SSET(SZ:300540)2020-04-29 16:00Financial Performance - The company reported a significant increase in revenue, with total revenue reaching RMB 1.2 billion, representing a year-on-year growth of 15%[10] - The company's operating revenue for 2019 was ¥435,349,250.51, representing a year-on-year increase of 26.99% compared to ¥342,829,367.19 in 2018[24] - The net profit attributable to shareholders for 2019 was ¥7,416,554.02, a significant recovery from a loss of ¥116,750,324.23 in 2018[24] - The net cash flow from operating activities for 2019 was ¥44,895,446.29, improving from a negative cash flow of ¥68,956,591.51 in 2018[24] - Total revenue for 2019 reached ¥435,349,250.51, representing a year-on-year increase of 26.99% compared to ¥342,829,367.19 in 2018[51] - The net profit attributable to shareholders was 7.42 million yuan, marking a turnaround from loss to profit[42] - The total cash dividend distributed was 3,740,759.79 yuan, representing 50.44% of the net profit[105] Accounts Receivable and Financial Risks - The accounts receivable balance at the end of the reporting period was substantial, posing a risk to asset quality and financial status if not collected timely[8] - The company plans to strengthen its accounts receivable management and improve debt collection strategies to mitigate financial risks associated with receivables[9] - The company has a significant accounts receivable balance, which poses a risk to asset quality and financial condition if not managed properly[94] - The company has committed to enhancing accounts receivable management and debt collection strategies to mitigate financial risks[94] Investments and Fundraising - The company has completed the fundraising projects for the natural gas liquefaction capacity expansion and the deep cooling technology R&D center, which are expected to enhance operational efficiency and asset utilization[10] - The company utilized ¥5,516.31 million of raised funds during the reporting period, with a remaining balance of ¥3,301.99 million in the dedicated account as of December 31, 2019[76] - The company has committed to invest a total of 29,730,000 CNY in various projects, with a cumulative investment of 5,516,310 CNY by the end of the reporting period, achieving a progress rate of 18.56%[77] - The natural gas liquefaction capacity expansion project has a total investment of 4,410,000 CNY, with 3,209,250 CNY invested by June 30, 2020, representing a progress of 72.7%[77] - The deep cold liquefaction technology research center project has a total investment of 5,320,000 CNY, with 2,307,060 CNY invested by June 30, 2020, achieving a progress rate of 43.4%[77] Research and Development - The company is focused on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[10] - R&D investment for the year amounted to 17.48 million yuan, resulting in multiple new technology patents[46] - The company has developed a low-temperature distillation method to produce crude helium from LNG BOG, which is significant for enhancing helium production economics in China[48] - The company completed significant R&D projects, including low-temperature distillation for crude helium production and hydrogen liquefaction systems[65] - The company has invested in R&D for hydrogen energy utilization, LNG storage, and hydrogen separation technologies, aiming to strengthen its competitive position in the market[89] Corporate Governance - The company’s board of directors and management have committed to ensuring the accuracy and completeness of the financial report, taking legal responsibility for any misstatements[6] - The company has maintained effective internal controls over financial reporting, with no significant deficiencies identified in non-financial reporting controls[7] - The company received a non-standard audit report but believes its accounting practices comply with relevant standards and regulations, emphasizing the importance of investor risk awareness[109] - The company has implemented a robust corporate governance structure, complying with relevant laws and regulations[182] - The independent directors did not raise any objections to company matters during the reporting period[188] Market and Industry Trends - The company plans to increase the share of natural gas in primary energy consumption from 5.9% in 2015 to 10% by 2020, driven by national energy structure optimization and environmental pollution control[83] - In 2019, China's apparent natural gas consumption reached 2,735 billion cubic meters, a year-on-year increase of 9%, although the growth rate decreased by 9.2 percentage points compared to 2018[85] - The overall natural gas supply and demand in China is expected to remain stable, with a projected growth rate of around 9% in 2019 despite some market challenges[84] Employee and Management Structure - The company has a total of 302 employees, with 253 in the parent company and 49 in major subsidiaries[174] - The total remuneration paid to directors, supervisors, and senior management during the reporting period was 3.7112 million yuan[171] - The company employs 109 production personnel, 66 sales personnel, 75 technical personnel, 8 financial personnel, and 44 administrative personnel[174] - The company has implemented a performance-based compensation system to motivate employees and improve work performance[175] - The company has established a training system that includes new employee orientation, general skills training, management skills training, and professional skills training[177] Shareholder Information - The company reported no significant changes in shareholder structure or internal employee stock situations during the reporting period[148][149] - The largest shareholder, Xie Lemin, holds 12.89% of the shares, totaling 16,077,115 shares[150] - The company has a registered capital of 12 million RMB and is involved in real estate development and management[154] - The total shares held by directors, supervisors, and senior management at the end of the reporting period amounted to 46,387,700 shares, with a decrease of 760,200 shares during the period[163] Legal and Compliance - There were no significant litigation or arbitration matters during the reporting period, indicating a stable legal environment for the company[118] - The company did not face any penalties or rectification requirements during the reporting period, reflecting compliance with regulations[119] - The company has no outstanding bonds that are due or unable to be fully repaid as of the annual report approval date[199]