TZTEK(SH:688003)2021-03-09 16:00Financial Performance - The company's operating revenue for 2020 was ¥964,110,234.89, representing a year-on-year increase of 78.19%[31]. - The net profit attributable to shareholders for 2020 was ¥107,381,259.83, an increase of 29.10% compared to 2019[31]. - The company's total assets at the end of 2020 were ¥2,121,007,275.89, reflecting an 11.66% increase from the previous year[31]. - The basic earnings per share for 2020 was ¥0.5570, a 10.73% increase compared to ¥0.5030 in 2019[33]. - The net profit attributable to shareholders in Q4 2020 was ¥89,597,826.43, showing strong performance in the last quarter[38]. - The company's net assets attributable to shareholders decreased by 5.45% to ¥1,546,616,685.80 at the end of 2020[31]. - The weighted average return on net assets for 2020 was 6.62%, a decrease of 2.29 percentage points from 2019[33]. - The gross profit margin for the main business was 42.46% in 2020, indicating a decline from previous years[100]. - The company's gross profit margin for the main business was 42.46%, a decrease of 3.24% compared to the previous year[115]. - The company achieved a net profit attributable to shareholders of the listed company of RMB 107,381,259.83 for the year 2020, with a parent company net profit of RMB 83,433,116.21[174]. Cash Flow and Dividends - The company plans to distribute a cash dividend of 3.00 CNY per 10 shares, totaling 57,165,000 CNY (including tax), which represents 53.24% of the net profit attributable to shareholders for the year[8]. - The total distributable profit of the parent company as of December 31, 2020, was RMB 222,463,046.81[174]. - The company has maintained a cash dividend payout ratio of at least 30% of the average annual distributable profit over the last three years[173]. - The cash dividend for 2019 was RMB 2.00 per 10 shares, totaling RMB 38,720,000, which was 46.55% of the net profit[175]. - The cash dividend for 2018 was RMB 1.50 per 10 shares, totaling RMB 21,780,000, which was 23.05% of the net profit[175]. Research and Development - Research and development expenses accounted for 16.03% of operating revenue in 2020, a decrease of 1.48 percentage points from 2019[34]. - The total R&D expenditure for the year reached ¥154,590,274.53, a significant increase of 63.20% compared to ¥94,724,317.40 in the previous year[70]. - The company filed for 120 new patents during the reporting period, including 98 invention patents, and has a total of 344 patents, with 194 granted, showcasing its commitment to innovation[69]. - The company added 226 new R&D personnel, representing a growth of 54.72% year-over-year, bringing the total number of R&D staff to 639[73]. - The company invested R&D expenses of 79.6 million, 94.7 million, and 154.6 million CNY over the past three years, representing 15.66%, 17.51%, and 16.03% of revenue respectively[84]. Market Position and Growth - The company has served over 4,000 clients, including major international companies such as Apple, Samsung, and Bosch, indicating a strong market presence in various industries[44]. - The company achieved significant growth in the photovoltaic industry, contributing to the overall revenue increase[34]. - The global machine vision market size was approximately $9.6 billion in 2020, with a stable growth rate of 12% over the past decade[55]. - The company is positioned to benefit from the ongoing transformation and upgrading of the manufacturing industry, which increasingly values machine vision technology[57]. - The company is expected to benefit from the ongoing automation and intelligent transformation in manufacturing, leading to increased demand for machine vision products[158]. Operational Risks and Management - The company has detailed various operational risks and corresponding mitigation measures in the report[5]. - The company faces risks related to inventory management, including a large inventory scale and low turnover rate, which could adversely affect operational efficiency[103]. - The company is exposed to exchange rate risks, with foreign exchange gains and losses recorded as CNY 2,151,100 and CNY -15,706,600 in the last three years, respectively[104]. - The ongoing COVID-19 pandemic poses risks to global economic stability, potentially impacting sales in downstream industries served by the company[107]. Corporate Governance and Compliance - The board of directors and supervisory board members have confirmed the authenticity, accuracy, and completeness of the annual report[4]. - The company has not reported any non-operational fund occupation by controlling shareholders or related parties[9]. - The company has not violated any decision-making procedures regarding external guarantees[9]. - The independent directors have provided clear opinions supporting the profit distribution proposals, ensuring transparency and compliance[174]. - The company has established a policy that limits the annual transfer of shares by directors and senior management to no more than 25% of their total holdings during their tenure and for 6 months post-termination[182]. Strategic Initiatives - The company aims to leverage industrial IoT, big data, and cloud computing to enhance manufacturing quality and efficiency through machine vision[57]. - The company plans to adjust its profit distribution policy based on changes in external operating conditions or its own operational status[174]. - The company is investing 100 million in R&D for new technologies aimed at improving operational efficiency[190]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[194]. - The company aims to improve its management capabilities and accelerate talent acquisition to strengthen its competitive position in the market[199].