QuakeSafe Technology(SZ:300767)2020-04-02 16:00Financial Performance - The company's operating revenue for 2019 was ¥389,193,156.62, a decrease of 15.27% compared to ¥459,337,446.21 in 2018[21]. - The net profit attributable to shareholders for 2019 was ¥90,728,693.75, down 20.72% from ¥114,434,032.26 in 2018[21]. - The net cash flow from operating activities was -¥53,622,622.19, a decline of 145.99% compared to ¥116,585,609.66 in 2018[21]. - The total assets at the end of 2019 amounted to ¥1,106,618,869.25, an increase of 47.44% from ¥750,556,711.37 at the end of 2018[21]. - The net assets attributable to shareholders increased by 72.61% to ¥967,060,828.74 at the end of 2019 from ¥560,264,134.99 at the end of 2018[21]. - The basic earnings per share for 2019 was ¥1.2097, a decrease of 36.57% from ¥1.9072 in 2018[21]. - The company reported a total of ¥11,467,210.36 in non-recurring gains and losses for 2019, compared to ¥4,369,552.64 in 2018[27]. - The company achieved operating revenue of 389.19 million yuan in 2019, a decrease of 15.27% compared to 2018's revenue of 459.34 million yuan[61]. - The revenue from seismic isolation products was 277.56 million yuan, down 25.00% from 370.09 million yuan in the previous year, while the revenue from damping products increased by 5.06% to 93.49 million yuan[61]. - Net profit for 2019 was 90.73 million yuan, a decrease of 20.72% from 114.43 million yuan in the previous year, primarily due to reduced construction area for new school and hospital projects in Yunnan Province[61]. Market Position and Competition - The company anticipates increased competition in the seismic isolation market, which may lead to a decline in gross margins and market share, and aims to enhance product quality and explore new application markets[6]. - The company acknowledges the risk of product price declines due to market competition and plans to improve processes to reduce costs and expand production scale[10]. - The company has a market share of approximately 39.21% in the national housing seismic isolation market as of 2017, with a market share of about 30.12% in the broader seismic reduction market[48]. - The company is focused on expanding its market presence and enhancing its product offerings in the seismic isolation technology sector[29]. - The company aims to increase its market share nationwide as relevant laws and regulations improve and product standards are raised[42]. Risk Management - The company faces risks from rising raw material prices, which could impact production costs and operating performance, and plans to adjust procurement cycles and increase raw material reserves[8]. - The company is addressing the risk of accounts receivable collection by enforcing credit policies and increasing collection efforts for overdue payments[9]. - The company is implementing measures to mitigate risks related to accounts receivable collection, particularly in a declining construction market[130]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in the annual report, indicating that plans and forecasts may differ from actual outcomes[5]. Research and Development - The company is committed to technological innovation and will continue to recruit professionals and increase R&D efforts to shorten the time for new technologies to be applied in products[11]. - The company has established a strong R&D capability through partnerships with design institutes and has a dedicated academic workstation for innovation[51]. - The company reported a credit impairment loss of 10.78 million yuan, lower than the previous year's loss of 12.05 million yuan, indicating improved collection efforts on accounts receivable[66]. - Research and development expenses increased to 13.21 million yuan in 2019, up 15.55% from 11.43 million yuan in the previous year, reflecting a focus on enhancing product performance and developing new technologies[65]. - The company's R&D investment in 2019 amounted to ¥13,210,168.72, representing 3.39% of its operating revenue[89]. Shareholder Returns and Dividends - The company plans to distribute a cash dividend of 2.3 RMB per 10 shares (including tax) and to increase capital reserves by converting 8 shares for every 10 shares held[11]. - The cash dividend for 2019 represents 20.28% of the net profit attributable to the shareholders of the listed company, which was 90,728,693.75 CNY[143]. - The total distributable profit for the year was reported at 359,691,189.06 CNY[139]. - The company has committed to maintaining a minimum cash dividend ratio of 20% during its growth phase, despite significant capital expenditure plans[140]. - The company will consider its profitability, cash flow, development stage, and funding needs when formulating annual or interim dividend plans[149]. Corporate Governance - The company reported that all board members attended the meeting to review the annual report, ensuring the accuracy and completeness of the financial report[4]. - The company emphasizes a sustainable and long-term development strategy in its shareholder return planning, balancing short-term and long-term interests[149]. - The company has fulfilled all commitments made by its controlling shareholders and management regarding stock price stabilization measures following its IPO[145]. - The company has established a stock price stabilization plan effective for three years following its IPO, aimed at preventing the stock price from falling below the net asset value per share[147]. Social Responsibility and Community Engagement - The company donated seismic isolation technology worth a total of CNY 154,000 for the reconstruction of villages affected by the 5.9 magnitude earthquake in Yunnan[197]. - The company also contributed CNY 10,000 to the Shandong Linyi Angel International Special Education School[198]. - The company adheres to environmental protection laws and has not faced any pollution incidents or administrative penalties during the reporting period[200]. - The company emphasizes employee development through training and provides benefits such as health checks and holiday rewards[195]. Investment and Capital Management - The company has committed to invest ¥31,606.8 million in the seismic isolation product production line technology transformation, with a cumulative investment of ¥4,669.84 million, achieving 52.18% of the planned investment[108]. - The company has not yet made any actual investment in the new intelligent seismic isolation product manufacturing base project, with a project progress of 0.00%[105]. - The company has established two wholly-owned subsidiaries in October 2019, with registered capital of ¥50 million and ¥100 million respectively[82]. - The company engaged in entrusted financial management, with a total of 30.337 million RMB in bank wealth management products, sourced from both raised funds and self-owned funds[185].