Financial Performance - The company achieved total operating revenue of CNY 1,120,070,051.43 in 2020, representing a year-on-year increase of 36.62%[18]. - Net profit attributable to shareholders reached CNY 274,485,010.11, a significant increase of 90.46% compared to the previous year[18]. - The company's total assets grew to CNY 3,213,764,109.01, marking a 303.26% increase year-on-year[18]. - The net assets attributable to shareholders increased by 515.03% to CNY 2,733,523,311.97 by the end of 2020[18]. - The gross profit margin for the year was 43.52%, an increase of 6.49 percentage points compared to the previous year[63]. - Revenue from energy storage products reached CNY 1,044,627,376.19, with a year-on-year increase of 40.31%[64]. - The total profit for the year was CNY 311.94 million, with a year-on-year increase of 89.82%[52]. - The company reported a net profit attributable to the parent company of CNY 27,448.50 million, up 90.46% year-on-year[60]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in 2020, representing a year-over-year growth of 25%[177]. Dividend Policy - The company plans to distribute a cash dividend of RMB 5.50 per 10 shares, totaling approximately RMB 85.16 million, representing a cash dividend payout ratio of 31.03%[4]. - For the fiscal year 2020, the company proposed a cash dividend of RMB 5.50 per 10 shares, totaling RMB 85,164,493.15, which represents 31.03% of the net profit attributable to shareholders[92]. - The company has not distributed dividends in the years 2018 and 2019, indicating a focus on reinvestment during those periods[92]. - The company has a stable profit distribution policy, prioritizing cash dividends, with a minimum cash dividend amounting to 10% of the distributable profit[90]. Risk Management - The company has faced various operational risks, which are detailed in the report's section on "Risk Factors"[3]. - The company has a comprehensive risk management strategy outlined in the report[3]. - The company emphasizes that forward-looking statements in the report do not constitute substantive commitments to investors[5]. - The company has implemented measures to mitigate risks related to core technology leakage through confidentiality agreements and patent applications[54]. - The company faces risks related to the supply of key raw materials, with a notable increase in prices expected in Q1 2021 due to tight supply-demand conditions in the lithium battery industry[55]. - The company is exposed to risks from potential changes in industry policies, particularly regarding energy storage subsidies in key markets[57]. Research and Development - Research and development expenses accounted for 6.48% of operating revenue, a decrease of 0.86 percentage points from the previous year[20]. - The company has engaged Tianjian Accounting Firm for auditing services, ensuring compliance and accuracy in financial reporting[17]. - The company has invested significantly in R&D to enhance its core technologies, including battery management systems and energy storage system integration[38]. - The company has 233 R&D personnel, which constitutes 29.68% of the total workforce, an increase from 24.41% in the previous year[46]. - Research and development (R&D) expenses amounted to ¥72,623,204.71, representing a 20.65% increase compared to the previous year, while the R&D expenses as a percentage of operating income decreased from 7.34% to 6.48%[50]. - The company has received multiple awards in 2020, including the "Best Energy Storage Battery Supplier" at the China International Energy Storage Conference[29]. Market Expansion and Strategy - The company plans to continue expanding its market presence both domestically and internationally, leveraging the positive trends in the global energy storage market[21]. - The global energy storage market is projected to grow at a compound annual growth rate (CAGR) of 37%, with installed capacity expected to reach 13.8 GW/29.4 GWh by 2023[37]. - The company aims to provide integrated energy storage solutions for various applications, including residential, commercial, and grid-level storage[30]. - The company plans to enhance its lithium battery storage products focusing on safety, longevity, and reliability, aiming to become a leading provider of lithium-ion battery storage systems globally[87]. - The company is currently developing a high-capacity lithium battery system for data centers, with an investment of ¥609.70 million, which is in the testing phase[44]. Corporate Governance - The company has established a comprehensive governance structure to protect the rights of shareholders and creditors, ensuring timely and accurate information disclosure[131]. - The company has implemented a training management system to improve employee quality and organizational efficiency[194]. - The board of directors consists of 11 members, including 4 independent directors, which complies with relevant regulations[197]. - The company has established specialized committees within the board, including a strategy committee and an audit committee, which operate effectively[198]. - The company has a robust employee rights protection system, including comprehensive social insurance coverage and regular health check-ups[132]. Environmental Compliance - The company has successfully implemented an environmental management system that meets the ISO14001:2015 standard, ensuring compliance with national environmental laws and regulations[139]. - The company’s wastewater treatment capacity is currently 10 tons per day, and wastewater discharge complies with the "Battery Industry Pollutant Discharge Standards" (GB30484-2013) requirements[137]. - The company has not experienced any environmental pollution incidents during the reporting period and has not faced penalties for violating environmental laws[139]. - The company’s solid waste is fully utilized or properly disposed of, adhering to relevant pollution control standards[139]. Shareholder Information - The company has a total of 14,707 ordinary shareholders at the end of the reporting period, down from 16,891 at the end of the previous month[154]. - Major shareholders include ZTE Communications Co., Ltd. with 27.91% and Huangshi Rongke Innovation Investment Fund Center with 14.13%[155]. - The company reported a total of 43,218,677 restricted shares held by ZTE New Communications Co., Ltd., which will be tradable on January 2, 2024[159]. - The company has a significant investment in ZTE Corporation, holding 22.44% of its shares as of the report date[164]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[3]. - The company has no major litigation or arbitration matters during the reporting period, indicating a stable legal standing[119]. - The company has no major accounting errors or changes in accounting policies that would affect the financial statements significantly[117]. - The company assumes legal responsibility for the accuracy and completeness of the IPO prospectus and related documents[96].