凯中精密(002823) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was CNY 1,920,648,565.28, a decrease of 5.09% compared to CNY 2,023,574,349.17 in 2019[15] - The net profit attributable to shareholders for 2020 was CNY 83,687,026.45, an increase of 27.55% from CNY 65,610,772.33 in 2019[15] - The net cash flow from operating activities was CNY 195,474,588.90, down 23.15% from CNY 254,358,227.59 in the previous year[15] - Basic earnings per share for 2020 were CNY 0.29, up 26.09% from CNY 0.23 in 2019[15] - The weighted average return on equity increased to 5.92%, up by 1.02 percentage points from 4.90% in 2019[15] - The net profit after deducting non-recurring gains and losses was CNY -26,583,086.83, a decline of 148.50% compared to CNY 54,813,506.07 in 2019[15] - Total assets increased by 7.01% to CNY 3,439,288,529.87 at the end of 2020 compared to CNY 3,213,899,389.29 at the end of 2019[16] - Net profit attributable to shareholders was negative in Q4 2020, amounting to -CNY 9,602,942.23, while the total operating revenue for the same quarter was CNY 659,247,333.67[20] Revenue Growth - Sales revenue from new energy vehicle components grew by 38.54% year-on-year, while communication and consumer products saw a 45.48% increase[16] - The company achieved a sales revenue of 22,875.20 million yuan in the new energy vehicle components business, representing a year-on-year growth of 38.54%[43] - Sales revenue in the communication and consumer sectors reached 13,688.02 million yuan, with a year-on-year increase of 45.48%[42] - Revenue from automotive communication and precision components accounted for 92.30% of total revenue, totaling approximately ¥1.77 billion, down 7.93% from the previous year[51] - Domestic revenue increased by 17.60% to approximately ¥867.44 million, while international revenue decreased by 18.10% to approximately ¥1.05 billion[51] - The revenue from new energy vehicle components grew by 38.54% to approximately ¥228.75 million, representing 11.91% of total revenue[51] Research and Development - The company has maintained high-intensity R&D investment, with a focus on core technologies such as precision stamping and laser welding[25] - Research and development expenses for 2020 were approximately ¥84.96 million, accounting for 5.29% of total revenue[63] - The company holds a total of 150 patents, including 33 invention patents and 117 utility model patents[64] - R&D personnel decreased by 14.31% from 524 in 2019 to 449 in 2020, while the proportion of R&D personnel increased by 1.88 percentage points to 11.92%[65] - R&D expenditure fell by 14.75% from ¥119,191,337.05 in 2019 to ¥101,610,120.78 in 2020, with the R&D expenditure as a percentage of operating revenue decreasing by 0.60 percentage points to 5.29%[65] Strategic Partnerships and Market Expansion - The company has established long-term strategic partnerships with global clients, including Daimler, Bosch, and Toyota, focusing on precision components for new energy vehicles[25] - The company is expanding its product offerings in the new energy vehicle sector, including battery pack components and electric motor connectors[26] - The company has established strategic partnerships with major global clients, including Daimler, Bosch, and Denso, securing numerous projects and products in the new energy vehicle sector[43] - The company has expanded its market presence in Japan, establishing a strategic partnership with Toyota Tsusho for deeper collaboration in the new energy vehicle sector[44] - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[126] Investment and Financial Management - The company reported an investment income of 8,161.95 million yuan from the sale of subsidiary equity[43] - The company recorded a goodwill impairment provision of 62.75 million yuan for its German subsidiary, leaving a remaining goodwill of 12.73 million yuan[41] - The company raised funds of 31.96 million CNY through the issuance of convertible bonds, with 176 million CNY temporarily supplementing working capital[80] - The total committed investment for the high-end motor commutator industrialization project was 270.84 million CNY, with a cumulative investment of 271.76 million CNY, achieving an investment progress of 100.34%[82] - The company reported an investment income of ¥94,598,257.32, which accounted for 96.58% of total profit, primarily from the sale of Huizhou Fenghua equity[69] Dividend Policy - The company plans to distribute a cash dividend of CNY 1.04 per 10 shares, totaling CNY 30,000,000, based on a total share capital of 287,084,670 shares[4] - The cash dividend distribution policy ensures that at least 20% of the distributable profit is allocated to shareholders annually[115] - The company's net profit for 2020 was 83,687,026.45 yuan, with the cash dividend representing 35.85% of this amount[120] - The cash dividend for 2018 was 2.57 yuan per 10 shares, totaling 75,000,000 yuan, which was 66.11% of the net profit[117] - The cash dividend distribution for 2020 is fully compliant with the company's articles of association and shareholder resolutions[116] Corporate Governance and Compliance - The company has committed to not engaging in any activities that compete with its existing and future business operations, ensuring no conflicts of interest arise[124] - The company will announce any share reductions three trading days in advance, ensuring transparency in its shareholding structure[124] - The management team has pledged to maintain control of the company and will only reduce their holdings under specific financial arrangements[124] - The company has established a limit on the annual reduction of shares by partners who are directors or senior management, capped at 25% of their indirect holdings[124] - The company will ensure that all related transactions are conducted in compliance with its articles of association and relevant regulations[125] Environmental and Social Responsibility - The company is committed to advancing green manufacturing initiatives, including energy-saving improvements and environmental enhancements[102] - The company has implemented the ISO14001 environmental management system[160] - The company has made significant investments in environmental protection and clean production initiatives[160] - The company has conducted environmental impact assessments for all implemented projects and has obtained the necessary environmental permits[164] - The company has committed to continuous investment in environmental protection and has implemented measures for clean production and energy conservation[163]