奥士康(002913) - 2020 Q4 - 年度财报

Financial Performance - The company reported a significant increase in revenue, with a year-over-year growth of 20% in 2020 [14]. - The company's operating revenue for 2020 was CNY 2,910,709,169.85, representing a 27.89% increase compared to 2019 [19]. - The net profit attributable to shareholders for 2020 was CNY 349,246,718.65, reflecting a growth of 30.55% year-over-year [19]. - The net profit after deducting non-recurring gains and losses was CNY 291,099,059.33, which is a 25.64% increase from the previous year [19]. - The basic earnings per share for 2020 was CNY 2.40, up 30.43% from CNY 1.84 in 2019 [19]. - The company reported a net cash flow from operating activities of CNY 338,217,808.73, a decrease of 33.61% compared to the previous year [19]. - The company's net profit for the reporting period was CNY 349,246,718.65, with a significant adjustment of CNY 564,188,859.76 due to various factors including depreciation and impairment losses [68]. - The company's net profit for 2020 was RMB 192,892,048, with a retained earnings balance of RMB 459,635,174.02 at year-end [121]. Dividend Distribution - The company plans to distribute a cash dividend of 12.5 CNY per 10 shares to all shareholders, based on a total of 158,868,152 shares [6]. - In 2020, the company distributed cash dividends of RMB 198,585,190, which is 56.86% of the net profit attributable to shareholders [121]. Market Expansion and Strategy - The company is focusing on expanding its market presence, particularly in the Asia-Pacific region, to capture a larger share of the PCB market [14]. - The company aims to enhance its market position by focusing on high-end PCB products such as HDI and multi-layer boards, which are expected to gain a larger market share [102]. - Over the next three to five years, the company plans to expand its market presence in Korea, Japan, Taiwan, Europe, and North America, implementing a global strategy and localizing its business teams [103]. - The company aims to increase production capacity by 25% in the next fiscal year to meet rising demand [14]. Research and Development - The company has invested in new technology development, particularly in high-density interconnection (HDI) boards, to enhance product offerings [12]. - The company invests 3% to 4% of its revenue annually in R&D to enhance its technological capabilities [35]. - R&D investment totaled CNY 127.17 million, marking a 42.12% increase year-on-year, focusing on advanced HDI and high-frequency communication technologies [47]. - The number of R&D personnel increased by 15.69% to 494, with R&D personnel accounting for 10.74% of total employees [64]. Operational Efficiency - The company has maintained a stable gross margin of approximately 30% throughout the year, indicating effective cost management [14]. - The company employs a lean production model driven by orders, effectively controlling raw material inventory and production costs [28]. - The company is focusing on high-speed production processes to improve efficiency and reduce costs amid rising labor expenses [37]. - The successful launch of the SAP ERP system and other information technology initiatives has improved operational efficiency and management capabilities [48]. Risk Management - The company acknowledges risks related to raw material price fluctuations, which could adversely affect operational performance if not managed effectively [112]. - The PCB industry is facing risks due to potential economic downturns, with a global GDP decline of 4.4% in 2020 impacting the sector [111]. - The company has implemented measures to control risks related to foreign exchange hedging, including regular audits and compliance checks [84]. Environmental Responsibility - The company has achieved compliance with wastewater discharge standards, with annual COD emissions of 70.62 tons and ammonia nitrogen emissions of 7.42 tons [183]. - The company has established a comprehensive environmental emergency response plan, with the latest revision in December 2020 [189]. - The company’s wastewater treatment center processes wastewater through a series of advanced treatment methods, ensuring stable and compliant discharge [186]. - The company invested 30 million yuan in environmental facilities in 2010, with a processing capacity of 4,000 L/day, and upgraded to 6,000 L/day after a 2 million yuan investment in 2016 [185]. Corporate Governance - The company has fulfilled all commitments made by actual controllers, shareholders, related parties, and acquirers during the reporting period and as of the end of the reporting period [123]. - The company has committed to publicly disclose reasons for any non-fulfillment of commitments in its shareholder meetings and designated publications [126]. - The company has ensured compliance with relevant laws and regulations regarding the conduct of directors and senior management [126]. Social Responsibility - The company invested a total of 42.84 million CNY in social responsibility initiatives, including 29.28 million CNY for supporting 150 impoverished students [176]. - The company provided 200 million CNY in cash and materials to over 50 hospitals and the Red Cross for pandemic relief efforts [177]. - The company plans to continue its support for impoverished students and rural households in 2021 as part of its social responsibility efforts [178].