Baida Precision(SH:603331)2021-04-12 16:00Dividend Distribution - The proposed cash dividend distribution is 2 RMB per 10 shares, totaling approximately 35,631,475.80 RMB, based on an estimated total share count of 178,157,379 shares after the repurchase[5]. - The company plans to adjust the total dividend amount based on the total share capital at the time of the distribution, reflecting a flexible approach to shareholder returns[5]. - For 2020, the proposed cash dividend is 2 yuan per 10 shares, totaling approximately 35.63 million yuan, pending shareholder approval[98]. - The cash dividend for 2020 was RMB 35,631,475.80, with a distribution of 2 shares for every 10 shares held[100]. Financial Performance - The company's operating revenue for 2020 was approximately ¥967.59 million, representing a year-over-year increase of 13.55% compared to ¥852.10 million in 2019[23]. - The net profit attributable to shareholders for 2020 was approximately ¥81.49 million, reflecting a 9.06% increase from ¥74.72 million in 2019[23]. - The basic earnings per share for 2020 was ¥0.46, up 9.52% from ¥0.42 in 2019[24]. - The total assets at the end of 2020 reached approximately ¥1.89 billion, a 25.59% increase from ¥1.50 billion at the end of 2019[23]. - The company generated a net cash flow from operating activities of approximately ¥9.34 million in 2020, a significant decrease of 73.25% from ¥34.93 million in 2019[23]. - The weighted average return on equity for 2020 was 9.75%, a slight decrease from 10.13% in 2019[24]. - The net profit for 2020 was 81 million yuan, reflecting a year-on-year increase of 9.39%[39]. - The company achieved operating revenue of 967,589,792.88 CNY, representing a year-on-year growth of 13.55%[43]. - The net profit attributable to the parent company was 81,486,865.68 CNY, an increase of 9.06% compared to the previous year[44]. 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[4]. - There are no non-operating fund occupations by controlling shareholders or related parties, indicating a stable financial governance structure[7]. - The company has not violated any decision-making procedures for external guarantees, reinforcing its compliance with regulatory standards[8]. - The company is committed to ensuring the authenticity and completeness of the annual report, with all board members present at the meeting[9]. Risk Management - The report includes a detailed discussion of potential risks faced by the company, emphasizing the importance of investor awareness regarding investment risks[8]. - The company acknowledges risks from external economic uncertainties, raw material price volatility, and competitive market pressures[89]. - The company faces risks from concentrated customer bases, as major clients have strong bargaining power, impacting profitability[91]. Research and Development - The company is actively developing new materials and technologies, including aluminum components for electric vehicle air conditioning compressors[32]. - The company is expanding its product offerings in the automotive parts sector, focusing on lightweight products for electric vehicles[32]. - Research and development expenses rose by 5.10% to CNY 28,047,037.55, representing 2.90% of total revenue[65]. - The company employed 258 R&D personnel, making up 11.21% of the total workforce[65]. Environmental Responsibility - The company has achieved zero major environmental pollution incidents and is actively promoting energy-saving and emission-reduction initiatives[141]. - The company strictly adhered to environmental laws and regulations in 2020, ensuring pollutant emissions met standards and passing various inspections[143]. - The company operates under a framework of environmental responsibility, with a focus on pollution control and compliance with environmental standards[146]. - The company has established waste treatment facilities, including waste gas and wastewater treatment systems, to manage environmental impact effectively[146]. Shareholder Structure - The largest shareholder, Baida Holdings Group Co., Ltd., holds 67,200,000 shares, representing 37.55% of the total shares, with 42,764,433 shares pledged[188]. - The second-largest shareholder, Shi Xiaoyou, owns 15,743,700 shares, accounting for 8.80% of the total shares[188]. - The company has no other significant shareholders holding more than 10% of the shares[197]. - The report indicates that there are no changes in the controlling shareholder or actual controller during the reporting period[192]. Capital Management - The company issued convertible bonds, resulting in a new bond payable of approximately $225.64 million, marking a 100% increase[70]. - The company issued RMB 280 million convertible bonds on March 11, 2020, with a maturity of six years[154]. - The coupon rates for the bonds are 0.4% in the first year, increasing to 2.0% in the sixth year[156]. - The bonds will be traded on the Shanghai Stock Exchange starting April 8, 2020[154]. Operational Efficiency - The company is enhancing its management efficiency through resource optimization and automation to reduce costs and improve product quality[87]. - The company implemented various information technology systems to enhance operational efficiency and reduce costs, maintaining stable gross margins despite rising labor costs[47]. - The company is committed to digital transformation and modern management practices to improve operational efficiency and market responsiveness[88].