SANY(SH:600031)2021-03-30 16:00Financial Performance - The company's operating revenue for 2020 reached CNY 99,341,988 thousand, representing a year-on-year increase of 31.29%[17] - The net profit attributable to shareholders for 2020 was CNY 15,431,465 thousand, up 36.25% from the previous year[17] - The net cash flow from operating activities was CNY 13,362,907 thousand, reflecting a 12.45% increase compared to 2019[17] - The total assets at the end of 2020 amounted to CNY 126,254,548 thousand, a 27.22% increase from the previous year[17] - The net assets attributable to shareholders reached CNY 56,562,464 thousand, marking a 19.96% increase year-on-year[17] - Basic earnings per share for 2020 were CNY 1.8397, an increase of 33.89% compared to 2019[18] - The diluted earnings per share for 2020 were CNY 1.8370, reflecting a 34.44% increase from the previous year[18] - The weighted average return on equity was 29.64%, an increase of 2.48 percentage points from 2019[18] - The company achieved total revenue of CNY 100.05 billion in 2020, a year-on-year increase of 31.25%[34] - Net profit attributable to shareholders reached CNY 15.43 billion, up 36.25% compared to the previous year[34] - The company’s cash flow from operating activities was CNY 13.36 billion, reflecting a 12.45% increase year-on-year[34] Revenue and Sales - Excavator sales revenue was CNY 37.53 billion, growing by 35.85%, maintaining the top sales position in the domestic market for 10 consecutive years[35] - Concrete machinery sales revenue reached CNY 27.05 billion, with a year-on-year growth of 16.6%, solidifying its position as the global leader[35] - International sales revenue was CNY 14.10 billion, remaining stable compared to 2019, with overseas excavator sales increasing by over 30%[42] - The company reported a total revenue of 10 billion RMB for the fiscal year 2020, representing a year-over-year increase of 15%[158] - User data indicates a growth in active users by 25% compared to the previous year, reaching 5 million active users[158] Research and Development - The company invested over 5% of its sales revenue in R&D, leading to a total of 10,278 patent applications, the highest in the domestic industry[28] - The company’s R&D investment reached 6.259 billion RMB in 2020, an increase of 33.20% year-on-year, accounting for 6.30% of total revenue[43] - The number of R&D personnel grew by 69% to 5,346 by the end of 2020, supporting enhanced product competitiveness[43] - The company launched 10 electric products covering various machinery types, utilizing advanced technologies such as remote control and big data analysis[41] - The company is investing 500 million RMB in R&D for new technologies aimed at enhancing operational efficiency and reducing emissions[158] Market Position and Strategy - The company maintains a strong market position in the concrete machinery sector, with a leading brand and increasing market share in excavators and cranes[27] - The company is focused on expanding its market presence and enhancing its technological capabilities through strategic investments and innovations[25] - The company aims to achieve a revenue target of 120 billion yuan in 2021[71] - The company plans to enhance its digital transformation by upgrading its lighthouse factory to become one of the world's most advanced factories[72] - The company will focus on internationalization, increasing resource investment in key markets, particularly in developed countries[73] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 6.00 per 10 shares to shareholders[5] - In 2020, the company distributed a cash dividend of 6.00 RMB per 10 shares, totaling approximately 5,057,425 thousand RMB, which represents 32.77% of the net profit attributable to ordinary shareholders[87] - The company implemented a cash dividend policy, distributing at least 5% of the distributable profits to shareholders annually, with a cumulative cash distribution of no less than 30% of the average annual distributable profits over the last three years[83] Risks and Compliance - The company faced risks including policy risks related to infrastructure investment, market risks from global trade protectionism, and exchange rate risks due to foreign currency transactions[79][80][81] - The company has not faced any risks of suspension or termination of its listing during the reporting period[94] - The company has not reported any instances of exceeding pollution discharge limits across its subsidiaries[120] - The company has not experienced any violations related to insider trading or regulatory actions during the reporting period[172] Environmental Responsibility - The company has established a comprehensive environmental protection strategy, ensuring all subsidiaries comply with national and local pollution discharge standards[120] - The company reported a total emission of 0.055 tons/year for sulfur dioxide, meeting the national standard[123] - The total emission of volatile organic compounds (VOCs) was 1.281 tons/year, which is below the permitted limit of 1.6984 tons/year[123] - The company has implemented a dust collection system with a capacity of 50,000 m³/hour, operational since April 2017[126] Corporate Governance - The company maintained compliance with corporate governance standards as per the Company Law and relevant regulations, with no significant discrepancies noted[173] - The company has established an online learning system to enhance employee competency and career development[170] - The company has a total of 10 board meetings held during the reporting period, ensuring thorough discussion and decision-making on significant matters[171] Employee and Management - The total number of employees in the company is 24,586, with 922 in the parent company and 23,664 in major subsidiaries[166] - The total remuneration paid to directors, supervisors, and senior management during the reporting period was 73.1419 million yuan[165] - The company has established a performance-based incentive evaluation system and provides annual performance bonuses based on employee performance and company results[168]