HAITIAN INT'L(HK:01882)2021-04-15 10:46Financial Performance - The company's sales revenue for the year ended December 31, 2020, reached RMB 11,800.1 million, an increase of 20.3% compared to RMB 9,809.7 million in 2019[30]. - The net profit attributable to shareholders for the year was RMB 2,388.0 million, representing a growth of 36.4% from RMB 1,750.5 million in the previous year[30]. - Domestic sales accounted for RMB 8,281.5 million (70.2% of total sales), up 30.2% from RMB 6,362.0 million (64.9% of total sales) in 2019[31]. - Export sales increased by 2.1% to RMB 3,518.6 million (29.8% of total sales) compared to RMB 3,447.7 million (35.1% of total sales) in 2019[31]. - The gross profit margin improved from 31.6% in 2019 to 34.2% in 2020, while the net profit margin rose from 17.9% to 20.2%[30]. - Cash generated from operating activities reached RMB 3,278.2 million, compared to RMB 2,729.8 million in 2019[37]. - Gross profit for 2020 was approximately RMB 4,040.3 million, up 30.4% from RMB 3,098.7 million in 2019, with a gross margin of 34.2% compared to 31.6% in 2019[39]. - Shareholders' profit increased by 36.4% to RMB 2,388.0 million in 2020 compared to 2019[43]. - Cash and cash equivalents totaled RMB 3,746.4 million as of December 31, 2020, up from RMB 1,538.4 million in 2019[43]. Dividends - The board declared a second interim dividend of HKD 0.65 per share and a special interim dividend of HKD 0.75 per share, totaling HKD 1.64 per share for 2020, compared to HKD 0.40 per share in 2019[30]. - The interim dividend for 2020 was HKD 0.24, with a second interim dividend of HKD 0.65 and a special interim dividend of HKD 0.75, totaling HKD 1.64[61]. - The total annual dividend will be HKD 1.64 per share[175]. Market Expansion and Strategy - The company expanded its overseas network, leading to notable sales increases in regions like Turkey and Vietnam despite challenges in markets such as India and Brazil[32]. - The company plans to enhance global market layout and improve market share in various industries as part of its 14th Five-Year Plan strategy[35]. - The company is actively involved in strategic management and governance through its board of directors, which includes family members and experienced professionals[52][53][54][55]. Environmental Responsibility - The company has a strong focus on environmental protection and reducing pollution during production processes[65]. - The company has established a zero-tolerance policy towards illegal activities such as bribery, extortion, fraud, and money laundering, with immediate termination for any employee involved[66]. - The company has successfully passed the ISO 14001:2015 environmental management system certification since 2017, maintaining compliance through annual audits[68]. - The company has established a dedicated environmental protection department to monitor compliance with environmental policies across factories[74]. - The company has implemented measures to reward energy-saving and pollution prevention initiatives while imposing penalties for non-compliance with environmental standards[96]. Employee Welfare and Development - The company emphasizes comprehensive care for employees, including safety and support for community activities[65]. - The management team has extensive experience in their respective fields, with key members having over 20 years of relevant experience[60]. - The company emphasizes employee training and development, ensuring a stable workforce and a supportive work environment[104]. - The company provides various employee welfare benefits, including participation in social security plans covering medical, work injury, and retirement insurance[122]. - Employee turnover rates increased from 5.3% in 2019 to 6.5% in 2020[111]. Corporate Governance - The board of directors consists of five executive directors, two non-executive directors, and four independent non-executive directors, ensuring a balanced skill set and experience[142]. - The audit committee has been formed to review and supervise the group's financial reporting procedures and internal controls, consisting of three independent non-executive directors[154]. - The company has adopted a board diversity policy to enhance management quality and performance by considering various factors such as age, gender, education, and professional experience[152]. - The company conducts regular internal control assessments to identify potential risks affecting its business and financial processes[158]. - The company has implemented strict controls and confidentiality measures for handling and disclosing inside information[159]. Social Responsibility - The company has invested over 202 million RMB in social welfare initiatives by 2020[132]. - The Zhejiang Haitian Charity Foundation was established in 2013 to support underprivileged groups[132]. - The company provided medical assistance to 20,000 individuals facing severe illnesses and financial difficulties, with total expenditures amounting to RMB 20 million[134]. - Community assistance efforts included a total expenditure of RMB 420,000 to support impoverished families during the Chinese New Year[135]. - The company has organized the Charity Day event for eight consecutive years, providing various community services and support[138]. Innovation and Technology - The company has established various innovation teams focused on green energy-saving technologies, intelligent equipment, and electric injection molding[103]. - The collaboration with Beijing University of Chemical Technology has led to advancements in intelligent injection molding equipment technology[106]. - The company has developed a third-generation energy-saving injection molding machine, significantly enhancing energy efficiency across hydraulic, mechanical, and electronic control domains[99]. - The intelligent water distribution system for cooling molds allows precise temperature control, leading to energy savings and reduced water consumption[100]. - The company is expanding its market share in all-electric and hybrid injection molding machines, which are more energy-efficient and environmentally friendly, achieving energy savings of 20% to 70% compared to traditional hydraulic machines[102][104].