奥飞数据(300738) - 2018 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2018 was CNY 411,024,850.77, representing an increase of 8.53% compared to CNY 378,708,341.62 in 2017[19] - The net profit attributable to shareholders for 2018 was CNY 57,928,262.25, a decrease of 7.66% from CNY 62,732,697.32 in the previous year[19] - The net profit after deducting non-recurring gains and losses was CNY 40,280,898.70, down 33.87% from CNY 60,910,600.65 in 2017[19] - Basic earnings per share decreased by 28.91% to CNY 0.91 from CNY 1.28 in the previous year[19] - The total profit for the year was 67.97 million yuan, a decrease of 7.22% compared to the previous year, with net profit attributable to shareholders of the parent company at 57.93 million yuan, down 7.66%[44] Cash Flow and Assets - The net cash flow from operating activities was negative CNY 61,689,338.81, a decline of 224.99% compared to CNY 49,355,806.14 in 2017[19] - Cash and cash equivalents grew by 854.09% at the end of 2018, primarily due to funds raised from issuing shares[35] - Cash and cash equivalents at the end of 2018 amounted to 310,500,121.87 yuan, representing 28.72% of total assets, an increase of 20.26% from 2017[93] - Accounts receivable increased to 123,111,273.94 yuan, accounting for 11.39% of total assets, a decrease of 13.23% in proportion compared to 2017[93] - Inventory increased to 118,687,593.01 yuan, representing 10.98% of total assets, primarily due to project costs and unsold servers[93] Market and Industry Insights - The total scale of China's IDC market was CNY 946.1 billion in 2017, with a year-on-year growth rate of 32.4%, indicating a transition to a mature market[32] - The company operates in a market projected to exceed CNY 1200 billion in 2018, showing continued growth despite a slowdown in growth rate[32] - As of December 2018, China's internet user base reached 829 million, with a penetration rate of 59.6%, highlighting the expanding digital landscape[30] - The user base for online video, music, and gaming reached 612 million, 576 million, and 484 million respectively, indicating strong demand for digital services[31] Investments and R&D - R&D expenses increased by 54.21% year-on-year, resulting in the acquisition of 2 patents and 9 software copyrights[50] - The company is actively developing technologies in CDN, edge computing, SDN, and cloud computing to enhance service quality and operational efficiency[50] - The company has established a wholly-owned subsidiary, Guangdong Aowei Information Technology Co., Ltd., to expand into new fields related to the IDC industry[54] Operational Developments - The company has established four self-built IDC facilities in Guangzhou, Shenzhen, and Haikou, with a total of 2,950 available cabinets, improving operational efficiency[40] - The number of self-built data center cabinets increased by 89.1% year-on-year, reaching a total of 2,950 cabinets by the end of 2018[46] - The company completed the construction of two self-built data center projects, adding a total of 1,390 cabinets in Guangzhou and Hainan[46] Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 1.80 per 10 shares, totaling CNY 11,835,880.00 based on 65,526,600 shares[6] - The cash dividend for 2018 represents 20.28% of the net profit attributable to ordinary shareholders, which was 57,928,262.2 RMB[135] - The company has a clear and transparent profit distribution policy, which has been approved by the board and shareholders[130] Future Outlook and Strategy - The company plans to complete the construction of approximately 2,770 new cabinets and an additional 15,000 square meters of data center space by the end of 2019, increasing the total number of available cabinets to 5,720, representing a growth of over 90% compared to the end of 2018[117] - The company aims to enhance operational capabilities and expand its customer base, particularly in the core region of South China, to counteract revenue declines experienced in 2018[118] - The company will increase investment in overseas markets, establishing subsidiaries or joint ventures in Southeast Asia and Europe and America to enhance its international IDC network[119] Risks and Challenges - The company faces risks from potential changes in telecom operator policies that could affect resource availability and pricing, impacting operational performance[123] - Increased competition in the IDC market may lead to a loss of market share and a decline in overall industry gross margins due to lower entry barriers for new competitors[124] - The company has faced growth risks due to its relatively small operational scale, which limits its ability to withstand market and industry risks[125] Compliance and Governance - The company has ensured that the use of raised funds aligns with the disclosed usage and has not violated any regulations regarding fund usage[108] - The company has maintained compliance with environmental protection regulations and is not listed as a key pollutant discharge unit[183] - The company has adhered to all commitments made to minority shareholders, ensuring transparency and compliance with regulations[151]