Homa(002668)2021-04-29 16:00Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2020, representing a year-on-year increase of 15%[18]. - The net profit attributable to shareholders was RMB 150 million, an increase of 20% compared to the previous year[18]. - The company's operating revenue for 2020 was ¥8,345,133,628.27, representing a 12.89% increase from ¥7,392,507,540.78 in 2019[6]. - The net profit attributable to shareholders for 2020 was -¥539,737,154.04, a significant decline of 1,112.86% compared to ¥53,288,549.27 in 2019[6]. - The net cash flow from operating activities increased by 100.43% to ¥2,377,691,833.40 from ¥1,186,286,220.04 in the previous year[6]. - The basic and diluted earnings per share for 2020 were both -¥0.50, a decrease of 1,100.00% from ¥0.05 in 2019[6]. - The total assets at the end of 2020 were ¥9,213,480,693.30, reflecting a 5.00% increase from ¥8,775,065,376.57 at the end of 2019[6]. - The net assets attributable to shareholders decreased by 14.53% to ¥2,182,408,396.27 from ¥2,553,288,016.46 at the end of 2019[6]. - The company anticipates a revenue growth of 10% to 15% for the upcoming fiscal year, driven by new product lines and market expansion[18]. Market Strategy and Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[18]. - New product launches are expected to contribute an additional RMB 300 million in revenue in 2021, focusing on smart home appliances[18]. - The company aims to enhance its market share in mid-to-high-end products and optimize product structure, focusing on sustainable growth[94]. - The company plans to accelerate its digital transformation across various business modules, including R&D, production, and management[94]. Research and Development - The company has invested RMB 50 million in R&D for new technologies, aiming to enhance product efficiency and sustainability[18]. - Research and development expenses increased by 20.83% to CNY 303,555,032.77, representing 3.64% of operating revenue[69]. - The number of R&D personnel decreased by 5.68% to 648, while the proportion of R&D personnel in total staff was 6.46%[69]. - The company held 400 authorized patents as of December 31, 2020, including 29 invention patents[46]. Shareholder and Dividend Information - No cash dividends will be distributed to shareholders for the year 2020, as the company aims to reinvest profits into growth initiatives[6]. - The company has not distributed any cash dividends over the past three years, with the total available profit for distribution remaining negative at -824,794,929.60 RMB by the end of 2020[105]. - The cash dividend policy is compliant with the company's articles of association and shareholder resolutions, ensuring that minority shareholders can express their opinions[103]. - The company plans not to distribute cash dividends, issue bonus shares, or increase capital reserves for the current year[109]. Operational Efficiency and Cost Management - The company reported a significant reduction in sales expenses by 25.40% to CNY 349,228,660.47[68]. - Operating cash inflows totaled CNY 9.48 billion, an increase of 6.86% compared to CNY 8.87 billion in 2019[73]. - Cash and cash equivalents increased by CNY 1.13 billion, representing a growth of 106.51% compared to CNY 549.62 million in 2019[73]. - The company's operating costs in the home appliance sector amounted to CNY 6,395,855,601.59, accounting for 98.94% of total operating costs, with a year-on-year increase of 18.44%[58]. Environmental Compliance - The company is classified as a key pollutant discharge unit, with specific emissions of organic waste gases, including benzene and formaldehyde, adhering to the required discharge standards[160]. - The company has established a wastewater treatment station that meets the Guangdong Province's discharge standards, with a chemical oxygen demand (COD) of 48 mg/L and total nitrogen of 2.33 mg/L after treatment[167]. - The company’s air pollution control system has achieved compliance with the emission limits, with sulfur dioxide emissions recorded at 0.0021 tons and nitrogen oxides at 0.0306 tons[167]. - The company has implemented an environmental emergency response plan, which has been filed with local environmental protection authorities and includes regular emergency drills[166]. Corporate Governance and Compliance - The company is committed to improving its governance structure and internal controls to enhance operational efficiency[94]. - The independent directors have fulfilled their responsibilities in the profit distribution policy formulation process[103]. - The company has committed to maintaining its independence and compliance with regulations, ensuring transparency in its operations[113]. - The current auditor, Zhongqin Wanxin Accounting Firm, has been engaged for three consecutive years, with an audit fee of RMB 1.802 million[127]. Subsidiary and Asset Management - The company disposed of its subsidiary "Ningxia Wallet Jinfu Microfinance Co., Ltd." during the reporting period[63]. - The company reported a transfer of 49% equity in its wholly-owned subsidiary, Guangdong Aoma Refrigerator Co., Ltd., for a consideration of CNY 1,127 million, maintaining a 51% controlling stake post-transaction[171]. - The company plans to transfer 74.9185% equity of Ningxia Wallet Jinfu Microfinance Co., Ltd. to Shenzhen Dapai Financial Technology Co., Ltd. for a price of 9.5 million yuan, after which it will no longer hold any equity in Ningxia Wallet Jinfu[176]. - The company has decided to terminate its financial technology business segment and dispose of related assets due to significant changes in the macroeconomic environment and financial policies, aiming to focus on its core refrigerator manufacturing business[177].