KORRUN(SZ:300577)2020-04-19 16:00Financial Performance - The company's operating revenue for 2019 was ¥2,694,818,584.84, representing a 31.58% increase compared to ¥2,048,070,223.36 in 2018[16]. - The net profit attributable to shareholders for 2019 was ¥226,004,183.29, up 30.09% from ¥173,732,781.71 in the previous year[16]. - The basic earnings per share for 2019 increased to ¥1.04, a 30.00% rise from ¥0.80 in 2018[16]. - The total assets at the end of 2019 reached ¥1,969,747,603.18, marking a 39.71% increase from ¥1,409,835,296.25 in 2018[16]. - The net cash flow from operating activities for 2019 was ¥142,144,974.74, a slight decrease of 2.61% from ¥145,950,802.96 in 2018[16]. - The company's main business revenue for 2019 was ¥2,606,190,345.02, reflecting a 36.59% growth compared to ¥1,908,013,418.34 in 2018[16]. - The weighted average return on net assets for 2019 was 30.77%, slightly up from 30.68% in 2018[16]. - The net profit after deducting non-recurring gains and losses was ¥208,544,631.11, a 36.48% increase from ¥152,802,111.31 in 2018[16]. - The company reported a quarterly revenue of ¥741,026,051.69 in Q4 2019, contributing to a total annual revenue growth[19]. Revenue Breakdown - The revenue from travel products accounted for 96.71% of total revenue, amounting to ¥2,606,190,345.02, which is a 31.94% increase from ¥1,975,298,732.40 in 2018[52]. - Domestic revenue was ¥1,639,587,933.08, up 10.54% from ¥1,483,235,412.45, while international revenue surged by 86.82% to ¥1,055,230,651.76 from ¥564,834,810.91[52]. - The gross profit margin for the textile industry was 27.77%, with a gross profit of ¥748,485,818.78, reflecting a slight increase from the previous year's margin of 28.40%[54]. Investments and Acquisitions - The company's long-term equity investments increased by 111.49% at the end of 2019 compared to the end of 2018, due to the replenishment of previously recognized capital[31]. - Fixed assets grew by 99.32% at the end of 2019 compared to the end of 2018, primarily due to the acquisition of assets from the merger with Indonesian companies[31]. - Intangible assets surged by 295.56% at the end of 2019 compared to the end of 2018, mainly from the increase in land use rights from the merger[31]. - The company expanded its consolidation scope by acquiring PT FORMOSA BAG INDONESIA and PT FORMOSA DEVELOPMENT, and established several new subsidiaries[59]. - The acquisition of the Indonesian factory significantly enhanced the company's international competitiveness and production capacity, leading to a notable increase in order volume and production efficiency[46]. Research and Development - Research and development expenses increased by 49.86% to ¥78,196,383.60, driven by the company's commitment to innovation and product development[62]. - The company emphasizes R&D, investing in market research and product innovation to integrate technology into traditional products[36]. - The company has acknowledged that its R&D capabilities are leading domestically but still require time to catch up with international standards[88]. Market Strategy and Brand Development - The company is focusing on enhancing brand awareness and optimizing customer structure to improve user experience and expand market reach[27]. - The company is actively exploring new channel resources to further enhance user experience and enrich the brand connotation of travel products[27]. - The company has established overseas sales divisions in regions such as the US, India, and Singapore, enhancing its global market presence[46]. - The company has built stable partnerships with global brands such as Nike, Dell, and HP, meeting their stringent certification standards[39]. - The company aims to enhance its product offerings and expand its customer base to maintain stable growth[98]. Dividend Policy - The company plans to distribute a cash dividend of ¥1.17 per 10 shares, based on a total of 217,414,785 shares[5]. - The cash dividend payout ratio for 2019 was 11.26% of the net profit attributable to shareholders, while it was 25.05% in 2018 and 29.87% in 2017[111]. - The total cash dividends distributed over the past three years were RMB 108,812,217.25, reflecting a decreasing trend in dividend per share[110]. Corporate Governance and Compliance - The company has established a governance structure to protect shareholder rights and ensure compliance with regulations[153]. - The company has committed to fulfilling measures to compensate for any dilution of immediate returns, with obligations to explain any failures at shareholder meetings[116]. - The company has outlined a commitment to avoid any related party transactions that could harm shareholder interests[114]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[196]. - The company plans to expand its market presence and enhance product development strategies in the upcoming fiscal year[190]. - The company aims to improve customer retention rates by 15% through enhanced service offerings and loyalty programs[195]. Employee Development - The company emphasizes talent development and training, launching initiatives like the "润苗计划" to enhance employee skills and leadership capabilities[49]. - The company has a focus on employee development and provides various training and promotion opportunities[154]. Stock and Shareholder Information - The total number of shares before the changes was 217,614,949, which decreased to 217,414,785 after adjustments, reflecting a reduction of 200,164 shares[161]. - The largest shareholder, Fan Jinsong, holds 61.46% of the shares, totaling 133,625,635 shares[175]. - The company has a total of 5,421 common shareholders at the end of the reporting period[175].