联创电子(002036) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was CNY 7,531,942,899.28, representing a 23.84% increase compared to CNY 6,081,932,971.96 in 2019[22]. - The net profit attributable to shareholders for 2020 was CNY 163,746,814.76, a decrease of 27.03% from CNY 259,585,312.33 in 2019[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 31,610,054.30, down 70.33% from CNY 141,738,474.00 in 2019[22]. - The company's total assets at the end of 2020 were CNY 12,354,599,640.00, an increase of 38.21% from CNY 8,974,170,149.31 at the end of 2019[25]. - The basic earnings per share for 2020 was CNY 0.17, a decrease of 45.16% compared to CNY 0.36 in 2019[25]. - The net cash flow from operating activities for 2020 was CNY -122,219,680.45, a decline of 129.90% from CNY 408,791,466.07 in 2019[25]. - The company achieved a sales revenue of 7.532 billion yuan in 2020, representing a year-on-year growth of 23.84%[66]. - The net profit attributable to the parent company was 164 million yuan, a decrease of 27.03% compared to the previous year[66]. Dividend Distribution - The company plans to distribute a cash dividend of 0.16 RMB per 10 shares (including tax) to all shareholders based on the total share capital minus the repurchased shares of 1,304,500 shares[5]. - The company distributed cash dividends of RMB 16,745,473.65 for the year 2020, accounting for 10.23% of the net profit attributable to shareholders[179]. - In 2019, the company distributed cash dividends of RMB 7,124,338.41, which was 3.17% of the net profit attributable to shareholders[174]. - The total cash dividends distributed over the past three years amounted to RMB 29,131,771.21, representing 12.98% of the net profit attributable to shareholders in 2019[179]. - The total distributable profit for the year 2020 was RMB 700,732,103.39[180]. - The cash dividend policy was executed in compliance with the company's articles of association and shareholder resolutions[176]. Business Operations and Strategy - The company operates multiple subsidiaries, including Jiangxi Lianchuang Electronics and Chongqing Liangjiang Lianchuang Electronics, enhancing its market presence[10]. - The company has undergone a change in its main business focus since February 18, 2016, shifting to the research, production, and sales of touch display products and optical components[20]. - The company is currently in the guidance period for its subsidiary, which has been recognized as an outstanding enterprise in the Nanchang High-tech Zone for 2020[26]. - The company is actively exploring the manufacturing of smart terminal products, leveraging its optical lens and imaging module advantages to create new profit growth points[38]. - The company has established strategic partnerships with major clients such as Huawei and Tesla, successfully developing multiple next-generation automotive optical products and high-end automotive lenses[35][36]. - The company is focusing on the optical lens and imaging module industry, which is crucial for consumer electronics, automotive electronics, and smart home applications[137]. Research and Development - The company has established various R&D platforms, including a postdoctoral innovation practice base and engineering technology research center, to enhance its optical technology capabilities[44]. - The total R&D investment reached ¥378,090,349.98, representing a 31.23% increase compared to 2019, with R&D personnel accounting for 13.81% of the workforce[102]. - The company applied for 72 invention patents in 2020, with 45 patents granted, indicating a strong focus on innovation[98]. - The company has a strong manufacturing capability across optical components, ensuring high quality and cost advantages[51]. Market and Industry Trends - The optical industry maintains a leading position in high-definition wide-angle lenses, with significant growth in automotive lens market share and manufacturing scale for smartphone lenses and imaging modules[35]. - The touch display industry has expanded its product scale and structure, particularly in the fields of education, security monitoring, and smart home applications, with rapid growth in touch display products for tablets and smart speakers[37]. - The company is actively pursuing new market opportunities in sectors such as automotive advanced driver assistance systems and AR/VR applications[140]. - The procurement of key raw materials for optical products is challenging due to reliance on overseas suppliers, which may affect profitability[157]. Financial Management and Investments - The company completed the issuance of 300,000 convertible bonds totaling 300 million yuan to support the production of high-end smartphone lenses and supplement working capital[68]. - The company raised a total of CNY 135,224.59 million through various fundraising methods, with CNY 69,517.58 million already utilized for projects including high-end smartphone lens production[121]. - The company has a total of CNY 1,810,620,719.96 in restricted assets, primarily due to various collateral agreements[112]. - The company has ongoing projects for the production of 600 million high-end smartphone lenses and 2.4 million automotive optical lenses[121]. Risk Factors and Challenges - The company emphasizes the importance of risk factors including interest rate risk, liquidity risk, and operational risk, urging investors to be aware of investment risks[5]. - The rapid iteration of mobile product structures and supply chain instability pose risks to the touch display product segment[161]. - Increased competition in the touch display market may lead to declining profit margins if the company fails to adapt[162]. - The company is focusing on internal management improvements and new product development to counteract competitive pressures[162]. Compliance and Governance - The company’s financial report is guaranteed to be true, accurate, and complete by the board of directors and management, with all directors present for the meeting[5]. - The company has committed to maintaining independent operational capabilities for Hanma Industry, minimizing related transactions with other controlled enterprises[188]. - The company strictly adheres to commitments regarding avoiding related transactions with Hanma Industry and its subsidiaries, ensuring no financial resources are misappropriated[186].