Chunqiu ET(SH:603890)2021-03-30 16:00Dividend and Profit Distribution - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares to all shareholders, with a total of 68,760 shares to be repurchased and canceled, not participating in this distribution[5]. - The company has maintained a stable profit distribution policy, focusing on reasonable returns to investors while ensuring sustainable development[89]. - The company commits to ensuring that the profit distribution policy prioritizes reasonable returns to investors, with a minimum of 10% of distributable profits allocated for cash dividends annually[107]. - In the case of significant capital expenditures, the company will ensure that cash dividends account for at least 40% of the profit distribution during the mature phase[108]. - The company will implement a cash dividend policy that prioritizes cash over stock dividends, ensuring that cash dividends are distributed first when conditions are met[107]. - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares, amounting to a total of 77,973,278.60 RMB, based on a total share count of 389,866,393 shares[89]. Financial Performance - The company's operating revenue for 2020 was approximately ¥3.58 billion, representing a 77.36% increase compared to ¥2.02 billion in 2019[21]. - Net profit attributable to shareholders was approximately ¥246.47 million, up 58.17% from ¥155.83 million in 2019[21]. - Basic earnings per share increased to ¥0.65, a rise of 58.54% from ¥0.41 in 2019[22]. - The weighted average return on equity rose to 14.95%, an increase of 4.25 percentage points compared to 10.70% in 2019[22]. - Total assets at the end of 2020 reached approximately ¥4.28 billion, a 47.73% increase from ¥2.90 billion at the end of 2019[21]. - The gross margin for the main business decreased by 1.26 percentage points to 17.67%[53]. - The company achieved a total revenue of RMB 3,581.70 million in the reporting period, representing a year-on-year increase of 77.36%[47]. - Net profit for the year was RMB 246.47 million, reflecting a year-on-year growth of 58.17%[47]. Risks and Compliance - The company has detailed potential risks in the "Discussion and Analysis of Operating Conditions" section of the annual report[7]. - The company faces risks from market competition, particularly from both international and domestic competitors in the consumer electronics sector[82]. - The company is exposed to foreign exchange risks, particularly from fluctuations in the USD/RMB exchange rate, which can impact both sales revenue and procurement costs[85]. - The company has a strategy to hedge against foreign exchange risks by increasing USD payments and engaging in forward foreign exchange contracts[85]. - The company has acknowledged the existence of unpaid social insurance and housing fund contributions and the actual controller has committed to bear any penalties or repayment obligations[116]. - The company has not reported any instances of fund occupation or collection progress during the reporting period[122]. Corporate Governance - The company has confirmed that all board members attended the board meeting[8]. - The board of directors will link the compensation system for executives to the execution of profit compensation measures[104]. - The company has established a competitive and internally motivating compensation system, adjusting salaries based on market research and analysis annually[190]. - The company ensures equal rights for all shareholders, particularly minority shareholders, and maintains transparent communication regarding company operations[194]. - The company has implemented a performance evaluation and incentive mechanism for middle and senior management, with evaluations conducted by the HR department and the compensation committee[195]. - The company has maintained a good integrity status for both itself and its controlling shareholders during the reporting period[126]. Market and Client Relationships - The company focuses on providing precision structural components and molds for consumer electronics, primarily for laptop manufacturers[31]. - The main clients for the company's precision molds include major brands such as Lenovo and Samsung[32]. - The company has established long-term stable business relationships with major clients such as Lenovo, Samsung, HP, and Dell, and is actively expanding its customer base[42]. - The company's market share in the global notebook structure component market increased from 6.32% before its IPO to approximately 10% in 2020, with a target to exceed 20% in the next three to five years[42]. - The market for notebook computer structural components is anticipated to grow as the market recovers, driven by new demands for lightweight and functional designs[77]. Research and Development - Research and development expenses rose by 33.98% to RMB 126.76 million, aimed at enhancing market competitiveness[54]. - The company completed nine R&D projects, including new technologies for laptop structural modules and motherboard testing interfaces[64]. - The company will enhance R&D efforts and capital investment in precision mold manufacturing and metal processing technologies to improve product quality and reduce manufacturing costs[80]. - The company is committed to developing high-value-added products such as magnesium-aluminum components and carbon fiber materials[80]. Environmental Compliance - The company is classified as a key pollutant discharge unit and complies with environmental protection regulations[140]. - The company has implemented 11 pollution control facilities, including 5 sets of light-oxygen activated carbon integrated machines, which are operating normally and meeting standards[143]. - The total hazardous waste discharged by Hefei Jingwei was 321.015 tons, which is within the approved limit of 335 tons[141]. - The company has established a total of 6 emergency response plans for environmental incidents, in compliance with national and local regulations[146]. Shareholder and Stakeholder Engagement - The company has established a good communication mechanism with investors through various channels[139]. - The company actively participates in social responsibility initiatives and aims for harmonious development with stakeholders[139]. - The company has not engaged in insider trading activities during the reporting period, adhering to regulations on insider information management[196]. - The company provides various employee benefits, including insurance and health check-ups, to enhance employee satisfaction and retention[190].