Huijin(SZ:300368)2021-04-20 16:00Financial Performance - The company's operating revenue for 2020 was ¥1,359,149,249.46, representing a 60.56% increase compared to ¥846,521,153.95 in 2019[20]. - The net profit attributable to shareholders for 2020 was ¥64,525,836.24, up 44.65% from ¥44,607,320.75 in 2019[20]. - The net profit after deducting non-recurring gains and losses was ¥48,855,547.72, a 50.36% increase from ¥32,492,104.27 in 2019[20]. - The total assets at the end of 2020 reached ¥3,537,860,713.77, an 80.24% increase from ¥1,962,911,167.04 at the end of 2019[21]. - The basic earnings per share for 2020 was ¥0.1213, reflecting a 44.58% increase from ¥0.0839 in 2019[21]. - The company reported a net cash flow from operating activities of -¥435,227,337.27, which is a 223.87% decline compared to -¥134,384,799.82 in 2019[20]. - The total operating revenue for 2020 was 1,359,149,249.46 CNY, representing a 60.56% increase compared to 846,521,153.95 CNY in 2019[72]. - The company achieved a net profit of CNY 18,253,905.22 for the year 2020, with distributable profits amounting to CNY 159,140,429.53[139]. Dividend Distribution - The company plans to distribute a cash dividend of 0.17 yuan per 10 shares (including tax) based on a total of 528,943,475 shares, with no bonus shares issued[8]. - A cash dividend of CNY 0.17 per share (including tax) was distributed, totaling CNY 8,992,039.08, which represents 20.99% of the total profit distribution[138]. - The total cash dividend, including other methods, reached CNY 33,401,506.40, accounting for 51.76% of the consolidated net profit for 2020[144]. - The company will not conduct capital reserve transfers or issue bonus shares for the 2020 fiscal year[140]. Business Expansion and Strategy - The company is expanding into new business areas such as smart manufacturing, data centers, and supply chain management, but faces uncertainty regarding market acceptance and industry understanding[6]. - The company is focusing on expanding its non-banking business areas, including new retail self-service terminals and government self-service terminals[32]. - The company aims to enhance its technology research and development capabilities to support its expansion into non-banking sectors[32]. - The company is actively pursuing financial system reforms and innovations in service models, which may affect traditional banking operations[6]. - The company aims to transition from subcontractor to general contractor in data center operations, enhancing its service capabilities[34]. - The company is focusing on expanding its supply chain services, leveraging resources and data advantages to improve operational efficiency[34]. - The company plans to enhance its data center operations, leveraging its expertise to transition from subcontractor to general contractor in digital engineering and data center operations[63]. - The company plans to implement a development strategy focusing on "one body, two wings, and one cornerstone," emphasizing industrial internet, intelligent manufacturing, and data center construction[128]. Research and Development - The company has achieved significant R&D results, with many protected by patents and software copyrights, but risks exist regarding technology leakage and loss of core technical personnel[8]. - The company has invested in the development of a smart document management system, which can be applied in various sectors such as courts, tax authorities, banks, hospitals, and public security[32]. - The company is investing in R&D for intelligent financial self-service devices, enhancing its competitive edge in the banking sector[35]. - The company has established itself as a high-tech enterprise with recognized R&D capabilities, enhancing its innovation potential[40]. - The company’s R&D investment in 2020 amounted to ¥28,324,463.75, representing 2.08% of its operating revenue[98]. - The number of R&D personnel decreased to 108 in 2020, accounting for 10.94% of the total workforce[98]. Financial Risks and Liabilities - The company's goodwill net value in the consolidated financial statements is 352.1249 million yuan, indicating a risk of impairment if the integration of acquired companies is not effective[5]. - The company acknowledges risks related to declining demand for cash-related products due to the rise of financial technology, which may impact profit margins[6]. - The company has recognized a credit impairment loss of -21,728,387.39, which is -13.17% of total revenue, mainly from bad debt provisions[107]. - The company has no significant expected liabilities arising from ongoing litigation[188]. Asset Management - The company's cash and cash equivalents rose by 90.59% to CNY 303.56 million, primarily due to increased bank loans and borrowings[38]. - Accounts receivable increased by 136.00% to CNY 1,228.74 million, attributed to higher sales and outstanding payments[39]. - The company's inventory grew by 162.06% to CNY 415.32 million, driven by increased contract performance costs in data center projects[39]. - The company's fixed assets increased by 89.46% to CNY 432.34 million due to the acquisition of fixed assets by its subsidiary[38]. - The total amount of accounts receivable increased to 1,228,743,492, representing 34.73% of total assets, up from 26.30% in the previous year, due to increased sales[109]. - Inventory rose to 415,319,798.7, making up 11.74% of total assets, an increase attributed to contract performance costs from subsidiaries[109]. Corporate Governance and Compliance - The company has established a comprehensive communication strategy with stakeholders to ensure transparency and effective information dissemination[19]. - The company will ensure that the financial statements comply with accounting standards and will be audited by a qualified accounting firm[157]. - The company has implemented an employee stock ownership plan and stock incentive plan to enhance employee engagement[193]. - The integrity status of the company and its controlling shareholders remained good, with no significant debts unpaid[192]. - The company did not experience any changes in the scope of consolidated financial statements compared to the previous year[184]. Legal and Regulatory Matters - The company is involved in several legal disputes, including a contract dispute with Guizhou Rongxin Technology Development Co., Ltd., which is currently pending mediation[189]. - There were significant litigation matters, including a case involving a claim of CNY 470,000 related to a sales dispute, which has been settled[188]. - The audit firm, Zhongqin Wanxin, has been engaged for 10 consecutive years, with an audit fee of CNY 1.10 million for the current period[185]. Performance Commitments - The company has made commitments regarding the performance of its subsidiaries, ensuring accountability for net profit shortfalls[156]. - The performance commitment period for Hebei Zhaohong is for the years 2019, 2020, and 2021[156]. - The performance commitments for Zhongke Tuoda are subject to annual audits by a qualified accounting firm[170]. - The cumulative compensation amount for performance commitments will be calculated based on the formula: (Cumulative committed net profit - Cumulative realized net profit) / Cumulative committed net profit * Transaction price[161].