COOLTECH POWER(SZ:300153)2021-04-27 16:00Financial Performance - The company experienced a significant decline in revenue due to project delays caused by the pandemic, resulting in a loss for the year 2020[4]. - The company's operating revenue for 2020 was ¥702,130,777.96, a decrease of 32.98% compared to ¥1,047,590,309.86 in 2019[24]. - The net profit attributable to shareholders was -¥170,449,932.75 in 2020, representing a decline of 5,261.98% from ¥3,302,027.33 in 2019[24]. - The net cash flow from operating activities was -¥31,198,803.08, a decrease of 223.88% compared to ¥25,184,161.67 in 2019[24]. - The total assets at the end of 2020 were ¥1,241,892,184.92, down 25.00% from ¥1,655,906,916.29 at the end of 2019[24]. - The company's net assets attributable to shareholders decreased by 19.85% to ¥755,595,291.29 in 2020 from ¥942,727,073.10 in 2019[24]. - The basic earnings per share for 2020 was -¥0.5327, a decline of 5,271.84% from ¥0.0103 in 2019[24]. - The company incurred a non-operating loss of -¥7,327,158.17 in 2020, compared to a gain of ¥31,804,884.60 in 2019[30]. - The total revenue for the year 2020 was approximately ¥702.13 million, representing a decrease of 32.98% compared to ¥1,047.59 million in 2019[66]. - The communication industry accounted for 57.33% of total revenue, with a revenue of ¥402.54 million, down 10.74% from the previous year[66]. - The revenue from the new energy vehicle sector was ¥14.08 million, a decline of 36.96% from ¥22.34 million in 2019[66]. - The company reported a significant reduction in operating costs, totaling ¥618.59 million, down 26.10% from ¥837.10 million in 2019[72]. Strategic Focus and Business Development - The company plans to focus on providing a comprehensive range of products and services, including generator sets, distribution cabinets, and engineering installation, to enhance its market position[6]. - The company aims to expand into new energy sectors such as biogas and energy storage, which are expected to provide new business opportunities and improve overall performance[6]. - The company is actively developing storage products in collaboration with various manufacturers to mitigate risks associated with technological advancements in fuel cells and energy storage[9]. - The company is focusing on the power equipment sector while adjusting its new energy business[34]. - The company aims to expand its core business around generator products, with supporting distribution and transmission products[34]. - The company plans to shift its focus to the energy storage sector, leveraging its gas generator and hybrid energy products in response to industry changes[41]. - The company plans to focus on its core energy business and expand into new energy sectors such as biogas and energy storage, aiming to enhance its capabilities in engineering installation and after-market services[105]. - The company aims to transition from a product manufacturer to a comprehensive energy system solution provider, leveraging its main business advantages[105]. - The company will actively seek new business directions and investment opportunities to support long-term sustainable development through both organic growth and external investments[105]. - The company anticipates significant growth opportunities in the domestic market, driven by investments exceeding 21 trillion yuan in key projects such as semiconductors, 5G base stations, and industrial internet[108]. - The IDC data center market is expected to boost the company's sales of high-power units due to the increasing demand for data storage and cloud computing from major internet companies like Alibaba and Tencent[108]. - The company aims to leverage its brand advantage in the power industry, with a projected compound annual growth rate of around 4% in nuclear power capacity, leading to increased demand for backup power solutions[110]. - The company sees potential in overseas markets, particularly in regions like the Middle East and Southeast Asia, where infrastructure development will increase the demand for mobile and backup power solutions[112]. Operational Efficiency and Risk Management - The company is implementing full-process management to enhance operational efficiency and improve profitability[6]. - The company acknowledges risks related to macroeconomic conditions that could impact the demand for generator sets, and plans to diversify its business structure to mitigate these risks[7]. - The company has faced challenges in its investment projects due to economic slowdown and industry cycles, which have increased pressure on overall performance[11]. - The company is committed to closely monitoring the operational status of its investment projects to minimize potential negative impacts on its financial performance[12]. - The company has implemented risk control measures to manage accounts receivable, including the introduction of credit insurance to mitigate export risks[59]. - The company recognizes risks related to macroeconomic conditions, product substitution, and customer industry concentration, and will diversify its business structure to mitigate these risks[135][136][137]. - The company will closely monitor investment project performance to manage risks associated with economic slowdown and industry cycles, aiming to minimize negative impacts on overall performance[138]. Market Presence and Brand Development - The company has established a strong brand presence in key industries such as communication, IDC, and high-end manufacturing, achieving a high market share in the backup power supply sector[44]. - The company has registered trademarks in 13 countries and regions overseas, enhancing brand protection and supporting international development[45]. - The company’s products are characterized by standardization, intelligence, environmental friendliness, and high quality, ensuring stable and reliable product performance[46]. - The company is actively participating in the 5G infrastructure development, with over 700,000 5G base stations established in China, driving demand for backup power and distribution products[38]. - The company plans to enhance its engineering installation and after-market service capabilities to transition from a product manufacturer to a comprehensive energy system solution provider[114]. - The after-market service sector is expected to grow due to the increasing demand for inspection, maintenance, and repair services as the company's product market share expands[113]. Shareholder and Governance Matters - The company proposed a cash dividend of RMB 0.3 per 10 shares, totaling RMB 9.6 million for the 2019 fiscal year[142]. - As of December 31, 2020, the company's available distributable profit was -RMB 130.42 million, leading to no cash dividends or stock bonuses for 2020[144]. - The capital reserve balance as of December 31, 2020, was RMB 494.64 million, with no capital reserve conversion to share capital planned for 2020[144]. - The cash dividend distribution policy was compliant with the company's articles of association and shareholder resolutions[143]. - The independent directors fulfilled their responsibilities and ensured the protection of minority shareholders' rights during the dividend distribution process[143]. - The company reported a commitment to avoid competition with its subsidiaries and to reduce related party transactions, ensuring compliance from major shareholders[149]. - Major shareholders, including the actual controllers, have committed to not engage in any competitive activities with the company or its subsidiaries, with a promise to compensate for any economic losses incurred due to violations[150]. - The company has established social security and housing fund accounts in its registered location, ensuring no overdue or underpayment issues will arise in the future[150]. - The company guarantees that it will fully bear any penalties or losses resulting from late or insufficient payment of employee housing funds[150]. - The company has a long-term commitment from its major shareholders to adhere to the promises made regarding competition and related party transactions[149]. Subsidiaries and Investments - Major subsidiaries contributing over 10% to net profit include 科泰能源（香港）有限公司 and 上海科泰电源销售有限公司, with respective revenues of ¥107,489,298 and ¥4,230,506.49[96]. - The company has committed to not making additional investments in Shanghai Qingpu Small Loan Co., Ltd. and has adhered to this commitment[152]. - The company has not engaged in any significant litigation or arbitration matters during the reporting period[157]. - The consolidated financial statements include 13 subsidiaries, with the recent reduction of two subsidiaries due to equity transfer completed on March 31, 2020[155]. Corporate Governance and Compliance - The company has maintained a continuous audit relationship with the accounting firm for 14 years, with an audit fee of 700,000 RMB[156]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[153]. - The company has not faced any penalties or rectification situations during the reporting period[158]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period[159]. - The company has not reported any changes in its actual controllers during the reporting period[192]. - The company has not entered into any agreements that would restrict the reduction of shares held by its controlling shareholders or actual controllers[193].