Jinma Rides(SZ:300756)2020-04-28 16:00Dividend and Capital Management - The company plans to distribute a cash dividend of 3.20 RMB per 10 shares (including tax) and to increase capital by 4 shares for every 10 shares held after the completion of the repurchase of restricted stock[8]. - The company reported a total share capital of 72,833,000 shares for the dividend distribution plan[8]. - The cash dividend distribution represents 100% of the total profit distribution amount, with a distributable profit of 480,634,587.93 yuan[118]. - The company has established a cash dividend policy, distributing a cash dividend of 3.20 yuan per 10 shares, totaling 23,306,560 yuan for the reporting period[117][122]. - The total number of shares for capital increase through capital reserve is set at 4 shares for every 10 shares held, based on a total share capital of 72,833,000 shares[118][122]. - The company commits to maintaining a stable cash dividend plan, ensuring annual cash dividends do not fall below the levels specified in the shareholder return plan[136]. - The company commits to a cash dividend level of no less than 20% of the distributable profits achieved in the year[138]. Financial Performance - The company's operating revenue for 2019 was ¥625,278,119, representing a 20.14% increase compared to ¥520,461,636 in 2018[17]. - The net profit attributable to shareholders for 2019 was ¥109,504,729, an increase of 11.69% from ¥98,043,804 in 2018[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 4.02% to ¥89,688,677.4 from ¥93,442,007 in 2018[17]. - The net cash flow from operating activities for 2019 was ¥40,135,337.1, a significant decrease of 63.96% from ¥111,368,965 in 2018[18]. - Basic earnings per share for 2019 were ¥1.52, down 16.48% from ¥3.27 in 2018[18]. - The total assets at the end of 2019 were ¥1,701,968,920.96, a slight increase of 0.05% compared to ¥1,701,103,689.51 at the end of 2018[18]. - The net assets attributable to shareholders increased by 8.36% to ¥1,056,445,891.83 from ¥974,928,668.37 in 2018[18]. - The gross profit margin for amusement facilities was 55.78%, an increase of 2.29% from the previous year, while the gross profit margin for domestic sales was 58.50%, up 2.98%[66]. Market and Industry Position - The company operates in the amusement facility manufacturing industry, which has seen substantial growth driven by rising consumer demand and urbanization[36]. - The company has established a competitive advantage in core technology, product branding, and project solutions, positioning itself as a leading enterprise in the domestic amusement facility manufacturing sector[43]. - The company focuses on high-tech entertainment products with independent intellectual property rights, providing comprehensive solutions for amusement parks and cultural tourism enterprises[29]. - The company is actively working to enhance operational efficiency and cost control in response to the pandemic's impact[7]. - The company is committed to increasing its research and development efforts to meet the growing demands for innovative amusement products[38]. - The company achieved a revenue of 625.28 million yuan in 2019, representing a year-on-year growth of 20.14%[52]. - The company actively expanded its international market presence, exporting products to regions including Europe, South America, Southeast Asia, Central Asia, West Asia, and Africa[53]. Risks and Challenges - The company faces risks from the COVID-19 pandemic, which may adversely affect short-term operating performance if the situation persists[7]. - The company acknowledges the potential for significant risks to its growth due to economic downturns and changes in the real estate market[8]. - The company has a significant amount of contracts pending fulfillment, and any delays in customer operations could lead to potential defaults, negatively impacting financial performance[7]. - The company emphasizes the importance of maintaining competitive advantages in creative design and technology development to ensure future growth[8]. Research and Development - The company invested 126.18 million yuan in R&D, a significant increase of 76.94%, accounting for 20.18% of total revenue[56]. - The company completed 15 R&D projects during the reporting period, enhancing its market leadership in high-end amusement facilities and integrated animation equipment[76]. - The number of R&D personnel increased to 179, representing 16.95% of the total workforce, up from 14.63% in 2018[76]. - The company holds a total of 107 authorized patents, including 34 invention patents, 49 utility model patents, and 24 design patents[57]. Corporate Governance and Compliance - The company has established comprehensive governance structures, including rules for shareholder meetings and board decisions, to regulate related party transactions[142]. - The company has committed to fulfilling its obligations under the relevant regulations and internal policies regarding related party transactions[143]. - The company has implemented a cumulative voting system for the election of directors and supervisors to protect minority shareholders' rights[182]. - The company guarantees the accuracy and completeness of its disclosures, taking legal responsibility for any misleading statements or omissions[146]. - The company will disclose any failure to fulfill commitments promptly and take corrective actions as required by regulatory authorities[147]. Social Responsibility - The company emphasizes sustainable development and social responsibility, engaging in charitable activities and promoting employee welfare[111]. - The company has actively participated in social responsibility initiatives, including support for education and assistance to impoverished areas[186]. - The company implemented a poverty alleviation project with a total investment of 4.07 million yuan[190]. - The company donated a total of 529,000 CNY to various social welfare and charity projects in 2019[186]. Audit and Financial Reporting - The domestic accounting firm engaged for the audit is Deloitte Touche Tohmatsu, with an audit fee of CNY 500,000[158]. - The company switched its auditing firm from Ruihua Certified Public Accountants to Deloitte Touche Tohmatsu for the 2019 financial audit, following proper approval procedures[158]. - The company has not made significant adjustments to the comparative financial information due to the new financial instrument standards[154]. - The company’s financial reporting will reflect the new accounting policies starting from the specified effective dates[155].