会畅通讯(300578) - 2018 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2018 was ¥223,505,954.73, a decrease of 16.34% compared to ¥267,146,619.16 in 2017[27]. - The net profit attributable to shareholders for 2018 was ¥16,130,686.36, down 52.90% from ¥34,251,238.00 in 2017[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥11,196,806.31, a decline of 64.45% from ¥31,495,270.07 in 2017[27]. - The total assets at the end of 2018 were ¥374,368,947.28, an increase of 4.31% from ¥358,910,956.28 at the end of 2017[27]. - The net assets attributable to shareholders increased by 9.52% to ¥315,530,641.63 at the end of 2018, compared to ¥288,096,163.05 at the end of 2017[27]. - The company's total revenue for 2018 was ¥223,505,954.73, representing a decrease of 16.34% compared to ¥267,146,619.16 in 2017[98]. - The revenue from voice conferencing decreased by 34.83% to ¥117,867,941.61, accounting for 52.74% of total revenue[98]. - Revenue from online conferencing increased by 20.85% to ¥98,572,084.03, making up 44.10% of total revenue[98]. - The company's total revenue for the multi-party communication services segment was approximately ¥223.51 million, representing a year-over-year decrease of 10.71%[101]. - The gross margin for the multi-party communication services segment was 47.09%, down 7.15% compared to the previous year[101]. Cash Flow and Investments - The net cash flow from operating activities increased by 77.90% to ¥39,902,574.58 in 2018, compared to ¥22,429,806.32 in 2017[27]. - The total cash and cash equivalents increased by approximately ¥21.19 million, a decrease of 80.26% compared to the previous year[111]. - As of December 31, 2018, cash and cash equivalents amounted to ¥190,678,674.7, representing 50.93% of total assets, an increase of 3.71% compared to the end of 2017[116]. - The company invested ¥86,113,700.00 during the reporting period, reflecting a 4.10% increase from ¥82,723,344.92 in the previous year[117]. - The company achieved a significant reduction in sales expenses by 16.04% due to structural adjustments[108]. - Investment income contributed approximately ¥6.51 million, accounting for 38.71% of total profit, primarily from equity method investments[113]. Shareholder Returns - The company plans to distribute a cash dividend of 1.00 yuan per 10 shares to all shareholders, based on a total of 167,247,695 shares[14]. - The cash dividend policy for the reporting period includes a distribution of CNY 1.00 per share, totaling CNY 16,724,769.50, representing 100% of the distributable profit[157]. - The cash dividend for 2017 was RMB 7,356,100.00, accounting for 21.48% of the net profit attributable to ordinary shareholders[160]. - The total cash dividends distributed over the past three years amounted to RMB 92,880,869.50, with a significant increase in 2018 compared to previous years[160]. - The company has maintained a consistent dividend policy, with cash dividends reflecting a significant portion of net profits in recent years[160]. Market and Competitive Landscape - The company faces risks related to intensified market competition, which may adversely affect its operating performance[6]. - The company has established itself as a leading player in the domestic multi-party communication service market, holding approximately 40% market share according to Wainhouse Research[69]. - The video conferencing market in China is projected to reach $490 million in 2018, indicating significant growth potential[64]. - The company is focusing on expanding its market presence through innovative educational technologies and strategic partnerships[50]. - The company is exploring market expansion strategies to penetrate tier two and tier three cities, which are driving rapid growth in the video conferencing market[64]. Strategic Initiatives and Partnerships - The company has a strategic partnership with InterCall, which has been crucial for its market expansion in China[9]. - The company is engaged in acquiring 85.0006% of the shares of Zhizhi Yuan and Mingri Industry through a share issuance and cash payment[20]. - The company completed the acquisition of Mingri Industry and Shuzhiyuan in December 2018, expanding its business into video application software technology and video monitoring system integration sales[35]. - The company aims to enhance its competitive edge through strategic partnerships and potential acquisitions in the video conferencing technology space[63]. - The company has established a global communication network platform, enabling local access numbers in nearly 130 countries and regions, providing 24/7 multilingual customer service[72]. Research and Development - The company has received nearly 30 software copyrights and has submitted 17 invention patent applications, all of which have been accepted, showcasing its strong R&D capabilities[78]. - Research and development expenses amounted to approximately ¥14.47 million, accounting for 6.47% of total revenue, up from 5.94% in the previous year[109]. - Future R&D will focus on video data application technologies, including video fusion and intelligent processing, with an emphasis on high-definition, networked, and intelligent products[146]. - The company is investing in new technology development, allocating 100 million yuan towards R&D initiatives aimed at improving product offerings[193]. Compliance and Governance - The company is focused on maintaining transparency and compliance with the China Securities Regulatory Commission and Shenzhen Stock Exchange regulations[186]. - The company has committed to ensuring compliance with regulations regarding related party transactions to protect its interests[186]. - The company guarantees not to occupy funds from its subsidiaries or require them to provide guarantees for other enterprises it controls[182]. - The company has established measures to minimize related party transactions and ensure proper governance[186]. - The company will ensure that any share reduction does not adversely affect its governance structure and ongoing operations[199].