Financial Performance - The company's operating revenue for 2020 was CNY 686,679,972.69, representing a 65.95% increase compared to CNY 413,787,969.95 in 2019[22] - The net profit attributable to shareholders for 2020 was CNY 316,498,485.10, a 49.08% increase from CNY 212,296,858.02 in 2019[22] - The basic earnings per share for 2020 was CNY 2.30, up 21.69% from CNY 1.89 in 2019[22] - The total assets at the end of 2020 amounted to CNY 2,725,379,235.51, a 106.75% increase from CNY 1,318,215,525.80 at the end of 2019[22] - The net profit after deducting non-recurring gains and losses for 2020 was CNY 307,502,748.26, an increase of 47.31% from CNY 208,750,128.13 in 2019[22] - The net cash flow from operating activities for 2020 was CNY 107,940,748.59, a decrease of 27.35% from CNY 148,581,632.98 in 2019[22] - Total revenue for Q4 reached ¥319,243,621.18, marking a significant increase compared to previous quarters[27] - Net profit attributable to shareholders for Q4 was ¥143,041,918.30, showing strong performance in profitability[27] - The net cash flow from operating activities in Q4 was positive at ¥171,963,905.45, indicating improved cash generation capabilities[27] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 3 per 10 shares and issue 7 bonus shares for every 10 shares held[5] - The company distributed a cash dividend of RMB 3.00 per 10 shares, totaling RMB 45,048,000.00, which represents 14.23% of the net profit attributable to ordinary shareholders[144] - In 2019, the company distributed a cash dividend of RMB 10.00 per 10 shares, totaling RMB 150,160,000.00, which accounted for 70.73% of the net profit attributable to ordinary shareholders[146] - The company has committed to maintaining its cash dividend policy, ensuring that the proportion of cash dividends meets regulatory requirements[145] - The company’s cash dividend policy is designed to balance shareholder returns with the need for reinvestment in growth opportunities[145] Research and Development - The company has a strong focus on R&D for high-end braking products used in military and civil aviation, with a significant market presence[36] - The company’s research and development process includes multiple stages, ensuring comprehensive validation and testing of new products[42] - The company has developed proprietary technologies in brake systems, including a new carbon/carbon composite material preparation technology that meets international advanced standards[51] - The R&D team has received multiple honors, including the "National Key New Product Award" and "Beijing Science and Technology Award Third Prize," showcasing the company's strong technical capabilities[51] - Research and development expenses increased by 46.22% to ¥49,854,221.38, primarily due to increased investment in R&D by the parent company and the consolidation of the subsidiary[85] Market Strategy and Expansion - The company aims to expand its market share in civil aviation and high-speed rail braking systems, diversifying its revenue sources[36] - The company plans to expand its core military product capacity and accelerate the introduction of new products into the military, targeting a significant increase in military product profit margins over the next five years[59] - In the civil market, the company will actively pursue the localization of aircraft wheel production for Airbus and Boeing, aiming to establish civil aviation standards and expand its market presence[59] - The company plans to establish a maintenance base for military and civilian aircraft landing gear systems, anticipating profitability within 2-3 years[62] - The company plans to apply for an initial public offering (IPO) and listing with the China Securities Regulatory Commission[153] Risk Management - The company has outlined potential risk factors and countermeasures in its annual report, emphasizing the importance of investor awareness[5] - The company faces risks related to customer concentration, as its revenue primarily comes from a few key products and clients[132] - The company has implemented measures to manage accounts receivable risks, including establishing customer profiles and credit management[135] - The company will closely monitor the validity of military qualifications and actively manage the renewal process to mitigate risks associated with qualification loss[137] Financial Position and Investments - The company's fixed assets increased by 47.41% compared to the beginning of the period, mainly due to the consolidation of its subsidiary Jinghanyu[42] - Cash and cash equivalents increased by 134.96% compared to the beginning of the period, primarily due to funds received from fundraising activities[42] - The total amount of funds raised in 2020 was CNY 77,408.13 million, with CNY 27,280.33 million utilized by the end of the reporting period[114] - The company aims to enhance its integration capabilities and profitability through the acquisition of Beijing Jinghanyu, optimizing its industry layout and extending the industrial chain[125] - The company reported total assets of CNY 517,368,630.24 and net assets of CNY 408,101,934.17 for its subsidiary, Beijing Jinghanyu[125] Customer and Sales Performance - The military products accounted for 95.06% of total revenue, generating 653 million yuan, a year-on-year increase of 62.02%[72] - The total sales amount of the top five customers reached ¥481,846,165.78, accounting for 70.17% of the annual total sales[82] - The sales amount from the largest customer was ¥220,964,584.45, representing 32.18% of the annual total sales[82] - The company’s subsidiary, Jinghanyu, contributed 131 million yuan in sales from September to December 2020 after being consolidated into the financial statements[66] Future Outlook - Future guidance indicates a revenue target of 1.8 billion RMB for 2021, reflecting a growth rate of 20%[179] - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market reach[179] - A strategic partnership with a leading automotive manufacturer is expected to boost sales by 30% in the next fiscal year[179] - The company plans to allocate 100 million RMB for R&D in new technologies aimed at enhancing product efficiency and sustainability[179]

北京北摩高科摩擦材料股份有限公司 2020 年第三季度报告全文 北京北摩高科摩擦材料股份有限公司 2020 年第三季度报告 2020 年 10 月 1 北京北摩高科摩擦材料股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人王淑敏、主管会计工作负责人王淑敏及会计机构负责人(会计主 管人员)刘健声明：保证季度报告中财务报表的真实、准确、完整。 2 北京北摩高科摩擦材料股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | |-----------------------------------------------------|------------------|-------------------------|------------------ ...

