Palm(SZ:002431)2021-07-22 16:00Financial Performance - The company's operating revenue for 2020 was approximately ¥4.82 billion, representing a 77.98% increase compared to ¥2.71 billion in 2019[26]. - The net profit attributable to shareholders in 2020 was approximately ¥44.24 million, a significant recovery from a net loss of ¥981.45 million in 2019, marking a 104.51% improvement[26]. - The net cash flow from operating activities improved to approximately ¥90.68 million in 2020, compared to a negative cash flow of ¥242.29 million in 2019, reflecting a 137.42% increase[26]. - The total assets at the end of 2020 were approximately ¥16.45 billion, a decrease of 4.31% from ¥17.20 billion at the end of 2019[26]. - The company's basic earnings per share for 2020 was ¥0.03, recovering from a loss of ¥0.66 per share in 2019[26]. - The weighted average return on equity for 2020 was 0.97%, a significant improvement from -19.40% in 2019[26]. - The company achieved a revenue of 4.821 billion yuan in 2020, representing a year-on-year growth of 77.98%[56]. - The net profit attributable to shareholders was 44.2421 million yuan, an increase of 104.51% compared to the previous year[56]. - The company's operating costs for 2020 reached CNY 3.87 billion, a 51.68% increase compared to CNY 2.55 billion in 2019[79]. Business Strategy and Development - The company plans to optimize its traditional ecological environment business structure to address increasing market competition and declining gross margins[10]. - The company is focusing on prudent management of existing PPP projects while exploring new opportunities in the PPP business model[10]. - The company’s strategic focus includes the development of smart urban construction as a core, with ecological towns and innovative businesses as supporting wings[13]. - The company has adjusted its business scope to include urbanization construction investment and ecological environment management, reflecting a strategic shift in operations[24]. - The company aims to enhance its operational capabilities in ecological towns by building a light asset operation platform, promoting a shift towards platformization and multi-point profitability[40]. - The company plans to raise up to ¥1.16 billion through a private placement of shares, aimed at enhancing working capital and reducing interest-bearing liabilities[61]. - The company plans to focus on ecological restoration, environmental governance, and integrated engineering contracting as part of its strategic transformation in response to industry trends[125]. - The company aims to enhance its core competitiveness by improving its capabilities in planning, design, engineering construction, and ecological protection[125]. - The company will continue to implement its "one body, two wings" development strategy, emphasizing smart urban construction and financial empowerment[126]. Risk Management and Governance - The company aims to enhance internal control management and improve information management levels to mitigate operational risks[13]. - The company is committed to strengthening its internal governance and risk management in response to its diversified business structure[13]. - The company has initiated 35 internal control systems to enhance governance and operational efficiency[61]. - The company will strengthen internal control systems and risk management to improve operational management levels[130]. - The company has established a management framework to ensure clear operational boundaries and enhance decision-making processes[130]. Market Conditions and Challenges - The company reported a significant impact from the COVID-19 pandemic, leading to a decrease in visitor numbers and operational revenue for its eco-town projects[12]. - The overall macroeconomic environment remains complex, with ongoing uncertainties affecting business operations[9]. Investments and Projects - The company secured over 20 major projects during the reporting period, with a total bid amount of approximately 15 billion yuan, providing strong support for operational performance[56]. - The company has cumulative investments of RMB 1.398 billion in various PPP projects as of the reporting period[172][174]. - The company won the bid for the "EPC General Contracting Project for 28 Provincial Poverty Alleviation Villages" with a total investment of CNY 560 million, achieving revenue of CNY 85.32 million by the end of the reporting period[176]. - The company signed a contract for the "Rainflower District Road Quality Improvement Project" with a contract amount of CNY 420 million, achieving revenue of CNY 230.76 million by the end of the reporting period[177]. Shareholder and Dividend Policies - The company will not distribute cash dividends or issue bonus shares for the fiscal year[7]. - The company has not proposed any cash dividends for the past three years, maintaining a policy of prioritizing cash dividends when feasible[134]. - The company committed to distributing no less than 30% of the average distributable profit over the last three years in cash dividends[144]. - The company plans to conduct cash dividends annually, subject to profitability and funding needs, with a minimum cash dividend ratio[144]. Related Party Transactions - The company reported a related party transaction amounting to 153,439.64 thousand yuan, which represents 40.56% of similar transactions[160]. - The total amount of related party transactions for the period was 159,017.55 thousand yuan, with an approved transaction limit of 200,000 thousand yuan[160]. - The company engaged in daily related party transactions primarily for construction services and other operational needs[160]. Research and Development - The company holds 2 authorized patents and 6 software copyrights, reflecting its commitment to research and development[60]. - The company invested CNY 167,676,512.02 in R&D in 2020, an increase of 47.71% compared to CNY 113,515,680.83 in 2019[91]. - The number of R&D personnel increased by 12.72% from 173 in 2019 to 195 in 2020, with R&D personnel accounting for 14.02% of the total workforce[91]. - The company plans to establish more R&D projects to support business development based on future needs and technological applications[90]. Compliance and Legal Matters - The company has no significant litigation or arbitration matters during the reporting period[158]. - There were no penalties or rectification measures during the reporting period[159]. - The company reported no violations regarding external guarantees during the reporting period[199].