NAR(SZ:002825)2021-03-25 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 from CNY 80,621,380.65 in 2019[18]. - Basic earnings per share rose to CNY 0.650, reflecting a 116.67% increase compared to 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[18]. - The company reported a significant increase in quarterly revenues, with Q4 2020 revenue reaching CNY 395,631,648.19[21]. - The company reported a net profit of 6,103,189.50 in 2020, a decrease of 9.1% compared to 6,717,556.26 in 2019[23]. - The company received government subsidies amounting to 5,881,029.82 in 2020, an increase of 33.7% from 4,399,224.67 in 2019[23]. Research and Development - The company has patented 6 new technologies during the reporting period, with 34 patent applications currently under review, including 30 invention patents[31]. - 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[30]. - The R&D team achieved significant breakthroughs in digital ink and eco-friendly inks, leading to substantial increases in sales and profitability[44]. - Research and development expenses totaled ¥59,648,287.07, accounting for 4.76% of total revenue, with a year-on-year increase of 17.51%[60]. - The company plans to increase R&D investment to enhance its technological capabilities and maintain a competitive edge in the digital printing industry[93]. Market Expansion and Product Development - The company operates in the digital printing materials and composite materials industry, focusing on the R&D, production, and sales of digital printing materials, digital ink, and automotive protective films[26]. - The company has expanded its product range to include dozens of subcategories, catering to diverse customer needs and providing a "one-stop" service[32]. - The sales revenue from the new automotive protective film exceeded 100 million yuan, marking a growth of over 200% year-on-year[42]. - The company aims to expand its market share in digital printing materials, particularly in outdoor advertising, by optimizing product structure and enhancing product value[88]. - The automotive protective film market is experiencing rapid growth, and the company plans to leverage its first-mover advantage to quickly expand production capacity and market share[89]. - The company is investing in new production facilities, including projects in Jiangxi and Thailand, to enhance production capabilities and maintain its leading position in the digital printing equipment sector[90]. - The company has identified outdoor advertising as a key growth area, with expectations for significant demand increases due to rising outdoor activities and communication needs[87]. Operational Efficiency - The company has implemented an "order-based production and moderate inventory" model, optimizing production efficiency[35]. - The company established a digital management system that improved operational efficiency and product delivery capabilities[45]. - The company is committed to optimizing its operational efficiency and risk management to improve overall financial performance[90]. - The company emphasizes strict compliance with national laws and regulations, aiming to enhance corporate governance and management levels[95]. - The company is committed to enhancing employee skills and optimizing processes to improve operational efficiency in response to human resource challenges[98]. Cash 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 cash dividend for 2020 represented 71.49% of the net profit attributable to shareholders, compared to 69.18% in 2019 and 22.61% in 2018[107]. - The total cash dividend for 2020 accounted for 100% of the total profit distribution[107]. - The company aims to maintain a cash dividend policy, distributing at least 20% of the annual distributable profit as cash dividends, provided certain conditions are met[101]. - The board of directors will propose differentiated cash dividend policies based on the company's development stage and capital expenditure plans[102]. Corporate Governance and Compliance - The company has established a comprehensive corporate governance structure to protect shareholder rights and ensure transparency in operations[153]. - The company is committed to adhering to relevant laws and regulations regarding related party transactions and corporate governance[109]. - The company will ensure that any share reduction does not harm the interests of other shareholders[109]. - The company has committed to social responsibility, focusing on sustainable development and environmental protection while enhancing economic benefits[153]. - The company will accept social supervision and allow regulatory bodies to urge timely corrections of unfulfilled commitments[112]. Shareholder Relations - The company will establish a robust investor relations management system to enhance communication and understanding with investors[95]. - The company will actively engage with small and medium shareholders to gather feedback on dividend proposals and ensure transparency in the distribution process[104]. - The company reported a total of 39.9 million CNY in entrusted financial management, with 23 million CNY from self-owned funds[146]. - The total number of ordinary shareholders at the end of the reporting period was 11,945, an increase from 11,825 at the end of the previous month[178]. - The largest shareholder, You Aiguo, holds 31.82% of the shares, totaling 46,757,563 shares, with a decrease of 35,068,170 shares during the reporting period[178]. Future Outlook - The company expects a revenue growth of 15% for the next fiscal year, projecting total revenue to reach approximately 1.725 billion RMB[199]. - New product launches are anticipated to contribute an additional 200 million RMB in revenue in the upcoming year[199]. - Market expansion plans include entering three new provinces, which are expected to increase market share by 5%[199]. - The management team emphasized a focus on sustainability initiatives, aiming to reduce operational costs by 10% through eco-friendly practices[199]. - The company plans to enhance its digital marketing strategy, expecting a 20% increase in online sales as a result[199].