YOTRIO(SZ:002489)2021-04-19 16:00Financial Performance - The company's operating revenue for 2020 was CNY 4,954,634,738.81, representing a 5.75% increase from 2019[18]. - Net profit attributable to shareholders for 2020 was CNY 530,211,488.87, a 6.04% increase compared to 2019[18]. - The net profit after deducting non-recurring gains and losses was CNY 416,245,360.15, showing a significant increase of 96.27% from the previous year[18]. - The company achieved total operating revenue of RMB 4.955 billion in 2020, a year-on-year increase of 5.75%[38]. - The net profit attributable to shareholders of the parent company reached RMB 530 million, up 6.04% year-on-year[38]. - The net profit after deducting non-recurring gains and losses was RMB 416 million, a significant increase of 96.27% year-on-year, marking a historical high[38]. - The outdoor leisure furniture and products segment accounted for 94.91% of total revenue, generating RMB 4.703 billion, up 5.65% from the previous year[40]. - The company reported a net profit of approximately CNY 530.2 million for 2020, an increase from CNY 500 million in 2019[106]. Dividend Distribution - The company reported a profit distribution plan, proposing a cash dividend of 1.5 RMB per 10 shares based on a total of 2,164,016,313 shares[4]. - The cash dividend per 10 shares for 2020 was set at CNY 1.5, pending shareholder approval[104]. - The company distributed cash dividends totaling approximately CNY 324.6 million, representing 61.22% of the net profit attributable to ordinary shareholders[106]. - The cash dividend payout ratio for 2019 was 52.22%, with a total cash dividend of approximately CNY 261.1 million[106]. - The company reported a total cash dividend amount of CNY 374.6 million for 2020, which includes other forms of cash dividends, accounting for 70.65% of the net profit[106]. - The company distributed a cash dividend of 1.5 CNY per 10 shares, totaling 324,602,446.95 CNY, which represents 100% of the distributable profit[107]. - The total cash dividend, including other methods, amounted to 374,612,370.79 CNY, fully utilizing the available profits[107]. - The company reported a total distributable profit of 533,093,608.94 CNY for the period[107]. Risk Management - The company emphasizes the importance of risk awareness among investors, highlighting various risks including exchange rate risk and market competition risk[4]. - The company faces risks related to exchange rate fluctuations, which may impact product pricing and financial management[97]. - The company faced risks related to raw material price fluctuations, particularly for steel and aluminum, which could impact production costs[99]. - The company is exposed to international trade policy changes in key markets such as Europe and North America, necessitating enhanced risk management[99]. - The company has implemented risk control measures for derivative investments, including timely reporting and analysis of significant risks[76]. Operational Stability - The company has not changed its main business since its listing, indicating stability in its operational focus[15]. - The company is focusing on improving internal management and cost control to support sustainable growth and efficiency[38]. - The company has established a robust sales network in North America and Europe, enhancing its market presence and customer base[34]. - The company is actively developing cross-border e-commerce business to adapt to changing consumer behaviors[38]. Inventory and Production - The company reported an increase in inventory due to a rise in sales orders, leading to higher production materials and stock[30]. - Inventory for outdoor leisure furniture and products increased by 38.06% to 3,345,678 units due to higher sales orders[45]. - The company’s total operating costs rose by 5.77% to ¥3,317,082,599.76, with material costs comprising 67.64% of total costs[46]. - The gross margin for outdoor leisure furniture and products was 29.47%, a slight decrease of 0.08% from the previous year[46]. Research and Development - The company has invested in R&D teams in Germany and the USA to strengthen its design capabilities and market responsiveness[34]. - The company’s research and development (R&D) investment reached RMB 191,721,851.92, representing 3.87% of the latest operating revenue, with a year-on-year increase of 5.96%[54][56]. Subsidiaries and Investments - The company established three new subsidiaries during the reporting period, which were included in the consolidated financial statements[49]. - The company established Henan Yongqiang Outdoor Products Co., Ltd. with an investment of 12,660,000.00, acquiring a 100% ownership stake[70]. - The company has decided to terminate the outdoor leisure products logistics center project due to delays and changes in economic feasibility, with remaining unused raised funds of CNY 6.31 million being transferred to excess raised funds management[82]. - The company has completed the new outdoor leisure products production line project and will transfer unused raised funds of CNY 1.11 million to excess raised funds management[82]. Shareholder Structure - The total number of common shareholders at the end of the reporting period was 106,694, an increase from 101,509 at the end of the previous month, representing a 5% increase[162]. - Zhejiang Yongqiang Industrial Co., Ltd. holds 37.94% of the shares, totaling 825,492,924 shares, with no changes in pledged shares[164]. - The top three individual shareholders, Xie Jianyong, Xie Jianping, and Xie Jianqiang, collectively hold 18.03% of the shares, with 134,606,749, 128,374,485, and 129,329,985 shares respectively[162]. Corporate Governance - The company continues to emphasize its commitment to corporate governance and transparency in its operations[172]. - The report indicates that the company has a structured approach to evaluate the operational performance of its management team[177]. - The audit committee held multiple meetings throughout 2020, discussing key reports including the 2019 annual financial statements and quarterly audit reports for 2020[197]. - The company has maintained a consistent leadership team with long tenures in their respective positions[176]. Environmental Compliance - The company’s wastewater discharge complies with the relevant pollution discharge standards, with total discharge amounts of 59,223.49 m³ and 19,404.15 m³ for different plants[140]. - The company established a wastewater treatment plant with a daily capacity of 800 tons, ensuring compliance with discharge standards[147]. - The company has implemented a pollution source monitoring and information disclosure system, achieving all emission indicators within standards for the year 2020[147].