total distributable profit for the year was RMB 1,541,703,003.67, with the cash dividend amount fully utilizing the distributable profit[100][102]. - The company has not made any adjustments to its cash dividend policy during the reporting period[97]. - The company’s cash dividend distribution plan aligns with the three-year shareholder return plan established in 2018[96]. - The company’s independent directors fulfilled their responsibilities in the decision-making process for profit distribution[97]. Financial Performance - The company's operating revenue for 2019 was ¥4,589,898,922.96, representing a 42.35% increase compared to ¥3,224,450,529.19 in 2018[12]. - The net profit attributable to shareholders for 2019 was ¥758,899,876.93, which is a 25.80% increase from ¥603,275,680.00 in 2018[12]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥681,251,709.62, up 23.49% from ¥551,683,129.64 in 2018[12]. - The net cash flow from operating activities for 2019 was ¥1,144,970,801.04, an increase of 21.39% compared to ¥943,239,025.04 in 2018[12]. - The total assets at the end of 2019 were ¥6,772,436,588.87, reflecting a 31.95% increase from ¥5,132,398,231.08 at the end of 2018[12]. - The net assets attributable to shareholders at the end of 2019 were ¥4,320,972,713.71, which is a 25.70% increase from ¥3,437,415,245.86 at the end of 2018[12]. - The basic earnings per share for 2019 were ¥1.90, up 22.58% from ¥1.55 in 2018[12]. - The diluted earnings per share for 2019 were ¥1.89, representing a 21.94% increase from ¥1.55 in 2018[12]. - The company achieved a total revenue of RMB 4,589,898,922.96, representing a year-on-year increase of 42.35%[33]. - Net profit attributable to shareholders reached RMB 758,899,876.93, up 25.80% compared to the previous year[33]. Research and Development - The company has been investing in R&D to innovate and update existing products while developing new products and services, including next-generation firewalls and cloud security solutions[22]. - Research and development investment increased by 46.45%, exceeding the revenue growth rate[33]. - The company has applied for nearly 1,500 patents and received approximately 400 patent authorizations as of March 31, 2020[32]. - The number of R&D personnel increased to 2,247, representing 36.80% of the total workforce, compared to 1,664 personnel in 2018[55]. - The company plans to enhance R&D investment and attract talent to strengthen its capabilities in security detection, big data analysis, artificial intelligence, and core algorithms[88]. - R&D investment is expected to increase significantly in 2020, with a focus on improving product experience and developing new products in AI, big data, and cloud computing[90]. Market Expansion and Strategy - The company focuses on enterprise-level IT, providing information security, cloud computing, basic networking, and IoT solutions to various sectors including government, healthcare, finance, and telecommunications[21]. - The company is focusing on international market expansion, particularly in Southeast Asia, the Middle East, and Europe, to create new market opportunities[28]. - The company has established a certain level of brand influence in the Southeast Asian IT market and plans to continue expanding internationally, particularly in Southeast Asia, the Middle East, and Europe[93]. - The company aims to adjust its sales model from "product-oriented" to "demand-oriented" to better serve government, education, healthcare, finance, and large enterprises[88]. - The company plans to continue expanding its market presence and is exploring new product development strategies[132]. Risk Management - The company faces growth risks, including uncertainties from the COVID-19 pandemic, increased R&D investments not leading to expected revenue growth, and intensified industry competition[3]. - The company emphasizes the importance of understanding the risks associated with forward-looking statements regarding future plans and performance forecasts[2]. - The company is actively addressing potential risks related to talent retention and management capabilities in line with its business expansion[3]. - The company recognizes the risk of losing key personnel and is implementing measures to retain talent, including employee stock incentive plans[93]. - The company is aware of the operational uncertainties posed by the COVID-19 pandemic and is adjusting strategies to mitigate negative impacts[91]. - The company is facing risks related to intensified industry competition, which may compress growth space and lead to a decline in gross margins[92]. Financial Management - The company has engaged in cash management through various financial instruments, including securities, bank deposits, and trusts[172]. - The company has utilized part of its idle funds for cash management, as detailed in announcements published on August 23, 2019, and October 25, 2019[171]. - The company has reported a total of 0 million RMB in impairment provisions for the year[133]. - The company has confirmed compliance with legal procedures in its financial management activities, ensuring transparency and accountability[189]. - The company has plans for future expansion in financial services, aiming to leverage its existing resources for growth[188]. - The company has reported a total of 0 in impairment provisions for its financial management activities[137]. - The company has reported a total of 2,880 million from idle self-owned funds for cash management in 2019[198]. - The company has utilized 2,600 million in idle self-owned funds for cash management, focusing on money market instruments, bonds, and trusts[196]. Internal Control and Audit - The company has not reported any significant internal control deficiencies or received a non-standard audit opinion for the fiscal year[2]. - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and senior management[2]. - The audit firm PwC Zhongtian has been appointed for the 2019 annual audit, with a fee of 1.55 million yuan, following the termination of the previous auditor due to scheduling conflicts[116]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[112]. - There were no significant litigation or arbitration matters reported during the period[119]. - The company has not faced any penalties or rectification issues during the reporting period[119]. Shareholder Commitments - The company committed to maintaining stock price stability for three years post-IPO, with measures including potential share buybacks if the stock price falls below the audited net asset value per share[106]. - Major shareholders pledged to hold their shares long-term and comply with regulations regarding any future reductions in their holdings[104]. - The company will adjust the share price in case of dividends, stock splits, or other capital adjustments, ensuring fair treatment for shareholders[104]. - The company’s major shareholders have committed to not transferring shares for two years after the lock-up period, ensuring long-term investment stability[105]. - The company’s major shareholders have agreed to a lock-up period that extends for 18 months if they resign within six months of the IPO[104]. Corporate Governance - The company’s independent directors approved all significant proposals related to the incentive plans, ensuring compliance and protection of shareholder interests[120]. - The company has included 14 subsidiaries in its consolidated financial statements as of December 31, 2019, due to its control over Qianhai Amber Anyun Venture Capital Partnership[115]. - The company has adhered to all commitments made in the incentive plans without any violations[110]. - The company has established a mechanism to compensate investors for losses incurred due to unfulfilled commitments disclosed in the prospectus[108].