Shenli(SH:603819)2021-04-28 16:00Financial Performance - In 2020, the company's operating revenue was CNY 941,074,428.71, a decrease of 14.62% compared to CNY 1,102,166,833.34 in 2019[20] - The net profit attributable to shareholders of the listed company was CNY 15,076,777.18, down 84.16% from CNY 95,171,265.98 in the previous year[20] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 9,247,572.28, a decrease of 62.72% from CNY 24,807,692.37 in 2019[20] - Basic earnings per share decreased by 84.09% to CNY 0.07 in 2020 from CNY 0.44 in 2019[22] - The weighted average return on equity fell by 10.37 percentage points to 1.94% in 2020 from 12.31% in 2019[22] - The company achieved operating revenue of ¥941,074,428.71, a year-on-year decrease of 14.62%[47] - The net profit attributable to shareholders was ¥15,076,777.18, down 84.16% year-on-year[47] - The company's net assets attributable to shareholders decreased by 3.99% to ¥746,623,041.11[47] Cash Flow and Dividends - The net cash flow from operating activities was CNY 151,218,810.30, compared to a negative cash flow of CNY -12,508,185.59 in 2019[20] - The company proposed a cash dividend of CNY 0.21 per 10 shares for the year 2020, subject to the total number of shares on the dividend record date[5] - The company distributed cash dividends totaling CNY 49,437,167.40, with a payout of CNY 3 per 10 shares to shareholders[149] - In 2020, the company did not distribute any cash dividends, while in 2019, it distributed approximately 54.99 million RMB, representing 57.78% of the profits[117] Assets and Liabilities - As of the end of 2020, the total assets amounted to CNY 1,366,667,457.99, an increase of 20.26% from CNY 1,136,381,480.66 at the end of 2019[20] - The company's total assets rose from CNY 1,136,381,480.66 to CNY 1,366,667,457.99, while total liabilities increased from CNY 358,757,489.33 to CNY 620,044,416.88, resulting in an increase in the asset-liability ratio from 31.57% to 45.37%[156] Operational Challenges - The company experienced a decline in sales revenue due to delayed orders and a decrease in sales volume of key products[22] - The new production base has led to increased annual depreciation, contributing to the decline in net profit[22] - Sales of rotor stamping sheets and iron cores decreased, contributing to the overall decline in revenue[51] - The company recognizes the risk of declining operating performance due to fluctuations in market demand and raw material prices[97] - The company faces risks related to customer concentration, as major clients are in cyclical industries[99] - The company relies on a limited number of suppliers for its main raw material, silicon steel, which poses procurement risks[100] Research and Development - Research and development expenses increased by 25.24% to ¥8,780,957.64, reflecting a focus on innovation[49] - The company has a well-established R&D management system, collaborating with research institutions to enhance product development and technological capabilities[37] - The company is focused on developing new products and technologies to strengthen its market position[91] - The company emphasizes the need for continuous technological innovation to maintain its core competitiveness in a rapidly evolving market[104] Market Position and Strategy - The company specializes in the R&D, production, and sales of motor components, including stators, rotor stamping, and cores[33] - The main products are used in various applications, including diesel generators and wind power generators, highlighting the company's market focus[34] - The company is positioned as a professional service provider in the motor component manufacturing sector, integrating R&D, design, production, and sales[33] - The company has built strong partnerships with leading motor manufacturers such as Cummins, ABB, and Siemens, enhancing its brand image and market presence[42] - The company anticipates a trend towards intelligent and modular electric motor systems, integrating diagnostic and control functions[82] Compliance and Governance - The company has received a standard unqualified audit report from Zhonghua Accounting Firm[4] - The company has established a structured decision-making process for profit distribution, requiring approval from the board and independent directors[108] - The company has committed to ensuring the accuracy and completeness of its prospectus, taking legal responsibility for any false statements or omissions[124] - The company has a governance structure that complies with relevant laws and regulations, ensuring effective decision-making and management[186] Shareholder Information - The largest shareholder, Chen Zhongwei, holds 78,818,103 shares, representing 36.20% of the total shares[160] - The total number of ordinary shares increased from 168,314,860 to 217,730,187 during the reporting period, reflecting a capital reserve conversion and share buyback[156] - The total shares held by Chairman Chen Zhongwei increased from 71,328,600 to 78,818,103, reflecting a change of 7,489,503 shares due to capital reserve transfer and reduction[172] Environmental and Social Responsibility - The company actively fulfilled social responsibilities, contributing to charity and participating in public welfare activities[142] - The company complied with environmental protection laws and regulations, achieving ISO14001:2004 certification[143] - The company has not experienced any environmental pollution incidents during the reporting period, adhering to established environmental protection protocols[144] Future Outlook - In 2021, the company aims for a sales revenue target of 1,122.3 million yuan[90] - The company plans to enhance customer acquisition and increase production capacity utilization[90] - Future guidance indicates a focus on improving operational efficiency, aiming for a 5% reduction in operational costs by the end of the fiscal year[130]