SIFANG(SH:601126)2021-03-18 16:00Financial Performance - The net profit for 2020 was CNY 233,003,035.22, with a cumulative distributable profit of CNY 1,378,188,370.06[7] - The company plans to distribute a cash dividend of CNY 9.80 per 10 shares, totaling CNY 796,908,560[7] - The company's operating revenue for 2020 was approximately ¥3.86 billion, an increase of 4.94% compared to ¥3.68 billion in 2019[26] - Net profit attributable to shareholders for 2020 was approximately ¥344 million, representing an 83.07% increase from ¥188 million in 2019[26] - The net cash flow from operating activities for 2020 was approximately ¥985 million, up 14.49% from ¥861 million in 2019[26] - Basic earnings per share for 2020 was ¥0.43, a 79.17% increase from ¥0.24 in 2019[27] - The weighted average return on equity for 2020 was 8.57%, an increase of 3.79 percentage points from 4.78% in 2019[27] - Total assets at the end of 2020 were approximately ¥6.86 billion, a 17.58% increase from ¥5.83 billion at the end of 2019[26] Audit and Compliance - The company has received a standard unqualified audit report from Zhongzheng Tiantong Accounting Firm[6] - The company maintains a commitment to the accuracy and completeness of the financial report[5] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[9] - The company has not faced any violations in decision-making procedures regarding external guarantees[9] - The company has not faced any risks of suspension or termination of listing during the reporting period[122] Business Operations and Strategy - The company is focused on smart power generation, smart grid, and smart distribution, providing solutions for high-voltage projects and participating in major national projects[33] - The company is actively expanding into new business models such as engineering contracting and operation maintenance services[37] - The company is focusing on emerging markets such as high-capacity energy storage and new energy hydrogen production, securing multiple project bids[54] - The company aims to enhance its product innovation capabilities and integrate new technologies such as IoT, 5G, and AI into the energy sector, focusing on smart grid and renewable energy development[96] - The strategic plan for 2021 emphasizes improving organizational efficiency and maintaining a competitive edge in the smart grid sector while expanding into international markets[97] Research and Development - The company maintained a strong focus on technological innovation, holding over 700 authorized patents and 500 software copyrights[42] - Total research and development expenses amounted to 440,428,871.40 CNY, with 418,875,621.20 CNY recognized in the current period's profit and loss, representing 11.40% of total operating revenue[73][75] - The company completed the development and testing of a series of domestically controllable products, with three achieving international leading levels[54] Legal Matters - The company is involved in a civil lawsuit regarding performance compensation, with a claim amount of RMB 24,570,000.00[124] - The company is involved in multiple civil litigation cases related to performance compensation and has reached settlements in some instances[126][129][132] - The company has successfully appealed against the initial judgments in the disputes, leading to favorable outcomes in the higher courts[135][138] Shareholder Relations - The company has established a robust communication channel with shareholders, particularly small and medium shareholders, to gather feedback on dividend policies[108] - The company has revised its profit distribution policy to strengthen shareholder returns and protect shareholder rights[107] - The company distributed a cash dividend of ¥1.78 per 10 shares for the 2019 fiscal year, amounting to ¥139,094,985[110] Employee and Management - The total remuneration paid to directors, supervisors, and senior management during the reporting period amounted to 14.3582 million yuan[190] - The company has a total of 3,144 employees, with 573 in the parent company and 2,571 in major subsidiaries[195] - The company has appointed Yang Jun as Vice President due to operational needs[193] Market and Revenue Growth - In 2020, the company reported a revenue of 1.5 billion, representing a year-over-year growth of 12%[181] - User data indicates an increase in active users by 25% compared to the previous year, reaching 2 million active users[181] - The company has provided a revenue guidance for 2021, projecting a growth rate of 15% to 20%[181] Financial Management - The company has maintained good credit and integrity during the reporting period, with no significant issues reported for the controlling shareholders or actual controllers[148] - The company has not engaged in any significant asset or equity acquisitions or sales during the reporting period[153] - The company repurchased a total of 31,739,500 shares, accounting for approximately 3.90% of the total share capital[165]