华达新材(605158) - 2020 Q4 - 年度财报

Financial Performance - In 2020, the company achieved a net profit attributable to shareholders of RMB 275,212,693.01, an increase of 43.87% compared to 2019[5]. - The company's operating revenue for 2020 was RMB 6,100,999,980.93, reflecting an 11.26% growth from RMB 5,483,573,873.31 in 2019[22]. - The net cash flow from operating activities increased by 122.84% to RMB 381,335,333.15 in 2020, up from RMB 171,125,745.35 in 2019[22]. - The total assets of the company reached RMB 2,572,983,379.64 at the end of 2020, a 47.80% increase from RMB 1,740,835,410.84 in 2019[23]. - The company's net assets attributable to shareholders increased by 109.07% to RMB 1,965,179,327.05 at the end of 2020, compared to RMB 939,967,200.06 in 2019[22]. - Basic earnings per share for 2020 were RMB 0.8191, representing a 26.33% increase from RMB 0.6484 in 2019[24]. - The net profit attributable to shareholders for Q4 2020 was 72,699,097.91 RMB, while the total net profit for the year was 275,213,692.10 RMB[26]. - The net profit after deducting non-recurring gains and losses was CNY 259.26 million, up 59.24% year-on-year[55]. Market and Sales Performance - In 2020, the company achieved a total sales volume of 1.3952 million tons, with a revenue of 6.101 billion RMB, representing a year-on-year growth of 11.26%[35]. - The production volume for hot-dip galvanized aluminum products was 1.3924 million tons, and for color-coated sheets was 748,600 tons, showing increases of 10.7% and 54.56% respectively[35]. - The company maintained its position as the top foreign trade exporter in Fuyang District, Hangzhou, with foreign exchange earnings of 24.6 million USD in 2020[35]. - The company has a robust customer base, with products sold to over 40 countries and regions, primarily in East Asia and Southeast Asia[34]. - The revenue from foreign markets was ¥1,681,374,252.19, with a gross margin of 11.04%, reflecting a year-on-year increase of 6.87%[58]. Production and Operations - The company has established a complete industrial chain for cold-rolled, hot-dip, and color-coated products, ensuring timely supply and high quality[32]. - The company has implemented a performance management system to improve production efficiency and product quality while controlling production costs[45]. - The company has established a procurement model combining fixed and temporary purchasing, allowing flexibility in adjusting procurement quantities based on market conditions[45]. - The company has completed the construction of a project with an annual production capacity of 630,000 tons of multifunctional colored coated plates, which passed environmental acceptance in October 2020[151]. - The company has established a comprehensive internal control system to ensure effective governance and operational transparency[188]. Research and Development - The company holds 21 valid patents, including 7 invention patents, showcasing its strong R&D capabilities[52]. - Total R&D expenses were ¥203,113,970.07, accounting for 3.33% of total revenue, with 113 R&D personnel representing 12.3% of the total workforce[64]. - The company completed 11 self-initiated R&D projects, resulting in 6 new technologies and 5 new products, with 4 included in the provincial new product trial plan[65]. - The company emphasizes innovation, having invested in advanced R&D equipment and successfully launched new products to meet customized customer needs[51]. Environmental Compliance - The company has a 100% operational rate for all environmental protection facilities, ensuring compliance with environmental standards[150]. - The company has established a comprehensive environmental emergency response plan and conducts regular training and drills for employees[152]. - The total emissions for chemical oxygen demand were 19.45 tons, significantly below the permitted annual discharge of 52.512 tons[149]. - The company has obtained pollution discharge permits from the Hangzhou Ecological Environment Bureau, valid for three years[151]. Shareholder and Corporate Governance - The company completed its initial public offering (IPO) on August 5, 2020, raising a total of RMB 84,132.00 million, with a net amount of RMB 74,999.94 million after deducting issuance costs[157]. - The company has established a commitment to adhere to the regulations set by the China Securities Regulatory Commission regarding shareholding reductions[109]. - The profit distribution policy states that the cash dividend ratio will not be less than 10% of the distributable profits for the first three years post-IPO, with a minimum of 20% for cash dividends in combined distributions[129]. - The company has engaged in bank wealth management with a total amount of RMB 141,300, of which RMB 65,000 is from idle raised funds and RMB 76,300 is from self-owned funds[142]. - The company has not reported any major related party transactions or significant contracts that require disclosure[139]. Risks and Challenges - The company faces risks from raw material price fluctuations, with procurement costs constituting around 90% of total expenses, potentially impacting gross margins[99]. - The company’s export sales account for approximately 20%-30% of total revenue, exposing it to international trade friction risks[100]. - The company recognizes the need for continuous product development to maintain market competitiveness amid rapid technological advancements[100]. Employee and Management Structure - The total number of employees in the parent company is 846, with a combined total of 920 employees including major subsidiaries[183]. - The company has a performance-based salary distribution system that combines performance assessment and position evaluation[184]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 8.2683 million yuan[181]. - The company plans to implement a training program in 2021 focusing on onboarding, management system discussions, and professional skills training[185].