ASD(SZ:002403)2021-04-27 16:00Financial Performance - The company's operating revenue for 2020 was ¥2,892,946,072.26, a decrease of 18.33% compared to ¥3,542,141,915.03 in 2019[18]. - The net profit attributable to shareholders for 2020 was ¥102,683,614.99, down 20.30% from ¥128,838,723.68 in 2019[18]. - The net profit after deducting non-recurring gains and losses was -¥183,851,077.74, a decline of 294.08% compared to ¥94,728,430.79 in 2019[18]. - The total revenue for 2020 was ¥2,892,946,072.26, a decrease of 18.33% compared to ¥3,542,141,915.03 in 2019[49]. - The industrial segment contributed ¥2,821,181,184.32, accounting for 97.52% of total revenue, with a year-on-year decrease of 18.30%[49]. - The revenue from kitchenware was ¥2,267,776,170.46, representing 78.39% of total revenue, down 17.09% from the previous year[49]. - The revenue from small appliances dropped significantly by 38.10% to ¥275,129,833.56, compared to ¥444,474,733.42 in 2019[49]. - The company reported a total revenue of 200 million for the month of September, reflecting a 51.89% increase compared to the previous month[84]. - The company reported a total revenue of 50 million for the year 2020, reflecting a year-over-year growth of 5.48%[86]. - The total revenue for the year 2020 was 9,810 million RMB, representing a 0.73% increase compared to the previous year[87]. Cash Flow and Investments - The net cash flow from operating activities increased by 81.92% to ¥46,410,252.77 from ¥25,512,026.16 in 2019[18]. - The total cash and cash equivalents increased by 299.00% to ¥190,521,814.25, compared to a decrease in the previous year[62]. - Investment activities generated a net cash flow of ¥75,725,067.52, a significant increase of 125.26% year-on-year[64]. - The company reported a total of 6,750 million in entrusted financial management from its own funds, with an overdue balance of 1,150 million[181]. - The company has committed to invest RMB 84,736.6 million in various projects, with a cumulative investment of RMB 83,811.89 million, achieving an investment progress of 98.9%[95]. Dividends and Shareholder Returns - The company reported a profit distribution plan of cash dividends of 0.75 RMB per 10 shares, based on a total of 340,638,579 shares[4]. - A cash dividend of CNY 25,547,893.43 was declared, representing 100% of the total profit distribution amount[121]. - The cash dividend payout ratio for 2020 is 24.88% of the net profit attributable to shareholders[120]. - The company plans to maintain its dividend policy in line with its long-term development needs and shareholder interests[122]. Market and Product Development - The company launched several new products targeting young consumers, including the fifth generation 316L crystal frying pan and the sixth generation titanium non-stick frying pan[43]. - The company established a new marketing division in 2020 to enhance its e-commerce strategy, focusing on partnerships with platforms like Taobao and JD.com[43]. - The company expanded its international marketing network, aiming to increase foreign sales through self-owned brand clients[43]. - The company is investing in new product development, aiming to launch innovative products in the upcoming quarters to drive further growth[84]. - Aishida plans to enhance its product offerings in the small home appliance sector by focusing on consumer needs and expanding its e-commerce channels, including live-streaming platforms[111]. Risks and Challenges - The company has no significant risks affecting its normal operations[4]. - The company emphasizes the uncertainty of forward-looking statements due to market conditions and operational efforts[4]. - The company faces risks from rising labor and raw material costs, which may pressure future profitability[113]. - The company reported a negative net profit for the last three accounting years after deducting non-recurring gains and losses, indicating uncertainty in its ability to continue as a going concern[18]. Corporate Governance and Compliance - The company has not reported any litigation situations during the reporting period, indicating a stable operational environment[87]. - The company has not engaged in any major litigation or arbitration matters during the reporting period, indicating a stable legal environment[152]. - The company has established a comprehensive human resources management system, ensuring timely salary payments and social insurance for employees[186]. - The company has fulfilled its commitments regarding the use of trademarks and the employment of key personnel as per previous agreements[124]. Environmental and Social Responsibility - The company actively participates in social responsibility initiatives, including support for education and disaster relief[190]. - The company has not faced any environmental penalties or required rectifications from regulatory authorities[189]. - The company emphasizes sustainable development and has implemented measures to minimize environmental impact during production[189]. - The company has established a monitoring system for pollutants, ensuring compliance with environmental regulations[194]. Subsidiaries and Acquisitions - The company established three wholly-owned subsidiaries during the reporting period, expanding its operational scope[56]. - The company has the right to request a buyback of shares if Jiangchen Intelligent fails to meet the agreed net profit targets[129]. - The company plans to require the repurchase of its shares in Jiangchen Intelligent from shareholders Zhu Lizhou and Xiang Jing due to unmet performance commitments[131].