JT(SZ:300400)2021-04-15 16:00Financial Performance - The company's operating revenue for 2020 was approximately CNY 883.80 million, representing a 78.41% increase compared to CNY 495.39 million in 2019[18]. - The net profit attributable to shareholders for 2020 was approximately CNY 122.74 million, a significant increase of 443.74% from CNY 22.57 million in 2019[18]. - The net profit after deducting non-recurring gains and losses reached approximately CNY 108.65 million, up 1176.05% from CNY 8.51 million in 2019[18]. - The net cash flow from operating activities was approximately CNY 262.34 million, a remarkable increase of 945.75% compared to a negative cash flow of CNY 31.02 million in 2019[18]. - The total assets at the end of 2020 were approximately CNY 1.18 billion, reflecting a 10.47% increase from CNY 1.07 billion at the end of 2019[18]. - The company's basic earnings per share for 2020 was CNY 0.52, representing a 420% increase from CNY 0.10 in 2019[18]. - The weighted average return on equity for 2020 was 20.71%, up from 4.03% in 2019, indicating improved profitability[18]. - The total operating revenue for 2020 was CNY 883,796,809.80, representing a year-on-year increase of 78.41% compared to CNY 495,387,014.88 in 2019[68]. - The main business revenue from the industrial sector was CNY 859,689,969.64, accounting for 97.27% of total revenue, with a year-on-year growth of 82.33%[68]. - The total operating cost for 2020 was CNY 589,033,141.70, reflecting a year-on-year increase of 90.98%[73]. Product Development and Innovation - The company is focusing on product development and customization to meet diverse customer needs and expand revenue sources[4]. - The company has developed intelligent machine vision inspection equipment for detecting solder joints and components on PCBs, enhancing quality control in the SMT production line[32]. - The company has expanded into the production of specialized equipment for optical display modules (TP/LCD/OLED), targeting major panel manufacturers and module producers[33]. - The 3D lamination equipment is designed for flexible OLED screens and curved glass bonding, showcasing the company's innovation in display technology[34]. - New product innovations, including vacuum reflow soldering and nitrogen wave soldering equipment, contributed to sales growth in the reporting period[41]. - The company successfully developed and launched several high-performance products, including vacuum reflow soldering and 3D-Lami bonding equipment, contributing to revenue growth[55]. - The company aims to enhance its product offerings by integrating advanced technologies in its manufacturing processes, ensuring competitiveness in the market[34]. Market and Economic Conditions - The company acknowledges significant risks from macroeconomic slowdown and international trade protectionism affecting its operations[4]. - The company is facing risks from macroeconomic slowdown and market competition, leading to potential challenges in maintaining sales and profit margins[116][117]. - Strong demand for domestic equipment replacement was driven by supply chain disruptions and international trade protectionism[41]. - The company benefited from a surge in orders due to industry consolidation and increased demand for domestic equipment, particularly after the pandemic[40]. Operational Efficiency and Management - The company is implementing a "quality improvement and cost reduction" initiative to strengthen management and control costs in response to economic risks[4]. - The company implemented lean management practices, improving overall operational efficiency and productivity[42]. - The company has established a mature production system, enabling quick response and short delivery times, enhancing its competitive edge[49]. - The company is enhancing its management capabilities to adapt to the complexities arising from its business expansion and new facility operations[119]. - The company is investing in training and communication between sales and R&D teams to keep pace with rapid technological advancements in the industry[118]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares, totaling RMB 23,966,498.00, which represents 100% of the distributable profit[127]. - The company has committed to distributing at least 15% of the distributable profit as cash dividends annually, unless certain conditions are met, such as net profit being below RMB 10 million[134]. - The company reported a net profit attributable to ordinary shareholders of RMB 122,738,020.79 for the year 2020[131]. - In 2019, the company did not distribute cash dividends but repurchased 5,921,640 shares for a total amount of RMB 100,238,265.75, which equated to 444.07% of the net profit attributable to ordinary shareholders[131]. Research and Development - The company holds 85 software copyrights and 160 patents, including 33 invention patents, showcasing its commitment to R&D and innovation[48]. - The company has maintained a stable R&D personnel ratio at approximately 16.12% of total employees, with 177 R&D staff in 2020[83]. - Research and development expenses amounted to 45.47 million yuan, representing 5.15% of operating revenue, a decrease from 11.10% in the previous year[83]. Corporate Governance and Compliance - The company has established a comprehensive internal control system to protect shareholder and investor rights, ensuring timely and accurate information disclosure[186]. - The company has not engaged in any non-operating fund occupation by its controlling shareholders or related parties during the reporting period[135]. - The company has not issued any non-standard audit reports during the reporting period[136]. - The company has implemented changes in accounting policies in accordance with the revised accounting standards effective from January 1, 2020[136]. Social Responsibility and Employee Welfare - The company has engaged in social responsibility by donating to the construction of six Hope Primary Schools in Guizhou Province[190]. - The company has established a "Big Disease Assistance" mechanism to provide medical aid to employees in need, enhancing employee welfare and support[187]. - The company has implemented a talent strategy focusing on employee development and has provided necessary labor protection and health measures, including annual free health check-ups[187].