TANAC(SZ:300461)2021-03-29 16:00Financial Performance - The company's operating revenue for 2020 was ¥363,765,918.39, a decrease of 27.69% compared to ¥503,061,565.12 in 2019[20]. - The net profit attributable to shareholders for 2020 was ¥85,519,649.74, representing a significant increase of 143.51% from a loss of ¥196,532,267.86 in 2019[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥33,874,555.05, up 129.61% from a loss of ¥114,417,937.31 in the previous year[20]. - The net cash flow from operating activities was ¥14,254,096.50, down 44.87% from ¥25,853,251.41 in 2019[20]. - Basic earnings per share for 2020 were ¥0.70, compared to a loss of ¥1.59 per share in 2019, marking a 144.03% improvement[20]. - The total assets at the end of 2020 were ¥567,713,788.47, an increase of 17.06% from ¥484,985,218.59 at the end of 2019[20]. - The net assets attributable to shareholders increased by 406.78% to ¥146,280,871.87 from ¥28,864,498.25 in 2019[20]. - The weighted average return on net assets was 96.03%, a significant recovery from -143.77% in the previous year[20]. - The company reported non-recurring gains of $51.65 million for the year 2020, compared to a loss of $82.11 million in 2019[29]. Revenue Breakdown - Total revenue for the first quarter was $38.39 million, second quarter $133.50 million, third quarter $118.96 million, and fourth quarter $72.92 million[22]. - The revenue from special machines increased significantly by 306.36% to ¥120,684,925.81, while the revenue from standard machines decreased by 36.25% to ¥14,867,201.52[60]. - Domestic sales accounted for 88.32% of total revenue at ¥321,268,698.11, down 33.72% from the previous year, while foreign sales increased by 131.28% to ¥42,497,220.28[60]. Operational Management - The company faces risks in its operational management, which are detailed in the report[5]. - The company has established a robust supplier management system, conducting monthly evaluations based on quality, price, delivery, and service to ensure compliance with production needs[37]. - The R&D model is customer-driven, focusing on developing products that meet specific client requirements, with a structured process to ensure compliance with industry standards[39]. - The production mode is order-oriented, with a focus on customized production based on client specifications, leading to varying production cycles for standard and non-standard machines[41]. Research and Development - The company has invested in R&D, focusing on precision winding technology and expanding its product line to meet specific customer needs, thus enhancing its competitive edge[48]. - R&D investment in 2020 was ¥14,144,663.17, accounting for 3.89% of operating revenue, a significant decrease from 6.77% in 2019[80]. - The number of R&D personnel decreased to 77 in 2020, representing 12.38% of the total workforce, down from 36.66% in 2019[80]. - The company developed a new generation of high-speed wireless charging coil winding equipment, significantly improving stability and efficiency compared to previous products[73]. Market Strategy - The company aims to become a global leader in the intelligent manufacturing equipment sector, achieving growth in revenue and market share despite a challenging market environment in 2020[32]. - The sales model is primarily direct sales, with orders obtained through existing customer referrals and public tenders, ensuring a strong relationship with clients[34]. - The company will continue to strengthen partnerships with well-known manufacturers to enhance customer loyalty and expand its domestic and international market presence[99]. Financial Management - The company has implemented a comprehensive equity incentive plan to attract and retain professional management talent, aligning interests among shareholders, the company, and key personnel[50]. - The company has established a profit distribution policy to ensure transparency and protect the rights of public investors[117]. - The company is committed to enhancing its automation, integration, and information technology capabilities to meet the evolving demands of the manufacturing industry[98]. - The company will implement comprehensive budget management and cost control measures to mitigate the impact of rising production costs[104]. Legal and Compliance - The company did not report any discrepancies between financial reports under international and Chinese accounting standards[25][26]. - The independent directors expressed no objections to the audit report, affirming it accurately reflects the company's financial status[125]. - The company has committed to maintaining compliance with information disclosure regulations[124]. - The company has not engaged in capital reserve transfers to increase share capital for the fiscal years 2018, 2019, and 2020[108]. Shareholder Relations - The company did not distribute cash dividends for the fiscal years 2018, 2019, and 2020, with a total cash dividend amount of 0.00 yuan for 2020[107]. - The total distributable profit for the year was 0.00 yuan, resulting in a cash dividend ratio of 0.00%[111]. - The company has established a stable and scientific return plan for shareholders, enhancing the investor return mechanism[117]. - The company has a lock-up period of 36 months for shares held prior to the IPO, with specific conditions for transfer and sale during and after this period[114]. Risks and Challenges - The company faces risks from intensified market competition that may lead to reduced gross margins, as customized products may have varying costs and pricing strategies[101]. - The company recognizes the risk of technological iteration and the need for continuous investment in R&D to keep pace with market demands and competitor advancements[103]. - The company anticipates rising production costs due to inflationary pressures on raw materials, labor, and logistics, exacerbated by the COVID-19 pandemic[104]. Corporate Governance - The company has established a performance commitment mechanism to ensure accountability among management during the performance period[113]. - The company is committed to maintaining control over its shareholding structure even after the lock-up period ends[114]. - The company has not engaged in related party transactions during the reporting period[144]. - The company has a structured release of locked shares for executives, with 25% of their shares being released annually during their tenure[180].