SK(SH:688155)2021-02-26 16:00Financial Performance - The company reported a total distributable profit of RMB 148,960,884.51 as of September 30, 2020, with a cash dividend of RMB 4 per 10 shares distributed to shareholders[5]. - The company's operating revenue for 2020 was ¥502,352,353.20, representing a 37.65% increase compared to ¥364,943,926.09 in 2019[21]. - The net profit attributable to shareholders for 2020 was ¥60,735,320.08, a decrease of 15.56% from ¥71,926,589.60 in 2019[21]. - The net cash flow from operating activities decreased by 44.56% to ¥43,217,529.47, primarily due to increased employee compensation and period expenses[23]. - Total assets increased by 110.31% to ¥1,388,293,695.09 at the end of 2020, compared to ¥660,127,836.93 at the end of 2019[21]. - The net assets attributable to shareholders grew by 168.16% to ¥1,080,099,749.81 at the end of 2020, up from ¥402,777,604.61 at the end of 2019[21]. - Basic earnings per share for 2020 were ¥0.96, down 25% from ¥1.28 in 2019[22]. - The company's gross profit margin for smart automation equipment decreased by 14.06 percentage points to 32.05% compared to the previous year[99]. - The company reported a total revenue of 98,107,000.00 RMB, with a significant increase from the previous year's revenue of 53,515,788.27 RMB, representing a growth of approximately 83.3%[76]. Dividend Policy - The company plans not to distribute profits or increase capital reserves through stock dividends for the 2020 fiscal year[5]. - The company plans to distribute cash dividends of RMB 4 per 10 shares, totaling RMB 30,252,014.40, based on the total share capital of 75,630,036 shares[134]. - The company did not propose any profit distribution or capital reserve transfer for the fiscal year 2020[134]. - In 2020, the cash dividend payout ratio was 49.81% of the net profit attributable to ordinary shareholders[135]. - The company has established a consistent and reasonable cash dividend policy, prioritizing cash dividends when conditions permit[134]. Corporate Governance - The board of directors confirmed the accuracy and completeness of the annual report, ensuring no significant omissions or misleading statements[4]. - The company does not have any special arrangements for corporate governance[8]. - The company has not violated decision-making procedures for external guarantees[7]. - The board meeting was attended by all directors, ensuring full participation in the decision-making process[4]. - The company has established a framework for managing share transfers that aligns with regulatory requirements, promoting good governance practices[146]. Audit and Compliance - The company has received a standard unqualified audit report from its accounting firm[4]. - There were no significant accounting errors or changes in accounting policies that affected the financial statements during the reporting period[200]. - The company has ensured compliance with laws and regulations to prevent the misappropriation of funds[196]. - The company has not reported any non-standard audit opinions from the accounting firm[200]. - The company has committed to maintaining the safety of its funds and assets, avoiding any illegal occupation of funds[196]. Research and Development - The R&D expenditure as a percentage of operating revenue was 10.65%, a decrease of 2.23 percentage points from 12.88% in 2019[22]. - The company achieved a total R&D investment of ¥53,515,788.27 in 2020, representing a 13.81% increase from ¥47,022,250.70 in the previous year[67]. - R&D investment accounted for 10.65% of total revenue, down from 12.88% in the previous year[68]. - The number of R&D personnel increased to 329, accounting for 41.59% of the total workforce, compared to 280 personnel and 43.82% in the previous year[79]. - The total compensation for R&D personnel rose to 5,027.89 million RMB, up from 4,472.23 million RMB, indicating a growth of 12.4%[79]. Market Position and Strategy - The company is a leading supplier of intelligent manufacturing equipment for both new energy vehicles and fuel vehicles, serving major clients such as BMW and Volkswagen[31]. - The company has established itself as a key supplier in the intelligent manufacturing sector for automotive transmission and chassis systems, with clients including major automotive brands[32]. - The company has successfully expanded its market presence internationally, supplying battery production lines to European automotive brands[82]. - The company aims to enhance its competitive edge by leveraging its core technologies and extensive project experience in the intelligent automation equipment sector[56]. - The company is positioned to benefit from the rapid growth of the new energy vehicle and battery industries, driven by global carbon emission reduction goals and China's commitment to carbon neutrality by 2060[55]. Operational Efficiency and Technology - The company has developed and sold production lines for fuel cell stacks/systems, indicating a focus on cutting-edge technology in the new energy sector[31]. - The intelligent manufacturing data system integrates various technologies for real-time data collection and analysis, enhancing the intelligence level of automated equipment[39]. - The company has developed a CAN bus communication system for battery management, achieving a timestamp accuracy of up to 1 µm and an average response time of 250 µs[58]. - The AGV (Automated Guided Vehicle) system features a hidden charging docking mechanism that enhances automation and safety, with high positioning accuracy and low noise[59]. - The company has achieved a comprehensive integration of automation equipment with dynamic data collection and remote monitoring capabilities[59]. Risks and Challenges - The company has outlined various risks in its operations and corresponding mitigation measures in the report[4]. - The automotive industry is cyclical, and a decline in vehicle production and sales could negatively impact the demand for intelligent manufacturing equipment, affecting the company's performance[92]. - The company faces intensified market competition from international players like KUKA and ABB, necessitating rapid improvements in operational scale and capital strength to maintain market share[90]. - The ongoing COVID-19 pandemic has not significantly impacted the company's operations, but potential future outbreaks could hinder project progress due to restrictions on personnel movement[93]. Shareholder Commitments - The company has established a long-term commitment to not repurchase shares or transfer holdings during the specified lock-up period, ensuring stability for investors[145]. - The company will ensure that any gains from unauthorized share sales will be forfeited to the company, emphasizing the importance of adherence to regulations[144]. - The company will publicly disclose any violations of share transfer commitments and apologize to shareholders, ensuring transparency and trust[144]. - The company has committed to not providing loans or financial assistance for the acquisition of restricted stocks under the incentive plan[197]. - The company will bear all tax payment obligations arising from tax incentives prior to the issuance of shares to protect the interests of new shareholders[197].