HAITIAN CO.,LTD.(SH:603759)2021-04-19 16:00Financial Performance - The company's operating revenue for 2020 was RMB 850,316,022.20, representing a 24.84% increase compared to RMB 681,138,109.46 in 2019[22]. - The net profit attributable to shareholders for 2020 was RMB 174,783,596.68, a 12.69% increase from RMB 155,103,383.37 in 2019[22]. - The total assets at the end of 2020 reached RMB 4,393,931,301.96, marking a 29.71% increase from RMB 3,387,393,475.12 in 2019[23]. - The basic earnings per share for 2020 was RMB 0.75, up 13.64% from RMB 0.66 in 2019[24]. - The weighted average return on equity for 2020 was 14.78%, slightly down from 15.24% in 2019[24]. - Cash flow from operating activities for 2020 was RMB 315,588,630.48, a decrease of 14.07% compared to RMB 367,279,332.60 in 2019[22]. - The net assets attributable to shareholders at the end of 2020 were RMB 1,270,220,586.29, an increase of 15.96% from RMB 1,095,436,989.61 in 2019[23]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB, representing a 15% year-over-year growth[105]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of 1.69 CNY per 10 shares, totaling 52,728,000 CNY for the year 2020[5]. - The remaining undistributed profits amount to 285,617,880.20 CNY, which will be allocated to future distributions[5]. - The company reported a net profit of 174,783,596.68 RMB for 2020, with a cash dividend payout ratio of 30.17%[100]. Audit and Compliance - The company has received a standard unqualified audit report from the accounting firm Xin Yong Zhong He[4]. - The board of directors and senior management confirm the accuracy and completeness of the annual report[8]. - The audit report confirmed that the financial statements fairly present the financial position and results of operations for the year ended December 31, 2020[173]. - The audit firm provided a clean opinion on the financial statements, indicating no significant issues were found during the audit process[175]. - The company has maintained effective internal controls to prevent material misstatements due to fraud or error[176]. Operational Highlights - The company operates in the water supply and sewage treatment sectors, maintaining a business model that includes BOT and TOT contracts[31]. - The company has 29 subsidiaries across regions such as Sichuan, Henan, Yunnan, and Xinjiang, focusing on integrated environmental services[31]. - The company achieved a water supply volume of 75.95 million cubic meters in 2020, representing a year-on-year increase of 9.2%[44]. - The wastewater treatment settlement volume reached 231.36 million cubic meters, an increase of 3.95% compared to the previous year[44]. - The company maintained uninterrupted high-quality operation of water supply and wastewater treatment plants throughout the COVID-19 pandemic[45]. Market and Growth Strategy - The company plans to continue expanding its market presence and invest in new technologies to enhance operational efficiency[22]. - Future guidance indicates a positive outlook for revenue growth driven by increased demand in the water services sector[22]. - The company is focusing on expanding its services in emerging towns and rural water markets, indicating growth potential in these areas[36]. - The company aims to become a leading modern water service provider in Western China and one of the most influential large water enterprises in the country[91]. - The company is actively pursuing expansion strategies through new projects and acquisitions to enhance its market presence[94]. Research and Development - The total research and development expenditure was 3.64 million, representing 0.43% of the operating revenue[60]. - The company has 126 authorized patents, showcasing its strong focus on technology and innovation in wastewater treatment[42]. - The company is investing 50 million RMB in R&D for new technologies aimed at improving service delivery[112]. Environmental and Social Responsibility - The company has been focusing on sustainable development and environmental protection initiatives in its operations[22]. - The company donated RMB 3 million to support pandemic prevention efforts, recognized as a "Most Caring Enterprise" by local Red Cross organizations[119]. - The company contributed RMB 500,000 to educational poverty alleviation initiatives in Luohuo County[120]. - The company has established emergency response plans for environmental incidents and conducts regular drills[124]. - The company actively engages in social responsibility initiatives, including donations and support for local communities[119]. Shareholder and Governance - The total number of ordinary shares remained unchanged during the reporting period[129]. - The top ten shareholders hold a total of 171,297,230 shares, representing 73.20% of the total shares[133]. - The company has a diverse board with members holding various positions in other organizations, enhancing its governance structure[149]. - The management team includes individuals with extensive experience in environmental protection and engineering, contributing to the company's strategic direction[150]. - The company has committed to avoiding competition with its controlling shareholder and ensuring fair pricing in related transactions[161]. Financial Position - Total assets increased to CNY 4,393,931,301.96 in 2020, up from CNY 3,387,393,475.12 in 2019, representing a growth of approximately 29.6%[183]. - Total liabilities reached CNY 3,007,031,777.09, up from CNY 2,187,051,561.43, indicating an increase of approximately 37.5%[184]. - Shareholders' equity rose to CNY 1,386,899,524.87, compared to CNY 1,200,341,913.69 in 2019, which is an increase of about 15.5%[184]. - Cash and cash equivalents amounted to CNY 261,059,881.48, an increase from CNY 122,606,999.80 on December 31, 2019[182].