Sinomag Tech.(SZ:300835)2021-03-26 16:00Dividend Distribution - The company plans to distribute a cash dividend of 2 CNY per 10 shares to all shareholders, based on a total of 70,670,000 shares[5]. - The company distributed a cash dividend of RMB 35,335,000.00, which is RMB 5.00 per 10 shares, during the first half of 2020[92]. - For the full year 2020, the cash dividend was set at RMB 14,134,000.00, or RMB 2.00 per 10 shares, with no stock dividends or capital reserve transfers[93]. - The total cash dividend for 2020 accounted for 51.80% of the net profit attributable to the parent company, which was RMB 68,215,906.70[94]. - The cash dividend policy is compliant with the company's articles of association and has been transparently communicated to shareholders[92]. - The total distributable profit for the reporting period was RMB 416,503,792.68, with cash dividends representing 100% of the profit distribution[92]. - The company has maintained a consistent approach to cash dividends, with clear standards and procedures in place for decision-making[92]. - No adjustments or changes to the cash dividend policy were made during the reporting period[92]. - The company has not proposed any stock dividends or capital reserve transfers in the recent years, focusing solely on cash dividends[93]. - The company’s cash dividend distribution reflects its commitment to returning value to shareholders while ensuring compliance with regulatory requirements[92]. Financial Performance - The company's operating revenue for 2020 was CNY 559,133,254.97, representing a 1.47% increase compared to CNY 551,016,953.92 in 2019[18]. - The net profit attributable to shareholders decreased by 19.39% to CNY 68,215,906.70 from CNY 84,626,934.01 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was CNY 52,232,324.57, down 24.01% from CNY 68,736,752.07 in 2019[18]. - The total assets increased by 28.72% to CNY 1,065,097,884.02 at the end of 2020, compared to CNY 827,435,229.08 at the end of 2019[18]. - The net assets attributable to shareholders rose by 56.27% to CNY 836,848,383.07 from CNY 535,529,352.51 in 2019[18]. - The company reported a basic earnings per share of CNY 1.08, a decrease of 32.50% from CNY 1.60 in 2019[18]. - The weighted average return on equity was 9.50%, down from 17.07% in the previous year, reflecting a decline of 7.57%[18]. Operational Highlights - The company maintained a stable revenue growth in the automotive and energy-saving variable frequency air conditioning sectors, becoming a leading supplier of magnetic steel globally[29]. - The company has established long-term cooperative relationships with well-known domestic and foreign manufacturers, enhancing its market competitiveness[29]. - The company reported a production volume of 20,604.99 tons for wet-pressed magnetic tiles, a decrease of 9.16% from the previous year[45]. - The company’s inventory of wet-pressed magnetic tiles decreased by 23.29% to 4,467.46 tons[45]. - The company emphasized quality management and cost control to improve profitability amid intense market competition[38]. - The company aims to become a mainstream manufacturer in the global magnetic materials industry by expanding its market and product offerings[39]. Research and Development - The company maintained a strong focus on R&D, increasing investment to enhance market competitiveness and develop new products[37]. - Research and development expenses totaled ¥29.12 million, which is 5.21% of total revenue, up from 4.91% in the previous year[55]. - The company applied for 39 patents during the year, including 5 invention patents and 34 utility model patents, with 20 patents granted[54]. Corporate Governance - The company has established a governance structure in compliance with relevant laws and regulations, ensuring the protection of shareholder rights[191]. - The board of directors consists of 7 members, including 3 independent directors, and has established various committees to enhance decision-making[191]. - The company maintains independence from its controlling shareholder in terms of assets, personnel, and financial operations, with no shared resources or financial accounts[195]. - The company has a dedicated internal audit department that oversees the authenticity and completeness of financial information[193]. - The company emphasizes transparency in information disclosure, utilizing multiple media outlets to ensure timely and accurate communication with shareholders[192]. Shareholder Information - The total number of shareholders increased from 13,697 to 14,066, representing a growth of approximately 2.7%[160]. - The largest shareholder, Xiong Yonghong, holds 28.54% of the shares, amounting to 20,170,000 shares, with no changes during the reporting period[161]. - The second-largest shareholder, Xiong Yongge, owns 10.43% of the shares, totaling 7,374,000 shares, also with no changes[161]. - The company has no preferred shares or convertible bonds outstanding during the reporting period[167][170]. - There were no changes in the controlling shareholders during the reporting period, with Xiong Yonghong and Xiong Yongge remaining the actual controllers[163][165]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report, highlighting potential operational risks[5]. - The company is addressing risks from rising labor costs by improving production efficiency and increasing automation levels[88]. - The company has committed to ensuring the accuracy, completeness, and timeliness of its IPO prospectus, taking legal responsibility for any false statements or omissions[104]. Social Responsibility - The company actively fulfilled its social responsibilities, ensuring the protection of shareholder and creditor rights[143]. - The company has actively engaged in social responsibility, donating tens of thousands of RMB for COVID-19 prevention efforts[144]. - The company has fulfilled its tax obligations in a timely manner since its establishment[144]. Future Plans - The company plans to significantly increase its production capacity for wet-pressed magnetic tiles, enhancing overall efficiency and profitability[75]. - In 2021, the company plans to enhance R&D investment and optimize customer structure to improve delivery and service capabilities[85]. - The company will actively seek new growth points and expand its business layout while focusing on its core business of wet-pressed magnetic tiles[85].