共达电声(002655) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was CNY 1,180,095,857.95, representing a 19.89% increase compared to CNY 984,325,864.30 in 2019[17] - The net profit attributable to shareholders for 2020 was CNY 45,935,814.22, a 49.05% increase from CNY 30,818,475.17 in 2019[17] - The net cash flow from operating activities reached CNY 184,936,880.67, marking a significant increase of 129.00% compared to CNY 80,759,594.99 in the previous year[17] - The basic earnings per share for 2020 was CNY 0.13, up 44.44% from CNY 0.09 in 2019[17] - The net profit after deducting non-recurring gains and losses for 2020 was CNY 45,868,018.09, a 44.56% increase from CNY 31,729,822.63 in 2019[17] - For the full year 2020, the company achieved total revenue of ¥1,180,095,857.95, representing a year-on-year growth of 19.89%[27] - The net profit attributable to the parent company for 2020 was ¥45,935,814.22, reflecting a 49.05% increase compared to the previous year[27] Assets and Liabilities - The total assets at the end of 2020 were CNY 1,077,122,987.14, a decrease of 9.28% from CNY 1,187,322,843.62 at the end of 2019[17] - The net assets attributable to shareholders at the end of 2020 were CNY 521,355,591.60, a slight increase of 0.20% from CNY 520,333,739.75 at the end of 2019[17] - Total assets decreased by 9.28% year-on-year to ¥1,077,122,987.14, primarily due to reductions in inventory and receivables[41] - As of the end of 2020, cash and cash equivalents amounted to ¥61,383,789.63, representing 5.70% of total assets, a decrease of 1.35% from the beginning of the year[64] - Accounts receivable stood at ¥303,326,439.20, accounting for 28.16% of total assets, an increase of 2.00% compared to the beginning of the year[64] - Inventory decreased to ¥181,919,866.90, making up 16.89% of total assets, down by 1.07% from the start of the year[64] - Fixed assets increased to ¥376,895,252.60, representing 34.99% of total assets, an increase of 4.37% from the beginning of the year[64] - Short-term borrowings decreased to ¥146,504,933.90, accounting for 13.60% of total assets, down by 5.14% compared to the start of the year[64] Dividends and Share Repurchase - The company plans not to distribute cash dividends or issue bonus shares for the year[5] - The company repurchased 5,955,600 shares for a total amount of ¥49,999,400.83, which is considered as cash dividends for the year 2020[91] - The cash dividend distribution for 2020 was 0.00%, while the total cash dividends (including repurchased shares) amounted to ¥49,999,400.83, representing 108.85% of the net profit attributable to ordinary shareholders[92] - The company did not propose any cash dividend distribution plan for the reporting period despite having positive distributable profits[93] Research and Development - The company has filed for 72 new patents, bringing the total authorized patents to 392, enhancing its innovation capabilities[31] - The company focuses on R&D and market expansion, aiming to enhance its position as a leading provider of acoustic solutions[27] - Research and development expenses were ¥58,097,614.66, accounting for 4.92% of total revenue, down from 6.70% the previous year[55] - The company aims to improve product R&D capabilities by integrating domestic and international research resources and fostering innovation talent[75] Risks and Challenges - The company has identified market, operational, and management risks that investors should be aware of[4] - The company faces market risks due to reliance on consumer electronics, which may be affected by global economic uncertainties[78] - The company is exposed to risks related to customer concentration, as major clients are well-known global manufacturers, which could impact order stability if quality or delivery standards are not met[81] Corporate Governance - The company has maintained its accounting firm, which has provided audit services for 11 years[100] - The company has a structured remuneration decision-making process involving the remuneration and assessment committee[166] - The governance structure of the company aligns with the regulatory requirements set by the China Securities Regulatory Commission, with no significant discrepancies noted[181] - The company maintains independence from its controlling shareholder in business, personnel, assets, and financial aspects, ensuring no interference in decision-making[182] Employee and Management - The total number of employees in the company is 2,622, with 1,955 in production, 471 in technical roles, and 46 in sales[169] - The company has a total of 26 employees with a master's degree and 403 with a bachelor's degree, indicating a diverse educational background among staff[171] - The company has implemented an annual training plan to enhance employee skills across various areas, including technical and management skills[171] - The company experienced personnel changes, with several executives leaving for personal reasons, including Wang Yonggang and Zhang Zhixue[148] Audit and Internal Control - The audit opinion issued by the accounting firm was a standard unqualified opinion, confirming the fair presentation of the financial statements[199] - The company did not report any significant deficiencies in its internal control system[195] - The internal control verification report was disclosed on March 24, 2021, confirming compliance with internal control standards[195] Future Outlook - The company plans to deepen product structure adjustments and enhance marketing channels in 2021, focusing on large clients and providing comprehensive acoustic solutions[72] - Future strategies may include further market expansion and product innovation, leveraging the expertise of its management team[152] - The company plans to invest in a new MEMS production capacity project, aiming to increase output by 10 million units per month[190]