Costar Group(002189)2021-04-20 16:00Financial Performance - The company's operating revenue for 2020 was ¥3,332,969,078.73, representing a 30.58% increase compared to ¥2,552,362,826.97 in 2019[17]. - The net profit attributable to shareholders for 2020 was ¥147,111,529.10, a 49.87% increase from ¥98,157,661.51 in 2019[17]. - The basic earnings per share for 2020 was ¥0.56, up 47.37% from ¥0.38 in 2019[18]. - The total assets at the end of 2020 were ¥3,475,881,684.28, a 9.73% increase from ¥3,167,721,503.79 at the end of 2019[18]. - The net assets attributable to shareholders at the end of 2020 were ¥1,484,298,588.31, a 9.43% increase from ¥1,356,436,013.92 at the end of 2019[18]. - The net cash flow from operating activities for 2020 was ¥255,778,935.17, a decrease of 13.11% from ¥294,368,971.32 in 2019[17]. - Total revenue for Q1 was ¥405.31 million, Q2 was ¥1.28 billion, Q3 was ¥854.31 million, and Q4 was ¥792.04 million[22]. - Net profit attributable to shareholders for Q1 was -¥25.70 million, Q2 was ¥79.83 million, Q3 was ¥30.45 million, and Q4 was ¥62.54 million[22]. - The net cash flow from operating activities in Q4 was ¥422.51 million, showing a significant recovery compared to previous quarters[22]. - The company received government subsidies amounting to ¥58.25 million in 2020, a substantial increase from ¥4.70 million in 2019[24]. - In 2020, the company achieved a revenue of CNY 3.333 billion, representing a year-on-year growth of 30.58%, and a net profit of CNY 147 million, up 49.87% year-on-year[38]. - The total revenue for 2020 reached ¥3,332,969,078.73, a year-on-year increase of 30.58% compared to ¥2,552,362,826.97 in 2019[43]. - The revenue from projectors and accessories saw a significant increase of 72.55%, amounting to ¥1,380,457,920.65 in 2020, up from ¥800,042,822.53 in 2019[43]. - Domestic revenue accounted for 79.87% of total revenue, increasing by 34.72% to ¥2,662,023,142.68 from ¥1,975,950,038.66 in 2019[43]. - The gross profit margin for optical instrument manufacturing decreased by 3.60% to 14.22% in 2020, down from 17.82% in 2019[45]. - Research and development expenses increased by 12.77% to ¥188,686,228.34, representing 5.66% of total revenue[52]. - The sales volume of optical components increased by 27.34% to 19,495.63 million units in 2020, compared to 15,309.32 million units in 2019[46]. - The company’s top five customers accounted for 50.22% of total sales, with the largest customer contributing 17.42%[51]. - The cost of raw materials for optical instrument manufacturing increased by 51.22% to ¥2,245,030,088.78, up from ¥1,484,482,267.12 in 2019[48]. - The company reported a total investment of CNY 131,199,109.97 in 2020, a 123.48% increase from CNY 58,707,444.82 in the previous year[63]. - The company achieved a total revenue of 4,346.5 million CNY for the reporting period, exceeding the original profit forecast of 3,992.37 million CNY[105]. Research and Development - The company invested 5.66% of its main business revenue in R&D, applied for 46 patents, and received 29 patents, including 3 invention patents[39]. - The company has developed over ten new products and technologies, including various types of night vision sights and infrared sights, enhancing its innovation capabilities[32]. - The company has a robust R&D capability, supported by a team of industry professionals and advanced manufacturing equipment[31]. - The company’s R&D investment is projected to exceed 5% of revenue, with an 80% completion rate for planned research projects[85]. - The company is developing an "AI + cloud-edge collaboration" intelligent software platform for smart security, alongside other key product developments[86]. Market Position and Strategy - The company has established a leading position in the global optical components market, with a strong market share in digital optical precision components[27]. - The company continues to focus on expanding its product offerings and market presence in the optical industry[15]. - The company has established strong partnerships with well-known projection brands, covering various applications in home entertainment, digital cinema, and education[33]. - The company has identified the optical defense business as a key area for growth, driven by advancements in 5G, AI, big data, and cloud computing[79]. - The company aims to enhance its core competitiveness in the optoelectronic defense and monitoring business, focusing on both domestic and international markets[82]. - The optical components and lens business will target leading industry clients, optimizing customer and product structures to expand market share rapidly[83]. - The company plans to accelerate the mass production of new generation mobile phone prisms and has successfully entered major industry clients for automotive-related products[84]. - The company has implemented a three-year action plan for reform, including incentive systems to enhance operational efficiency[86]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of ¥1.96 per 10 shares, based on a total of 262,525,166 shares[5]. - The cash dividend