JGGF(SZ:300510)2019-04-23 16:00Financial Performance - The company's operating revenue for 2018 was CNY 1,241,960,602.36, representing a 67.53% increase compared to CNY 741,314,476.23 in 2017[20]. - The net profit attributable to shareholders for 2018 was CNY 196,131,237.12, a 56.09% increase from CNY 125,654,981.90 in 2017[20]. - The net profit after deducting non-recurring gains and losses decreased by 30.27% to CNY 78,908,224.79 in 2018 from CNY 113,161,562.52 in 2017[20]. - The net cash flow from operating activities increased by 86.60% to CNY 121,406,159.73 in 2018 from CNY 65,061,932.74 in 2017[20]. - The total assets at the end of 2018 were CNY 5,381,711,588.18, an increase of 78.54% from CNY 3,014,235,827.53 at the end of 2017[20]. - The net assets attributable to shareholders increased by 83.70% to CNY 4,257,004,734.98 at the end of 2018 from CNY 2,317,354,608.54 at the end of 2017[20]. - The basic earnings per share for 2018 was CNY 0.39, a 34.48% increase from CNY 0.29 in 2017[20]. - The weighted average return on equity for 2018 was 5.30%, down from 9.00% in 2017, reflecting a decrease of 3.70%[20]. - The company achieved total operating revenue of 1,241.96 million yuan, a year-on-year increase of 67.53%[77]. - The net profit attributable to shareholders was 196.13 million yuan, reflecting a year-on-year growth of 56.09%[77]. - The company reported a total revenue of 1.5 billion RMB for the year 2018, representing a year-on-year growth of 12%[188]. - User data indicated an increase in active users by 20% compared to the previous year, reaching 500,000 users[189]. Dividends and Capital Reserves - The company plans to distribute a cash dividend of 0.60 RMB per 10 shares to all shareholders, based on a total of 524,452,408 shares[5]. - The company will increase its capital reserve by converting 7 shares for every 10 shares held by shareholders[5]. - A cash dividend of RMB 0.56 per 10 shares was distributed, totaling RMB 16,316,297.14, and a capital reserve conversion of 8 shares for every 10 shares was executed, increasing the total share capital to 524,452,408 shares[151]. - The cash dividend for 2018 represented 24.36% of the net profit attributable to ordinary shareholders, amounting to RMB 47,783,440.90[163]. Research and Development - The company is investing in research and development for advanced battery technologies, including lithium-ion battery components[11]. - The company has developed over 20 specifications of lithium battery diaphragms, positioning itself as a leading supplier in the mid-to-high-end market[31]. - Research and development (R&D) investment reached ¥58,305,876.16, which is 4.69% of the operating revenue, with a significant increase of 74.86% compared to the previous year[98][100]. - The number of R&D personnel increased to 335, making up 20.89% of the total workforce, up from 19.95% in 2017[100]. - The company plans to invest 100 million CNY in R&D for new technologies over the next two years[169]. - Investment in new product development increased by 25%, focusing on smart electrical equipment and automation technology[189]. Market Expansion and Strategy - The company is focused on expanding its market presence in the renewable energy sector, particularly in wind and solar power applications[11]. - The company aims to become a leading operator of centralized fast charging networks for new energy vehicles, targeting various user segments such as public transport and logistics[44]. - The company is actively developing a new production line for lithium-ion battery separators, with an annual capacity of 90 million square meters, currently in the installation and debugging phase[83]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2020[170]. - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance the company's market position and increase revenue by 30%[171]. Operational Efficiency and Cost Management - The company is committed to improving operational efficiency and reducing costs through optimized production processes[11]. - The company aims to reduce operational costs by 5% through efficiency improvements in the supply chain[171]. - The company has established a complete digital management system for production and quality control, significantly reducing production costs and improving efficiency[70]. - The company has implemented an innovative operation model focusing on "unmanned and self-service charging" to enhance user experience and operational efficiency[12]. Environmental Commitment - The company emphasizes its commitment to environmental sustainability through the development of eco-friendly gas-insulated switchgear products[11]. - The company is focusing on sustainability initiatives, with a goal to reduce carbon emissions by 15% over the next three years[176]. Acquisitions and Mergers - The company completed the acquisition of 100% equity in Liao Yuan Hong Tu Lithium Battery Diaphragm Technology Co., Ltd., enhancing its business structure to include smart grid equipment, new energy vehicle charging facilities, and lithium battery diaphragms[29]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its product portfolio[11]. - The acquisition of Liao Yuan Hongtu Lithium Battery Diaphragm Technology Co., Ltd. is expected to enhance the company's profitability and support its strategic layout in the new energy sector[129]. Financial Health and Assets - As of the end of 2018, cash and cash equivalents amounted to ¥609.16 million, representing 11.32% of total assets, a decrease of 5.32% from 2017[103]. - The company reported goodwill of ¥2.15 billion, which constituted 39.89% of total assets, an increase of 2.77% due to the acquisition of Liao Yuan Hong Tu[103]. - The company achieved a significant increase in fixed assets by 163.66%, primarily due to the acquisition of Liao Yuan Hong Tu, adding a net fixed asset value of 412.27 million yuan[56]. Compliance and Governance - The company guarantees the authenticity and completeness of the information provided for the transaction, assuming legal responsibility for any inaccuracies[175]. - The management team, including the general manager and financial officer, is dedicated solely to the company, with no dual roles in other enterprises[182]. - The company has established independent financial accounting departments and management systems to ensure financial independence[183]. - The company emphasizes strict adherence to legal responsibilities regarding shareholder rights and major decision-making independence[183].