Hymson(SH:688559)2021-06-04 16:00Financial Performance - The company reported no profit distribution for the fiscal year 2020, considering its significant capital needs during the development phase[7]. - The company is currently in a development investment phase, indicating a focus on growth rather than immediate profitability[7]. - The company's operating revenue for 2020 was CNY 1,320,590,723.68, representing a 28.10% increase compared to CNY 1,030,923,945.62 in 2019[30]. - The net profit attributable to shareholders for 2020 was CNY 77,350,479.98, a decrease of 46.86% from CNY 145,546,332.41 in 2019[30]. - The net profit after deducting non-recurring gains and losses was CNY 46,996,966.5, down 39.32% from CNY 77,448,043.37 in 2019[30]. - The net cash flow from operating activities increased by 38.85% to CNY 196,268,296.01 in 2020, compared to CNY 141,351,009.03 in 2019[30]. - The total assets at the end of 2020 were CNY 3,613,811,014.36, a 66.94% increase from CNY 2,164,726,969.59 at the end of 2019[30]. - The net assets attributable to shareholders increased by 111.00% to CNY 1,380,745,815.36 at the end of 2020, compared to CNY 654,390,674.27 at the end of 2019[30]. - Basic earnings per share for 2020 were CNY 0.48, a decrease of 50.52% from CNY 0.97 in 2019[31]. - Diluted earnings per share for 2020 were also CNY 0.48, reflecting the same percentage decrease as basic earnings[31]. Corporate Governance and Assurance - The audit report issued by Tianjian Accounting Firm confirmed the financial statements as true, accurate, and complete[6]. - The board of directors and management have assured the accuracy and completeness of the annual report[4]. - There are no non-operating fund occupations by controlling shareholders or related parties[9]. - The company does not have any special arrangements for corporate governance[9]. - The company has not violated any decision-making procedures regarding external guarantees[9]. - The board meeting was attended by all directors, ensuring collective oversight of the report[6]. Risk Management - The company has outlined various risks and countermeasures in its report, emphasizing the importance of risk awareness for investors[5]. - The report includes a forward-looking statement risk declaration, advising investors to maintain awareness of investment risks[8]. - The company faces risks from cyclical fluctuations in the consumer electronics industry, which are influenced by macroeconomic conditions[177]. - There is a risk of market position and profitability being adversely affected if the company fails to keep pace with technological advancements in hydrogen fuel cells[178]. - The company is exposed to foreign exchange risks, particularly from fluctuations in the RMB against the USD, which could impact export competitiveness[182]. Research and Development - The company invested 8.11% of its operating revenue in R&D, a decrease of 0.45 percentage points compared to the previous year[33]. - The total R&D investment for the year was approximately ¥107.04 million, representing a 21.29% increase from the previous year's ¥88.25 million[116]. - The company has developed a high-precision temperature control technology with a temperature control accuracy of 0.01℃, ensuring stable output power of frequency-doubling lasers[100]. - The company has accumulated a total of 309 authorized patents and 81 software copyrights as of December 31, 2020, with 20 new patents and 13 software copyrights obtained during the reporting period[112]. - The company has developed an intelligent defect skipping technology that can reduce material loss by 50% during laser cutting, achieving a cutting speed of 120m/min with a precision of ±0.2mm[108]. - The company has filed for 25 new invention patents in the current year, with a total of 127 invention patents applied for cumulatively[112]. Market Position and Strategy - The company plans to continue expanding its market presence and invest in new technologies to enhance product offerings[22]. - The company aims to enhance its market position by integrating laser technology with automation, focusing on high-power, narrow-pulse, and stable performance products[139]. - The company is actively seeking global partnerships to enhance its innovation and technical capabilities in the renewable energy and consumer electronics sectors[152]. - The company has established a three-tiered service system to provide timely support and training, enhancing customer satisfaction and loyalty[145]. - The company serves major clients in the power battery sector, including CATL, Tesla, and Great Wall Motors, enhancing its market position[90]. - In the consumer electronics sector, the company has developed high-quality equipment for clients such as Apple, Huawei, and Foxconn, leading to a rapid increase in equipment orders and market share[90]. Production and Technology - The company produces automation solutions for laser processing, integrating them into automated equipment or production lines for precision and efficiency[46]. - The high-speed laser slicing machine is recognized for its stability and production quality, serving major clients like Tesla and CATL[46]. - The company’s general laser and automation equipment includes laser marking machines and welding lines, primarily targeting the consumer electronics sector[49]. - The laser cutting equipment for sheet metal is applicable in industries such as automotive and machinery, with capabilities for cutting various metal materials[56]. - The company has developed a comprehensive automated laser cutting technology for full-screen displays, achieving a cutting precision of ≤±30um and a cutting yield of 99.9%[121]. Financial Overview - The company signed new orders worth approximately ¥25 billion in 2020, a 56% increase from ¥16 billion in 2019, with backlog orders growing to ¥17 billion, up 112% from ¥8 billion[151]. - The comprehensive gross margin decreased by 5.98 percentage points in 2020 compared to 2019[171]. - The accounts receivable aged over one year increased to 213.90 million yuan, accounting for 37.49% of total receivables[175]. - The cost of goods sold was ¥925,224,857.60, which increased by 40.78% compared to the previous year[183]. - The gross margin for the general laser and automation equipment segment decreased by 4.75 percentage points to 31.54%[188]. - Revenue from the power battery laser and automation equipment segment grew by 46.20% year-on-year[190]. - Overseas revenue surged by 246.97%, primarily due to new clients such as Tesla and increased sales to Apple[188].