JOINTAS(SZ:002909)2021-04-08 16:00Financial Performance - The company's operating revenue for 2020 was CNY 1,258,711,606.33, representing a 23.88% increase compared to CNY 1,016,051,923.60 in 2019[16]. - The net profit attributable to shareholders for 2020 was CNY 111,751,115.89, a 30.83% increase from CNY 85,415,589.25 in 2019[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 108,855,031.65, up 29.66% from CNY 83,952,057.58 in 2019[16]. - The net cash flow from operating activities reached CNY 193,576,326.86, a significant increase of 296.24% compared to CNY 48,853,515.40 in 2019[16]. - Basic earnings per share for 2020 were CNY 0.479, reflecting a 30.52% increase from CNY 0.3671 in 2019[16]. - The diluted earnings per share also stood at CNY 0.479, marking a 30.52% increase from CNY 0.3672 in 2019[16]. - The weighted average return on equity was 20.29%, an increase of 2.57% from 17.72% in 2019[16]. - Total assets increased by 65.08% to CNY 1,649,087,552.24 compared to the previous year[17]. - Net assets attributable to shareholders rose by 65.58% to CNY 860,795,882.28[17]. Dividend Policy - The company plans to distribute a cash dividend of CNY 1.5 per 10 shares, with no bonus shares issued[4]. - The cash dividend payout ratio for 2020 is 35.52% of the net profit attributable to ordinary shareholders, while the total cash dividend (including other methods) is 35.87%[151]. - The cash dividend for 2019 was RMB 3.00 per 10 shares (tax included), amounting to RMB 50,100,594.30, along with a capital reserve conversion of 4 shares for every 10 shares[148]. - The cash dividend payout ratio for 2019 was 58.66%, with total cash dividends (including other methods) at 79.73%[151]. - The company strictly adheres to its profit distribution policy, ensuring compliance with the Articles of Association and the three-year shareholder dividend return plan (2018-2020)[146]. Business Expansion and Product Development - The company has expanded its product line to include electronic adhesives through the acquisition of Zhao Shun Technology in 2019[25]. - The company focuses on green and environmentally friendly products, aiming to increase market share and brand influence[25]. - The company has established a complete R&D, manufacturing, sales, and service system in the sealant and coating industry[25]. - The company expanded its main business into the electronic power sector by acquiring Zhao Shun Technology in 2019, covering LED drivers, new energy vehicles, and electronic components[29]. - The company’s new product development focuses on enhancing performance characteristics such as weather resistance, aging resistance, and UV protection[30]. - The company is actively expanding into new markets such as LED driver power supplies, steel structures, and new energy vehicles, aiming to cultivate future growth points[54]. Market Position and Strategy - The company has positioned itself in the mid-to-high-end market for silicone sealants, achieving a strong competitive advantage in technology innovation, product quality, and customer resources[49]. - The company aims to strengthen its market position through continuous innovation and expansion of its product offerings in the adhesive and coating sectors[29]. - The sealing adhesive and coating industries have significant downstream markets, including construction, automotive, and electronics, indicating strong demand[43]. - The company’s sales strategy includes a combination of direct sales and distribution, enhancing market penetration in key regions[46]. - The company has established long-term partnerships with reliable suppliers, ensuring a stable supply chain for key raw materials[42]. Research and Development - The company invested 52.95 million RMB in R&D, representing a year-on-year growth of 40.22%[79]. - The company has obtained 150 patent applications, with 84 patents granted, showcasing its commitment to innovation and technology development[61]. - The company has developed several patented technologies for its products, including environmentally friendly silicone sealants and high-performance adhesives[84]. - R&D personnel count rose by 20% to 120, with R&D expenses constituting 4.21% of operating revenue[103]. Financial Management and Investments - The company raised a total of approximately CNY 299.99 million through a private placement of 32,715,375 shares at a price of CNY 9.17 per share, with a net amount of CNY 277.37 million after deducting issuance costs[81]. - The company reported a significant increase in investment, with total investments of ¥280,931,952, representing a 193.26% increase compared to the previous year[116]. - The company has committed to an investment project for the annual production of 80,000 tons of neutral silicone sealant and 30,000 tons of modified silicone sealant, with a total investment of CNY 29,054.79 million[124]. - The company has maintained unused raised funds in a dedicated account, ensuring proper management of financial resources[125]. Corporate Governance and Compliance - The company is focused on improving its corporate governance structure to ensure timely and accurate information disclosure to investors[200]. - The company has established mechanisms to ensure compliance with public commitments, including potential penalties for violations by the controlling shareholder[164]. - The company has committed to maintaining its controlling position after any share reductions, ensuring compliance with relevant regulations[157]. - The company has established a clear framework for share reduction post-lock-up, including a maximum of 50% of total shares within 12 months after leaving the position[157]. Environmental and Social Responsibility - The company emphasizes sustainable development, balancing economic, social, and environmental benefits in its operations[200]. - The company has reduced VOCs emissions by over 30,000 tons over the past decade through its water-based paint initiatives[135]. - Employee welfare initiatives include providing social insurance and organizing various activities to enhance workplace comfort and cohesion[200].