JSSMDL(SH:603530)2021-03-29 16:00Financial Performance - The company's operating revenue for 2020 was RMB 662,973,845.22, representing a 5.44% increase compared to RMB 628,744,707.16 in 2019[25]. - The net profit attributable to shareholders for 2020 was RMB 130,699,588.58, which is a 2.71% increase from RMB 127,245,396.11 in 2019[25]. - The net profit after deducting non-recurring gains and losses was RMB 120,469,617.75, up 3.09% from RMB 116,855,688.91 in 2019[25]. - The net cash flow from operating activities decreased by 18.99% to RMB 98,312,871.91 from RMB 121,357,814.40 in 2019[25]. - The total assets at the end of 2020 were RMB 1,379,980,029.69, a 1.53% increase from RMB 1,359,132,452.60 at the end of 2019[25]. - The net assets attributable to shareholders increased by 3.97% to RMB 1,118,012,565.20 from RMB 1,075,322,764.42 at the end of 2019[25]. - The basic earnings per share for 2020 was RMB 0.33, a decrease of 2.94% compared to RMB 0.34 in 2019[26]. - Diluted earnings per share (EPS) decreased by 2.94% to CNY 0.33 compared to the previous quarter[29]. - Basic EPS excluding non-recurring gains and losses decreased by 3.23% to CNY 0.30 compared to the previous quarter[29]. - Weighted average return on equity (ROE) decreased by 2.23 percentage points to 12.08% compared to the previous quarter[29]. - Net profit attributable to shareholders for Q4 2020 was CNY 34,749,766.04, a decrease from Q3 2020's CNY 38,994,342.33[30]. - Total operating revenue for Q4 2020 was CNY 205,131,123.46, showing an increase from Q3 2020's CNY 171,003,689.51[30]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 1.30 per 10 shares, totaling approximately RMB 52,005,783.70[7]. - In 2020, the company distributed cash dividends of RMB 2.20 per 10 shares, totaling RMB 88,009,787.80, which accounted for 69.17% of the net profit attributable to shareholders[150]. - The proposed cash dividend for 2020 is RMB 1.30 per 10 shares, with an expected total distribution of RMB 52,005,783.70[150]. - The cash dividend per 10 shares was RMB 1.30 in 2020, down from RMB 2.20 in 2019[151]. - The company did not propose any cash profit distribution plan for the reporting period despite having positive distributable profits[154]. - The company did not distribute any dividends in 2018, with a net profit of ¥121,554,075.66[151]. Research and Development - The company is actively involved in technology innovation collaborations with major clients and research institutions, enhancing its R&D capabilities[58]. - The company aims to leverage its R&D and manufacturing advantages to develop innovative products that address industry challenges, enhancing the reliability and economic efficiency of power systems[119]. - The company plans to implement a comprehensive upgrade of its R&D capabilities, focusing on new materials and technologies to ensure the safety and economic operation of power systems[125]. - Research and development expenses totaled ¥28,358,856.96, which is 4.28% of operating revenue, with 151 R&D personnel making up 12.60% of the total workforce[90]. - The company applied for 92 patents during the reporting period, with 64 new patents granted[70]. - As of December 31, 2020, the company holds 267 domestic patents and 54 international patents, showcasing its commitment to innovation[58]. Market Position and Strategy - The company is a leading manufacturer of composite insulators and rubber sealing components for power systems, with no significant changes in its main business during the reporting period[40]. - Major domestic clients include State Grid, Southern Power Grid, and large power equipment manufacturers, with international clients like ABB, GE, and Siemens[45][47]. - The company has established a strategic partnership with GE Group and is in the process of supply certification with Siemens and ABB[113]. - The company has built strong relationships with over 1,000 clients, including major domestic and international electrical equipment suppliers[62]. - The company recognizes the risk of market competition and plans to leverage digital factories to maintain its industry position and market share[138]. - The strategic plan includes expanding domestic and international market shares through enhanced marketing capabilities and channel development, with a focus on collaborative growth across product lines[124]. Operational Efficiency - The company has established a comprehensive production management system, integrating various management information systems to ensure high-quality and efficient operations[44]. - The company implemented a comprehensive management consulting project to enhance operational efficiency and management effectiveness[70]. - The company will enhance its operational management capabilities over the next three years through business consulting, customer-centric process reengineering, system optimization, and talent acquisition and development[132]. - The company aims to deepen its LTC process and improve its CRM system, as well as optimize its IPD process and enhance its PLM system[132]. Financial Management - The company aims to improve its financial management capabilities and reduce accounts receivable risks through customer classification and active collection efforts[143]. - The company's cash and cash equivalents decreased by 33.53% to ¥226,801,512.75, primarily due to increased investments in financial products[96]. - The company faced a tax rate increase from 15% to 25% due to the failure to renew its high-tech enterprise status, impacting profits by ¥18,002,400, which is 10.25% of total profits[92]. - The company will adopt various hedging strategies to mitigate foreign exchange risks associated with its exports[144]. Corporate Governance - The company has committed to measures to avoid competition and regulate related transactions as part of its corporate governance[161][162]. - The company has made commitments regarding the stabilization of stock prices within three years post-IPO[159]. - The company has outlined plans for filling the dilution of immediate returns due to stock issuance[160]. - The company maintained good integrity status, with no records of failing to fulfill court judgments or significant debts due[173]. - The company has no major litigation or arbitration matters during the reporting period[173]. Social Responsibility - The company donated RMB 1 million to the Nantong COVID-19 prevention command and RMB 100,000 to the Rugao COVID-19 prevention command during the reporting period[188]. - The company provided assistance of 42,000 yuan to employees in need and donated 341,300 yuan to the Rugao Charity Foundation for medical aid to families in difficulty[189].