Chunlan(SH:600854)2021-04-15 16:00Financial Performance - The company achieved a net profit attributable to shareholders of CNY 39,838,468.47 in 2020, representing a 47.77% increase compared to CNY 26,959,532.39 in 2019[4]. - Total operating revenue for 2020 was CNY 255,424,660.86, which is an increase of 28.80% from CNY 198,317,286.82 in 2019[20]. - The basic earnings per share increased to CNY 0.0767 in 2020, up 47.78% from CNY 0.0519 in 2019[21]. - The company reported a net profit attributable to shareholders of 39.84 million yuan, a year-on-year increase of 47.77%[37]. - The company's net profit for 2020 was CNY 31,334,515.21, compared to a net loss of CNY 1,283,181.18 in 2019, indicating a significant turnaround[157]. - The net profit for 2020 reached CNY 42,034,787.71, compared to CNY 25,432,175.94 in 2019, indicating a year-over-year increase of about 65.0%[159]. - The total comprehensive income for 2020 was CNY 71,679,934.83, compared to CNY 52,138,502.08 in 2019, which is an increase of approximately 37.5%[159]. Revenue and Sales - The company achieved operating revenue of 255.42 million yuan, representing a year-on-year growth of 28.80%[37]. - Air conditioning sales contributed 131.15 million yuan, an increase of 59.37% compared to the previous year[38]. - Real estate sales revenue reached 64.59 million yuan, up 11.20% year-on-year due to rising property prices[38]. - The total sales volume of air conditioners was 140,000 units, reflecting a significant year-on-year growth of 133.33%[36]. Assets and Liabilities - The company's total assets as of the end of 2020 were CNY 2,213,551,515.63, reflecting a 5.44% increase from CNY 2,099,274,826.47 at the end of 2019[20]. - The total assets of the company amounted to CNY 2,902,405,390.73 in 2020, slightly down from CNY 2,907,087,700.19 in 2019[157]. - The total liabilities increased to CNY 101,121,620.63 in 2020 from CNY 87,789,265.72 in 2019, an increase of 15.1%[156]. - The total liabilities at the end of the year were CNY 1,148,646,716, which is an increase from CNY 1,136,048,115 in the previous year[173]. Cash Flow - The net cash flow from operating activities was CNY 33,216,378.32, a decrease of 43.71% compared to CNY 59,014,067.13 in 2019[20]. - The cash flow from operating activities in 2020 was CNY 178,183,943.40, down from CNY 187,778,894.82 in 2019, reflecting a decrease of approximately 5.0%[162]. - The net cash flow from investment activities increased by 11.44% to ¥68,938,485.59 from ¥61,859,960.41, primarily due to increased dividend receipts[53]. Research and Development - Research and development expenses rose by 40.10% to ¥1,037,119.80 from ¥740,293.12, indicating an increase in R&D investment[50]. - The company has a total of 8 R&D personnel, accounting for 4.17% of the total workforce[51]. Inventory Management - Inventory levels decreased by 51.85%, indicating effective inventory management strategies[36]. - The company reported a significant inventory balance of ¥415,680,920.71, with a provision for inventory impairment of ¥48,008,579.29, resulting in a net inventory value of ¥367,672,341.42[137]. Corporate Governance - The company has maintained compliance with the corporate governance requirements set by the China Securities Regulatory Commission, with no major discrepancies noted[124]. - The company has a total of 27,963 common stock shareholders as of the end of the reporting period, an increase from 27,046 in the previous month[94]. - The total remuneration for all directors, supervisors, and senior management in 2020 amounted to 1.3029 million yuan after tax deductions[113]. Market Outlook - The company expects the real estate market in Taizhou to maintain a positive trend in 2021, benefiting from inflation expectations and rising land prices[64]. - The company aims for a net profit growth of over 50% for the year 2021, contingent on market conditions[67]. Environmental Compliance - The company has established a comprehensive environmental monitoring scheme to ensure compliance with environmental regulations[90]. - The company has completed the environmental impact registration for the new refrigeration compressor production line project[88]. Risk Management - The company did not engage in any significant risk events during the reporting period[7]. - The company faces risks from high industry concentration and intense competition, which may impact its air conditioning business[68].