IBS(SH:603183)2021-04-08 16:00Financial Performance - The company's operating revenue for 2020 was CNY 785,885,209.78, representing a 28.55% increase compared to CNY 611,364,181.82 in 2019[23]. - Net profit attributable to shareholders for 2020 was CNY 127,284,088.19, a 57.52% increase from CNY 80,803,050.12 in 2019[23]. - The net cash flow from operating activities reached CNY 150,560,422.26, up 115.84% from CNY 69,756,061.61 in 2019[23]. - Total assets at the end of 2020 were CNY 1,664,695,482.80, a 22.15% increase from CNY 1,362,864,622.28 at the end of 2019[23]. - Basic earnings per share for 2020 were CNY 0.45, a 40.63% increase from CNY 0.32 in 2019[23]. - The weighted average return on equity for 2020 was 11.22%, an increase of 0.29 percentage points from 10.93% in 2019[23]. - The company reported a quarterly revenue of CNY 292,459,623.28 in Q4 2020, showing a strong performance in the last quarter[26]. - The company achieved a revenue of 785.89 million RMB in 2020, representing a year-on-year growth of 28.55%[51]. - The net profit attributable to shareholders reached 127 million RMB, an increase of 57.52% compared to the previous year[51]. - Operating cash inflow was 151 million RMB, showing a significant growth of 115.84% year-on-year[51]. Dividend Policy - The company plans to distribute a cash dividend of 0.88 CNY per 10 shares, totaling approximately 26.25 million CNY, representing a cash dividend payout ratio of 20.62%[4]. - The company emphasizes a stable cash dividend policy, aiming to distribute at least 20% of its distributable profits annually, contingent on meeting specific financial conditions[97]. - The company proposed a cash dividend plan where the minimum cash dividend ratio is set at 80% for mature companies without significant capital expenditure plans[98]. - The cash dividend distribution for 2020 represented 20.62% of the net profit attributable to ordinary shareholders[108]. - The company must adjust its profit distribution policy based on operational conditions and long-term development needs, requiring a two-thirds majority approval from shareholders[103]. - The profit distribution plan must be approved by at least two-thirds of the voting rights at the shareholders' meeting[102]. - The company has implemented the profit distribution plan for the year 2020 as approved by the shareholders' meeting[107]. Market Position and Competition - The company has established a strong regional competitive advantage in construction engineering testing, professional construction, design supervision, and green building materials due to rapid development in the macro economy and real estate sector[8]. - The company faces potential cyclical fluctuations in performance due to a slowdown in domestic economic growth and ongoing macro-control of the real estate market[8]. - The company is experiencing increased pressure from competition as the market expands, with more competitors entering the construction services industry[8]. - The company is significantly affected by macroeconomic conditions and policy regulations related to the construction services industry[9]. Accounts Receivable and Financial Risks - The company has a rising trend in accounts receivable, which poses a risk of bad debts due to the long project cycles and complex settlement processes in the construction industry[9]. - The company’s accounts receivable aged over three years represent a relatively high proportion, increasing the difficulty of collection and potential for bad debt losses[9]. - The company faces risks related to industry fluctuations, market competition, and the potential for bad debts due to long accounts receivable periods[86][87][88]. Business Segments and Operations - The company's main business includes engineering technical services and the production and sales of new building materials[33]. - Engineering technical services encompass quality testing, environmental testing, specialized construction, engineering design, and project supervision[34]. - The construction and material segment focuses on providing integrated waterproofing materials and construction services, improving project execution capabilities[49]. - The company has completed over 1,000 structural reinforcement projects, enhancing its reputation in the industry[35]. - New building materials produced include waterproof membranes, waterproof coatings, concrete additives, and insulation materials, with several products recognized as high-tech products[37]. - The company has established a comprehensive sales network for building materials, utilizing direct sales and distribution models[39]. Research and Development - The company has invested significantly in R&D, leading to the development of new technologies and innovative solutions in the construction sector[46]. - R&D expenses increased by 55.65% to ¥44,235,297.35 compared to ¥28,420,090.75 in the previous year[63]. - The total number of R&D personnel is 190, accounting for 12.95% of the company's total workforce[64]. - The company is committed to accelerating research and development of high-performance building materials and intelligent testing equipment to achieve breakthroughs[85]. Shareholder Engagement and Governance - The company must communicate with minority shareholders to gather their opinions before the cash dividend plan is reviewed by the shareholders' meeting[99]. - Independent directors are required to provide clear opinions on the profit distribution plan before it is submitted for shareholder approval[102]. - The company has established a unified action agreement among its major shareholders, enhancing governance[164]. - The company’s major shareholders include individuals with significant roles in the Suzhou Architectural Science Research Institute Group[165]. Financial Management and Audit - The audit report confirmed that the financial statements fairly reflect the company's financial position and operating results for the year[192]. - The internal control evaluation report concluded that there were no significant defects in financial reporting internal controls as of the evaluation date[188]. - Management is responsible for preparing financial statements in accordance with accounting standards to ensure fair representation[199]. - The audit aims to provide reasonable assurance that the financial statements are free from material misstatement due to fraud or error[200]. Employee Development and Training - The company has a training school that has trained numerous professionals in the construction industry, contributing to talent development[36]. - The company has implemented a training system that includes pre-job training, internal training, and external training to enhance employee skills and team cohesion[181]. - The total number of employees in the parent company and major subsidiaries is 1,467, with 939 production personnel and 128 sales personnel[179]. - The educational background of employees includes 62 with postgraduate degrees, 792 with bachelor's degrees, and 613 with college diplomas or below[179].