柘中股份(002346) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was CNY 604,422,154.87, representing a 33.82% increase compared to CNY 451,656,673.66 in 2019[20] - The net profit attributable to shareholders for 2020 was CNY 155,648,950.82, a 64.42% increase from CNY 94,663,779.43 in 2019[20] - The net profit after deducting non-recurring gains and losses was CNY 87,479,838.67, which is a 99.51% increase from CNY 43,846,727.11 in 2019[20] - The basic earnings per share for 2020 was CNY 0.35, up 66.67% from CNY 0.21 in 2019[21] - The total revenue for complete switch equipment reached ¥411,870,705.56, accounting for 89.70% of total sales, with a year-on-year increase of 30.84%[52] - Net profit attributable to shareholders was ¥155,648,950.82, reflecting a significant growth of 64.42% year-on-year, driven by the growth in the electrical main business and substantial gains from financial asset investments[38] - The company maintained a gross margin of 24.02% in the industrial sector, with a year-on-year increase of 0.62%[47] - The revenue from complete switchgear reached ¥534,969,011.11, up 31.08% compared to the previous year[38] Assets and Liabilities - The total assets at the end of 2020 were CNY 2,701,539,935.35, a decrease of 7.45% from CNY 2,918,945,342.23 at the end of 2019[21] - The net assets attributable to shareholders at the end of 2020 were CNY 2,084,293,742.02, reflecting a 2.65% increase from CNY 2,030,446,802.33 at the end of 2019[21] - The company's total assets at the end of 2020 were ¥2,698,000,000, with cash and cash equivalents decreasing by 2.50% to ¥64,064,037.80[62] - The proportion of long-term equity investments increased by 6.07% to 18.48% of total assets, amounting to ¥499,182,026[62] - The company’s financial liabilities remained at 0.00, indicating no new financial obligations incurred during the reporting period[65] Cash Flow - The net cash flow from operating activities for 2020 was CNY 10,300,719.75, down 81.63% from CNY 56,076,011.96 in 2019[20] - Operating cash flow net amount decreased by 81.63% to ¥10,300,719.75, primarily due to increased cash payments for goods and services[57] - Investment cash flow net amount increased by 321.70% to ¥204,637,981.89, mainly due to reduced cash payments for fixed asset purchases[58] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 2 per 10 shares to all shareholders based on a total share capital of 441,575,416 shares as of December 31, 2020[8] - The cash dividend payout ratio for 2020 was 56.74% of the net profit attributable to ordinary shareholders[112] - The company distributed a cash dividend of RMB 2 per 10 shares, totaling RMB 88,315,083.20 for the fiscal year 2020[106] - The cash dividend for 2019 was also RMB 2 per 10 shares, amounting to RMB 88,315,083.20, reflecting a similar payout strategy[109] Business Operations and Strategy - The company has ceased production of PHC piles since 2015, focusing on the production and sales of complete switchgear and investment business[19] - The company actively participates in major infrastructure projects, including those for the State Grid and urban public services, which are crucial for its business growth[32] - The company plans to continue focusing on high-concentration industries such as integrated circuits, state grid, rail transit, and data centers to capture new infrastructure market opportunities[41] - The company has established partnerships with several well-known semiconductor companies, including SMIC and Huahong Semiconductor, enhancing its market presence in the semiconductor sector[31] Research and Development - Research and development expenses amounted to ¥21,090,745.15, which is 3.49% of operating revenue, showing a year-on-year increase of 4.50%[55] - The company plans to enhance product technology and capture niche market opportunities, aiming for stable growth in the complete switchgear equipment sector[101] - The company has established a new R&D center with an investment of CNY 1,267 million, fully completed[94] Corporate Governance - The company has a clear governance structure, adhering to legal and regulatory requirements for board meetings and shareholder rights[188] - The board of directors and supervisory board operate independently, ensuring no interference from the controlling shareholder in decision-making[187] - Independent directors provided constructive suggestions on strategic direction and internal controls, which were adopted by the company[195] Environmental and Social Responsibility - The company has committed to sustainable development and environmental management practices[147] - The company actively contributed to the fight against COVID-19 by donating funds and supplies to local health authorities and the Red Cross[148] - Shanghai Fengxian Gas Turbine Power Co., Ltd. achieved a total nitrogen oxide emission of 27.55 tons, well below the approved limit of 53.14 tons, indicating compliance with environmental standards[149] Employee Relations - The company has implemented measures to protect employee rights and ensure a safe working environment, especially during the pandemic[147] - The company emphasizes continuous employee training, offering targeted training programs to enhance professional skills and industry knowledge[184] - The total number of employees in the company is 485, with 22 in the parent company and 448 in major subsidiaries[182]