LZJT(SZ:300428)2021-04-25 16:00Financial Performance - The company reported a total revenue of 599,753,858 RMB for the year 2020, with a cash dividend of 0.84 RMB per 10 shares distributed to shareholders[6]. - The company's operating revenue for 2020 was ¥13,391,595,979.21, a decrease of 2.00% compared to the adjusted revenue of ¥13,664,501,693.57 in 2019[25]. - The net profit attributable to shareholders for 2020 was ¥432,572,332.67, representing a decline of 27.59% from the adjusted net profit of ¥597,370,821.50 in 2019[25]. - The net cash flow from operating activities for 2020 was ¥362,572,860.91, down 45.89% from ¥670,084,975.71 in 2019[25]. - The basic earnings per share for 2020 was ¥0.75, a decrease of 29.25% compared to ¥1.06 in 2019[25]. - The company's total profit for 2020 was CNY 575,002,952.00, down 27.97% year-on-year, while net profit attributable to shareholders was CNY 432,572,332.67, a decline of 27.59%[68]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the fiscal year, representing a 15% year-over-year growth[190]. Market Expansion and Strategy - The company plans to expand its market presence and enhance its product offerings, focusing on new alloy materials and recycling technologies[6]. - The company plans to continue its market expansion and product development strategies in the upcoming fiscal year[26]. - The company positions itself as a global supplier of lightweight alloy new materials and automotive lightweight components, focusing on three main business segments: functional intermediate alloy new materials, cast aluminum alloy materials, and aluminum alloy wheels[37]. - The company is actively expanding its lightweight aluminum alloy wheel business, particularly in the new energy vehicle sector, and has developed high-strength lightweight aluminum alloy wheels to meet commercial vehicle demands[40]. - The company aims to enhance its product technology and industry integration through overseas acquisitions and independent research and development, achieving international leading technical standards and increasing market share[47]. - The company is expanding its production capacity with projects for 2.6 million lightweight casting aluminum alloy wheels and 1.4 million high-strength aluminum suspension components, resulting in a 42.24% increase in construction projects year-on-year[52]. - The company is actively considering new projects and strategies to adapt to the changing market environment and enhance operational efficiency[136]. Research and Development - The company has established eight major R&D platforms, including a national-level enterprise technology center and provincial engineering technology research centers, enhancing its R&D capabilities[61]. - The company has developed a high-end grain refining agent, Optifine, with a gross margin of approximately 40%, which is expected to positively impact profitability[69]. - The company is increasing R&D efforts in recycled aluminum materials and aims to enhance brand market influence while optimizing the industrial chain[151]. - The number of R&D personnel increased to 1,462, accounting for 16.81% of the total workforce[105]. Production and Capacity - The company produced 74.54 million tons of casting aluminum alloy in 2020, with recycled aluminum alloy production reaching 46.16 million tons, marking a year-on-year increase of 6.8%[50]. - The company’s aluminum alloy wheels production capacity is 18 million units, with a mold production capacity of 1,200 sets, positioning it as a leading supplier in the industry[58]. - The company is focusing on expanding its production capacity in Thailand and Mexico, while upgrading existing production lines to achieve automation and maximize production efficiency[152]. Shareholder Returns and Dividends - The board of directors has approved a profit distribution plan, indicating a commitment to returning value to shareholders while maintaining growth strategies[6]. - The company distributed a cash dividend of RMB 0.84 per 10 shares, totaling RMB 50,379,324.07, which represents 100% of the distributable profit[160]. - The cash dividend for 2020 accounts for 11.65% of the net profit attributable to shareholders, compared to 8.42% in 2019 and 12.90% in 2018[163]. - The company has not proposed any cash dividend distribution plan for the current reporting period despite having positive distributable profits[164]. Acquisitions and Investments - The company completed the acquisition of the controlling assets of Lichong Alloy, enhancing its complete industrial chain in functional intermediate alloy materials, casting aluminum alloy materials, and aluminum alloy wheels[68]. - The company has committed to invest a total of RMB 88 million in various projects, with an adjusted total investment of RMB 49.06 million[129]. - The company achieved a net profit attributable to shareholders of 69.6 million CNY from the acquisition of Tianjin Xinlizhong Alloy Group Co., Ltd. through cash purchase[146]. - The company reported a net profit attributable to shareholders of 57.3 million CNY from the acquisition of Hebei Xinlizhong Nonferrous Metal Group Co., Ltd. through cash purchase[146]. Risk Management - The company faces risks from raw material price fluctuations, exchange rate volatility, and changes in the international trade environment, and is implementing measures to mitigate these risks[153][154]. - The company has established measures to compensate for any dilution of immediate returns, ensuring compliance with regulatory requirements from the China Securities Regulatory Commission and Shenzhen Stock Exchange[179]. Compliance and Governance - The company has maintained a strong commitment to corporate governance, ensuring transparency and accountability in all operations[197]. - The company is focused on maintaining transparency and accountability in its operations, inviting oversight from regulatory bodies and the public[182]. - The company has confirmed that all commitments made are legally binding and will be enforced to protect shareholder interests[182].