KDXC(SZ:002669)2021-03-22 16:00Financial Performance - The company's operating revenue for 2020 was CNY 1,932,135,499.94, representing an increase of 81.24% compared to CNY 1,066,074,423.43 in 2019[16]. - The net profit attributable to shareholders for 2020 was CNY 215,004,813.96, a growth of 53.62% from CNY 139,961,738.71 in 2019[16]. - The net profit after deducting non-recurring gains and losses was CNY 214,424,604.36, which is a 66.80% increase from CNY 128,552,955.71 in 2019[16]. - The basic earnings per share for 2020 was CNY 0.85, up 51.79% from CNY 0.56 in 2019[16]. - The total assets at the end of 2020 were CNY 3,326,558,599.50, reflecting a 30.45% increase from CNY 2,550,118,173.58 at the end of 2019[16]. - The company reported a net cash flow from operating activities of CNY -122,679,809.17, a decline of 164.99% compared to CNY 188,780,124.61 in 2019[16]. - The total operating revenue for 2020 reached ¥1,932,135,499.94, representing an 81.24% increase compared to ¥1,066,074,423.43 in 2019[71]. - The net cash flow from operating activities was -¥122,679,809.17, a decrease of 164.99% compared to the previous year[85]. Dividend Distribution - The company plans to distribute a cash dividend of 2 RMB per 10 shares to all shareholders, based on a total of 250,507,621 shares entitled to profit distribution[4]. - The cash dividend distribution plan was approved on March 20, 2021, and is subject to shareholder meeting approval[156]. - The company distributed a cash dividend of RMB 0.80 per 10 shares for the 2019 fiscal year, amounting to RMB 20,168,633.68, which was 20.58% of the 2019 net profit[153]. - In 2020, the total cash dividend (including other methods) accounted for 29.26% of the total distributable profit[156]. - The company has maintained a consistent cash dividend policy over the past three years, ensuring clarity and compliance with regulations[152]. - The company’s cash dividend distribution plan reflects its commitment to returning value to shareholders while considering future development needs[156]. Business Focus and Strategy - The company has not changed its main business since its listing, maintaining a focus on new materials[15]. - The company plans to continue focusing on the functional polymer new materials and military electronics sectors, enhancing its long-term strategic layout[25]. - The company aims to deepen its market presence in the military electronics field through acquisitions and strategic partnerships[25]. - The company is actively expanding into the military industry, with products aimed at aerospace, naval, and army markets, enhancing its position in the defense sector[31]. - The company is committed to a dual-driven strategy of "new materials + military technology" to optimize its business structure and achieve sustainable growth[130]. - The company plans to integrate its military technology and electronic components to capitalize on the modernization of military equipment[129]. Research and Development - The company emphasizes continuous innovation and has established a national enterprise technology center, focusing on R&D in strategic areas such as new energy and defense[38]. - The company has undertaken nearly 300 new research projects, completing over 200, with 31 product models transitioning from sample development to batch trial production[55]. - The company is focusing on advanced composite materials and plans to deepen its expansion in this field over the next two to three years, leveraging its technological expertise[59]. - The company aims to enhance its R&D capabilities and market channels in the military electronics sector, leveraging its existing assets and technology[130]. Market Position and Growth - The company has established itself as a leading enterprise in the domestic high-end adhesive and polymer new materials sector, with products widely used in various industries[26]. - The adhesive new materials segment generated sales revenue of CNY 1,689.14 million, marking a 94.02% increase year-on-year[51]. - The company focuses on high-end clients in industries such as wind power, food packaging, consumer electronics, and rail transportation, providing customized solutions and rapid response services[41]. - The company is targeting high-value markets such as photovoltaic, consumer electronics, and rail transportation to strengthen its domestic market position[132]. Corporate Governance and Compliance - The company emphasizes the importance of accurate financial reporting and has declared that its financial statements are true, accurate, and complete[3]. - The company has established a comprehensive information disclosure system to enhance investor relations and governance capabilities[63]. - The company has committed to ensuring independence from its controlling shareholders in terms of personnel, assets, finance, and business operations[158]. - The company has implemented measures to avoid dilution of immediate returns from asset restructuring[159]. - The company has ensured compliance with relevant regulations and internal management systems regarding shareholder rights and obligations[158]. Subsidiaries and Acquisitions - The company established several new subsidiaries in 2020, including 康达国际供应链 (Tianjin) Co., Ltd. and 唐山丰南区康达化工新材料有限公司, expanding its operational scope[78][79]. - The company acquired 97% equity of Nanping Tianyu Technology Development Co., Ltd. (renamed Fujian Kangda Xinyu New Materials Co., Ltd.) in July 2020, included in the consolidated financial statements from August 2020[166]. - The company transferred 100% equity of Chengdu Biko Quanxin Electronics Co., Ltd. for RMB 4 million, which is no longer included in the consolidated financial statements from May 2020[166]. Social Responsibility - The company invested RMB 1 million to support frontline medical workers in Wuhan during the COVID-19 pandemic, demonstrating its commitment to social responsibility[64]. - The company maintained a focus on environmental protection and social responsibility throughout its operations[198]. Risks and Challenges - The company acknowledges risks related to macroeconomic fluctuations and market competition, emphasizing the need for strategic planning and market-oriented product development[141][142]. - The company is aware of the volatility in the stock market and advises investors to understand the associated risks before purchasing its shares[147]. - The company is enhancing its internal control and governance structures to minimize the risk of goodwill impairment from acquisitions[146].