Hisense V.T.(SH:600060)2021-04-26 16:00Financial Performance - The company's operating revenue for 2020 was approximately ¥39.31 billion, an increase of 15.28% compared to ¥34.10 billion in 2019[13]. - The net profit attributable to shareholders of the listed company reached approximately ¥1.20 billion, representing a significant increase of 114.98% from ¥556.07 million in the previous year[13]. - The basic earnings per share for 2020 was ¥0.914, up 115.06% from ¥0.425 in 2019[14]. - The weighted average return on net assets increased to 7.92%, up by 4.05 percentage points from 3.87% in 2019[14]. - The company reported a significant increase in paid users in the education sector, with a growth rate of 335% year-on-year[25]. - The total operating revenue for 2020 reached ¥39,314,718,113.16, an increase from ¥34,104,738,789.95 in 2019, representing a growth of approximately 15.5%[126]. - The total profit for 2020 was approximately ¥1.64 billion, compared to ¥763.47 million in 2019, marking a significant increase of 115%[127]. - The company reported a comprehensive income total of approximately ¥1.48 billion for 2020, compared to ¥808.27 million in 2019, showing a growth of 83%[127]. Cash Flow and Financial Position - The net cash flow from operating activities was approximately ¥124.23 million, a decrease of 93.04% compared to ¥1.78 billion in 2019[13]. - The company's cash flow from financing activities showed a significant outflow of ¥1.75 billion, an increase of 268.96% compared to the previous year[34]. - The total cash and cash equivalents at the end of 2020 were CNY 1,086,552,738.81, down from CNY 1,791,982,236.59 at the end of 2019[134]. - The company reported a total sales revenue of CNY 38,159,209,454.20 for the year, compared to CNY 37,189,022,620.36 in the previous year, indicating a growth of approximately 2.6%[132]. - The net cash flow from investment activities improved to CNY 888,582,113.55 in 2020, recovering from a negative cash flow of CNY 1,672,712,330.00 in 2019[133]. Assets and Liabilities - The total assets at the end of 2020 amounted to approximately ¥31.46 billion, reflecting a growth of 7.45% from ¥29.27 billion at the end of 2019[13]. - Total liabilities reached ¥13,981,589,372.70 in 2020, compared to ¥13,008,170,472.45 in 2019, marking a growth of approximately 7.47%[122]. - Accounts receivable surged to ¥4,761,366,618.03 in 2020, compared to ¥2,958,102,562.41 in 2019, showing an increase of approximately 60.93%[123]. - Inventory levels increased significantly to ¥1,822,874,224.00 in 2020 from ¥1,067,813,408.86 in 2019, representing a growth of about 70.73%[123]. - The company's total liabilities increased to ¥8,804,347,939.65 in 2020 from ¥7,937,313,836.14 in 2019, representing a rise of about 10.9%[125]. Research and Development - Research and development expenses rose by 22.02% to ¥1.74 billion, representing 4.43% of total operating revenue[33]. - The company successfully developed key technologies for 4K monitors and launched several new products, breaking the market dominance of Japanese and Korean brands[24]. - The company aims to accelerate the research of Micro-LED and Mini-LED core components, with Micro-LED products expected to launch in 2021[45]. Market Performance - The company maintained a 19.0% market share in China's retail television market, an increase of 1.07 percentage points year-on-year[23]. - The overseas market experienced a 31% growth, with the U.S. market growing by 64% and Canada by 59%[23]. - The laser television segment achieved a 22.13% year-on-year growth, with the company holding a 32.74% market share in the 80+ inch segment[23]. Corporate Governance and Management - The company has a diverse board with members holding positions in various other organizations, enhancing its governance structure[97]. - The management team includes experienced professionals from various sectors, contributing to strategic decision-making[96]. - The company emphasizes the importance of corporate governance and accountability through its independent directors[97]. Shareholder Information - The largest shareholder, Hisense Group Holdings Co., Ltd., holds 392,505,971 shares, representing 29.99% of the total shares[82]. - The report indicates that there are no restrictions on the shares held by the top ten unrestricted shareholders[83]. - Hisense Group Holdings Co., Ltd. is involved in various businesses, including home appliance R&D, manufacturing, and sales, as well as real estate and investment activities[84]. Financial Management and Investments - The company has entrusted a total of ¥1,787,200,000 in financial management, with an outstanding balance of ¥722,650,950[61]. - The company plans to continue its financial management strategy in the future[62]. - The company recognizes investment income from the disposal of long-term equity investments, with the difference between the book value and actual proceeds recorded in the current period[181]. Compliance and Audit - The audit report confirms that the financial statements fairly reflect the company's financial position as of December 31, 2020[110]. - The company has established internal controls to ensure compliance with corporate governance standards[103]. - The management is tasked with evaluating the company's ability to continue as a going concern, disclosing relevant matters as necessary[117].