Sino-Microelectronics(SH:600360)2021-04-28 16:00Financial Performance - In 2020, the company's operating revenue was approximately CNY 1.72 billion, representing a 3.75% increase from 2019[24]. - The net profit attributable to shareholders decreased by 47.41% to approximately CNY 34.18 million in 2020[24]. - The net cash flow from operating activities increased by 81.06% to approximately CNY 291.37 million in 2020[24]. - The company reported a basic earnings per share of CNY 0.04, down 42.86% from CNY 0.07 in 2019[24]. - The total assets increased by 6.23% to approximately CNY 6.11 billion at the end of 2020[24]. - The gross profit margin for the industrial sector was 19.71%, a decrease of 0.89 percentage points compared to the previous year[46]. - Gross margin for the overall business decreased by 1.31 percentage points to 19.06%[47]. - The company’s total cost of sales was approximately 1.29 billion, with raw materials constituting 46.77% of total costs[54]. Dividend Policy - The company plans to distribute a cash dividend of 0.15 CNY per 10 shares, totaling 14,404,429.56 CNY, with 19,777,537.43 CNY carried forward for future distribution[6]. - The company proposed a cash dividend of 0.25 RMB per 10 shares for the 2019 fiscal year, totaling 24,099,282.60 RMB distributed to shareholders[88]. - In 2020, the company distributed a cash dividend of 0.15 RMB per 10 shares, amounting to 14,404,429.56 RMB, which represents 42.14% of the net profit attributable to ordinary shareholders[89]. - The company has a policy to distribute at least 20% of the distributable profit as cash dividends annually, provided certain conditions are met[87]. - The company’s cash dividend distribution plan requires approval from shareholders holding more than 50% of the voting rights[87]. - The company’s cash dividend policy allows for stock dividends if the earnings per share exceed 0.35 RMB during the reporting period[87]. - The company’s cash dividend distribution is contingent upon the absence of significant investment plans or cash expenditures exceeding 10% of total audited assets[87]. - The company has retained earnings for future use, as it did not propose a cash dividend distribution in the previous fiscal year despite achieving profitability[90]. Research and Development - R&D expenses increased by 53.85% to 43.03 million yuan, reflecting a significant investment in technology innovation[45]. - The company is focusing on technological innovation and has developed core design technologies for high-end power semiconductor devices[32]. - The company has established a comprehensive product system in power semiconductor devices, including high-end diodes and IGBTs, and is transitioning to a solution provider[31]. - The company is actively expanding into emerging fields such as new energy vehicles and industrial applications, achieving positive results[31]. - The company is developing new IGBT products for white goods, industrial frequency conversion, UPS, and new energy sectors, aiming to enrich its product offerings[81]. Operational Efficiency - The company has established a mature planning system to ensure timely order delivery and customer satisfaction[38]. - The company is actively optimizing its management model to improve production line efficiency and market competitiveness[41]. - The company aims to enhance operational quality through management innovation and continuous process improvements[35]. - The company has implemented a self-monitoring plan for environmental pollutants in accordance with legal requirements[129]. Corporate Governance - The audit report issued by Zhonghua Certified Public Accountants was a standard unqualified opinion[5]. - The company’s financial report is confirmed to be true, accurate, and complete by its management[4]. - The company has maintained independence from its controlling shareholder, with no related party transactions reported[184]. - The board of directors has established four specialized committees to enhance decision-making processes, including a strategy committee and an audit committee[186]. - The company has implemented a comprehensive internal control framework, including management systems and risk databases, to enhance operational standards[188]. Environmental Responsibility - Environmental protection measures are in place, with all water and air pollutants treated to meet discharge standards[124]. - The company has established an emergency response plan for environmental incidents, which is regularly trained and rehearsed[128]. - The company has conducted environmental impact assessments for construction projects and obtained necessary permits[127]. - The company’s pollution control facilities are operating normally, ensuring compliance with environmental regulations[124]. Shareholder Information - The total number of common stock shareholders increased from 121,184 to 126,680 during the reporting period[142]. - The largest shareholder, Shanghai Pengsheng Technology Industry Co., Ltd., holds 214,326,656 shares, representing 22.32% of the total share capital[143]. - The second largest shareholder, CITIC Securities Co., Ltd., increased its holdings by 11,388,757 shares, holding a total of 11,388,757 shares, which is 1.19% of the total[143]. - The top ten unrestricted shareholders collectively hold significant stakes, with the largest being 214,326,656 shares[149]. Employee Information - The company employed a total of 2,051 staff, including 1,205 production personnel and 616 technical personnel[177][178]. - The company has established a performance-based remuneration system for senior management, linking monthly salaries to annual economic indicators[179]. - The company has implemented a training program focusing on professional skills and capacity enhancement for employees, including financial management and quality management[180]. - The educational background of employees includes 21 with master's degrees or above, 486 with bachelor's degrees, and 524 with associate degrees[178]. Risk Management - The company reported no significant risks affecting its operations during the reporting period[8]. - The semiconductor industry faces risks from macroeconomic fluctuations and intensified competition, which could significantly impact the company's performance if industry progress does not meet expectations[82]. - The company has not reported any significant deficiencies in internal controls during the reporting period[195].