海信家电(000921) - 2020 Q4 - 年度财报

Financial Performance - In 2020, Hisense Home Appliances achieved a revenue of CNY 48.393 billion and a net profit attributable to shareholders of CNY 1.579 billion, with earnings per share of CNY 1.16[11]. - The company's operating revenue for 2020 was CNY 48.39 billion, an increase of 29.21% compared to CNY 37.45 billion in 2019[21]. - The net profit attributable to shareholders for 2020 was CNY 1.58 billion, a decrease of 11.97% from CNY 1.79 billion in 2019[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1.10 billion, down 10.63% from CNY 1.23 billion in 2019[21]. - The net cash flow from operating activities increased by 197.34% to CNY 5.96 billion from CNY 2.01 billion in 2019[21]. - The total assets at the end of 2020 were CNY 41.81 billion, a 23.01% increase from CNY 33.99 billion at the end of 2019[22]. - The net assets attributable to shareholders at the end of 2020 were CNY 9.78 billion, up 12.13% from CNY 8.72 billion at the end of 2019[22]. - The company achieved a year-on-year revenue growth of 5.33% when excluding the impact of the acquisition of Hisense Hitachi[22]. Market Position and Strategy - The company maintained a strong market position, ranking second in the refrigerator market with a combined retail market share of its brands[30]. - Hisense actively participated in the formulation and revision of multiple technical standards, enhancing its technological leadership in the industry[12]. - The company plans to accelerate its transformation and upgrade strategy, focusing on high-quality products in the refrigerator, central air conditioning, and home air conditioning sectors[14]. - Hisense aims to deepen its research and development in washing machines, commercial cold chain, and kitchen and bathroom products to achieve comprehensive market coverage[14]. - The company launched a series of high-end new products focusing on "health and comfort" in response to consumer needs during the pandemic[11]. Product Performance - The company’s air conditioning business reported a main operating income of 23.386 billion yuan, an increase of 42.87% year-on-year[44]. - The ice washing business generated a main operating income of 18.709 billion yuan, up 16.00% year-on-year[44]. - Domestic sales contributed 29.205 billion yuan in main operating income, growing by 28.59% year-on-year[44]. - International sales reached 14.639 billion yuan, reflecting a year-on-year increase of 27.47%[44]. - The refrigerator and washing machine segment achieved revenue of ¥18.71 billion, a 16.00% increase from ¥16.13 billion in 2019[51]. Research and Development - The company has a robust R&D team of nearly 1,700 high-level researchers and technical experts, focusing on continuous technological innovation[34]. - The company has established a global R&D innovation system to meet differentiated market demands and enhance its core competitiveness[34]. - R&D expenses increased by 37.50% to ¥1,284,848,949.46, primarily due to increased investment in R&D[61]. - R&D investment amounted to ¥1,532,348,263.57, a 35.04% increase from the previous year, with R&D investment accounting for 3.17% of operating revenue[63]. Dividend and Shareholder Information - The company announced a cash dividend of CNY 3.47 per 10 shares, based on a total of 1,362,725,370 shares[4]. - The cash dividend for 2020 is proposed at 3.47 CNY per 10 shares, totaling approximately 472.87 million CNY[89]. - The company has consistently maintained a cash dividend payout ratio of 30% over the past three years[94]. - The total number of shares for the dividend distribution is based on 1,362,725,370 shares as of December 31, 2020[95]. Risks and Challenges - The company faces risks including macroeconomic fluctuations that may reduce consumer demand for home appliances[86]. - Rising raw material costs and labor expenses could negatively impact the company's profitability[86]. - Trade protectionism and barriers may increase operational costs and affect export competitiveness[86]. - Significant fluctuations in the RMB exchange rate could impact the cost competitiveness of exported products[86]. Corporate Governance and Compliance - The company has not faced any bankruptcy reorganization or major litigation during the reporting period[104][105]. - The audit committee reviewed the 2020 annual financial report and confirmed that it accurately reflects the company's operating conditions[195]. - The company maintained effective communication with the annual audit firm throughout the audit process, ensuring timely completion of the audit work[196]. - The company has not reported any changes in its controlling shareholder during the reporting period[148]. Environmental and Social Responsibility - The company has established wastewater treatment facilities that meet the Class B standards of the "Discharge Standard for Pollutants from Municipal Wastewater Treatment Plants" (CJ343-2010)[131]. - The company has implemented air pollution control measures that comply with the "Comprehensive Emission Standard of Air Pollutants" (GB16297-1996)[131]. - The company has developed an emergency response plan for environmental incidents and conducts regular drills to ensure its effectiveness[131]. Employee Information - The total number of employees in the company is 39,499, with 20,154 in production, 13,350 in sales, and 5,256 in technical roles[177]. - The educational background of employees includes 35 with a doctorate, 1,073 with a master's degree, 5,552 with a bachelor's degree, and 32,839 with education below a bachelor's degree[178]. - The company conducted over 380,000 training hours for employees, covering various levels from frontline production to management[180].