TANAC(SZ:300461)2020-04-28 16:00Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the year, representing a growth of 15% compared to the previous year[12]. - The company reported a total revenue of 1.5 billion RMB for the fiscal year 2019, representing a year-over-year growth of 10%[110]. - The net profit attributable to shareholders was -¥196,532,267.86, representing a decline of 121.36% from -¥88,785,812.97 in the previous year[17]. - The net profit for the year was 300 million RMB, which is an increase of 15% compared to the previous year[111]. - The company reported a net profit adjustment of 30.57 million yuan for the first half and third quarter of 2018 due to accounting errors, which does not affect the previously disclosed annual report for 2018[137]. - The company reported a total revenue of 12,383,049.79 yuan for the year 2019, with a significant increase in sales compared to the previous year[145]. Profit Distribution - No cash dividends or stock bonuses will be distributed to shareholders for the year[5]. - The cash dividend amount for 2019 was 0.00, with a total cash dividend amount (including other methods) also at 0[96]. - The company had a cash dividend payout ratio of 0.00% for 2019, consistent with the lack of profit distribution[99]. - The company’s profit distribution plan for 2018 also indicated no cash dividends or bonus shares were issued[97]. - The company’s profit distribution for 2017 included a cash dividend of 0.65 per 10 shares and a bonus issue of 5 shares per 10 shares[96]. Market Strategy and Expansion - The company is focusing on expanding its market presence and developing new products, particularly in the automation equipment sector[12]. - Future guidance indicates a projected revenue growth of 10% for the upcoming fiscal year, driven by new product launches and market expansion efforts[12]. - The company’s market expansion strategy includes targeting mid-range markets to capture growth opportunities in consumer electronics and automotive electronics sectors[34]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2021[113]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[127]. Research and Development - The company is investing in research and development to innovate its automation technology, aiming to improve efficiency and reduce production costs[12]. - R&D investment amounted to ¥34,064,073.52 in 2019, representing 6.77% of operating revenue, with a total of 192 R&D personnel, accounting for 36.66% of the workforce[68]. - The company has committed to investing 100 million RMB in R&D for innovative technologies over the next three years[126]. - The company will continue to invest in R&D for automation equipment in the power inductor sector and electronic component assembly lines[87]. - The company’s research and development strategy focuses on customized solutions based on market demand, particularly for non-standard and special equipment[32]. Competition and Risks - The gross profit margin decreased to 25% due to intensified market competition and rising production costs[4]. - The company has identified risks related to increased competition and rising costs, and is implementing strategies to address these challenges[4]. - The company anticipates rising production costs due to the pandemic and will implement cost control measures to manage these risks[91]. - The company is actively exploring potential mergers and acquisitions to enhance its competitive position in the market[12]. Legal and Compliance Issues - The company is involved in multiple lawsuits, including a judgment requiring payment of 871,199.41 yuan and a penalty for breach of contract[142]. - The company has pending litigation with Shenzhen Zhenghong Hardware Electromechanical Co., Ltd. for an outstanding payment of 354,013.82 yuan[147]. - The company is currently involved in litigation concerning the infringement of utility model patent rights, with no resolution yet[143]. - The company has faced challenges in fulfilling performance commitments, with outstanding compensation payments totaling 20 million RMB yet to be received[128]. - The company has confirmed outstanding debts of 2,640,036.58 CNY to Dongguan Datang, with a payment plan established over 9 installments[141]. Asset Management - The company’s total assets reached 1.5 billion RMB, with a notable increase in cash reserves to support future investments[12]. - The total assets at the end of 2019 were ¥484,985,218.59, a decrease of 65.23% from ¥1,394,722,134.31 at the end of 2018[17]. - Total assets decreased significantly due to the loss of control over a subsidiary, impacting various asset categories including cash, accounts receivable, and inventory[74]. - The company reported accounts receivable of 85.99 million yuan, accounting for 17.73% of current assets, and will strengthen credit management to mitigate bad debt risks[91]. Corporate Governance - The company has established a comprehensive corporate governance structure to protect shareholder and creditor rights, ensuring compliance with legal and regulatory requirements[169]. - The company has implemented a new performance evaluation system in 2019 to enhance employee rights protection and talent development[170]. - The company has established various communication channels with investors to enhance transparency and trust[170]. - The company aims to optimize its governance structure and core management team to support its strategic goals for industry upgrade and scale expansion[66]. Financial Management - The company plans to enhance technology development and apply new technologies and equipment to actual production, aiming for both internal growth and external expansion[66]. - The company will optimize budget management processes and strengthen cost management to effectively control operational risks[120]. - The company is committed to increasing the efficiency of fund utilization and designing reasonable funding plans to manage capital costs[119]. - The company has established a sustainable and scientific return plan for shareholders to reinforce the investor return mechanism[121].