Nisco(SH:600282)2021-03-26 16:00Financial Performance - The company's operating revenue for 2020 was CNY 53.12 billion, an increase of 10.74% compared to CNY 47.97 billion in 2019[23]. - Net profit attributable to shareholders for 2020 was CNY 2.85 billion, reflecting a 9.20% increase from CNY 2.61 billion in 2019[23]. - The net cash flow from operating activities decreased by 41.01% to CNY 2.57 billion in 2020, down from CNY 4.35 billion in 2019[23]. - The total assets at the end of 2020 were CNY 47.91 billion, a 9.83% increase from CNY 43.62 billion at the end of 2019[23]. - Basic earnings per share for 2020 were CNY 0.5550, a decrease of 5.75% from CNY 0.5888 in 2019[24]. - The weighted average return on equity for 2020 was 14.53%, down from 16.37% in 2019, a decrease of 1.84 percentage points[24]. - The company reported non-recurring gains of CNY 383.36 million in 2020, compared to CNY 256.91 million in 2019[27]. - The gross profit margin for advanced steel materials was 14.90%, an increase of 1.18 percentage points year-on-year, with a total gross profit of 1.117 billion yuan, up 19.21%[56]. - The company achieved a net profit of 3.188 billion yuan in the reporting period, with a decrease of 41.01% in net cash flow from operating activities compared to the previous year[95]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 2.50 per 10 shares to all shareholders, excluding the repurchased shares, based on a total share capital of 21,980,000 shares in the repurchase account[6]. - The cash dividend payout ratio for 2020 was 53.80% of the net profit attributable to ordinary shareholders, compared to 50.80% in 2019[154]. - The total cash dividends distributed in 2019 amounted to RMB 1,323,906,707.10, with a dividend of RMB 3.00 per 10 shares[150]. - The company's net profit for 2020 was RMB 712,847,742.74, leading to a cumulative distributable profit of RMB 2,400,700,210.38 after accounting for the previous year's dividend[151]. - The independent directors approved the 2020 profit distribution plan, confirming it aligns with regulatory guidelines and does not harm shareholder interests[152]. Corporate Governance - The company has confirmed that all board members attended the board meeting[4]. - The company has not violated any decision-making procedures for providing guarantees[8]. - The company does not have any non-operating fund occupation by controlling shareholders or related parties[8]. - The company has committed to maintaining independence from its controlling shareholders, ensuring personnel, assets, finances, and operations remain separate[173]. - The company guarantees that it will not interfere with the management activities of its subsidiaries or misappropriate their interests[174]. Market Position and Strategy - The company has an annual crude steel production capacity of 10 million tons, positioning itself as a leading high-efficiency steel enterprise[32]. - The company focuses on creating an ecosystem centered around new steel materials, emphasizing industrial development and value growth[32]. - The company is one of the largest single-site medium and thick plate production bases globally and a competitive special steel long product production base in China[33]. - The company has developed advanced energy steel and high-strength marine steel, contributing to major national projects and achieving significant technological breakthroughs[33]. - The company is focusing on the development of high-performance materials for the rapidly growing rail transit sector, addressing the urgent demand for advanced materials[94]. Research and Development - The company has developed 166 new products and technological achievements, with 92 reaching international leading or advanced levels[47]. - The company has established a high-end R&D platform with 32 achievements recognized at provincial and ministerial levels since 2010[49]. - The company holds 979 valid patents, including 392 invention patents, and has received a China Patent Excellence Award[50]. - Research and development expenses increased by 45.85% to 848.91 million yuan, primarily due to increased investment in digital R&D and new product development[89]. - The total R&D investment reached 212.50 million yuan, representing 4.00% of operating revenue[90]. Environmental and Social Responsibility - The company is focusing on low-carbon and green development, aiming for peak carbon emissions by 2030 and carbon neutrality by 2060[131]. - The company reduced its total emissions of key pollutants, with particulate matter, sulfur dioxide, and nitrogen oxides decreasing by 15%, 48%, and 47% respectively[70]. - The company aims to achieve ultra-low emissions and meet A-level standards by enhancing its production processes[134]. - The company has committed to not utilizing its controlling position to occupy funds, assets, or other resources of its subsidiaries[179]. Financial Position and Investments - The company's cash and cash equivalents increased to ¥5,686,920,373.25, representing 11.87% of total assets, up 33.33% from the previous period[98]. - The company's total assets reached ¥47,906,285,930.71, a 9.83% increase compared to the previous year[101]. - The company reported a significant increase in goodwill to ¥206,824,872.31, up 1,979.65% due to acquisitions[100]. - The company invested in a new 2.6 million ton per year coke project in Indonesia, expanding its supply chain[71]. - The company completed the acquisition of a 38.72% stake in Nanjing Steel Development for a transaction price of 4.585 billion yuan[199]. Compliance and Legal Matters - The company has not faced any administrative or criminal penalties related to the securities market in the past five years[173]. - There were no significant litigation or arbitration matters during the reporting period[188]. - The company has confirmed that all commitments made are independently enforceable, ensuring the validity of remaining commitments if one is deemed invalid[173]. - The company has not engaged in any major civil lawsuits or arbitrations related to economic disputes in the last five years[173].