*ST左江(300799) - 2019 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2019 was ¥218,765,020.18, representing a 62.96% increase compared to ¥134,243,324.18 in 2018[16] - The net profit attributable to shareholders for 2019 was ¥88,708,333.17, a 37.57% increase from ¥64,482,911.06 in the previous year[16] - The net profit after deducting non-recurring gains and losses was ¥87,595,337.59, up 37.86% from ¥63,541,393.47 in 2018[16] - The basic earnings per share for 2019 was ¥1.65, reflecting a 30.95% increase from ¥1.26 in 2018[16] - The total assets at the end of 2019 reached ¥726,325,192.19, a significant increase of 160.35% from ¥278,981,296.39 at the end of 2018[16] - The net assets attributable to shareholders increased by 189.12% to ¥623,527,546.35 from ¥215,666,537.02 in 2018[16] - The weighted average return on equity for 2019 was 28.32%, down from 35.15% in 2018[16] - The company reported a quarterly revenue of ¥124,462,593.93 in Q4 2019, contributing significantly to the annual growth[18] - The total profit reached CNY 100.50 million, reflecting a growth of 37.62% compared to the previous year[42] - The net profit attributable to ordinary shareholders was CNY 87.60 million, up 37.86% year-on-year[42] Cash Flow and Investments - The net cash flow from operating activities was negative at -¥104,613,705.48, a decline of 406.47% compared to ¥34,134,620.75 in 2018[16] - The total cash inflow from financing activities increased to ¥377,060,000.00 in 2019, a rise of 1,408.24% from ¥25,000,000.00 in 2018[63] - The company’s total investment cash outflow reached ¥170,795,991.71 in 2019, a dramatic increase of 30,124.79% from ¥565,085.78 in 2018[62] - The company has successfully raised funds through its initial public offering, which has contributed to its cash reserves[34] - The company utilized ¥42,570,800 of the raised funds during the reporting period[77] Revenue Sources and Market Position - The information security sector accounted for 99.49% of total revenue, with a year-on-year growth of 63.13%[45] - The company maintained a leading position in the national network information security industry, driven by its advanced product technology and quality[38] - The company is focusing on the development of a mobile security dual-host platform, addressing the growing demand for mobile office information security[31] - The company has developed various security platforms, including the dual-host series platform, which has been continuously improved to meet customer demands and maintain industry leadership[28] Research and Development - The company’s R&D expenses amounted to ¥29,862,360.26 in 2019, which is 13.65% of total operating revenue, up from 16.67% in 2018[59] - The company’s R&D efforts focus on understanding customer needs and developing competitive products in the information security sector[37] - The establishment of a research and experimental center is prioritized to enhance the company's innovation capabilities and product reliability testing[90] - The company is conducting feasibility studies for network security-related dedicated chips, establishing a development direction focused on security protocols and acceleration functions[33] Shareholder and Dividend Policies - The company plans to distribute a cash dividend of ¥2 per 10 shares, with a capital reserve conversion of 5 shares for every 10 shares held[5] - The cash dividend distribution represents 15.33% of the net profit attributable to the company's ordinary shareholders for 2019, which is 88,708,333.17 CNY[107] - The company has a structured mechanism for dividend distribution, ensuring the protection of minority shareholders' rights[104] - The company did not distribute dividends in 2017 and 2018, focusing on capital expenditures to support growth[106] Risk Management and Compliance - The company is actively managing risks related to rising labor costs due to rapid expansion and increasing average wage levels in the labor market[96] - The company has not experienced major quality disputes since its establishment, but it recognizes the complexity of its products and is committed to maintaining high-quality standards[95] - The company has committed to fulfilling all promises made during the acquisition and restructuring processes[108] - The company has established measures to ensure that its directors and senior management adhere to the commitments made during the IPO[126] Corporate Governance and Management - The company has maintained a stable leadership team with no changes in the board of directors or senior management during the reporting period[180] - The management team is committed to transparency regarding their shareholdings and any changes therein[112] - The company’s board includes independent directors with diverse backgrounds, enhancing governance and oversight[181][182][183] - The total remuneration for directors and senior management during the reporting period amounted to CNY 5.5384 million[192] Employee and Operational Insights - The company employed a total of 159 staff members, with 101 being technical personnel[194] - The educational background of employees includes 24 with postgraduate degrees, 87 with bachelor's degrees, and 25 with associate degrees[194] - The company emphasizes the importance of training new employees on corporate culture, regulations, and quality awareness to enhance performance and support sustainable development[196] - The company has a strong technical team, with key personnel holding advanced degrees and extensive experience in their respective fields[185]