Maxwell(SZ:300751)2019-02-25 16:00Financial Performance - The company's operating revenue for 2018 was ¥787,861,352.48, representing a 65.55% increase compared to ¥475,919,326.58 in 2017[16]. - The net profit attributable to shareholders for 2018 was ¥170,927,560.15, a 30.58% increase from ¥130,895,322.10 in 2017[16]. - The net profit after deducting non-recurring gains and losses was ¥166,431,944.90, up 29.83% from ¥128,194,544.09 in 2017[16]. - The total assets at the end of 2018 reached ¥2,718,000,397.33, a 142.34% increase from ¥1,121,543,943.58 at the end of 2017[16]. - The net assets attributable to shareholders increased by 267.49% to ¥1,141,164,403.47 from ¥310,527,717.23 in 2017[16]. - The basic earnings per share for 2018 was ¥4.26, reflecting a 26.79% increase from ¥3.36 in 2017[16]. - The total profit reached 204.08 million yuan, up 32.77% year-on-year, while the net profit attributable to shareholders increased by 29.83% to 166.43 million yuan[29]. - The company achieved total revenue of ¥787,861,352.48 in 2018, representing a year-on-year growth of 65.55%[50]. - Net profit attributable to shareholders was ¥170,927,560.15, with a year-on-year increase of 30.58%[50]. - The solar photovoltaic industry accounted for 100% of the company's revenue, with a significant increase of 65.99% compared to the previous year[50]. Dividend Policy - The company plans to distribute a cash dividend of 7.00 RMB per 10 shares to all shareholders based on a total share capital of 52 million shares as of December 31, 2018[4]. - The total distributable profit for the year is reported at 325,435,104.68 CNY, with cash dividends representing 100% of the profit distribution[111]. - The company has a cash dividend policy that mandates a minimum of 10% of the distributable profit for cash distribution each year, with higher percentages for mature stages without major capital expenditures[106]. - The company has maintained a consistent dividend distribution policy, with a focus on long-term and sustainable development[109]. - The company’s board of directors must propose dividend distribution plans, which require approval from the shareholders' meeting[108]. Risks and Challenges - The company acknowledges certain risks affecting the achievement of its 2019 operational goals, including industry and policy changes, new product development risks, and financial risks[4]. - The company’s main products are closely tied to the solar photovoltaic industry, which is affected by government policies and market demand fluctuations, posing risks to operational performance[95]. - The company faces risks from potential loss of core technical personnel, which could adversely affect production and R&D capabilities[96]. - The company acknowledges the risk of project implementation delays due to uncertain factors affecting the construction process of its fundraising investment projects[98]. Research and Development - The company has obtained 54 authorized patents, including 14 invention patents, and has established a post-doctoral research workstation to enhance its R&D capabilities[39]. - The company is currently in the prototype testing phase for the lithium-ion battery fully automatic winding machine, aiming to capture the lithium equipment market[64]. - The company is also developing a silicon wafer cutting machine to enter the IC equipment market, with prototypes currently in testing[64]. - The company completed the development of new printing technologies for solar cells and bifacial modules, enhancing production efficiency and reducing costs[67]. - In 2018, the company had a total R&D investment of ¥39,355,400.23, accounting for 5.00% of its operating revenue[67]. Market Position and Strategy - The company has secured orders worth ¥230 million for photovoltaic laser equipment and ¥86 million for bifacial module equipment as of the end of the reporting period[25]. - The company has achieved import substitution in the solar cell screen printing equipment market, capturing the leading position in the domestic new market share[30]. - The company is expanding its efforts in OLED display equipment, aiming to break the monopoly held by Japanese and Korean firms in this sector[30]. - The company is expanding its overseas sales network, exporting to emerging photovoltaic countries such as India, Vietnam, Thailand, and Malaysia[43]. - The company aims to strengthen its marketing network and customer relationships, particularly with leading solar companies like Trina Solar and JinkoSolar, to increase market share[91]. Financial Management - The company raised ¥736,840,000.00 from its initial public offering, with a net amount of ¥661,180,000.00 after expenses[77]. - Cash and cash equivalents increased by ¥661,135,330.09, a staggering 6,768.76% rise from ¥9,625,246.75 in 2017[70]. - The company reported a significant increase in financing cash inflow, totaling ¥848,221,120.68, a 288.63% increase from ¥218,257,110.57 in 2017[70]. - The company has committed to invest a total of RMB 66,118 million in fundraising projects, with a cumulative investment of RMB 28,157.9 million as of the reporting period[78]. Corporate Governance - The company has a commitment to comply with relevant laws and regulations regarding the obligations and responsibilities of concerted action[136]. - The company will ensure that any proposals or voting at shareholder meetings are made with the consensus of the actual controllers, Zhou Jian and Wang Zhenggen[135]. - The company has established a mechanism for mutual consultation and written record before making proposals, with Zhou Jian's opinion being the final authority in case of disagreement[137]. - The company has a commitment to repurchase any shares sold in violation of its commitments within ten trading days, ensuring compliance with legal and regulatory requirements[133]. Environmental Responsibility - The company has not engaged in any environmental pollution incidents or violations during the reporting period, adhering strictly to environmental laws and regulations[185]. - The company generated 9.02 tons of waste liquid during production, all of which was properly disposed of by a professional waste disposal company[185]. Shareholder Structure - The company reported a shareholding structure where the actual controllers, Zhou Jian and Wang Zhenggen, hold 48.03% of the shares directly and control an additional 75.17% indirectly through Maito Investment[132]. - The largest shareholder, Zhou Jian, holds 20.31% of the shares, totaling 10,560,540 shares, with no change during the reporting period[198]. - The second-largest shareholder, Wang Zhenggen, owns 15.71% of the shares, amounting to 8,169,261 shares, also with no change[198]. - The company has a total of 10 major shareholders, with the top three holding a combined 49.39% of the shares[198].