ST宇顺(002289) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥139,420,849.38, a decrease of 31.82% compared to ¥204,480,296.28 in 2019[19]. - The net profit attributable to shareholders was a loss of ¥31,535,613.09, representing a decline of 341.97% from a profit of ¥13,033,017.73 in 2019[19]. - The basic earnings per share were -¥0.1125, a decrease of 341.94% compared to ¥0.0465 in 2019[19]. - Total assets at the end of 2020 were ¥361,431,567.94, down 12.19% from ¥411,619,641.31 at the end of 2019[19]. - The weighted average return on net assets was -10.04%, a decrease of 14.07% from 4.03% in 2019[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥33,401,401.18, an improvement of 55.52% from -¥75,092,100.58 in 2019[19]. - The company achieved a revenue of CNY 13,942.08 million in 2020, reflecting a significant decline in performance due to external economic pressures[37]. - Revenue from liquid crystal display screens and modules was ¥92,214,641.60, accounting for 66.14% of total revenue, down 25.03% from ¥122,998,445.35 in 2019[40]. - Revenue from touch display modules was ¥37,886,901.31, representing 27.18% of total revenue, a significant decline of 46.66% from ¥71,024,858.59 in 2019[40]. - Domestic revenue decreased by 37.60% to ¥82,184,089.77, while international revenue decreased by 21.35% to ¥57,236,759.61[41]. Cash Flow and Investments - The net cash flow from operating activities increased by 88.21% to ¥160,540,952.85, up from ¥85,299,992.09 in the previous year[19]. - The company reported a net cash flow from operating activities of CNY 177,600,478.81 in Q2 2020, but a negative cash flow of -CNY 9,850,258.84 in Q3 2020[24]. - Operating cash flow net increased by 88.21% to ¥160,540,952.85, primarily due to the recovery of receivables from the sale of a subsidiary[56]. - Investment cash flow net decreased by 100.42% to -¥95,683.22, mainly due to reduced cash inflow from the disposal of subsidiaries in the previous year[56]. - Financing cash flow net improved by 60.65% to -¥43,590,769.71, as most borrowings were repaid in 2019[57]. - Cash and cash equivalents increased significantly by 4,291.44% to ¥116,854,499.92, reflecting the recovery of receivables from the sale of a subsidiary[57]. Market and Business Strategy - The company focused on maintaining and expanding its market share with medical clients, especially in Japan, during the reporting period[36]. - The company plans to enhance its core competitiveness by integrating technology, market, and talent resources, aiming for better performance in 2021[33]. - The company has been actively expanding its customer base in the domestic home appliance sector, ensuring stable business development[36]. - The company plans to enhance R&D in black and color displays and expand its product offerings in the market[54]. - The company aims to reduce and standardize related party transactions, ensuring they are conducted at fair market prices[104]. Risks and Challenges - The company faced significant risks and uncertainties in its future development, as detailed in the management discussion and analysis section[6]. - The company experienced a significant increase in costs for key materials, particularly TFT glass and driver ICs, impacting business operations[36]. - Rising material costs pose a risk to the company's gross margins, prompting strategies to reduce production costs and increase the output of color display products[84]. - The company faces risks from macroeconomic fluctuations and supply chain disruptions, particularly in TFT glass and IC supply, which could impact production and delivery[83]. Corporate Governance and Shareholder Relations - The company has established a shareholder return plan for 2018-2020, but has not met the conditions for profit distribution in any of those years[89]. - The company has committed to ensuring the independence of its operations, assets, and financials, and is currently fulfilling these commitments[94][95]. - The company has established measures to ensure the independence of its personnel, assets, finances, organization, and operations, maintaining a complete and independent structure[99]. - The company has pledged to adhere to fair trading principles, ensuring transactions with related parties are conducted at market prices without harming the company's interests[98]. - The company has committed to avoiding competition with its controlling shareholder and its future subsidiaries, ensuring no engagement in similar businesses that could harm the company's interests[100]. Employee and Management Structure - The total number of employees in the company is 425, with 295 in production, 17 in sales, and 74 in technical roles[197]. - The company has a total of 5 employees with a master's degree, 37 with a bachelor's degree, and 46 with an associate degree[198]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounts to 530.18 million yuan[196]. - The company has not granted any stock incentives to directors and senior management during the reporting period[196]. - The company’s management remuneration is linked to annual operating performance and is subject to performance assessments[193]. Future Outlook - The display industry is expected to benefit from the rise of IoT, AI, and 5G technologies, presenting new opportunities for growth[73]. - The future direction of the display market emphasizes large size, ultra-high definition, and cost reduction, with emerging applications in automotive and smart displays[74]. - The company plans to enhance its core competitiveness and expand its touch display solutions in non-consumer electronics, targeting markets like smart home and medical health[79]. - The company is actively pursuing mergers and acquisitions to strengthen its competitive position in the industry[188]. - New product development initiatives are underway, aiming to leverage advanced technologies and meet evolving customer needs[189].