Hirisun(SZ:300277)2024-08-01 12:21Financial Performance - The company's operating revenue for 2020 was ¥318,780,729.58, a decrease of 2.70% compared to ¥327,630,091.46 in 2019[8] - Net profit attributable to shareholders increased by 129.98% to ¥24,918,893.70 from ¥10,835,146.21 in the previous year[8] - The net profit after deducting non-recurring gains and losses rose by 164.98% to ¥16,823,049.48, compared to ¥6,348,877.95 in 2019[8] - The basic earnings per share increased by 130.34% to ¥0.0744 from ¥0.0323 in 2019[8] - The company's total revenue for 2020 was 318,780,730.58 CNY, with a quarterly breakdown of 23,113,157.00 CNY in Q1, 43,828,670.03 CNY in Q2, 66,531,132.37 CNY in Q3, and 185,307,770.18 CNY in Q4[10] - The net profit attributable to shareholders for the year was 24,918,893.70 CNY, with quarterly figures of 3,264,366.68 CNY in Q1, 5,691,238.09 CNY in Q2, 7,907,100.79 CNY in Q3, and 8,056,188.14 CNY in Q4[10] - The company achieved operating revenue of CNY 318.78 million in 2020, a decrease of 2.70% compared to the previous year[24] - The net profit attributable to shareholders was CNY 24.92 million, an increase of 129.98% year-on-year[20] - The company reported a significant reduction in sales expenses by 54.40% to CNY 5,739,549.42, attributed to the decrease in consolidated subsidiaries[33] - The company’s total comprehensive income for 2020 was CNY 37,874,824.66, compared to CNY 13,535,557.18 in 2019, reflecting a substantial increase[158] Assets and Liabilities - The total assets at the end of 2020 were ¥754,357,984.41, a decrease of 7.52% from ¥815,658,367.81 at the end of 2019[8] - The total liabilities decreased from CNY 330,585,484.08 in 2019 to CNY 249,374,210.00 in 2020, a reduction of approximately 24.5%[151] - The total equity attributable to shareholders increased from CNY 469,233,357.39 in 2019 to CNY 484,102,251.09 in 2020, an increase of approximately 3.1%[152] - Total current assets fell from CNY 775,855,109.21 in 2019 to CNY 710,475,158.51 in 2020, a decrease of around 8.4%[150] - Cash and cash equivalents dropped significantly from CNY 152,208,334.86 in 2019 to CNY 66,994,346.50 in 2020, a decrease of about 56%[149] Cash Flow - The net cash flow from operating activities was ¥20,786,167.25, down 77.17% from ¥91,038,451.40 in 2019[8] - Cash flow from operating activities generated a net amount of CNY 20,786,167.25, down 77% from CNY 91,038,451.40 in 2019[162] - Cash inflow from operating activities totaled CNY 399,276,596.06, compared to CNY 464,424,223.02 in the previous year, reflecting a decline of approximately 14%[162] - Cash outflow from operating activities was CNY 378,490,428.81, slightly higher than CNY 373,385,771.62 in 2019[162] - Investment activities resulted in a net cash outflow of CNY 117,023,052.11, worsening from CNY 99,161,636.43 in 2019[163] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥0.4 per 10 shares, based on a total of 335,000,000 shares[2] - The company distributed a cash dividend of RMB 0.40 per 10 shares, totaling RMB 13,400,000.00 for the year 2020[54] - The cash dividend accounted for 53.77% of the net profit attributable to ordinary shareholders, which was RMB 24,918,893.70[56] - The company plans to maintain a cash dividend policy that ensures at least 80% of profits are distributed as cash dividends during its mature stage[55] Market Position and Strategy - The company has a strong market presence in the electric power information technology sector, having served major clients like the State Grid Corporation, which ensures stable demand for its services[15][17] - The company is focused on expanding its market reach and optimizing resource allocation to capitalize on opportunities arising from power system reforms[16] - The company anticipates increased investment in power grid informationization due to the strategic deployment of the State Grid, which is expected to bring new market opportunities[46] - The company aims to become a leading demand-driven enterprise in the domestic power informationization sector, providing one-stop comprehensive solutions for users[47] Governance and Management - The management team has been strengthened with new members, enhancing governance and operational efficiency through innovative management practices[18] - The company completed the appointment of new directors and management, resulting in a change of control in May 2020[20] - The company has emphasized the importance of talent management to maintain its competitive edge and support future development[53] - The company has established a performance evaluation and incentive mechanism, ensuring compliance with legal standards[124] Risks and Challenges - The company has disclosed potential risks in its future development outlook, which investors should be aware of[2] - The company faces market risks due to intensified competition in the power sector, which may lead to a decline in market share and profitability if it cannot maintain its technological and brand advantages[49] - The company recognizes the challenge of technology risks in the power informationization industry, particularly due to the loss of core technical personnel from divested subsidiaries[51] Research and Development - Research and development expenses for 2020 amounted to CNY 15,695,438.45, a decrease of 32.71% compared to CNY 23,325,941.31 in 2019, representing 4.92% of total operating revenue[35] - The company has a strong emphasis on research and development, particularly in the field of wireless communication and technology[107] - Research and development investments increased by 30%, totaling 150 million RMB, aimed at enhancing product innovation[111] Internal Controls and Compliance - The company maintained effective internal controls related to financial statements as of December 31, 2020, with no significant deficiencies reported[141] - The audit opinion issued for the financial statements was a standard unqualified opinion, confirming fair representation of the company's financial status[143] - The company has established an independent financial department and internal audit team, ensuring compliance with accounting laws and independent financial decision-making[129] Shareholder Structure - The largest shareholder, Hangzhou Financial Investment Group Co., Ltd., holds 29.80% of the shares, totaling 99,830,000 shares[94] - The company’s major shareholder, Hangzhou Jintou, became the controlling shareholder as of May 22, 2020, with the Hangzhou Municipal Government as the actual controller[86] - The company reported a total of 10,338 common shareholders at the end of the reporting period[93]