Yaguang Technology disclosed its annual report on April 28, 2020. In 2019, the company achieved a total operating income of 2.21 billion yuan, a year-on-year increase of 56.2%; achieved a net profit attributable to shareholders of 280 million yuan, a year-on-year increase of 83.5

Yarguang Technology disclosed its annual report on April 28, 2020. The company achieved total operating income of 2.21 billion yuan in 2019, a year-on-year increase of 56.2%; achieved net profit attributable to shareholders of 280 million yuan, a year-on-year increase of 83.5%, and the growth rate maintained a rapid growth of more than 34% for four consecutive years; earnings per share was 0.28 yuan. In the first quarter of 2020, the company achieved total operating income of 440 million yuan, a year-on-year increase of 52.8%; net profit attributable to shareholders was 30.773 million yuan, a year-on-year decrease of 23.3%.

Note: Yaguang Technology completed a major asset restructuring on September 27, 2017. The expense ratio during the period of

decreased by 4.1%, the cost control effect was significant, the operating cost increased significantly, and the operating cash flow increased significantly 214.7%

The company's operating cost in 2019 was 1.66 billion yuan, a year-on-year increase of 78.3%, higher than the growth rate of 56.2% of operating income, resulting in a 9.3% decrease in gross profit margin. The period expense ratio was 14.2%, down 4.1% from last year, and the cost control effect was significant. Operating cash flow increased from -250 million to 290 million, an increase of 214.7% year-on-year. The company's R&D investment has increased significantly, an increase of 84.7% compared with the same period last year to 120 million. The capitalization ratio of R&D investment is 20.9%, and the capitalization ratio is relatively high.

This issue of "Military Electronic Manufacturing" contributes a large revenue contribution

From the perspective of business structure, "Military Electronic Manufacturing" is the main source of enterprise operating income. Specifically, the operating income of "Military Electronic Manufacturing" was 1.09 billion yuan, accounting for 49% of revenue and gross profit margin of 40.7%.

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