Worldia(SH:688028)2021-04-16 16:00Financial Performance - The company's operating revenue for 2020 was ¥241,831,705.19, a decrease of 5.17% compared to ¥255,014,004.76 in 2019[26]. - The net profit attributable to shareholders for 2020 was ¥49,490,793.88, down 17.54% from ¥60,021,564.87 in 2019[26]. - The net profit after deducting non-recurring gains and losses was ¥45,552,729.82, a decrease of 10.66% from ¥50,985,332.26 in 2019[26]. - The net cash flow from operating activities for 2020 was ¥74,506,478.78, down 10.12% from ¥82,897,770.47 in 2019[26]. - As of the end of 2020, the total assets were ¥898,118,779.03, a decrease of 1.34% from ¥910,314,153.68 at the end of 2019[26]. - The net assets attributable to shareholders at the end of 2020 were ¥843,899,687.06, down 2.44% from ¥864,975,466.83 at the end of 2019[26]. - The company's basic and diluted earnings per share decreased by 29.55% to CNY 0.62 compared to CNY 0.88 in the previous year[28]. - The company reported a revenue of 1,053,140.64 million for the year, reflecting a strong performance in the market[77]. - The company achieved a main business revenue of 241,740,632.68 RMB in 2020, with a main business cost of 126,256,123.50 RMB, resulting in a gross margin of 47.77%[108]. - The revenue from high-precision tools was 128,268,738.08 RMB, with a gross margin of 43.94%, showing a decrease of 2.54% in revenue compared to the previous year[108]. Research and Development - The company increased R&D investment, focusing on high-end tool markets and expanding product offerings to include superhard tools, carbide tools, and metal ceramic tools[6]. - Research and development expenses accounted for 7.37% of operating income, an increase of 0.51 percentage points from the previous year[28]. - Total R&D investment for the year was ¥17,828,249.54, an increase of 1.97% from the previous year, with R&D investment accounting for 7.37% of operating revenue[73]. - The company has achieved significant advancements in its R&D capabilities, evidenced by the increase in the number of patents and the scale of ongoing projects[72]. - The company has a total of 195 patents, including 30 invention patents, showcasing its commitment to research and development[86]. - The company has developed a new type of PCD drill bit that significantly improves drilling precision for PCB and semiconductor materials, enhancing production efficiency and reducing costs[77]. - The company has developed a new grinding wheel assembly that combines rotation and revolution, significantly reducing production costs and improving efficiency in large-scale grinding operations[79]. - The company has developed a new type of CVD diamond self-supporting material that improves impact resistance and fracture strength, with the new material entering trial production and a patent applied for[67]. Market Strategy and Growth - The company aims to achieve external growth through investments and acquisitions, focusing on supplementing technical gaps and enriching product categories[6]. - The company is optimistic about the future, aiming for rapid development in 2021 and beyond, while maintaining a focus on innovation and quality[6]. - The company plans to strengthen market development in key areas such as bearing, gear processing, and powder metallurgy[4]. - The company is actively pursuing market expansion strategies, leveraging its innovative product development to capture new customer segments[77]. - The company aims to enhance its market share in high-end segments by focusing on high-precision tools and expanding product lines[148]. - The company plans to pursue external growth through investments and acquisitions to enhance its technological capabilities and product offerings[149]. - The company is focused on improving internal management systems to adapt to the challenges of rapid business expansion[93]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 2.5 yuan per 10 shares, totaling approximately 20 million yuan, which represents 85.67% of the net profit attributable to shareholders for 2020[10]. - The proposed cash dividend for 2020 is RMB 2.5 per 10 shares, with an expected total payout of RMB 20 million, representing 85.67% of the net profit attributable to shareholders[159]. - The company has established a profit distribution policy that emphasizes stable and continuous cash dividends, considering profitability and cash flow[158]. - The company will prioritize cash dividends over stock dividends, provided cash is sufficient for operational needs[176]. - The company commits to maintaining the stability of its stock price for three years post-IPO if the stock price falls below the latest audited net asset value for 20 consecutive trading days[174]. Operational Challenges - In 2020, the company faced operational pressure due to the COVID-19 pandemic, leading to a decline in performance in the consumer electronics display and automotive industries[4]. - Ongoing macroeconomic uncertainties, including the impact of the COVID-19 pandemic and geopolitical tensions, could affect future growth[103]. - The risk of rising raw material costs, particularly for imported materials, poses a threat to profitability[100]. - The company has reported a significant reduction in production costs through the introduction of new technologies and optimized processes[81]. Compliance and Governance - The governance structure will be improved in accordance with relevant laws and regulations to ensure transparency and protect shareholder interests[155]. - The company will ensure that any share reductions post-lock-up will not be below the IPO price[167]. - The company has committed to timely and sufficient disclosure of any failure to fulfill commitments made in the prospectus, including reasons for such failures[182]. - The company has not faced any significant litigation or arbitration matters during the reporting period[189]. - The company has not encountered any non-standard audit opinions from its accounting firm[186].