TES(SZ:003019)2021-04-12 16:00Financial Performance - The company's operating revenue for 2020 was ¥1,193,656,060.29, a decrease of 9.71% compared to ¥1,322,026,162.28 in 2019[19]. - The net profit attributable to shareholders for 2020 was ¥111,183,753.54, down 24.43% from ¥147,135,010.79 in 2019[19]. - The net cash flow from operating activities decreased by 40.29% to ¥90,686,425.42 in 2020 from ¥151,873,114.33 in 2019[19]. - The company's total revenue for 2020 was CNY 1,193.66 million, a decrease of 9.71% compared to CNY 1,322.03 million in 2019[59]. - The net profit attributable to shareholders was CNY 111.18 million, down 24.43% year-on-year, while the net profit excluding non-recurring items was CNY 100.68 million, a decrease of 23.32%[59]. - The revenue from smart interactive displays was CNY 621.25 million, accounting for 52.05% of total revenue, reflecting a decline of 25.33% from CNY 831.98 million in 2019[70]. - The revenue from smart interactive all-in-one machines increased by 11.12% to CNY 404.05 million, representing 33.85% of total revenue[70]. Shareholder Information - The company reported a profit distribution plan based on 128,000,000 shares, proposing a cash dividend of 4.3 RMB per 10 shares (including tax) with no bonus shares[5]. - The cash dividend distribution represents 49.50% of the net profit attributable to ordinary shareholders for 2020[132]. - The company has maintained a consistent cash dividend policy over the past three years, with no adjustments made to the profit distribution policy[130]. - The total number of shares for the cash dividend distribution in 2020 is based on 12.8 million shares[134]. - The company has not proposed any stock dividends or capital reserve transfers during the reporting period[134]. - The company’s cash dividend for 2019 was 7.5 RMB per 10 shares, totaling 72 million RMB[131]. - The company’s cash dividend for 2018 was 6.2 RMB per 10 shares, totaling 59.52 million RMB[131]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements and does not guarantee future performance[5]. - The company has no significant risks affecting its normal operations as of the report date[5]. - The company faces risks from fluctuations in downstream industry demand, particularly in sectors like retail and finance, which could impact profitability if demand slows[117]. - The company has a high customer concentration risk, with the top five customers accounting for 73.30% of revenue in 2020, which could pose challenges if major clients reduce orders[118]. - The company reported foreign exchange losses due to RMB/USD fluctuations, with losses of -8.24 million, -0.97 million, and 1.15 million from 2018 to 2020, affecting overall profitability[121]. - The company’s export revenue accounted for 97.12% in 2020, making it vulnerable to changes in export tax rebate policies that could impact profitability[123]. Corporate Governance - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and senior management[4]. - The company has appointed Lixin Accounting Firm as its auditor, with an audit fee of 500,000 RMB and a continuous service period of 4 years[145]. - The company has not experienced any significant accounting errors that require retrospective restatement during the reporting period[143]. - The company has not made any changes to the scope of the consolidated financial statements compared to the previous year[144]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[148]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period[150]. Product Development and Innovation - The company focuses on customized commercial interactive display devices, with applications in various sectors including retail, finance, and healthcare[28]. - The company plans to expand its product applications to include large-scale remote office meeting systems and smart fitness equipment[34]. - The company has established a robust supplier management system to ensure the quality of raw materials[36]. - The company has established a comprehensive advantage in the commercial smart interactive display device manufacturing industry, providing customized and diversified product solutions across various sectors, including retail, finance, and healthcare[42]. - The company has a strong product integration design capability, allowing for high compatibility of smart interaction, display, and software applications, meeting diverse customer needs[43]. - The automated optical inspection (AOI) equipment achieves a recognition rate of over 97% for detecting soldering conditions on electronic circuit boards, significantly enhancing production efficiency[44]. - The company has enhanced its product development by introducing new technologies, such as AirTouch technology and UV sterilization devices, to adapt to market needs during the pandemic[62][63]. - The acquisition of 3M's MicroTouch brand will expand the company's product offerings in touch systems and displays, enhancing service efficiency and flexibility[65]. - The company plans to introduce 3D printers and 3D scanners to enhance product development efficiency and meet customer customization needs, significantly improving the design phase's intelligence level[111]. Market Strategy and Expansion - The company aims to expand into emerging product application fields globally, anticipating increased order volumes and rapid performance growth due to rising market demand[48]. - The company has set up subsidiaries and offices in various locations, including the United States and Japan, to support its international sales and service efforts[49]. - The company plans to strengthen its domestic market expansion, as the demand for commercial smart interactive display devices is increasing significantly in mainland China[108]. - The company intends to implement intelligent manufacturing in R&D and design processes to improve efficiency and responsiveness to market demands[110]. Social Responsibility and Compliance - The company actively fulfills its social responsibilities while creating value for shareholders and other stakeholders[164]. - The company has donated RMB 1 million to support social welfare initiatives during the COVID-19 pandemic, demonstrating its commitment to social responsibility[171]. - The company has established a robust safety and environmental management system, certified by OHSAS 18001:2007, to ensure workplace safety and environmental protection[169]. - The company is not classified as a key pollutant discharge unit by environmental protection authorities, indicating compliance with environmental regulations[173]. Share Structure and Ownership - The total number of shares increased from 96 million to 128 million after the issuance of 32 million new shares, representing a 33.33% increase in total shares[178]. - The largest shareholder, IPC Management Limited, holds 31.06% of the shares, totaling 39,750,400 shares[183]. - The company has a total of 25,695 shareholders at the end of the reporting period[183]. - The actual controller, Chiang Michael Chao-Juei, is a Canadian national with extensive experience in the electronics industry[187]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[185][187]. - The company has maintained stable shareholding structures with no significant changes in the ownership of directors and senior management[197].