长虹华意(000404) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥10,452,989,086.51, representing a 9.01% increase compared to ¥9,589,210,837.07 in 2019[18]. - The net profit attributable to shareholders for 2020 was ¥116,035,057.67, a significant increase of 278.87% from ¥30,626,402.76 in 2019[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for 2020 was CNY 55,841,069.05, an increase of 57.70% compared to CNY 35,410,248.15 in 2019[19]. - The basic and diluted earnings per share for 2020 were CNY 0.1667, representing a significant increase of 278.86% from CNY 0.0440 in 2019[19]. - The total assets at the end of 2020 reached CNY 10,938,363,652.13, reflecting a growth of 6.73% from CNY 10,248,441,712.99 at the end of 2019[19]. - The company’s net assets attributable to shareholders increased by 3.22% to CNY 3,317,166,650.85 at the end of 2020 from CNY 3,213,643,255.33 at the end of 2019[19]. - The company reported a total of CNY 60,193,988.62 in non-recurring gains for 2020, compared to a loss of CNY 4,792,295.55 in 2019[25]. - The net cash flow from operating activities decreased by 28.43% to CNY 559,987,600.10 in 2020 from CNY 782,449,500.70 in 2019[19]. Dividend Policy - The company plans to distribute a cash dividend of ¥1.00 per 10 shares (including tax) based on a total of 695,995,979 shares[6]. - The company declared a cash dividend of 1.00 CNY per 10 shares for the 2020 fiscal year, totaling 69,599,597.90 CNY, which represents 59.98% of the net profit attributable to shareholders[128]. - In 2019, the cash dividend was 0.20 CNY per 10 shares, amounting to 13,919,919.58 CNY, which accounted for 45.28% of the net profit attributable to shareholders[128]. - The total distributable profit for the parent company in 2020 was 14,758,507.38 CNY, with the cash dividend representing 471.59% of this amount[130]. - The company has maintained a consistent cash dividend policy, aligning with industry standards and regulations[132]. Business Operations - The company has not changed its main business since its establishment, maintaining a focus on compressor manufacturing[16]. - The company continued to focus on its core business of refrigerator compressors while also developing new products in the fields of new energy vehicle air conditioning compressors and cleaning robots[28]. - The company faced challenges in 2020 due to the COVID-19 pandemic, but saw a surge in demand for freezer products, leading to a significant increase in orders for its ice compressor products[30]. - The company established a research and development center for commercial compressors, which is expected to enhance its competitive capabilities in this sector[31]. - The company achieved a total compressor production of 56.36 million units, reflecting a year-on-year growth of 13.93%[37]. - The company reported a significant reduction in inventory for compressors, down 51.90% to 165,000 units[54]. - The company has maintained its listing on the Shenzhen Stock Exchange under the stock code 000404[13]. Market and Sales Performance - In 2020, the company's compressor sales reached 55.63 million units, a year-on-year increase of 15.41%, maintaining its position as the global leader in the refrigerator compressor industry[37]. - The revenue from the compressor segment was ¥7,117,054,022.82, accounting for 68.09% of total revenue, with a year-on-year growth of 11.95%[50]. - Domestic sales reached ¥6,898,352,526.09, representing 66.00% of total revenue, with a year-on-year growth of 13.82%[50]. - The overall market for refrigerators in China grew by 16.99% in 2020, with the compressor industry growing by 15.15%[42]. - The company maintained a global market share of over 20%, with strong relationships with major refrigerator manufacturers, enhancing its brand value and recognition[39]. Research and Development - The company's R&D capabilities were enhanced, resulting in the issuance of 63 patents and the launch of new products, including the "Cool Ice Dual Star" series, which features advanced performance and market competitiveness[38]. - Research and development expenses increased by 24.81% to CNY 396,295,782.25, accounting for 3.79% of total operating revenue[65]. - The number of R&D personnel decreased by 5.61% to 538, while the proportion of R&D personnel to total employees fell to 6.91%[65]. - The company plans to enhance its R&D capabilities by collaborating with other enterprises and institutions, aiming to reduce fixed asset investments and improve efficiency[99]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements made in the annual report[6]. - The company has detailed potential risks and countermeasures in the section discussing future development prospects[6]. - The company has implemented a risk management system for foreign exchange transactions to mitigate risks associated with exchange rate fluctuations[89]. - The company anticipates challenges in 2021 due to rising prices of key raw materials like copper, aluminum, and steel, which may impact profitability[106]. Corporate Governance - The company has adhered to all relevant laws and regulations regarding cash dividends, ensuring compliance with corporate governance standards[132]. - The company has a history of fulfilling its commitments related to shareholder returns and governance practices[133]. - The company has not faced any litigation or arbitration related to the performance commitments as of the report date[135]. - The company has not encountered any major accounting errors requiring retrospective restatement during the reporting period[147]. Strategic Investments - The company is committed to strategic investments in automation and intelligent manufacturing to drive future growth[84]. - The company has reduced the planned investment scale for the share placement project from 625.20 million yuan to 227.20 million yuan, with the remaining funds of 398 million yuan permanently supplementing working capital[94]. - The company has approved a plan to invest up to 1.5 billion CNY in low-risk financial products and high-credit securities, with a dynamic balance that can be rolled over[176]. Environmental and Social Responsibility - The company has established an environmental management system according to ISO 14001 standards and received third-party certification[193]. - The company has implemented environmental monitoring plans, ensuring that pollutant emissions meet national standards[192]. - The company has been recognized as a leading taxpayer for several consecutive years, contributing to local employment and economic stability[185].