Guosheng Intelligence(SH:688558)2021-04-12 16:00Financial Performance - The company's operating revenue for 2020 was approximately ¥735.61 million, representing a year-over-year increase of 10.67% compared to ¥664.68 million in 2019[20]. - Net profit attributable to shareholders increased by 42.65% to ¥120.24 million from ¥84.29 million in the previous year[22]. - The net profit after deducting non-recurring gains and losses rose by 36.10% to ¥104.83 million, up from ¥77.02 million in 2019[20]. - Total assets grew by 101.90% to ¥1.59 billion, compared to ¥785.71 million in 2019[22]. - Net assets attributable to shareholders increased by 108.31% to ¥1.23 billion from ¥591.68 million in the previous year[20]. - Basic earnings per share rose by 22.35% to ¥1.04, compared to ¥0.85 in 2019[21]. - The total profit reached 138.50 million yuan, reflecting a growth of 42.92% year-on-year, while the net profit attributable to shareholders was 120.24 million yuan, up 42.65%[87]. - The gross margin for the general equipment manufacturing sector improved by 3.93 percentage points to 32.88%[101]. Dividend Policy - The company plans to distribute a cash dividend of 3.00 RMB per 10 shares, totaling approximately 39.6 million RMB, which represents 32.93% of the net profit attributable to shareholders for 2020[5]. - The company has a profit distribution policy that prioritizes cash dividends, with a minimum cash dividend ratio of 30% of the average distributable profit over the last three years[135][134]. - The company has not proposed a stock dividend or capital reserve conversion for the year 2020[135]. - The company’s cash dividend conditions include having positive undistributed profits and a standard unqualified audit report for the fiscal year[135]. - The company’s cash dividend policy varies based on its development stage, with a minimum cash dividend ratio of 80% for mature companies without major capital expenditures[134]. Research and Development - The proportion of R&D investment to operating revenue increased to 4.89%, up from 4.60% in 2019[21]. - The total R&D investment for the year was approximately ¥35.97 million, representing a 17.73% increase from the previous year, and accounting for 4.89% of operating revenue[68]. - The company is focusing on R&D to enhance its product offerings, aiming to increase market share and accelerate the localization of high-end equipment[46]. - The company has achieved a 40% increase in processing efficiency through the integration of traditional processing procedures and the development of a multi-surface composite processing center[62]. - The company has filed for a patent for a method to adjust the dynamic balance of machine tool transmission mechanisms, which is currently under review[61]. Market Position and Strategy - The company provides integrated intelligent manufacturing solutions, focusing on high-end CNC machine tools and smart automation production lines across various industries including automotive and aerospace[31]. - The company has established a strong position in the domestic market for mid-to-high-end CNC machine tools, with significant improvements in product performance and technology development, being recognized as one of the "Top 30 Machine Tool Enterprises" in China for three consecutive years from 2014 to 2016[45]. - The company is committed to innovation in high-end CNC machine tools and automation technologies, aligning with national strategies for advanced manufacturing development[42]. - The company is actively expanding its market presence and product offerings, particularly in the CNC machine tool sector, to capitalize on industry growth opportunities[86]. Operational Efficiency - The company employs a sales model that combines direct sales and distribution, with direct sales for equipment components and a dealer network for CNC machine tools[35]. - The procurement strategy is based on a "sales-driven procurement + safety stock" model, ensuring materials are sourced according to customer-specific demands and market forecasts[36]. - The production model is customized, with a focus on "sales-driven production," allowing for tailored solutions based on client requirements[36]. - The company emphasizes lean production management and cost control, enhancing overall management efficiency and supporting profitability[83]. Corporate Governance - The company does not have any special arrangements for corporate governance[8]. - The company has outlined specific conditions under which it will return funds to investors in case of regulatory violations, ensuring transparency[143]. - The company has committed to maintaining the integrity of its financial disclosures and will bear legal responsibility for any inaccuracies[143]. - The company has established a commitment to adhere to legal regulations regarding share transfers and reductions, ensuring compliance with market rules[143]. Risk Management - The company has outlined various operational risks and corresponding mitigation strategies in the report[4]. - The report includes a forward-looking statement risk declaration, indicating that future plans and strategies do not constitute actual commitments to investors[6]. - The company faces risks related to core competitiveness, particularly in technology upgrades and potential patent infringements[90][91]. Environmental and Social Responsibility - The company is not classified as a heavily polluting industry, with pollutants primarily consisting of wastewater, waste gas, noise, and solid waste[187]. - Waste gas treatment includes a combination of "paint mist filter + UV photolysis + activated carbon adsorption," meeting local emission standards[187]. - The company actively participated in social welfare activities, donating RMB 210,000 to support medical teams during the COVID-19 pandemic[185]. - The company established the "Guosheng Education Award Fund" to recognize outstanding teachers and students, receiving awards for its charitable projects in 2020[185].