Cheersson(SZ:002976)2021-04-27 16:00Dividend Distribution - The company plans to distribute a cash dividend of 1 RMB per 10 shares to all shareholders, based on a total of 100,000,000 shares, with no bonus shares issued [4]. - The board of directors has approved a profit distribution plan, which includes a capital reserve conversion of 2 shares for every 10 shares held [4]. - The company distributed a cash dividend of 1 yuan per 10 shares, totaling 10,000,000 yuan, which represents 18.01% of the net profit attributable to shareholders [146]. - The cash dividend for 2019 was 50,000,000 yuan, which accounted for 58.29% of the net profit attributable to shareholders for that year [146]. - The company has maintained a consistent cash dividend policy, with total cash dividends in 2020 being 10,000,000 yuan, and in 2019 being 50,000,000 yuan [146]. - The company’s cash dividend policy stipulates that the minimum proportion of cash dividends in profit distribution should reach 20% [147]. - The company’s board of directors has considered shareholder interests and business development needs in proposing the profit distribution plan [148]. - The remaining undistributed profit after the 2020 dividend distribution is 100,859,944.23 yuan, which will be carried forward to the next year [149]. Financial Performance - The company's operating revenue for 2020 was ¥584,194,761.01, a decrease of 4.21% compared to ¥609,897,588.40 in 2019 [19]. - The net profit attributable to shareholders for 2020 was ¥55,527,678.75, down 35.27% from ¥85,785,034.78 in 2019 [19]. - The net profit after deducting non-recurring gains and losses was ¥41,764,213.74, a decline of 50.64% from ¥84,606,390.46 in 2019 [19]. - The net cash flow from operating activities was ¥53,271,588.88, a decrease of 50.52% compared to ¥107,661,128.83 in 2019 [19]. - The total assets at the end of 2020 were ¥1,106,480,332.51, an increase of 77.75% from ¥622,496,095.84 at the end of 2019 [19]. - The net assets attributable to shareholders at the end of 2020 were ¥755,664,662.56, up 90.57% from ¥396,530,154.52 at the end of 2019 [19]. - The basic earnings per share for 2020 were ¥0.59, down 48.25% from ¥1.14 in 2019 [19]. - The company reported a significant decline in the weighted average return on net assets to 7.67% in 2020 from 23.88% in 2019, a drop of 16.21% [19]. Market Expansion and Product Development - The company is actively expanding its market presence and enhancing its product offerings in the mobile communication sector [10]. - The company aims to provide integrated solutions for clients in mobile communications, automotive, and consumer electronics sectors, focusing on high precision and quality products [28]. - The company has expanded its business scope to include research and manufacturing of communication equipment and special ceramic materials since March 2020 [18]. - The company is focusing on technological advancements in RF components, particularly for 4G/5G applications [11]. - The company has established subsidiaries in Mexico and the British Virgin Islands to support its international operations [9]. - The company has successfully developed new products in the mobile communication sector, including 4G/5G filter devices, and is expanding its production capabilities [67]. - The company aims to stabilize existing major customer sales while increasing efforts to develop new customers and projects in the automotive sector [70]. Research and Development - The company focuses on R&D driven by customer needs and market trends, with increased investment in functional ceramic products and applications in new fields [30]. - The company has been increasing its investment in R&D for 5G base station equipment and components, enhancing its overall R&D capabilities [43]. - Research and development expenses increased by 23.74% to approximately ¥30.16 million, accounting for 5.16% of total revenue, up from 4.00% in the previous year [92]. - The company plans to increase R&D investment in 5G filters and mobile communication antennas to expand its product offerings in the communication sector [117]. - The company plans to increase R&D investment and talent acquisition to establish a comprehensive R&D system, aiming to shorten the time for new product market introduction and enhance product value [126]. Risk Management - The company has highlighted the importance of risk management in its future operations, detailing potential risks and corresponding countermeasures [4]. - The company recognizes the risk of high customer concentration, with major clients in the mobile communication and automotive sectors, which could impact revenue if client procurement plans change [123]. - The company faces R&D risks, as its ability to innovate is crucial for product expansion and market competitiveness, particularly in the rapidly evolving communication and automotive sectors [125]. - The company faces risks from raw material price fluctuations, particularly for steel, copper, and aluminum, which could impact production costs and profits [127]. - The company has established a standardized quality management system to mitigate product quality risks, especially as it expands its operations and subsidiaries [128]. Operational Efficiency - The company is committed to continuous improvement in its financial performance and operational efficiency [4]. - The company aims to improve operational efficiency, reduce operational costs, and enhance profitability through various measures [152]. - The company adopts a "sales-driven production" model, which may lead to inventory pressure if market demand changes [133]. - The company has implemented measures to manage accounts receivable effectively, as the proportion of accounts receivable in current assets has been increasing [132]. Environmental and Social Responsibility - The company adheres to environmental regulations, ensuring that all waste emissions meet local standards without any major pollution incidents reported [181]. - The company has implemented a comprehensive human resources management system, ensuring timely payment of wages and social insurance for employees [183]. - The company actively engages in social responsibility, contributing CNY 1 million to support pandemic control efforts [186]. - The company’s environmental protection facilities are operating normally, with all emissions meeting regulatory standards [191]. Corporate Governance - The company has emphasized its commitment to maintaining accurate and complete financial reporting, ensuring transparency for investors [3]. - The company will ensure that the controlling shareholders do not interfere with the management activities of the issuer and do not harm the company's interests [152]. - The company has committed to compensating investors for losses caused by any false statements or omissions in its prospectus [152]. - The company will initiate a share repurchase program if any violations are recognized by the competent authorities [152]. - The company has established a commitment to ensure the accuracy of its prospectus and protect investor interests [152].