GACO(SH:600523)2021-03-17 16:00Financial Performance - The company's operating revenue for 2020 was CNY 2,236,106,610.57, representing a 1.27% increase compared to CNY 2,207,998,805.40 in 2019[22]. - The net profit attributable to shareholders for 2020 was CNY 150,221,465.12, an increase of 11.19% from CNY 135,103,771.98 in 2019[22]. - The net profit after deducting non-recurring gains and losses was CNY 132,937,078.72, which is a 39.00% increase from CNY 95,635,318.11 in 2019[22]. - The net cash flow from operating activities for 2020 was CNY 217,357,435.04, up 26.43% from CNY 171,919,593.98 in 2019[22]. - The total assets at the end of 2020 were CNY 3,257,885,054.37, a 2.89% increase from CNY 3,166,411,051.06 at the end of 2019[23]. - The net assets attributable to shareholders at the end of 2020 were CNY 2,624,867,567.92, reflecting a 3.25% increase from CNY 2,542,151,936.42 at the end of 2019[23]. - Basic earnings per share for 2020 were CNY 0.37, a 12.12% increase from CNY 0.33 in 2019[24]. - The weighted average return on equity for 2020 was 5.81%, an increase of 0.22 percentage points from 5.59% in 2019[24]. - Total profit for the year reached 184 million yuan, representing a year-on-year growth of 17.51%[43]. - Operating cash flow improved by 26.43% to 217 million yuan[43]. - The company reported a net profit of 150,221,465.12 RMB for 2020, with a cash dividend payout ratio of 53.83%[99]. Revenue and Sales Growth - In Q1 2020, the company reported revenue of ¥421,898,935.12, which increased to ¥685,205,868.77 by Q4 2020, reflecting a growth of approximately 62.5% over the year[25]. - The net profit attributable to shareholders was ¥772,198.82 in Q1 2020, reaching ¥48,806,047.09 by Q4 2020, indicating a significant increase in profitability[25]. - The company achieved a 33.04% increase in revenue from aviation products[44]. - New orders increased by 36%, with 251 new projects, including 16% in the new energy sector[45]. - The sales volume of automotive sealing strips reached 5,770 million meters, reflecting a year-on-year increase of 2.34%[81]. Cost Management and Efficiency - Operating costs decreased by 1.14% to ¥1,677,290,359.33 from ¥1,696,636,705.27, leading to improved profit margins[57]. - The total cost of main business decreased by 15.39% compared to the previous year, amounting to 365,319,982.79 CNY[64]. - Direct material costs for the sealing system decreased by 13.26% year-over-year, totaling 248,088,800.31 CNY[64]. - The overall main business cost for the electronic and electrical category increased by 11.71% year-over-year, amounting to 851,344,535.58 CNY[64]. Investment and Financial Management - The company engaged in a loan of CNY 40 million to a related party at an interest rate of 4%, which was fully repaid along with interest by November 2020[7]. - The company reported a significant increase in cash received from investment activities, totaling 308,772,516.27, up 2707.02% year-on-year[71]. - The company provided a total of 4,000 million RMB in entrusted loans at an interest rate of 4%, earning 1.1 million RMB in interest income[114]. - The company has committed to enhancing its financial management through various investment strategies, including trust and loan management[112]. Research and Development - Research and development expenses amounted to 88,619,050.39, representing 3.96% of total revenue[69]. - The company has committed to building a research and development platform and establishing manufacturing bases in industrial clusters[91]. - The company has 447 R&D personnel, making up 9.61% of the total workforce[69]. Corporate Governance and Compliance - The company has established a clear governance structure that complies with relevant laws and regulations, enhancing operational transparency[156]. - The internal control audit report issued by Tianjian Accounting Firm provided a standard unqualified opinion[166]. - The company confirmed that there were no insider trading incidents during the reporting period[161]. - The company has not identified any significant deficiencies in internal control during the reporting period[165]. Environmental and Social Responsibility - The company has established a wastewater treatment facility with a capacity of 240 tons per day, ensuring compliance with environmental standards[124]. - The company has implemented a comprehensive air pollution control system, with daily monitoring to ensure compliance with emission standards[125]. - The company is actively engaged in poverty alleviation efforts, including direct procurement of agricultural products from poverty-stricken villages[116]. - The company has committed to ongoing support for poverty alleviation projects, including purchasing agricultural products from poverty-stricken areas and organizing educational camps[122]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,649, an increase from 17,154 at the end of the previous month[131]. - The largest shareholder, China Aviation Automobile System Holding Co., Ltd., held 149,623,188 shares, representing 37.01% of the total shares[133]. - The total number of shares held by the board members at the end of the reporting period is 31,080 shares, unchanged from the beginning of the period[143]. Employee Management - The total number of employees in the parent company is 1,651, while the total number of employees in major subsidiaries is 2,758, resulting in a combined total of 4,409 employees[151]. - The company has implemented a performance-based salary system that links employee compensation closely with corporate performance[152]. - The company has a training plan aimed at improving the skills and qualifications of its employees across various levels[153].