YUTO TECH.(SZ:002831)2021-04-27 16:00Dividend Distribution - The company plans to distribute a cash dividend of 2.8 RMB per 10 shares to all shareholders, based on a total of 930,513,553 shares[3]. - The company has outlined its profit distribution plan, which does not include stock dividends or capital reserve transfers[3]. - The cash dividend for 2019 was RMB 2.8 per 10 shares, amounting to RMB 243,714,486.68, based on a share base of 870,408,881 shares[83]. - The cash dividend payout ratio for 2020 was 23.26% of the net profit attributable to ordinary shareholders, which was RMB 1,120,160,133.02[85]. - The total cash dividend (including other methods) for 2020 was RMB 288,474,806.66, representing 25.75% of the net profit attributable to ordinary shareholders[85]. - The company maintained a consistent profit distribution policy, prioritizing cash dividends, with a minimum cash dividend ratio of 20% during periods of significant capital expenditure[86]. - The company did not issue any bonus shares or convert capital reserves into share capital in the 2020 fiscal year[87]. - The total distributable profit for the year was RMB 2,499,976,555.63[86]. - The company’s cash dividend policy aims to balance shareholder returns with long-term sustainable development[83]. Financial Performance - The company's operating revenue for 2020 was approximately CNY 11.79 billion, representing a 19.75% increase from CNY 9.84 billion in 2019[15]. - The net profit attributable to shareholders for 2020 was approximately CNY 1.12 billion, a 7.20% increase from CNY 1.04 billion in 2019[15]. - The net profit after deducting non-recurring gains and losses was approximately CNY 984.74 million, reflecting a 1.80% increase from CNY 967.37 million in 2019[15]. - The company's total assets at the end of 2020 were approximately CNY 16.59 billion, a 31.91% increase from CNY 12.57 billion at the end of 2019[15]. - The net assets attributable to shareholders increased by 33.71% to approximately CNY 8.51 billion from CNY 6.36 billion in 2019[16]. - The basic earnings per share for 2020 was CNY 1.2862, up 7.65% from CNY 1.1948 in 2019[15]. - The diluted earnings per share for 2020 was CNY 1.2690, a 6.21% increase from CNY 1.1948 in 2019[15]. - The net cash flow from operating activities for 2020 was approximately CNY 1.00 billion, a decrease of 26.56% from CNY 1.37 billion in 2019[15]. - The company reported quarterly revenues of CNY 4.41 billion in Q4 2020, contributing significantly to the annual growth[19]. Risk Management - The company has identified risks including economic environment risks, market competition risks, and core talent loss risks, which are detailed in the future development outlook section[3]. - The company emphasizes the importance of investor awareness regarding investment risks as disclosed in designated media[3]. - The company is addressing the risk of core talent loss by implementing a comprehensive management and development mechanism to retain and attract skilled professionals[79]. Research and Development - The company has established long-term cooperative relationships with top research institutions, including South China University of Technology and Peking University, to enhance its R&D capabilities[29]. - The company has expanded its R&D personnel to 2,069, an increase of 18.16% from 1,751 in 2019, indicating a focus on innovation[46]. - The company is focusing on enhancing its research and development capabilities to provide comprehensive packaging solutions amid intense market competition[79]. - The company plans to invest in research and development of smart packaging, functional packaging, and high-end anti-counterfeiting printing technologies[77]. Environmental Responsibility - The company has received the national "Green Factory" title and will continue to promote the use of eco-friendly inks and biodegradable materials[77]. - The company is committed to using new eco-friendly packaging materials and technologies to meet customer needs[120]. - The company actively participates in environmental protection, with all monitored pollutants meeting the required discharge standards[126]. - The company has a total of 12.89 tons of VOCs emissions per year, which is within the permissible limits[127]. - The company has implemented emergency response plans for environmental incidents, with records filed for each facility[132]. Corporate Governance - The company has maintained independence from its controlling shareholder in business, personnel, assets, and financial aspects, ensuring no reliance on related parties for revenue and profit[199]. - The governance structure complies with relevant laws and regulations, with no significant discrepancies from the guidelines set by the China Securities Regulatory Commission[198]. - The board of directors operates independently, with established committees providing professional advice for decision-making[195]. - The company has implemented a succession plan for key positions to ensure talent development and retention[189]. Market Expansion - The company aims to enhance its presence in emerging markets such as eco-friendly packaging, cosmetics, and food packaging, which have shown good growth[76]. - The company has established multiple production bases in Vietnam, India, Indonesia, and Thailand, and service centers in Hong Kong, the USA, and Australia, to support its internationalization strategy[77]. - The company plans to enhance its digital marketing efforts, aiming for a 20% increase in online sales channels[176]. - The company is expanding its market presence by entering three new regions, aiming for a 30% increase in market penetration[176]. Employee Management - The total number of employees in the company is 21,728, with 4,317 in the parent company and 17,411 in major subsidiaries[186]. - The company has a total of 2,069 technical personnel, highlighting its emphasis on technical expertise[187]. - The total remuneration for directors and senior management is 1,219.39 million CNY, with the chairman and president receiving 188.84 million CNY[185]. - The company has established a competitive and fair salary system based on the "3P1M" principle, ensuring alignment between employee responsibilities, rights, and benefits[188]. Strategic Acquisitions - The company acquired 70% of Tianjin Tuwen Fangjia Printing Co., Ltd. for RMB 14.515 million, enhancing its market presence[140]. - The strategic acquisition of a smaller competitor is anticipated to enhance production capacity by 40%[177]. - The company is focused on leveraging its acquisitions to strengthen its competitive position in the packaging industry[140]. Financial Management - The company has a total of 98.8 million yuan in entrusted financial management, with 75.3 million yuan from raised assets and 23.5 million yuan from its own funds[121]. - The company has a total of 41.5 million yuan in outstanding balances for entrusted financial management, with no overdue amounts[121]. - The company has implemented a new revenue recognition standard effective January 1, 2020, which resulted in a decrease of 40,742,736.91 in advance receipts and an increase of 38,407,383.89 in contract liabilities[93].