同兴达(002845) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was CNY 10,601,084,867.69, representing a 71.10% increase compared to CNY 6,195,959,819.12 in 2019[17]. - The net profit attributable to shareholders for 2020 was CNY 257,993,850.37, a 133.37% increase from CNY 110,553,727.30 in 2019[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 206,693,285.43, a significant increase of 9,978.49% compared to CNY 2,050,835.30 in 2019[17]. - The basic earnings per share for 2020 was CNY 1.240, up 125.45% from CNY 0.550 in 2019[17]. - The total assets at the end of 2020 were CNY 9,326,361,005.94, reflecting a 45.71% increase from CNY 6,400,650,879.29 at the end of 2019[17]. - The net cash flow from operating activities for 2020 was CNY 76,953,356.06, a decrease of 80.46% from CNY 393,895,669.41 in 2019[17]. - The weighted average return on net assets for 2020 was 17.00%, an increase of 7.81% compared to 9.19% in 2019[17]. - The total operating revenue for the fourth quarter was ¥3,324,496,794.73, with a total annual revenue of ¥10,600,084,867.69, reflecting a strong performance throughout the year[22]. - The net profit attributable to shareholders for the fourth quarter was ¥87,056,665.00, with a total annual net profit of ¥258,973,849.37, indicating a positive trend in profitability[22]. - The company reported a net cash flow from operating activities of ¥275,945,715.08 in the fourth quarter, showing a recovery from negative cash flow in the earlier quarters[22]. Revenue and Market Position - The company’s revenue from camera products surged by 129.92% to CNY 2,019.80 million, accounting for 19.05% of total revenue[48]. - The company’s domestic revenue reached CNY 9,492.63 million, representing 89.54% of total revenue, with a growth of 69.23% year-on-year[48]. - The company has established long-term stable partnerships with major brands such as OPPO, vivo, and Samsung, enhancing its market position[27]. - The company plans to increase market development efforts with both domestic and international smartphone manufacturers, aiming for further expansion[27]. - The company’s revenue for the optical electronic devices and others segment reached ¥10.60 billion, a year-on-year increase of 71.10%[50]. - The sales volume of optical electronic devices increased by 22.18% to 144,052,536 units in 2020 compared to 2019[51]. Investment and Expansion - The company expanded its production capacity for OLED smart wearables and large-size integrated display modules, achieving mass production[44]. - The company has completed the construction of its hard OLED production line, which is now in mass production[37]. - The company’s investment in the "irregular full-screen dual-in-one display module project" raised approximately CNY 798 million to expand production capacity[44]. - The establishment of the factory in India aims to enhance service capabilities and market share in the region, despite a slowdown due to the pandemic[39]. - The company is actively promoting a CNY 600 million investment project for a new shape full-screen dual-in-one display module[91]. Cash Flow and Financial Management - Operating cash inflow for 2020 was CNY 7,499,860,204.71, an increase of 47.08% compared to CNY 5,099,191,000.86 in 2019[58]. - Total cash and cash equivalents increased by 3,302.56% to CNY 613,711,265.99 from CNY 18,036,743.33[58]. - The net cash flow from financing activities surged by 5,481.48% to CNY 1,136,736,125.67 from CNY 20,366,210.48[58]. - The company reported a major difference between net cash flow from operating activities and net profit due to significant sales growth and uncollected receivables in the fourth quarter[59]. Dividend Policy - The company plans to distribute a cash dividend of CNY 1.2 per 10 shares to all shareholders, based on a total of 233,616,704 shares[5]. - The cash dividend for 2019 was 0.6 CNY per 10 shares, amounting to 12,125,422.08 CNY (including tax)[104]. - The cash dividend payout ratio for 2020 was 10.87% of the net profit attributable to ordinary shareholders[106]. - The company has maintained a consistent cash dividend policy over the past three years, with no changes or adjustments made during the reporting period[103]. Risks and Challenges - The company faces risks from market competition, potential industry growth slowdown, and the ongoing impact of the COVID-19 pandemic[95]. - The company is facing risks related to raw material price fluctuations, particularly for key components like LCD panels, which could impact production costs[96]. - Inventory levels are high, which poses a risk to liquidity and increases the potential for inventory write-downs if customer demand falters[97]. - The top five suppliers accounted for a significant portion of the company's procurement, indicating a concentration risk that could affect production if supplier relationships deteriorate[96]. Corporate Governance and Compliance - The company has committed to not reducing its holdings of restricted stock options for 24 months after the lock-up period ends on September 13, 2020[116]. - The company will not transfer any shares obtained through the non-public offering for 6 months from the date of listing, which is November 4, 2020[114]. - The company has made commitments to compensate for any losses caused to investors if it violates its commitments[113]. - The company has established a lock-up period for newly issued shares, which will last for 18 months from the date of listing[115]. - The company has a strategy in place to ensure compliance with securities regulations and avoid penalties[114]. Employee and Social Responsibility - The company maintained a commitment to social responsibility, ensuring the protection of shareholder and creditor rights, and adhering to labor laws to safeguard employee rights[149]. - The company provided 100,000 RMB in assistance to impoverished employees through its employee care foundation during the reporting period[151]. - The company plans to continue its employee welfare fund support actions and provide job opportunities in collaboration with local educational institutions[153]. - The company will continue to employ disabled individuals and provide vocational training to promote stable employment for impoverished populations[153]. Research and Development - Research and development expenses rose by 43.08% to ¥305.13 million, accounting for 2.88% of total revenue[57]. - The company has achieved mass production capabilities for several advanced technologies, including on-cell display modules and mini-LED backlight modules[56]. - The company is focusing on the development of flexible OLED technology, which is expected to see rapid growth and wide application in various industries[88]. - The company plans to enhance its core competitiveness through continuous technological innovation and increase investment in R&D[92].