AHTHGC(SZ:000901)2021-03-30 16:00Financial Performance - The company's operating revenue for 2020 was ¥5,349,571,693.67, a decrease of 9.82% compared to ¥5,931,888,844.84 in 2019[26]. - The net profit attributable to shareholders for 2020 was -¥664,444,008.41, representing a decline of 513.61% from ¥160,644,301.59 in 2019[26]. - The net cash flow from operating activities in 2020 was ¥58,365,764.20, down 82.17% from ¥327,272,314.60 in 2019[26]. - The total assets at the end of 2020 increased by 4.31% to ¥7,309,676,732.28 from ¥7,007,661,704.85 at the end of 2019[26]. - The basic earnings per share for 2020 was -¥0.8458, a decrease of 423.32% compared to ¥0.2616 in 2019[26]. - The company reported a weighted average return on equity of -17.51% in 2020, down 21.42% from 3.91% in 2019[26]. - The company's total revenue for the reporting period was 5.35 billion yuan, a decrease of 9.82% year-on-year[72]. - The net profit attributable to shareholders was -664 million yuan, a decline of 513.61% compared to the previous year[72]. - The automotive electronics manufacturing segment generated 4.27 billion yuan in revenue, down 10.46% year-on-year[73]. - The foreign revenue accounted for 58.69% of total revenue, reflecting a 15.39% decrease year-on-year[72]. COVID-19 Impact - The company reported a significant impact from the COVID-19 pandemic, which poses risks to future development, including industry cycle fluctuations and raw material price volatility[7]. - The company is actively developing new customers and controlling costs in response to the challenges posed by the pandemic and economic downturn[44]. - The company has received recognition for its effective integration of pandemic response and operational management, winning the 2020 "Gold Quality" Excellent Party Building Award[53]. Business Strategy and Development - The company aims to implement five strategic initiatives: innovation-driven, brand supremacy, capital introduction, quality-oriented, and talent empowerment to enhance core competitiveness[130]. - The company plans to focus on market-oriented strategies to optimize its industrial structure and operational quality while fostering new projects and industry directions[133]. - The company is committed to enhancing its capabilities in high-voltage testing equipment and expanding its market presence in both domestic and overseas markets[134]. - The oil equipment business will focus on expanding the oil and gas production IoT market in Xinjiang and leveraging machine learning for diagnostic functions[134]. - The company emphasizes the importance of quality in its operations, aiming to create high-performance, high-quality products that meet market demands[133]. Research and Development - Research and development expenses amounted to ¥406,875,173.65, a 4.67% increase compared to 2019, representing 7.61% of operating revenue[93][94]. - The number of R&D personnel decreased by 1.61% to 979, while the R&D personnel ratio slightly increased to 15.48%[94]. - The company has over 20 years of experience in automotive electronics R&D and production, providing a competitive edge in product diversity and cost advantages[43]. Corporate Governance and Compliance - The company guarantees the independence of its operations, assets, and financial management to protect the rights of other shareholders[156]. - The company will not engage in unfair related party transactions and will adhere to market principles in any necessary transactions[156]. - The company has established an independent financial accounting department and management system[156]. - The company will ensure timely information disclosure regarding any related party transactions[171]. Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares for the year 2020[146]. - The company did not propose a cash dividend distribution plan for the reporting period despite having a positive profit available for distribution to ordinary shareholders[151]. - The company's profit distribution policy aims to enhance transparency and ensure shareholder rights[146]. Audit and Financial Reporting - The company has appointed Deloitte Touche Tohmatsu CPA Ltd. as its auditing firm for the reporting period[25]. - The company engaged the accounting firm Deloitte Touche Tohmatsu as its auditor for the 2020 fiscal year, with an audit fee of ¥2.76 million[186]. - The company did not face any delisting situations or bankruptcy reorganization matters during the reporting period[190]. - There were no significant litigation or arbitration matters reported during the period[191]. Market Presence and Product Development - The company has a diversified business presence across 31 provinces in China and over 30 countries globally, focusing on aerospace applications, automotive electronics, and industrial IoT[41]. - The domestic automotive electronics business achieved revenue of 455 million yuan in 2020, a 52.71% increase from 298 million yuan in the previous year, outperforming the average industry growth in the domestic automotive and commercial vehicle market[43]. - The company is focusing on market expansion and new product development to enhance its competitive position in the aerospace sector[199].