TDG(SH:600330)2021-04-21 16:00Financial Performance - In 2020, the company achieved a total revenue of ¥3,155,775,787.21, representing a 13.52% increase compared to ¥2,779,942,961.87 in 2019[22] - The net profit attributable to shareholders reached ¥381,201,445.47, a significant increase of 134.70% from ¥162,417,496.13 in the previous year[22] - The net profit after deducting non-recurring gains and losses was ¥149,780,783.91, up 158.91% from ¥57,849,878.70 in 2019[22] - Basic earnings per share increased by 135.15% to CNY 0.388 in 2020 compared to CNY 0.165 in 2019[25] - The weighted average return on equity rose by 4.57 percentage points to 8.70% in 2020 from 4.13% in 2019[25] - The company reported a significant increase in non-current asset disposal gains of CNY 208,135,670.90 in 2020 compared to CNY 66,743,945.49 in 2019[28] - Revenue from magnetic materials manufacturing increased by 23.88% to 69,957 million RMB, with a gross margin increase of 2.83%[50] - The gross profit margin decreased by 1.51 percentage points to 23.29%[51] - The company reported a total operating revenue of ¥3,080,475,294.12, an increase of 13.89% compared to the previous year[51] Assets and Liabilities - The company's total assets as of the end of 2020 amounted to ¥7,503,722,442.08, an increase of 11.69% from ¥6,718,507,718.34 at the end of 2019[22] - The net assets attributable to shareholders increased to ¥4,716,139,084.41, reflecting a growth of 15.97% compared to ¥4,066,829,256.54 in 2019[22] - The total amount of receivables financing increased from CNY 100,499,965.97 at the beginning of the year to CNY 302,517,176.29 by year-end, reflecting a change of CNY 202,017,210.32[31] - Accounts receivable increased by 20.56% compared to the previous period, attributed to sales growth and changes in credit terms[67] - Long-term receivables decreased by 55.31% compared to the previous period, mainly due to the recovery of project payments from subsidiaries[70] Cash Flow - The company reported a net cash flow from operating activities of -¥3,232,428.66, an improvement of 96.43% from -¥90,664,681.69 in 2019[22] - Net cash flow from operating activities increased by 96.43% year-on-year, primarily due to an increase in cash received from other operating activities[65] - Net cash flow from investing activities increased by 86.02% year-on-year, mainly due to an increase in cash recovered from investments[65] - Net cash flow from financing activities decreased by 176.50% year-on-year, primarily due to increased cash payments for debt repayment and other financing activities[65] - Cash and cash equivalents decreased by 39.65% compared to the beginning of the period, mainly due to a reduction in bank deposits and other cash[70] Market and Product Development - The company plans to continue focusing on market expansion and new product development as part of its future strategy[8] - The company has achieved a market-leading position in high-margin products such as thin sheets for wireless charging[35] - The company is actively focusing internal resources to enhance its market share in single crystal growth furnaces, with significant sales growth noted in the semiconductor sector[38] - The company is focusing on expanding its market share in the photovoltaic industry by increasing sales of single crystal growth furnaces and supporting equipment[99] - The company aims to deepen its focus on magnetic materials for wireless charging, new energy vehicles, and renewable energy generation, while developing new applications in sensors and thin film materials[99] Research and Development - Research and development expenses rose by 6.26% to ¥173,409,923.08, mainly due to increased personnel costs and material consumption[60] - The company holds 482 core intellectual properties related to electronic materials and equipment, including 98 invention patents and 339 utility model patents[46] - The company is committed to enhancing its research and development efforts in semiconductor equipment, aiming to build a product matrix through independent research, production, and investment in semiconductor companies[99] Shareholder and Dividend Information - The company proposed a cash dividend of ¥0.50 per 10 shares, totaling ¥49,139,860.55 to be distributed to shareholders[7] - The cash dividend for 2020 was CNY 0.50 per share, totaling CNY 49,139,860.55, which represents 12.89% of the net profit attributable to ordinary shareholders[103] - The company has committed to maintaining a stable profit distribution policy, ensuring continuity in its dividend payouts[108] Legal and Compliance Issues - The company has ongoing litigation involving claims for 4,287.41 million RMB against Hefei Rainbow Blu-ray Technology Co., Ltd. due to unpaid payments[115] - The company has also initiated litigation against Fujian Hanjing Optoelectronics Technology Co., Ltd. for 4,191,500 RMB due to similar payment issues[115] - The company has reported a significant impact on its financial results due to ongoing litigation and settlements[115] - The company has not faced any significant accounting errors or non-standard audit opinions during the reporting period[112] Environmental and Social Responsibility - The company has a wastewater treatment capacity of 500 tons per day for domestic sewage and 1,500 tons per day for magnetic materials wastewater, with a total reuse rate exceeding 75%[147] - The company obtained its first national pollutant discharge permit since the reform on August 28, 2020, valid until August 27, 2023[148] - The company has implemented an emergency response plan for environmental incidents, with no incidents reported during the reporting period[149] Corporate Governance - The company has established a new board of directors consisting of 7 members, including 3 independent directors, following the completion of the board's term[196] - The company has strengthened internal control systems and conducted evaluations and audits of its internal control effectiveness during the reporting period[196] - The company has seen a turnover in its independent directors, reflecting potential shifts in governance strategy[183] Employee Information - The total number of employees in the parent company is 2,105, while the total number of employees in major subsidiaries is 2,934, resulting in a combined total of 5,039 employees[189] - The company has implemented a diversified salary system that includes basic salary, position salary, performance salary, benefits, year-end bonuses, operational performance rewards, and equity incentives[190] - The company conducted training for 105 employees who passed internal and external professional title evaluations, including 13 senior engineers, 49 engineers, and 43 assistant engineers[193]