FAST PRINT(SZ:002436)2021-11-03 16:00Financial Performance - The company's operating revenue for 2020 was CNY 4,034,655,205.99, representing a 6.07% increase compared to CNY 3,803,722,198.74 in 2019[13]. - The net profit attributable to shareholders for 2020 was CNY 521,551,934.79, a significant increase of 78.66% from CNY 291,916,734.51 in 2019[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 291,899,939.54, up 13.62% from CNY 256,910,559.67 in 2019[13]. - The basic earnings per share for 2020 was CNY 0.35, reflecting a 75.00% increase from CNY 0.20 in 2019[13]. - The total revenue for 2020 reached CNY 4,034,655,205.99, representing a year-on-year increase of 6.07%[37]. - The PCB business generated revenue of CNY 308,617.57 million, with a year-on-year growth of 5.63% and a gross margin of 32.57%, up by 0.64 percentage points[35]. - Semiconductor business revenue was CNY 838,584,189.76, showing a year-on-year growth of 4.61%[39]. - The IC packaging substrate business achieved revenue of CNY 336,158,882.05, with a significant growth of 13.00%[39]. Cash Flow and Investments - The net cash flow from operating activities decreased by 20.60% to CNY 407,672,002.49 from CNY 513,457,721.00 in 2019[13]. - The total cash inflow from investment activities increased by 133.18% to CNY 2,016,827,537.12 in 2020, while cash outflow from investment activities doubled to CNY 2,461,700,772.95[52]. - The net cash flow from financing activities significantly improved, reaching CNY 369,052,270.22, a 458.25% increase from the previous year[52]. - The net increase in cash and cash equivalents was CNY 332,259,786.21, representing a remarkable growth of 715.59% year-on-year[52]. - The company reported a total investment of CNY 481,600,772.95 in 2020, a 147.20% increase compared to CNY 194,822,520.64 in the previous year[59]. Market and Industry Insights - The global PCB market value was approximately $62.5 billion in 2020, reflecting a year-on-year growth of about 6.4%[20]. - The PCB industry is expected to grow at a compound annual growth rate of approximately 5.8% until 2025, reaching $79.2 billion[20]. - The demand for high-density interconnect (HDI) PCBs is projected to increase, with HDI shipments expected to account for 70% of mobile phone demand by 2024[20]. - The global automotive FPC market is expected to reach 7 billion yuan in 2022, with a compound annual growth rate of 7.1%, driven by the increasing demand for electric vehicles[21]. - The semiconductor industry in China saw a sales revenue of 590.58 billion yuan in the first nine months of 2020, representing a year-on-year growth of 16.9%[22]. Research and Development - The company has applied for a total of 104 patents, including 52 invention patents, demonstrating its commitment to innovation and R&D[27]. - The company has increased R&D investment, resulting in a 0.72 percentage point rise in R&D expense ratio[35]. - Research and development expenses for 2020 amounted to ¥238,826,055.94, an increase of 20.72% compared to ¥197,840,530.75 in 2019[48]. - The company expanded its R&D team to 450 personnel, a 9.76% increase from 410 in 2019[51]. - The company has established joint laboratories with major global players, enhancing its R&D capabilities in 5G, cloud services, and other advanced technologies[28]. Corporate Governance and Compliance - The company has engaged Zhonghua Certified Public Accountants for auditing services during the reporting period[11]. - The company has appointed Minsheng Securities as its sponsor institution for continuous supervision[12]. - The company did not experience any major litigation or arbitration matters during the reporting period[106]. - The company has not faced any delisting risks following the annual report disclosure[105]. - The company’s auditor, Zhonghua Certified Public Accountants, has been engaged for 8 consecutive years, with an audit fee of RMB 1.39 million for the current period[104]. Dividend Policy - The company plans to distribute a cash dividend of CNY 0.80 per 10 shares to all shareholders, totaling approximately 117.84 million yuan for the 2020 fiscal year[91]. - The cash dividend for 2020 represents 22.59% of the net profit attributable to ordinary shareholders, which was approximately 521.55 million yuan[91]. - The company has consistently paid cash dividends over the past three years, with increasing amounts each year[91]. - The company has committed to maintaining a minimum cash dividend ratio of 20% during its growth phase[92]. Environmental and Social Responsibility - The company has implemented ISO14001:2015 environmental management system certification to enhance its environmental protection efforts[134]. - The company has established a comprehensive supplier management system to ensure fair and transparent procurement processes[134]. - The company has received multiple environmental certifications, including the "Green Environmental Excellent Enterprise" title for four consecutive years from 2017 to 2020[135]. - The company has actively participated in social responsibility initiatives, including job creation and public welfare[135]. - The company has established a long-term environmental protection mechanism focusing on risk identification and continuous improvement[135]. Future Outlook and Strategic Plans - The company anticipates a revenue growth of approximately 15% for the upcoming fiscal year, driven by new product launches and market expansion strategies[125]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in market share by 2022[125]. - A strategic acquisition of a local competitor is expected to enhance operational capabilities and increase revenue by an estimated 10% in the next fiscal year[125]. - The company aims to improve its financial health and operational efficiency in the upcoming fiscal year[192]. - The company is committed to maintaining a stable credit rating and ensuring timely debt repayment in the future[187].