VISHEE(SH:688580)2021-04-07 16:00Financial Performance - The company's operating revenue for 2020 was CNY 378.37 million, an increase of 18.66% compared to CNY 318.87 million in 2019[23]. - The net profit attributable to shareholders for 2020 was CNY 143.66 million, representing a growth of 44.07% from CNY 99.72 million in 2019[23]. - The net cash flow from operating activities for 2020 was CNY 120.76 million, a decrease of 14.64% compared to CNY 141.47 million in 2019[23]. - The company's total assets at the end of 2020 were CNY 1,540.44 million, up 281.09% from CNY 404.22 million at the end of 2019[23]. - The basic earnings per share for 2020 was CNY 2.4608, an increase of 26.50% from CNY 1.9453 in 2019[24]. - The company reported a total of CNY 15.31 million in non-recurring gains and losses for 2020, compared to CNY 5.22 million in 2019[27]. - The main business revenue increased by CNY 59.60 million to CNY 376.63 million, reflecting a growth of 18.80% compared to the previous year[89]. - The main business cost rose to CNY 99.53 million, an increase of 19.39% year-on-year[89]. - The gross profit margin for the main business slightly decreased by 0.13 percentage points to 73.57%[91]. - The revenue from magnetic stimulation products grew by 46.32% due to successful product development and market promotion[92]. - The revenue from electrophysiological products increased by 47.62%, driven by the launch of a new product and sales growth of existing products[92]. Research and Development - Research and development expenses accounted for 9.06% of operating revenue in 2020, an increase of 0.47 percentage points from 8.59% in 2019[24]. - The total R&D expenditure for the year was ¥34,287,376.78, representing a 25.21% increase compared to the previous year, with R&D expenditure as a percentage of operating income at 9.06%[56]. - The number of R&D personnel increased to 125, representing 22.81% of the total workforce, up from 17.67% in the previous year[64]. - The average salary of R&D personnel was 224,373.14 RMB, slightly up from 223,593.51 RMB in the previous year[64]. - The company has developed advanced technologies in electrical stimulation, magnetic stimulation, and rehabilitation robots, focusing on clinical applications and integration of various treatment techniques[50]. - The company is actively researching machine vision-based functional electrical stimulation and intelligent electrical stimulation technologies to enhance rehabilitation outcomes[50]. - The cognitive dysfunction treatment software II generation product is currently in the R&D phase, indicating ongoing innovation efforts[61]. - The company has launched several models of the Ruiyi II biological stimulation feedback device, with a total investment of ¥1,960,000 and a cumulative investment of ¥1,761,290[59]. - The company is developing a stroke rehabilitation robot system, which is expected to be completed in 2021 due to delays caused by the pandemic[55]. Market and Product Development - The company focuses on rehabilitation medical devices utilizing magnetic stimulation technology, including main equipment and supporting stimulation coils[13]. - The company reported advancements in rehabilitation robots that assist patients in regaining motor functions, integrating multiple disciplines such as robotics and control science[13]. - The company is developing new technologies for neuromuscular electrical stimulation to enhance muscle recovery and improve patient outcomes[14]. - The company aims to address postpartum recovery issues, including urinary incontinence and pelvic pain, through targeted rehabilitation training[13]. - The company is expanding its product line to include cognitive function rehabilitation tools for patients with learning and memory disorders[14]. - The company is exploring market expansion opportunities in the field of neurological rehabilitation, particularly for stroke and Parkinson's disease patients[13]. - The company is committed to research and development of transcranial magnetic stimulation (TMS) technology to treat various neurological conditions[14]. - The company is focusing on expanding its product lines in the fields of gynecology, rehabilitation, and non-medical institutions, targeting conditions such as stress urinary incontinence and pelvic organ prolapse[59]. - The company is leveraging artificial intelligence and big data technologies to enhance treatment effectiveness in rehabilitation[112]. - The company is exploring new business opportunities in transcranial magnetic therapy for depression and cognitive rehabilitation for dementia patients, as well as expanding into international markets[119]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Tianheng Accounting Firm[4]. - There are no non-operating fund occupations by controlling shareholders or related parties[7]. - The company does not have any special arrangements for corporate governance[6]. - The company has confirmed that all board members can guarantee the authenticity, accuracy, and completeness of the annual report[8]. - The company has established a clear framework for dividend distribution based on its financial health and investment needs[124]. - The company is focused on resolving related party transactions to enhance transparency and governance[131]. - The company is committed to addressing land ownership issues to mitigate potential legal risks[132]. - The company has outlined a strategy for dividend distribution to enhance shareholder value[132]. - The company is committed to transparency and accuracy in its disclosures, ensuring no false statements or omissions are made[185]. - The company will ensure compliance with the stock price stabilization plan for three years post-IPO, urging all related parties to fulfill their obligations[161]. Shareholder Commitments and Dividends - The company plans to distribute a cash dividend of RMB 10.51 per 10 shares, totaling approximately RMB 71.83 million, representing a 50% cash dividend payout ratio for 2020[5]. - The company commits to a minimum cash dividend distribution of 30% of the average distributable profit over the last three years post-IPO, provided there are no major investment plans[123]. - The company has achieved a consistent cash dividend ratio of 50% for the past three years, indicating stable profitability and shareholder returns[126]. - The company has outlined conditions under which it may opt for stock dividends if cash dividends exceed 10% of distributable profits[123]. - The company’s board has approved the dividend distribution plan, pending shareholder meeting approval[125]. - The company will ensure that any necessary related party transactions are conducted fairly and in accordance with legal and regulatory requirements[182]. - The company has pledged to avoid any misuse of company assets for unrelated investments or consumption activities[181]. - The company will publicly explain and apologize for any violations of these commitments, accepting regulatory measures if necessary[180]. - The company will ensure that any changes in shareholdings are disclosed in accordance with the law and will accept penalties for any violations[145]. - The company will comply with regulations regarding major violations that could lead to delisting, ensuring no share reduction during that period[133].