四川九洲(000801) - 2020 Q4 - 年度财报

Dividend Distribution - The company plans to distribute a cash dividend of 0.26 RMB per 10 shares to all shareholders, based on a total of 1,022,806,646 shares[5]. - The cash dividend for 2020 represents 34.63% of the net profit attributable to ordinary shareholders, which is 76,791,455.83 yuan[128]. - The total distributable profit for the year is reported at 181,852,465.57 yuan[130]. - The company did not distribute any dividends in 2019, maintaining a focus on reinvestment[128]. - The total number of shares for the dividend distribution is 1,022,806,646 shares[130]. Shareholder Information - The company’s controlling shareholder, Sichuan Jiuzhou Electric Group Co., Ltd., holds 486,907,288 shares, representing 47.61% of the total share capital[18]. - The company’s actual controller remains the State-owned Assets Supervision and Administration Commission of Mianyang City, despite changes in the controlling shareholder[18]. - The company has completed the transfer of shares to the newly established Jiuzhou Group following a division of its controlling shareholder[18]. - The total number of shares outstanding is 1,022,806,646, with 100% being unrestricted shares[200]. Financial Performance - The company's operating revenue for 2020 was CNY 3,299,940,240.89, representing a 4.71% increase compared to the adjusted revenue of CNY 3,151,427,389.36 in 2019[20]. - The net profit attributable to shareholders for 2020 was CNY 76,791,455.83, a significant increase of 96.22% from the adjusted net profit of CNY 39,135,150.64 in 2019[20]. - The net cash flow from operating activities reached CNY 362,044,455.22, marking a 109.16% increase compared to CNY 173,090,666.95 in 2019[20]. - The basic earnings per share for 2020 was CNY 0.0383, up 96.08% from CNY 0.0266 in 2019[20]. - The total assets at the end of 2020 were CNY 5,025,126,011.91, a decrease of 14.59% from CNY 5,883,866,069.42 at the end of 2019[20]. - The net assets attributable to shareholders increased by 3.89% to CNY 2,588,036,078.99 at the end of 2020, compared to CNY 2,491,037,604.77 at the end of 2019[20]. Business Operations - The company has undergone changes in its main business operations, including the sale of stakes in Jiuzhou Information and Jiuzhou Optoelectronics, and the acquisition of Jiuzhou Difei, which has affected the scope of consolidation[18]. - The company completed the divestiture of its information system and optical communication businesses, focusing on the acquisition of microwave RF business[44]. - The company is focused on expanding its air traffic management business, developing core products with independent intellectual property rights[30]. - The smart terminal business includes the development and sales of digital audio and video terminals, with products such as ultra-high-definition set-top boxes and AI set-top boxes[29]. - The company is actively involved in the development of 5G and AI technologies, enhancing its competitive edge in the smart terminal sector[40]. Market Position and Strategy - The company has a strong market position in the cable set-top box sector, with a leading market share according to Gran Research data[33]. - The company is recognized as a national high-tech enterprise and has accumulated 331 independent patents and 39 software copyrights[35]. - The air traffic management (ATM) business continues to grow, supported by the acquisition of upstream microwave RF products[44]. - The company aims to become a leading provider of military and civilian electronic information equipment and services in China[106]. - The company plans to enhance its air traffic management (ATM) systems and related avionics by focusing on a "2x2" business model, targeting both domestic and international markets[108]. Investment and Financial Management - The company’s financial report has been confirmed for authenticity and completeness by its management team[3]. - The company reported a significant increase in cash and cash equivalents, with a net increase of ¥158,929,660.97, representing a 1,452.53% rise[73]. - The company’s R&D investment increased by 32.08% in 2020, reaching ¥333,131,268.22, which is 10.10% of the operating revenue[69]. - The company has established a comprehensive corporate governance structure to protect shareholder rights and ensure transparent information disclosure[178]. - The company has engaged Xinyong Zhonghe Accounting Firm for internal control audit services, with a fee of 250,000 yuan[144]. Risks and Challenges - The company emphasizes the importance of risk awareness regarding forward-looking statements made in the annual report[4]. - The company faces risks from market competition, particularly in the saturated smart terminal market, and will enhance its R&D and marketing capabilities to improve competitiveness[117]. - Supply chain tensions due to the pandemic and trade issues may impact profitability, prompting the company to strengthen partnerships with domestic suppliers[118]. - The company will prioritize working with high-credit clients to mitigate accounts receivable risks, ensuring timely collection of outstanding payments[119]. Acquisitions and Divestitures - The company acquired a 51.936% stake in Chengdu Jiuzhou Difei Technology Co., Ltd. for ¥136.23 million, with the share transfer completed[83]. - The company transferred 92.593% equity of Jiuzhou Information to Jiuzhou Electric, with a transfer price of 422.0743 million CNY, while the assessed value was 455.8402 million CNY[152]. - Jiuzhou Technology transferred 100% equity of Jiuzhou Optoelectronics to Jiuzhou Electric for 85.9406 million CNY, with an assessed value of 85.9406 million CNY[154]. - The company has increased its consolidation scope by including Chengdu Jiuzhou Difei Technology Co., Ltd. and Chengdu Zhongweixin Technology Co., Ltd.[142]. Communication and Transparency - The company has engaged in multiple communication activities throughout 2020, primarily discussing operational conditions and the impact of the pandemic[124]. - The company has not disclosed any significant undisclosed information during the communication activities[124]. - There were no significant changes in the company's capital structure or major acquisitions reported during the year[126].