Feilu(SZ:300665)2019-04-22 16:00Dividend Policy - The company plans to distribute a cash dividend of 0.50 RMB per 10 shares to all shareholders, based on a total of 121,291,200 shares[5]. - The cash dividend proposed is CNY 0.50 per 10 shares, totaling CNY 6,064,560, which represents 100% of the total profit distribution[122]. - The cash dividend payout ratio for 2018 was 23.99% of the net profit attributable to ordinary shareholders, which was RMB 25,274,381.41[126]. - The cash dividend payout ratio for 2017 was 12.40% of the net profit attributable to ordinary shareholders, which was RMB 30,653,986.33[126]. - The cash dividend payout ratio for 2016 was 18.66% of the net profit attributable to ordinary shareholders, which was RMB 36,654,178.08[126]. - The company has not proposed a cash dividend distribution plan for the reporting period despite having positive distributable profits[126]. - The company plans to distribute at least 20% of its distributable profits as cash dividends annually, provided there are no significant capital expenditures[132]. - The company has committed to a cash dividend policy that prioritizes cash distributions over stock dividends[132]. - The company will adjust its dividend distribution based on its operational performance and market conditions[132]. - The company’s profit distribution policy is designed to balance shareholder returns with growth investments[132]. - The company will disclose reasons for not distributing dividends if the cash distribution is less than 20% of the distributable profits[134]. Financial Performance - The company reported a significant increase in user data, reflecting a growing customer base and market demand for its products[12]. - The company’s operating revenue for 2018 was CNY 383,398,045.74, representing a 35.20% increase compared to CNY 283,587,512.81 in 2017[17]. - The net profit attributable to shareholders for 2018 was CNY 25,274,381.41, a decrease of 17.55% from CNY 30,653,986.33 in 2017[17]. - The net profit after deducting non-recurring gains and losses was CNY 21,648,384.25, down 25.35% from CNY 29,000,943.31 in 2017[17]. - The total assets at the end of 2018 reached CNY 850,816,625.02, an increase of 42.69% from CNY 596,267,063.53 at the end of 2017[17]. - The net assets attributable to shareholders increased by 4.44% to CNY 457,548,039.31 from CNY 438,090,517.25 in 2017[17]. - The company reported a basic earnings per share of CNY 0.208, down 27.78% from CNY 0.288 in 2017[17]. - The weighted average return on net assets was 5.63%, a decrease of 3.37% from 9.00% in 2017[17]. - The company achieved a sales revenue of CNY 383.40 million, representing a year-on-year increase of 35.20% compared to CNY 283.59 million in 2017[63]. - The revenue from the rail transportation equipment segment was CNY 157.32 million, accounting for 41.04% of total revenue, with a growth of 38.21% year-on-year[63]. Market Expansion and Strategy - The company is actively expanding its market presence and exploring potential mergers and acquisitions to enhance growth[10]. - The company has established long-term strategic partnerships with quality suppliers to mitigate risks associated with raw material price fluctuations[30]. - The company is focused on developing new products, particularly in the polyurethane waterproof coating segment, which is gaining traction in the market[10]. - The company has expanded its product application areas to include wind power blades, wind power towers, new energy vehicles, aerospace, military, and petrochemical facilities[28]. - The company has developed a new integrated operation model combining coating design, product application, and construction services, enhancing customer satisfaction[52]. - The company aims to maintain a market share in the railway cargo and passenger car anti-corrosion coatings and track traffic engineering protective materials in the top two by 2020[111]. - The company plans to achieve a market share in urban rail train coatings in the top two by the end of 2020[111]. - The company intends to have at least one composite material product in large-scale application by 2020[111]. Research and Development - The company focuses on customized research and development based on customer needs and innovative development for market potential, emphasizing formula, process, and application technology[29]. - The company is committed to developing lightweight, environmentally friendly, and functional new material technologies to meet market demands in rail transportation and new energy sectors[30]. - The company is focusing on the development of polymer composite materials to enhance vehicle lightweighting and reduce maintenance costs[79]. - The company is advancing the development of water-based coatings to meet stringent environmental regulations and enhance market competitiveness[79]. - The company’s R&D investment in 2018 amounted to ¥13,936,725.80, representing 3.64% of total revenue, an increase from 3.25% in 2017[80]. - The total number of R&D personnel increased to 50 in 2018, accounting for 12.38% of the workforce, up from 11.46% in 2017[80]. Environmental and Social Responsibility - The company emphasizes environmental protection and sustainable development, aiming to minimize waste and energy consumption in production processes[178]. - The company actively participates in social welfare activities, including donations for leukemia patients and support for disabled individuals[180]. - The company has completed the upgrade and renovation of pollution prevention facilities, investing over 7.8 million CNY, ensuring all emission indicators meet standards[183]. - The company adheres to the "Comprehensive Emission Standard for Air Pollutants" (GB16297-1996) for organic waste gas treatment, ensuring compliance with secondary standards[184]. - The wastewater treatment facility complies with the "Comprehensive Discharge Standard for Wastewater" (GB8978-1996) at the first-level standard[186]. - The company has established an emergency response plan for environmental incidents, which has been registered with relevant environmental authorities[186]. - The company has implemented a clean production and low-carbon development approach, including the transition from fuel oil boilers to natural gas boilers to reduce pollution[186]. - The company is committed to continuous improvement in environmental management and aims to become an environmentally friendly and resource-saving enterprise[186]. Corporate Governance and Compliance - The company maintains a comprehensive corporate governance structure to protect shareholder rights and ensure fair information disclosure[176]. - The company has established measures to enforce compliance with share lock-up commitments, including penalties for violations[128]. - The company has committed to strict adherence to public commitments made during the IPO process[148]. - The company has outlined commitments to avoid and regulate related party transactions to protect investor interests[135]. - The company ensures independence in assets, business, finance, personnel, and organization, avoiding any actions that may harm shareholder rights[136]. - The company has established measures to prevent conflicts of interest and will cooperate with any requests for information regarding potential competition[137]. - The company has a commitment to transparency and will provide written explanations and relevant materials upon request from dissenting parties[137]. Financial Management - The company implemented an annual financial budgeting model and improved its financial management level, contributing to operational efficiency[60]. - The company has made significant investments totaling ¥198,527,544.47 during the reporting period, a staggering increase of 9,826.38% compared to the previous year[89]. - The company has secured a short-term bank loan of 30 million yuan, which was mistakenly deposited in the raised funds account but has since been utilized for operational cash flow[98]. - The company reported a total receivables and accounts receivable of ¥252,749,839.84 as of December 31, 2017, after adjustments[151]. - The company has made a provision for bad debts amounting to ¥1,150,000 for accounts receivable during the 2018 audit[153]. Shareholder Structure - The total number of shares increased from 76,000,000 to 121,600,000, representing a 60.82% increase in total share capital[192]. - The company’s current shareholders include significant holdings by domestic natural persons, accounting for 64.21% of total shares[192]. - The largest shareholder, Zhang Weiguo, holds 25.36% of the shares, totaling 30,841,235 shares, with a pledge of 5,068,000 shares[200]. - The total number of shareholders at the end of the reporting period is 9,349, with no strategic investors or general corporations becoming shareholders through new share placements[200]. - The report indicates that there are no changes in the number of shares held by the top ten shareholders with unlimited sale conditions[200].