JINMING MACHINERY(300281)2021-03-30 16:00Financial Performance - The company's operating revenue for 2020 was CNY 406,543,713.95, representing a 43.42% increase compared to CNY 283,473,180.50 in 2019[19]. - The net profit attributable to shareholders for 2020 was CNY 36,832,146.55, a 49.78% increase from CNY 24,590,023.02 in 2019[19]. - The net cash flow from operating activities increased by 120.53% to CNY 50,267,776.73 in 2020, compared to CNY 22,794,019.44 in 2019[19]. - The basic earnings per share for 2020 was CNY 0.09, up 50.00% from CNY 0.06 in 2019[19]. - The total assets at the end of 2020 were CNY 1,429,565,073.53, a decrease of 4.84% from CNY 1,502,206,559.97 at the end of 2019[19]. - The net assets attributable to shareholders increased by 2.42% to CNY 1,258,494,263.89 at the end of 2020, compared to CNY 1,228,756,706.81 at the end of 2019[19]. - The company reported a significant increase in net profit excluding non-recurring gains and losses, reaching CNY 14,097,746.79 in 2020, compared to a loss of CNY 27,642,535.51 in 2019[19]. - The company achieved a revenue of CNY 406,543,713.95, representing a year-on-year growth of 43.42%[56]. - The net profit attributable to shareholders was CNY 36,832,146.55, with a year-on-year increase of 49.78%[56]. - The revenue from the plastic machinery sector was CNY 304.69 million, accounting for 74.94% of total revenue, with a year-on-year growth of 74.36%[70]. - The company's R&D expenditure was 24,489,901.42 CNY, making up 6.02% of total revenue, with a year-on-year increase of 19.32%[84]. Dividend Distribution - The company reported a cash dividend of 0.28 RMB per 10 shares, based on a total of 418,923,580 shares[6]. - The cash dividend distributed in 2020 represents 31.85% of the net profit attributable to ordinary shareholders, which was 36,832,146.55 CNY[139]. - The total distributable profit for the year 2020 was 303,048,537.12 CNY, with a capital reserve balance of 495,466,196.12 CNY[134]. - The cash dividend amount for 2019 was 6,283,853.70 CNY, which accounted for 25.55% of the net profit attributable to ordinary shareholders[139]. - The company has maintained a consistent cash dividend distribution policy over the past three years, with no adjustments made to the cash dividend policy during the reporting period[133]. Market and Product Development - The company is focusing on expanding its market presence and enhancing its product offerings through new technology development[12]. - The company is involved in the production of various plastic machinery, including blown film machines and multi-layer co-extrusion technology[12]. - The company has established subsidiaries focused on intelligent equipment research and new material technology[12]. - The company is actively involved in the intelligent manufacturing sector and has been recognized as a key enterprise in the equipment manufacturing industry in Guangdong Province[28]. - The company is a leading manufacturer of high-end plastic film equipment, exporting to over 50 countries including Japan, Israel, and Russia[29]. - Recent product line expansion includes precision coating composite production lines and bi-directional stretching film production equipment, recognized for technical strength and process precision[30]. - The company has developed online coating wide-width agricultural film equipment and biodegradable agricultural film production equipment, breaking the reliance on imports[29]. - The company’s products serve various industries, including food packaging, agriculture, medical, and aerospace, with applications in high-end food preservation and biodegradable agricultural films[29]. - The company has successfully validated its ultra-wide five-layer greenhouse film technology, leading in key technologies compared to international peers[29]. - The company’s focus on R&D and innovation positions it well for future growth in the high-end equipment manufacturing sector[30]. Risk Management - The company faces risks including macroeconomic fluctuations, market competition, raw material price volatility, technology leakage, and exchange rate fluctuations[6]. - The company is committed to addressing investment risks and has outlined strategies to mitigate potential challenges[6]. - The company has acknowledged that the operational conditions for product promotion and large-scale market business are not yet sufficient, impacting project execution[105]. - The company emphasized the need for adjustments in project planning due to unfavorable impacts from macroeconomic fluctuations and industry changes[106]. Environmental and Social Responsibility - The company emphasizes social responsibility, focusing on safety production and energy conservation to create value for customers and opportunities for employees[170]. - The company is committed to green development, focusing on recyclable and biodegradable packaging, and continuously upgrading its energy-saving and environmentally friendly technologies[120]. - The company has a wastewater treatment capacity of 50 m³/h, utilizing a treatment process that includes neutralization, coagulation, and chemical precipitation, with no instances of exceeding discharge standards throughout the year[176]. - The company has successfully implemented pollution control measures, ensuring that emissions of chromium mist and hydrochloric acid were within the standard limits, with specific concentrations reported at 0.05 mg/m³ for chromium mist[177]. - The company has established a dedicated storage area for hazardous waste generated during production, ensuring proper disposal through qualified third-party services[177]. - The company has conducted quarterly environmental monitoring through qualified third-party testing agencies to ensure compliance with national and local regulations[179]. Corporate Governance - The company has established a clear framework for the responsibilities of its board and management to protect shareholder interests[170]. - The independent directors fulfilled their responsibilities and ensured the protection of minority shareholders' rights during the dividend distribution process[133]. - The company has committed to avoiding competition with its listed company and its subsidiaries, ensuring compliance with relevant regulations and protecting investor rights[140]. - The company has disclosed its fundraising adjustments and project terminations in compliance with regulatory requirements[109]. Investment and Financing - The total amount of cash inflow from investment activities was ¥971,291,343.02, a 23.51% increase from ¥786,402,495.39 in 2019[88]. - The company has invested a total of RMB 72.6 million in entrusted financial management products, including bank, trust, and brokerage products[168]. - The total amount of funds raised for the "Special Multifunctional Membrane Smart Factory Construction Project" reached 2,139.551 million yuan, achieving a progress rate of 97.65% as of December 31, 2020[109]. - The company has decided to terminate the fundraising investment projects for the smart factory and cloud big data service platform due to slow progress and lower-than-expected funding utilization efficiency[110]. Shareholder Information - The total number of shares is 418,923,580, with 320,901,916 shares (76.60%) being unrestricted and 98,021,664 shares (23.40%) being restricted[185]. - The largest shareholder, Ma Zhanxin, holds 16.85% of the shares, totaling 70,576,227 shares, with a decrease of 20,946,180 shares during the reporting period[189]. - The total number of shareholders at the end of the reporting period was 14,600[189]. - The company has not experienced any changes in its controlling shareholder during the reporting period[191].