COSHIP(SZ:002052)2021-04-29 16:00Financial Performance - The company reported a total revenue of RMB 745,959,694 for the year 2020, with a cash dividend of 0 per 10 shares[6]. - The company's operating revenue for 2020 was approximately ¥288.47 million, a decrease of 63.12% compared to ¥782.28 million in 2019[19]. - The net loss attributable to shareholders was ¥153.76 million, an improvement of 24.33% from a loss of ¥203.20 million in 2019[19]. - The company's total operating revenue for the year 2020 was approximately ¥288.47 million, a decrease of 63.12% compared to ¥782.28 million in 2019[55]. - The revenue from communication and related equipment manufacturing was ¥250.48 million, accounting for 86.83% of total revenue, down 63.72% from ¥690.35 million in 2019[56]. - The company reported a net loss of ¥153.76 million for the year 2020, reflecting no change from the previous year's loss[106]. - The company reported a total revenue of 1.5 billion RMB for the fiscal year 2020, representing a year-over-year growth of 15%[192]. - Shenzhen Tongzhou Electronics reported a total revenue of RMB 1.5 billion for the fiscal year 2020, representing a year-on-year increase of 12%[197]. Operational Challenges - The company faces risks including macroeconomic downturns, market and operational risks, and exchange rate risks, which could impact future performance[6]. - The company has received an unqualified opinion from Da Hua Accounting Firm, although it includes a paragraph on significant uncertainties regarding going concern[6]. - The company’s board acknowledged the significant uncertainty regarding its ability to continue as a going concern, as noted in the audit report[103]. - The company is exposed to technology risks, including potential loss of core technical personnel, which could hinder its sustainable development and innovation capabilities[91]. - The company faces market risks due to reliance on broadcasting operators, which may impact its growth if there are significant fluctuations in the industry[90]. Research and Development - The company is focused on integrating new technologies such as cloud computing and big data analytics into its operations[10]. - The company is committed to enhancing its product offerings through research and development in areas like smart home technology and IoT[10]. - The company continues to engage in research and development, although specific new products or technologies were not detailed in the report[19]. - The company plans to enhance R&D in key products and technologies, focusing on smart terminals and international market expansion in the media integration platform[68]. - Research and development expenses decreased by 45.50% to ¥40,361,612.22 in 2020, down from ¥74,064,349.05 in 2019, with the number of R&D personnel reduced by 40.91%[68]. - The company has a strong focus on research and development, with over 30 national research projects completed and more than 50 national invention patents granted[183]. Market Expansion and Strategy - The company is exploring market expansion opportunities, particularly in the digital television and internet sectors[10]. - The company is actively expanding into emerging markets such as smart homes, smart communities, and IoT, aiming to support operators in their transition to smart and connected solutions[51]. - The company aims to consolidate its traditional markets while exploring new markets, including expanding into Europe and North America, leveraging its extensive CA partnerships[89]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[192]. - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the market[192]. Governance and Compliance - The company has established strict internal control systems to prevent commercial bribery and ensure compliance with business ethics[141]. - The company aims to enhance its compliance and governance practices following the regulatory scrutiny[116]. - The management team is committed to transparency and accountability in financial disclosures[114]. - The company has received administrative penalties totaling 600,000 CNY for false disclosures in annual reports[112]. - The company disclosed that it is under investigation by the China Securities Regulatory Commission, which may impact future operations[116]. Shareholder Information - The largest shareholder, Mr. Yuan Ming, has pledged 123,107,000 shares, representing 16.50% of the total share capital of 745,959,694 shares[117]. - The company has no controlling shareholder, as no single shareholder holds more than 30% of the voting rights[158]. - The total number of shareholders at the end of the reporting period was 53,127, an increase from 46,978 at the end of the previous month[156]. - The company has not distributed cash dividends in the past three years, with a reported net profit of -153.76 million yuan in 2020, indicating a 0.00% dividend payout ratio[96]. Financial Adjustments and Reporting - The company reported a significant adjustment in accounting policies, including a correction of previous years' accounting errors related to false sales and bad debt provisions[21]. - The company implemented the revised revenue recognition standard from January 1, 2020, resulting in a reclassification of prepayments and contract liabilities[105]. - The impact of the new revenue standard on the balance sheet included a decrease in prepayments by ¥17.42 million and an increase in contract liabilities by ¥16.48 million[106]. - The company has not experienced any changes in the scope of its consolidated financial statements compared to the previous year[108]. - The company's financial statements were prepared in accordance with accounting standards, reflecting its financial position and operational results accurately[104]. Employee and Corporate Culture - The company organized over 300 cultural and sports activities for employees in 2020, enhancing employee satisfaction and cohesion[137]. - The company strictly adhered to national labor safety and health regulations, providing regular health check-ups for employees[137]. - The company has a strong after-sales service department to enhance customer satisfaction and maintain a good reputation in the industry[141].