HJT(SH:603577)2021-03-30 16:00Financial Performance - The company's operating revenue for 2020 was approximately ¥1.94 billion, representing a 19.70% increase compared to ¥1.62 billion in 2019[21]. - The net profit attributable to shareholders for 2020 was approximately ¥106 million, an increase of 79.52% from ¥59 million in 2019[21]. - The net assets attributable to shareholders at the end of 2020 were approximately ¥1.35 billion, reflecting an 8.61% increase from ¥1.24 billion at the end of 2019[22]. - The total assets as of the end of 2020 were approximately ¥2.57 billion, a 3.38% increase from ¥2.49 billion at the end of 2019[22]. - The company's basic earnings per share increased by 59.34% to CNY 0.3676 compared to the previous year[23]. - Net profit attributable to shareholders rose by 79.52% year-on-year, driven by a 19.70% increase in operating revenue[23]. - The company achieved operating revenue of CNY 1,937.06 million, an increase of 19.70% compared to the previous year, with a net profit attributable to shareholders of CNY 105.97 million, up 79.52% year-on-year[52]. - The company's net cash flow from operating activities was negative CNY 64.38 million, compared to negative CNY 10.27 million in the previous year[59]. Dividend Policy - The company plans to distribute a cash dividend of ¥1.11 per 10 shares, totaling approximately ¥31.99 million, which accounts for 30.20% of the net profit for 2020[6]. - The company's cash dividend for 2019 was 0.88 CNY per 10 shares, amounting to approximately 18.12 million CNY, representing 30.70% of the net profit attributable to shareholders[128]. - The company reported a net profit attributable to ordinary shareholders of RMB 31,997,774.09 for the year 2020, representing a profit distribution ratio of 30.20%[131]. Market and Sales Performance - Total sales volume increased by 19.58%, with a significant rise in angle steel tower sales by 39.65%[23]. - The sales volume for angle steel towers was 181,851.61 tons, a year-over-year increase of 39.65%, while sales of steel pipe towers decreased by 19.92% to 48,052.41 tons[57]. - The average selling price of products increased by 1.22%, with angle steel tower prices up by 3.65%[24]. - The company's foreign sales revenue was CNY 33.03 million, accounting for 1.82% of total operating revenue, indicating a relatively small contribution[65]. Operational Efficiency - Operating costs rose by 23.55%, primarily due to increased contract costs associated with expanded sales volume[24]. - The gross profit margin for main business decreased by 2.52 percentage points to 15.17%[25]. - The company has implemented a lean management approach, improving production efficiency and reducing costs through various technological upgrades and innovations[53]. - The company has adopted a "sales-driven production" model, ensuring production plans are aligned with customer contracts[40]. Research and Development - Research and development expenses amounted to 69,677,161.45 yuan, representing 3.60% of total operating revenue[73]. - The company has obtained 49 national patents and participated in the revision of several industry standards, enhancing its technological innovation capabilities[48]. - The company is committed to upgrading its manufacturing capabilities through the implementation of smart factory initiatives, which will reduce operational costs and enhance production efficiency[120]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in its annual report[7]. - The company has implemented measures to mitigate raw material price fluctuation risks, including establishing price linkage mechanisms with customers and signing price lock agreements with suppliers[124]. - The company faces challenges in financing, limiting its ability to invest in technology R&D and equipment upgrades, which affects high-end iron tower production capacity[101]. Corporate Governance - The company has committed to avoiding any form of related party transactions that could harm shareholder interests[138]. - The company guarantees the establishment of an independent financial department and accounting system, ensuring independent financial decision-making[134]. - The company has pledged to maintain the independence of its business operations, ensuring it has the necessary assets, personnel, and capabilities to operate independently in the market[134]. Environmental Responsibility - The company has reported a total pollutant discharge that complies with environmental standards, with no exceedances noted in key pollutants such as hydrochloric acid and particulate matter[168]. - The company has established an environmental management system and received approval for its environmental impact assessment from the Jiaozhou Environmental Protection Bureau[171]. - The company’s production wastewater is recycled and not discharged externally, while domestic wastewater is managed through a municipal sewage system[170]. Strategic Initiatives - The company is expanding its international market presence, particularly in countries like Pakistan, through local tender participation[39]. - The company plans to enhance its market presence by optimizing domestic markets and expanding into international markets, aiming for balanced growth across sales regions[119]. - The company is set to leverage the "new infrastructure" initiative to drive strategic opportunities in the power sector, focusing on smart power plants and intelligent grid technologies[115].