集智股份(300553) - 2020 Q4 - 年度财报

Profit Distribution - The company reported a profit distribution plan, proposing a cash dividend of 2 CNY per 10 shares based on a base of 48,000,000 shares [12]. - The cash dividend for the fiscal year 2020 is set at 2.0 yuan per 10 shares, totaling 9.6 million yuan, subject to shareholder approval [110]. - The total distributable profit for the year is 113,715,874.30 yuan, with the cash dividend amounting to 9,600,000.00 yuan, representing 100% of the profit distribution [106]. - In 2020, the cash dividend accounted for 75.41% of the net profit attributable to the parent company, which was 12,730,866.97 yuan [112]. - The company has maintained a consistent profit distribution policy, ensuring compliance with its articles of association and shareholder resolutions [106]. - The company proposed not to distribute profits for the fiscal year 2019, retaining all profits for business development due to significant funding needs [105]. - The company has a profit distribution policy that prioritizes cash dividends, with a minimum cash dividend ratio of 80% for mature stages without major capital expenditures [116]. - The company plans to distribute profits at least once a year after the annual shareholders' meeting, with a minimum of 10% of the annual distributable profit allocated as cash dividends [117]. - The company commits to maintaining the continuity and stability of its profit distribution policy, ensuring that cumulative cash dividends over three consecutive years are at least 30% of the average annual distributable profit [117]. - The company will not implement cash dividends if there are significant investment plans or cash expenditures exceeding 30% of the latest audited total assets within the next twelve months [117]. - The company emphasizes the importance of maintaining shareholder rights and interests in its profit distribution strategy [116]. - The company will maintain a cash dividend ratio of no less than 20% of the total profit distribution, with cash dividends accounting for at least 10% of the distributable profit for the year [119]. - The company will retain undistributed profits primarily for significant investments, acquisitions, and equipment purchases to gradually expand its operational scale and optimize its financial structure [119]. - The independent directors are responsible for providing independent opinions on profit distribution proposals, ensuring transparency and compliance with regulations [119]. - The company will actively communicate with shareholders, especially minority shareholders, regarding cash dividend proposals through various channels [119]. Financial Performance - The company's operating revenue for 2020 was ¥164,647,698.47, a decrease of 1.01% compared to ¥166,325,650.41 in 2019 [24]. - Net profit attributable to shareholders was ¥12,730,866.97, down 38.96% from ¥20,856,493.17 in the previous year [24]. - The net profit after deducting non-recurring gains and losses was ¥2,315,735.55, reflecting an 86.00% decline from ¥16,545,380.98 in 2019 [24]. - The company's total assets increased by 14.71% to ¥426,588,522.94 at the end of 2020, compared to ¥371,890,919.68 at the end of 2019 [24]. - The basic earnings per share decreased by 37.21% to ¥0.27 from ¥0.43 in 2019 [24]. - The company reported a net cash flow from operating activities of ¥18,719,326.69, down 12.13% from ¥21,303,870.05 in 2019 [24]. - The main business revenue accounted for 87.60% of total revenue, while other business income made up 12.40% [34]. - The company has seen a 50.60% decrease in cash and a 124.33 times increase in trading financial assets, primarily due to investments in financial products [42]. - Inventory has increased by 32.08% due to a rise in unfulfilled orders, indicating growing demand for the company's products [42]. - The company reported a significant increase in sales in the home appliance sector, which helped offset declines in the automotive parts industry [50]. Research and Development - The company has cultivated a team of complementary technical talents, which is crucial for its future development and innovation [7]. - The R&D department is responsible for product innovation and collaborates with academic institutions for advanced research [35]. - The company had 84 R&D personnel, accounting for 31.82% of the total workforce, with R&D expenses representing 16.67% of total revenue [51]. - Research and development expenses increased by 52.88% to ¥27,447,281.20 in 2020, representing 16.67% of total operating revenue, driven by new projects and increased personnel costs [69]. - The company applied for 15 new patents during the reporting period, including 7 invention patents and 8 utility model patents [51]. - The company holds 51 patents related to automatic balancing machines, including 14 invention patents, showcasing its technological leadership in the industry [43]. - The company completed several R&D projects in 2020, including a five-station flexible intelligent balancing machine and a fully automatic tire balancing and detection line [67][68]. - The company is collaborating with Zhijiang Laboratory on smart fiber sensing projects to explore innovative mechanisms for technology transfer