龙源技术(300105) - 2020 Q4 - 年度财报

Financial Performance - The net profit attributable to shareholders for 2018-2020 was 8.34 million, 13.98 million, and 9.80 million RMB respectively, while the net profit after deducting non-recurring gains and losses was -21.97 million, -24.10 million, and -18.10 million RMB[10]. - The company reported a decline in traditional business gross margins, indicating ongoing challenges in the competitive market[10]. - The company's operating revenue for 2020 was ¥458,294,143.63, a decrease of 10.72% compared to ¥513,336,356.69 in 2019[22]. - The net profit attributable to shareholders for 2020 was ¥9,795,659.02, down 29.95% from ¥13,983,044.70 in 2019[22]. - The total profit amounted to 9.91 million yuan, down 28.17% compared to the previous year[35]. - The company reported a basic earnings per share of ¥0.0191 for 2020, a decrease of 29.78% from ¥0.0272 in 2019[22]. - The company’s weighted average return on equity was 0.51% in 2020, down from 0.70% in 2019[22]. - The company reported a total revenue of 458.29 million yuan, a year-on-year decrease of 10.72%[35]. - The energy-saving segment generated revenue of 136.72 million yuan, a decrease of 21.23%[36]. - The environmental protection segment achieved revenue of 321.57 million yuan, down 5.35% year-on-year[36]. Investment and R&D - The company is committed to strengthening its innovation system and enhancing collaboration with research institutions to maintain its technological advantage[7]. - The company has secured new orders worth ¥25,590.39 million in the energy-saving and environmental protection engineering sector during the reporting period[60]. - The company’s research and development expenses increased by 14.71% to ¥41,419,683.61 in 2020 compared to ¥36,108,278.69 in 2019[67]. - The company invested CNY 63,726,112.47 in R&D in 2020, representing 13.91% of its operating revenue, an increase from 10.77% in 2019[71]. - The number of R&D personnel increased to 179 in 2020, accounting for 31.18% of the total workforce, up from 29.02% in 2019[71]. - The company is currently implementing several key R&D projects, including ultra-low NOx combustion technology, which is in the demonstration project phase[69]. - The company has established a comprehensive numerical simulation platform to provide advanced solutions for intelligent operation and flexible peak regulation of coal-fired units[95]. Market Strategy and Expansion - The company has established an overseas business department to implement its overseas strategy, focusing on projects in Zimbabwe, Turkey, and Indonesia[6]. - The company is actively expanding its plasma ignition and stable combustion technology applications, achieving demonstration projects with Shenhua Victory Power Plant and Ledong Power Plant[33]. - The company is expanding its market presence in non-electric sectors, targeting coal chemical, mining, steel, and cement industries for energy-saving and emission-reduction projects[96]. - The company plans to enhance its marketing strategy by focusing on LNG cold energy utilization and biomass co-firing technologies[96]. - The company anticipates an increase in the penetration and consumption ratio of renewable energy sources such as wind and solar power during the 14th Five-Year Plan period[94]. Corporate Governance and Compliance - The company has maintained compliance with all commitments made to minority shareholders[116]. - The company has not engaged in any competitive investments that would violate its commitments[115]. - The company has not reported any standard audit report issues for the recent period[118]. - The company has not undergone any bankruptcy restructuring during the reporting period[124]. - The company has not engaged in any high-risk financial management activities during the reporting period[142]. - The board of directors consists of 9 members, including 3 independent directors, and operates in accordance with legal regulations[200]. Shareholder Returns - The company will distribute a cash dividend of 1 RMB per 10 shares to all shareholders, with no bonus shares issued[11]. - The total cash dividend for 2020 was CNY 51,321,600, which accounted for 523.92% of the net profit attributable to ordinary shareholders[114]. - The company emphasizes a stable and continuous profit distribution policy, prioritizing cash dividends to ensure reasonable returns for investors[107]. Risk Management - The company has faced risks related to accounts receivable recovery due to pressures on major clients in the coal power sector, which may affect cash flow[8]. - The company's accounts receivable recovery remains under pressure due to significant challenges faced by major clients in the coal power sector, including high costs and declining electricity prices[101]. - The company is addressing the risk of market competition by expanding its application of plasma ignition and stable combustion technologies[99]. Social Responsibility and Sustainability - The company has actively participated in public welfare activities, showcasing its commitment to social responsibility[150]. - The company is focusing on sustainability initiatives, aiming to reduce carbon emissions by 25% over the next three years[183]. - The company has established a management mechanism for hazardous waste, ensuring proper handling and adherence to reduction and resource utilization principles[154]. Legal Matters - The company is involved in several legal disputes, with a total amount in litigation of approximately 3,500,000 RMB related to intellectual property infringement[127]. - The company has reached settlements in various disputes, including a payment of 240,180 RMB from Shandong Runyin Biochemical Co., Ltd., which is currently being executed[127].