SNAT(SH:600841)2021-03-15 16:00Financial Performance - In 2020, the company achieved a consolidated net profit attributable to shareholders of RMB 203,320,546.19, representing a 73.98% increase compared to RMB 116,865,057.43 in 2019[6]. - The company's operating revenue for 2020 was RMB 6,131,471,489.36, a 52.02% increase from RMB 4,033,270,192.12 in 2019[23]. - The basic earnings per share for 2020 was RMB 0.235, up 73.98% from RMB 0.135 in 2019[23]. - The company reported a decrease in net profit after deducting non-recurring gains and losses to RMB 151,563,211.67, a 71.03% increase from RMB 88,620,084.04 in 2019[23]. - The weighted average return on net assets increased to 5.22% in 2020, up from 3.10% in 2019, an increase of 2.12 percentage points[23]. - The company reported a significant increase in inventory, with a 77.36% rise in stock to ¥777,318,021.56[62]. - The financial expenses showed a notable improvement, with a net gain of ¥26,976,570.59 compared to a loss of ¥61,822,731.92 in the previous year[48]. - The company achieved an asset disposal gain of ¥50,301,311.48, primarily from the transfer of land and property by a subsidiary[48]. Cash Flow and Assets - The net cash flow from operating activities decreased by 74.61% to RMB 157,147,523.61 in 2020, down from RMB 618,948,439.04 in 2019[23]. - The total assets of the company increased by 23.20% to RMB 9,180,511,001.03 at the end of 2020, compared to RMB 7,451,646,229.61 at the end of 2019[23]. - The total current assets increased to RMB 7,163,321,763.89 as of December 31, 2020, compared to RMB 5,475,054,748.23 in 2019, representing a growth of approximately 30.9%[198]. - The cash and cash equivalents stood at RMB 3,035,405,486.95 as of December 31, 2020, compared to RMB 2,977,932,796.19 in 2019, reflecting a growth of approximately 1.9%[198]. Market and Sales Performance - In 2020, the company achieved diesel engine sales of 162,177 units, a year-on-year increase of 69.33%[44]. - The domestic commercial vehicle and engineering machinery industries' growth positively impacted the company's diesel engine sales[39]. - The company’s marketing efforts led to a significant increase in sales across various sectors, including an 85% increase in the vehicle market[44]. - The company plans to achieve sales of 180,000 diesel engines in 2021, generating revenue of 7.168 billion RMB[77]. Research and Development - The company launched 20 new product development projects in 2020, with 8 new models meeting the National VI emission standards successfully launched[44]. - The company has established a strong R&D team and holds multiple patents, including 12 new patents obtained in 2020[44]. - Research and development expenses totaled ¥241,408,281.50, accounting for 3.94% of operating revenue[61]. Strategic Plans and Investments - The company plans to acquire 50% equity in SAIC Iveco Commercial Vehicle Investment Co., Ltd. and 56.96% equity in SAIC Iveco Hongyan Commercial Vehicle Co., Ltd. as part of a major asset restructuring project[31]. - The company has invested CNY 384.58 million across 13 projects related to the automotive industry, new materials, and new energy[67]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[48]. Environmental and Social Responsibility - The company has committed to enhancing its environmental protection measures and compliance with relevant laws and regulations[131]. - The company has reported a total discharge of 6.306 tons of COD, which is within the permitted limit of 6.348 tons, and 0.451 tons of ammonia nitrogen, below the permitted limit of 0.55 tons[124]. - The company has invested a total of 200,000 yuan in poverty alleviation efforts in 2020, continuing from the previous year's investment of 200,000 yuan, with 150,000 yuan allocated for ecological protection and 50,000 yuan for health resources in impoverished areas[119]. Corporate Governance - The company has appointed Ernst & Young Hua Ming as its auditor, with a fee of 1 million RMB for annual audit services and 283,000 RMB for internal control audit services[95]. - The company’s governance structure complies with the requirements of the Company Law and regulations from the China Securities Regulatory Commission[173]. - The internal control self-assessment report indicated no significant defects in the design or execution of internal controls as of December 31, 2020[180]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 42,035, down from 43,486 at the end of the previous month[137]. - The largest shareholder, Shanghai Automotive Group Co., Ltd., held 416,452,530 shares, representing 48.05% of total shares[140]. - The company reported no changes in the total number of ordinary shares and capital structure during the reporting period[136]. Employee and Management Structure - The total number of employees in the parent company and major subsidiaries is 1,890, with 903 in production, 181 in sales, and 636 in technical roles[167]. - The company emphasizes a dynamic compensation policy linked to business performance, aiming to enhance employee satisfaction and cohesion[168]. - The company has a clear structure for the roles of directors and senior management, with specific positions held within the Shanghai Automotive Group[160].