IECHO(SH:688092)2021-04-29 16:00Financial Performance - The company reported a total distributable profit of RMB 127,135,350.99 as of December 31, 2020[6]. - The company's operating revenue for 2020 was ¥222,569,617.16, representing a year-on-year increase of 5.39% compared to ¥211,191,012.87 in 2019[22]. - The net profit attributable to shareholders for 2020 was ¥48,892,915.81, which is a 9.33% increase from ¥44,720,390.79 in 2019[22]. - The net cash flow from operating activities increased by 29.42% to ¥59,634,131.80 in 2020, up from ¥46,077,575.51 in 2019[22]. - The total assets at the end of 2020 were ¥335,229,808.33, reflecting a 3.98% increase from ¥322,409,706.70 at the end of 2019[22]. - The basic earnings per share for 2020 was ¥1.10, an increase of 8.91% compared to ¥1.01 in 2019[23]. - The gross profit margin for the year was 48.81%, maintaining a high level despite rising raw material costs[102]. - The company achieved a revenue of 223 million yuan, representing a year-on-year growth of 5.39%[87]. - The net profit attributable to shareholders reached 48.89 million yuan, with a year-on-year increase of 9.33%[87]. Dividend Policy - A cash dividend of RMB 2.50 per 10 shares (including tax) is proposed, amounting to a total distribution of RMB 14,789,598 based on a total share capital of 59,158,392 shares[6]. - The cash dividend payout ratio for the year is 30.25%[6]. - The company has a policy to distribute at least 10% of the annual distributable profits as cash dividends if conditions are met, with a cumulative cash distribution over the last three years not less than 30% of the average annual distributable profits[146]. - The company will conduct annual cash dividends, with the possibility of mid-term dividends based on current profitability and cash flow[148]. - The company’s available distributable profits as of December 31, 2020, were RMB 127,135,350.99[152]. Research and Development - The R&D expenditure as a percentage of operating revenue was 9.01% in 2020, up from 8.89% in 2019[23]. - R&D investment totaled ¥20,047,947.83, an increase of 6.76% from the previous year, representing 9.01% of operating revenue[64]. - The number of R&D personnel increased to 105, accounting for 31.44% of the total workforce[76]. - The total compensation for R&D personnel amounted to 1,662.89 million yuan, up from 1,293.93 million yuan in the previous period[76]. - The company has accumulated a total of 154 patents, with 98 granted, including 24 invention patents and 66 software copyrights[62]. Operational Risks and Governance - The report includes a detailed discussion of various operational risks and corresponding mitigation measures[4]. - The company received a standard unqualified audit report from Lixin Certified Public Accountants[5]. - There are no non-operating fund occupations by controlling shareholders or related parties[8]. - The company has not violated decision-making procedures for external guarantees[9]. - The board of directors and supervisory board members confirm the authenticity and completeness of the annual report[4]. Market and Product Development - The company focuses on high-end intelligent cutting equipment, leveraging core technologies in precision motion control, CAD/CAM, and machine vision[34]. - The main products include intelligent cutting devices, which are designed for various industries such as automotive, textiles, and advertising[35]. - The company has developed a range of intelligent cutting equipment, including high-speed large-format cutting devices and multi-layer cutting systems, catering to diverse market needs[36][37]. - The intelligent cutting equipment is expanding its material cutting capabilities to include advanced materials such as carbon fiber and aerospace materials, entering new industry applications[51]. - The company is exploring the potential of machine vision technology in intelligent manufacturing, particularly in automatic trajectory generation and image processing for cutting applications[68]. Financial Management and Investments - The company reported a 90.93% decline in net cash flow from investing activities, mainly due to investments in bank wealth management products[99]. - The company has invested a total of ¥90,000,000 in bank wealth management products, with an outstanding balance of ¥49,707,788.32[194]. - The company has engaged in multiple structured deposits with various banks, with amounts ranging from ¥4,000,000 to ¥20,000,000 and annualized returns between 2.70% and 3.50%[196]. - The company has a structured deposit of ¥19,707,788.32 with a return of 4.04% due to currency conversion rates[197]. Shareholder Commitments and Regulations - The company will strictly fulfill all public commitments made during the initial public offering process[180]. - The company commits to compensating public investors for direct losses incurred due to reliance on the commitments, with compensation amounts determined through negotiation or regulatory authority recognition[180]. - The company guarantees that there are no fraudulent activities in the public offering of stocks and listing on the Sci-Tech Innovation Board[170]. - The company will comply with the regulations of the Shanghai Stock Exchange regarding any share reduction activities[165]. - The company has established a commitment to maintain stable operations and control arrangements during share reductions[156].