WAZAM(SH:603186)2021-03-15 16:00Dividend Distribution - The company plans to distribute a cash dividend of 2.80 RMB per 10 shares to all shareholders, pending approval at the annual general meeting[5] - In 2020, the cash dividend increased to 2.8 RMB per 10 shares, amounting to 39,772,687.40 RMB, which is 31.76% of the net profit attributable to ordinary shareholders[130] - The company distributed cash dividends of 1.7 RMB per 10 shares in 2019, totaling 21,989,500 RMB, representing 21.53% of the net profit attributable to ordinary shareholders[130] Financial Performance - The company's revenue for 2020 reached approximately ¥2.28 billion, representing a 12.75% increase compared to ¥2.03 billion in 2019[21] - Net profit attributable to shareholders for 2020 was approximately ¥125.22 million, a 22.60% increase from ¥102.14 million in 2019[21] - Basic earnings per share for 2020 was ¥0.92, reflecting a 16.46% increase from ¥0.79 in 2019[23] - The company's total assets at the end of 2020 were approximately ¥3.47 billion, a 43.80% increase from ¥2.41 billion at the end of 2019[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses for 2020 was approximately ¥103.90 million, a 17.04% increase from ¥88.77 million in 2019[21] - The company reported a total profit of 21,320,952.11 RMB for the year, an increase from 13,368,545.65 RMB in the previous year, representing a growth of approximately 59.5%[29] Audit and Compliance - The company has received a standard unqualified audit report from Zhonghui Certified Public Accountants[4] - The company has confirmed that all board members attended the board meeting, ensuring accountability for the report's accuracy[8] - The company’s financial report is guaranteed to be true, accurate, and complete by its management[4] - There were no significant lawsuits or arbitration matters during the reporting period[148] - The company has maintained a good integrity status, with no instances of failing to repay large debts or being publicly reprimanded by regulatory authorities[149] - The company has not engaged in any non-standard opinion audit reports during the reporting period[145] Risk Management - The company has detailed potential risk factors in the report, which investors should review[10] - The company has a comprehensive risk statement included in the report[10] - There are no non-operating fund occupations by controlling shareholders or related parties[7] - The company has not violated decision-making procedures for external guarantees[7] Research and Development - The company focuses on the research and development of copper-clad laminates and functional composite materials, which are essential for various high-tech applications including communication systems and electric vehicles[33] - The company’s R&D investment has significantly increased, with the number of routine testing projects completed in 2020 being 3.68 times that of 2019[56] - The focus of R&D efforts included RF microwave high-frequency copper-clad laminates, with multiple sub-products already launched to meet 5G market demands[79] - The company is developing low-loss, high-thermal conductivity materials for high-speed communication applications, with some products certified by major domestic telecom companies[80] - R&D on semiconductor packaging substrates has been prioritized, with products already positioned in markets such as Chip LED and Mini backlight displays[81] Production and Sales - The company produced 16.71 million sheets of copper-clad laminates, an increase of 17.43% year-over-year, and sold 16.75 million sheets, up 18.18%[59] - The total revenue for the main business reached RMB 2,205.46 million, a growth of 10.40% compared to the previous year[59] - The company achieved a significant sales growth in high-frequency and high-speed copper-clad laminates, with the H2 product line sales accounting for over 50% of total sales[51] - The company’s trading financial assets increased significantly from 472,325.60 RMB at the beginning of the period to 191,895,603.72 RMB at the end, marking a change of 191,423,278.12 RMB, which positively impacted profits by 1,423,278.12 RMB[31] Strategic Initiatives - The company has established a strategic procurement department to enhance the efficiency of raw material sourcing, ensuring quality control and cost management[38] - The company is actively constructing a new production facility in Zhuhai with an annual capacity of 24 million high-grade copper-clad laminates, which has already commenced construction[54] - The company has established business relationships with over 50% of the top 100 PCB companies, indicating a steady increase in strategic customer proportion[46] - The company is focusing on the development of lithium battery soft-pack aluminum-plastic film, with a new project for an annual output of 36 million square meters initiated in 2020[54] Shareholder and Governance - The actual controller and shareholders committed to not transferring or entrusting their shares for 36 months from the date of the company's stock listing[134] - The company will extend the lock-up period by 6 months if the stock price falls below the issue price at the end of the 6-month period post-listing[134] - The company has committed to ensuring its business remains independent and to avoid unnecessary related transactions[135] - The company has committed to not engaging in any activities that compete with its business during the holding period of shares[135] Environmental Compliance - The company is listed as a key pollutant discharge unit according to the Zhejiang Provincial Ecological Environment Department[168] - The total amount of hazardous waste generated during the reporting period is 189.84 tons, with 178.86 tons disposed of by qualified units[169] - The company achieved a COD discharge concentration of 156 mg/L, which is below the standard limit of 500 mg/L, indicating compliance[170] - The company’s NOx emissions from the natural gas boiler were measured at 21 mg/m3, well below the standard limit of 150 mg/m3[170] Financial Management - The company has entrusted cash asset management with a total amount of 310,000,000.00 RMB from idle raised funds[160] - The balance of entrusted cash management at the end of the reporting period is 190,000,000.00 RMB[160] - The company reported a total of 50,000 million in structured deposits for the year 2020, with a yield of 3.33%[163] - The structured deposit product from Hangzhou Bank showed a decrease of 3.2% in fundraising revenue, totaling 71.23 million[163] Market Trends - The global PCB market is projected to reach approximately $64 billion in 2020, with a year-on-year growth of about 4%, and China accounting for 53.6% of the global market value[104] - The domestic CCL industry is expected to maintain rapid growth, with a new production capacity of 16.4 million square meters per year, representing a 30% increase over existing total capacity[105] - The market share of new energy vehicles in China increased from 4.8% in 2019 to 5.4% in 2020, driving demand for vehicle copper-clad laminates[108]