RTGF(SH:605133)2021-04-27 16:00Financial Performance - The company reported a distributable profit of CNY 519,248,856.00 as of December 31, 2020, with a proposed cash dividend of CNY 4,000,000.00 (CNY 2.50 per 10 shares) for all shareholders[5]. - The company's operating revenue for 2020 was approximately ¥991.13 million, a slight increase of 0.03% compared to ¥990.87 million in 2019[22]. - The net profit attributable to shareholders decreased by 19.28% to ¥127.79 million from ¥158.30 million in 2019[22]. - The basic earnings per share for 2020 was ¥1.06, down 19.70% from ¥1.32 in 2019[23]. - The weighted average return on equity decreased by 7.76 percentage points to 15.92% in 2020 from 23.68% in 2019[23]. - The company's total assets at the end of 2020 were approximately ¥1.62 billion, reflecting a 5.28% increase from ¥1.54 billion at the end of 2019[22]. - Operating profit decreased by 18.49% to ¥154,154,484.60, while net profit fell by 19.28% to ¥127,785,077.21[41]. - The total assets increased by 5.28% compared to the beginning of the year, with overseas assets accounting for 22.68% of total assets[35]. - The company reported a total revenue of 23,222.70 million yuan and a net profit of 1,476.68 million yuan for the year 2020[77]. - The company’s revenue for the reporting period was 991.16 million yuan, showing a slight growth trend[88]. Cash Flow and Investments - The net cash flow from operating activities increased by 34.87% to ¥277.52 million, primarily due to tax refunds and overdue customer payments[22][24]. - Cash and cash equivalents increased by 81.95% to CNY 96,623,743.44, compared to CNY 53,104,818.28 in the previous period[63]. - The company received CNY 30,344,130.10 in tax refunds, significantly higher than CNY 5,699,816.39 in 2019, showing an increase of 432.5%[194]. - The company raised CNY 587,330,230.00 through borrowings in 2020, compared to CNY 478,917,400.00 in 2019, indicating an increase of 22.7%[195]. - The net cash flow from investing activities was -$81.07 million, an improvement from -$149.87 million in 2019[198]. Research and Development - Research and development expenses increased by 5.13% to ¥39,669,916.44, reflecting the company's commitment to innovation[49]. - The total R&D expenditure was ¥39.67 million, accounting for 4.00% of total revenue, with no capitalized R&D expenses[60]. - The company plans to increase R&D investment and strengthen technological innovation over the next two to three years[81]. Market and Industry Trends - The automotive industry is experiencing a significant trend towards energy conservation and environmental protection, impacting market dynamics[69]. - The market for new energy vehicles continues to grow rapidly, driven by policy support and technological innovation[71]. - The aluminum die-casting industry reported revenue of ¥974.22 million, with a gross margin of 32.47%, a decrease of 2.94 percentage points compared to the previous year[52]. - The automotive parts die-casting industry in China is characterized by low concentration, with major players being either supporting enterprises or independent precision die-casting manufacturers[78]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Zhonghui Certified Public Accountants[4]. - The company has ensured the accuracy and completeness of the annual report, with all board members present at the meeting[8]. - The company has not faced any risks of suspension or termination of its listing[106]. - The independent directors accounted for one-third of the board, ensuring compliance with legal and regulatory requirements[153]. - The company has implemented strict information disclosure practices to protect the rights of all shareholders[152]. Shareholder Information - The top shareholder, Zhuhai Runcheng Investment Co., Ltd., holds 60.94% of the shares[121]. - The company has a cash dividend policy that mandates at least 10% of distributable profits be paid out as cash dividends if the company is profitable[94]. - Sales to the top five customers accounted for 85.71% of the company's total revenue in 2020, indicating a high customer concentration risk[87]. Operational Efficiency - The company has optimized its organizational structure, enhancing management functions and improving production efficiency[43]. - The production model is based on "sales-driven production," ensuring alignment with customer demand[32]. - The company maintains strict supplier evaluation and procurement processes to ensure the quality of raw materials[32]. Employee and Management Information - The total number of employees in the parent company is 581, while the total number of employees in major subsidiaries is 1,441, resulting in a combined total of 2,022 employees[145]. - The total compensation for the current and departing directors and senior management during the reporting period amounted to CNY 455.58 million[135]. - The company has established a comprehensive training management system, including various training programs such as onboarding, professional skills, and legal regulations[148]. Risk Management - There are no significant risks that materially affect the company's operations during the reporting period[7]. - The company emphasizes the importance of risk awareness in future planning and investment decisions[6]. - The company faces risks from fluctuations in aluminum alloy ingot prices, which directly impact production costs[89].