Seeyon(SH:688369)2021-04-20 16:00Financial Performance - The company achieved total operating revenue of CNY 763.29 million in 2020, representing a year-on-year increase of 9.07%[24]. - Net profit attributable to shareholders reached CNY 107.60 million, up 10.40% compared to 2019[24]. - The basic earnings per share decreased to CNY 1.40, a decline of 12.50% from the previous year[23]. - The weighted average return on equity fell to 8.50%, down 11.22 percentage points from 2019[23]. - The company reported a net cash flow from operating activities of CNY 125.20 million, a significant increase of 29.69% compared to 2019[24]. - The total assets at the end of 2020 were CNY 1.84 billion, reflecting a 9.42% increase from the previous year[24]. - The company achieved a total R&D investment of ¥119,638,014.75 in 2020, representing a 33.87% increase compared to ¥89,370,959.32 in 2019[77]. - R&D investment accounted for 15.67% of total revenue, an increase of 2.90 percentage points from the previous year[77]. - The company reported a significant increase in contract liabilities, reaching CNY 216,553,412.39, reflecting the implementation of new revenue recognition standards[147]. - The company achieved operating revenue of 763.29 million RMB, an increase of 63.46 million RMB, representing a growth of 9.07% year-on-year[100]. Research and Development - Research and development expenses accounted for 15.67% of operating revenue, an increase of 2.90 percentage points year-on-year[23]. - The company applied for 23 new invention patents in 2020, with 1 patent approved, bringing the total approved patents to 31[75]. - The company reported a total of 434 R&D personnel, with 83.41% holding a bachelor's degree and above, and 52.53% aged 30 or below[84]. - The company is investing $50 million in research and development for new technologies aimed at enhancing user experience[190]. - Increased R&D investment in cloud service products, with plans to launch the new V8 collaborative technology platform and enhance HR cloud service capabilities[164]. Product Development and Innovation - The company is developing a new collaborative management technology platform, V8, to enhance its product offerings[12]. - The company has developed a platform-based product strategy, including the V5 collaborative management platform and Formtalk PaaS platform, targeting various market segments such as large enterprises, government organizations, and SMEs[34]. - The collaborative management software products include A8 for large enterprises, G6 for government organizations, and A6 for SMEs, with a focus on enhancing collaborative office and business applications[35]. - The company launched the V8.0 version of its platform, enhancing capabilities in unified data analysis and low-code business customization[106]. - The company upgraded its core technologies, enhancing the performance, stability, security, and compatibility of the V5 platform and its products A8, A6, and G6, aligning with strategic development needs[60]. Market Strategy and Expansion - The company is focusing on expanding its market presence through its core technology, CAP, which supports collaborative application development[12]. - The company employs a mixed sales model combining direct sales and distribution to effectively reach a wide range of clients, including large enterprises and government agencies[46]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $100 million allocated for potential deals[190]. - The company plans to enhance its marketing strategy, increasing the budget by 30% to support new product launches and market penetration[190]. - The company aims to expand its market presence by leveraging its proprietary technologies and innovative solutions in the collaborative management sector[57]. Compliance and Governance - The company reported a standard unqualified audit opinion from Lixin Certified Public Accountants[5]. - The company has confirmed that all board members can guarantee the authenticity and completeness of the annual report[9]. - The company emphasizes compliance management to ensure sustainable and healthy development, focusing on accurate and timely information disclosure[168]. - The company guarantees that its prospectus and other disclosure materials do not contain false records or misleading statements[185]. - The company will ensure compliance with information disclosure regulations regarding shareholder reductions post-lock-up[181]. Shareholder and Dividend Policy - The company plans to distribute cash dividends of RMB 4.50 per 10 shares, totaling RMB 34,645,312.35 based on the total share capital of 76,989,583 shares as of December 31, 2020[6]. - The company distributed cash dividends of 4.50 CNY per 10 shares in 2020, with a payout ratio of 32.20% of the net profit attributable to shareholders[178]. - The company aims to enhance shareholder value through consistent dividend payouts and strategic shareholding commitments[178]. - The company has committed to a lock-up period of 36 months for major shareholders post-IPO, during which they will not transfer or propose repurchase of shares[179]. - The company will publicly explain the specific reasons for any failure to fulfill commitments in designated publications and apologize to shareholders and the public[187]. Technology and Cloud Services - The company is implementing a "cloud transformation" strategy, providing integrated cloud services for human resources and data collection[33]. - The company has established a competitive advantage in innovation capability, product technology, customer base, market brand, and service system, serving over 30,000 enterprise and government clients across various industries[52]. - The collaborative management software industry is evolving towards a hybrid cloud deployment model, integrating both public and private cloud solutions[55]. - The company is focusing on providing low-code development platforms and data integration platforms to meet diverse and personalized application scenarios for clients[54]. - The company aims to enhance its cloud marketing service platform operations, improving pre-sales capabilities and accelerating sales processes[162]. Financial Health and Cash Flow - The company's cash and cash equivalents reached 1.57 billion RMB, a 104.75% increase from the previous year, mainly due to the recovery of financial investments[146]. - The company reported a net cash flow from investment activities of 712.61 million RMB, primarily from the redemption of bank wealth management products[145]. - The company's investment activities generated a net cash flow of CNY 712,606,558.65, a significant recovery from a negative cash flow in the previous year[125]. - The company achieved a project progress of over 50% for the new collaborative management software optimization upgrade, indicating significant advancement in development[80]. - The company will implement measures to stabilize its stock price, including share buybacks and increasing holdings by major shareholders and executives[184].