Aerospace CH UAV (SZ:002389)2021-03-31 16:00Financial Performance - The company's operating revenue for 2020 was ¥2,988,331,300.23, a decrease of 3.62% compared to ¥3,100,495,301.11 in 2019[6]. - Net profit attributable to shareholders for 2020 was ¥273,938,422.58, an increase of 18.14% from ¥231,882,442.04 in 2019[6]. - The net profit after deducting non-recurring gains and losses was ¥203,570,653.03, a decrease of 13.40% compared to ¥235,078,271.36 in 2019[6]. - The net cash flow from operating activities increased by 27.67% to ¥410,581,556.31 from ¥321,595,319.14 in 2019[6]. - The total assets at the end of 2020 were ¥8,802,879,003.96, representing a 7.97% increase from ¥8,153,161,162.27 at the end of 2019[6]. - The net assets attributable to shareholders at the end of 2020 were ¥6,614,570,326.12, a 2.91% increase from ¥6,427,640,254.26 at the end of 2019[6]. - The company reported a basic earnings per share of ¥0.29, up 16.00% from ¥0.25 in 2019[6]. - The company achieved total revenue of 2.988 billion yuan in 2020, a decrease of 3.62% compared to the previous year, while net profit attributable to shareholders increased by 18.14% to 274 million yuan[43]. - The total operating revenue for the reporting period was ¥2,988,331,300.23, a decrease of 3.62% compared to ¥3,100,495,301.11 in the previous year[57]. Dividend Distribution - The company plans to distribute a cash dividend of 0.4 RMB per 10 shares to all shareholders, based on a total of 946,062,685 shares[2]. - In 2020, the company distributed cash dividends of RMB 0.40 per 10 shares, totaling RMB 37,842,507.40, which represents 13.81% of the net profit attributable to ordinary shareholders[109][110]. - For 2019, the cash dividend was RMB 0.30 per 10 shares, amounting to RMB 28,381,880.55, accounting for 12.24% of the net profit attributable to ordinary shareholders[110]. - In 2018, the cash dividend was also RMB 0.30 per 10 shares, totaling RMB 28,381,880.55, which was 11.74% of the net profit attributable to ordinary shareholders[110]. - The cash dividends distributed in 2020 accounted for 100% of the total distributable profits[111]. - The company has a cash dividend policy that is compliant with its articles of association and shareholder resolutions[108]. Business Operations and Segments - The company operates in two main business segments: drone business and new materials business, focusing on drone system sales, diversified application services, and high-end drone design and R&D[19]. - The company has developed a complete range of drone products, including the "Rainbow" series, which has achieved international competitiveness and is widely recognized[21]. - The company is actively promoting the application of drones in civil sectors, completing various projects in industries such as geology, marine, public security, and environmental monitoring[22]. - The company has an annual production capacity of 12,000 tons for capacitor polypropylene film, focusing on ultra-thin and high-temperature resistant products[25]. - The functional polyester film business has an annual production capacity of 80,000 tons, with a leading market share in photovoltaic backsheet materials[27]. - The optical film products cover all categories required by the liquid crystal display industry, with high-quality standards and strong profitability[32]. - The company maintains a leading position in the capacitor polypropylene film industry, continuously expanding into new energy sectors[30]. - The company has developed advanced technologies for high-temperature polypropylene films and metallized polypropylene films for various applications[26]. - The company has established a comprehensive ecosystem in the new materials sector, integrating three major business segments: capacitor polypropylene film, functional polyester film, and optical film[24]. Research and Development - The total R&D expenditure for 2020 was CNY 198.36 million, representing 6.64% of operating revenue, an increase from 5.93% in 2019[70]. - The number of R&D personnel increased by 3.10% to 466 in 2020, with R&D personnel accounting for 22.69% of the total workforce[70]. - The company completed over 100 patent applications and published more than 70 papers during the reporting period, reflecting its commitment to innovation and research[48]. - The company is investing in R&D for various drone models, including the CH-5 and CH-6, and aims to complete multiple annual research tasks, including the development of a second-generation general simulation training system[92]. Market Expansion and Strategy - The company is focusing on expanding its market presence in Africa and the Middle East, leveraging its experience in practical applications of drone technology[84]. - The company aims to strengthen market expansion efforts, focusing on both domestic and international markets, and plans to optimize its product structure in the new materials business to increase the market share of high-value-added products[91]. - The company anticipates a significant growth in the demand for automotive capacitors, projecting a threefold increase by 2025, which will drive the demand for ultra-thin film capacitors[86]. - The optical film market is expected to see a demand of 1.3 billion square meters in 2023, driven by the growth of LCD panel production and consumer electronics[88]. - The renewable energy sector is projected to see explosive growth, with solar power generation capacity increasing by 821.32% from 2014 to 2019, indicating a vast market potential for new materials[87]. Risk Management - The company recognizes risks related to macro policy changes, which could impact its international drone market performance due to fluctuations in the global military trade environment[98]. - The company faces exchange rate fluctuation risks, as its export business is primarily priced in USD while transactions are settled in RMB, which could affect its business scale and profits[99]. - The company acknowledges the risk of technology innovation, as its growth heavily relies on keeping pace with industry demands and technological advancements[100]. - The company is aware of customer concentration risks in its drone trade business, which could lead to operational risks due to changes in individual customer demands[101]. - The company is addressing risks related to quality control and contract fulfillment in its drone and new materials businesses, which could impact market development and after-sales service[102]. Corporate Governance and Compliance - The company has committed to not interfere with the management activities of Nanyang Technology and to compensate for any losses caused by violations of this commitment[121]. - The company has established measures to avoid competition with Nanyang Technology by key individuals, ensuring no direct or indirect involvement in competing businesses[122]. - The company has made long-term commitments regarding major asset restructuring and profit compensation agreements[121]. - The company guarantees that any business opportunities that may compete with Nanyang Technology will be offered to Nanyang Technology first under fair terms[116]. - The company will ensure that related transactions are conducted at market prices and in compliance with relevant laws and regulations[119]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 67,590, a decrease from 92,621 at the end of the previous month[178]. - The largest shareholder, China Aerospace Aerodynamics Research Institute, holds 21.83% of the shares, totaling 206,480,242 shares[190]. - The second-largest shareholder, Taizhou Jintou Aerospace Co., Ltd., owns 15.79% of the shares, amounting to 149,400,000 shares[190]. - The total number of shares after the recent changes is 946,062,685, with 91.74% being unrestricted shares[174]. - The company’s stock structure now includes 8.26% of restricted shares held by other domestic investors[174]. Environmental and Social Responsibility - The company is actively involved in environmental protection and does not fall under the category of key pollutant discharge units as per environmental regulations[169]. - The company has implemented a safety production responsibility system to prevent major safety and environmental incidents[163]. - The company committed 800,000 RMB to support poverty alleviation projects in the Liangzhong City area, focusing on developing local industries[166]. - The company donated 300,000 RMB for pandemic prevention efforts during 2020, including 150,000 RMB to local charitable organizations[166].