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君禾股份(603617) - 2020 Q4 - 年度财报
JunheJunhe(SH:603617)2021-04-27 16:00

Financial Performance - The company's operating revenue for 2020 was approximately ¥738.1 million, representing a year-over-year increase of 9.72% compared to ¥672.7 million in 2019[22]. - Net profit attributable to shareholders for 2020 was approximately ¥97.3 million, a significant increase of 29.66% from ¥75.0 million in 2019[22]. - The net cash flow from operating activities increased by 97.93% to approximately ¥136.5 million, compared to ¥68.9 million in the previous year[25]. - Total assets grew by 47.56% year-over-year, reaching approximately ¥1.35 billion, up from ¥912.5 million in 2019[24]. - The basic earnings per share for 2020 was ¥0.49, reflecting an increase of 28.95% from ¥0.38 in 2019[23]. - The diluted earnings per share for 2020 was ¥0.46, which is a 21.05% increase compared to ¥0.38 in 2019[24]. - The weighted average return on equity increased to 14.67% in 2020, up from 13.48% in 2019, marking an increase of 1.19 percentage points[24]. - The total profit amounted to 111.67 million RMB, with a year-on-year increase of 27.98%[68]. - The company achieved operating revenue of 738.10 million yuan, a year-on-year increase of 9.72%[56]. - The company reported a significant increase in sales collections, tax refunds, and government subsidies contributing to the cash flow growth[25]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 3.00 per 10 shares, totaling RMB 59,838,062.10 (including tax) based on a total share capital of 199,460,207 shares as of December 31, 2020[5]. - The company distributed a cash dividend of ¥1.60 per 10 shares to shareholders, along with a capital reserve increase of 4 shares for every 10 shares held[25]. - The cash dividend for 2020 was set at 3.00 CNY per share, with a total distribution of 59,838,062.10 CNY, representing 61.49% of the net profit attributable to shareholders[140]. - The company has established a profit distribution policy ensuring that cash dividends will not be less than 10% of the distributable profits each year[136]. - For the period from 2019 to 2021, the company plans to distribute cash dividends totaling no less than 30% of the average annual distributable profits over the three years[138]. - The company prioritizes cash dividends over stock dividends when conditions for cash distribution are met[136]. Audit and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[4]. - The company has confirmed that all directors attended the board meeting, ensuring accountability for the report's accuracy[3]. - The company has not disclosed any significant risks that could affect the authenticity and completeness of the annual report[8]. - The company has ensured that its financial statements accurately reflect its financial status and comply with relevant laws and regulations[172]. - The company has not faced any risks of suspension or termination of its listing during the reporting period[179]. Market Position and Strategy - The company is a leading domestic manufacturer of household water pumps, focusing on R&D, design, manufacturing, and sales since its establishment in 2003, with over 800 product specifications[34]. - The company ranked 3rd in export delivery value in 2016 and 2nd in 2017 and 2018, establishing itself as a leading exporter in the household water pump industry[34]. - The company maintains a high export ratio of over 98%, primarily utilizing ODM and OEM sales models for international markets[38]. - The company plans to expand its product offerings by developing new generation household and agricultural pumps, leveraging its technological and brand advantages[39]. - The company has established long-term cooperative relationships with major suppliers to ensure the quality and stability of material supply[36]. - The company aims to enhance its production efficiency and product quality to become a globally recognized brand in the household pump industry[115]. Research and Development - The company invested 27.44 million RMB in R&D, marking a 26.22% increase from the previous year[70]. - The company holds 195 domestic patents and 22 foreign patents, demonstrating strong R&D capabilities and innovation in the household water pump sector[51]. - The company is increasing its R&D investment to improve its independent innovation capabilities and develop smart, modular, and portable pump products[118]. - The company has committed to ensuring that its compensation system is linked to the execution of recovery measures[159]. Related Party Transactions - The company has ensured that there are no undisclosed related party transactions that should be disclosed according to laws and regulations[146]. - The company will avoid related party transactions as much as possible, and any unavoidable transactions will be conducted on an equal and voluntary basis at fair market prices[146]. - The company has committed to avoiding any related party transactions that could harm its interests, ensuring compliance with regulatory requirements[162]. Risk Management - The report includes a risk statement regarding forward-looking statements, emphasizing that future plans do not constitute a substantive commitment to investors[6]. - The company has not violated decision-making procedures for external guarantees[7]. - There are no non-operating fund occupations by controlling shareholders or related parties reported[7]. - The company has committed to maintaining sufficient statutory reserves and surplus reserves before distributing dividends[146]. Corporate Governance - The company has established a plan to stabilize its stock price if it falls below 120% of the net asset value per share for five consecutive trading days[148]. - The controlling shareholders and senior management are required to actively cooperate with the stabilization plan and ensure compliance with regulations[149]. - The company has issued commitments to avoid any competition with its own business by its controlling shareholders and senior management[159]. Social Responsibility - The company emphasizes its commitment to social responsibility, aligning with international standards from Europe, North America, and Australia[199]. - The company actively supports local economic development through job creation and compliance with tax regulations[200]. - The company engages in various social responsibility initiatives, including poverty alleviation and educational development[200].