JSZY(SH:600770)2021-04-08 16:00Financial Performance - In 2020, the company achieved a total revenue of ¥377,239,709.24, a decrease of 17.71% compared to ¥458,426,524.99 in 2019[20] - The net profit attributable to shareholders was ¥168,487,165.70, representing a significant increase of 202.10% from ¥55,772,318.45 in the previous year[20] - The net cash flow from operating activities increased by 38.31% to ¥274,402,560.84, compared to ¥198,401,679.85 in 2019[20] - The total assets of the company at the end of 2020 were ¥6,059,686,717.47, a slight decrease of 1.36% from ¥6,143,269,763.09 in 2019[20] - The net assets attributable to shareholders increased by 4.15% to ¥3,707,785,552.53, compared to ¥3,560,192,153.31 at the end of 2019[20] - The company's basic earnings per share increased by 202.10% to CNY 0.1296 in 2020 compared to CNY 0.0429 in 2019[21] - The weighted average return on equity rose by 3.05 percentage points to 4.64% in 2020 from 1.59% in 2019[21] - The company reported a total revenue of CNY 140,720,411.10 in Q2 2020, with a net profit of CNY 172,965,791.94 for the same period[23] Investment and Assets - The company reported a significant increase in fair value gains from overseas investments in health and integrated circuit industries[85] - The fair value of trading financial assets increased by CNY 288,910,206.86, contributing CNY 264,439,029.63 to current profits[28] - The company’s investment in other non-current financial assets rose by CNY 95,190,772.99, with a profit impact of CNY 97,558,604.44[28] - The company’s overseas assets amounted to 171,152.40 million RMB, accounting for 28.24% of total assets, primarily from solar power plants in Europe and the US[57] - The total investment cost of financial assets amounted to ¥2,276,900,112.18, with a year-end book value of ¥2,498,584,848.71, resulting in a profit of ¥363,007,586.87 during the reporting period[115] Business Segments and Operations - The company continues to focus on information technology, new energy, and equity investment as its main business segments[31] - The integrated circuit business, particularly the A2000 and A980 encryption chips, remains a key area of development and sales growth[33] - The company’s solar power plants had a total installed capacity of 98.54 MW by the end of 2020, all of which were connected to the grid[50] - The company added a 10 MW crystalline silicon fish-solar complementary photovoltaic power station in 2020, which was fully connected to the grid in July 2020[50] - The smart card business is primarily conducted through its subsidiary Yineda, focusing on smart card applications and self-service terminal devices[40] Market Trends and Challenges - The global hearing aid market is dominated by five major companies that hold 90% of the market share, indicating a significant barrier to entry for new players[36] - The mobile game industry is experiencing increased market concentration, with most industry profits and market growth captured by leading companies, leading to a challenging environment for small and medium enterprises[48] - The mobile gaming industry in 2020 continued to expand despite the pandemic, with a stable increase in user numbers, although the number of game products has decreased due to regulatory controls[127][128] Research and Development - The company has developed a digital hearing aid chip technology, achieving product standardization and significant advancements in noise reduction algorithms[60] - The company holds 17 invention patents and 41 software copyrights, emphasizing its commitment to independent innovation in CPU and AI algorithms[61] - Nanjing Tianyue focuses on the research and development of ultra-low power mixed-signal hearing aid chips and digital voice processing technology, aiming to provide overall solutions for hearing aid manufacturers[119] Corporate Governance and Compliance - The company has a commitment to ensuring the accuracy and completeness of its financial reports, as stated by its board of directors[8] - The company has maintained its auditor, Lixin Accounting Firm, for 21 years, with an audit fee of RMB 2 million for the current period[157] - The company strictly adheres to legal regulations and governance standards to protect the rights of all shareholders, especially minority shareholders[199] Social Responsibility and Community Engagement - The company has actively engaged in social responsibility by donating several million yuan worth of epidemic prevention materials to various provinces[171] - The company emphasizes the importance of information disclosure and investor relations management, ensuring equal treatment of all investors[171] Future Outlook and Strategy - The company aims to enhance its core competitiveness in various sectors by focusing on independent innovation and optimizing its business structure in 2021[138] - The company plans to deepen its investment in information technology, particularly in chip design and application, to create new profit growth points[136] - The company will focus on three main business segments: integrated circuits, AI, and cryptography, aiming to create a complete product solution centered around the Longxin CPU[141]