QJSL(SH:600283)2021-04-09 16:00Financial Performance - The company achieved a net profit attributable to shareholders of RMB 138,611,912.16 in 2020, representing a 221.11% increase compared to RMB 43,165,993.67 in 2019[5]. - Total operating revenue for 2020 was RMB 1,315,071,908.75, an increase of 11.93% from RMB 1,174,868,291.01 in 2019[20]. - The net cash flow from operating activities was RMB 469,842,808.88, reflecting a 5.68% increase from RMB 444,598,491.29 in the previous year[20]. - The company's total assets at the end of 2020 amounted to RMB 5,755,848,121.57, up 11.30% from RMB 5,171,402,341.71 at the end of 2019[20]. - The basic earnings per share for 2020 was RMB 0.39, a significant increase of 225.00% compared to RMB 0.12 in 2019[21]. - The weighted average return on equity increased to 7.20% in 2020, up by 4.85 percentage points from 2.35% in 2019[21]. - The company reported a net profit of RMB 113,832,410.76 after deducting non-recurring gains and losses, which is a 971.02% increase from RMB 10,628,381.22 in 2019[20]. - The company reported a significant increase in revenue, achieving a total of $X million for the fiscal year, representing a Y% growth compared to the previous year[164]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 1.5 per 10 shares, totaling RMB 52,949,363.7, based on a total share capital of 352,995,758 shares[5]. - For the year 2020, the company plans to distribute cash dividends of RMB 1.50 per 10 shares, totaling RMB 52,949,363.70, which represents 38.20% of the net profit attributable to shareholders[92]. - The company reported a net profit attributable to shareholders of RMB 43,165,993.67 for the year 2019, with basic earnings per share of RMB 0.12[90]. - No cash dividends or stock dividends were distributed for the year 2019, and no capital reserve was converted into share capital[91]. Operational Capacity and Services - The company operates a total water supply design capacity of 2.25 million tons per day, with a focus on integrated water supply and sewage treatment services[29]. - The wastewater treatment design capacity is 450,000 tons per day, with projects managed by various subsidiaries[30]. - The company achieved a daily water treatment capacity of 2.25 million tons, with a supply capacity of 1.8 million tons/day and sewage treatment capacity of 450,000 tons/day[36]. - The overall sewage treatment volume for 2020 was 10.877 million tons, remaining stable compared to the previous year despite challenges from the pandemic[36]. - The company has a total design capacity of 160,000 tons/day for wastewater treatment, with 120,000 tons/day currently completed[125]. Market and Growth Opportunities - The company anticipates growth opportunities in secondary water supply, rural environmental governance, and comprehensive water environment management in the future[30]. - The company plans to enhance its market competitiveness through digital economy and smart water management technologies[31]. - The company is focusing on mergers and acquisitions to enhance industry consolidation and expand its market presence[31]. - The company aims to enhance its market expansion strategies while managing risks associated with market competition and policy changes[87]. - The company plans to sell approximately 400 million tons of water and treat about 115 million tons of wastewater in 2021, aiming for a revenue of around 1.4 billion yuan[86]. Research and Development - Research and development expenses rose by 77.33% to CNY 6.59 million, reflecting increased investment in water treatment technology[39]. - The total R&D investment amounted to ¥6,585,139.69, representing 0.50% of the total revenue[50]. - The company aims to invest in R&D, allocating a significant portion of its budget to innovation[163]. Environmental Compliance and Social Responsibility - The company has achieved compliance with the Zhejiang provincial wastewater discharge standards, ensuring environmental protection[125]. - The average COD concentration for the wastewater treatment plants is 26.71 mg/L, which is below the discharge limit of 50 mg/L[116]. - The company has implemented a precision poverty alleviation plan in accordance with local government initiatives, demonstrating its commitment to social responsibility[113]. - The company is actively participating in rural revitalization initiatives, contributing to community development[113]. Governance and Management - The company has retained the same accounting firm, Tianjian Accounting Firm, for the 2020 financial and internal control audits, with a remuneration of RMB 700,000[96]. - The company has established a performance evaluation mechanism for senior management, which was approved by the board[182]. - The company has a strong governance framework with a dedicated remuneration and assessment committee overseeing compensation matters[168]. - The company has a total of 1,560 employees, with 44 in the parent company and 1,516 in major subsidiaries[171]. Financial Health and Risks - The company reported a decrease in other equity instrument investments, with a change of -3,022,847.70 RMB during the reporting period[28]. - The company’s short-term loans increased by 73.58% to CNY 538,615.72 million due to new bank loans[54]. - The company reported a significant increase in inventory, which rose by 40.07% to CNY 557,815.23 million, primarily due to unfinished pipeline installation projects[54]. - The company has no significant risks identified by the supervisory board during the reporting period[181].