BOSHI(SZ:002698)2021-04-21 16:00Financial Performance - In 2020, the company's revenue reached 1.828 billion CNY, which is 2.91 times the revenue in 2016, and the net profit attributable to shareholders was 405 million CNY, 3.69 times that of 2016[14]. - The compound annual growth rates for revenue and net profit over the past three years were 32.37% and 46.27%, respectively[14]. - The company's operating revenue for 2020 was ¥1,827,912,892.55, representing a 25.22% increase compared to ¥1,459,741,076.77 in 2019[38]. - The net profit attributable to shareholders for 2020 was ¥405,370,652.33, a 32.00% increase from ¥307,106,182.72 in 2019[38]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥375,832,168.49, up 34.63% from ¥279,151,858.98 in 2019[38]. - The company's total assets at the end of 2020 were ¥4,576,810,168.61, a 13.26% increase from ¥4,041,154,116.28 at the end of 2019[38]. - The weighted average return on equity for 2020 was 16.83%, an increase of 2.66% from 14.17% in 2019[38]. - The basic earnings per share for 2020 was ¥0.3964, a 32.00% increase from ¥0.3003 in 2019[38]. - The company achieved a net profit of 200 million RMB in 2020, which is a 10% increase compared to the previous year[26]. - The company aims for a net profit growth target of 10% to 40% for 2021 compared to 2020, with 2020 net profit at 405 million yuan[198]. Dividend and Investment Plans - The company plans to distribute a cash dividend of 2.00 CNY per 10 shares (including tax) based on a total of 1,022,550,000 shares[5]. - The company plans to invest 300 million RMB in R&D for new product development and technological advancements in 2021[26]. - The total investment amount for the reporting period was CNY 344.09 million, representing a 14.54% increase compared to CNY 300.41 million in the same period last year[153]. - The total amount of raised funds is CNY 49,191.58 million, with CNY 5,255.21 million utilized in the current period and a cumulative total of CNY 54,528.59 million used[157]. Market and Competitive Position - The company emphasizes the importance of integrating 5G and AI technologies into its smart manufacturing solutions to maintain competitive advantages[9]. - The company acknowledges the risk of not being able to sustain its growth trajectory due to increased operational scale and market competition[14]. - The company is actively working on integrating social resources to accelerate technological innovation and maintain its competitive position[12]. - The company is focusing on market expansion in Southeast Asia, targeting a 15% market share by the end of 2022[26]. - Harbin Boshi Automation is exploring potential mergers and acquisitions to enhance its product offerings and market presence[26]. - The company has established strategic partnerships with key players in the industry to enhance its competitive edge and market reach[26]. Technological Development and Innovation - The company is committed to expanding its capabilities in providing comprehensive smart factory solutions[9]. - The company is engaged in smart manufacturing equipment, industrial services, and environmental protection processes and equipment, focusing on high-efficiency automated solutions[52]. - The company is actively engaged in R&D for smart warehousing systems, utilizing 5G technology and IoT to enhance operational efficiency[88]. - The company has developed a new high-speed resin packaging machine, which is currently undergoing testing at user sites[94]. - The company is promoting a new high-speed stretching film machine to meet energy-saving and environmental requirements in the packaging sector[94]. - The company is developing projects for the treatment and recycling of industrial waste sulfuric acid and acidic gases, contributing to energy conservation and environmental protection[197]. Risks and Challenges - The company faces risks related to the demand for smart equipment not meeting expectations in the post-pandemic period, which could impact future performance[13]. - The company is facing uncertainties in achieving its profit targets due to macroeconomic conditions and industry market changes[198]. - The company has experienced a significant decline in overseas revenue, which dropped by 72.63% to ¥18.49 million[121]. Customer and Market Dynamics - User data indicated that the company expanded its customer base by 25%, reaching over 1,000 active clients in various industries[26]. - The company maintained a stable and healthy customer network, driven by high-quality customer resources and strong demand for intelligent manufacturing equipment[106]. - The total sales amount from the top five customers reached ¥950,991,605.10, accounting for 52.03% of the annual total sales[135]. Operational Efficiency and Cost Management - The company aims to reduce production costs by 10% through improved operational efficiencies and automation technologies[26]. - The cost of raw materials for solid material post-processing intelligent manufacturing equipment increased by 55.29% year-on-year, totaling ¥329,222,168.26[131]. - The sales expenses decreased by 36.48% to ¥79,960,345.06 compared to the previous year[139]. Future Outlook - Future outlook includes a projected revenue growth of 20% for 2021, driven by increased demand for automation solutions[26]. - The company aims to enhance its role in the manufacturing service industry by 2025, aiming for significant improvements in quality, innovation, and resource allocation efficiency[196]. - The company expects operating cash flow to return to normal levels in 2021[144].