三变科技(002112) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥1,010,337,989.43, representing a 42.22% increase compared to ¥710,389,903.34 in 2019[18]. - The net profit attributable to shareholders for 2020 was ¥31,723,622.01, a significant increase of 216.85% from ¥10,012,264.88 in 2019[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥27,855,029.07, up 596.20% from ¥4,001,034.45 in 2019[18]. - The basic earnings per share for 2020 was ¥0.16, a 220.00% increase from ¥0.05 in 2019[18]. - The total assets at the end of 2020 were ¥1,114,175,083.92, reflecting a 7.12% increase from ¥1,040,092,877.49 at the end of 2019[18]. - The net assets attributable to shareholders at the end of 2020 were ¥397,399,812.07, a 4.50% increase from ¥380,271,382.84 at the end of 2019[18]. - The company reported a net cash flow from operating activities of -¥51,429,063.41 for 2020, worsening from -¥40,006,354.16 in 2019[18]. - The weighted average return on equity for 2020 was 8.01%, an increase of 5.33 percentage points from 2.68% in 2019[18]. Revenue Sources - The sales of combination transformers surged by 166.88%, contributing CNY 343,654,607.12 to the total revenue[38]. - Domestic sales accounted for 98.79% of total revenue, amounting to CNY 998,163,297.94, with a year-on-year growth of 81.86%[38]. - The company reported a 38.70% increase in revenue from power distribution and control equipment, totaling CNY 965,532,055.60[37]. Research and Development - The company obtained 9 new utility model patents in 2020, enhancing its core intellectual property in product development[34]. - Research and development expenses increased by 38.03% to ¥34 million, focusing on new transformer products[50]. - The company has achieved a significant technological advantage with 39 national patents, focusing on low-loss, low-noise, and high short-circuit resistance products[29]. Marketing and Expansion - The company has established a nationwide marketing network and is actively expanding into overseas markets, becoming a supplier for major state-owned power grids[29]. - The company plans to enhance marketing management and expand the market in 2021, focusing on improving the bidding success rate and managing overdue accounts receivable[69]. Cash Flow and Financial Management - The company plans to strengthen cash flow management and improve accounts receivable quality, aiming to maintain normal operating cash flow levels[71]. - The company's net cash flow from operating activities was -51,429,063.41 yuan, while the net profit for the year was 31,723,622.01 yuan, indicating a significant discrepancy due to delayed cash collection from large sales in the fourth quarter[55]. - The total amount of cash inflow from financing activities was approximately ¥709 million, a 7.78% increase from the previous year[53]. Environmental Management - The wastewater treatment plant built in 2008 has a daily processing capacity of 47 tons and operates for 8 hours a day, with COD and ammonia nitrogen concentration limits set at 500 mg/L and 35 mg/L respectively[109]. - The company has implemented a pollution prevention and control strategy that combines clean production with end-of-pipe treatment, recognized as a key pollutant discharge unit in Zhejiang Province for 2020[108]. - The company has established an online monitoring system for wastewater quality, which includes COD and pH monitoring, operational since October 2015[109]. Corporate Governance - The company has established a sound corporate governance structure and ensures equal rights for all shareholders[105]. - The company emphasizes the importance of compliance and governance in its operational strategy, as reflected in the roles of its board members[137]. - The company has a structured approach to performance evaluation and compensation for its executives, ensuring alignment with corporate goals[138]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,351, down from 19,852 at the end of the previous month, indicating a decrease of approximately 2.5%[119]. - The largest shareholder, Zhejiang Sanbian Group, is a state-owned legal entity, indicating a stable ownership structure[122]. - The company did not engage in any repurchase transactions during the reporting period, reflecting a conservative financial strategy[121]. Employee Information - The total number of employees in the company is 689, with 684 in the parent company and 5 in major subsidiaries[141]. - The professional composition includes 445 production personnel, 111 technical personnel, 105 administrative personnel, 18 sales personnel, and 10 financial personnel[141]. - The total remuneration for the board and senior management during the reporting period is 365.78 million[140].