TVT(SZ:002835)2021-04-27 16:00Financial Performance - The company's operating revenue for 2020 was CNY 788,394,128.45, representing a 23.95% increase compared to CNY 636,044,012.31 in 2019[18]. - The net profit attributable to shareholders for 2020 was CNY 70,653,528.46, a significant increase of 126.21% from CNY 31,234,065.42 in 2019[18]. - The net profit after deducting non-recurring gains and losses was CNY 63,098,221.81, which is a 195.77% increase compared to CNY 21,333,559.70 in 2019[18]. - The basic earnings per share for 2020 was CNY 0.33, up 135.71% from CNY 0.14 in 2019[18]. - The total assets at the end of 2020 were CNY 1,097,972,463.68, an 18.26% increase from CNY 928,460,358.36 at the end of 2019[18]. - The net assets attributable to shareholders at the end of 2020 were CNY 751,735,752.38, a 10.03% increase from CNY 683,186,761.78 at the end of 2019[18]. - The net cash flow from operating activities for 2020 was CNY 71,833,085.22, a decrease of 29.27% compared to CNY 101,557,631.54 in 2019[18]. - The company reported a quarterly revenue of CNY 259,348,471.20 in Q4 2020, contributing to a total annual revenue growth[22]. - The company reported a total revenue of 7,555.31 million, a decrease from 9,900.51 million in the previous year, indicating a decline of approximately 23.5%[24]. - In 2020, the company achieved revenue of 788 million yuan, a year-on-year increase of 23.95%, and a net profit of 70.65 million yuan, up 126.2% compared to the previous year, marking the best performance since its establishment[86]. Dividend Policy - The company plans to distribute a cash dividend of CNY 1 per 10 shares to all shareholders[6]. - For the 2020 fiscal year, the company declared a cash dividend of 1 yuan per 10 shares, based on 219,677,923 shares, totaling 21,967,792 yuan[144]. - The cash dividend for 2020 represents 31.09% of the net profit attributable to ordinary shareholders[143]. - The total cash dividend for 2020 was 21,967,792 yuan, which accounted for 100% of the profit distribution total[144]. - The company has maintained a consistent dividend payout strategy over the past three years, with increasing amounts each year[142]. - The company has a commitment to ensure that cash dividends represent at least 20% of profit distribution in the future[144]. Research and Development - The company increased its R&D investment to 126 million yuan in 2020, an 18.37% increase year-on-year, accounting for 15.93% of total revenue, with 326 R&D personnel, representing 27.39% of total employees[86]. - The company’s R&D team is considered a core competitive advantage, with a focus on continuous innovation and technology upgrades[80]. - The company focuses on AI technology development, enhancing its product offerings in areas such as facial recognition for visitor management, access control, and attendance systems[86]. - The company has established independent teams for AI smart camera hardware and edge computing hardware to support fragmented AI applications[88]. - The company has invested in AI algorithms and hardware development to create scene-smart cameras that address specific user needs in various applications[51]. Product Development and Technology - The company focuses on developing AI-based video surveillance products, including a full range of AI cameras and intelligent application servers, enhancing user experience significantly[27]. - In 2020, the company expanded its AI infrastructure, including a server center for algorithm training, to improve the reliability and usability of its surveillance products[28]. - The AI algorithms developed by the company achieved high recognition rates in over 50 countries for license plate recognition, addressing global customer needs[29]. - The company launched a cloud platform that supports millions of video devices, offering advantages such as data security and on-demand storage allocation[31]. - The cloud solution integrates video monitoring, intelligent analysis, and resource sharing, applicable in various scenarios like smart communities and pandemic prevention[32]. - The company has developed advanced video processing capabilities tailored for security monitoring, focusing on accurate image reproduction and detail recognition under various environmental conditions[40]. - The company has introduced mixed light image fusion technology, enhancing image detail retention in low-light conditions compared to traditional infrared lighting[40]. - The company has achieved breakthroughs in thermal imaging technology, particularly for temperature measurement applications, addressing low resolution issues in current industry sensors[45]. - The company has expanded its product line to include AI-driven cameras capable of facial recognition, license plate recognition, and real-time monitoring of various scenarios[51][52]. - The company has launched a series of high-end professional camera products for various industry applications, including a dual-lens laser ball camera with a maximum 50x zoom and 500 meters infrared night vision capability[55]. Market and Sales - The overseas market contributed ¥735,802,657.41, which is 93.33% of total revenue, showing a growth of 25.98% year-on-year[95]. - The company produced 2,740,054 units in 2020, a 16.72% increase from 2,347,450 units in 2019, while sales volume reached 2,589,377 units, up by 8.05%[99]. - The front-end video surveillance products generated ¥408,730,312.52, accounting for 51.85% of total revenue, with an 8.69% increase from the previous year[95]. - The other products segment saw a significant increase of 356.45%, generating ¥149,085,557.78 in revenue[95]. Risk Management - The company faces risks related to technological updates, product price fluctuations, and high overseas market share[6]. - The company has implemented foreign exchange hedging to mitigate risks associated with currency fluctuations, focusing on locking in exchange rates based on predicted payment timelines and amounts[118]. - The independent directors support the company's foreign exchange hedging activities, stating that they align with business development needs and comply with relevant laws and regulations[119]. - The company has established a comprehensive risk management framework for foreign exchange hedging, including internal control measures and regular audits[118]. - The company has identified risks related to supply chain disruptions due to the global pandemic and political conflicts[133]. Corporate Governance - The company has not reported any significant changes in accounting policies or principles compared to the previous reporting period[119]. - The company has not faced any bankruptcy reorganization matters during the reporting period[159]. - The company has adhered to all commitments made in the prospectus without any violations[150]. - The company emphasizes transparency and timely information disclosure to enhance investor relations[183]. - The company has a stable profit distribution plan to protect the interests of minority shareholders[183]. Shareholder Information - The number of shareholders holding more than 5% of shares includes Guo Lizhi (31.50%), Liu Ti (24.06%), and Huang Zitai (7.33%) as the top three shareholders[198]. - The total number of shareholders at the end of the reporting period was 17,244, down from 18,331 at the end of the previous month[198]. - The company’s stock structure remains stable with minimal changes in the number of restricted and unrestricted shares[196].