and development [51]. - The company has established a strong brand presence, successfully entering partnerships with major firms like Bosch and Valeo, enhancing its market influence [44]. Market Position and Strategy - The company has successfully entered the manufacturing field of clutch pressure plates and assemblies, achieving a certain market position and brand recognition in the motor application sector [10]. - The company focuses on the research, design, production, and sales of fully automatic balancing machines, which are widely used in various industries [34]. - The company has focused on the automotive rotating parts sector, enhancing R&D and market expansion for automatic balancing machines, which has significantly improved market competitiveness [36]. - The automatic balancing machine market in China is fully competitive, with significant growth opportunities driven by industrial transformation and automation trends [39]. - The automotive parts industry is rapidly evolving, with increasing demands for quality and process control, presenting further opportunities for the company's advanced manufacturing solutions [40]. - The company aims to respond to the "Made in China 2025" strategy by expanding into high-precision fields such as aerospace and nuclear power [93]. - The company is committed to becoming a significant player in the automation and intelligent manufacturing sectors, leveraging its accumulated resources and technology [93]. - The company plans to establish 5 new regional service centers in China and 3 overseas in India, Mexico, and Germany to enhance market presence [46]. - The company is expanding its product application areas from electric motors to automotive, pumps, and fans, which may present market expansion risks [100]. Risks and Challenges - The company faces risks related to talent retention and competition, which could impact its growth and innovation capabilities [7][9]. - The company acknowledges potential risks of declining gross margins due to increased market competition and rising labor costs [11]. - The company is aware of the increasing attention from international peers and the potential for intensified market competition [9]. - The company faces risks related to technology talent shortages and market competition, which could impact its growth and operational stability [97][98]. Corporate Governance - The company has established a governance structure that ensures equal rights for all shareholders, particularly minority shareholders, through measures like online voting [197]. - The company has a total of 6 independent directors serving on its board, ensuring diverse oversight [189]. - The independent directors' compensation is determined based on resolutions passed by the shareholders' meeting [190]. - The company has a performance-based remuneration system for its directors and senior management, which considers the company's profitability and individual performance [190]. - The company has established a strong governance structure with independent directors actively involved in decision-making [189]. - The company has made a commitment to compensate investors for losses caused by any false records or misleading statements in the prospectus [121]. Subsidiaries and Investments - The company established a wholly-owned subsidiary, Hangzhou Diting Intelligent Technology Co., Ltd., with an investment of 5 million RMB, holding 100% equity [125]. - The company also set up a joint venture, Hangzhou Yulu Intelligent Equipment Co., Ltd., with a total registered capital of 4 million RMB, where the company holds 51% equity with an investment of 204 million RMB [125]. - The company has established subsidiaries, such as Shanghai Hengwang Intelligent Technology Co., which targets high-speed balancing technology, indicating a strategic direction for future growth [36]. - The company has invested in three subsidiaries to adjust its industrial layout, focusing on the research and production of balancing machines and related products [94]. Employee Management - The total number of employees in the company is 264, with 163 in the parent company and 101 in major subsidiaries [192]. - The company has a professional composition of 85 production personnel, 56 sales personnel, 84 technical personnel, 6 financial personnel, and 33 administrative personnel [192]. - The company conducts monthly training sessions for various departments, focusing on skill development and internal knowledge transfer [194]. - The company has established a performance evaluation and incentive mechanism for senior management, ensuring transparency and compliance with legal regulations [199]. Compliance and Transparency - The company has engaged Zhonghui Certified Public Accountants for audit services, with a fee of 500,000 RMB, maintaining a continuous service period of 11 years [126]. - The company maintains a commitment to timely and accurate information disclosure, utilizing multiple channels for investor communication [200]. - The company has not reported any significant changes in the scope of consolidated financial statements compared to the previous year [125]. - The company has not reported any significant matters regarding its subsidiaries [157].