NAR(SZ:002825)2021-03-22 16:00Financial Performance - The company's operating revenue for 2020 was CNY 1,253,716,067.94, representing a 23.25% increase compared to CNY 1,017,191,015.08 in 2019[18]. - The net profit attributable to shareholders for 2020 was CNY 95,798,652.41, a significant increase of 125.83% from CNY 42,420,474.89 in 2019[18]. - The net profit after deducting non-recurring gains and losses was CNY 89,695,462.91, up 151.23% from CNY 35,702,918.63 in the previous year[18]. - The net cash flow from operating activities increased by 54.66% to CNY 124,686,351.62, compared to CNY 80,621,380.65 in 2019[18]. - Basic earnings per share rose to CNY 0.650, reflecting a 116.67% increase from CNY 0.300 in 2019[18]. - Total assets at the end of 2020 were CNY 1,221,281,870.27, a 12.85% increase from CNY 1,082,228,876.93 at the end of 2019[18]. - The net assets attributable to shareholders increased by 9.91% to CNY 787,999,125.24 from CNY 716,962,326.44 in 2019[18]. - The weighted average return on equity for 2020 was 12.76%, up from 6.55% in 2019, indicating improved profitability[18]. Revenue Growth - The company reported a quarterly revenue of CNY 395,631,648.19 in Q4 2020, contributing to a total annual revenue growth[22]. - In 2020, the company achieved a revenue of 1.254 billion yuan, representing a year-on-year increase of 23.25%[42]. - The digital printing ink segment saw significant growth, with revenue increasing by 182.16% to ¥271,762,264.54, up from ¥96,316,341.02 in 2019[54]. - Domestic sales accounted for 67.53% of total revenue, amounting to ¥846,603,159.60, which is a 40.74% increase from ¥601,525,977.26 in 2019[52]. - The automotive functional film product line experienced a remarkable growth of 221.00%, with revenue rising to ¥95,431,256.30 from ¥29,729,474.66 in the previous year[52]. Research and Development - The company has established a strong R&D capability, with a focus on coating technology, laminating technology, and punching technology, enhancing product quality and market application value[31]. - The R&D team achieved significant breakthroughs in digital ink and eco-friendly inks, leading to substantial increases in sales and profitability[45]. - The company has received 6 patents during the reporting period, with 34 patent applications currently under review, including 30 invention patent applications[32]. - Research and development expenses totaled ¥59,648,287.07, representing 4.76% of total revenue, an increase of 17.51% from ¥50,759,188.47 in 2019[61]. Market Expansion - The company has expanded its market presence, covering over 20 provinces and municipalities in China and reaching customers in dozens of countries globally[33]. - The company aims to expand its market share in digital printing materials, targeting high-speed growth in outdoor advertising and personalized fabric printing, driven by increasing consumer demand[88]. - The company is pursuing external partnerships and collaborations to enhance its competitive capabilities and market share in the automotive protective film sector[90]. Dividend Policy - The company plans to distribute a cash dividend of CNY 4 per 10 shares, based on a total of 171,221,847 shares[5]. - The profit distribution policy prioritizes cash dividends, with a minimum of 20% of distributable profits to be distributed as cash dividends annually, provided certain conditions are met[102]. - The cash dividends distributed in 2020 represented 71.49% of the net profit attributable to shareholders, which was 95,798,652.41 RMB[108]. - The total cash dividend for 2020, including other forms, was 68,488,738.80 RMB, accounting for 100% of the total profit distribution[108]. - The company has maintained a consistent increase in cash dividends over the past three years, reflecting a commitment to shareholder returns[107]. Corporate Governance - The company has established a comprehensive corporate governance structure to protect shareholder rights and ensure transparency in operations[155]. - The company emphasizes strict compliance with national laws and regulations, aiming to enhance corporate governance and management systems[96]. - The company has committed to not engaging in any business activities that compete with its existing operations or products, ensuring no conflicts of interest arise[110]. Shareholder Relations - The company will actively communicate with shareholders, especially minority shareholders, regarding dividend proposals and decisions[105]. - The company has ensured that minority shareholders have had ample opportunity to express their opinions and that their rights are protected[107]. - The company will notify the market three trading days in advance of any planned share reductions by major shareholders[110]. Financial Management - The company reported a total cash inflow from operating activities of ¥1,419,854,069.24, which is a 27.76% increase from ¥1,111,326,912.47 in 2019[63]. - The net cash flow from investment activities decreased significantly by 1,009.59% to -CNY 115,759,593.53, primarily due to higher purchases of bank wealth management products[64]. - The company’s cash and cash equivalents decreased by 138.23% to -CNY 31,616,785.10, indicating liquidity challenges[64]. Social Responsibility - The company donated 200,000 yuan for epidemic prevention and provided over 100,000 masks to international partners during the pandemic[41]. - Shanghai NAR actively engages in social responsibility initiatives, focusing on environmental protection and community support[155]. - There were no major environmental violations reported, confirming compliance with environmental regulations[159].