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, which is 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 increased to RMB 1,270,220,586.29, a 15.96% rise from RMB 1,095,436,989.61 in 2019[23]. - The company reported a net profit of CNY 18,019.98 million, reflecting a year-on-year growth of 13.27%[50]. - The company reported a total revenue of 424,000 RMB for the audit period, with the domestic accounting firm being Xinyong Zhonghe Accounting Firm[112]. 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 the year 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]. - There are no significant accounting errors or changes in accounting policies reported, maintaining consistency in financial reporting[111]. - The audit report confirms 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 audit opinion, indicating no significant issues were found during the audit process[173]. Operational Highlights - The company operates in the water supply and sewage treatment sectors, maintaining a focus on environmental services across multiple provinces including Sichuan, Henan, Yunnan, and Xinjiang[31]. - The company achieved a water supply volume of 75.95 million cubic meters in 2020, representing a year-on-year growth 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 has 29 subsidiaries engaged in water supply and sewage treatment, utilizing various business models such as BOT and TOT[31]. Strategic Initiatives - The company plans to continue expanding its market presence and invest in new technologies to enhance operational efficiency[22]. - The company is focusing on mergers and acquisitions to increase industry concentration and enhance service capabilities in the environmental sector[36]. - The company aims to expand its market presence through strategic partnerships and investments in advanced environmental technologies[34]. - The company is committed to technological innovation, collaborating with top universities and utilizing its national-level research platforms to enhance its industry influence[93]. 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[120]. - The company contributed RMB 500,000 to educational poverty alleviation initiatives in Luohuo County[119]. - The company has established emergency response plans for environmental incidents and conducts regular drills[124]. Governance and Management - The company has implemented a comprehensive internal control system to improve governance and operational standards[44]. - The company has established measures to reduce and regulate related party transactions, enhancing transparency and governance[108]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 6.866 million yuan[151]. - The company has independent directors serving in various capacities across multiple organizations[150]. Market Conditions and Challenges - The regulatory environment for the environmental protection industry is becoming stricter, presenting opportunities for companies to enhance their competitiveness and market presence[34]. - The company faces increased operational costs due to rising labor, electricity, and raw material prices, which may affect gross profit margins if price adjustments are delayed[96]. - The overall wastewater treatment rate in urban areas is reported at 96.81%, indicating a stable market environment for the company[89]. - The company acknowledges the potential impact of national environmental and macroeconomic policy changes on its operations and market conditions[95].