巨轮智能(002031) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was approximately ¥1.68 billion, representing a 19.31% increase compared to ¥1.41 billion in 2019[23]. - The net profit attributable to shareholders for 2020 was a loss of approximately ¥160.38 million, a decrease of 867.01% from a profit of ¥20.91 million in 2019[23]. - The net cash flow from operating activities was approximately ¥113.33 million, down 74.73% from ¥448.42 million in 2019[23]. - The total assets at the end of 2020 were approximately ¥6.00 billion, an increase of 4.46% from ¥5.75 billion at the end of 2019[23]. - The net assets attributable to shareholders decreased by 5.32% to approximately ¥2.91 billion from ¥3.07 billion in 2019[23]. - The basic earnings per share for 2020 was -¥0.0729, a decline of 867.37% from ¥0.0095 in 2019[23]. - The company reported a significant decrease in net profit after deducting non-recurring gains and losses, amounting to a loss of approximately ¥185.42 million in 2020[23]. - The weighted average return on net assets was -5.36% in 2020, down from 0.68% in 2019[23]. - The company achieved a revenue of 1,678.11 million CNY in 2020, representing a growth of 19.31% compared to the previous year[54]. - The net profit attributable to shareholders was -160.38 million CNY, a decline of 867.01% year-on-year[54]. - The net cash flow from operating activities was 113.33 million CNY, down 74.73% from the previous year[54]. - Total assets increased by 4.46% to 6,003.95 million CNY at the end of the reporting period[54]. Revenue Breakdown - The automotive tire equipment sector generated revenue of ¥688,935,434.33, accounting for 41.05% of total revenue, with a growth of 3.61% from the previous year[62]. - The modern service sector saw a significant increase in revenue to ¥796,160,975.33, which is 47.45% of total revenue, reflecting a growth of 73.44% year-on-year[62]. - The smart equipment manufacturing sector experienced a decline in revenue to ¥136,730,170.16, down 36.25% from ¥214,474,348.92 in 2019[62]. - The company reported a significant increase in the sales volume of automotive tire equipment, reaching 5,431 units, a 19.02% increase from 4,563 units in 2019[69]. Costs and Expenses - In 2020, the cost of raw materials for the automotive tire equipment industry was CNY 348,164,115.27, accounting for 56.17% of operating costs, a decrease of 4.55% compared to 2019[70]. - The salary and welfare expenses in the automotive tire equipment industry increased by 24.92% to CNY 93,223,932.59, representing 15.04% of operating costs[70]. - The main business cost for tire molds was CNY 334,996,436.21, which is 27.27% of operating costs, an increase of 18.62% year-on-year[73]. - The company reported a significant decrease in sales expenses by 34.45%, totaling CNY 36,492,904.33, primarily due to the impact of the COVID-19 pandemic[79]. - Research and development expenses amounted to CNY 68,638,387.25, a decrease of 12.13% compared to the previous year[79]. - The company’s R&D investment was CNY 67,802,357.56, which is 4.04% of operating revenue, down from 5.68% in 2019[83]. Investments and Subsidiaries - The company transferred 48% of its stake in Shanghai Lisheng Financing Leasing Co., Ltd. for CNY 99 million, which is no longer included in the consolidated financial statements[74]. - The company established a new subsidiary, Guangdong Maixun Rui Industrial Co., Ltd., with a registered capital of CNY 100 million, focusing on manufacturing metal cutting machine tools and tire molds[74]. - The subsidiary Hexin (Tianjin) International Commercial Factoring Co., Ltd. reported a net profit of 171.55 million yuan, with total assets of approximately 2.39 billion yuan and operating income of approximately 827.94 million yuan[110]. Market and Product Development - The company has developed new products such as the intelligent servo hydraulic vulcanizing machine, which features network communication capabilities and aims to automate the production process in tire factories[41]. - The company maintains a leading position in the domestic tire mold and hydraulic vulcanizing machine market, with over half of its revenue coming from these core products[38]. - The company focuses on expanding its market presence through the development of automation and intelligent equipment with independent intellectual property rights[39]. - The domestic tire mold market saw a substantial increase in orders, compensating for the decline in international orders due to the pandemic[42]. - The company successfully developed and implemented an "intelligent self-recognition mask fully automated production line" to support domestic mask manufacturers and export to Europe and Asia[56]. Risks and Challenges - The company faces risks related to reliance on the tire downstream industry, fluctuations in raw material prices, and high customer concentration[6]. - The company faces risks related to dependence on the tire industry's economic conditions, which could impact demand for its products[120]. - Fluctuations in raw material prices pose a risk to the company's performance, with potential cost increases affecting profitability[120]. - The company has a high customer concentration, which poses a risk if major clients face operational difficulties without new quality clients being developed[122]. - The company is experiencing liquidity risk due to a significant amount of short-term interest-bearing liabilities, which could affect its ability to meet financial obligations if credit conditions change[123]. - The company is closely monitoring the impact of the COVID-19 pandemic on its operations and receivables, with the extent of the impact remaining uncertain[126]. Corporate Governance and Compliance - The company has established a comprehensive corporate governance structure, ensuring timely and accurate information disclosure to protect shareholder and creditor rights[172]. - The company has implemented a performance management system and provides training programs to enhance employee skills, ensuring employee rights and welfare are prioritized[172]. - The company does not belong to the key pollutant discharge units as per environmental protection department announcements, and has not faced penalties for environmental violations during the reporting period[176]. - The company has adopted the ISO14001 environmental management system, focusing on waste reduction and energy conservation, achieving compliance with national environmental standards[176]. Shareholder Information - The total number of shareholders at the end of the reporting period was 102,502, an increase from 99,902 at the end of the previous month[196]. - Wu Chaozhong holds 399,740,587 shares, representing 18.18% of total shares, with 76,805,000 shares pledged[196]. - The top five shareholders hold significant stakes, with the largest shareholder, Yue Haijun, owning 4,618,100 shares of common stock[200]. - The company did not issue any new securities during the reporting period[191].