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[18]. - The net profit attributable to shareholders for 2020 was ¥71,927,206.73, a 55.36% increase from ¥46,296,986.41 in 2019[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥69,869,981.10, an 81.54% increase from ¥38,487,063.48 in 2019[18]. - The basic earnings per share for 2020 was ¥0.90, up 55.17% from ¥0.58 in 2019[18]. - The total assets at the end of 2020 were ¥1,514,827,611.11, a 20.41% increase from ¥1,258,047,732.80 at the end of 2019[19]. - The net assets attributable to shareholders at the end of 2020 were ¥851,991,317.76, a 21.31% increase from ¥702,334,477.62 at the end of 2019[19]. - The company reported a negative net cash flow from operating activities of ¥21,024,845.89 in 2020, a decrease of 134.06% compared to ¥61,725,366.24 in 2019[18]. - The company achieved a revenue of CNY 912.52 million, representing a year-on-year growth of 22.02%[38]. - The net profit attributable to shareholders was CNY 71.93 million, an increase of 55.36% compared to the previous year[38]. - The net profit excluding non-recurring gains and losses reached CNY 69.87 million, up 81.54% year-on-year[38]. Investment and Subsidiaries - The company has established a wholly-owned subsidiary, Ningbo Hailian Precision Manufacturing Co., Ltd., in August 2020, and a controlling subsidiary, Jiangsu Liancheng Precision Alloy Technology Co., Ltd., in September 2020, both included in the consolidated financial statements[51]. - The company has ongoing investments in non-equity projects, indicating a focus on expanding operational capabilities[76]. - The company reported a total investment of CNY 65,483.3 million in precision component intelligent manufacturing projects, achieving a utilization rate of 36.23%[78]. - The company invested 30 million RMB to establish a wholly-owned subsidiary, Ningbo Hailian Precision Manufacturing Co., Ltd.[158]. - A joint venture named Jiangsu Liancheng Precision Alloy Technology Co., Ltd. was established with a registered capital of 100 million RMB[158]. Research and Development - The company is committed to technological innovation and has been recognized as a provincial-level R&D center[34]. - Research and development expenses increased by 22.61% to ¥24,675,923.20, representing 2.70% of operating revenue[56]. - The company employed 156 R&D personnel, a 24.80% increase from the previous year, with R&D personnel now making up 8.93% of the workforce[57]. - The company plans to increase R&D investment to improve technological innovation capabilities and enhance product quality and competitiveness[97]. - The company is investing 100 million RMB in R&D for new technologies aimed at improving product quality and reducing costs[198]. Market Strategy and Operations - The company is focusing on expanding its domestic market, particularly in commercial vehicles and agricultural machinery sectors[38]. - The company has formed stable partnerships with major domestic and international manufacturers, enhancing its competitive position[35]. - The company is focusing on high-end product lines, with a notable increase in the sales proportion of high-precision and high-difficulty products[39]. - Continuous investment in automation and smart manufacturing has improved production efficiency and reduced labor intensity[39]. - Lean production practices have been implemented to enhance internal management and reduce waste, contributing to improved profitability[39]. Financial Management - The company reported a non-recurring gain of CNY 3,074,712.70, which accounted for 3.48% of total revenue[68]. - The company is actively managing its financial assets, with a total of CNY 20,137,990.40 in financial assets measured at fair value[69]. - The company received government subsidies amounting to ¥4,646,135.82 in 2020, down from ¥14,677,326.57 in 2019[24]. - The company has established a dedicated account for raised funds, adhering to a tripartite supervision agreement with the sponsor and the bank[86]. - The company plans to utilize the remaining CNY 14,590.83 million of raised funds for project equipment payments and warranty funds[84]. Corporate Governance and Compliance - The company emphasizes corporate social responsibility and adheres to legal regulations to enhance governance and transparency[147]. - The company has established a comprehensive performance evaluation system for employees, ensuring their rights and enhancing their sense of belonging[148]. - The company has obtained ISO45001:2018 and ISO14001 certifications for occupational health and safety management and environmental management systems[148]. - The company strictly complies with environmental laws and regulations, implementing measures for energy conservation and pollution reduction[149]. - The company has not initiated any targeted poverty alleviation work during the reporting period and has no subsequent plans[150]. Shareholder Information - The company reported a cash dividend of 4 RMB per 10 shares, totaling 32,640,163.60 RMB for the year 2020[110]. - The company will also increase its capital stock by 3 shares for every 10 shares held, based on a total share capital of 81,600,409 shares[110]. - The net profit available for distribution to shareholders as of December 31, 2020, is 154,349,668.35 RMB[111]. - Major shareholder Guo Yuanqiang holds 23.82% of the shares, with a total of 19,440,000 shares, of which 4,860,000 are pledged[171]. - The total number of shareholders increased to 9,812 by the end of the reporting period, up from 9,546 at the end of the previous month[171]. Risk Management - The company acknowledges the impact of the COVID-19 pandemic on its export business, which constitutes a significant portion of its revenue, and is adjusting its strategy to strengthen domestic market development[100]. - The company is committed to addressing raw material price fluctuations by adjusting sales prices and enhancing procurement strategies to mitigate risks[100]. - The company has implemented measures to mitigate foreign exchange risks, including timely price adjustments and forward foreign exchange contracts[101]. - The company has faced risks related to market competition in the casting industry, which is characterized by numerous competitors and intense competition[101]. Future Outlook - The company has set a revenue guidance of 1.8 billion RMB for the next fiscal year, projecting a growth of 20%[198]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[198]. - A strategic acquisition of a local competitor is in progress, which is expected to enhance the company's product offerings and market reach[198]. - The management highlighted a focus on sustainability initiatives, aiming for a 25% reduction in carbon emissions by 2025[198]. - The board of directors emphasized the importance of digital transformation, with plans to implement advanced analytics in operations by 2022[198].