Ledman(SZ:300162)2021-04-23 16:00Financial Performance - The company's operating revenue for 2020 was ¥818,833,110.50, a decrease of 15.31% compared to ¥966,897,140.76 in 2019[25]. - The net profit attributable to shareholders in 2020 was -¥315,540,892.51, representing a decline of 880.90% from a profit of ¥40,407,138.22 in 2019[25]. - The net cash flow from operating activities was -¥10,150,115.77 in 2020, a decrease of 125.31% compared to ¥40,110,631.55 in 2019[25]. - The total assets at the end of 2020 were ¥1,159,685,022.93, down 16.89% from ¥1,395,339,573.90 at the end of 2019[25]. - The net assets attributable to shareholders decreased by 34.13% to ¥600,629,074.50 at the end of 2020 from ¥911,861,177.73 at the end of 2019[25]. - The company reported a basic earnings per share of -¥0.90 in 2020, compared to ¥0.12 in 2019, marking an 850.00% decline[25]. - The company reported a total revenue of ¥818,833,110.50 in 2020, a decrease of 15.31% compared to ¥966,897,140.76 in 2019[81]. - Revenue from LED display products was ¥477,609,891.33, accounting for 58.33% of total revenue, down 10.75% from the previous year[81]. - The gross profit margin for LED products decreased to 21.51%, down 5.47% from the previous year[87]. - The company reported a negative retained earnings of RMB -315,540,892.5 for 2020, resulting in a cash dividend payout ratio of 0.00%[158]. Market and Product Development - Micro LED ultra-high-definition display business revenue increased by 47% year-on-year, with domestic market growth of 62%[6]. - The company plans to enhance its full range of LED product structure, focusing on ultra-high-definition display products as the core[6]. - The company is actively improving the operational situation of its wholly-owned subsidiary, Shenzhen Tuoxiang Technology Co., Ltd., which has over 90% of its revenue from overseas[7]. - The company plans to accelerate capacity release and ecological layout of Micro LED display products in various professional fields[6]. - The company focuses on the LED industry, particularly in the 8K ultra-high-definition display and lighting sectors, with a leading position in Micro LED technology[34]. - The company has established a comprehensive ecosystem of LED products and solutions, including the LEDHUB smart conference system and smart lighting solutions[34]. - The company aims to develop smart lighting and health lighting as key themes in 2020, with significant growth in UV LED and plant lighting segments[40]. - The company’s Micro LED products have been widely applied in various professional and commercial display fields, enhancing its market reputation[51]. - The company has established a comprehensive product ecosystem around COB technology, including Micro LED ultra-high-definition displays and smart lighting solutions[52]. - The company aims to achieve a brightness of over 7500 nits during the day for its lightweight LED glass curtain wall display technology[98]. Sales and Marketing Strategies - Increased domestic sales expenses due to the expansion of the domestic sales team and optimization of sales strategies[11]. - The company faced a decline in overseas sales orders and customer demand due to the global pandemic, resulting in a decrease in operating revenue[10]. - The company is leveraging online marketing strategies to promote its products due to reduced opportunities for physical exhibitions during the pandemic[68]. - The company is actively expanding its sales team and establishing showrooms in major cities, enhancing its presence in key regions and industries[66]. - The company’s LED lighting products experienced a recovery in orders in the second half of 2020, driven by domestic new infrastructure initiatives[40]. - The company’s business model includes direct sales and distribution, with a strategic alliance approach to high-quality customers[39]. Research and Development - The company has accumulated nearly 300 domestic patents, including 60 related to COB technology, establishing a complete independent intellectual property system[48]. - The company’s R&D expenses increased as it focused on developing new COB ultra-high-definition LED display technologies[56]. - Research and development expenses increased by 32.06% to ¥58.62 million, primarily due to increased personnel and material investments[96]. - The company has established a professional technical R&D team to continuously innovate in ultra-high-definition display technology, enhancing product competitiveness[71]. Financial Management and Investments - The company reported a net cash flow from financing activities of ¥90,385,303.88 in 2020, a significant increase of 428.08% year-on-year[101]. - Total cash and cash equivalents increased by ¥68,112,411.98 in 2020, compared to a decrease of ¥22,254,396.38 in 2019[101]. - The company has engaged in entrusted financial management during the reporting period[194]. - The company has a total of 20,678 million yuan in entrusted financial management, with an overdue amount of 1,270 million yuan[195]. - The company has invested 1,000 million yuan in a bank financial product with a return rate of 3.30%, which has been fully repaid[195]. Corporate Governance and Compliance - The company has established a three-year shareholder return plan (2020-2022) to enhance investor returns and promote long-term investment[153]. - The company is focusing on protecting its intellectual property and enhancing the quality of its core team to mitigate risks related to technology leaks and personnel turnover[147]. - The company has implemented a comprehensive internal epidemic prevention policy to ensure employee health and safety during the pandemic[148]. - The company has made commitments to maintain a clear separation between its operations and those of its affiliates to avoid conflicts of interest[161]. - The company has not faced any penalties or rectification issues during the reporting period[174]. Risks and Challenges - The company is exposed to risks related to international trade policies, exchange rate fluctuations, and intensified market competition[12]. - Increased market competition and technological innovation pose risks, necessitating continuous product development and service improvement[145]. - The expansion of business scale introduces operational management risks, requiring enhanced governance and internal control mechanisms[146].