Suntak(SZ:002815)2021-04-12 16:00Financial Performance - The company's operating revenue for 2020 was ¥4,367,714,599.51, an increase of 17.18% compared to ¥3,727,450,770.41 in 2019[21]. - The net profit attributable to shareholders for 2020 was ¥440,619,182.23, a decrease of 16.24% from ¥526,048,757.38 in 2019[21]. - The net profit after deducting non-recurring gains and losses was ¥392,483,769.75, down 21.09% from ¥497,366,341.58 in 2019[21]. - The net cash flow from operating activities was ¥526,466,567.60, a decline of 33.14% compared to ¥787,453,828.98 in 2019[21]. - The total assets at the end of 2020 were ¥7,683,984,221.64, representing a 42.88% increase from ¥5,377,956,227.73 at the end of 2019[21]. - The net assets attributable to shareholders at the end of 2020 were ¥4,196,722,795.60, an increase of 8.55% from ¥3,866,155,443.24 at the end of 2019[21]. - The company's internal sales revenue grew by 58.17% in 2020, with the internal sales market share increasing by 9.51 percentage points[32]. - The company reported a total of ¥49,970,463.02 in government subsidies for 2020, compared to ¥27,625,790.87 in 2019[26]. - The gross profit margin for printed circuit boards was 23.49%, a decrease of 4.06% from the previous year[73]. - In 2020, the company achieved operating revenue of 4.368 billion RMB, a year-on-year increase of 17.18%, while net profit attributable to shareholders was 441 million RMB, a decrease of 16.24% due to various factors including the impact of COVID-19 on associated companies[52]. Research and Development - The company has a strong focus on research and development, particularly in the fields of PCB and FPC technologies, to drive innovation[12]. - R&D expenses increased by 22.12% in 2020, with a focus on 5G-related products, enhancing the company's overall R&D capabilities[58]. - Research and development investment increased by 22.12% to ¥265,928,655.07 in 2020, with R&D personnel rising by 29.64% to 761[86]. - The proportion of R&D investment to operating revenue rose to 6.09% in 2020 from 5.84% in 2019[86]. - The company holds 264 patents, including 198 invention patents, positioning it as a leader in the industry[49]. - The company has applied for a total of 1,248 patents, indicating a strong commitment to innovation[57]. Market Position and Strategy - The global PCB market size reached $652.2 billion in 2020, with a year-on-year growth of 6.4%[36]. - The PCB market in mainland China is projected to reach $461.2 billion by 2025, with a compound annual growth rate (CAGR) of 5.6% from 2020 to 2025[38]. - The demand for packaging substrates and HDI boards is expected to grow at CAGRs of 9.7% and 6.7%, respectively, from 2020 to 2025[42]. - The company has established a strong competitive position in the PCB market, consistently ranking among the top PCB companies in China and globally[43]. - The company has expanded its product line by acquiring stakes in other firms, enhancing its capabilities in IC substrates and FPC[47]. - The company has diversified its customer base across various industries, effectively mitigating operational risks[48]. Operational Efficiency - The company adopted a flexible production model to respond quickly to diverse customer demands[34]. - The company has implemented an advanced ERP system and flexible production lines, leading to high production efficiency[46]. - The company produced and sold 3.678 million square meters of PCBs in 2020, with a year-on-year sales increase of 24.90% and a production and sales rate of 96.89%[59]. - The company has established a sales department divided into eight industry groups to better manage customer relationships and orders[32]. Cash Flow and Financing - The company reported a net cash flow from operating activities of ¥526,466,567.60 in 2020, a decrease of 33.14% compared to ¥787,453,828.98 in 2019[87]. - Total cash inflow from financing activities surged by 320.36% to ¥1,688,505,783.54 in 2020, compared to ¥401,683,580.50 in 2019[87]. - The company achieved a total operating cash inflow of ¥4,012,240,099.30, reflecting a growth of 13.27% from ¥3,542,284,288.85 in the previous year[87]. - The net increase in cash and cash equivalents was ¥224,642,428.30, a significant improvement of 173.53% from a decrease of ¥305,504,322.94 in 2019[87]. - The company issued convertible bonds, resulting in cash inflow of ¥1,386,000,000.00, marking a 100% increase in financing activities[89]. Environmental Compliance - Total nickel emissions were reported at 17.47 kg, with a concentration of 0.028 mg/L, complying with the discharge standards[184]. - Total nitrogen emissions reached 14,529.34 kg, with a concentration of 23.9 mg/L, indicating adherence to environmental regulations[188]. - Total phosphorus emissions were recorded at 407.17 kg, with a concentration of 0.76 mg/L, meeting the required discharge limits[188]. - The company has established a wastewater treatment plant in Shenzhen with a design capacity of 3,000 m³/d, which integrates various wastewater pre-treatment processes before discharging into the municipal pipeline[190]. - The company has implemented an online monitoring system for wastewater discharge, including parameters such as pH and chemical oxygen demand, which is connected to national monitoring platforms[190]. Corporate Governance - The company has engaged Tianjian Accounting Firm for auditing, ensuring compliance and transparency in financial reporting[20]. - The company has established a strategic partnership with CITIC Securities for continuous supervision, indicating a commitment to governance and investor relations[20]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[153]. - The company has not experienced any penalties or rectification issues during the reporting period[154]. Dividend Distribution - The company plans to distribute a cash dividend of 2.50 RMB per share for the 2020 fiscal year, with a total cash dividend amount exceeding 1.15 billion RMB over five years[69]. - The total distributable profit amounts to 272,461,989.67 RMB[137]. - The profit distribution proposal is subject to approval at the 2020 annual general meeting, indicating uncertainty[137]. - The company plans to distribute a cash dividend of RMB 3 per 10 shares for the 2019 fiscal year, totaling RMB 265,208,021.40, which represents 50.42% of the net profit attributable to ordinary shareholders[133][136].