Exciton(SZ:300566)2021-04-23 16:00Financial Performance - The company's operating revenue for 2020 was ¥1,420,171,894.07, representing a 29.55% increase compared to ¥1,096,211,086.27 in 2019[20]. - The net profit attributable to shareholders for 2020 was ¥136,762,723.32, a significant increase of 111.52% from ¥64,658,514.11 in 2019[20]. - The net profit after deducting non-recurring gains and losses was ¥111,655,048.55, up 186.11% from ¥39,025,172.96 in 2019[20]. - The company's cash flow from operating activities for 2020 was ¥153,475,380.90, an increase of 27.02% compared to ¥120,830,682.06 in 2019[20]. - The total assets at the end of 2020 were ¥2,291,541,135.06, reflecting a 15.07% increase from ¥1,991,483,275.79 at the end of 2019[20]. - The company achieved a basic earnings per share of ¥0.88 in 2020, which is a 109.52% increase from ¥0.42 in 2019[20]. - The total revenue for the year 2020 was CNY 1,420,171,894.07, representing a year-on-year increase of 29.55% compared to CNY 1,096,211,086.27 in 2019[56]. - Main business revenue accounted for CNY 1,408,081,992.57, which is 99.15% of total revenue, with a year-on-year growth of 29.47%[56]. - The gross profit margin for optical films was 28.74%, showing a slight increase of 0.49% compared to the previous year[59]. - The gross profit margin for solar backboards was 19.13%, with an increase of 1.84% year-on-year[59]. Research and Development - The company is focused on continuous R&D investment to launch new products and maintain competitiveness in the market[6]. - The company plans to continue investing in R&D and innovation to maintain its leading position in the high-end display film market[31]. - The company has obtained a total of 94 patents, including 67 invention patents, emphasizing its focus on R&D and innovation[49]. - The company has successfully developed and mass-produced new products such as quantum dot films and composite optical films, enhancing its market share in high-end display materials[32]. - The company is actively pursuing opportunities in the photovoltaic sector, including the development of encapsulation films, to leverage growth in renewable energy[89]. - The company has a diverse management team with backgrounds in engineering, finance, and research, enhancing its strategic capabilities[164][165][166]. Market Position and Strategy - The company has positioned itself as a leader in the domestic optical film market, overcoming technological and quality barriers that have historically been dominated by foreign companies[34]. - The optical film industry is expected to maintain rapid growth, driven by domestic demand and supportive national industrial policies[7]. - The company is benefiting from the domestic substitution opportunities in upstream materials for display applications, leading to increased market share in high-end optical films[31]. - The company aims to enhance its market share in high-end optical films and plans to expand its product offerings, including composite films and quantum dot films, to capture emerging market opportunities[87]. - The company is leveraging government support for the LCD industry to foster growth in the optical film sector, benefiting from the shift of the supply chain to domestic production[32]. Competition and Risks - The company faces risks from increasing competition in the optical film industry, which may affect market share if it fails to innovate and improve product quality[7]. - The company acknowledges the risk of bad debts due to the increasing scale of accounts receivable, which may rise with the expansion of its business[9]. - The company has experienced a continuous decline in gross profit margin due to price pressures from downstream manufacturers in the consumer electronics sector, which has led to a downward trend in market prices for optical films[5]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of RMB 1 per 10 shares and a capital reserve increase of 5 shares for every 10 shares held, based on a total of 155,200,500 shares[10]. - The cash dividend for 2020 represents 11.35% of the net profit attributable to the company's ordinary shareholders, which is RMB 136,762,723.32[100]. - The total distributable profit for the year was RMB 207,439,430.70, with the cash dividend accounting for 100% of the profit distribution[96]. - The company has consistently adhered to its cash dividend policy, ensuring compliance with its articles of association and shareholder resolutions[96]. - The cash dividend distribution plan for 2020 is subject to approval at the upcoming shareholders' meeting[98]. Internal Control and Governance - The company has maintained effective internal controls without any reported failures in compliance or regulatory functions[199]. - The company’s audit committee confirmed that the external auditor conducted the audit objectively and issued an unqualified opinion on the annual financial report[195]. - The company has established a commitment to ensure that the remuneration of directors and senior management is linked to the execution of the company's performance recovery measures[105]. - The company has a complete set of production systems and legally owns essential assets related to its operations, including land, buildings, and equipment[189]. - The company maintains a governance structure that complies with relevant laws and regulations, ensuring transparency and accountability[184]. Employee and Talent Management - The total number of employees in the company is 654, with 318 in the parent company and 336 in major subsidiaries[178]. - The company has implemented a training plan that includes online courses and various educational training projects[180]. - The company respects and protects employee rights, providing regular health check-ups and training programs[138]. - The company has established a performance evaluation system linking senior management performance to compensation[186]. Investment and Financial Activities - The company has increased its production capacity for optical films, leading to improved sales and performance growth[32]. - The company's equity investments increased by ¥35,642,799.65, a growth of 37.06%, primarily due to investments in Jujia Technology and recognition of investment income from joint ventures[35]. - The company reported a related party transaction involving the purchase of materials and warehouse leasing, with a transaction amount of 11,477,000 RMB, accounting for 11.61% of the same type of transactions[121]. - The company did not engage in any asset or equity acquisition or sale transactions during the reporting period[122].