GRKJ(SZ:300600)2019-04-19 16:00Financial Performance - The company reported a total revenue of 1.2 billion RMB for the year 2018, reflecting a year-on-year growth of 15%[12] - The net profit attributable to shareholders was 150 million RMB, representing an increase of 20% compared to the previous year[12] - The company's operating revenue for 2018 was ¥488,806,525.45, representing a 17.68% increase compared to ¥415,373,907.91 in 2017[17] - The net profit attributable to shareholders was ¥108,321,895.77, a slight increase of 0.51% from ¥107,774,786.09 in the previous year[17] - The net profit after deducting non-recurring gains and losses decreased by 16.83% to ¥82,518,589.35 from ¥99,217,874.66 in 2017[17] - The net cash flow from operating activities significantly improved to ¥38,867,410.88, up 622.43% from ¥5,380,067.03 in 2017[17] - The total assets at the end of 2018 reached ¥1,295,345,277.66, a 21.99% increase from ¥1,061,827,807.34 in 2017[17] - The net assets attributable to shareholders increased by 24.01% to ¥1,099,950,443.04 from ¥886,965,913.55 in 2017[17] - The company reported a basic earnings per share of ¥0.67, down 2.90% from ¥0.69 in 2017[17] - The weighted average return on equity was 11.13%, a decrease of 1.86% from 12.99% in the previous year[17] Dividend Distribution - The company plans to distribute a cash dividend of 1.80 RMB per 10 shares, totaling 30.36 million RMB, and to increase its capital stock by 134.93 million shares[7] - The cash dividend represents 100% of the total distributable profit of 373,444,275.44 yuan[95] - The cash dividend for 2018 is a decrease from the previous year's distribution, reflecting a strategic adjustment in profit allocation[96] - The total number of shares for the dividend distribution is based on 168,659,000 shares, with an additional capital reserve conversion of 8 shares for every 10 shares held[96] - The company has consistently maintained a clear and compliant cash dividend policy, ensuring the protection of minority shareholders' rights[95] Research and Development - The company invested 3,526.82 million yuan in R&D, accounting for 7.22% of total revenue, and obtained 6 new patents during the reporting period[49] - The company has obtained various military-related certifications, including the "Weapon Equipment Scientific Research Production License" and "Quality System Certification," enabling it to operate in both military and civilian sectors[30] - The company holds 48 patents, including 12 invention patents and 8 national defense patents, showcasing its strong R&D capabilities and technological advantages in the industry[38] - The company has increased investment in its Shenzhen R&D center, contributing to the growth of its in-progress projects[36] - The company aims to strengthen its system integration capabilities to establish itself as a competitive system integrator in the ship electrical and automation sectors[89] Market Position and Strategy - The company’s military-related products accounted for a significant portion of its revenue, highlighting the importance of maintaining military qualifications for sustained profitability[6] - The company is focusing on expanding its production capacity for marine electrical equipment and enhancing its R&D capabilities to improve overall competitiveness[7] - The company has established stable long-term partnerships with major domestic shipyards and design institutes, enhancing its position as a key supplier in the ship electrical and automation systems market[31] - The company is transitioning from a product supplier to a system integrator, focusing on smart, environmentally friendly, and new energy products[48] - The company aims to leverage opportunities from military-civilian integration and the "Belt and Road" initiative to enhance its competitive edge[48] Governance and Compliance - The company has established a comprehensive governance structure to manage its rapid growth and ensure effective operational management[6] - The company emphasizes talent acquisition and training to improve its overall competitiveness and management systems[90] - The company has maintained independence from its controlling shareholder in terms of business, personnel, assets, and finance, ensuring no interference in decision-making[183] - The company held three shareholder meetings in 2018, with participation rates of 64.57%, 58.73%, and 55.73% respectively[184] - The company confirmed compliance with all commitments made to minority shareholders during the reporting period[102] Risk Management - The company faces risks related to fluctuations in downstream market demand, particularly in the shipbuilding industry, which could impact its operations[5] - The company is committed to addressing management risks associated with its expanding business scale and market competition[6] - The company emphasizes the need for continuous technological innovation to mitigate risks associated with product obsolescence and talent retention[6] Employee and Management - The total number of employees in the company is 580, with 566 in the parent company and 14 in major subsidiaries[171] - The company has established a compensation system that effectively combines individual and team performance to share the benefits of corporate development, ensuring fairness and competitiveness in employee remuneration[174] - The company continues to enhance its talent development strategy, implementing various training programs for different employee levels, including management and core talents[175] - The total remuneration for directors and senior management during the reporting period is 4.758 million yuan[168] Legal and Regulatory Matters - The company did not face any penalties or rectification issues during the reporting period[108] - There were no significant lawsuits or arbitration matters reported during the year[107] - The company did not report any financial report significant deficiencies, indicating strong financial reporting controls[192]