ATC(SZ:002227)2021-04-27 16:00Financial Performance - The company's total revenue for 2020 was ¥323,121,675.27, a decrease of 4.66% compared to ¥338,925,537.06 in 2019[18]. - The net profit attributable to shareholders for 2020 was ¥6,314,772.86, down 44.06% from ¥11,289,190.78 in 2019[18]. - The net cash flow from operating activities decreased by 44.64% to ¥30,700,326.59 in 2020 from ¥55,460,002.12 in 2019[18]. - The basic earnings per share for 2020 was ¥0.0286, a decline of 44.14% compared to ¥0.0512 in 2019[18]. - The company's net profit after deducting non-recurring gains and losses was negative at -¥5,217,866.62 in 2020, compared to a positive net profit of ¥3,015,928.35 in 2019, representing a decrease of 273.01%[18]. - The weighted average return on net assets for 2020 was 0.77%, down from 1.38% in 2019, a decrease of 0.61%[18]. - The company plans not to distribute cash dividends or issue bonus shares for the year[6]. - The company has indicated uncertainty regarding its ability to continue as a going concern due to negative net profits in recent years[18]. Revenue Breakdown - Revenue from the industrial sector accounted for 93.90% of total revenue, amounting to ¥303,399,708.21, down 3.59% year-on-year[63]. - The sales of integrated uninterruptible power supplies increased by 21.48% to ¥246,166,590.56, making up 76.19% of total revenue[63]. - Revenue from new energy electric vehicle charging dropped significantly by 51.71% to ¥49,958,293.12, which constituted 15.46% of total revenue[63]. Government Support and Market Conditions - The company received government subsidies amounting to ¥16,034,938.81 in 2020, up from ¥11,188,249.18 in 2019[25]. - In 2020, China's total electricity consumption was 7,511 billion kWh, with a year-on-year growth of 3.1%, indicating a stable growth trend in the power sector[38]. - The national average annual investment in distribution network construction exceeded 300 billion RMB from 2015 to 2020, supporting the growth of the power automation sector[39]. - The electric vehicle charging business is expected to see significant growth, with the market for new energy vehicles projected to reach 10 trillion RMB by 2030[41]. Technological Advancements and R&D - The company has pioneered flexible charging pile technology for electric vehicles, addressing current and future charging needs[30]. - The company is actively developing V2G (Vehicle-to-Grid) technology and has established a laboratory for bidirectional communication between electric vehicles and the grid[31]. - The company maintains a strong R&D focus, investing heavily in new technologies and products to stay ahead in the industry[35]. - The company has developed a high-power charging system for electric vehicles with a maximum output power of 475 kW, which is at an international leading level[47]. - The company has a technical team of nearly 200 people and has obtained over 100 technology patents, supporting continuous R&D and improvement of new products[50]. Operational Strategies - The company has adopted a flexible production model focused on customer demand, enabling rapid adjustments in product variety and volume[36]. - The company primarily utilizes direct sales and public bidding for orders, enhancing customer loyalty through personalized services and comprehensive solutions[37]. - The company has established a nationwide charging network capable of supporting over one million devices, enhancing operational management and monitoring capabilities[43]. - The company has successfully delivered high-voltage power supply systems for the Jiangsu Rudong offshore wind power flexible DC transmission project[58]. Challenges and Risks - The company is facing challenges due to the global economic environment but is positioned to benefit from the acceleration of new infrastructure initiatives[102]. - The company faces potential risks from policy changes that could impact the electric vehicle and related industries, necessitating ongoing research and adjustment of operational strategies[118]. - The electric vehicle charging industry is expected to attract more competitors, increasing market competition and potentially affecting the company's profitability[121]. Shareholder and Governance Matters - The company has established a cash dividend policy for the next three years (2021-2023), ensuring the protection of minority shareholders' rights[125]. - The company plans not to distribute cash dividends for the 2020 fiscal year, opting to retain earnings for future distribution[127]. - The company has maintained a cash dividend distribution policy, with cumulative distributions over the past three years exceeding 30% of the average distributable profits[129]. - The company has committed to adhering to relevant laws and regulations regarding profit distribution and investor returns in the future[129]. Future Outlook - The company plans to enhance its logistics capabilities, aiming to reduce delivery times by 20%[199]. - A new marketing strategy has been implemented, projected to increase brand awareness by 30% over the next year[200]. - The company has provided guidance for the next fiscal year, projecting a revenue growth of 25% and aiming for 1.875 billion RMB[199]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of the next fiscal year[199].