杰瑞股份(002353) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥8,294,957,104.87, representing a 19.78% increase from ¥6,925,426,976.55 in 2019[10]. - The net profit attributable to shareholders for 2020 was ¥1,690,376,838.38, up 24.23% from ¥1,360,693,039.87 in 2019[10]. - The net profit after deducting non-recurring gains and losses was ¥1,676,619,467.11, reflecting a 23.87% increase from ¥1,353,491,831.63 in 2019[10]. - The net cash flow from operating activities was ¥314,635,189.00, a 34.94% increase compared to ¥233,161,127.89 in 2019[10]. - The total assets at the end of 2020 were ¥18,810,321,083.95, which is a 13.87% increase from ¥16,519,403,874.63 at the end of 2019[10]. - The net assets attributable to shareholders at the end of 2020 were ¥11,077,772,083.16, up 13.44% from ¥9,765,729,812.37 at the end of 2019[10]. - The basic earnings per share for 2020 was ¥1.77, representing a 24.65% increase from ¥1.42 in 2019[10]. - The diluted earnings per share for 2020 was also ¥1.77, reflecting the same percentage increase of 24.65% from ¥1.42 in 2019[10]. - The weighted average return on equity for 2020 was 16.23%, an increase from 14.99% in 2019[10]. - The company reported a net profit of ¥575,664,424.63 in Q4 2020, which was the highest quarterly profit for the year[12]. Market Conditions - The company faces risks including a decline in oil and gas prices, intensified market competition, and the impact of the COVID-19 pandemic[2]. - In 2020, the global oilfield equipment and services market expenditure was $192.1 billion, a decrease of 29% compared to 2019, marking the lowest level since 2005[18]. - Brent crude oil average price in 2020 was $43 per barrel, a significant decline of 33% from 2019[18]. - In 2020, China's crude oil production reached 195 million tons, an increase of 2%, while natural gas production was 188.8 billion cubic meters, up approximately 8.9%[18]. - The company’s strategy focuses on "selective adherence and adaptive transformation" amid the ongoing downturn in the oil and gas industry due to the pandemic[23]. Business Operations - The company operates in the oil and gas equipment manufacturing and technical services sector, providing drilling and completion equipment, oilfield technical services, and environmental services[4]. - The company has not changed its main business since its listing, indicating stability in its operational focus[8]. - The company has not reported any changes in its controlling shareholders since its establishment, indicating stable ownership[8]. - The company has engaged Zhongxi Accounting Firm for auditing services during the reporting period[9]. - The company has a registered address at 5 Jereh Road, Laishan District, Yantai City, with a postal code of 264003[5]. - The company has a dedicated investor relations email for inquiries, ensuring communication with stakeholders[6]. Research and Development - The company launched several new products, including a complete set of turbine fracturing equipment and a 7000-type electric fracturing device, enhancing its competitive edge[30]. - The company initiated a digital transformation plan, implementing various information systems to integrate production and operations[30]. - The company has committed to digital and intelligent upgrades across its operations, reflecting its focus on technological innovation and transformation[26]. - The number of R&D personnel increased by 1.12% to 1,176 in 2020, maintaining a stable proportion of 23.34% of total employees[47]. - R&D expenses increased by 11.47% to ¥303,925,808.16 in 2020 from ¥272,653,765.79 in 2019, representing 3.66% of operating revenue[47]. Social Responsibility - The company donated CNY 10 million to establish a fund for COVID-19 relief efforts, demonstrating its commitment to social responsibility[31]. - The company has established pollution prevention facilities, including a chromium wastewater treatment system and a biological deodorization system, which have passed environmental assessments and are currently operating normally[154]. - The company has committed to regular environmental monitoring through third-party agencies to ensure compliance with pollution discharge standards[157]. Shareholder Information - The company reported a cash dividend of 1.8 RMB per 10 shares (including tax) based on a total share capital of 954,756,884 shares as of December 31, 2020[2]. - The total cash dividend for 2020, including share buybacks, is 252,841,900.43 CNY, accounting for 14.96% of the net profit attributable to shareholders[98]. - The company repurchased a total of 3,097,108 shares in 2020, with a total transaction amount of 80,985,661.31 CNY, which is included in the cash dividend calculation[100]. - The cash dividend payout ratio for 2018 was 18.68%, for 2019 was 11.26%, and for 2020 is projected to be 10.17%[98]. - The company’s total share capital as of December 31, 2020, was 957,853,992 shares, after excluding the repurchased shares[99]. Risk Management - The company emphasizes the importance of risk awareness for investors regarding forward-looking statements and future plans[2]. - The company has implemented a risk control system for foreign exchange hedging, ensuring that all transactions are based on normal business operations to mitigate currency and interest rate risks[63]. - The company’s risk control measures are designed to enhance responsiveness to potential risks while maintaining effective risk management practices[63]. - The company is exposed to intensified market competition due to new policies that relax restrictions on foreign investment in oil and gas exploration and development[85]. - The ongoing COVID-19 pandemic may impact the company's procurement, equipment sales, and engineering services, affecting overall performance in 2021[89]. Corporate Governance - The company has established clear management responsibilities and internal controls to prevent risks associated with foreign exchange hedging operations[63]. - The company has a fully independent financial accounting system and management practices, with dedicated financial personnel and separate bank accounts[197]. - The company has established a comprehensive governance structure, including a board of directors and specialized committees, in compliance with relevant laws and regulations[196]. - The company maintains complete independence from its controlling shareholder in terms of business, personnel, assets, and finance, ensuring autonomous operational capabilities[197]. Future Outlook - The company plans to enhance its digital transformation and management capabilities, focusing on improving product quality and customer-centric services[76]. - The company anticipates global oil demand to recover in 2021, with international oil prices expected to stabilize between $50 and $70 per barrel[75]. - The company plans to explore clean energy sectors, including hydrogen energy, while maintaining its focus on oil and gas equipment manufacturing[30]. - The company aims to develop a comprehensive oilfield integrated service model, including reservoir evaluation and oilfield operation management[78]. - The company is committed to advancing its digital transformation, enhancing operational efficiency through digital tools and data analysis[81].