ITG(SH:600755)2021-06-04 16:00Financial Performance - The company's operating revenue for 2020 was RMB 351,088,945,884.64, representing a 61.02% increase compared to RMB 218,046,936,338.70 in 2019[24] - The net profit attributable to shareholders of the listed company was RMB 2,612,026,632.43, an increase of 13.11% from RMB 2,309,300,382.69 in the previous year[24] - The net profit attributable to the parent company was RMB 2,250,877,189.37, reflecting a 37.41% increase from RMB 1,638,102,013.11 in 2019[24] - The basic earnings per share for 2020 is CNY 1.12, representing a 24.44% increase compared to CNY 0.90 in 2019[28] - The diluted earnings per share for 2020 is CNY 1.04, up 23.81% from CNY 0.84 in 2019[28] - The company's total operating revenue increased by 61.02% to CNY 35.109 billion compared to the previous year[82] - The company's investment income rose by 91.32% to CNY 666.233 million, driven by long-term equity investments[82] - The company's operating costs increased by 62.90% to CNY 344.356 billion, reflecting the growth in operating revenue[82] Dividend Policy - The profit distribution plan proposes a cash dividend of RMB 4.60 per 10 shares, totaling RMB 895,277,915.94 (including tax) based on a total share capital of 1,946,256,339 shares[6] - The cash dividend payout ratio for the year was 34.28%[6] - The company plans to maintain the per-share distribution ratio unchanged despite potential changes in total share capital due to various corporate actions[6] - The company has established a cash dividend policy to distribute at least 30% of the net profit attributable to shareholders annually from 2021 to 2023, barring special circumstances[170] - The company plans to distribute a cash dividend of RMB 4.60 per 10 shares for the year 2020, totaling RMB 895,277,915.94, which represents a cash dividend ratio of 34.28% of the net profit attributable to shareholders[174] Assets and Liabilities - The total assets at the end of 2020 amount to CNY 113,415,874,138.65, reflecting a 26.76% increase from CNY 89,472,801,921.16 at the end of 2019[27] - The net assets attributable to shareholders at the end of 2020 are CNY 26,190,610,270.53, which is a 5.72% increase from CNY 24,773,464,268.55 at the end of 2019[27] - The company’s cash and cash equivalents increased by 85.60% to 12.44 billion RMB, primarily due to pre-sale funds from real estate operations[105] - The company has a total of ¥22,287,640,265.87 in restricted assets, primarily due to various guarantees and collateral[114] - Long-term borrowings increased by 104.52% to ¥10,477,998,136.84, driven by the expansion of business operations[111] Operational Highlights - The company is a leading integrated service provider in the domestic bulk commodity market, ranking 2nd in the Fortune China 500 trade sub-list, with annual revenues exceeding ¥100 billion in multiple core categories[43] - The supply chain management business generated revenue of 330.403 billion yuan, growing by 62.38% year-on-year[66] - The company’s import and export total reached 9.534 billion USD, a year-on-year increase of 25.16%, with trade along the "Belt and Road" exceeding 60 billion yuan, growing by over 50%[66] - The company has approximately 1,500 cooperative management warehouses nationwide and has established several regional distribution centers[53] - The company launched 69 technology empowerment projects during the reporting period, enhancing digital capabilities in supply chain services[72] Strategic Initiatives - The company is actively expanding into health technology, focusing on medical data, CRO, and third-party testing, aligning with national health strategies to enhance public health[51] - The company plans to gradually exit the real estate sector, focusing resources on core businesses and strategic emerging industries[154] - The strategic goal for the next five years includes a transformation driven by the "2+X" strategy, emphasizing supply chain management and financial services[152] - The company is committed to developing the health technology sector as a new profit growth driver, combining investment and operational capabilities[160] - The company will focus on strategic investments in emerging industries, particularly in health technology, to ensure sustainable growth[153] Risk Management - The company has described existing risks and corresponding countermeasures in the report[10] - The company anticipates facing risks in supply chain management due to market competition and international trade complexities, but has a robust risk control system in place[163] Corporate Governance - The audit report issued by the accounting firm was a standard unqualified opinion[5] - The company has no non-operating fund occupation by controlling shareholders or related parties[8] - The company has no violations of decision-making procedures for providing guarantees[8] - The company has maintained good integrity status, with no significant debts or court judgments unfulfilled during the reporting period[195] - The company has no significant litigation or arbitration matters during the reporting period, indicating a stable legal standing[195]