SMTC(SH:900927)2021-04-19 16:00Financial Performance - The company's operating revenue for 2020 was approximately CNY 7.86 billion, representing a 7.65% increase compared to CNY 7.30 billion in 2019[19]. - The net profit attributable to shareholders for 2020 was CNY 114.53 million, an increase of 86.47% from CNY 61.42 million in 2019[19]. - The basic earnings per share for 2020 was CNY 0.23, up 91.67% from CNY 0.12 in 2019[20]. - The total assets at the end of 2020 reached CNY 2.19 billion, a 36.97% increase from CNY 1.60 billion at the end of 2019[19]. - The net profit after deducting non-recurring gains and losses was CNY 50.66 million, slightly up by 0.56% from CNY 50.38 million in 2019[19]. - The company reported a total non-recurring profit and loss of 63,869,334.32 RMB in 2020, compared to 11,037,098.88 RMB in 2019[26]. - The company achieved an annual revenue of 7.856 billion yuan and a net profit attributable to shareholders of 114.5 million yuan in 2020[36]. - The company reported a net profit attributable to ordinary shareholders of RMB 11,453.41 million for 2020, with a profit distribution plan of 0[84]. - The company did not propose any cash dividend distribution for the years 2018, 2019, and 2020, maintaining a 0% payout ratio[84]. Cash Flow and Investments - The net cash flow from operating activities for 2020 was CNY 203.48 million, a decrease of 3.57% from CNY 211.01 million in 2019[19]. - Investment activities generated a net cash flow of 98.02 million RMB, a significant increase of 618.20% compared to the previous year[44]. - Cash flow from operating activities showed a net amount of 203.48 million RMB, a decrease of 3.57% year-on-year[44]. - The company reported a decrease in sales expenses by 17.61% to 94.93 million RMB[44]. - The company recorded an investment income of 49.18 million RMB from the transfer of 60% equity in Shanghai Jinqiao Thermal Power Co., Ltd., accounting for 80.07% of the previous year's audited net profit[54]. - The company reported a significant increase in investment income, totaling CNY 105,484,483.57, compared to CNY 61,077,661.11 in the previous year[166]. Market and Sales Performance - The company sold 22,180 vehicles in 2020, a year-on-year decrease of 17.11%[29]. - The used car market achieved sales of 99,600 vehicles, an increase of 2.58% year-on-year[29]. - The automotive industry in China produced 25.225 million vehicles and sold 25.311 million vehicles in 2020, with year-on-year declines of 2% and 1.9%, respectively[30]. - New car sales for the company reached 4.14 billion yuan in Q1 2020, a year-on-year decline of 41.97%, but recovered to 4.156 billion yuan for the entire year, a decrease of only 2.69%[37]. - The company’s sales of non-ferrous metals reached 3.368 billion yuan, a year-on-year increase of 30.43%, with a sales volume of 72,800 tons, up 14.46%[39]. Assets and Liabilities - Cash and cash equivalents increased to ¥889,238,569.34, representing 40.56% of total assets, up from 24.08% in the previous period, a growth of 130.78% due to increased revenue and net profit[56]. - Short-term borrowings rose to ¥146,467,693.08, accounting for 6.68% of total liabilities, an increase of 50.64% attributed to higher bank loans[56]. - Accounts payable increased significantly to ¥873,400,000.00, making up 39.84% of total liabilities, a rise of 122.61% due to an increase in bank acceptance bills[56]. - The company reported a decrease in long-term equity investments to ¥183,589,905.97, down 18.39% from the beginning of the year[58]. - The total assets of Bailian Automotive reached ¥151,991.55 million, with a net profit of ¥3,131.68 million[64]. Strategic Initiatives and Future Plans - The company aims to expand its automotive business by focusing on new brands and new energy vehicles, enhancing service capabilities, and integrating online and offline operations[71]. - The company plans to deepen its logistics services, particularly in black metal logistics, and explore value-added services in collaboration with financial institutions[72]. - The company is committed to maintaining steady growth and becoming a comprehensive service provider with market influence[70]. - The company aims to enhance resource management and improve asset efficiency through centralized management of funds and assets[74]. - The company anticipates intensified competition in the automotive market due to the impact of the COVID-19 pandemic and changing consumer policies[79]. Governance and Compliance - The company has engaged Ernst & Young Hua Ming as its auditor, with an audit fee of RMB 128.26 million for the current period[86]. - The company has maintained a governance structure that complies with relevant laws and regulations, ensuring the separation of operations from the controlling shareholder[132]. - There were no penalties imposed by securities regulatory authorities on the company in the past three years[125]. - The company operates under the accounting standards set by the Ministry of Finance, ensuring compliance with the relevant financial reporting requirements[186]. Employee and Talent Management - The total number of employees in the parent company and major subsidiaries is 992, with 39 in the parent company and 953 in subsidiaries[126]. - The company has implemented a performance-based salary system for senior management, linking performance pay directly to current operating results[127]. - The company has actively engaged in talent development programs, including the "Eagle Plan" for employee training[128]. Related Party Transactions - The company paid rental fees of RMB 15.69 million to its controlling shareholder, Bailian Group, during the year 2020[90]. - The total amount of related party transactions was RMB 1,556,603.78, which is less than 1% of the market price[92]. - The company reported rental income of RMB 14.83 million from leasing properties from Bailian Group during the year[98].