开山股份(300257) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was CNY 3,022,150,053.24, representing a 14.77% increase compared to the previous year[25]. - Net profit attributable to shareholders for 2020 was CNY 256,002,991.93, a 67.85% increase from CNY 152,522,160.42 in 2019[25]. - The net profit after deducting non-recurring gains and losses was CNY 229,722,370.87, up 67.67% from CNY 137,007,546.91 in 2019[25]. - The net cash flow from operating activities reached CNY 261,646,096.52, a significant increase of 801.42% compared to CNY 29,025,965.84 in 2019[25]. - Basic and diluted earnings per share for 2020 were both CNY 0.3, reflecting a 66.67% increase from CNY 0.18 in 2019[25]. - Total assets at the end of 2020 amounted to CNY 10,961,844,736.93, a 34.46% increase from CNY 8,152,223,247.60 in 2019[25]. - The company's net assets attributable to shareholders increased by 31.98% to CNY 4,746,763,769.00 from CNY 3,596,639,092.00 in 2019[25]. - The company achieved a revenue of 302,215.01 million CNY in 2020, representing a year-on-year increase of 14.77%[67]. - Net profit attributable to shareholders reached 25,600.30 million CNY, up 67.85% compared to the previous year[67]. - The total assets of the company increased by 34.46% year-on-year, amounting to 1,096,184.47 million CNY[67]. Dividend Distribution - The company reported a profit distribution plan, proposing a cash dividend of 0.3 RMB per 10 shares based on a total of 993,635,018 shares[8]. - The company achieved a net profit of ¥276,657,321 in 2020, with a proposed cash dividend of ¥0.3 per share, totaling ¥29,809,050.54, which represents 11.64% of the net profit attributable to shareholders[157]. - The cumulative distributable profit for the parent company at the end of 2020 was ¥1,127,963,811.06, with retained earnings of ¥1,098,154,760.52 to be carried forward to future distributions[157]. - The cash dividend distribution plan for 2020 was approved by the board on April 14, 2021, reflecting the company's commitment to returning value to shareholders[157]. - The company reported a total cash dividend of ¥29,809,050.54 for 2020, marking a significant increase from the previous year when no dividends were distributed[157]. Investment and Expansion - The company is expanding its overseas geothermal power market, facing potential political and policy risks in the countries of investment[6]. - Financial costs are expected to increase due to significant upfront investments in overseas geothermal projects, which may also expose the company to foreign exchange risks[8]. - The company will actively pursue multi-channel financing to reduce financial costs associated with overseas investments[8]. - The company has completed drilling work on 10 geothermal wells at the SMGP project, with an expected total resource capacity of approximately 100 MW[55]. - The company plans to complete the second phase of the 45MW geothermal power station in Indonesia by Q2 2021, despite delays caused by the pandemic[70]. - The company has signed an EPC contract worth 6.0352 million USD for a 3.2 MW project in Turkey, with expected operation in Q2 2021[57]. - The company plans to secure project financing from international financial institutions like the Asian Infrastructure Investment Bank, focusing on risk and cost control[146]. - The company has acquired geothermal assets in Turkey for $9.01 million, which includes five existing geothermal wells with an estimated resource capacity of 7-10MW[82]. - The company plans to expand its geothermal power business in the USA, capitalizing on the government's continued support for geothermal energy development[77]. Research and Development - The company aims to maintain a sustainable development team focused on research and development, management, and engineering technology[8]. - The company’s R&D investment for the reporting period was 10,637.55 million CNY, with a total of 135 valid patents held[63]. - The company has maintained a commitment to not occupy the funds of the listed company, ensuring compliance with regulatory requirements[161]. - The company has implemented measures to reduce related party transactions, including changing the electricity billing account to eliminate the need for advance payments to related parties[166]. - The company has established a commitment to avoid unnecessary related party transactions, adhering to market principles[176]. Risk Management - The company emphasizes the importance of a global recruitment strategy to optimize its teams for geothermal project development and compressor business operations[8]. - The company is committed to improving its risk assessment and control systems to minimize the impact of external risks on its overseas projects[6]. - The company acknowledges the ongoing macroeconomic risks, including the impact of the COVID-19 pandemic and trade tensions[6]. - The company faces risks related to macroeconomic conditions, including the ongoing COVID-19 pandemic and geopolitical tensions, which may adversely affect business development[149]. - The company anticipates increased financial costs due to significant upfront investments in overseas geothermal projects, alongside risks from currency fluctuations[150]. Operational Efficiency - The company has a procurement management system that includes supplier evaluation and management procedures, ensuring stable raw material supply and cost control[50]. - The company has transitioned its business model from selling compressors to providing compressed air service solutions, aiming to meet diverse customer needs and tap into existing markets[46]. - The company has established a complete and independent product R&D, manufacturing, marketing, and service system, focusing on the global expansion of its compressor business[46]. - The company has focused on the research, manufacturing, and sales of compressor products, maintaining a leading position in the industry[38]. - The company’s manufacturing scale ranks among the industry leaders, with a high self-manufacturing rate and advanced equipment levels, allowing effective control of production costs and product quality[50]. Corporate Governance - The company aims to enhance its governance structure and internal control mechanisms to ensure timely and accurate information disclosure, protecting the interests of investors[149]. - The company has adhered to all commitments made during the asset restructuring process, with no violations reported[161]. - The company has confirmed that there were no violations of commitments made by its controlling shareholders during the reporting period[170]. - The company has maintained compliance with all relevant laws and regulations, including those set forth by the China Securities Regulatory Commission[179].