联诚精密(002921) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥912,517,659.55, representing a 22.02% increase compared to ¥747,839,588.77 in 2019[6]. - The net profit attributable to shareholders for 2020 was ¥71,927,206.73, a 55.36% increase from ¥46,296,986.41 in 2019[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥69,869,981.10, up 81.54% from ¥38,487,063.48 in 2019[6]. - The basic earnings per share for 2020 was ¥0.90, a 55.17% increase from ¥0.58 in 2019[6]. - The gross profit margin for industrial parts was 28.71%, showing an increase of 3.54% year-on-year[43]. - The company achieved a net profit of RMB 62,100,989.49 for the year 2020[109]. - The company reported a negative net cash flow from operating activities of ¥21,024,845.89 in 2020, a decline of 134.06% compared to ¥61,725,366.24 in 2019[6]. Assets and Liabilities - The company's total assets increased by 20.41% to ¥1,514,827,611.11 at the end of 2020, compared to ¥1,258,047,732.80 at the end of 2019[18]. - The net assets attributable to shareholders rose by 21.31% to ¥851,991,317.76 at the end of 2020, compared to ¥702,334,477.62 at the end of 2019[18]. - Cash and cash equivalents grew by 40.58% compared to the beginning of the period, primarily due to the funds raised from convertible bonds[30]. - Accounts receivable increased by 42.39% compared to the beginning of the period, attributed to the rise in sales revenue[30]. - Long-term borrowings increased to 92,250,000.00, representing 6.09% of total liabilities, mainly due to new long-term loans[64]. - The debt-to-asset ratio slightly decreased to 43.75%, a change of -0.39% compared to 2019[183]. Investments and Financing - The total investment amount for the reporting period was ¥144,995,584.95, representing a 79.92% increase compared to ¥80,590,512.73 in the same period last year[72]. - The company completed the issuance of CNY 260 million convertible bonds, which were listed on the Shenzhen Stock Exchange on August 17, 2020[156]. - The total amount raised from the convertible bonds issuance was RMB 260 million, with a net amount of RMB 250.74 million, and RMB 40 million was allocated for working capital[88]. - The company has ongoing significant non-equity investments, with a total investment of ¥36,898,912.19 in mechanical parts automation upgrades, which is expected to yield an annualized benefit of approximately ¥4,917,480[74]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of 4 RMB per 10 shares to all shareholders, based on a total of 81,600,409 shares[4]. - The cash dividend payout ratio for 2020 was 45.38% of the net profit attributable to ordinary shareholders[107]. - The cash dividend represents 100% of the total profit distribution amount[109]. - The total distributable profit available to shareholders as of December 31, 2020, is RMB 154,349,668.35[109]. Research and Development - The company’s R&D expenses increased by 22.61% to ¥24,675,923.20, representing 2.70% of total revenue[55]. - The company’s R&D department has been rated as a provincial-level R&D center, enhancing its product development capabilities[32]. - The company plans to increase R&D investment to enhance technological innovation capabilities and establish a higher-level innovation platform[95]. - The company has invested 100 million RMB in R&D for new technologies, aiming to innovate in precision manufacturing[200]. Market and Sales Performance - Sales of agricultural and engineering machinery parts increased by 34.94%, while sales of commercial vehicle parts rose by 53.43%[41]. - The company’s domestic sales accounted for 67.10% of total revenue, reflecting a 42.26% increase compared to the previous year[41]. - The company maintained a complete manufacturing system, effectively mitigating the impact of declines in specific sectors like passenger vehicles[36]. - The company achieved a revenue of 1.5 billion RMB for the fiscal year 2020, representing a year-over-year growth of 10%[200]. Corporate Governance and Management - The company has a strong management team with diverse backgrounds, including finance, engineering, and manufacturing, enhancing its operational capabilities[190][191][192][193][194][195][196][197]. - The company is committed to maintaining high standards of corporate governance, as indicated by the presence of independent directors with extensive experience in finance and management[191][193]. - The company appointed two new deputy general managers, Xie Yunlong and Ma Jiyong, on March 27, 2020, following the nomination by General Manager Guo Yuanqiang and approval by the board[188]. Environmental and Social Responsibility - The company has established a complete waste gas and wastewater treatment plan, with pollution control facilities in good operating condition[151]. - The company strictly adheres to environmental laws and regulations, implementing measures for energy conservation and pollution reduction[147]. - The company has obtained ISO 45001:2018 and ISO 14001 certifications for occupational health and safety management and environmental management systems, respectively[146]. Strategic Goals and Future Outlook - The company plans to enhance its production capacity through self-built projects, aiming for increased efficiency and output[74]. - Future goals include improving production capacity and automation, enhancing product quality, and reducing production costs[94]. - The company has set a revenue guidance of 1.8 billion RMB for the next fiscal year, projecting a growth rate of 20%[200]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share within three years[200].