Andy Su: Gross margin slower in 2018, increase revenue not increase

Andesu disclosed in its annual report on March 21, 2019 that the Company achieved total operating income of 11.42 billion yuan in 2018, up 9.8% YoY; During the reporting period, the company's gross margin was 34.9%, down 4.0 percentage points from the previous year, and the net margin was 10.6%, down 5.5 percentage points from the previous yearQDZ
During the reporting period, a 20.8% increase in sales expenses affected the growth of profit, mainly due to increased sales volumes and the global specialty products business team that needed further expansion to support the company's two-pillar development strategyQDZ
The Company's 2018 profit distribution plan: 10 shares 1.73 yuan (including tax), dividend rate of 38.2%, up from 27.7% last yearQDZ
The 2.6% increase in the cost rate during qDZwas a drag on the company's performance, and the investment in research and development increased significantlyQDZ's expense rate for the period 2018 was 18.7%, up 2.6% from the previous year, which was a drag on the company's performanceThe total cost for the period amounted to 2.13 billion, an increase of 27.6% yoYSales expenses were $1.21 billion, up 20.8% YoY, management expenses were $660 million, up 36.4% YoY, and financial expenses were -44.371 million, up 22.2% YoY, mainly due to the weakness of The South American currency in 2018, and research and development expenses were $300 million, up 26.5% YoYOperating costs were $7.43 billion, up 17.1% YoY, higher than the 9.8% growth in operating income, resulting in a 4% decrease in gross marginThe company's research and development investment increased significantly, up 34.1% year-on-year to 400 millionThe proportion of research and development investment capitalised is 4.5%QDZ
QDZthe current period of "functional products" contributed a large marginQDZfrom the business structure, "functional products", "other chemical products" is the main source of business revenueSpecifically, "Functional Products" generated revenue of $8.5 billion, accounting for 74.4%"Special products" revenue was $2.26 billion, accounting for 19.8 percent of revenue"Other chemical products" revenue was 660 million, accounting for 5.8% of revenueQDZ
Profit contribution perspective, "functional products" gross margin contributed the mostDuring the reporting period, the overall gross margin of enterprises was 34.9%, down 4 percentage points year-on-yearAmong them, "functional products", "special tymes" and "other chemical products" gross margin contribution accounted for 64.9%, 27.9%, 7.1%, respectively, "functional products" contributed a larger gross marginThe gross margin of "functional products", "specialty products" and "other chemical products" was 30.4%, 49.2% and 43%, respectivelyQDZ
QDZ Andesu disclosed its annual report on March 21, 2019, showing that the Company achieved total operating income of 11.42 billion yuan in 2018, up 9.8% YoY, while net income attributable to the owner of the parent company was 930 million, down 30% YoY, an increase over last year, and earnings per share was RMB0.35 During the reporting period, the company's gross margin was 34.9%, down 4.0 percentage points from the previous year, and the net margin was 10.6%, down 5.5 percentage points from the previous year QDZ
　　During the reporting period, a 20.8% increase in sales expenses affected the growth of profit, mainly due to increased sales volumes and the global specialty products business team that needed further expansion to support the company's two-pillar development strategy QDZ
　　The Company's 2018 profit distribution plan: 10 shares 1.73 yuan (including tax), dividend rate of 38.2%, up from 27.7% last year QDZ
The 2.6% increase in the cost rate during qDZ was a drag on the company's performance, and the investment in research and development increased significantly QDZ 's expense rate for the period 2018 was 18.7%, up 2.6% from the previous year, which was a drag on the company's performance The total cost for the period amounted to 2.13 billion, an increase of 27.6% yoY Sales expenses were $1.21 billion, up 20.8% YoY, management expenses were $660 million, up 36.4% YoY, and financial expenses were -44.371 million, up 22.2% YoY, mainly due to the weakness of The South American currency in 2018, and research and development expenses were $300 million, up 26.5% YoY Operating costs were $7.43 billion, up 17.1% YoY, higher than the 9.8% growth in operating income, resulting in a 4% decrease in gross margin The company's research and development investment increased significantly, up 34.1% year-on-year to 400 million The proportion of research and development investment capitalised is 4.5% QDZ
QDZ the current period of "functional products" contributed a large margin QDZ from the business structure, "functional products", "other chemical products" is the main source of business revenue Specifically, "Functional Products" generated revenue of $8.5 billion, accounting for 74.4% "Special products" revenue was $2.26 billion, accounting for 19.8 percent of revenue "Other chemical products" revenue was 660 million, accounting for 5.8% of revenue QDZ
　　Profit contribution perspective, "functional products" gross margin contributed the most During the reporting period, the overall gross margin of enterprises was 34.9%, down 4 percentage points year-on-year Among them, "functional products", "special tymes" and "other chemical products" gross margin contribution accounted for 64.9%, 27.9%, 7.1%, respectively, "functional products" contributed a larger gross margin The gross margin of "functional products", "specialty products" and "other chemical products" was 30.4%, 49.2% and 43%, respectively QDZ
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