HTDC(SH:601188)2021-03-26 16:00Financial Performance - In 2020, the company achieved a net profit attributable to shareholders of CNY 199,741,032.48, a decrease of 46.05% compared to 2019[24]. - The company's operating revenue for 2020 was CNY 559,553,165.15, reflecting a decline of 46.21% year-on-year[24]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, was CNY 174.69 million, a decrease of 51.07% compared to the previous year[28]. - The net cash flow from operating activities was CNY 302.11 million, down 47.04% year-on-year[28]. - The basic earnings per share (EPS) was CNY 0.1518, reflecting a decline of 46.05% from the previous year[28]. - The weighted average return on equity (ROE) was 4.43%, down 5.31 percentage points compared to the previous year[28]. - Total assets at the end of 2020 were CNY 5.17 billion, a decrease of 1.60% from the end of 2019[28]. - The net assets attributable to shareholders were CNY 4.50 billion, a decrease of 0.49% compared to the end of 2019[28]. - The company achieved a total toll revenue of 281 million yuan for the year 2020, successfully completing its annual toll plan despite the impact of the pandemic[50]. - During the pandemic, the company waived tolls for 79 days, which significantly affected its operating income and net profit[49]. Dividend Distribution - The proposed dividend distribution is CNY 0.46 per 10 shares, totaling CNY 60,530,414.27, with CNY 102,593,375.40 retained for future distribution[6]. - The total number of shares for dividend calculation is 1,315,878,571[6]. - The company distributed a cash dividend of 1.60 RMB per 10 shares, totaling 210,540,571.36 RMB for the year 2019[88]. - In 2020, the company reported a cash dividend of 0.46 RMB per 10 shares, amounting to 60,530,414.27 RMB, which represents 30.30% of the net profit attributable to ordinary shareholders[89]. - The net profit attributable to ordinary shareholders for 2019 was 370,243,589.91 RMB, with a dividend payout ratio of 56.86%[89]. - The company has not proposed a cash profit distribution plan for the reporting period despite having positive distributable profits[90]. Audit and Compliance - The company’s financial report has been audited by Yongtuo Accounting Firm, which issued a standard unqualified opinion[5]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[8]. - The company has not violated decision-making procedures for external guarantees[8]. - The company has not disclosed any significant accounting policy changes or errors that would impact its financial reporting[99]. - The internal control audit report issued by Yongtuo Accounting Firm provided a standard unqualified opinion[185]. - The audit report confirmed that the financial statements fairly reflect the financial position and operating results of Longjiang Transportation as of December 31, 2020[193]. Risk Factors and Future Outlook - The company has detailed risk factors related to future development in the report[8]. - The company faces risks from macroeconomic fluctuations, which directly impact highway toll revenue, especially due to the COVID-19 pandemic[84]. - The company will continue to monitor industry policy changes that could affect toll revenue, particularly in light of the toll exemption policy during the pandemic[84]. - The company is exploring new profit growth points to mitigate risks associated with the expiration of highway operating rights in 2029[84]. - The company aims to achieve an operating income of 569 million yuan and a net profit of 183 million yuan in 2021, with an earnings per share of 0.13 yuan[83]. Corporate Governance - The company’s board of directors expanded from 9 to 11 members, aiming to enhance governance and strategic planning[51]. - The company has not reported any changes in its ordinary share capital structure during the reporting period[125]. - The company has not reported any changes in its actual controller during the reporting period, maintaining consistent leadership[137]. - The company strictly adhered to the regulations of the "Corporate Governance Guidelines" and maintained independence from its controlling shareholder in business, personnel, assets, and finance[175]. - The company engaged with investors through various platforms to enhance understanding and confidence in the company[175]. Social Responsibility - The company implemented the "Fuyuan City Longjiang Transportation Love Education and Medical Assistance Plan," assisting 51 families in need with a total of 350,000 yuan, including 335,000 yuan for medical aid and 15,000 yuan for educational support[118]. - A total of 95 impoverished individuals were lifted out of poverty through the company's initiatives, with 1.5 million yuan allocated for educational assistance to 3 students[119]. - The company mobilized employee donations to support impoverished groups in Fuyuan City, reflecting its commitment to social responsibility[118]. - The company has actively engaged in social responsibility, with its 2020 Social Responsibility Report disclosed on March 27, 2021[123]. Operational Performance - The company’s subsidiary, Longyun Modern, developed the first cloud service platform in the taxi industry, enhancing operational efficiency and service levels[51]. - The net profit of the company’s subsidiary, Longjiang Bank, reached 755.72 million yuan in 2020, contributing positively to the company’s overall financial performance[51]. - The company’s diversified projects have gradually increased their profit contribution, supporting the main business operations[45]. - The company is focusing on integrating new technologies such as big data and AI into its operations to drive innovation and improve competitiveness in the transportation sector[79]. Shareholder Information - The total number of ordinary shareholders increased from 44,422 to 45,326 during the reporting period[128]. - The largest shareholder, Heilongjiang Highway Group, holds 33.48% of the shares, while Heilongjiang Yuanlong Scenic Investment Management Partnership holds 9.96%[128]. - Guangzhou Chensong Investment Partnership increased its holdings by 115 million shares, now holding 8.74% of the shares[128]. - The controlling shareholder, Heilongjiang Provincial Highway Group, has not undergone any changes during the reporting period, ensuring stability in governance[136]. Employee and Management - The total pre-tax remuneration for the board members during the reporting period amounted to 426.80 million CNY[146]. - The chairman, Wang Qingbo, received a pre-tax remuneration of 44.91 million CNY, while the general manager, Gong Hong, also received 44.91 million CNY[143]. - The company employed a total of 608 staff members, including 341 production personnel and 19 technical personnel[167]. - The company has established a layered training system to ensure employee growth and corporate development[170].