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Zhejiang Dali Technology Co., Ltd. Summary Of 2016 Annual Report
Aug 15, 2018

Stock code: 002214 Securities abbreviation: Dali Technology Announcement No.: 2017-009


  Zhejiang Dali Technology Co., Ltd.


  Summary of the 2016 Annual Report


  First, important tips


  The summary of this annual report comes from the full text of the annual report. In order to fully understand the company's operating results, financial status and future development plan, investors should read the full text of the annual report carefully to the designated media of the CSRC.


  All the directors of the company personally attended the board meeting to review this annual report.


  Non-standard audit opinion prompts


  □ Applicable √ Not applicable


  The plan for the distribution of common stock profits or the plan for converting public reserve into share capital during the reporting period reviewed by the board of directors


  √ Applicable □ Not applicable


  Whether to convert public reserve into share capital


  □ Yes √ No


  The company's common stock profit distribution plan reviewed and approved by the board of directors is: based on 458, 666, 666, a cash dividend of 0.25 yuan (including tax) will be distributed to all shareholders for every 10 shares, and 0 shares (including tax) will be sent to the bonus shares, and will not be increased by the provident fund. Equity.


  The plan for the distribution of preferred stock profits during the reporting period approved by the board of directors


  □ Applicable √ Not applicable


  Second, the company's basic situation


  1. Company Profile


  ■


  2. Main business or product introduction during the reporting period


  The company is mainly engaged in the research, development, production and sales of infrared camera series products. It is one of the internationally competitive local enterprises in the field of infrared thermal imaging. The products are widely used in military, electric power, chemical, metallurgy, construction, fire protection, scientific research, security. And other industries.


  Infrared camera is a high-tech product used to detect the infrared radiation of a target object and convert the temperature distribution of the target object into a visible image through photoelectric conversion, electrical signal processing, etc., involving optical, mechanical, and microelectronics. Integration and intersection of multiple disciplines such as physics, computer, and image processing.


  The infrared camera has two distinct features of imaging without light source and penetrating smoke, so it can be applied to military night vision detection, weapon sights, night vision guidance, infrared search and tracking, satellite remote sensing and other military fields. In the civilian sector, thermal imaging cameras can be widely used in many markets such as preventive testing, fire protection, process control, security, night vision and environmental monitoring.


  The infrared thermal imaging industry has high barriers to the industry, and puts high demands on the technology and continuous research and development investment of infrared thermal imager manufacturers. In the international market, it has formed a leading position in the United States, and the United Kingdom, France, Japan, Germany, Israel and other developed countries. In the domestic market, only a few companies have strong R&D capabilities and independent intellectual property rights. They can independently develop infrared thermal imager follow-up circuits and infrared data analysis and processing software, and industrial concentration is becoming more and more obvious.


  The company is an enterprise engaged in the R&D and production of infrared thermal imaging cameras earlier in the country. It is one of the largest and most comprehensive civilian infrared thermal imager manufacturers in China. As a high-tech industry, the infrared camera industry has maintained a high level of profit due to its high technical content and high barriers to the industry. However, in recent years, due to the decline in detector costs and the overall technology of infrared cameras. Improvement, cost continues to decline, the civilian infrared camera from the original high-end detection equipment to high-end and low-end products for multi-industry applications, product cost-effectiveness continues to increase, the market size of the low-end products continues to expand, making the overall price of the product It is on a downward trend.


  3. Main accounting data and financial indicators


  (1) Major accounting data and financial indicators in the past three years


  Whether the company retroactively adjusts or restates previous accounting data due to changes in accounting policies and correction of accounting errors


  □ Yes √ No


  currency: RMB


  ■


  (2) Major accounting data for quarterly


  currency: RMB


  ■


  Whether the above financial indicators or their total amount are significantly different from the financial indicators related to the company’s disclosed quarterly and semi-annual reports


  □ Yes √ No


  4. Equity and shareholders


  (1) Number of preferred stockholders with common stockholders and voting rights restored and shareholdings of the top 10 shareholders


  Unit: Stock


  ■


  (2) The total number of preferred shareholders of the company and the top 10 preferred shareholders' shareholdings


  □ Applicable √ Not applicable


  During the reporting period, the company did not hold shares of preferred stockholders.


