FENGHUA(SZ:000636)2021-03-22 16:00Financial Performance - The company's operating revenue for 2020 was CNY 4,331,979,621.51, representing a 31.54% increase compared to CNY 3,293,174,130.40 in 2019[23]. - The net profit attributable to shareholders of the listed company was CNY 358,709,137.02, a 5.86% increase from CNY 338,849,751.64 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 431,573,388.92, which is a 66.70% increase compared to CNY 258,886,706.05 in 2019[23]. - The basic earnings per share for 2020 was CNY 0.40, up 5.26% from CNY 0.38 in 2019[23]. - The gross profit margin for the reporting period was 29.65%, an increase of 5.67 percentage points year-on-year, with the gross margin for chip resistors growing by over 10 percentage points[50]. - The company achieved a revenue of 4.332 billion yuan in 2020, representing a year-on-year growth of 31.54%[50]. - The net profit attributable to shareholders was 359 million yuan, with a year-on-year increase of 5.86%, while the net profit after deducting non-recurring gains and losses reached 432 million yuan, up 67.03%[50]. - The company's cash flow from operating activities in Q4 was CNY 326,589,212.69, showing a strong recovery compared to Q3[29]. Cash Flow and Investments - The net cash flow from operating activities was CNY 665,592,447.66, showing a decrease of 16.03% from CNY 792,632,692.84 in the previous year[23]. - The company's cash and cash equivalents increased by 32.55% year-on-year, indicating improved liquidity[39]. - The total investment amount for the reporting period reached ¥1,415,220,161.83, a significant increase of 254.77% compared to ¥398,914,715.64 in the previous year[88]. - The company has invested ¥934,258,700.21 in the construction of the Xianghe Industrial Park high-end capacitor base project, which is progressing as planned[91]. - Investment activities generated a net cash outflow of approximately 866.10 million, a significant decrease of 393.24% year-on-year[77]. - Financing activities saw a net cash inflow of approximately 704.55 million, a substantial increase of 316.98% compared to the previous year[76]. Market and Product Development - The company reported a significant increase in user data, with a focus on expanding its market presence and enhancing product offerings[8]. - Future outlook indicates a commitment to new product development and technological advancements to drive growth[8]. - The company is exploring market expansion opportunities and potential mergers and acquisitions to strengthen its competitive position[8]. - The company is focusing on high-end markets such as automotive electronics and communication through innovation and R&D[72]. - The company plans to enhance its production capacity and technology level to reduce the gap with international peers, particularly in passive components like MLCC[103]. Research and Development - The company applied for 52 domestic patents in 2020, including 35 invention patents, and received 51 domestic authorized patents, with 22 being invention patents[44]. - The company’s R&D investment reached 230 million yuan, accounting for over 5% of revenue, marking a historical high[53]. - The number of R&D personnel rose by 6.61% to 1,274, while R&D investment as a percentage of operating income increased to 5.33%[73]. Corporate Governance and Shareholder Returns - The company announced a cash dividend of 0.50 CNY per 10 shares for the fiscal year 2020, totaling 44,761,655.55 CNY, which represents 12.48% of the net profit attributable to ordinary shareholders[120]. - The company has established a clear profit distribution policy in its articles of association, ensuring the sustainability and stability of its dividend policy[111]. - The total cash dividends distributed over the past three years amount to 31,333.16 million CNY, which is 54.82% of the average annual net profit attributable to shareholders from 2018 to 2020[120]. - The company has a three-year shareholder return plan (2021-2023) to further refine its dividend policy[111]. Legal and Compliance Issues - There are ongoing legal disputes involving the company, with a total claimed amount of ¥16,781.42 million from 96 investors regarding false statements, which has been recognized as a contingent liability[142]. - The company has incurred legal costs related to ongoing litigation, with a total case acceptance fee of RMB 192,863 and a property preservation fee of RMB 5,000[146]. - The company has not faced any bankruptcy reorganization matters during the reporting period[141]. - The company has not reported any significant accounting errors that required retrospective restatement during the reporting period[135]. Social Responsibility and Environmental Management - The company received recognition as an advanced unit in the fight against COVID-19 in Zhaoqing City, highlighting its commitment to social responsibility[171]. - The company has implemented environmental protection measures, including the addition of a sixth RTO treatment project to enhance waste gas management[173]. - The company’s environmental management efforts have been recognized, with three production units awarded the title of "Health Promotion Enterprises" in Guangdong Province[173]. - The company has established a robust poverty alleviation mechanism to ensure stable income for impoverished households and prevent any return to poverty[175]. Operational Performance - The company achieved a significant increase in employee welfare expenses, with a year-on-year growth of nearly 100%[173]. - The company’s stock market value doubled during the reporting period, reflecting improved operational performance and shareholder value[173]. - The company has established and is operating 6 sets of exhaust gas treatment equipment, achieving compliance with emission standards for various pollutants including benzene and total VOCs[183]. - The wastewater treatment facility processed a total of 65.74 million tons of wastewater, with an annual capacity of 70 million tons, also showing no exceedance of discharge standards[183].