AHTHGC(SZ:000901)2021-04-29 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 profit attributable to shareholders after deducting non-recurring gains and losses was -¥724,583,368.45, down 616.20% from ¥140,368,789.32 in 2019[26]. - The net cash flow from operating activities was ¥58,365,764.20, an 82.17% decrease from ¥327,272,314.60 in 2019[26]. - The total assets at the end of 2020 were ¥7,309,676,732.28, an increase of 4.31% 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% from ¥0.2616 in 2019[26]. - The weighted average return on equity was -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 overseas revenue accounted for 58.69% of total revenue, reflecting a 15.39% decline year-on-year[72]. Business Operations - The company has not changed its main business since its listing, indicating stability in operations[24]. - The company operates in five major business segments, including aerospace applications, automotive electronics, and industrial IoT, with products sold across 31 provinces and over 30 countries[41]. - The company has established a lightning and static protection engineering laboratory to meet the urgent demand for lightning and static protection testing in aerospace applications[41]. - The company has established a comprehensive quality management system and leading high-voltage testing technology to meet diverse industry needs[47]. - The company has formed strategic partnerships with major automotive manufacturers such as BMW and Volkswagen, as well as key players in the energy sector, establishing a solid foundation for sustainable business development[58]. Market Trends and Challenges - The company reported a significant impact from the COVID-19 pandemic, which introduced various risks including global spread, industry cycle fluctuations, and raw material price volatility[7]. - The global automotive sales dropped by 17.2% in 2020, with recovery expected to take at least two years, potentially reaching 2019 levels by 2023[44]. - The company is focusing on cost control and new customer development in response to the dual pressures of the pandemic and economic downturn[44]. - The company has identified several risk factors that could adversely affect its future development, including government subsidy policy changes[7]. 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 company invested ¥355,553,689.32 in research and development, a 22.95% increase from the previous year[90]. - The company’s automotive electronics business leverages over 20 years of R&D experience and has established a strong brand presence in the high-end commercial vehicle market[43]. - The company is committed to maintaining a market-oriented pricing strategy to ensure competitiveness in the aerospace industry[200]. Strategic Initiatives - The company aims to implement five strategic initiatives: innovation-driven, brand victory, capital introduction, quality-based, and talent empowerment[131]. - The focus for the next fiscal year includes enhancing market competitiveness and value creation capabilities, particularly in automotive electronics and sensors[134]. - The company plans to deepen cooperation with major clients in the automotive sector and expand into commercial vehicle markets[134]. - The company intends to expand its IoT services in the oil and gas sector, leveraging machine learning technologies[134]. Corporate Governance and Compliance - The company guarantees the independence of its operations, assets, and financial management to protect the interests of other shareholders[156]. - The company will ensure that its financial personnel operate independently and will not engage in any dual roles with related enterprises[156]. - The company has committed to maintaining the independence of the listed company's financial operations, including independent banking and accounting systems[162]. - The company will ensure timely information disclosure regarding any related party transactions to uphold transparency and accountability[173]. Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares for the year[7]. - The company did not propose any 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]. - The company has committed to a cash dividend distribution of no less than 30% of the average distributable profit achieved from 2017 to 2019, ensuring compliance with relevant regulations[174].