SSET(SZ:300540)2021-04-26 16:00Financial Performance - The company's operating revenue for 2020 was ¥518,723,551.37, representing a 19.15% increase compared to ¥435,349,250.51 in 2019[18]. - The net profit attributable to shareholders for 2020 was ¥9,427,082.87, a 27.11% increase from ¥7,416,554.02 in 2019[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥6,508,059.10, recovering from a loss of ¥12,361,830.17 in 2019[18]. - The total assets at the end of 2020 were ¥1,203,465,169.75, a 27.71% increase from ¥942,327,774.00 at the end of 2019[18]. - The company reported a basic earnings per share of ¥0.0756 for 2020, up 27.06% from ¥0.0595 in 2019[18]. - The total net assets attributable to shareholders at the end of 2020 were ¥566,877,054.61, a 3.48% increase from ¥547,808,858.86 at the end of 2019[18]. - The company experienced a negative cash flow from operating activities of ¥78,669,481.57 in 2020, compared to a positive cash flow of ¥44,895,446.29 in 2019[18]. - The company reported a total external guarantee amount of 10,000,000, with an actual guarantee amount also of 10,000,000 during the reporting period[117]. Accounts Receivable Management - The company reported a significant increase in accounts receivable, which poses a risk to asset quality and financial status if not collected timely[5]. - The company is enhancing its accounts receivable management and debt collection strategies to improve asset quality[5]. - The company is committed to improving its debt collection team and monitoring systems to mitigate financial risks associated with accounts receivable[5]. - The company has established a debt collection plan and restructuring strategy for different projects to gradually reduce accounts receivable[5]. - The company has established a risk management strategy to address the timely recovery of accounts receivable, which is a key focus for 2021[80]. - The company has a significant accounts receivable balance, and efforts are being made to recover these debts, including forming a dedicated team and employing external agencies[80]. Investment and Projects - The company completed its fundraising projects, including the "Natural Gas Liquefaction Device Capacity Expansion Project" and the "Cryogenic Liquefaction Technology R&D Center Project," which are expected to increase fixed asset depreciation and intangible asset amortization annually[6]. - The company faces risks related to the potential underperformance of its investment projects, which could lead to a decline in profit levels and return on equity[6]. - The company signed new contracts totaling approximately CNY 690 million, primarily involving LNG and air separation equipment[36]. - The company has completed the construction of several LNG and air separation projects, with expected production in 2021[36]. - The company plans to complete key projects in 2021, including a 400,000-ton LNG processing project and a 60,000-ton LNG project in Inner Mongolia[76]. Research and Development - Research and development investment for the year amounted to CNY 18.06 million, with multiple new technology patents authorized[39]. - The company has obtained 95 patent authorizations, including 24 invention patents and 62 utility model patents[31]. - The company is exploring the development of hydrogen fuel cell technologies and applications as part of its green energy initiatives[78]. - The company has developed technologies for hydrogen production, liquefaction, storage, and refueling, and plans to invest in hydrogen stations and comprehensive energy stations through cooperative operations[78]. Corporate Governance and Management - The company’s financial report has been confirmed as true, accurate, and complete by its board and management[4]. - The company has appointed Tianzhi International Accounting Firm as its auditor for the 2020 financial year, with an audit fee of 650,000 RMB[97]. - The company has undergone a change in control, with the controlling shareholder now being Sichuan Jiaotou Industrial Co., Ltd., as of January 14, 2021[98]. - The company reported a total remuneration of 4.5667 million yuan for directors, supervisors, and senior management in 2020[172]. - The company has established a comprehensive performance evaluation system and incentive mechanism for senior management, contributing to management stability and efficiency[197]. Shareholder and Equity Information - The company plans to issue A-shares at a price of RMB 13.78 per share, aiming to raise up to RMB 496.08 million to improve liquidity and support business development[80]. - The company did not distribute any cash dividends for the year 2020, despite having a positive profit available for distribution to ordinary shareholders[90]. - The company distributed a cash dividend of RMB 0.3 per share for the 2019 fiscal year, totaling RMB 37,407,597.90, with no capital reserve fund conversion planned[85]. - The company has a receivable of 49.9801 million CNY from a related party, which has created some financial pressure[108]. - The company signed an agreement with its actual controller to ensure repayment of 98.4966 million CNY owed by a related party[110]. Market Position and Industry Trends - The company focuses on providing natural gas liquefaction and air separation process packages and equipment, indicating a strong market position in the LNG sector[26]. - In 2020, China's apparent natural gas consumption reached 328.9 billion cubic meters, a year-on-year increase of 7.6%[29]. - The hydrogen energy industry in China saw an investment scale of 71.2 billion yuan in 2020, with 51.5 billion yuan specifically in the hydrogen fuel cell industry chain[74]. - The industrial gas market in China was valued at 147.7 billion yuan in 2019, with a compound annual growth rate of 15.29% from 2010 to 2019[73]. Employee and Organizational Structure - The company employed a total of 330 staff, including 264 in the parent company and 66 in major subsidiaries[175]. - The company has a diverse management team with backgrounds in law, finance, and engineering[168][169]. - The company has implemented a performance-based flexible compensation system to ensure employee interests are safeguarded[176]. - The company plans to enhance its training management system and provide better training development platforms for employees in 2021[177].