2019年度该集团股东权益报酬率在行业中低于行业标准水平，反映了企业股

The return rate of the group's shareholders' equity in 2019 is lower than the industry standard level in the industry, reflecting that the overall investment returns of corporate equity owners are not very good, but this situation is improving year by year. The reason is that, in addition to the technical transformation of the subsidiary's suspension of production in 2018, the changes in the return on shareholder equity are mainly affected by changes in the return on total assets and the structure of assets and liabilities: the return on total assets ranges from 0.85% in 2017 to 1.5 in 2018 %, Which has nearly doubled, because although the group ’s net profit margin has increased this year, its total asset turnover efficiency still needs to be improved. Analysis of the asset structure shows that as the amount of capital reserve becomes larger, the amount of shareholder equity attributable to shareholders of the parent company increased by 6.85% from 2016, which reduced the equity multiplier from 2.59 in 2016 to 2.46 in 2017, thereby weakening shareholder equity Increase in rate of return. Therefore, the group needs to appropriately adjust the internal capital structure of the group without increasing the financing risk, and at the same time, it must improve the efficiency of asset utilization and improve the return on shareholders' equity.

The group's shareholder stake return rate in the industry in 2019 is below the industry standard level, reflecting the overall investment compensation of the enterprise's equity owners is not very good, but this situation is improving year by year. The reason for this is that, in addition to the 2018 subsidiary shutdown technology reform, the change in shareholders' equity return is mainly affected by the change in the total asset return rate and the structure of assets and liabilities: the total asset return rate from 0.85% in 2017 to 1.5% in 2018, has nearly doubled, because although the group's net profit margin increased this year, its total asset turnover efficiency still needs to be improved. An analysis of the asset structure indicates that the amount of shareholders' equity attributable to the parent company increased by 6.85 percent over 2016 due to the larger amount of capital reserves, resulting in a decrease in the equity multiplier from 2.59 in 2016 to 2.46 in 2017, thereby weakening the increase in shareholders' return on equity. Therefore, the Group needs to adjust the capital structure within the Group with less increased financing risk, while improving the efficiency of asset utilization and the return on shareholders' equity

In 2019, the return on shareholders' equity of the group is lower than the industry standard level, which reflects that the overall return on investment of the equity owners of the enterprise is not very good, but this situation is improving year by year. The reason is that, in addition to the technical transformation of subsidiary shutdown in 2018, the change of return on shareholders' equity is mainly affected by the change of return on total assets and structure of assets and liabilities: the return on total assets has nearly doubled from 0.85% in 2017 to 1.5% in 2018, because although the group's net profit rate has increased in this year, its total asset turnover efficiency still needs to be improved. It can be seen from the analysis of asset structure that as the amount of capital reserve increases, the amount of shareholders' equity attributable to the shareholders of the parent company increases by 6.85% compared with 2016, which reduces the equity multiplier from 2.59 in 2016 to 2.46 in 2017, thus weakening the increase of the rate of return on shareholders' equity. Therefore, the group needs to properly adjust the capital structure within the group, improve the efficiency of asset utilization, and improve the rate of return on shareholders' equity with less financing risk<br>