经纬辉开(300120) - 2020 Q4 - 年度财报

Financial Performance - The company reported a total revenue of 464,478,294 RMB for the year 2020, with a cash dividend of 0.8 RMB per 10 shares distributed to shareholders[5]. - The company achieved operating revenue of ¥3,115,096,153.28 in 2020, representing a year-on-year increase of 33.56%[18]. - Net profit attributable to shareholders was ¥79,580,137.07, a decrease of 42.11% compared to the previous year[18]. - The net profit after deducting non-recurring gains and losses was ¥37,069,001.31, down 71.11% year-on-year[18]. - The company reported a negative net cash flow from operating activities of ¥56,910,780.76, a decline of 144.56% from the previous year[18]. - Basic and diluted earnings per share were both ¥0.1713, down 48.19% from the previous year[18]. - The company’s total operating revenue for the fourth quarter was ¥786,100,839.79, with a net profit of ¥1,756,815.65[20]. - The significant revenue growth was driven by the television module trade business, which generated sales of ¥89,401,980, an increase of ¥74,520,700 year-on-year[34]. - The company’s weighted average return on equity decreased to 3.22% from 6.52% in the previous year[18]. - The company reported a total revenue of 2,468.93 million with a net profit of 94.46 million, reflecting a profit margin of approximately 3.83%[98]. Market Expansion and Product Development - The company plans to expand its market presence and enhance its product offerings, focusing on new technologies and product development in the optoelectronic sector[5]. - The company continues to operate in dual main businesses (electricity + electronic information) without major changes in its main products[28]. - The company is focusing on high-end products in the electromagnetic wire industry, leveraging its core technology and market opportunities to enhance its industry position[39]. - The company is actively expanding into new technologies and product types in the electromagnetic wire sector, responding to increased demand from high-voltage projects[39]. - The company aims to become a leader in the outdoor display sector and the electromagnetic wire field, focusing on niche markets within these industries[105]. - The electronic information sector will see efforts to expand market share in outdoor display areas, including electronic license plates and sunlight screens, to solidify the company's leadership position[108]. Investment and Financial Strategy - The company invested approximately CNY 1 billion in the RF front-end module industry and plans to raise about CNY 1.3 billion through a private placement for further development[55]. - The company has ongoing significant non-equity investments, including ¥190,000,000 in touch display technology[87]. - The company plans to issue up to 139.34 million shares, raising a total of no more than 1.3 billion yuan for RF module chip R&D and working capital[183]. - The company has committed to an investment of 19,000 million yuan in its subsidiary, Changsha Yushun, with 100% of the investment completed by May 7, 2020[92]. - The company has established a strong market presence in the touch display industry, benefiting from a complete domestic supply chain and competitive pricing[37]. Challenges and Risks - The non-net profit decreased significantly due to the impact of the pandemic, resulting in a slight decline in sales revenue and overall sales prices of touch, display, and module products[35]. - The gross profit margin of touch, display, and module products declined significantly due to a substantial increase in the prices of key raw materials, particularly panels[35]. - The company faced challenges such as increased raw material costs and tariffs, which negatively impacted profit margins, particularly in the touch and display product lines[54]. - The company faces significant risks from macroeconomic factors, particularly due to its high revenue dependency on exports to the U.S., which could be affected by trade tensions and economic fluctuations[110]. - The competitive landscape in the touch display industry is intensifying, with increased production capacity and technological advancements from competitors potentially impacting the company's market position[111]. Shareholder Returns and Dividends - The board of directors has approved a profit distribution plan, indicating a commitment to returning value to shareholders while maintaining capital for growth initiatives[5]. - The company reported a cash dividend of 0.8 yuan per 10 shares, totaling 37,158,263.52 yuan, which accounts for 43.33% of the total distributable profit of 85,747,373.98 yuan[121]. - The cash dividend payout ratio for 2020 was 46.69% of the net profit attributable to shareholders[125]. - The company has consistently provided cash dividends over the past three years, reflecting a commitment to shareholder returns[125]. - The total cash dividends distributed in 2020 were 37,158,263.52 yuan, which is a decrease from the previous year's distribution[125]. Corporate Governance and Compliance - The company has committed to not engaging in any business that directly or indirectly competes with its main operations[130]. - The company has not reached any arrangements or agreements regarding the divestiture of its existing business and assets with the transaction counterparties[128]. - The company has committed to ensuring that any related transactions do not harm the legal rights of the listed company and its shareholders[131]. - The company has maintained a continuous relationship with the auditing firm Xinyong Zhonghe for 12 years, with an audit fee of 910,000 RMB[138]. - The company has not reported any major litigation or arbitration matters during the reporting period[139]. Research and Development - Research and development expenses for the year were ¥83,272,492.06, representing an increase of 4.79% from 2019[76]. - The number of R&D personnel was 365, representing 14.60% of the total workforce[77]. - Increased investment in R&D and technology innovation is prioritized to accelerate new product development and upgrade, consolidating the company's leading position in LCD displays, touch screens, electromagnetic wires, and reactors[109]. Social Responsibility and Environmental Compliance - The company has actively fulfilled its social responsibilities while creating value for shareholders[174]. - The company donated 1 million yuan to support COVID-19 prevention efforts in hospitals located in areas where it operates[179]. - The company does not belong to the list of key pollutant discharge units and adheres to environmental protection laws[181]. - The company has implemented effective measures for waste gas, wastewater, noise, and solid waste management during production[182]. - The company emphasizes employee rights protection and adheres to labor laws, ensuring a safe and healthy work environment[178].