Hymson(688559)2021-04-29 16:00Financial Performance - The company's operating revenue for 2020 was CNY 1,320,590,723.68, representing a 28.10% increase compared to CNY 1,030,923,945.62 in 2019[28]. - The net profit attributable to shareholders for 2020 was CNY 77,350,479.98, a decrease of 46.86% from CNY 145,546,332.41 in 2019[28]. - The net profit after deducting non-recurring gains and losses was CNY 46,996,966.5, down 39.32% from CNY 77,448,043.37 in the previous year[28]. - The net cash flow from operating activities increased by 38.85% to CNY 196,268,296.01 from CNY 141,351,009.03 in 2019[28]. - The net assets attributable to shareholders at the end of 2020 were CNY 1,380,745,815.36, an increase of 111.00% from CNY 654,390,674.27 at the end of 2019[28]. - Total assets at the end of 2020 reached CNY 3,613,811,014.36, reflecting a 66.94% increase from CNY 2,164,726,969.59 in 2019[28]. - The company's net profit attributable to shareholders was CNY 77.35 million, a year-on-year decrease of 46.86%[32]. - Basic and diluted earnings per share both decreased by 50.52% to CNY 0.48[32]. - The weighted average return on equity dropped to 9.04%, down 16.02 percentage points from the previous year[32]. - The gross profit margin declined due to rising raw material and labor costs, as well as increased outsourcing to meet order demands[32]. - The company's operating costs increased by 40.78% to 925.22 million RMB in 2020[181]. Research and Development - The total R&D investment for the year reached ¥107,039,341.61, representing a 21.29% increase from the previous year's ¥88,252,195.00, with R&D expenses accounting for 8.11% of operating revenue[113]. - The company completed 18 research projects in 2020, with 17 projects still ongoing as of the report date[158]. - The number of R&D personnel increased to 352, accounting for 14.96% of the total workforce, with an average salary of 17.03 thousand[137]. - The company has obtained a total of 309 authorized patents and 81 software copyrights as of December 31, 2020, with 20 new patents and 13 software copyrights granted during the reporting period[112]. - The company has accumulated a total of 533 patent applications, with 390 granted, indicating a strong focus on innovation and intellectual property development[112]. - The R&D investment ratio has decreased by 0.45 percentage points compared to the previous year, reflecting a strategic adjustment in resource allocation[113]. Market Position and Strategy - The company aims for international development and plans to expand production capacity and enhance R&D capabilities through capital market integration[155]. - The company has established strategic partnerships with leading clients such as Apple, Huawei, and Tesla, strengthening its market position in various sectors[143]. - The company is focused on expanding its market presence and developing new technologies to maintain its competitive edge[49]. - The company has established itself as a key supplier in the power battery equipment sector, serving major clients including CATL, Tesla, and Great Wall Motors, indicating a strong market position[87]. - The company emphasizes customized services and has set up a three-tiered service system to ensure rapid response to customer needs[144]. Risks and Challenges - The company faced risks from macroeconomic fluctuations, which could impact demand for laser and automation equipment in downstream manufacturing sectors[169]. - The company is exposed to intensified competition in the laser and automation equipment industry, with leading competitors generating significantly higher revenues[170]. - The ongoing COVID-19 pandemic has caused delays in production and logistics, potentially affecting the company's performance in 2021[177]. - The company has a risk related to currency fluctuations, particularly with its sales revenue being partially denominated in USD[178]. Product and Technology Development - The company’s main products are categorized into three major types: power battery laser and automation equipment, general laser and automation equipment, and precision laser and automation equipment for displays and fragile materials[46]. - The company plans to enhance its capabilities in laser and automation technologies to meet market demands[43]. - The company has developed advanced automation technologies to complement laser systems, including advanced material application, fixture design, and simulation technologies[105]. - The company has implemented a high-energy laser cutting technology that utilizes kilowatt to megawatt-level continuous or quasi-continuous lasers for precise cutting of various metal materials[101]. - The company has developed a stable parallel plane cavity design for its laser technology, improving energy conversion efficiency and reducing thermal effects, resulting in a compact laser device[98]. - The company has developed a high-power all-solid-state ultraviolet laser with an average power of ≥25W and a beam quality of M2≤1.3, achieving a power output deviation of <5% over 8 hours of continuous operation[6]. - The company has developed laser welding technology for high-reflective materials, enhancing the absorption rate and welding quality, with a weld point diameter of <0.6mm and a pull force CPK > 1.33[14]. Sales and Orders - The company signed sales orders of 2.5 billion yuan in 2020, a year-on-year increase of 56%[157]. - The backlog of orders as of December 31, 2020, was approximately 1.7 billion yuan, up 112% from the previous year[150]. - Overseas revenue surged by over 200%, primarily due to new customers such as Tesla and increased revenue from Apple and Celkon[185]. - The top five customers accounted for 41.15% of the annual sales, with the largest customer contributing 10.04%[192]. - The top five suppliers represented 22.15% of the total annual purchases, with the largest supplier accounting for 9.35%[195].