distribution represents 34.98% of the net profit attributable to ordinary shareholders for the year 2020, which was 147,111,529.10 yuan[92]. - Over the past three years, the cash dividend amounts have increased from 16,418,104.50 yuan in 2018 to 51,454,932.54 yuan in 2020, reflecting a growth rate of 213.06%[92]. - The total distributable profit for the year 2020 was 523,409,921.21 yuan, with the cash dividend accounting for 100% of the profit distribution[95]. - The company has not proposed any cash dividend distribution plan for the period when the profit available for distribution was positive[92]. - The cash dividend distribution strategy aligns with the company's commitment to returning value to shareholders while maintaining financial stability[95]. Compliance and Governance - The company has committed to fulfilling all promises made regarding shareholding and related transactions during the reporting period[97]. - The company guarantees that all materials provided to intermediaries are true, accurate, and complete, with no discrepancies between copies and original documents[100]. - The company has not faced any administrative penalties from the China Securities Regulatory Commission in the last 36 months[100]. - The company has committed to linking stock incentive conditions to performance measures[99]. - The company has established a performance commitment agreement, ensuring compensation if performance targets are not met[99]. - The company emphasizes compliance with legal obligations and has not been involved in any insider trading activities[100]. - The company has established a transparent performance evaluation and incentive mechanism for management, enhancing operational efficiency and economic benefits[199]. - Information disclosure is conducted in compliance with legal requirements, ensuring timely and accurate communication to all shareholders[199]. - The company respects the rights of stakeholders and promotes communication with shareholders, employees, and society for sustainable development[199]. Environmental Responsibility - The company has implemented pollution prevention facilities in compliance with national standards, ensuring proper waste disposal and treatment[150]. - Wastewater treatment facilities are in place to handle various types of wastewater, including optical production and electroplating wastewater, ensuring compliance with discharge standards[150]. - The company has established a comprehensive waste management system, including the disposal of hazardous waste by qualified companies[150]. - Environmental monitoring is conducted annually by accredited institutions to ensure compliance with emission standards[150]. - The company has reported no violations in its "three wastes" (wastewater, waste gas, and solid waste) emissions to date[150]. - The company is committed to enhancing its environmental protection measures and maintaining compliance with regulatory requirements[150]. - The company conducted environmental impact assessments for all new, modified, and expanded projects in compliance with national environmental laws and regulations[151]. Employee and Management Information - The total number of employees in the company is 3,327, with 2,308 in production, 92 in sales, 490 in technical roles, 50 in finance, and 387 in administration[191]. - The company reported a total remuneration of 531.09 million yuan for its directors and senior management during the reporting period[191]. - The company has established a salary growth mechanism that adjusts annually based on regional average salary levels and inflation[192]. - The company emphasizes continuous employee training and development, focusing on enhancing the skills of mid-to-senior management and core talent[193]. - The total remuneration for the chairman is 76.55 million yuan, while the general manager receives 76.37 million yuan[190]. Legal and Litigation Matters - The company is involved in litigation with a total amount of 11.11 million yuan, with no provisions for losses expected[113]. - The company has received a favorable judgment in one case related to overdue accounts receivable amounting to 4.6461 million yuan[113]. - The company has not faced any bankruptcy restructuring issues during the reporting period[112]. Share Structure and Ownership - The total number of shares decreased from 262,568,166 to 262,525,166 due to the repurchase and cancellation of 43,000 restricted shares[157]. - The largest shareholder, China Weapon Equipment Group Co., Ltd., holds 39.37% of the shares, totaling 103,359,556 shares, with a decrease of 12,852,947 shares during the reporting period[164]. - The second-largest shareholder, Guoxin Investment Co., Ltd., holds 3.24% of the shares, totaling 8,508,689 shares, with an increase of 1,994,032 shares during the reporting period[164]. - The company has a diversified shareholder structure, with significant holdings from various state-owned and private entities[165]. - The company’s controlling shareholder is a central state-owned entity, primarily engaged in state asset investment and management[167].