AVICHM(SH:600765)2021-03-11 16:00Financial Performance - The company's operating revenue for 2020 was CNY 6,698,164,989.34, an increase of 11.92% compared to CNY 5,984,908,825.86 in 2019[15]. - The net profit attributable to shareholders for 2020 was CNY 343,807,842.18, representing a growth of 24.91% from CNY 275,255,465.74 in the previous year[15]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 271,522,962.71, up 5.74% from CNY 256,785,998.19 in 2019[15]. - The basic earnings per share (EPS) for 2020 was CNY 0.37, reflecting a 5.71% increase from CNY 0.35 in 2019[16]. - The company's total revenue reached CNY 6,698,164,989.34, representing a year-on-year growth of 11.92%[35]. - The total profit amounted to CNY 51,358.92 million, reflecting a year-on-year increase of 25.89%[34]. Cash Flow and Assets - The net cash flow from operating activities for 2020 was CNY 658,436,313.59, a decrease of 15.96% compared to CNY 783,441,157.08 in 2019[15]. - The company's net cash flow from investment activities improved by CNY 3,203.20 million, primarily due to the sale of stocks[37]. - The total assets at the end of 2020 amounted to CNY 15,666,335,776.58, reflecting an 8.95% increase from CNY 14,380,016,683.94 in 2019[15]. - As of the end of 2020, the net assets attributable to shareholders were CNY 6,711,656,205.45, an increase of 9.51% from CNY 6,129,042,085.83 at the end of 2019[15]. Revenue Breakdown - The revenue from the forging and casting business was CNY 4.981 billion, a year-on-year increase of 13.77%[24]. - The revenue from the hydraulic and thermal control business was CNY 1.717 billion, representing a year-on-year growth of 6.85%[25]. - The aviation segment contributed 4.180 billion RMB to the forging and casting revenue, growing by 14.96% and accounting for 83.92% of the segment's total[31]. Research and Development - The company maintained a strong focus on R&D, particularly in high-temperature alloys and titanium alloys, enhancing its competitive edge in the aviation sector[30]. - Research and development expenses increased by 44.93% to CNY 294,921,786.96, indicating a significant investment in new product development[37]. - The total R&D expenditure for the period was CNY 294,921,786.96, accounting for 4.4% of operating revenue[48]. Dividend Policy - The company plans to distribute a cash dividend of CNY 0.495 per 10 shares, totaling CNY 46,514,201.58, based on a total share capital of 939,680,840 shares as of the end of 2020[3]. - The company has implemented cash dividends for three consecutive years, with the 2019 cash dividend being CNY 42,012,172.80, representing 15.26% of the consolidated net profit[81]. - The company's cash dividend policy has been adjusted in accordance with regulatory requirements to enhance shareholder returns[79]. Corporate Governance - The company has established independent operational capabilities, including assets, personnel, qualifications, and market-facing capabilities, to ensure no interference from controlling shareholders[88]. - The company has committed to maintaining an independent organizational structure, ensuring that its operations are completely separate from those of its controlling shareholders[88]. - The company held 4 shareholder meetings during the reporting period, including 3 temporary and 1 regular meeting, ensuring equal rights for all shareholders, especially minority shareholders[176]. Environmental and Social Responsibility - The company faced an environmental penalty of 80,000 due to improper waste management but has since implemented corrective measures[131]. - The company actively participates in poverty alleviation through various initiatives, including industrial support and party-building assistance[125]. - A total of 287.23 million was allocated for poverty alleviation funds, with 43.03 million in material donations, helping 826 registered impoverished individuals to escape poverty[127]. Legal and Compliance - The company faced no risks of suspension or termination of its listing status during the reporting period[99]. - The company disclosed that there were no major litigation or arbitration matters affecting its operations during the fiscal year[100]. - The audit report provided a standard unqualified opinion on the financial statements, indicating compliance with accounting standards[187]. Employee and Management Structure - The number of employees in the parent company is 48, while the total number of employees in major subsidiaries is 7,117, resulting in a combined total of 7,165 employees[170]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 5.879 million yuan[167]. - The company has a diverse management team with extensive experience in the aviation and manufacturing sectors, enhancing its operational capabilities[164].