BDStar Navigation(SZ:002151)2021-03-25 16:00Financial Performance - The company reported a total revenue of 507.73 million CNY for the year 2020, with a year-on-year growth of 15%[7]. - The net profit attributable to shareholders was 50.77 million CNY, representing a 10% increase compared to the previous year[7]. - The company's operating revenue for 2020 was ¥3,624,338,125.03, representing a 21.34% increase compared to ¥2,987,002,576.45 in 2019[14]. - The net profit attributable to shareholders in 2020 was ¥146,553,475.60, a significant turnaround from a loss of ¥651,236,949.92 in 2019, marking a 122.50% increase[14]. - The net cash flow from operating activities reached ¥425,903,485.62 in 2020, up 203.27% from ¥140,438,638.15 in 2019[14]. - The basic earnings per share for 2020 was ¥0.30, compared to a loss of ¥1.31 in 2019, reflecting a 122.90% improvement[14]. - The company reported a weighted average return on equity of 4.14% in 2020, recovering from -17.87% in 2019, an improvement of 22.01%[14]. - The company recorded non-operating income of ¥80,154,682.39 from government subsidies in 2020, compared to ¥33,442,128.68 in 2019[17]. - The company achieved a net profit of approximately 11.69 million RMB, a year-on-year increase of 129.26%, driven by cost reduction and efficiency improvements[41]. - The company reported a total of 5,358.85 million CNY in a contract dispute settlement with Zhejiang Zhongtai, with 1,500 million CNY already repaid and further repayments pending[122]. Market Expansion and Strategy - The company is focusing on expanding its market presence in the automotive electronics sector, leveraging its subsidiaries for growth[6]. - Future outlook includes a projected revenue growth of 20% for 2021, driven by new product launches and market expansion strategies[7]. - The company aims to enhance its product offerings through strategic partnerships and potential acquisitions in the technology sector[6]. - The company is actively expanding its overseas automotive engineering services, primarily targeting major automotive manufacturers like BMW and Audi[22]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in international sales by 2022[179]. - The company aims to achieve a revenue target of CNY 2 billion for 2021, reflecting a growth target of 33%[179]. - The company is exploring opportunities for mergers and acquisitions to strengthen its competitive position in the market[179]. - The company aims to solidify its leading position in satellite navigation and related fields, targeting a market share increase in high-precision and IoT applications, with a focus on cloud services and large-scale applications in drones and smart driving[94]. Research and Development - Research and development efforts are being intensified, particularly in satellite navigation technology and related applications[6]. - R&D investment amounted to 344 million yuan, accounting for 9.5% of operating revenue, with a year-on-year growth of 3.34%[30]. - The company applied for 120 new patents and 128 software copyrights in 2020, bringing the total to 787 patents and 623 software copyrights[30]. - The company completed the design and trial production of a high-precision, high-performance antenna for applications in drones and intelligent driving[56]. - The company is developing a series of 5G communication timing antennas, with basic production capabilities established for multi-system and multi-frequency applications[57]. - The company aims to achieve mass production capabilities for 5G RF modules and has developed a testing and verification platform for microwave ceramic materials[58]. - The company reported a research and development investment of 344 million yuan, with 64 ongoing key projects, indicating a commitment to enhancing its competitive edge in navigation and automotive smart connectivity products[99]. Operational Efficiency and Cost Management - The company is addressing potential operational risks by implementing comprehensive risk management strategies[3]. - The company implemented strict cost control measures, including salary reductions and project expenditure cuts, to maintain profitability during the pandemic[37]. - The company aims to reduce operational costs by 5% through efficiency improvements in the supply chain[187]. - The company has emphasized the importance of a robust supply chain management system to mitigate operational risks and reduce overall supply costs[97]. Corporate Governance and Compliance - The board of directors has confirmed that all members attended the meeting to review the annual report, ensuring governance compliance[3]. - The company has established a comprehensive internal control system to ensure fair and equitable treatment of all shareholders, particularly minority shareholders[142]. - The company has engaged Da Hua Accounting Firm for auditing services, with a fee of 2.1 million CNY for the year[119]. - The company is not facing any delisting risks following the annual report disclosure[120]. Legal Matters - The company is involved in a lawsuit with Jiangsu Beidou Xingtong Automotive Electronics Co., Ltd. with a claim amount of 4.504 million CNY, which is currently under mediation[121]. - The company is awaiting court decisions on several ongoing legal disputes, including a technology secret infringement case with a claim of 760.5 million CNY[123]. - The company has successfully recovered 750 million CNY from Guangdong Huishuo Communication Technology, with further repayments under negotiation[122]. Employee and Management Information - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 16.5738 million[194]. - The highest individual remuneration was received by the Chairman, Zhou Ruxin, totaling CNY 0.9524 million for the year 2020[195]. - The total number of employees in the company is 5,030[200]. - The number of employees with a master's degree is 696, accounting for approximately 13.8% of the total workforce[200]. - The number of employees with a bachelor's degree is 2,118, making up about 42.1% of the total workforce[200]. Shareholder Information - The total number of shares increased from 489,925,027 to 507,729,997, reflecting an increase of 17,804,970 shares, or approximately 3.63%[153]. - Major shareholder Zhou Ruxin holds 26.08% of the shares, with a decrease of 13,859,600 shares during the reporting period[162]. - The company’s shareholder structure remains stable, with no known related party relationships among the top shareholders[163]. - The company has not engaged in any repurchase transactions among its top shareholders during the reporting period[163].