CORUN(SH:600478)2021-04-14 16:00Financial Performance - The company's available distributable profit for 2020 was CNY 119,433,540.5, with a retained loss from the previous year of CNY -280,855,780.09, resulting in a year-end retained profit of CNY -161,422,239.59[6] - The company will not distribute profits or increase capital reserves for the year 2020, in accordance with the Company Law and the Articles of Association[6] - The company's operating revenue for 2020 reached ¥2,545,775,967, representing a 22.41% increase compared to ¥2,079,700,166 in 2019[25] - The net profit attributable to shareholders was ¥55,469,413, a significant recovery from a loss of ¥357,881,276 in 2019[25] - The net cash flow from operating activities surged to ¥491,109,994, up 1,853.31% from ¥25,142,404 in the previous year[25] - The total assets decreased by 4.09% to ¥6,149,025,376.63 from ¥6,411,333,381.04 in 2019[25] - The company's basic earnings per share improved to ¥0.034 from a loss of ¥0.228 in 2019[25] - The company reported a significant increase in other income, which rose by 467.77% to ¥210,484,477.45 due to government subsidies[27] - The company reported a non-recurring gain of ¥219,403,217.64 in 2020, compared to ¥166,557,596.79 in 2019, indicating a significant increase[35] - The company achieved a revenue of 2.546 billion yuan in 2020, representing a year-on-year growth of 22.41%[59] - The net profit attributable to shareholders reached 55.47 million yuan, marking a turnaround from losses in the previous year[59] Investments and R&D - Research and development expenses increased by 15.54% to ¥77,040,371.80, reflecting a focus on innovation[27] - The total research and development investment reached 88,638,865.93 yuan, representing 3.48% of the operating income[84] - The company secured 716 patents during the reporting period, a 15.7% increase from the previous year, with 421 related to advanced power batteries and materials[54] - The company’s total capitalized R&D investment was 53,396,367.03 yuan, with capitalized R&D accounting for 60.24% of total R&D expenditures[84] Market Position and Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[28] - The company anticipates continued growth in the consumer electronics market, driven by the demand for lithium-ion batteries in various applications[45] - The company is focused on expanding its market presence and enhancing its product offerings in the energy-saving and new energy sectors[38] - The company is actively developing a new generation of hybrid system assemblies, targeting improved performance and reduced costs compared to previous models[65] - The company aims to increase the production capacity of nickel-hydride batteries to 480,000 sets per year to meet the growing demand from Toyota's electrification strategy[127] - The company plans to enhance its lithium battery product development and expand its market share in consumer lithium batteries, focusing on electric two-wheelers and smart home applications[127] Environmental Compliance and Initiatives - The company operates a wastewater discharge system with COD emissions at 23 mg/L, well below the limit of 400 mg/L[167] - The company has implemented pollution control facilities that are regularly maintained and inspected to ensure compliance with environmental standards[174] - The company is committed to maintaining its environmental governance equipment in normal operation throughout the year, ensuring compliance with discharge standards[187] - The company conducted daily monitoring of pollutant emissions and engaged professional testing agencies for comprehensive environmental assessments, with no instances of exceeding pollutant discharge standards reported[185] - The company plans to enhance environmental awareness among all employees and continue to strengthen training and emergency response drills in 2021[187] Corporate Governance and Compliance - The company has received a standard unqualified audit report from Da Xin Certified Public Accountants[5] - There are no non-operating fund occupations by controlling shareholders or related parties reported[8] - The company has not violated decision-making procedures for external guarantees[8] - The company has not faced any issues with a majority of directors being unable to guarantee the authenticity of the annual report[8] - The company has not reported any significant related party transactions during the reporting period[159] - The company maintained good integrity status, with no unfulfilled court judgments or significant overdue debts[153] Shareholder Information - The total number of ordinary shares increased to 1,653,281,386 shares, with a significant issuance of 134,444,823 shares to Shanghai Huapu Automobile Co., Ltd. and 49,149,883 shares to Zhejiang Geely Holding Group Co., Ltd. for asset acquisition[195] - The proportion of limited sale condition shares decreased from 11.10% to 2.97%, while the proportion of unrestricted circulating shares increased from 88.90% to 97.03%[192] - The largest shareholder, Hunan Keli Yuan High Technology Group Co., Ltd., reduced its holdings by 27,178,580 shares, holding 220,819,600 shares, representing 13.36%[200] - The company reported no changes in the number of shares held by the top ten shareholders, with the largest shareholder's stake being 13.36%[200]