Shenda Shares (600626) Increased Profits In:2018, But Net Profit Fell To 35.2%.

Shenda shares (600626) disclosed its annual report in April 27, 2019. The company achieved a total revenue of 16 billion 330 million in 2018, up 46.8% from the same period last year, an increase of 9 years. The net profit attributable to the owners of the parent company was 130 million, down 35.2% compared to the same period last year, and the decline was larger than that of last year. The earnings per share were 0.18 yuan.

In the first quarter of 19, the company achieved a total revenue of 3 billion 720 million, down 8.2% from the same period last year, and the net profit attributable to the owners of the parent company was 470 million, an increase of 1133.7% over the same period last year.

During the reporting period, the non recurring gains and losses had a greater impact on the company's performance, totaling 140 million yuan, of which the non current assets disposal gains and losses and government subsidies were 110 million yuan and 60 million 62 thousand yuan respectively.

Net profit after deducting non recurring gains and losses is -1898.5 million yuan, down 123% compared with the same period last year.

Meanwhile, management fees increased by 60.7% year-on-year, affecting profit growth.

The company's 2018 profit distribution plan: 10 yuan 0.50 yuan (including tax).

Financial costs rose by 109%, and R & D spending increased significantly.

The cost rate of the company in 2018 was 10.9%, which did not change much compared with that of last year.

The total cost during the period reached 1 billion 780 million, up 52.9% over the same period last year.

The sales cost was 410 million, an increase of 18.5% compared to the same period last year; the management cost was 940 million, up 60.7% compared to the same period last year; the financial cost was 190 million, up 109% over the same period; the R & D cost was 240 million, up 67.9% over the same period.

Operating costs 14 billion 570 million, an increase of 46.9% over the same period, operating income grew 46.8% over the same period, gross margin was unchanged from the previous period.

R & D investment has increased significantly, up 66.8% from 250 million over the same period last year.

The capitalization ratio of R & D investment is 3.8%.

This period "auto interior business" has a larger revenue contribution.

From the perspective of business structure, "automotive interior business" and "foreign trade import and export business" are the main source of business revenue.

Specifically, the "automotive interior business" business revenue is 10 billion 710 million, revenue accounted for 61.9%.

"Foreign trade import and export business" business revenue was 5 billion 230 million, revenue accounted for 30.2%.

"Domestic trade" business revenue was 1 billion 160 million, and revenue accounted for 6.7%.

From the perspective of profit contribution, the consolidated gross profit margin of enterprises is 10.8%.

Among them, "automobile interior business", "foreign trade import and export business" and "domestic trade" gross profit contributed 70.8%, 21.8% and 5.6% respectively.

The gross profit margins of "automotive interior business", "foreign trade import and export business" and "domestic trade" are 11.4%, 7.2% and 8.2% respectively.