Astro-century(SZ:300654)2020-04-24 16:00Dividend Distribution - The company plans to distribute a cash dividend of 0.75 RMB per 10 shares to all shareholders, based on a total share capital of 140,025,000 shares [4]. - The total cash dividend amount is 10.50 million RMB, which accounts for 100% of the total profit distribution [86]. - In 2019, the cash dividend amount was 10,501,875.00, representing 31.25% of the net profit attributable to ordinary shareholders [89]. - In 2018, the cash dividend amount was 9,801,750.00, which accounted for 30.82% of the net profit attributable to ordinary shareholders [89]. - In 2017, the cash dividend amount was 9,335,000.00, corresponding to 29.76% of the net profit attributable to ordinary shareholders [89]. - The company plans to distribute a cash dividend of 0.75 RMB per 10 shares (before tax) and to increase capital stock by 3 shares for every 10 shares held, based on a total share capital of 140,025,000 shares [87]. Financial Performance - The company's operating revenue for 2019 was ¥385,710,340.65, representing a 1.12% increase from ¥381,436,742.54 in 2018 [17]. - The net profit attributable to shareholders for 2019 was ¥33,610,277.70, a 5.67% increase from ¥31,806,935.15 in 2018 [17]. - The net cash flow from operating activities increased by 89.36% to ¥82,478,881.21 in 2019, compared to ¥43,556,506.68 in 2018 [17]. - The total assets at the end of 2019 were ¥719,225,113.78, an increase of 11.77% from ¥643,510,165.61 at the end of 2018 [17]. - The net assets attributable to shareholders increased by 5.33% to ¥470,525,693.93 at the end of 2019, compared to ¥446,717,166.23 at the end of 2018 [17]. - The total profit reached CNY 45,922,093.09, an increase of 6.43% compared to the previous year [36]. - The basic earnings per share for 2019 was ¥0.24, a 4.35% increase from ¥0.23 in 2018 [17]. - The diluted earnings per share for 2019 was also ¥0.24, reflecting the same growth as the basic earnings per share [17]. Business Operations - The company is involved in the K12 education sector, providing various educational materials and resources [10]. - The company published over 3,000 types of educational books annually, covering all subjects and major textbook versions for K12 education [27]. - The company is actively exploring online education product development, including personalized services for teachers and students [28]. - The company has established a comprehensive R&D team with expertise in teaching, testing, and information technology to enhance its product offerings [28]. - The company launched a series of new products, including "China College Entrance Examination Report" and "Policy and Proposition Interpretation," in response to the new college entrance examination policies [36]. - The company established long-term partnerships with major educational publishers, enhancing its distribution network across the country [29]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements and potential operational risks in the future [4]. - The company faces policy risks due to its operations in the education publishing sector, which is subject to strict regulations and potential impacts from educational reforms [76]. - The company has faced risks related to inventory devaluation and accounts receivable collection, which it plans to mitigate through improved management and marketing strategies [79]. - The company acknowledges the existence of internal and external risks that may affect future profits, and the implementation of measures does not guarantee future profitability [101]. Corporate Governance - The company has a commitment to not transfer or entrust the management of shares for 36 months from the date of listing [90]. - The company has maintained compliance with its commitments regarding share transfer restrictions and management [91]. - The company has established a lock-up period for shares acquired during the tenure of directors and senior management [91]. - The company emphasizes the importance of monitoring policy changes that could impact the educational publishing industry and plans to adjust product offerings accordingly [78]. - The company has established independent financial, operational, and management systems, ensuring no shared assets or personnel with the controlling shareholder [181]. Research and Development - The company has a comprehensive R&D team capable of developing over 3,000 new products annually, ensuring competitiveness in the educational publishing market [33]. - The company recruited fresh graduates from key universities to enhance its talent pool, focusing on high-quality and high-education young talents [38]. - The company's R&D expenditure decreased by 52.10% to CNY 688,579.27, representing only 0.18% of operating revenue, down from 0.38% in 2018 [53]. Market Strategy - The company aims to enhance its competitive edge by optimizing product structure and exploring new business models in e-commerce and online education [78]. - The company plans to focus on expanding its product categories and developing new educational resources in response to ongoing educational reforms [53]. - The company aims to actively promote online education in 2020, with a focus on integrating various educational products and leveraging existing book business channels for marketing [75]. Financial Management - The company has raised a total of 5,000 million in structured deposits with interest rates ranging from 3.65% to 3.95% across different agreements [128]. - The company has successfully collected 75.21 million from one of its structured deposit agreements [128]. - The company is focusing on expanding its financial products to enhance liquidity and attract more investors [128]. - The company is committed to maintaining a strong financial position through strategic fundraising initiatives [128]. Social Responsibility - The company has established a partnership with the Guanghua Technology Foundation to donate educational books to remote areas, supporting local cultural and educational development [135]. - The company emphasized its commitment to social responsibility by ensuring compliance and creating a prosperous society while enhancing investor returns [135]. Employee Management - The company has a total of 597 employees, with 476 in the parent company and 121 in major subsidiaries [170]. - The company emphasizes a competitive salary policy and implements a fair performance evaluation mechanism for employees [172]. - The training system includes onboarding, job training, and professional skills training to enhance employee capabilities [173]. Audit and Compliance - The audit opinion issued was a standard unqualified opinion, affirming the fair presentation of the company's financial statements as of December 31, 2019 [196]. - There were no significant lawsuits or arbitration matters reported during the fiscal year, indicating a stable legal environment for the company [111]. - The company has not faced any penalties or corrective actions during the reporting period, suggesting compliance with regulatory requirements [112].