QiaoYin(SZ:002973)2021-03-30 16:00Financial Performance - The company's operating revenue for 2020 was CNY 2,829,108,743.25, representing a 28.87% increase compared to CNY 2,195,309,980.94 in 2019[16]. - The net profit attributable to shareholders for 2020 was CNY 375,672,082.83, a significant increase of 186.03% from CNY 131,342,269.51 in 2019[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 370,323,760.91, up 197.55% from CNY 124,456,242.23 in 2019[16]. - The net cash flow from operating activities for 2020 was CNY 305,474,021.77, an increase of 107.27% compared to CNY 147,383,239.30 in 2019[16]. - Basic earnings per share for 2020 were CNY 0.92, reflecting a 155.56% increase from CNY 0.36 in 2019[16]. - The weighted average return on equity for the company was 30.43%, a significant increase from 16.35% in the previous year[17]. - Total assets at the end of 2020 reached ¥4,472,312,661.08, representing a 36.48% increase compared to ¥3,276,870,221.16 at the end of 2019[17]. - Net assets attributable to shareholders increased by 37.01% to ¥1,446,792,574.16 from ¥1,056,005,091.07 in 2019[17]. - The company achieved a revenue of ¥2,829,108,743.25 during the reporting period, reflecting a strong growth trend in the environmental sanitation management industry[34]. - The company reported a total distributable profit of 358,969,729.11 CNY for the year 2020, with the cash dividend accounting for 100% of the profit distribution[107]. Dividend Policy - The company plans to distribute a cash dividend of CNY 1 per 10 shares to all shareholders, based on a total of 408,660,000 shares[5]. - The cash dividend for 2020 represents 10.88% of the net profit attributable to ordinary shareholders, which was 375,672,082 CNY[106]. - The company has maintained a stable profit distribution policy, ensuring reasonable returns to investors while considering sustainable development[104]. - The cash dividends for the past three years have shown a consistent increase, with 10.03% in 2018, 10.58% in 2019, and 10.88% in 2020[106]. - The proposed cash dividend distribution is CNY 1.00 per 10 shares, totaling CNY 40,866,000 (including tax), which represents 10.88% of the net profit attributable to the parent company for the year[108]. Business Strategy and Operations - The company has maintained its focus on urban management and environmental sanitation services, with no significant changes in its business strategy[14]. - The company aims to expand its market presence by leveraging its full industry chain layout and experience in sanitation and environmental services[25]. - The company is actively involved in drafting industry standards for urban sanitation and waste management, enhancing its influence in the sector[26]. - The company has implemented a "City Manager" strategy, focusing on integrated urban management services, which improves operational efficiency and reduces public service costs[37]. - The company is focused on enhancing service quality and management levels, aligning with national policies to support sustainable development and environmental quality improvement[94]. Market Expansion and Development - The company operates in over 70 cities across 19 provinces in China, managing more than 300 projects, which enhances its national influence and competitive strength[41]. - The environmental sanitation management industry is currently in a rapid development phase, driven by government procurement and marketization, indicating significant future growth potential[33]. - The company expanded its service coverage to over 70 cities by the end of 2020, with new regional marketing centers established in Fujian, Xinjiang, Zhejiang, Sichuan, and Liaoning[45]. - The company is actively participating in the rural revitalization strategy, focusing on improving rural living environments and increasing market share through integrated sanitation services[95]. Technology and Innovation - The company has invested in technology, utilizing big data and cloud computing to enhance vehicle management and operational efficiency, leading to a more streamlined management process[42]. - The company upgraded its smart sanitation platform in collaboration with Tsinghua University, enhancing operational efficiency and project management through advanced technologies like IoT and big data[47]. - The company is committed to promoting "smart sanitation" technologies, leveraging IoT to optimize resource allocation and improve operational efficiency[94]. - The company plans to leverage new information technologies such as big data, cloud computing, and AI to improve project management efficiency and create a smart sanitation operation management ecosystem[97]. Social Responsibility - The company is actively contributing to social responsibility by providing employment opportunities to various disadvantaged groups, enhancing its brand image[41]. - The company has actively participated in poverty alleviation efforts, helping over 1,200 impoverished households find employment[150]. - The company has funded 76 impoverished students in 2020 through various educational initiatives, including scholarships and school construction[151]. - The company implemented a "Ten Thousand Miles Clean Action" public welfare annual meeting, involving 600 employees in various environmental activities, which received strong public response[148]. Financial Management and Structure - The company has a low default risk and stable income sources, primarily funded by government fiscal budgets, which ensures financial security[32]. - The company has engaged Huaxing Accounting Firm for auditing services during the reporting period[15]. - The company has a clear strategy to avoid competition with its major shareholders and management personnel[112]. - The company has a stable operational performance and is expected to generate stable operating cash flow through internal growth[176]. Employee and Management - The company has maintained a stable employee count, reaching a total of 45,000 employees in 2020, despite economic downturns and the impact of the pandemic[150]. - The management team includes experienced professionals with backgrounds in environmental technology and management[181][182][183]. - The company has implemented a competitive compensation policy that includes salaries, performance bonuses, and various insurance benefits[196]. - The training program has been enhanced to support the "City Manager" strategy, focusing on both online and offline training methods[197].