BOMIN ELECTRONICS(SH:603936)2021-03-24 16:00Financial Performance - The company's operating revenue for 2020 was approximately ¥2.79 billion, representing a 4.35% increase compared to ¥2.67 billion in 2019[20]. - Net profit attributable to shareholders for 2020 was approximately ¥246.71 million, a 22.40% increase from ¥201.56 million in 2019[20]. - Basic earnings per share for 2020 increased to ¥0.55, up 19.57% from ¥0.46 in 2019[21]. - The weighted average return on equity rose to 9.36%, an increase of 0.84 percentage points from 8.52% in 2019[21]. - The company's total assets at the end of 2020 were approximately ¥5.56 billion, a 24.13% increase from ¥4.48 billion at the end of 2019[20]. - Cash flow from operating activities for 2020 was approximately ¥71.10 million, a significant decrease of 69.91% compared to ¥236.30 million in 2019[20]. - The net assets attributable to shareholders increased to approximately ¥3.50 billion, a 41.99% increase from ¥2.47 billion at the end of 2019[20]. - The total profit reached 283.14 million RMB, reflecting a growth of 22.56% compared to the previous year[56]. - The net profit attributable to shareholders was 246.71 million RMB, up 22.40% year-on-year, with a net profit excluding non-recurring gains and losses of 217.27 million RMB, increasing by 20.09%[56]. - The main business revenue increased by 136.76 million RMB, a growth of 5.33% year-on-year, while the main business cost rose by 96.14 million RMB, a 4.63% increase[58]. Dividend Policy - The company plans to distribute cash dividends of 30,469,164 RMB, with a payout of 0.6 RMB per share based on the total share capital as of the dividend record date[5]. - The company implemented a cash dividend policy, ensuring that at least 10% of the distributable profits are allocated as cash dividends each year[106]. - In 2019, the company distributed a cash dividend of 0.7 RMB per 10 shares, totaling 22,052,680 RMB, which represented 10.94% of the net profit attributable to shareholders[107]. - For 2020, the company plans to distribute a cash dividend of 0.6 RMB per 10 shares, with a total cash dividend amounting to 30,469,164 RMB[108]. - The company has a commitment to maintain a stable profit distribution policy, with a minimum cash dividend ratio of 80% during mature stages without major capital expenditures[106]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the accuracy and completeness of the financial report[4]. - The company has not faced any non-standard audit opinions from the accounting firm[129]. - The company has not faced any risks of suspension or termination of listing during the reporting period[133]. - The company guarantees that any related transactions will be conducted at fair market prices and will not harm the interests of shareholders[120]. - The company will adhere to strict regulations regarding related party transactions, ensuring no harm to shareholder interests[124]. Risk Management - The company has outlined various risks in its operations, which are detailed in the report, urging investors to pay attention to these risks[7]. - The company’s future plans and development strategies involve uncertainties and do not constitute a commitment to investors, highlighting the need for caution[6]. - The company faces risks from macroeconomic fluctuations and industry volatility, which could impact revenue and net profit if the PCB industry slows down[100]. - The company is addressing raw material price volatility by optimizing production processes and developing strategic agreements with suppliers to mitigate cost increases[101]. Research and Development - The company has established a professional team to manage outsourcing production processes when internal capacity cannot meet customer demand, ensuring quality and delivery timelines[33]. - The company has implemented an ERP system to monitor production processes, which includes modules for production planning, quality management, and cost management[33]. - The company developed 113 core products in fields such as optical modules, servers, and automotive electronics during the reporting period[43]. - The company applied for 29 patents, including 16 invention patents, and published 16 technical papers during the reporting period[43]. - The company has achieved significant progress in multiple R&D projects, including high-frequency and high-density interconnect PCBs[45]. Market Strategy - The company has increased its focus on high-value products such as 5G, automotive electronics, and customized electronic devices, enhancing its technological capabilities and product quality[32]. - The company aims to become a core value creator in the industry chain, focusing on optimizing product structure and enhancing product competitiveness[36]. - The company plans to implement a differentiated competition strategy based on the personalized needs of benchmark customers, aiming to become a trusted electronic circuit supplier[92]. - The company will enhance its production capabilities in HDI boards, flexible circuit boards, and other specialized boards to meet emerging market demands[93]. - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the industry[200]. Environmental Responsibility - The company has implemented a green manufacturing policy, achieving compliance with national pollution discharge standards for wastewater and waste gas[152]. - The company has been listed as a key pollutant discharge unit by the Meizhou Ecological Environment Bureau, with all wastewater treated to meet standards before discharge[153]. - The company has established a safety management system, conducting regular health checks and safety drills to ensure a safe working environment for employees[152]. - The company has introduced digital office systems to improve data processing efficiency and reduce paper usage, aligning with national energy-saving and environmental protection initiatives[152]. - The company has committed to continuous improvement in environmental protection standards, which may increase operational costs and impact profitability[102]. Shareholder Structure - The company’s total share capital was adjusted to 441,053,596 shares after the implementation of the profit distribution plan[174]. - The shareholding structure shows that state-owned shares account for 4.60% and other domestic shares account for 17.78%[173]. - The company’s major shareholders include individuals who had their shares released from restrictions in early 2020[174]. - The company has a diversified shareholder structure with significant stakes held by both individual and institutional investors[186]. - The company’s chairman and general manager, Xu Huan, increased his shareholding from 63,872,442 to 80,881,419 shares, a change of 17,008,977 shares due to capital reserve conversion and secondary market transactions[198]. Employee Management - The company has focused on human resource management, enhancing employee benefits and training to attract and retain talent amid rising labor costs[102]. - The company committed 1-1.5% of total employee salaries annually for training expenses, establishing a comprehensive training system to enhance employee skills and career development[149]. - The company has a strategic plan for talent development, emphasizing internal training and external recruitment to support its growth[102]. - The company’s independent directors and supervisors received total compensation ranging from 4.58 to 32.15 million yuan during the reporting period[198]. Corporate Governance - The company has confirmed that all board members attended the board meeting, ensuring governance and oversight[8]. - The board members and senior management pledge to faithfully perform their duties and protect the legal rights of all shareholders[118]. - The company’s executives are committed to maintaining the rights of all shareholders and will not engage in unfair practices that could harm the company[125]. - The company will disclose any stock reduction plans three trading days in advance, ensuring transparency[123]. - The company’s management will determine the specific personnel scope and reward distribution ratio for performance rewards[114].