Hytera(002583)2021-05-13 16:00Financial Performance - The company's operating revenue for 2020 was ¥6,109,220,863.51, a decrease of 22.11% compared to ¥7,843,538,994.25 in 2019[20] - The net profit attributable to shareholders for 2020 was ¥95,298,538.11, an increase of 17.93% from ¥80,806,465.68 in 2019[20] - The net cash flow from operating activities was ¥687,866,454.99, down 36.23% from ¥1,078,750,947.77 in 2019[20] - The basic earnings per share for 2020 was ¥0.05, a 25.00% increase from ¥0.04 in 2019[20] - Total assets at the end of 2020 were ¥14,270,276,459.95, a decrease of 13.42% from ¥16,482,167,285.54 at the end of 2019[20] - The net assets attributable to shareholders at the end of 2020 were ¥6,259,047,378.71, an increase of 1.97% from ¥6,138,306,543.53 at the end of 2019[20] - The company's revenue after deducting non-operating income was ¥6,044,182,544.79, compared to ¥7,803,592,133.72 in 2019[23] - The company reported a significant increase in net profit after excluding non-recurring gains and losses, with a net loss of ¥177,585,091.35 in 2020 compared to a loss of ¥49,784,469.60 in 2019[20] - The weighted average return on net assets for 2020 was 1.54%, up from 1.32% in 2019[20] Revenue Breakdown - The company's total revenue for Q1 2020 was ¥1,532,551,732.59, which decreased to ¥1,321,299,419.86 in Q3 2020, showing a decline of approximately 13.9%[26] - The net profit attributable to shareholders for Q2 2020 was only ¥5,348,672.35, while Q3 and Q4 reported net losses of ¥53,197,987.41 and ¥113,943,588.68 respectively[26] - The total operating revenue for the year 2020 was approximately ¥6.11 billion, a decrease of 22.11% compared to ¥7.84 billion in 2019[109] - Revenue from professional wireless communication equipment was approximately ¥4.51 billion, accounting for 73.85% of total revenue, with a year-on-year decline of 8.13%[109] - Domestic sales amounted to approximately ¥2.43 billion, representing 39.70% of total revenue, down 32.25% from the previous year[109] - Overseas sales were approximately ¥3.68 billion, making up 60.30% of total revenue, with a decline of 13.60% year-on-year[109] Investment and R&D - R&D investment accounted for 16.40% of sales revenue, with multiple international R&D centers established in various countries[89] - The company applied for a total of 2,663 patents, with 1,184 patents granted as of December 31, 2020, including 469 PCT patents and 334 overseas applications[90] - Research and development expenses increased by 9.13% to 930,227,289.20, compared to 852,377,751.60 in the previous year[148] - The proportion of R&D investment to operating income increased to 16.40% from 13.82%[150] - The number of R&D personnel decreased by 13.04% to 2,847 from 3,274[150] Cash Flow and Financing - The operating cash flow has been positive for three consecutive years, indicating improved operational efficiency[109] - Net cash flow from investment activities for 2020 was ¥1,438.78 million, an increase of 288.86% year-on-year[159] - Financing cash inflow decreased by ¥139.37 million (-2.36%) during the reporting period[160] - Financing cash outflow increased by ¥2,109.01 million (35.37%) mainly due to increased repayment of loans and bonds[162] - Net cash flow from financing activities for 2020 was -¥2,303.02 million, a decrease of 4115.22% year-on-year[163] - Net increase in cash and cash equivalents decreased by ¥453.26 million (-166.80%) due to a reduction in net cash flow from operating activities[164] Market and Product Development - The company is focusing on the development of 5G technology and has launched a vertical industry solution based on industrial internet, including lightweight core networks and small base stations[45] - The new generation of digital trunking products was fully launched in the domestic market, featuring significant technological innovations compared to previous models[40] - The company aims to enhance its comprehensive solution capabilities in areas such as public safety, emergency response, and IoT, aligning with the trends of digital transformation and new infrastructure[37] - The company has successfully entered the operator market with high-performance 4G board card solutions, demonstrating its competitive edge in the broadband private network technology[43] - The company has launched multiple series of public-private integration products and solutions, including Hytalk, Hytalk Pro, and Hytalk MC, to meet industry-specific user demands, ensuring high-quality multimedia communication while achieving interoperability with existing narrowband digital voice systems[47] Contracts and Projects - The company signed a significant contract for a project in the Netherlands valued at approximately €90 million (around ¥616 million), which has been fully delivered and is now in the maintenance phase[115] - The company secured a procurement framework project with China Mobile for PoC terminals, with an estimated value of approximately RMB 288 million, and has recognized revenue of RMB 3.23 million to date[124] - The company’s subsidiary signed a contract for a TETRA communication system project in North America, valued at approximately RMB 55 million, with recognized revenue of RMB 19.24 million so far[124] - A contract for TETRA terminal procurement in Brazil was signed, amounting to €6.17 million (approximately RMB 47.05 million), currently in the delivery phase with no revenue recognized yet[125] - The company completed a project for the Peruvian police to expand their TETRA system, with a contract value of approximately RMB 44.79 million, recognizing revenue of RMB 18.7 million to date[126] Asset Management - Fixed assets decreased by 12,068.15 million yuan (-8.98%) due to the disposal of certain EMS-related fixed assets[81] - Intangible assets decreased by 150,413.57 million yuan (-42.69%) primarily due to the disposal of the land for the headquarters building[81] - Long-term receivables increased by 16,546.58 million yuan (37.33%) due to the addition of long-term receivables from new overseas projects[81] - Accounts receivable decreased by 83,221.44 million yuan (-17.32%) as a result of decreased operating income and improved cash flow management[81] Global Expansion - The company has established over 100 branches globally, covering more than 120 countries and regions, enhancing its marketing network[88] - The company is actively expanding its digital marketing efforts to enhance customer experience and operational efficiency[88] - The company focused on digital marketing and expanded its global business, achieving growth in Europe despite the pandemic[103]