东珠生态(603359) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was RMB 2,337,907,610.93, representing a year-on-year increase of 15.93% compared to RMB 2,016,689,200.82 in 2019[20]. - The net profit attributable to shareholders of the listed company was RMB 380,367,379.99, an increase of 5.22% from RMB 361,506,686.40 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 390,402,410.30, up 7.73% from RMB 362,394,578.62 in 2019[20]. - The net cash flow from operating activities improved significantly to RMB 22,911,453.28, compared to a negative RMB 77,688,177.09 in 2019, marking a 129.49% increase[20]. - As of the end of 2020, the total assets of the company reached RMB 7,403,052,372.54, a 24.02% increase from RMB 5,969,226,963.30 at the end of 2019[20]. - The net assets attributable to shareholders of the listed company were RMB 3,209,265,358.12, reflecting a 9.67% increase from RMB 2,926,293,293.54 in 2019[20]. - Basic earnings per share rose by 5.31% to CNY 1.19, while diluted earnings per share also increased by 5.31%[21]. - The weighted average return on equity decreased by 0.72 percentage points to 12.35%[21]. - The company achieved operating revenue of RMB 233,790.76 million, representing a year-on-year growth of 15.93%[50]. - The net profit attributable to the parent company was RMB 38,036.74 million, an increase of 5.22% compared to the previous year[50]. - Total assets reached RMB 740,305.24 million, reflecting a growth of 24.02% from the end of the previous year[50]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 2.00 per 10 shares, totaling RMB 63,728,000.00, while also increasing capital stock by 4 shares for every 10 shares held, resulting in a total increase of 127,456,000 shares[4]. - The cash dividend distribution plan has been consistent over the past three years, reflecting stable profitability[99]. - In 2020, the company distributed a cash dividend of 6,372,800 RMB, representing 16.75% of the net profit attributable to ordinary shareholders[99]. - In 2019, the cash dividend was also 6,372,800 RMB, accounting for 17.63% of the net profit attributable to ordinary shareholders[99]. - In 2018, the cash dividend was 4,779,600 RMB, which was 14.67% of the net profit attributable to ordinary shareholders[99]. - The company has not proposed a cash profit distribution plan for the reporting period despite having positive distributable profits[99]. Research and Development - In 2020, the company's R&D expenses increased to 75.35 million yuan, a year-on-year increase of 20.89%[31]. - The company is committed to research and development in environmental protection technologies, aiming to innovate and improve service efficiency[79]. - The company plans to continue increasing its R&D team and improving project management to enhance innovation and competitiveness in the industry[69]. - Research and development expenses rose by 20.89% to CNY 75,354,376.13, indicating increased investment in R&D[57]. Strategic Focus and Market Position - The company operates in the ecological protection and environmental governance industry, focusing on ecological restoration and landscape construction services[30]. - The company is advancing its ecological restoration and municipal landscape businesses in response to increasing environmental protection demands and new urbanization initiatives[30]. - The company is positioned to benefit from the government's increased investment in ecological and environmental protection, with a focus on infrastructure projects[37]. - The company is expanding its market presence in water ecological governance, mining restoration, and forest park projects, aiming for comprehensive coverage in the ecological restoration industry[31]. - The company is leveraging its strong qualifications in municipal public engineering and environmental protection to enhance its project planning and execution capabilities[38]. - The company is actively involved in the construction of urban green spaces and ecological tourism projects, contributing to the beautification of rural areas[32]. - The company is focusing on risk control mechanisms to mitigate financial risks associated with project execution in the landscaping engineering industry[54]. - The company is exploring opportunities in forestry carbon sinks, mine remediation, and soil restoration to optimize and upgrade its industry chain[53]. Governance and Compliance - The company has provided a standard unqualified audit report from Da Hua Accounting Firm[7]. - The company emphasizes the importance of risk awareness regarding future plans and development strategies, advising investors to be cautious[5]. - The company has maintained a good integrity status with no significant debts or court judgments unfulfilled during the reporting period[108]. - The company has engaged in significant strategic cooperation agreements with various entities, including a project cooperation framework agreement with the People's Government of Fengquan District, Xinxiang City, signed in August 2020, with ongoing projects facing implementation uncertainties[119]. - The company has committed to maintaining compliance with national laws and regulations, ensuring accurate and timely information disclosure to support investor decision-making[121]. Operational Efficiency and Cash Flow - The net cash flow from operating activities surged by 129.49% to CNY 22,911,453.28, attributed to enhanced collection of project payments[57]. - The company aims to enhance its project management system to improve cash flow, focusing on selecting projects with good credit and guaranteed payments[87]. - The company reported a significant increase in cash inflow from other operating activities, which rose to approximately ¥435.48 million from ¥283.62 million, a growth of 53.5%[186]. - The cash flow from financing activities showed a net outflow of $77,772,081.77, compared to a net outflow of $56,801,162.49 in the previous year, reflecting increased financing costs[190]. Assets and Liabilities - Total assets increased to ¥7,403,052,372.54 in 2020 from ¥5,969,226,963.30 in 2019, representing a growth of approximately 24%[174]. - Total liabilities reached ¥4,101,631,153.12 in 2020, compared to ¥2,967,455,796.97 in 2019, indicating an increase of around 38.2%[174]. - Owner's equity grew to ¥3,301,421,219.42 in 2020 from ¥3,001,771,166.33 in 2019, which is an increase of about 10%[175]. - The company's deferred income tax assets rose to ¥28,694,082.10 in 2020, compared to ¥14,417,451.04 in 2019, a significant increase of 99.0%[179]. Shareholder Structure and Management - The total number of ordinary shareholders at the end of the reporting period is 18,012, a decrease from 18,027 at the end of the previous month[128]. - The top ten shareholders hold a total of 121,226,000 shares, representing 38.04% of the total shares[129]. - The largest shareholder, Xi Hui Ming, holds 121,226,000 shares, while the second-largest shareholder, Pu Jian Fen, holds 31,136,280 shares[129]. - The company has a diverse management team with extensive experience in various sectors, including engineering and finance[137]. - The company has maintained a stable leadership structure with key personnel holding significant positions since its establishment[137]. Environmental and Social Responsibility - The company actively seeks opportunities for horizontal integration in environmental protection, water ecology, and solid waste treatment sectors[122]. - The company does not belong to the key pollutant discharge units as per environmental protection department regulations, and operates in the green industry[122]. - The company is committed to enhancing its ecological restoration and landscape construction capabilities, focusing on core ecological projects and expanding its EPC project model to increase order intake and improve cash flow stability[84].