J.S. Machine(000821)2021-04-29 16:00Financial Performance - The company reported a total revenue of 1.2 billion RMB for the year 2020, representing a year-on-year increase of 15% compared to 2019[18]. - The net profit attributable to shareholders was 150 million RMB, which is a 10% increase from the previous year[18]. - The company's operating revenue for 2020 was ¥3,059,873,922.08, representing a 35.54% increase compared to ¥2,257,616,726.08 in 2019[27]. - The net profit attributable to shareholders in 2020 was ¥60,358,368.93, a significant recovery from a loss of ¥517,525,017.23 in 2019, marking an increase of 111.66%[27]. - The net profit after deducting non-recurring gains and losses was ¥34,647,801.52 in 2020, compared to a loss of ¥535,171,900.24 in 2019, reflecting a 106.47% improvement[27]. - The net cash flow from operating activities reached ¥253,282,883.73 in 2020, a remarkable increase of 557.00% from ¥38,551,463.06 in 2019[27]. - The total assets of the company at the end of 2020 were reported at 2.5 billion RMB, an increase of 12% from the previous year[18]. - The total assets at the end of 2020 were ¥6,254,522,848.84, up 24.83% from ¥5,010,417,741.08 at the end of 2019[27]. - The company reported a total revenue of 43,567.72 million RMB for the period, with a year-on-year growth of 8.61%[161]. Market Expansion and Strategy - The company plans to expand its market presence in the automotive parts sector, which has been a focus since 2010[22]. - The company has made strategic acquisitions in recent years, including the purchase of Sanxie Precision in 2015, which expanded its industrial automation and robotics business[22]. - The company is focusing on enhancing its product offerings and technological advancements to maintain competitive advantage in the market[22]. - The company plans to expand its market share in high-end product markets in Europe and North America, leveraging rapid industry development and technological upgrades[64]. - The company is actively developing core equipment for heterojunction and perovskite tandem batteries, indicating a focus on innovation and market expansion[41]. - The company has established a strong market presence, with products exported to over 20 countries, including the USA, Germany, and Japan[41]. Research and Development - Research and development efforts have been intensified, particularly in the field of photovoltaic automation, following the acquisition of Shengcheng Photovoltaic in 2017[22]. - The company holds 74 valid invention patents and 543 utility model patents as of December 31, 2020, demonstrating strong R&D capabilities[82]. - The company completed the development of several key automated equipment for solar cell production, enhancing overall production efficiency[120]. - The company aims to improve the welding yield of battery components to 99% with new welding machines[120]. - The company is developing a new automatic feeding device for betel nut, with a design qualification rate of 95%[130]. - The company has increased its R&D personnel to 869, a 42.46% increase from 610 in 2019, representing 25.03% of the total workforce[134]. Industry Trends and Challenges - The global photovoltaic market is expected to grow significantly, with over 20 countries announcing carbon neutrality goals, positioning photovoltaic energy as a key power source for the future[50]. - The cost of photovoltaic power generation has decreased by 82% from 2010 to 2019, making it more competitive compared to other renewable energy sources[51]. - The photovoltaic industry remains dependent on government subsidies, and any changes in policy could significantly affect the company's operations and performance[186]. - The company faces risks from macroeconomic downturns, which could adversely affect sales in the photovoltaic and packaging sectors[180]. - The company is also exposed to exchange rate fluctuations due to its international sales strategy, which could impact profitability[182]. Financial Management and Investments - The company has no plans to distribute cash dividends or issue bonus shares for the year 2020[6]. - The company's profit distribution plan for 2020 proposed no cash dividends, no stock dividends, and no capital reserve transfers to share capital[200]. - The cash dividend amount for 2020 was 0.00 yuan, representing 0.00% of the net profit attributable to ordinary shareholders[200]. - The company confirmed investment income of 91.56 million RMB from a foreign exchange forward contract as of December 31, 2020[164]. - The company has implemented strict internal evaluations and established regulatory mechanisms for foreign exchange derivative trading[164]. - The company reported an investment income of ¥990.64 million, accounting for 30.01% of total profit, primarily due to increased net profits from associated companies[145]. Operational Efficiency - The company has completed the development of a high-precision battery module assembly machine, which can save time by 50% through automatic tape cutting and application, with a positioning error of less than 1mm[123]. - The automated improvement of the solar cell module production line enhances efficiency and reduces material waste, ensuring a better processing environment[123]. - The JETS400-3300 intelligent corrugated board production line has a design speed of 400m/min and is equipped with advanced technology to significantly enhance product performance[123]. - The company has completed the PCB character printer project, which improves production efficiency and reduces environmental issues associated with traditional printing methods[130]. - The company has established a technical service center in Yiwu to better address customer equipment operation and maintenance issues[94]. Risk Management - The company has faced potential risks related to market fluctuations and has outlined strategies to mitigate these risks in its report[5]. - The company established a risk management committee to monitor the market price changes of derivatives and assess risk exposure regularly[164]. - The company has not experienced any significant changes in accounting policies regarding derivatives compared to the previous reporting period[164].