KEBODA(SH:603786)2021-04-21 16:00Financial Performance - The company's operating revenue for 2020 was approximately CNY 2.91 billion, a decrease of 0.29% compared to 2019[15]. - Net profit attributable to shareholders was approximately CNY 514.68 million, an increase of 8.38% year-on-year[15]. - The net profit after deducting non-recurring gains and losses was approximately CNY 462.97 million, reflecting a 3.12% increase from the previous year[15]. - The company's total assets at the end of 2020 reached approximately CNY 4.71 billion, a growth of 19.73% compared to the end of 2019[15]. - The weighted average return on equity decreased to 14.59%, down 7.55 percentage points from 2019[16]. - The basic earnings per share for 2020 was CNY 1.2864, a slight decrease of 0.66% from the previous year[16]. - In Q4 2020, the company reported operating revenue of approximately CNY 932.46 million, the highest quarterly revenue for the year[18]. - The net cash flow from operating activities for 2020 was approximately CNY 521.41 million, a decrease of 7.30% compared to 2019[15]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 5 RMB per 10 shares to all shareholders, totaling 200,050,000 RMB (including tax) based on a total share capital of 400,100,000 shares as of December 31, 2020[3]. - The company does not plan to issue bonus shares or convert capital reserves into share capital for the year 2020[3]. - In 2020, the company distributed cash dividends of 5.0 yuan per 10 shares, amounting to a total of 200,050,000 yuan, which represents 38.87% of the net profit attributable to ordinary shareholders[73]. Audit and Compliance - The company has received a standard unqualified audit report from Zhonghua Certified Public Accountants[2]. - The company’s financial report is guaranteed to be true, accurate, and complete by its responsible persons[2]. - The company has not faced any violations in decision-making procedures for providing guarantees[4]. - The company has not reported any significant accounting errors or changes in accounting policies that would affect the financial statements[88]. - The company has committed to ensuring that executive compensation is linked to the execution of the company's performance recovery measures[86]. Market and Industry Position - The global automotive market saw a 13% decline in passenger vehicle sales in 2020, with total sales of 78.03 million units, while China's production and sales reached 25.23 million and 25.31 million units, down 2.0% and 1.9% respectively[26]. - The company has established strategic partnerships with 8 of the top 10 global automotive semiconductor companies and over 30 well-known automotive electronic component suppliers, enhancing its supply chain resources[31]. - The company has secured over 6 products for the MEB platform project with Volkswagen, which sold 420,000 electric vehicles in 2020, positioning itself for future growth in the electric vehicle market[33]. - The market for intelligent cockpit systems is projected to grow significantly, with a global market size of approximately $39.6 billion in 2020, indicating substantial future growth potential[34]. - The company maintains strong relationships with major automotive manufacturers, including Volkswagen Group, Daimler, and BMW, ensuring a stable customer base[27]. Research and Development - Research and development expenses increased by 25.49% to 240,475,000 RMB, reflecting the company's commitment to innovation and technology advancement[39]. - The company has achieved compliance with the stringent ASIL B safety standards and SPICE Level 2 audit, demonstrating its advanced R&D capabilities in automotive electronics[29]. - The company is committed to enhancing its technological capabilities, focusing on smart cockpit interaction technologies and thermal management systems for new energy vehicles[67]. - The company plans to increase R&D investment to over 300 million yuan in 2021, representing an expected growth of approximately 30% compared to the previous year[67]. Risks and Challenges - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute substantive commitments to investors, highlighting investment risks[4]. - The company is facing risks from the ongoing impact of the COVID-19 pandemic, which continues to create uncertainty in economic recovery[69]. - The global chip supply shortage, exacerbated by the pandemic and natural disasters, is expected to persist in the short term, negatively affecting the entire automotive supply chain[70]. Corporate Governance - The company has established a commitment to ensure that any share reduction by major shareholders will not occur below the issuance price and will be limited to 25% of their total shares held prior to the issuance[85]. - The company has not reported any significant risks identified by the supervisory board during the reporting period[169]. - The company has maintained a good integrity status for both itself and its controlling shareholders during the reporting period[92]. - The company has not faced any penalties from securities regulatory agencies in the past three years[156]. Social Responsibility - The company has donated a total of 19.65 million to its public welfare foundation since its establishment in 2014[118]. - The foundation has supported 24 impoverished high school students with 129,600 yuan over three years[119]. - The company donated 2 million yuan to the Wenzhou Red Cross for COVID-19 relief efforts[119]. - The company has actively engaged in social responsibility projects, including educational support and community aid[118].