HYATECH(SH:688510)2021-04-22 16:00Financial Performance - The company reported no profit distribution for the fiscal year 2020, considering its ongoing development phase and significant capital needs[6]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion CNY for the fiscal year, representing a 15% year-over-year growth[13]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion CNY[15]. - The company's operating revenue for 2020 was CNY 301,120,950.84, representing a year-on-year increase of 16.89% compared to CNY 257,604,361.92 in 2019[23]. - The net profit attributable to shareholders for 2020 was CNY 59,896,575.83, which is a 41.98% increase from CNY 42,185,477.50 in 2019[23]. - The basic earnings per share for 2020 was CNY 0.3091, up 41.98% from CNY 0.2177 in 2019[25]. - The total assets at the end of 2020 were CNY 1,210,801,572.29, a 92.87% increase from CNY 627,776,943.55 at the end of 2019[24]. - The net assets attributable to shareholders increased by 131.71% to CNY 939,817,945.82 in 2020 from CNY 405,609,223.03 in 2019[24]. - The cash flow from operating activities for 2020 was CNY 52,604,695.15, a decrease of 8.51% compared to CNY 57,494,852.88 in 2019[23]. - The company achieved an annual revenue of 301.12 million yuan, representing a year-on-year growth of 16.89%[85]. - Operating profit reached 68.23 million yuan, an increase of 50.33% compared to the previous year[85]. - Net profit attributable to shareholders was 59.90 million yuan, up by 41.98% year-on-year[85]. Research and Development - The company is investing in R&D, allocating 100 million CNY for the development of innovative materials and processes[20]. - Research and development expenses accounted for 10.26% of operating revenue in 2020, down from 11.93% in 2019[25]. - The company applied for a total of 29 patents during the reporting period, including 19 invention patents, and received 27 patents, with 7 being invention patents[62]. - Total R&D expenditure for the year was approximately ¥30.89 million, representing a 0.52% increase from the previous year[64]. - The company has achieved NADCAP certification for its special processes, indicating compliance with international aerospace quality standards[61]. - The company has developed several core technologies, including adaptive polishing technology for blade edges, which significantly improves production yield and reduces overall manufacturing costs[58]. - The company has completed the development of key technologies for titanium alloy hip joints, with results expected to be applied in various customer projects[6]. Market Expansion and Strategy - The company is expanding its market presence, targeting an increase in international sales by 30% in the upcoming year[17]. - A strategic acquisition of a smaller competitor is anticipated to be finalized by Q2 2021, expected to add 200 million CNY in annual revenue[18]. - The company plans to enhance its digital transformation efforts, focusing on ERP and MES systems to streamline operations and improve efficiency[22]. - The company is focusing on expanding its domestic business in aerospace engines, benefiting from strong demand in the domestic aviation manufacturing sector[89]. - The company is actively developing new products in the orthopedic field, including tibial trays and bone plates, to enhance market share amid increasing competition[89]. - The company is considering strategic acquisitions to bolster its technology portfolio, with a budget of 100 million allocated for potential deals[142]. Corporate Governance and Compliance - The company does not have any special arrangements for corporate governance[9]. - The company has established a robust corporate governance structure to protect the rights of shareholders and creditors, ensuring compliance with relevant laws and regulations[177]. - The company has committed to improving compliance management across financial, legal, and environmental health and safety aspects[134]. - The management team confirmed that no shares will be transferred or managed by others during the lock-up period of 36 months post-IPO[145]. - The company will adhere to regulations regarding share reduction plans after the lock-up period expires, ensuring compliance with the China Securities Regulatory Commission[146]. Operational Efficiency - The implementation of advanced manufacturing technologies is projected to reduce production costs by 15%[19]. - The company is enhancing production efficiency and product quality through the construction of a digital factory and continuous process improvement based on accumulated production data[37][38]. - The company has established a comprehensive supply chain management system, ensuring a wide selection of qualified suppliers for raw materials[36]. - The company has a strong emphasis on continuous technological innovation and process optimization to meet the high standards of the aerospace and medical industries[38]. Social Responsibility - The company donated RMB 300,000 to support COVID-19 prevention efforts in the local community[173]. - The company has actively participated in local poverty alleviation activities in Wuxi City[173]. - The company aims to continue its long-term commitment to poverty alleviation as part of its corporate social responsibility initiatives[176]. Shareholder Information - The company successfully listed on the Sci-Tech Innovation Board on December 16, 2020, raising funds to support future development[85]. - The total number of ordinary shares before the recent changes was 193,782,608, with an increase of 14,333,271 shares, bringing the total to 208,115,879 shares[184]. - The company completed its initial public offering (IPO) of 64.6 million shares, increasing the total share capital from 193,782,608 to 258,382,608 shares[186]. - The IPO price was set at 8.7 RMB per share, raising a total of approximately 564.42 million RMB[191]. - The company has a total of 10 major shareholders, with the top three holding a combined 30.65% of shares[195].