DHI(SZ:002487)2021-04-28 16:00Financial Performance - The company's operating revenue for 2020 was CNY 3,325,417,315.93, representing a 97.08% increase compared to CNY 1,687,338,341.00 in 2019[25]. - The net profit attributable to shareholders for 2020 was CNY 465,022,875.68, a significant increase of 164.75% from CNY 175,645,885.82 in 2019[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 452,518,888.20, up 189.77% from CNY 156,164,258.84 in the previous year[25]. - The basic earnings per share for 2020 was CNY 0.84, which is a 165.49% increase compared to CNY 0.3164 in 2019[25]. - The total assets at the end of 2020 were CNY 4,659,929,270.87, reflecting a 26.38% increase from CNY 3,687,316,763.73 at the end of 2019[25]. - The net assets attributable to shareholders at the end of 2020 were CNY 2,410,155,926.49, a 20.05% increase from CNY 2,007,708,885.34 in 2019[25]. - The company reported a net cash flow from operating activities of CNY 17,427,320.33, which is a decrease of 92.37% compared to CNY 228,416,008.19 in 2019[25]. - The weighted average return on equity for 2020 was 20.85%, an increase of 11.60% from 9.25% in 2019[25]. Revenue and Sales - The company's total revenue for the fourth quarter reached ¥1,306,590,797.91, showing a significant increase compared to previous quarters[30]. - The net profit attributable to shareholders for the fourth quarter was ¥156,353,291.56, reflecting a strong performance growth[30]. - The company achieved a revenue of 332,541.73 million yuan in 2020, representing a year-on-year increase of 97.08%[57]. - The metal products industry accounted for 98.85% of total revenue, with wind tower sales generating ¥3,287,066,072.45, up 97.42% year-on-year[67]. - Domestic sales reached ¥2,721,378,796.01, a significant increase of 199.60% from ¥908,339,679.34 in 2019, while export sales decreased by 22.46% to ¥604,038,519.92[70]. - The company sold 408,266 tons of metal products in 2020, a 99.55% increase from 204,589 tons in 2019, driven by increased demand and enhanced production capacity[73]. Production and Capacity - The company completed a production volume of 395,200 tons, an increase of 85% year-on-year[57]. - The company has established four production bases with total designed capacities of 20 million tons/year in Fuxin, 50 million tons/year in Penglai, 10 million tons/year in Inner Mongolia, and 20 million tons/year in Zhangjiakou[47]. - The company implemented capacity enhancement measures, increasing the production capacity of the Penglai base to 500,000 tons/year and the Fuxin base to 200,000 tons/year[62]. Research and Development - The company has increased its research and development expenditure by 255.59% compared to the beginning of the period, indicating a commitment to innovation[45]. - R&D expenses surged by 93.04% to CNY 132,872,292.93, reflecting increased investment in R&D[87]. - R&D personnel increased by 26.76% to 90, while R&D investment rose by 97.39% to CNY 137,073,520.62, maintaining a ratio of 4.12% of operating revenue[89]. - The company is actively involved in the research and development of new energy technologies and equipment, aiming to strengthen its competitive edge in the market[79][80]. Market Position and Strategy - The company has established itself as a strategic supplier for many quality customers in the wind power equipment manufacturing industry, positioning itself in the top tier globally[41]. - The company is actively expanding its market presence and has established long-term partnerships with major players like Vestas, GE, and Goldwind[52]. - The company aims to achieve sales of ¥10 billion and production of 1 million tons, focusing on expanding its international market share and enhancing regional competitiveness[115]. - The company signed a strategic cooperation framework agreement for a wind power industrial park project, aiming to strengthen its vertical integration within the industry chain[120]. Financial Management and Investments - The company emphasized innovation and R&D to enhance product quality and reduce costs, aiming to maintain a competitive edge in the market[88]. - The company has not engaged in any significant equity or non-equity investments during the reporting period[103]. - The company did not have any significant accounting errors that required retrospective restatement during the reporting period[147]. - The company has entrusted financial management with a total amount of 78,081, with no overdue amounts or risks of principal recovery[190]. Risk Management - The company faces risks from macroeconomic fluctuations and industry policy changes, which could adversely affect operations; it aims to enhance core competitiveness and risk resilience[124]. - The company is exposed to foreign exchange risks due to international economic uncertainties and plans to mitigate these through forward exchange rate hedging[125]. - Rising raw material costs, particularly steel, pose a significant risk to operating costs; the company will strengthen market analysis and supplier communication to manage this[126]. Corporate Governance and Compliance - The company has not faced any major litigation or arbitration during the reporting period[159]. - The company has a continuous audit service from the accounting firm for 8 years, with an audit fee of 500,000 RMB[155]. - The company emphasizes social responsibility, ensuring the protection of stakeholders' rights and interests, and enhancing transparency through various communication channels[194]. - The company adheres to safety production standards and implements safety management measures to control accidents[195]. Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.08 per 10 shares to all shareholders based on a total share capital of 555,718,000 shares as of March 31, 2021[7]. - The company’s available profit for distribution is RMB 205,027,698.50, with cash dividends accounting for 100% of the profit distribution[139]. - The cash dividend for 2019 was RMB 0.26 per 10 shares, totaling RMB 14,420,744, which accounted for 8.21% of the net profit attributable to ordinary shareholders[135].