JONES TECH PLC(SZ:300684)2020-04-22 16:00Financial Performance - The company's operating revenue for 2019 was ¥775,748,561.92, representing a 1.65% increase compared to ¥763,154,249.66 in 2018[25]. - Net profit attributable to shareholders for 2019 was ¥122,864,489.18, a decrease of 12.68% from ¥140,707,710.40 in 2018[25]. - The net profit after deducting non-recurring gains and losses was ¥116,762,001.95, down 15.10% from ¥137,530,563.09 in 2018[25]. - The basic earnings per share for 2019 was ¥0.4898, a decrease of 12.91% compared to ¥0.8999 in 2018[25]. - The company reported a net cash flow from operating activities of ¥169,220,890.99, which is an 8.65% decrease from ¥185,242,489.65 in 2018[25]. - The company achieved operating revenue of 776 million yuan, an increase of 1.65% compared to the previous period, while net profit attributable to shareholders was 123 million yuan, a decrease of 12.68%[47]. Dividend Distribution - The company reported a cash dividend of 4.2 RMB per 10 shares (including tax) based on a total share capital of 252,050,400 shares as of December 31, 2019[13]. - The cash dividend for 2019 amounted to 105,861,168 RMB, representing 100% of the profit distribution total[104]. - The cash dividend payout ratio for 2019 is 86.16% of the net profit attributable to shareholders[109]. - The company plans to maintain a minimum cash dividend ratio of 20% of the distributable profit in future distributions[106]. - The company has consistently provided cash dividends over the past three years, reflecting a commitment to shareholder returns[109]. Research and Development - The company is engaged in R&D-driven manufacturing, focusing on reliability solutions for electronic products, including thermal interface materials and EMI shielding materials[34]. - The company has increased its R&D investment and is recognized as a national high-tech enterprise, focusing on high thermal conductivity synthetic graphite technology and other advanced materials[34]. - The company's R&D investment for the reporting period was CNY 45.03 million, accounting for 5.80% of total revenue, representing a year-on-year increase of 37.90%[42]. - The number of R&D personnel increased to 139, representing 18.58% of the total workforce, up from 12.84% in 2018[65]. - The company has made significant progress in the research of new materials and technologies for 5G communication, with multiple projects entering the batch delivery phase during the reporting period[96]. Market and Sales Performance - The revenue from the consumer electronics sector was 671 million yuan, accounting for 86.47% of total revenue, with a year-on-year growth of 3.22%[50]. - The company reported a significant increase in domestic sales, which reached 390 million yuan, a 109.99% increase year-on-year, while foreign sales dropped by 33.25% to 385 million yuan[52]. - The company's gross margin for the consumer electronics sector was 33.56%, a decrease of 1.45% compared to the previous year[53]. - The company successfully commercialized its scalable graphite heat dissipation module technology in large quantities for major clients' foldable smartphones[47]. Risks and Challenges - The company faces risks related to high customer and industry concentration, which could lead to performance slowdown if demand in key sectors does not grow rapidly[5]. - The price of synthetic graphite products has been declining, and the company may face further profit margin compression if it cannot innovate and expand market share[6]. - The company has a significant risk of core R&D personnel turnover, which could impact product competitiveness and lead to potential leakage of trade secrets[8]. - The ongoing COVID-19 pandemic poses uncertainty regarding economic recovery and may negatively impact production and performance[13]. - The overall trend of raw material prices has been declining, but future increases could pressure the company's profitability[9]. Governance and Management - The company has established a comprehensive governance system and incentive mechanisms to retain core technical personnel amidst increasing market competition[8]. - The company emphasizes a customer-centric strategy, focusing on serving the top five clients in target industries, enhancing service quality and customer dependency[43]. - The company has implemented a new organizational structure to improve customer service and invested in a Manufacturing Execution System (MES) to enhance operational efficiency[97]. - The company has committed to social responsibility and risk management, focusing on quality control and compliance with laws and regulations[98]. Acquisitions and Investments - The company completed the cash acquisition of Wuxi Zhongshi Kuluojie Technology Co., Ltd., adding one new subsidiary to its consolidated scope[58]. - The company established a wholly-owned subsidiary, Beijing Zhongshi Weiye Technology Yixing Co., Ltd., further expanding its consolidation scope by one additional subsidiary[125]. - The company plans to raise a total of RMB 831 million through a non-public offering of A shares, which has been approved by the China Securities Regulatory Commission[156]. - The company has committed to further acquisitions of shares in Wuxi Zhongshiku Luojie, with future purchases based on a valuation of 10 times the net profit after deducting non-operating losses[159]. Financial Management - The company has undertaken measures to ensure investor returns are not adversely affected by the IPO[113]. - The company will strengthen financial management and cost control to improve capital efficiency and reduce expenses[114]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[118]. - The company has not engaged in any significant pollution activities and does not fall under the category of key pollutant discharge units[155]. Shareholder Structure - The total number of ordinary shareholders at the end of the reporting period was 252,050,400[173]. - The largest shareholder, Ye Lu, holds 24.82% of the shares, totaling 62,568,195 shares[173]. - The controlling shareholders, Ye Lu and Wu Xiaoning, hold a combined total of 140,166,673 shares, representing 55.61% of the total share capital[174]. - The company’s stock structure includes 0 preferred shareholders and 14,993 ordinary shareholders[173]. Compliance and Integrity - The company has maintained a clean integrity status with no issues reported for itself or its controlling shareholders[130]. - The company has not faced any major litigation or arbitration matters during the reporting period[128]. - There were no penalties or rectification measures imposed on the company during the reporting period[129].