AOTO ELECTRONICS(SZ:002587)2021-04-26 16:00Financial Performance - The company's operating revenue for 2020 was ¥819,531,945.33, a decrease of 34.18% compared to ¥1,245,130,420.49 in 2019[19]. - The net profit attributable to shareholders was -¥153,050,167.27 in 2020, representing a decline of 183.99% from ¥182,226,754.27 in 2019[19]. - The net profit after deducting non-recurring gains and losses was -¥179,643,378.18, a decrease of 207.20% compared to ¥167,575,174.58 in 2019[19]. - The net cash flow from operating activities was ¥63,803,953.87, down 65.30% from ¥183,856,766.39 in 2019[19]. - The total assets at the end of 2020 were ¥2,249,549,146.41, a decrease of 5.98% from ¥2,392,661,653.37 at the end of 2019[19]. - The company's weighted average return on equity was -12.08% in 2020, down 25.96% from 13.88% in 2019[19]. - Total revenue for 2020 was approximately ¥819.53 million, a decrease of 34.18% compared to ¥1.25 billion in 2019[71]. - The net profit attributable to shareholders was a loss of CNY 153.05 million, a decline of 183.99% compared to the previous year[49]. - The company's overseas market revenue decreased by 42.65%, with foreign exchange losses amounting to CNY 18.12 million, an increase of 939.09% year-on-year[49]. - The company reported an operating profit of -165.09 million yuan, down 179.73% year-on-year[135]. Dividend and Shareholder Returns - The company reported a cash dividend of RMB 0.20 per 10 shares (including tax) based on a total share capital of 647,003,106 shares after excluding repurchased shares[5]. - The company plans to distribute a cash dividend of 0.20 RMB per share, totaling approximately 12.94 million RMB, continuing its commitment to shareholder returns[68]. - The total distributable profit for 2020 was 249,083,471.88 CNY, after accounting for a 10% statutory reserve of 4,696,340.16 CNY[145]. - The company did not propose any stock dividends or capital reserve transfers for the 2020 profit distribution[145]. Business Expansion and Strategy - The company has expanded its main business to include electronic large screen display engineering design and installation, energy-saving investment and renovation, and artificial intelligence product development[17]. - The company aims to be a leading provider of intelligent video solutions across various industries, including film, transportation, and education[28]. - The company has a market share of approximately 70% in large international airports for its solutions in the transportation sector[30]. - The demand for intelligent solutions in the education sector is expected to continue growing due to the normalization of remote teaching and meetings[30]. - The company has established 63 domestic and 7 overseas service outlets, supported by a team of over 200 service engineers[40]. - The company plans to focus on strategic development planning with a customer-oriented approach in 2021[114]. - The company aims to enhance its "hardware + software + content" solution capabilities by attracting top talent and increasing R&D investment in 2021[114]. - The company is focusing on expanding its presence in new sectors such as film production, education, and government services[135]. Research and Development - The company holds 203 software copyrights and has a patent portfolio that includes 95 invention patents and 323 utility model patents in the smart video sector[42]. - The number of R&D personnel decreased by 10.81% to 330 in 2020 from 370 in 2019[89]. - R&D expenses decreased by 5.43% to ¥81.06 million in 2020, accounting for 9.89% of operating revenue[90]. - The company plans to enhance its R&D efforts in intelligent video solutions and XR film shooting technologies to improve project delivery capabilities[130]. Market Outlook and Growth Potential - The virtual reality market in China is projected to reach RMB 54.45 billion by 2021, indicating strong growth potential in the film shooting industry[115]. - The LED market for airports is expected to reach RMB 500 million, while the high-speed rail station LED market is projected to reach RMB 2 billion by 2021[116]. - The company anticipates a market space of RMB 290 billion for large conference rooms with a 10% penetration rate, highlighting growth opportunities in the education sector[118]. - The company provided a future outlook with a revenue guidance of 1.8 billion RMB for 2021, indicating a growth target of 20%[152]. Financial Management and Governance - The company has committed to ensuring that related transactions with Aolunde Technology Co., Ltd. do not exceed 50% of its annual LED device transaction amount[161]. - The company has established an environmental management system and obtained ISO14001 certification, emphasizing its commitment to sustainable development[191]. - The company is actively enhancing its corporate governance to protect the rights of shareholders and creditors, in compliance with relevant laws[190]. - The company has a strategy to accelerate the collection of outstanding accounts receivable, with 6,236,341.15 CNY paid by a former shareholder for part of the receivables in 2020[194]. Shareholding Structure - The total number of shares decreased from 620,037,084 to 616,272,084, a reduction of 3,765,000 shares, representing 0.61% of total shares[198]. - The proportion of limited sale condition shares decreased from 31.56% to 29.75%, with a reduction of 12,299,000 shares[198]. - The number of unrestricted shares increased from 424,379,800 to 432,913,800, an increase of 8,534,000 shares, representing 70.25% of total shares[198]. - The company implemented the unlocking of shares related to the 2016 major asset restructuring and the 2016 and 2018 restricted stock incentive plans[200].