RT(SH:603036)2021-06-03 16:00Financial Performance - The company's operating revenue for 2020 was RMB 290,718,194.62, a decrease of 2.72% compared to RMB 298,859,040.24 in 2019[21]. - The net profit attributable to shareholders of the listed company was RMB 67,807,109.47, representing a 4.60% increase from RMB 64,823,672.76 in the previous year[21]. - The total assets at the end of 2020 amounted to RMB 1,261,794,424.39, reflecting a 4.09% increase from RMB 1,212,176,633.38 in 2019[22]. - The basic earnings per share for 2020 was RMB 0.33, up 3.13% from RMB 0.32 in 2019[23]. - The weighted average return on equity for 2020 was 6.26%, slightly down from 6.30% in 2019[23]. - The net cash flow from operating activities for 2020 was RMB 53,256,867.34, a decrease of 3.08% from RMB 54,949,005.17 in 2019[21]. - The company's net assets attributable to shareholders at the end of 2020 were RMB 1,114,415,610.41, an increase of 5.43% from RMB 1,056,972,011.55 in 2019[21]. - The company reported non-recurring gains and losses totaling CNY 11,986,583.27 for 2020, compared to CNY 9,368,644.25 in 2019[28]. - Total profit amounted to ¥78,907,580.80, an increase of 3.35% year-on-year[40]. - Net profit reached ¥66,618,533.70, up 2.44% year-on-year[40]. - The company reported a significant decrease in operating costs by 11.37%, totaling ¥140,427,643.03[42]. - The company reported a significant increase in investment income, totaling ¥11.7 million in 2020, compared to ¥8.0 million in 2019, marking a 45.5% increase[175]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of RMB 1.50 per 10 shares, totaling RMB 31,000,950, subject to shareholder approval[5]. - In 2020, the company declared a cash dividend of 1.50 CNY per 10 shares, an increase from 1.20 CNY in 2019, representing a growth of 25%[78]. - The company did not propose a cash profit distribution plan despite having positive distributable profits for the reporting period[79]. - The company has committed to not transferring or entrusting the management of shares held by major shareholders for a period of 36 months from the date of listing[80]. - The total number of ordinary shareholders increased from 15,671 to 16,459 during the reporting period[116]. - The largest shareholder, Ms. Cao Caihong, holds 30,069,752 shares, representing 14.55% of the total shares[118]. - The total number of shares held by the top ten shareholders is 75,000,000, accounting for approximately 36.36% of total shares[118]. Operational Highlights - The company maintained its core business in oil and gas drilling equipment, focusing on R&D and expanding its international market presence[29]. - The company adopted a direct sales model complemented by distribution, ensuring effective contract management and quality control[30]. - The company emphasized the development of automated drilling products to align with industry trends and customer needs[29]. - The oil and gas industry faced challenges due to the COVID-19 pandemic, but the company's operations were less negatively impacted due to domestic energy security strategies[31]. - The company has established long-term partnerships with major domestic and international oil service companies, enhancing its market position[29]. - The company achieved operating revenue of ¥290,718,194.62, a decrease of 2.72% year-on-year[40]. - The company maintained a stable customer base, including major oil companies like PetroChina and Sinopec, ensuring reliable sales channels[32]. - The company developed and promoted 21 new products, including automated wellhead products, during the reporting period[39]. Research and Development - Research and development expenses were ¥15,731,981.72, reflecting a 3.45% increase year-on-year[42]. - Total R&D investment amounted to ¥15.73 million, accounting for 5.41% of total revenue[53]. - The company is accelerating the development of high-value-added products in the oil and gas drilling sector, particularly in automation for drilling and well repair[66]. - The company aims to develop a second main business by expanding product lines beyond the oil industry, focusing on rail transit products like the BFA02 axle-mounted brake disc, which has passed CRCC trial certification[64]. Financial Position and Assets - Total assets increased to CNY 1,261,794,424.39 in 2020, up from CNY 1,212,176,633.38 in 2019, representing a growth of approximately 4.1%[165]. - Current assets totaled CNY 1,100,504,308.96 in 2020, compared to CNY 1,051,158,922.44 in 2019, marking an increase of about 4.7%[165]. - Cash and cash equivalents rose to CNY 392,512,644.49 in 2020, up from CNY 304,664,426.92 in 2019, reflecting a growth of approximately 28.7%[164]. - Accounts receivable increased to CNY 177,779,185.54 in 2020, compared to CNY 169,275,019.99 in 2019, showing a rise of about 5.5%[164]. - Total liabilities decreased to CNY 128,227,724.29 in 2020 from CNY 134,864,956.37 in 2019, a reduction of approximately 4.9%[166]. - Owner's equity increased to CNY 1,133,566,700.10 in 2020, up from CNY 1,077,311,677.01 in 2019, indicating a growth of about 5.2%[166]. Governance and Compliance - The company has not reported any significant accounting policy changes or errors during the reporting period[84]. - The company has not reached the original profit forecast for any assets or projects during the reporting period[83]. - The company appointed Tianjian Accounting Firm as the auditor for the 2020 fiscal year[86]. - The internal control audit report received a standard unqualified opinion, indicating no significant deficiencies in internal controls[147]. - The company’s financial statements were audited in accordance with Chinese accounting standards, reflecting a true and fair view of its financial position as of December 31, 2020[151]. Social Responsibility and Employee Welfare - The company invested over 5 million yuan in safety and environmental protection facilities over the past three years, ensuring compliance with emission standards[100]. - The company donated over 600,000 yuan to support COVID-19 relief efforts in 2020 and established a charity fund to assist underprivileged students[99]. - The company actively promotes employee welfare, providing various training programs and support for employees facing difficulties[100]. - The company has established a charity fund in collaboration with the Rudong Charity Association, contributing 600,000 yuan over three years[99]. - The company has implemented a safety and environmental responsibility system, ensuring that all employees are aware of their roles in maintaining compliance[100].