Genbyte(SZ:003028)2021-04-19 16:00Financial Performance - The company reported a total revenue of RMB 109.6 million for the year 2020, marking a year-on-year increase of 15%[12]. - The company's operating revenue for 2020 was ¥994,186,704.54, representing a 42.74% increase compared to ¥696,521,329.21 in 2019[6]. - The net profit attributable to shareholders for 2020 was ¥173,659,921.78, a 50.03% increase from ¥115,751,974.41 in 2019[6]. - The net profit after deducting non-recurring gains and losses was ¥167,422,813.23, which is a 61.49% increase from ¥103,673,364.71 in 2019[6]. - The basic earnings per share for 2020 was ¥2.11, up 49.65% from ¥1.41 in 2019[6]. - The weighted average return on equity for 2020 was 42.00%, an increase of 10.61% from 31.39% in 2019[6]. - The company achieved a revenue of ¥994,186,704.54 in 2020, representing a year-on-year growth of 42.74%[43]. - Net profit attributable to shareholders reached ¥173,659,921.78, an increase of 50.03% compared to the previous year[43]. Dividend Distribution - The profit distribution plan approved by the board is to distribute a cash dividend of RMB 3 per 10 shares (including tax) to all shareholders, based on a total of 109,600,000 shares[4]. - The total distributable profit for shareholders was RMB 223,966,390.02, with a cash dividend distribution plan of RMB 3.00 per 10 shares, totaling RMB 32,880,000[99][103]. - The cash dividend for 2019 was RMB 11.20 per 10 shares, amounting to RMB 92,064,000, which represented 79.54% of the net profit[95][98]. - The cash dividend for 2018 was RMB 7.50 per 10 shares, totaling RMB 61,650,000, which accounted for 71.88% of the net profit[94][98]. - The company's cash dividend payout ratio for 2020 was 18.93% of the net profit attributable to shareholders[98]. Business Operations and Expansion - The company has established a wholly-owned subsidiary in Vietnam, named GENBYTE TECHNOLOGY (VIETNAM) COMPANY LIMITED, registered on January 24, 2021[9]. - The company has maintained its main business operations without any changes since its listing[16]. - The company has not reported any changes in its major business operations since its establishment[16]. - The company is actively expanding into the AIoT field, integrating core technologies such as image recognition and machine learning into its smart control products[27]. - The company plans to continue expanding into emerging markets and product applications, leveraging its stable customer base for sustained growth[38]. - The company plans to expand production capacity and global presence, particularly in Vietnam, Indonesia, and Thailand, to meet increasing market demand[82]. Research and Development - The company focuses on high-end intelligent controllers, variable frequency drives, digital power supplies, and smart IoT solutions, serving industries such as power tools, home appliances, and automotive electronics[26]. - The company has established a mature product technology system with core technologies in vector frequency control systems, refrigeration system control, high-voltage power supplies, and smart IoT, with several technologies at the industry-leading level[29]. - The company is committed to continuous innovation and R&D investment, focusing on high-tech, high-value-added, energy-saving, and environmentally friendly smart control products[32]. - The company's R&D investment totaled CNY 38,909,273.08, up 28.30% year-on-year, accounting for 3.91% of total revenue[60]. - Investment in R&D increased by 30% in 2020, focusing on developing new technologies and enhancing existing product lines[108]. Market Performance - The revenue from small household appliance control products grew by 62.22%, driven by rising consumer demand for innovative home appliances[44]. - Revenue from automotive electronic control products increased by 54.66%, expanding into vehicle-mounted variable frequency air conditioning and refrigerators[45]. - The revenue from power tool control products surged by 153.46%, reflecting deepening collaborations with global power tool manufacturers[45]. - The company reported a significant decline of 50.22% in revenue from large household and commercial appliance control products due to market downturns caused by the pandemic[44]. - Domestic revenue accounted for 51.26% of total revenue, while international revenue grew by 97.94%, making up 48.74% of total revenue[48]. Risk Management - The company does not foresee any significant risks affecting its normal operations, as stated in the report[4]. - The company faces risks related to fluctuations in downstream demand, which could impact profitability if market conditions change[87]. - The company is addressing potential management risks associated with rapid expansion by enhancing internal controls and management capabilities[88]. - The company is focused on maintaining high profit margins despite potential challenges from raw material price fluctuations and increased market competition[89]. Corporate Governance - The board of directors and senior management have confirmed the accuracy and completeness of the financial report for the year[3]. - The company has maintained a governance structure that complies with the requirements of the Company Law and Securities Law, holding 6 shareholder meetings during the reporting period[188]. - The board of directors consists of 5 members, including 2 independent directors, and has held 9 meetings during the reporting period[188]. - Independent directors attended all 9 board meetings and 6 shareholder meetings during the reporting period[195]. - The company has established independent operations in business, personnel, assets, institutions, and finance, ensuring no interference from the controlling shareholder[191]. Shareholder Information - The company raised a total of RMB 595,950,000 through the public offering of 27.4 million shares at a price of RMB 21.75 per share, with a net amount of RMB 560,186,226 after deducting issuance costs[34]. - The largest shareholder, Chen Zhijie, holds 27.59% of the shares, totaling 30,240,000 shares[158]. - The company’s stock was listed on the Shenzhen Stock Exchange on December 28, 2020, under the ticker "振邦智能" (003028)[153]. - The total number of shares for the cash dividend distribution plan in 2020 is based on 109,600,000 shares[99]. Employee Information - The total number of employees at the parent company is 1,165, with 866 in production, 39 in sales, 169 in technical roles, 17 in finance, and 74 in administration[183]. - The educational background of employees shows that there are 9 with a master's degree or above, 114 with a bachelor's degree, 201 with a college diploma, and 841 with less than a college education[183]. - The company has established a comprehensive salary policy that includes fixed salaries, performance bonuses, and welfare allowances, in compliance with national labor laws[184]. Future Outlook - The company expects a revenue growth forecast of 20% for the upcoming fiscal year, driven by new product launches and market expansion strategies[107]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on new product launches and market expansion strategies[110]. - The company aims to strengthen its core competitiveness through continuous R&D and innovation in AI, IoT, and machine vision technologies[84].