  (3) Disclose the property rights and control relationship between the company and the actual controller in block diagram form


  ■


  Third, the business situation discussion and analysis


  1. Introduction to the operation during the reporting period


  The company invites investors to carefully read the full text of this annual report and pay special attention to the following risk factors.


  Does the company need to comply with disclosure requirements for specific industries?


  no


  During the reporting period, the company adhered to the business philosophy of “Technology gives customers peace of mind, service makes customers satisfied”, adhered to the established development strategy, standardized corporate governance structure, actively expanded the market, strengthened R&D and innovation, and continued to promote various tasks. development of. The main operations of the company during the reporting period are as follows.


  In 2016, the company achieved operating income of RMB 339,408,200, an increase of RMB 16,633,400 over the same period of the previous year, an increase of 5.06% over the same period of last year; operating profit of RMB 263,395,500, a decrease of RMB 29,390,800 over the same period of the previous year; net profit attributable to shareholders of listed companies of RMB 33,108,700 Yuan, an increase of 658,400 yuan over the same period of the previous year, an increase of 2.03%; the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses - 79.134 million yuan, a decrease of 22,400,700 yuan over the same period of the previous year.


  In 2016, operating income increased slightly compared with the same period of the previous year, but operating profit and net profit attributable to shareholders of listed companies excluding non-recurring gains and losses decreased compared with the same period of last year, mainly due to the company's core technology and 2016. The research and development of new products, especially the national special scientific research projects undertaken by the company, such as the “Nuclear High-Based Major Project” and the “National Major Scientific Instruments and Equipment Development Project”, have entered the stage of tackling the hard work, and the investment in research and development has increased significantly. In 2016, the company invested in R&D expenses. 8,162,200 yuan, an increase of 22,410,100 yuan over the same period of the previous year, an increase of 37.83%. Among them: the national special scientific research projects such as “Nuclear High-tech Major Project” and “National Major Scientific Instruments and Equipment Development Project” have invested a total of RMB 45,563,800 in research and development, and at the same time, received and confirmed the above two R&D included in “out-of-business income”. The project funding subsidy totaled 4,009,470 yuan. The substantial increase in investment in research and development expenses in 2016 resulted in the company's 2016 annual operating profit and net profit attributable to shareholders of listed companies excluding non-recurring gains and losses decreased compared with the same period of the previous year.


  During the reporting period, the company's management closely focused on the company's annual business objectives, strictly implemented the resolutions of the board of directors and shareholders' meeting, actively carried out various business management activities, and fully accelerated the pace of innovation and team building, effectively enhancing the brand influence of the company. Maintained a relatively healthy and good development trend of the company.


  1. Increase technology research and development and promote product upgrades


  Infrared thermal imaging cameras have a broad market application prospect in the military and civilian markets, but the relatively high price currently limits the popularity and application of their markets. Under the dual traction of demand and technology, infrared camera technology is mainly focused on improving product cost performance, miniaturization, and providing higher integration products. During the reporting period, the company continued to increase technology research and development and new product development, and actively invested in product development for emerging applications such as car night vision, security, and inspection robots (16.970, 0.00, 0.00%). In December 2016, the company new The product “Substation Intelligent Inspection Robot” won the bid for the State Grid Project for the first time. The total contract amount was RMB 18,940,500, which was delivered in the first quarter of 2017.


  Relying on the "Nuclear High-Level Major Projects" and "National Major Scientific Instruments and Equipment Development Special Projects" and other scientific research and development projects, we will increase R&D investment in the localization and application of infrared thermal imaging camera core components, and strive to enhance the company's core competitiveness. In the report period, R&D investment was RMB 81,632,200, accounting for 24.05% of the company's operating income, an increase of RMB 22,410,100 over the same period of the previous year, an increase of 37.83%. As of the end of the reporting period, the company has completed the main R&D work of the “Nuclear High-Level Major Project” and is currently in the project acceptance stage. The continuous investment in R&D projects will lay a solid technical foundation for the company's future business development.


