JL(SZ:300589)2021-04-27 16:00Financial Performance - Jianglong Shipbuilding reported a total revenue of RMB 1.2 billion for the year 2020, representing a year-on-year increase of 15% compared to 2019[12]. - The company's operating revenue for 2020 was ¥612,990,210.16, an increase of 11.31% compared to ¥550,702,759.19 in 2019[17]. - Jianglong Shipbuilding's net profit for 2020 was RMB 150 million, reflecting a growth of 12% compared to the previous year[12]. - The net profit attributable to shareholders for 2020 was ¥34,860,049.26, reflecting a 2.40% increase from ¥34,042,556.72 in 2019[17]. - The gross profit margin for 2020 was 17.59%, a decrease of 1.46% from 2019, primarily due to the implementation of new revenue standards[57]. - The company reported a basic earnings per share of ¥0.1719, a 2.38% increase from ¥0.1679 in 2019[17]. - The company achieved a significant milestone with the completion of the "High-Performance Energy-Saving Composite Boat Expansion Project," which has begun to gradually release production capacity[113]. Investment and R&D - The company plans to enhance its research and development efforts, particularly in carbon fiber and fiber-reinforced plastics technologies, to improve product offerings[9]. - The company increased its investment in boat manufacturing R&D, achieving progress in internationalization, green low-carbonization, specialization, and high technology[58]. - The company conducted 14 R&D projects during the reporting period, focusing on energy-saving, clean energy, and unmanned boats, enhancing its market competitiveness[65]. - The company has committed to increasing its R&D budget to 200 million yuan in 2021, focusing on sustainable technologies[152]. - The company plans to invest in a new intelligent manufacturing project for advanced marine boats, including high-speed enforcement boats and clean energy vessels, to enhance its product system[63]. Market Expansion - Jianglong Shipbuilding aims to expand its market presence in Southeast Asia and Europe, targeting a 20% increase in international sales by 2022[12]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2022[152]. - The company is enhancing its international presence in the defense vessel market through partnerships with major state-owned military trade enterprises[37]. - The company is strategically upgrading its target markets towards high-end patrol boats and cruise-type vessels, aiming for a digital and intelligent transformation in boat design and manufacturing[117]. Strategic Partnerships and Acquisitions - The company is focusing on strategic partnerships and potential acquisitions to enhance its competitive edge in the shipbuilding industry[12]. - A strategic acquisition was announced, with the company acquiring a competitor for 200 million yuan, expected to enhance its market position and product portfolio[152]. - The company signed a strategic cooperation agreement on November 6, 2020, with MTU Hong Kong Limited, Vpower Technology Limited, and Austal Ship Technology, aiming to leverage each party's strengths for mutual benefit[199]. Risk Management - The company has identified key risks including fluctuations in raw material prices and regulatory changes that may impact future operations[4]. - The company is facing risks from policy changes that could adversely affect its business, particularly in the boat manufacturing sector[128]. - The company is addressing market competition risks by promoting technological innovation and green manufacturing practices[129]. - The company is actively managing foreign exchange risks by implementing hedging strategies to mitigate the impact of currency fluctuations on its performance[136]. Corporate Governance and Shareholder Relations - The company proposed no profit distribution for the fiscal year 2020, with retained earnings carried over to the next year due to significant capital expenditure needs[141]. - The total distributable profit for the year was approximately ¥138.72 million, with a cash dividend amount of ¥0.00, representing 0.00% of the total profit distribution[143]. - The company has consistently prioritized reinvestment over cash dividends to support growth and operational needs[148]. - The independent directors fulfilled their responsibilities in the decision-making process regarding profit distribution[142]. Operational Efficiency - The company is implementing new strategies to improve operational efficiency, aiming for a 15% reduction in operational costs by 2022[152]. - The company aims to enhance operational efficiency by focusing on quality management, delivery management, and budget management in 2021[127]. Compliance and Certifications - The company has received multiple certifications, including ISO9001 and ISO14001, ensuring compliance with high-quality standards[132]. - The company has achieved certifications including GB/T19001-2016/ISO9001:2015 and GB/T24001-2016/ISO14001:2015, ensuring high product quality and compliance with international standards[184]. Social Responsibility - The company has actively participated in social responsibility initiatives, donating a total of CNY 160,000 to local charities during the reporting year[190].