Increase(SZ:300713)2020-04-27 16:00Financial Performance - The company's operating revenue for 2019 was CNY 289,420,348.65, a decrease of 5.78% compared to CNY 307,191,244.53 in 2018[16] - The net profit attributable to shareholders was a loss of CNY 21,428,449.62, representing a decline of 278.40% from a profit of CNY 12,011,498.84 in the previous year[16] - The net cash flow from operating activities was CNY 57,123,776.14, a significant increase of 1,327.44% compared to a negative cash flow of CNY -4,653,901.11 in 2018[16] - The total assets at the end of 2019 were CNY 986,866,129.13, showing a slight increase of 0.22% from CNY 984,685,965.65 at the end of 2018[16] - The net assets attributable to shareholders decreased by 2.99% to CNY 696,131,346.11 from CNY 717,559,795.73 in 2018[16] - The diluted earnings per share for 2019 was CNY -0.1494, a decrease of 278.49% from CNY 0.0837 in 2018[16] - The company reported a quarterly revenue of CNY 95,563,931.96 in Q4 2019, which was the highest among the four quarters[18] - The net profit attributable to shareholders in Q4 2019 was a loss of CNY 26,692,857.60, significantly impacting the annual performance[18] - The company faced a substantial decline in net profit after deducting non-recurring gains and losses, with a loss of CNY 37,392,208.53 in 2019 compared to a profit of CNY 7,348,705.89 in 2018, a decrease of 608.83%[16] Research and Development - R&D investment in 2019 was ¥53.64 million, accounting for 18.53% of total revenue, an increase of 42.85% from ¥37.55 million in 2018[52][60] - The company has 163 R&D personnel, representing 31.90% of total employees, with a focus on high-frequency switching power supply technology[52] - The company plans to enhance its R&D efforts, focusing on product upgrades in power density, environmental adaptability, and output power range for electric vehicle charging products[36] - The company will continue to invest in R&D to achieve product intelligence, lightweight design, modularity, and platformization[120] - The company has identified the need to attract and cultivate talent in R&D, marketing, and management to support its rapid growth[121] Market and Product Strategy - The company focuses on the research, development, and sales of intelligent high-frequency switch power supplies and related products[26] - The product categories include electric power operation modules, electric vehicle charging modules, and auxiliary converters for rail transit[27] - The company aims to become a leading supplier of core power components and system solutions in the domestic market, focusing on electric vehicle charging power, power operation power, and auxiliary converter products[37] - The company plans to focus on the development of electric power electronic products, particularly in the fields of new energy vehicles, smart grids, and rail transit, to seize market opportunities[118] - The company aims to enhance its product offerings in electric vehicle charging power products and high-voltage direct current communication power products, targeting high reliability and performance[119] Financial Management - The company's financial expenses decreased by 56.71% to -4,560,743.02, primarily due to reduced interest income from idle funds[84] - Investment income increased by 205.56% to 1,285,944.64, mainly from returns on financial products purchased with self-owned funds[84] - The company's total operating costs in 2019 were 197,662,031.10, a slight increase from 191,989,917.67 in 2018[79] - The company's total revenue from sales in the new energy vehicle sector was 128,493,658.90, down from 133,749,763.85 in 2018, reflecting a 3.70% decrease[79] - The company reported a total of 11,300,000 RMB in outstanding balances for entrusted wealth management products[186] Shareholder and Dividend Policy - The company plans to increase its total share capital from 95,625,000 shares to 143,437,500 shares through a capital reserve transfer of 5 shares for every 10 shares held[146] - The cash dividend policy emphasizes a minimum cash distribution of 20% of the annual distributable profit when conditions are met[144] - The company did not distribute any cash dividends for the fiscal year 2018, with a total cash dividend amount of 0.00 RMB[146] - The company did not distribute profits or transfer reserves in 2019, with a net profit available for distribution to ordinary shareholders being positive but no cash dividend proposal made[149] - The company has maintained a stable profit distribution policy, focusing on reasonable and stable returns for investors while considering long-term sustainable development[140] Corporate Governance and Compliance - The company has established a stable core management team and governance structure to adapt to its expanding operations post-IPO[134] - The independent directors have fulfilled their responsibilities and provided independent opinions on the profit distribution proposals[145] - The company has not experienced any penalties or rectification issues during the reporting period[173] - The company has not engaged in any related party transactions during the reporting period[176] - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[175] Operational Challenges and Future Outlook - The company faced challenges in the new energy vehicle charging power market due to intensified competition and rapid product updates[60] - The company acknowledges the risk of policy changes affecting the electric vehicle industry, which could impact its profitability and market position[124] - The company is actively adjusting its market strategies based on industry policy trends to leverage its technological and product advantages[126] - The company has acknowledged the potential for increased infrastructure investment by the government to stabilize the economy post-pandemic, which may benefit its operations[116] - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 15% to 1.725 billion RMB[156]