  2. Increase market development and marketing network construction


  By participating in domestic and international industry exhibitions, providing system solutions for new users, and other marketing measures, we will gradually expand into emerging markets such as car night vision, security, and inspection robots by means of multi-level marketing network organizations. The company has set up a technical marketing team to provide professional technical services to users. The company will continue to rely on mature marketing system and customer service system to effectively enhance the company's brand awareness and reputation.


  3. Strengthen the construction of talent team


  Excellent and stable talent team is the driving force behind the company's development. The company will continue to improve performance appraisal and remuneration policies, attract and retain core talents, introduce effective forces through the implementation of effective recruitment policies and employee training programs, and strengthen corporate culture for the company's business. The development provides a matching talent pool, enhances the cohesiveness and centripetal force of the company, and improves the sense of belonging of employees of Zhejiang Dali Technology Co., Ltd. Through the implementation of the employee stock ownership plan, the company further promotes the establishment and improvement of the personnel training, incentive and restraint mechanism, fully mobilizes the enthusiasm of the company's management personnel and core employees, and effectively combines the interests of shareholders, the interests of the company and the interests of employees, so that all parties can Focus on and share the company's development.


  2. Whether there is any major change in the main business during the reporting period


  □ Yes √ No


  3. Products that account for more than 10% of the company's main business income or main business profit


  √ Applicable □ Not applicable


  unit: yuan


  ■


  4. Are there seasonal or cyclical features that require special attention?


  □ Yes √ No


  5. Operating income, operating costs, total net profit attributable to ordinary shareholders of the listed company during the reporting period or a description of major changes from the previous reporting period


  √ Applicable □ Not applicable


  In 2016, the main business income and operating costs did not change significantly from the same period of last year. Due to the significant increase in research and development expenses caused by the national special scientific research projects, the company's operating profit decreased compared with the same period of the previous year. After receiving the government subsidy for research and development projects, the non-operating income increased compared with the same period of the previous year, which led to a significant change in the net profit composition of the company's common shareholders in the listed company in 2016 compared with the same period of the previous year. In 2016, the company increased the research and development of core technologies and new products, especially the national special scientific research projects such as “Nuclear High-tech Major Projects” and “National Major Scientific Instruments and Equipment Development Projects”, which entered the tackling stage, and the investment in research and development expenses increased significantly. In 2016, the company invested a total of 81,632,200 yuan in research and development expenses, an increase of 22,410,100 yuan over the same period of the previous year, an increase of 37.83%. Among them: the national special scientific research projects such as “Nuclear High-tech Major Project” and “National Major Scientific Instruments and Equipment Development Project” have invested a total of RMB 45,563,800 in research and development, and at the same time, received and confirmed the above two R&D included in “out-of-business income”. The project funding subsidy totaled 4,009,470 yuan. The substantial increase in R&D expenses in 2016 resulted in the company's 2016 annual operating profit and net profit attributable to shareholders of listed companies deducting non-recurring gains and losses from the same period of the previous year. The net profit attributable to ordinary shareholders of listed companies was higher. Great changes occurred in the same period last year.


  6. Faced with suspension of listing and termination of listing


  □ Applicable √ Not applicable


  7. Matters related to financial reporting


  (1) Explanation of changes in accounting policies, accounting estimates and accounting methods compared with the previous year's financial report


  □ Applicable √ Not applicable


  During the reporting period, the company did not have any changes in accounting policies, accounting estimates and accounting methods.


  (2) Explanation of major accounting errors corrected during the reporting period that need to be retrospectively restated


  □ Applicable √ Not applicable


  During the reporting period, there was no significant accounting error correction required to be retrospectively restated.


  (3) Description of the changes in the scope of the consolidated statement compared with the financial report of the previous year


  □ Applicable √ Not applicable


  During the reporting period, the company did not change the scope of the consolidated statements.


  (4) Estimation of operating results for January-March 2017


  □ Applicable √ Not applicable