Novoray(SH:688300)2021-04-20 16:00Financial Performance - The company's operating revenue for 2020 was RMB 404,203,405.80, representing a 28.20% increase compared to RMB 315,301,090.76 in 2019[31]. - The net profit attributable to shareholders of the listed company for 2020 was RMB 110,916,230.53, an increase of 48.49% from RMB 74,694,979.19 in 2019[31]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 92,160,891.70, up 30.99% from RMB 70,357,543.70 in 2019[31]. - The net cash flow from operating activities for 2020 was RMB 89,686,223.95, an increase of 11.31% compared to RMB 80,576,233.42 in 2019[31]. - The total assets at the end of 2020 were RMB 1,092,568,726.58, a 6.72% increase from RMB 1,023,726,519.19 at the end of 2019[31]. - The net assets attributable to shareholders of the listed company at the end of 2020 were RMB 963,947,587.70, reflecting a 7.57% increase from RMB 896,148,961.89 at the end of 2019[31]. - The basic earnings per share for 2020 was CNY 1.29, representing a 14.16% increase compared to CNY 1.13 in 2019[32]. - The company's R&D investment accounted for 4.89% of operating revenue, up by 0.82 percentage points from 4.07% in 2019[35]. - The weighted average return on equity decreased to 11.97%, down 7.27 percentage points from 19.24% in 2019[35]. - In Q4 2020, the net profit attributable to shareholders reached CNY 40,033,640.20, marking a significant increase from previous quarters[38]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 5.00 per 10 shares, totaling RMB 42.9867 million, which accounts for 38.76% of the net profit attributable to shareholders for 2020[7]. - In 2019, the cash dividend was also RMB 5.00 per 10 shares, totaling RMB 42.9867 million, representing 57.55% of the net profit attributable to shareholders[159]. - In 2018, the cash dividend was RMB 2.40 per 10 shares, totaling RMB 15.4752 million, which was 26.51% of the net profit attributable to shareholders[159]. - The company does not plan to increase capital through capital reserves or issue bonus shares for 2020[155]. - The company has maintained a consistent cash dividend policy over the past three years, with no changes in the dividend amount per share[159]. Research and Development - The company is focused on developing functional ceramic fillers with excellent physical properties, including piezoelectric and dielectric materials[30]. - The company aims to expand its market presence through the introduction of new products and technologies in the field of semiconductor packaging materials[30]. - The company has implemented strategies to control the content of radioactive elements in its materials to below 1 ppb, ensuring compliance with industry standards[30]. - The company is actively pursuing research and development in high-density interconnection (HDI) printed circuit boards to enhance its product offerings[30]. - The company focuses on R&D, establishing a technical committee to guide product planning and technology direction, emphasizing independent innovation and collaboration with industry leaders[52]. - The company has established multiple research centers and has been recognized as a national high-tech enterprise, indicating strong R&D capabilities[88]. - The company holds 56 patents, including 19 invention patents, demonstrating its commitment to innovation[90]. - Research and development (R&D) expenses totaled ¥19,784,132.70, representing a 54.17% increase from the previous year's ¥12,832,975.31[74]. - The number of R&D personnel increased to 39, representing 10.68% of the total workforce, up from 10.59% in the previous period[5]. - The company has applied for a total of 102 patents, with 56 granted, showing a significant increase in innovation efforts compared to the previous period[73]. Market Expansion and Strategy - The company is focused on expanding its market presence through innovative product development and strategic investments in high-demand sectors such as 5G and new energy vehicles[81]. - The company has strengthened its market position by deepening partnerships with high-quality domestic and international clients[35]. - The implementation of the National VI standard has driven demand for the company's products, particularly in the automotive sector[35]. - The company has achieved significant sales growth in high-end applications, with products sold to leading international clients such as Samsung, Sumitomo, and Panasonic, enhancing brand influence[51]. - The company has established a strong procurement model, ensuring efficient supply chain management and maintaining high-quality standards through rigorous supplier evaluations[54]. - The company has developed a professional marketing system, focusing on customer-centric strategies and rapid response to market demands across various regions[54]. - The company’s sales strategy includes a combination of direct sales and agency models, ensuring a comprehensive approach to meet diverse customer needs[54]. Compliance and Governance - The company has received a standard unqualified audit report from Huaxing Accounting Firm[6]. - There are no non-operating fund occupations by controlling shareholders or related parties[9]. - The company has not violated decision-making procedures for external guarantees[9]. - The board of directors and supervisory board confirm the accuracy and completeness of the annual report[4]. - The company has a comprehensive governance structure in place, ensuring no special arrangements exist[11]. - The company has committed to transparency in its financial disclosures and compliance with securities regulations[183]. Operational Efficiency - The company has implemented a quality management system certified by ISO9001 and IATF16949, ensuring high product quality standards[92]. - The company has completed 35 QCC projects in 2020, achieving a historical high[1]. - The company implemented 28 improvement projects in 2020 to enhance operational efficiency[1]. - The company is committed to improving quality management and operational efficiency through enhanced information technology integration[153]. Financial Health and Investments - The company’s investment activities generated a net cash outflow of CNY 312.71 million, an increase of 42.39% year-on-year, primarily due to expenditures on new production lines and supporting equipment[107]. - The company’s financing activities resulted in a net cash outflow of CNY 67.57 million, a decrease of 113.77% year-on-year, mainly due to the repayment of loans[107]. - The company has established a wholly-owned subsidiary with an investment of RMB 230 million to implement the first phase of a new electronic-grade functional materials project, with a designed capacity of 9,500 tons/year[1]. - The company expanded its production capacity by 7,200 tons/year for spherical products to meet increased customer demand in 2020[1]. Shareholding and Lock-up Policies - The company has established a lock-up period for shares held by directors, supervisors, and core employees, which lasts for 36 months from February 21, 2017[171]. - The company has committed to avoiding any business activities that may compete with its subsidiaries, ensuring no conflicts of interest arise[182]. - The company has established a clear policy regarding the transfer of shares by directors and senior management, limiting annual transfers to 25% of their total holdings[176]. - The company will not reduce its shareholding within two years after the lock-up period ends, ensuring compliance with relevant laws and regulations regarding share sales[186].