WMM(SZ:002149)2021-03-30 16:00Financial Performance - The company's operating revenue for 2020 was ¥2,029,344,039.81, representing a 1.16% increase from ¥2,006,102,610.30 in 2019[24]. - The net profit attributable to shareholders for 2020 was ¥79,408,077.48, a significant increase of 29.19% compared to ¥61,465,474.93 in 2019[24]. - The basic earnings per share for 2020 was ¥0.1867, up 29.20% from ¥0.1445 in 2019[24]. - Total assets at the end of 2020 reached ¥5,589,338,784.49, a 26.29% increase from ¥4,425,801,965.49 at the end of 2019[24]. - The net assets attributable to shareholders increased by 43.53% to ¥2,581,954,514.93 from ¥1,798,939,410.91 in 2019[24]. - The total operating revenue for 2020 was approximately ¥2.03 billion, representing a year-on-year increase of 1.16% from ¥2.01 billion in 2019[59]. - Revenue from titanium products reached approximately ¥1.36 billion, accounting for 66.94% of total revenue, with a year-on-year growth of 5.84%[59]. - Domestic revenue was approximately ¥1.92 billion, making up 94.44% of total revenue, with a year-on-year increase of 3.57%[62]. - The company reported a significant decrease in overseas revenue, which fell by 27.48% to approximately ¥112.90 million[59]. - The company reported a total of ¥336,320,953.86 in restricted assets, primarily due to bank acceptance deposits and collateral for long-term loans[94]. Cash Dividends - The company reported a profit distribution plan based on a total of 488,214,274 shares, proposing a cash dividend of 1.5 RMB per 10 shares (including tax) with no bonus shares issued[7]. - The cash dividend amount for 2020 was 73,232,141.10 RMB, representing 92.22% of the net profit attributable to ordinary shareholders[141]. - The cash dividend payout ratio for 2019 was 69.21%, with a total cash dividend amount of 42,541,427.40 RMB[141]. - The total distributable profit for 2020 was 103,869,854.46 RMB, with the cash dividend accounting for 100% of the profit distribution[144]. - The cash dividend for 2020 was fully paid out without any share buybacks or other forms of distribution[144]. Research and Development - The company invested 92.83 million yuan in R&D throughout 2020, advancing over 70 new products, technologies, and processes[53]. - The company developed over 70 new products and technologies, including high-strength titanium alloy castings and aluminum stainless steel transition connectors for the new energy sector[76]. - Research and development expenses for 2020 totaled ¥92,833,686.23, a decrease of 2.08% from 2019[77]. - The number of R&D personnel increased by 1.04% to 195, while the proportion of R&D personnel to total employees decreased to 12.48%[77]. - The company has obtained 480 authorized patents and established 23 technology innovation platforms, including national and provincial engineering research centers[44]. Strategic Development and Market Expansion - The company plans to enhance its market share in high-end products and expand its sales areas and scale in the titanium processing industry[37]. - The company aims to develop new products for oil and gas pipelines and marine engineering in the rare metal layered composite materials sector[37]. - The company is focused on innovation-driven development strategies to enhance its core competitiveness in various industries, including aerospace and nuclear power[37]. - The company is actively seeking new projects in the environmental protection sector, with new contracts signed in metallurgy, construction materials, and new energy industries[118]. - The company plans to expand its market presence in marine engineering, benefiting from the national strategy to develop a strong marine economy[119]. Corporate Governance and Compliance - The company emphasizes the importance of accurate and complete financial reporting, with key executives affirming the integrity of the annual report[5]. - The company has engaged Sigma Accounting Firm for auditing services, ensuring compliance and oversight[23]. - The company has maintained a continuous relationship with Sigma Accounting Firm for 6 years, with an audit fee of 700,000 RMB for the current period[157]. - There were no significant accounting errors requiring retrospective restatement during the reporting period[155]. - The company did not experience any major litigation or arbitration matters during the reporting period[161]. Shareholder and Stakeholder Relations - The company has established a dedicated investor relations team to facilitate communication and transparency with stakeholders[18]. - The company has not reported any changes in its major shareholders during the reporting period[22]. - The company is under the control of the Shaanxi Provincial Finance Department, with the Northwest Institute of Nonferrous Metal Research as the controlling shareholder[13]. Asset Management and Investments - The company has not sold any major assets during the reporting period, indicating stability in its asset management[110]. - The company did not engage in any asset or equity acquisitions or sales during the reporting period[178]. - The company has not made any capital increases through the conversion of capital reserves or stock dividends in 2020[144]. - The company has invested a total of RMB 168,599.38 million in committed investment projects, with an actual investment of RMB 119,914.32 million, achieving a progress rate of 71.14%[101]. - The company has not encountered any issues or other situations in the use and disclosure of raised funds[106]. Related Party Transactions - The company engaged in related party transactions with Northwest Nonferrous Metal Research Institute, with service acceptance transactions amounting to 155,900 CNY, accounting for 0.07% of similar transaction amounts[164]. - The company also procured goods from Northwest Nonferrous Metal Research Institute, with transaction values of 3,576,200 CNY, representing 0.23% of similar transaction amounts[164]. - The approved transaction amount for related party transactions was 4,000,000 CNY, and none exceeded the approved limit[164]. Future Outlook - The company aims to build a global leading rare metal materials processing base as its corporate vision[199]. - The company plans to optimize product structure and accelerate the construction of key projects, focusing on military, environmental protection, nuclear power, foreign trade, and high-end manufacturing markets[121]. - The company is preparing for the second phase of its special new materials park and expanding its rare metal equipment manufacturing projects[126]. - The company is advancing the construction of its innovation and digital platforms to improve production command and control capabilities[129].