Haosen(SH:688529)2021-04-27 16:00Financial Performance - The company reported a total operating revenue of 1,036,543,748.60 CNY in 2020, a decrease of 1.37% compared to the previous year[90]. - Net profit attributable to shareholders increased by 140.92% to CNY 82,172,963.91 from CNY 34,108,593.34 in the previous year[21]. - The net cash flow from operating activities significantly improved to CNY 104,399,266.85, compared to a negative cash flow of CNY -9,695,717.13 in 2019[21]. - The company's total assets rose by 21.66% to CNY 2,716,588,401.51 from CNY 2,232,973,835.93 in 2019[21]. - The net assets attributable to shareholders increased by 190.61% to CNY 1,045,068,257.84 from CNY 359,610,428.03 in 2019[23]. - Basic earnings per share for 2020 were CNY 0.83, up 102.44% from CNY 0.41 in 2019[22]. - The company reported a significant increase in government subsidies related to revenue, contributing to the rise in net profit[21]. - The company achieved a total R&D investment of ¥73,077,257.93 in 2020, representing a 13.22% increase from ¥64,546,831.63 in the previous year[77]. Dividend Distribution - The company plans to distribute a cash dividend of 1.93 RMB per 10 shares, totaling approximately 24.7 million RMB, which represents 30.06% of the net profit attributable to shareholders for the year 2020[5]. - The profit distribution plan has been approved by the company's 12th meeting of the first board of directors and is pending approval from the shareholders' meeting[159]. - The company adheres to a relatively stable dividend distribution policy, reviewing and adjusting the profit distribution plan every three years based on future profit and cash flow forecasts[159]. - The company emphasizes communication with shareholders, especially minority shareholders, regarding profit distribution plans[159]. - The company will consider shareholder feedback, especially from minority shareholders, when formulating its dividend distribution policy[155]. Market and Industry Trends - In 2020, China's automotive production and sales were approximately 25 million units, with traditional fuel vehicles expected to dominate for the next five years despite the rise of electric vehicles[41]. - The intelligent manufacturing equipment market in China is projected to grow from 1.7776 trillion yuan in 2019 to 2.265 trillion yuan by 2021, indicating strong demand growth[62]. - The company is actively involved in the development of intelligent production lines for traditional fuel vehicles, addressing the need for automation upgrades in existing production lines[41]. - The company has established overseas subsidiaries in the US, India, and Germany to expand its customer base and market reach[55]. - The company plans to expand its market presence in Asia, targeting a 30% increase in market share within the next two years[167]. Research and Development - Research and development expenses accounted for 7.05% of operating revenue, an increase of 0.91 percentage points from 6.14% in 2019[22]. - The company has developed multiple core technologies over nearly 20 years, including intelligent flexible assembly unit technology and MES information systems, enhancing production line flexibility and adaptability[72]. - The company is focusing on customer value and future development needs as the primary direction for its R&D efforts[75]. - The company aims to enhance the flexibility and automation of its engine assembly lines to meet the growing market demand for environmentally friendly engines[79]. - The company has obtained a total of 90 authorized patents and 83 software copyrights by the end of 2020, with 19 new patents and 12 new software copyrights granted during the year[75]. Strategic Initiatives - The company plans to develop new high-end equipment businesses by leveraging its 20 years of market experience and brand influence, focusing on high-growth and high-margin sectors[145]. - The company is committed to developing its software technology services, aiming to create competitive advantages by integrating these services with its intelligent manufacturing solutions[145]. - The company will expand its product matrix by applying its advanced automation and intelligent technologies to new industries such as OLED displays, 3C electronics, and aerospace[146]. - The company aims to enhance its cost control, marketing, product development, production, funding, resource acquisition, and brand influence to expand its market share in high-end equipment manufacturing[145]. - The company is in a growth phase and will continue to expand production scale, increase R&D for new products, and actively seek acquisition opportunities[157]. Corporate Governance - The company has confirmed that all board members attended the board meeting, ensuring accountability for the report's accuracy[4]. - The company has not disclosed any special arrangements for corporate governance[8]. - The company has committed to not transferring or entrusting the management of shares held prior to the public offering for 36 months from the date of listing[162]. - The company will provide independent opinions from independent directors and written review opinions from the supervisory board on any proposed adjustments to the profit distribution plan[159]. - The company emphasizes the importance of adhering to commitments regarding share liquidity and lock-up periods to maintain investor confidence[165]. Financial Management - The company reported a significant increase in contract liabilities to 661,531,824.57 CNY, reflecting the reclassification of customer payments under new revenue recognition standards[136]. - The total amount of restricted assets reached 478,310,127.64 CNY, primarily due to financing guarantees[137]. - The company has no overdue guarantees and has fulfilled all guarantee obligations[190]. - The company has established a comprehensive supplier management system to ensure the stability and quality of procurement activities[200]. - The company focuses on employee rights protection, providing a safe working environment and diverse training opportunities for career development[199].