Willfar(SH:688100)2021-04-19 16:00Financial Performance - The company's operating revenue for 2020 was CNY 1,448,590,818.16, representing a 16.44% increase compared to CNY 1,244,051,734.30 in 2019[29]. - The net profit attributable to shareholders for 2020 was CNY 275,313,220.40, a 26.65% increase from CNY 217,375,268.34 in 2019[29]. - The net cash flow from operating activities for 2020 was CNY 188,570,813.40, showing a decrease of 17.10% compared to CNY 227,457,296.21 in 2019[29]. - The company's total assets at the end of 2020 were CNY 3,284,633,752.09, a 34.24% increase from CNY 2,446,867,606.88 at the end of 2019[29]. - The net assets attributable to shareholders at the end of 2020 were CNY 2,354,989,705.69, reflecting a 51.17% increase from CNY 1,557,816,553.37 at the end of 2019[29]. - The basic earnings per share for 2020 was CNY 0.56, up 16.67% from CNY 0.48 in 2019[30]. - The gross profit margin for 2020 was 36.03%, an increase of 1.98 percentage points from 2019[141]. - The company's total revenue for the energy internet sector reached ¥1,441,536,453.48, representing a year-over-year increase of 16.53%[143]. - The gross profit margin improved by 2.02 percentage points to 35.85% compared to the previous year[143]. - Revenue from power IoT solutions was 92,919.37 million CNY, accounting for 64.46% of total revenue[128]. Dividend and Capital Management - The company plans to distribute a cash dividend of 2.25 RMB per 10 shares, totaling 112.5 million RMB, which accounts for 40.86% of the net profit attributable to shareholders[7]. - The company does not plan to increase capital reserves or issue bonus shares[7]. - The total share capital of the company as of the end of the reporting period is 500 million shares[7]. Audit and Governance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[6]. - The board of directors and supervisory board members confirm the accuracy and completeness of the annual report[4]. - All directors were present at the board meeting, ensuring governance compliance[6]. - The company has not violated decision-making procedures for external guarantees[11]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[11]. Research and Development - The R&D expenditure as a percentage of operating revenue increased to 8.95% in 2020 from 7.97% in 2019[33]. - The total R&D investment for the current year reached ¥129,586,649.74, an increase of 30.73% compared to ¥99,126,313.23 from the previous year[96]. - R&D investment accounted for 8.95% of total revenue, up from 7.97% in the previous year, reflecting a 0.98 percentage point increase[96]. - The company is actively investing in research and development of IoT communication and sensing chips, aiming to enhance its innovation capabilities and lead the industry[115]. - The company has obtained 62 software copyrights and 13 invention patents in the field of smart communication gateways and power information sensing devices[85]. - The company has a robust R&D team of 350 personnel, including 106 with master's degrees or higher, and has set up various research centers to support product development[118]. - The company achieved CMMI-ML5 certification, enabling it to provide high-quality software integration globally[70]. Market and Strategic Development - The company has established stable business channels in major overseas markets, including Asia, Africa, and America, with representative offices in Egypt, Bangladesh, Indonesia, South Korea, and Russia[56]. - The company is actively involved in the integration of IoT with big data and artificial intelligence, enhancing its technological capabilities[65]. - The company aims to achieve revenue of 80 billion RMB from its comprehensive energy service business by 2025, with projections to exceed 300 billion RMB by 2030[78]. - The company is focusing on building an innovative technology R&D system with core technologies in "platform technology (operating system + edge computing)", "basic technology", "public technology", and "communication technology" to enhance product iteration speed and maintain technological competitiveness[193]. - The company is committed to building a comprehensive energy internet and smart city IoT solutions to support carbon neutrality initiatives, aligning with national and global carbon neutrality strategies[184]. Risk Management - The company has detailed risk factors outlined in the report, emphasizing the importance of investor awareness regarding investment risks[5]. - The company’s future plans and strategic developments are subject to investment risks and do not constitute a commitment to investors[8]. - The company is enhancing internal control management to improve risk prevention capabilities, providing training for directors and senior management to strengthen compliance awareness and operational standards[195]. Awards and Recognition - The company was recognized with multiple awards, including "Best Sci-Tech Innovation Board Listed Company" in 2020[132]. - The company has received multiple awards for its R&D projects, including the first prize for scientific and technological progress in Hunan Province, highlighting its commitment to innovation[114].