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 228,629,038.50, representing a 50.45% increase compared to CNY 151,958,663.70 in the same period last year[23]. - The net profit attributable to shareholders of the listed company reached CNY 107,957,817.45, an increase of 80.40% from CNY 59,845,126.57 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was CNY 103,520,108.69, up 78.11% from CNY 58,122,977.55[23]. - The basic earnings per share increased to CNY 0.86, a rise of 62.26% from CNY 0.53[23]. - The total assets at the end of the reporting period were CNY 2,068,223,279.95, a 56.90% increase from CNY 1,318,215,525.80 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company were CNY 1,858,543,995.99, reflecting a 65.18% increase from CNY 1,125,138,612.70[23]. - The company reported a net cash flow from operating activities of CNY -72,617,575.79, a decrease of 99.73% compared to CNY -36,357,336.08 in the previous year[23]. - The weighted average return on equity was 7.51%, up from 6.37%[23]. Dividend and Shareholder Actions - The company plans not to distribute cash dividends or issue bonus shares for this period[7]. - The basic and diluted earnings per share were diluted from CNY 0.96 to CNY 0.86 following the IPO[171]. - The company did not distribute cash dividends or issue bonus shares for the half-year period[132]. Market Position and Revenue Model - The company primarily engages in the research, production, and sales of landing gear systems for military and civilian aerospace, as well as high-end braking products for tanks and high-speed trains, with military products being the main revenue source[32]. - The company has established a strong market position in military products, with significant adoption of its aircraft brake control systems and wheels by the military and major domestic manufacturers, covering five military regions[32]. - The company’s revenue model includes direct sales of braking products to manufacturers and military clients, with a focus on providing spare parts after aircraft are equipped[36]. - The company’s military procurement is characterized by strict management systems, requiring military approval for product pricing and procurement processes, ensuring a stable order flow despite annual fluctuations[33]. - The company’s product sales are primarily driven by military contracts, with a stable growth trend in military spending supporting ongoing demand for its products[33]. Research and Development - The company has a robust R&D capability, with a dedicated department overseeing the entire development process, which includes project validation, engineering development, and design finalization[46]. - The company has 77 patents, including national defense patents and invention patents, with over 50 projects under development[53]. - The R&D team consists of 72 members, accounting for 21.56% of the total workforce[53]. - The company has developed new technologies for brake discs and wheels, achieving international advanced levels and breaking international technology monopolies[55]. - Research and development investment increased by 21.68% to 14,265,193.42 yuan, reflecting the company's commitment to innovation and product development[85]. Financial Management and Investments - The company reported a net cash inflow from financing activities of 633,589,291.25 yuan, primarily due to the receipt of raised funds[85]. - The net increase in cash and cash equivalents was 364,454,147.49 yuan, a 381.70% increase, attributed to the influx of raised funds[85]. - The company plans to leverage capital markets for funding through acquisitions and public offerings to support business development and industry expansion[78]. - The company aims to maintain a reasonable capital structure by utilizing various financing methods, including bank loans and corporate bonds[78]. - The total amount of raised funds was ¥77,408.13 million, with ¥26,703.77 million invested during the reporting period[103]. Risks and Challenges - The company faces risks related to the concentration of customers, with major clients being state-owned enterprises in the military aviation sector[123]. - The company has a strong reliance on military procurement, which can lead to revenue volatility due to the nature of military contracts[122]. - The company plans to expand its market presence into civil aviation and high-speed rail sectors to reduce customer concentration risks[123]. - The company will enhance management and supervision of the fundraising investment projects and adjust them according to market changes to improve efficiency and returns[129]. Shareholder Structure and IPO - The company completed its initial public offering (IPO) of 37,540,000 shares, increasing total shares from 112,620,000 to 150,160,000[166]. - The total number of shareholders holding more than 5% of shares includes Wang Shumin with 35.07% and Chen Jianfeng with 13.16%[175]. - The company’s net assets attributable to ordinary shareholders significantly increased due to the funds raised from the IPO[171]. - The company’s stock was listed on the Shenzhen Stock Exchange on April 29, 2020[169]. - The issuance of new shares accounted for 25% of the total shares post-IPO[166]. Operational Developments - The company is transitioning from a component supplier to a system supplier, enhancing its integrated capabilities in the aerospace sector[58]. - The company is focusing on the development of military aircraft brake control systems and wheels, with ongoing projects expected to be mass-produced and deployed within the next 3-5 years[68]. - The company is expanding into the high-speed rail brake pad market, with plans to build advanced production lines and develop multiple models of brake pads to enhance profitability[71]. - The company is establishing a maintenance base for military and civilian aircraft landing gear systems, anticipating profitability growth within 2-3 years due to the increasing demand in the aviation market[72]. - The company is enhancing its technical capabilities through partnerships with top universities, aiming to maintain its competitive edge in the industry[73].