*ST天沃(002564) - 2020 Q4 - 年度财报

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2020, representing a year-on-year increase of 15%[14]. - The net profit attributable to shareholders was RMB 150 million, which is a 10% increase compared to the previous year[14]. - The company's operating revenue for 2020 was ¥7,712,473,560.23, a decrease of 28.45% compared to ¥10,779,197,063.45 in 2019[19]. - The net profit attributable to shareholders for 2020 was -¥1,159,517,303.66, representing a decline of 2,835.24% from ¥42,391,860.99 in 2019[19]. - The company achieved total revenue of CNY 771,247.36 million in 2020, a decrease of 28.45% compared to the previous year[46]. - The net profit attributable to shareholders was CNY -115,951.73 million, a decline of 2,835.24% year-on-year[46]. - The company reported a significant loss in operating profit of CNY -167,040.93 million, down 883.66% from the previous year[46]. - The company reported a net profit available for distribution to ordinary shareholders of -1,159,517,303.66 in 2020, indicating a loss[116]. Investment and R&D - The company plans to invest RMB 200 million in R&D for new technologies and products in the upcoming year[14]. - The company applied for a total of 98 patents during the reporting period, including 35 invention patents and 63 utility model patents[55]. - The company’s R&D expenses increased by 183.99% to ¥284,922,507.68, primarily due to increased R&D costs from subsidiaries[73]. - The number of R&D personnel increased by 15.41% to 704, with R&D personnel accounting for 24.30% of the total workforce[75]. - The company is actively pursuing research in new energy technologies, including PERC and HJT photovoltaic cell applications[75]. Market Strategy and Expansion - The company has outlined a market expansion strategy targeting Southeast Asia, aiming for a 30% increase in market share by 2022[14]. - The company plans to expand its market presence in Southeast Asia, aiming for a 15% market share by 2023[200]. - The company is exploring partnerships with local firms to enhance distribution channels, aiming for a 25% increase in sales volume[200]. - The company is focusing on expanding its market presence through strategic partnerships and contract acquisitions[157]. Operational Challenges and Risks - The company has identified macroeconomic risks and has developed strategies to mitigate these risks in its future operations[6]. - The company is actively monitoring macroeconomic conditions to mitigate risks associated with fixed asset investment fluctuations in its core business areas[101]. - The company faces risks related to order payment delays due to long production cycles and installment payment contracts, and will implement stricter customer selection and internal controls[111]. - The overall financial performance reflects challenges, with several subsidiaries reporting negative net profits, necessitating a review of operational strategies[96]. Shareholder and Corporate Governance - No cash dividends will be distributed to shareholders for the fiscal year 2020[7]. - The company has not distributed cash dividends for the years 2018, 2019, and 2020, with a total cash dividend amount of 0.00 for 2020[116]. - The company has not proposed any plans for capital reserve conversion into share capital for the reporting period[117]. - The company has established a comprehensive customer file system to assess creditworthiness and implement differentiated marketing strategies[111]. Strategic Partnerships and Collaborations - The company is supported by its major shareholder, Shanghai Electric, which provides financial backing and enhances market competitiveness[42]. - The company intends to strengthen collaboration with Shanghai Electric Group to enhance market competitiveness and create a win-win development scenario[100]. - Shanghai Electric Group promises to maintain fair competition with Tianwo Technology and prioritize project design contracts to Tianwo when conditions are equal[119]. Future Outlook - The management has provided a revenue guidance of RMB 1.5 billion for the year 2021, indicating a growth target of 25%[14]. - Future outlook indicates a projected revenue growth of 20% for 2021, targeting RMB 1.8 billion[200]. - The company plans to improve management and economic operation quality by reducing costs and increasing efficiency, targeting a significant decrease in procurement costs and asset-liability ratio in 2021[98]. Corporate Social Responsibility - The company participated in social responsibility initiatives, including purchasing agricultural products worth 60,000 CNY and donating 12,166 CNY for pandemic prevention efforts[161]. - The company has not engaged in precision poverty alleviation work during the reporting period and has no subsequent plans for such initiatives[162]. - The company and its subsidiaries are not classified as key pollutant discharge units by environmental protection authorities, adhering to relevant environmental laws[163].