双箭股份(002381) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was CNY 1,811,149,393.46, representing an increase of 18.74% compared to CNY 1,525,277,062.57 in 2019[15] - The net profit attributable to shareholders for 2020 was CNY 315,417,604.33, up 26.86% from CNY 248,630,128.49 in 2019[15] - The net cash flow from operating activities increased by 34.15% to CNY 366,577,824.01 in 2020, compared to CNY 273,258,126.06 in 2019[15] - Basic earnings per share for 2020 were CNY 0.77, reflecting a growth of 28.33% from CNY 0.60 in 2019[15] - Total assets at the end of 2020 reached CNY 2,651,239,381.88, a 13.88% increase from CNY 2,328,044,904.28 at the end of 2019[15] - The net assets attributable to shareholders increased by 10.75% to CNY 1,967,489,101.66 at the end of 2020, compared to CNY 1,776,435,909.29 at the end of 2019[15] - The company reported a weighted average return on equity of 16.84% for 2020, up from 14.32% in 2019[15] - The net profit after deducting non-recurring gains and losses for 2020 was CNY 298,808,478.09, an increase of 25.08% from CNY 238,894,062.23 in 2019[15] Dividend Policy - The company plans to distribute a cash dividend of CNY 5 per 10 shares (including tax) based on a total share capital of 411,572,264 shares as of the end of 2020[4] - The proposed cash dividend for 2020 is CNY 5.00 per 10 shares, totaling CNY 205,786,132.00, which is 65.24% of the net profit[99][101] - The company has maintained a consistent cash dividend policy over the past three years, with cash dividends of CNY 2.00 per 10 shares in 2018 and 2019, and CNY 3.00 per 10 shares in 2019[98][100] - The cash dividend payout ratio for 2020 is 100% of the total distributable profit[101] - The cash dividend distribution plan for 2020 is subject to approval at the annual shareholders' meeting[102] Sales and Market Performance - Total revenue for the first quarter was ¥298,123,092.66, while the fourth quarter revenue reached ¥535,745,000.39, indicating a significant increase in sales towards the end of the year[19] - The net profit attributable to shareholders for the second quarter was ¥92,748,894.75, representing a 73.2% increase compared to the first quarter's net profit of ¥53,415,941.79[19] - The net cash flow from operating activities in the third quarter was ¥118,560,543.70, which is a 37% increase from the second quarter's ¥86,614,114.85[19] - The revenue from the rubber and plastic products segment was CNY 1,777,628,971.02, accounting for 98.15% of total revenue, with a year-on-year growth of 18.60%[55] - The company exported products worth CNY 353,293,125.15 in 2020, benefiting from a 13% export tax rebate policy[52] - The sales volume of rubber and plastic products reached 5,810.93 million square meters, a 26.00% increase compared to 4,611.76 million square meters in 2019[58] Production and Capacity - In 2020, the company produced 57.24 million square meters of conveyor belts, an increase of 28.82% year-on-year, and sold 58.11 million square meters, up 26.00% year-on-year[42] - The company's operating revenue reached 1.81 billion yuan, a year-on-year growth of 18.74%, with operating profit of 380.82 million yuan, up 28.03% year-on-year[42] - The company is expanding its production capacity with the "annual production of 10 million square meters steel wire core conveyor belt project" that began production in 2020[42] - The company’s conveyor belt production capacity is currently 65 million square meters, with a utilization rate of 95.39%[49] - The company aims to increase its production capacity from 65 million square meters to over 150 million square meters by the end of the 14th Five-Year Plan[82] Research and Development - The company has established a digital platform for data integration and launched a digital manufacturing project, aiming for unified production management and improved data control[46] - The company developed 8 new products, including 1 key technology innovation project and 4 new products recognized by the provincial science and technology department[44] - The company has obtained 1 international patent and 4 domestic patents, focusing on technology innovation and optimizing product structure[45] - Research and development expenses increased by 14.77% to ¥53,973,746.03, representing 2.98% of operating revenue[67] - The company has invested 50 million RMB in R&D for innovative rubber technologies, aiming to improve product durability and performance[169] Risk Management - The company emphasizes the importance of monitoring potential risk factors that may affect future performance as outlined in the report[4] - The company faces risks from the COVID-19 pandemic, which may impact future export business due to global uncertainties[87] - The company acknowledges macroeconomic instability as a risk, with potential impacts on demand for its products in industries like coal, electricity, and steel[89] - The company has established a subsidiary in Yunnan to secure natural rubber supply, mitigating risks from raw material price fluctuations[90] Corporate Governance - The company has a strong governance structure, complying with relevant laws and regulations, and has revised its articles of association during the reporting period[183] - The board of directors consists of nine members, including three independent directors, which is more than one-third of the total[187] - The company has established an internal audit system to ensure effective internal control over daily operations[191] - Independent directors actively participated in board meetings, with attendance rates of 100% for most[197] - The company has established a transparent information disclosure system, enhancing communication with investors[192] Employee Management - The total number of employees in the company is 1,648, with 553 in the parent company and 1,095 in major subsidiaries[178] - The company has a total remuneration of 705.38 million CNY for directors, supervisors, and senior management during the reporting period[177] - The company has implemented a comprehensive training program aimed at improving employee skills and overall efficiency, covering various aspects such as professional skills and safety management[180] - The company actively protects employee rights and provides a comfortable working environment, adhering to labor laws and regulations[131] Environmental Responsibility - The company emphasizes environmental protection and sustainable development, investing in clean production and energy-saving initiatives[133] - The company does not belong to the key pollutant discharge units as per environmental protection department announcements[135] - The company has not faced any penalties for environmental violations during the reporting period[135]