DSBJ(SZ:002384)2021-04-14 16:00Financial Performance - The company's operating revenue for 2020 was ¥28,093,409,430.26, representing a 19.28% increase compared to ¥23,552,825,103.23 in 2019[6]. - The net profit attributable to shareholders for 2020 was ¥1,530,132,196.09, a significant increase of 117.76% from ¥702,656,380.67 in 2019[6]. - The net profit after deducting non-recurring gains and losses was ¥1,301,219,335.83, which is a 210.72% increase compared to ¥418,778,063.97 in 2019[6]. - The net cash flow from operating activities for 2020 was ¥2,932,168,894.65, up 10.59% from ¥2,651,461,601.10 in 2019[6]. - The total assets at the end of 2020 were ¥37,503,068,713.54, an 18.42% increase from ¥31,670,271,635.86 at the end of 2019[6]. - The net assets attributable to shareholders at the end of 2020 were ¥13,068,916,872.79, reflecting a 51.15% increase from ¥8,646,124,544.20 at the end of 2019[6]. - The company's total operating revenue for 2020 was ¥28,093,409,430.26, representing a year-on-year increase of 19.28% from ¥23,552,825,103.23 in 2019[48]. - The revenue from the computer, communication, and other electronic device sector accounted for 99.73% of total revenue, with a year-on-year growth of 19.30%[48]. - The electronic circuit products generated ¥18,771,308,897.12, making up 66.82% of total revenue, with a significant year-on-year increase of 28.07%[48]. - The company's export revenue reached ¥20,475,725,917.60, which is 72.88% of total revenue, showing a year-on-year growth of 27.64%[48]. Dividend Distribution - The company reported a profit distribution plan, proposing a cash dividend of 1 RMB per 10 shares based on a total of 1,709,867,327 shares[5]. - In 2020, the company distributed a cash dividend of 1 yuan per 10 shares, totaling 170,986,732.70 yuan, which represents 11.17% of the net profit attributable to shareholders[104]. - The cash dividend amount for 2019 was 80,328,623.85 yuan, which accounted for 11.43% of the net profit attributable to shareholders[103]. - The cash dividend amount for 2018 was 88,361,486.24 yuan, representing 10.89% of the net profit attributable to shareholders[103]. - The company has committed to a continuous and stable profit distribution policy, ensuring the protection of minority shareholders' rights[101]. - The cash dividend for 2020 is fully compliant with the company's articles of association and will be submitted for shareholder approval[104]. - The company has maintained a commitment to transparency and compliance in its dividend distribution process[102]. - The company has not engaged in any share buybacks or other forms of cash distribution aside from the declared dividends[104]. Business Expansion and Strategy - The company has strategically expanded its business to include electronic circuits and optoelectronics, aiming to provide comprehensive smart interconnection solutions[16]. - The company emphasizes its commitment to developing leading core components for a smart interconnected world, targeting global customers[16]. - The company has established a new production base in Yancheng, Jiangsu Province, enhancing its manufacturing capabilities[16]. - The company continues to focus on the development of core components for smart interconnected devices across various industries, including consumer electronics and automotive[27]. - The company is actively promoting the commercialization of Mini LED technology, having developed multiple products tailored to different end-user needs[42]. - The company is actively pursuing the construction of smart factories to enhance management efficiency and align with national smart manufacturing strategies[43]. - The company plans to increase R&D investment to promote the commercialization of new technologies such as Mini LED and AR/VR products[93]. - The company aims to enhance its competitive edge in the FPC industry by optimizing product structure and increasing the proportion of high-value-added products[93]. Research and Development - The company invested over 900 million yuan in R&D in 2020, with eight subsidiaries recognized as high-tech enterprises and holding hundreds of patents[33]. - Research and development (R&D) expenses rose by 17.48% to ¥910,253,381.44, accounting for 3.24% of total revenue[61]. - The number of R&D personnel decreased slightly by 0.66% to 3,487, while the proportion of R&D staff to total employees was 16.59%[60]. - The company is focusing on research and development of new products to meet market demands and improve competitiveness[183]. Market Position and Recognition - The company is recognized as one of the top three FPC manufacturers and top four PCB manufacturers globally, focusing on providing comprehensive solutions for leading clients[27]. - The company has been recognized as one of the top 100 competitive enterprises in the electronic information sector in 2020 and was included in the CSI 300 index[39]. - The company ranks among the top three global FPC manufacturers and the top four PCB manufacturers, providing comprehensive PCB products and services to leading clients[87]. - The LED industry is experiencing a recovery, with increasing demand for small-pitch products and Mini LED technology expected to become mainstream[88]. Financial Management and Structure - The company operates under the Shenzhen Stock Exchange with the stock code 002384[13]. - The company has a registered capital of 1.7 billion RMB, reflecting its substantial financial base[5]. - The company’s asset-liability ratio decreased by 7.67% to 64.87% by the end of 2020[39]. - The company is implementing a strategy focused on reducing debt, optimizing capital structure, and ensuring sustainable development[44]. - The company has committed to ensuring timely repayment of debts according to the supplementary agreement, with plans to prioritize the use of funds from stock sales for debt repayment if necessary[107]. - The company has established a compensation mechanism linked to the execution of measures to offset the dilution of immediate returns from non-public stock issuance[106]. - The company has committed to not interfering with the management activities of the company and not infringing on its interests[106]. Corporate Governance - The company has established a comprehensive corporate governance structure in compliance with the Company Law and Articles of Association, ensuring independent operation of the shareholders' meeting, board of directors, and supervisory board[199]. - The governance structure of the company is compliant with relevant laws and regulations, ensuring effective checks and balances[197]. - The company has maintained a stable management team with no significant changes in senior management during the reporting period[179]. - The board of directors has undergone changes, with several new independent directors elected on May 29, 2020, to strengthen governance[181]. Environmental and Social Responsibility - The company is classified as a key pollutant discharge unit, with various pollutants monitored and reported within permissible limits[140]. - The company has established comprehensive pollution control facilities and maintains good operational status for these facilities[142]. - The company has developed emergency response plans for environmental incidents and conducts regular drills[144]. - The company actively participated in social responsibility initiatives, including support for underdeveloped areas, although no specific poverty alleviation projects were reported for the year[139]. - The company donated RMB 10 million to support COVID-19 prevention efforts in Hubei Province[147]. Risks and Challenges - The company faces risks related to customer concentration, with the top five customers accounting for a significant portion of revenue, which could impact operations if their financial health declines[94]. - The rapid technological upgrades in the industry pose a risk of product obsolescence if the company's R&D capabilities do not keep pace[94]. - The ongoing COVID-19 pandemic continues to pose uncertainties that may affect global economic conditions and consumer demand[96]. - The company is monitoring international trade risks and will strengthen communication with clients to maintain competitiveness amid changing trade policies[95].