FARATRONIC(SH:600563)2021-03-26 16:00Financial Performance - The company achieved a net profit attributable to shareholders of RMB 555,558,927.85 in 2020, representing a 21.85% increase compared to RMB 455,945,946.88 in 2019[3]. - Total operating revenue for 2020 was RMB 1,890,574,260.67, reflecting a growth of 12.51% from RMB 1,680,321,948.29 in 2019[12]. - Basic earnings per share for 2020 were RMB 2.47, an increase of 21.67% from RMB 2.03 in 2019[12]. - The company reported a gross profit of RMB 598,703,516.68, with a gross margin of approximately 31.6%[98]. - The total comprehensive income for the year was RMB 564,098,817.94, compared to RMB 466,983,610.01 in 2019, representing a growth of 20.8%[99]. - The company achieved an operating profit of RMB 655,053,575.31, up from RMB 541,145,936.44 in the previous year, marking a growth of 21.0%[98]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 41.91% to RMB 354,786,591.25, down from RMB 610,701,830.06 in the previous year[12]. - The ending balance of cash and cash equivalents increased to RMB 752,756,443.14 from RMB 626,905,338.83 in the previous year, representing a growth of about 20%[102]. - Total cash inflow from operating activities was CNY 1,780,800,138.57, down from CNY 1,818,025,838.67 in 2019, reflecting a decline of approximately 2%[101]. - The net cash flow from investing activities was CNY 77,776,073.20, down 56% from CNY 178,410,542.17 in 2019[102]. - The company paid CNY 300,375,585.42 in dividends and interest, a slight decrease from CNY 303,761,155.56 in 2019[102]. Assets and Liabilities - The company's total assets increased by 12.95% to RMB 3,650,106,683.75 at the end of 2020, compared to RMB 3,231,718,802.41 at the end of 2019[12]. - Current liabilities rose to RMB 652,532,577.29, compared to RMB 504,826,054.33 in the previous year, indicating a 29.2% increase[94]. - Total liabilities reached RMB 708,963,464.07, an increase from RMB 554,674,400.67, reflecting a growth of 27.8%[94]. - Shareholders' equity totaled RMB 2,941,143,219.68, up from RMB 2,677,044,401.74, marking a growth of 9.8%[95]. Research and Development - Research and development expenses increased by 9.14% to RMB 75,274,310.61, compared to RMB 68,972,877.20 in the same period last year[23]. - The total R&D investment accounted for 3.98% of operating revenue, with a total of RMB 7,527.43 in capitalized R&D expenses[30]. - The company has increased its R&D efforts for new energy film capacitors, enhancing overall product technology levels and production speed[20]. Dividend Policy - The company plans to distribute a cash dividend of RMB 13 per 10 shares, totaling RMB 292,500,000.00, based on a share capital of 22,500,000 shares[3]. - In 2020, the company distributed cash dividends totaling RMB 292.5 million, representing 52.65% of the net profit attributable to ordinary shareholders[39]. - The cash dividend policy was revised to ensure active profit distribution, with a total cash dividend of RMB 292,500,000 distributed based on the 2019 fiscal year[38]. Market Position and Strategy - The company is a leading player in the film capacitor industry, ranking first in China and among the top three globally[19]. - The company plans to focus on high-end products and customized production in response to market trends[19]. - The photovoltaic and wind power markets are experiencing significant growth due to declining generation costs and favorable government policies for new energy vehicles[33]. Shareholder Information - The total number of common stock shareholders at the end of the reporting period is 11,412, a decrease from 12,531 at the end of the previous month[56]. - The largest shareholder, Xiamen Fala Development Co., Ltd., holds 84,000,000 shares, representing 37.33% of total shares[57]. - The company has not experienced any changes in its common stock capital structure during the reporting period[55]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder rights[75]. - The company has not faced any penalties from securities regulatory agencies in the past three years[71]. - The audit committee supervised the establishment and execution of internal control systems, ensuring compliance with financial reporting standards[79]. Environmental and Social Responsibility - The company has implemented environmental protection measures, including the installation of dust collectors and soundproofing equipment, to comply with regulatory standards[54]. - The company has a strong commitment to social responsibility, focusing on green production and energy conservation initiatives[53]. Investment Strategy - The company has diversified its investment portfolio across multiple financial products, enhancing its risk management strategy[46][47][48]. - The company plans to continue its investment strategy in fixed-income products, focusing on stable returns[48]. - The company is exploring new investment opportunities in the market to expand its financial product offerings[48].