ST天龙(300029) - 2020 Q4 - 年度财报

Financial Performance - The net profit attributable to shareholders for 2020 was -31,816,828.50 CNY, a decrease in loss by 57.86% compared to the previous year[6]. - The company's operating revenue for 2020 was 112,525,653.50 CNY, representing a 554.72% increase from 17,186,793.43 CNY in 2019[21]. - The net cash flow from operating activities was -27,509,988.42 CNY, a decline of 142.27% compared to -11,354,957.87 CNY in 2019[21]. - The total assets at the end of 2020 amounted to 220,807,920.85 CNY, an increase of 126.92% from 97,306,531.79 CNY in 2019[21]. - The net assets attributable to shareholders decreased by 71.16% to 12,581,002.76 CNY from 43,622,575.37 CNY in 2019[21]. - The basic earnings per share for 2020 was -0.1591 CNY, an improvement of 57.86% from -0.3775 CNY in 2019[21]. - The company reported a net profit contribution of -1,575.71 million yuan from its subsidiary Changzhou Shengyou New Energy Equipment Manufacturing Co., Ltd.[74]. - The company incurred a loss of -1,193.07 million yuan from its subsidiary Sichuan Zhongshu Shilian Construction Engineering Co., Ltd.[74]. - The company reported a net profit available for distribution to ordinary shareholders of 0.00, with a cash dividend payout ratio of 0.00% for the year 2020[83]. - The company did not propose any cash dividend distribution plan despite having a positive net profit for the reporting period[84]. Strategic Focus and Operations - The company has shifted its strategic focus towards renewable energy projects, including solar and wind power, in response to national carbon neutrality goals[31]. - The company has made progress in its new energy power station development and related sales, but the sustainability of these operations remains uncertain[8]. - The company plans to enhance resource integration and provide comprehensive solutions across the renewable energy value chain to maximize profitability[31]. - The company plans to enhance investment in new energy projects and expand its operations in the new energy power station maintenance and value-added market[75]. - The company aims to integrate high-quality domestic and international resources to strengthen its core competitiveness in the new energy sector[75]. - The company is committed to becoming a leading enterprise in the new energy industry and fulfilling its corporate social responsibility[75]. - The company is actively promoting green energy development in response to national carbon neutrality goals[131]. Revenue and Business Segments - The specialized equipment manufacturing sector contributed CNY 48,039,402.56, accounting for 42.69% of total revenue in 2020[41]. - The construction sector generated CNY 64,486,250.94, representing 57.31% of total revenue, marking a new business area for the company[41]. - The company's revenue from the New Energy EPC engineering segment reached ¥64,486,250.94, accounting for 57.31% of total revenue, with a year-on-year increase of 100%[46]. - The revenue from the tower segment was ¥43,551,606.42, representing 38.70% of total revenue, with a year-on-year increase of 100%[46]. - The company reported a significant increase in revenue from the Northeast region, totaling ¥34,545,892.84, which is 30.70% of total revenue[47]. Operational Challenges - The company has encountered a risk of delisting due to negative net profit and operating revenue below 100 million CNY[7]. - The company reported a net cash flow from operating activities of CNY -11,050,576.29 in Q4 2020, indicating ongoing financial challenges[24]. - Non-recurring losses totaled CNY -12,085,626.22 for the year, reflecting challenges in managing non-operational income[28]. - The gross profit margin for the industrial sector decreased by 89.09% year-on-year, with revenue of ¥48,039,402.50 and cost of ¥46,299,061.20[46]. - The sales volume of photovoltaic equipment decreased by 45% year-on-year, indicating a significant reduction in production capacity[48]. Governance and Compliance - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties during the reporting period[85]. - The company guarantees not to engage in any business that competes with its main operations and to avoid any related party transactions that could harm the interests of its minority shareholders[86]. - The company will ensure compliance with relevant laws and regulations regarding related party transactions and information disclosure obligations[87]. - The company has committed to not utilizing its shareholder status to seek preferential treatment in business dealings with the listed company[88]. - The company has implemented strict measures to prevent any related party transactions that could harm the interests of minority shareholders[92]. - The company has ensured compliance with all relevant laws and regulations regarding related party transactions and has committed to fair pricing practices[93]. Human Resources and Management - The company has a total of 100 employees, with 60 in the parent company and 40 in major subsidiaries[176]. - The number of R&D personnel increased to 16 in 2020, representing 16.00% of the total workforce[60]. - The company has implemented a dynamic salary management system that aligns with performance, position, and company effectiveness[179]. - The company has a structured remuneration decision-making process involving the shareholders' meeting and the board of directors, based on performance and responsibilities[170]. - The company has seen a shift in its management team, with several key positions being filled by individuals with extensive experience in finance and project management[167][168]. Shareholder Structure - The total number of common shareholders at the end of the reporting period was 12,140, a decrease from 12,987 at the end of the previous month[142]. - The largest shareholder, Dayou Holdings Co., Ltd., held 12.80% of the shares, totaling 25,598,494 shares, with no change during the reporting period[144]. - The second largest shareholder, Changzhou Noah Technology Co., Ltd., held 11.89% of the shares, totaling 23,788,606 shares, with a decrease of 20,000 shares[144]. - The company does not have an actual controller, as no shareholder holds more than 25% of the shares, and there are no agreements among shareholders for joint action[147]. - The shareholder structure indicates a diverse ownership without significant concentration, which may reduce risks associated with control[147]. Legal and Audit Matters - The company received a qualified audit opinion for its 2019 financial report, primarily due to inventory impairment provisions related to Guangdong Bosen Technology Co., Ltd[96]. - The company is currently involved in several lawsuits, with a total amount of 2,012.4 million RMB in disputes, and has won a first-instance judgment in one case[109]. - The company has a pending judgment requiring it to pay 466.6 million RMB to Shanghai Chaori Solar Energy Co., Ltd. within 5 days of the judgment becoming effective[110]. - The company has appointed Zhongxing Caiguanghua Accounting Firm for auditing services, with a fee of 700,000 RMB and a continuous service period of 4 years[108].