SLPT(SH:603178)2021-04-19 16:00Financial Performance - The company's operating revenue for 2020 was approximately CNY 1.22 billion, a slight increase of 0.10% compared to 2019[20]. - The net profit attributable to shareholders was CNY 55.60 million, a significant recovery from a loss of CNY 209.61 million in 2019[20]. - Basic earnings per share for 2020 were CNY 0.28, compared to a loss of CNY 1.04 per share in 2019[21]. - The weighted average return on equity improved to 8.60%, an increase of 37.28 percentage points from -28.68% in 2019[21]. - The company's total assets decreased by 3.02% to approximately CNY 1.87 billion at the end of 2020[20]. - The company reported a net profit of CNY 17.16 million in Q4 2020, following a positive trend throughout the year[23]. - The company achieved an operating revenue of 1,221,877,952.65 RMB, a slight increase of 0.1% compared to the previous year[84]. - The gross profit margin improved to 14.69%, reflecting a year-on-year increase of 33.14%[88]. - The company experienced a significant increase in investment income from joint ventures, contributing positively to overall financial performance[88]. - The company reported a significant increase in cash flow from investment activities, totaling 46,814,373.74, compared to a negative cash flow of -124,404,309.45 in the previous year[105]. Dividend Policy - The company plans to distribute a cash dividend of 0.85 CNY per 10 shares (including tax), totaling approximately 17,096,815 CNY based on a total share capital of 201,139,000 shares as of December 31, 2020[6]. - The company maintains a cash dividend policy, aiming for a minimum of 20% of distributable profits to be allocated as cash dividends, reflecting its commitment to investor returns[153]. - The company will maintain a consistent, reasonable, and stable dividend distribution policy, ensuring the authenticity of cash dividend disclosures[158]. - The company did not propose a cash profit distribution plan for the reporting period despite having positive distributable profits[164]. - The company's dividend distribution plan is subject to approval by the board and requires a two-thirds majority from attending shareholders[158]. Risk Management - The company does not foresee any major risks that could impact the authenticity and completeness of the annual report[7]. - Risks include potential performance declines due to fluctuations in downstream product demand, particularly affecting the automotive parts market[143]. - The company faces risks from new technologies and products that may replace existing offerings, impacting overall performance[144]. - The automotive parts market is highly competitive, with significant pressure on the company to continuously upgrade products to meet the evolving demands of automakers[146]. - The company is exposed to risks from volatility in the prices of key raw materials, which significantly impact production costs[148]. Research and Development - The company has developed integrated dual-pump products for automotive applications, which are now in mass production[31]. - The company is preparing for mass production of the sEOP150 and sEOP450 electronic pumps for new energy vehicles[32]. - The increase in net profit was attributed to improved product gross margins, cost control, and reduced asset impairment losses[20]. - The company has developed core components for automatic transmissions, filling domestic gaps in high-performance clutch assemblies and planetary gear frames, with mass production already achieved[34]. - The company is actively collaborating with research institutions like Tsinghua University and Tongji University to accelerate the validation and implementation of new energy projects such as hub motors and hybrid transmissions[35]. - The company has developed various new products, including electronic oil pumps and battery thermal management system electronic water pumps, to cater to the needs of new energy vehicles[51]. - The company has established strategic partnerships with research institutions such as Tsinghua University and Tongji University to accelerate the development of new energy projects[51]. - Research and development expenses totaled 53,839,241.62, accounting for 4.41% of total revenue, with 180 R&D personnel representing 11.32% of total staff[102]. Market Strategy and Expansion - The company is actively expanding its customer base, collaborating with major automotive manufacturers such as Volkswagen, General Motors, and Ford[78]. - The company is focusing on the development of new energy vehicles, with plans to accelerate product verification and market entry for projects like hub motors and hybrid transmissions within the next 3-5 years[135]. - The company is expanding its electronic pump business and has initiated communication with new energy vehicle manufacturers like Tesla and NIO for future business opportunities[141]. - The automotive parts industry in China has significant growth potential, with the company positioned to capitalize on this trend through innovation and improved production capabilities[129]. - The company aims to enhance its core competitiveness by optimizing organizational structure and integrating domestic supply chains to reduce costs[137]. Production and Operations - The company has established a complete business process from order acquisition to manufacturing and delivery, ensuring efficient production based on customer orders[45]. - The company has implemented lean production methods and advanced production technologies to reduce costs, achieving significant production efficiency while maintaining high precision and quality[67]. - The company has made progress in smart factory construction, with MES systems implemented in various production lines, enhancing real-time data collection and process improvement capabilities[73]. - The company has developed a digital three-dimensional warehouse to improve space utilization and picking speed, contributing to operational efficiency[73]. - The production capacity for the GF9 transmission oil pump project was increased from 200,000 units to 450,000 units annually[75]. - The production capacity for the 8F35 and 8F24 transmission parts increased from 11,000 sets per month to 25,000 sets per month[74]. Compliance and Governance - The company has received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the accuracy and completeness of the financial report[5]. - There are no non-operating fund occupations by controlling shareholders or related parties, and no violations in decision-making procedures for external guarantees[7]. - The company has committed to not engaging in any business activities that directly or indirectly compete with its main operations[174]. - The company guarantees that it will not use related party transactions to transfer profits from the issuer[175]. - The company will ensure the independence of the issuer in terms of assets, personnel, finance, business, and organization[175].