NOVEL(SZ:002014)2021-02-08 16:00Financial Performance - The company's operating revenue for 2020 was CNY 2,737,497,376.96, representing a 5.30% increase compared to CNY 2,599,724,041.24 in 2019[16] - The net profit attributable to shareholders for 2020 was CNY 303,032,141.63, which is a 12.60% increase from CNY 269,116,549.45 in 2019[16] - The net profit after deducting non-recurring gains and losses was CNY 275,681,402.93, up 15.69% from CNY 238,302,049.39 in 2019[16] - The net cash flow from operating activities increased by 28.05% to CNY 548,623,540.95 from CNY 428,432,150.13 in 2019[16] - The total assets at the end of 2020 were CNY 2,954,630,295.32, a 16.06% increase from CNY 2,545,851,954.52 at the end of 2019[17] - The weighted average return on equity for 2020 was 16.19%, compared to 15.17% in 2019, reflecting a 1.02% increase[16] - The basic earnings per share for 2020 were CNY 0.61, up 12.96% from CNY 0.54 in 2019[16] Revenue Breakdown - The rubber and plastic products sector contributed ¥2.54 billion, accounting for 92.63% of total revenue, with a growth of 4.24% compared to the previous year[38] - The sales volume of color printing packaging materials reached 85,982.85 tons, a 2.12% increase from 84,200.85 tons in 2019[41] - The international market revenue was approximately ¥229.43 million, showing a slight increase of 0.48% from ¥227.72 million in 2019[38] - The domestic market revenue was approximately ¥2.51 billion, reflecting a growth of 5.76% from ¥2.37 billion in 2019[38] - The sales volume of aluminum-plated packaging materials surged by 34.90%, reaching 3,923.81 tons compared to 2,908.74 tons in 2019[41] Dividend Policy - The company plans to distribute a cash dividend of CNY 5 per 10 shares, based on a total of 510,409,889 shares[4] - The cash dividend for 2020 represents 84.22% of the net profit attributable to the company's ordinary shareholders, which was 303,032,141.63 CNY[75] - The company has maintained a consistent cash dividend policy over the past three years, with dividends of 3.50 CNY, 4.00 CNY, and 5.00 CNY per 10 shares for 2018, 2019, and 2020 respectively[72] Research and Development - The company filed for 27 invention patents and 13 utility model patents, with 5 invention patents and 15 utility model patents granted in 2020[28] - Research and development expenses increased by 11.45% to ¥112,772,451.17 in 2020, compared to ¥101,190,953.28 in 2019[46] - The company plans to increase R&D investment and enhance technological innovation to strengthen its competitive advantage in the packaging market[63] Market Expansion and Product Development - The company launched new products including breathable films and self-adhesive films, which received market recognition and expanded product applications[32] - The company expanded its market presence by leveraging regional advantages and actively developing domestic clients[32] - The company’s new multi-functional film project is expected to drive future growth and enhance profitability[26] Cost Management and Efficiency - The company implemented extreme cost management strategies to optimize manufacturing costs and improve overall production efficiency[33] - The company achieved a gross profit margin of 23.29% in the rubber and plastic products sector, which is a decrease of 0.37% compared to the previous year[39] Corporate Governance and Compliance - The company has established a management committee for the employee stock ownership plan, consisting of three members elected on August 31, 2020[95] - The governance structure complies with relevant laws and regulations, ensuring transparency and protection of shareholder rights[163] - The company operates independently from its controlling shareholder in terms of business, personnel, assets, organization, and finance[166] Environmental and Social Responsibility - The company has committed to sustainable development by increasing environmental protection investments and developing eco-friendly packaging materials[109] - The company emphasizes safety and environmental protection, successfully obtaining the "Pollutant Discharge Permit" during the reporting period[35] - The company donated 600,000 yuan to the Huangshan Red Cross for COVID-19 prevention efforts[109] Audit and Financial Reporting - The audit report issued by Rongcheng Accounting Firm confirmed that the financial statements fairly reflect Yongxin Co.'s financial position and operating results for the year ended December 31, 2020[182] - The audit did not reveal any material misstatements in the financial statements, supporting the integrity of Yongxin Co.'s financial reporting[190] - The internal control audit report confirmed that the company maintained effective financial reporting internal controls as of December 31, 2020[177]