SPM(SH:601900)2021-04-27 16:00Financial Performance - The company's operating revenue for 2020 was approximately ¥6.90 billion, an increase of 5.69% compared to ¥6.53 billion in 2019[24]. - Net profit attributable to shareholders for 2020 was approximately ¥760.44 million, reflecting a growth of 3.73% from ¥733.10 million in 2019[24]. - The net profit after deducting non-recurring gains and losses was approximately ¥659.08 million, a significant increase of 26.78% compared to ¥519.86 million in 2019[24]. - The weighted average return on equity for 2020 was 12.05%, a decrease of 0.72 percentage points from 12.77% in 2019[25]. - The net cash flow from operating activities for 2020 was approximately ¥780.70 million, down 9.40% from ¥861.73 million in 2019[24]. - The company's total assets at the end of 2020 were approximately ¥11.46 billion, an increase of 6.62% from ¥10.75 billion at the end of 2019[24]. - Basic earnings per share for 2020 were ¥0.85, up 3.66% from ¥0.82 in 2019[25]. - The net assets attributable to shareholders at the end of 2020 were approximately ¥6.58 billion, an increase of 8.84% from ¥6.05 billion at the end of 2019[24]. - The company achieved an annual revenue of 6.897 billion yuan, representing a year-on-year growth of 5.69%[52]. - The net profit for the year was 769 million yuan, with a year-on-year increase of 3.73%[52]. - Total assets reached 11.456 billion yuan, marking a year-on-year growth of 6.62%[52]. - Net assets amounted to 6.770 billion yuan, reflecting an 8.54% increase compared to the previous year[52]. Dividend Distribution - The company plans to distribute a cash dividend of 3.10 CNY per 10 shares, totaling approximately 277.72 million CNY based on the total share capital of 895,876,566 shares as of the end of 2020[6]. - A cash dividend of 2.50 RMB per 10 shares was distributed, totaling 223,969,141.50 RMB, as approved by the 2019 annual shareholders' meeting[129]. - The proposed cash dividend for 2020 is 3.10 RMB per 10 shares, amounting to 277,721,735.46 RMB, pending approval from the shareholders' meeting[132]. - In 2020, the company distributed cash dividends totaling 277,721,735 RMB, representing 36.52% of the net profit attributable to ordinary shareholders[133]. - The cash dividend per 10 shares increased from 2.200 RMB in 2018 to 3.100 RMB in 2020, reflecting a growth of 40.91%[133]. - The company did not propose any cash profit distribution plan despite having positive distributable profits for the reporting period[133]. Governance and Compliance - The company has received a standard unqualified audit report from Xinyong Zhonghe Accounting Firm, ensuring the accuracy and completeness of the financial report[5]. - The company has confirmed that all board members attended the board meeting, ensuring governance and oversight[5]. - The company’s financial report has been declared true, accurate, and complete by the responsible executives, including the chairman and accounting head[5]. - There are no non-operating fund occupations by controlling shareholders or related parties, and no violations in decision-making procedures for external guarantees[8]. - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute a substantive commitment to investors, highlighting investment risks[7]. - The company committed to strictly adhere to relevant laws and regulations regarding related party transactions during the control of Southern Media[134]. - The company ensured that no direct or indirect competition exists with Southern Media's main business activities[134]. - The company confirmed that all information disclosed during the restructuring process is true, accurate, and complete, bearing legal responsibility for any misrepresentation[134]. - The company has committed to ensuring that its financial practices comply with relevant laws and regulations, particularly concerning employee social insurance and housing fund contributions[141]. Business Operations and Market Position - The company published 2,906 types of general books, 183 types of audio-visual products, and 342 types of electronic publications in 2020[43]. - The distribution network includes 122 central stores and 129 campus bookstores, with a total of 956 sales outlets across Guangdong province[44]. - The company exported 283 types of book copyrights in 2020, setting a new historical high[46]. - The company is positioned as a key publishing base for national textbooks, with its proprietary new curriculum standard textbooks used in 31 provincial-level administrative regions[45]. - The company maintains a competitive edge in the cultural media industry in Guangdong province, with strong growth in both business and assets[43]. - The company published 4,524 types of textbooks and 1,242 types of auxiliary materials, achieving textbook sales revenue of 2.968 billion yuan, a year-on-year increase of 10.81%[53]. - The total supply of free textbooks reached approximately 176 million copies, a year-on-year growth of 2.75%, with a revenue of about 1.361 billion yuan, up 4.57%[53]. - The company achieved a total distribution revenue of 5.401 billion yuan and an income of 3.983 billion yuan in 2020[57]. - The company constructed or renovated 14 stores, covering an area of 20,000 square meters, enhancing its physical retail presence[57]. - The company successfully completed the restructuring of several bookstores, achieving absolute state control and fulfilling the first phase of its market-oriented restructuring goals[57]. Risks and Challenges - The company faces risks related to new business expansion, tax policy changes, and potential cost increases due to raw material price fluctuations[128]. - The company is facing significant litigation matters, which have been disclosed in temporary announcements, indicating ongoing legal challenges[148]. Social Responsibility and Community Engagement - The company successfully completed poverty alleviation goals, with 201 households and 925 individuals exiting relative poverty in 2020[181]. - The company donated various pandemic prevention materials, including over 5,200 copies of educational books related to COVID-19 prevention[181]. - The company has committed to ensuring 100% of poverty-stricken households receive policy-based support for poverty alleviation[181]. - The company has established a strong grassroots party organization to enhance governance capabilities in poverty alleviation efforts[181]. - Total funding for poverty alleviation reached 388.11 million RMB, with material donations amounting to 37.50 million RMB[185]. - A total of 910 registered impoverished individuals were lifted out of poverty through various initiatives[185]. - The company allocated 17.13 million RMB to support 820 impoverished students, alongside an additional 30 million RMB to improve educational resources in impoverished areas[185]. Environmental Protection - Environmental protection measures include the completion of waste gas treatment facilities and wastewater management systems, with ongoing upgrades and compliance with standards[193]. - The company has established an emergency response plan for environmental incidents, which was revised at the end of 2020[195]. - The company conducts quarterly monitoring of emissions and submits reports to local environmental authorities[196]. - The company emphasizes environmental protection and complies with multiple environmental laws and regulations in China[198].