NANCAL(SH:603859)2021-04-28 16:00Financial Performance - The company's operating revenue for 2020 was CNY 951,907,666.70, representing a 24.30% increase compared to CNY 765,796,773.74 in 2019[22]. - The net profit attributable to shareholders for 2020 was CNY 120,153,193.24, a 33.35% increase from CNY 90,105,284.81 in 2019[22]. - The net cash flow from operating activities increased by 108.34% to CNY 78,519,568.58 in 2020, compared to CNY 37,688,029.80 in 2019[22]. - The total assets at the end of 2020 were CNY 1,955,766,207.02, an 8.35% increase from CNY 1,805,120,621.79 at the end of 2019[22]. - The basic earnings per share for 2020 was CNY 0.86, up 17.81% from CNY 0.73 in 2019[23]. - The company achieved a total revenue of 951.91 million yuan in 2020, representing a year-on-year growth of 24.30%[46]. - The net profit attributable to shareholders reached 120.15 million yuan, an increase of 33.35% compared to the previous year[46]. - The smart manufacturing business generated revenue of 776.56 million yuan, accounting for 81.58% of total revenue, with a growth of 37.23% year-on-year[47]. Risk Management - The company emphasizes the importance of risk awareness in its forward-looking statements regarding future plans and strategies[6]. - The company has a comprehensive risk factor description in the report's section on operational discussion and analysis[7]. - The company has confirmed that there are no violations in decision-making procedures for external guarantees[7]. - The company faces risks from macroeconomic fluctuations, policy changes, and intensified market competition[85]. Governance and Compliance - The company has committed to maintaining transparency and accountability in its financial reporting and governance practices[8]. - The company guarantees the authenticity, accuracy, and completeness of the information provided for the transaction, assuming individual and joint liability for any false records or misleading statements[94]. - The company has committed to fulfilling its disclosure and reporting obligations, ensuring no undisclosed contracts or agreements exist[95]. - The company has ongoing commitments related to share lock-up periods, with some commitments lasting up to 36 months from the date of share issuance[93]. - The company has outlined specific timelines for the fulfillment of commitments, emphasizing accountability and transparency in its operations[92]. Research and Development - The company plans to enhance its research and development investments to support the construction of productivity platforms and data asset platforms[36]. - The company’s R&D expenses rose by 36.84% to ¥94,334,875.73, indicating a strong commitment to innovation and technology development[54]. - Total R&D expenditure reached ¥227,751,202.22, accounting for 23.93% of operating revenue[64]. - The company has established a strong talent pool and training system to support its growth and maintain its competitive edge in the industrial internet sector[40]. Shareholder Relations - The company will not distribute profits for the 2020 fiscal year due to the approval of a non-public offering by the China Securities Regulatory Commission, focusing on long-term development and shareholder interests[5]. - The cash dividend policy mandates a minimum of 20% of the annual profit to be distributed as cash dividends when conditions are met[89]. - The company has not proposed a cash dividend distribution plan despite having positive profits, indicating a potential reinvestment strategy[92]. - The company has a differentiated cash dividend policy based on its development stage and capital expenditure plans[111]. Market Strategy - The company is focused on integrating IoT technologies to break down barriers between independent subsystems and enhance data fusion across various value chains[79]. - The company aims to establish a leading position in intelligent manufacturing systems for discrete manufacturing industries in the short term[82]. - The company plans to accelerate the development of productivity platforms, data asset platforms, and cloud service platforms for SMEs[83]. - The company is actively developing three major projects: a cloud-native productivity platform, an industrial innovation service cloud for SMEs, and a data asset platform for industrial big data applications[49]. Audit and Financial Reporting - The company has received a standard unqualified audit report from Tianyuan Certified Public Accountants[4]. - The internal control audit report issued by Tianyuan Quan Accounting Firm provided a standard unqualified opinion, confirming the effectiveness of internal controls[170]. - The company has not reported any significant accounting errors or changes in accounting policies during the reporting period[115]. Employee and Management Structure - The total number of employees in the parent company and major subsidiaries is 849, with 102 in the parent company and 747 in subsidiaries[155]. - The company has a structured process for determining the remuneration of its board members and senior management[152]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period was 5.4669 million yuan[152]. - The company has implemented a performance-based compensation system for all employees, aligning incentives with company performance[169].