Haite(SZ:002023)2021-04-12 16:00Financial Performance - Sichuan Haite High-tech Co., Ltd. reported a total revenue of RMB 1.2 billion for the year 2020, representing a year-on-year increase of 15%[19]. - The company's net profit attributable to shareholders was RMB 150 million, an increase of 20% compared to the previous year[19]. - The company's operating revenue for 2020 was ¥964,133,093.54, representing a 19.34% increase compared to ¥807,878,768.70 in 2019[27]. - The net profit attributable to shareholders for 2020 was ¥31,703,936.20, a decrease of 58.45% from ¥76,308,602.64 in 2019[27]. - The net profit after deducting non-recurring gains and losses for 2020 was ¥30,390,450.35, showing a significant increase of 165.86% from ¥11,431,073.66 in 2019[27]. - The total operating revenue for 2020 was ¥964,133,093.54, representing a year-on-year increase of 19.34% from ¥807,878,768.70 in 2019[80]. - The main business revenue accounted for ¥923,701,403.42, which is 95.81% of total revenue, with a year-on-year growth of 18.77%[80]. - The gross profit margin for the main business was 38.27%, down 4.16% from the previous year[83]. Research and Development - The company plans to invest RMB 200 million in R&D for new products and technologies in 2021, focusing on aviation safety and training solutions[19]. - The number of R&D personnel increased by 8.19% to 317 in 2020, accounting for 25.28% of the total workforce[1]. - The company has 25 ongoing research projects, focusing on engine electronic control, rescue and life-saving, and aircraft oxygen supply systems[72]. - The company is focusing on developing new technologies with independent intellectual property rights, including several new aviation power electronic control systems and helicopter oxygen systems[1]. - The company has applied for a total of 550 patents, including 185 invention patents and 5 national defense invention patents, with 403 effective authorized patents currently obtained[65]. Market Expansion and Strategy - Sichuan Haite aims to expand its market presence in Southeast Asia, targeting a 30% increase in international sales by 2022[19]. - The company is exploring potential mergers and acquisitions to enhance its service offerings and market reach[19]. - Future guidance indicates expected revenue growth of 10-15% for 2021, driven by new product launches and market expansion efforts[19]. - The company is committed to improving its capital structure through various financing methods to support sustainable high-quality development[149]. - The company plans to deepen its "three-in-one" development strategy, focusing on core technology independence, high-end equipment manufacturing, and domestic substitution technology markets, to achieve sustainable high-quality development[146]. Aviation Services and Training - The company has established four flight training bases in Kunming, Tianjin, Singapore, and Shenyang, with a training capacity exceeding 80,000 hours annually for over 30 airlines in the Asia-Pacific region[47]. - The company is the largest third-party training institution in China, providing training services for pilots and crew members, which is expected to see significant growth due to the increasing demand for new pilots[51]. - The flight training segment reported revenue of 103.62 million yuan, a decline of 42.09% year-on-year due to the impact of the pandemic[78]. - The company has established a collaborative training model across four locations, enhancing its position as a leading third-party flight training provider in China[78]. Investment and Financial Management - The company has no plans to distribute cash dividends or issue bonus shares for the fiscal year 2020[7]. - The balance of long-term equity investments at the end of the period was 71.15 million yuan, an increase of 28.64 million yuan, or 67.37%, mainly due to the investment of 31.53 million yuan to acquire 33.9% equity in Sichuan Airlines Keruite Engineering Technology Co., Ltd.[55]. - The company reported a net increase in cash and cash equivalents of ¥232,340,342.46, a significant improvement of 202.10% compared to the previous year[1]. - The company has committed to maintaining transparency and timely disclosure of significant information affecting investors[162]. - The company executed a share buyback in 2021 to support business development[160]. Risks and Challenges - The company has identified key risks, including regulatory changes and market competition, but does not foresee any significant adverse effects on its operations[6]. - The company has no major litigation or arbitration matters during the reporting period[178]. - The company has no significant related party transactions during the reporting period[181]. Technological Advancements - The company has established the first domestic 6-inch second-generation/third-generation compound semiconductor production line, addressing the bottleneck in the manufacturing segment of China's compound semiconductor industry[44]. - The company has developed six categories of process products, including Gallium Arsenide (GaAs), Gallium Nitride (GaN), and Silicon Carbide (SiC), supporting the manufacturing of microwave power amplifiers and other products widely used in 5G, AI, and electric vehicles[44]. - The company has successfully developed the STC technology for converting Boeing B737-700 and B737-800 passenger aircraft into cargo aircraft, with certifications from multiple aviation authorities[44]. - The company has achieved breakthroughs in core technologies for various equipment, with products undergoing series development and mass production[55]. Corporate Governance - The company’s board of directors has emphasized the importance of shareholder returns while considering future sustainable development[160]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[166]. - The company has implemented the revised accounting standards for revenue recognition effective January 1, 2020[166].