JLU COMMUNICATION(SZ:300597)2021-04-22 16:00Dividend Distribution - The company plans to distribute a cash dividend of 0.25 RMB per 10 shares based on a total of 240,000,000 shares, with no bonus shares issued[5]. - The board of directors has approved the profit distribution plan, ensuring a return to shareholders while maintaining capital reserves[5]. - The cash dividend distribution policy has been executed in accordance with the company's articles of association, ensuring the protection of minority shareholders' rights[161]. - The company did not issue new shares or increase capital reserves during the reporting period, maintaining a conservative approach to profit distribution[162]. - In 2020, the cash dividend amount was 6,000,000, representing 19.77% of the net profit attributable to ordinary shareholders[165]. - In 2019, the cash dividend amount was 5,040,000, which accounted for 12.02% of the net profit attributable to ordinary shareholders[165]. - The company commits to distributing cash dividends of no less than 10% of the distributable profit each year[170]. - The company plans to implement a stable profit distribution policy, emphasizing reasonable returns to investors while considering sustainable development[168]. Financial Performance - The company's operating revenue for 2020 was ¥492,784,445.89, a decrease of 2.10% compared to ¥503,366,353.38 in 2019[17]. - The net profit attributable to shareholders for 2020 was ¥30,352,706.99, down 27.64% from ¥41,946,889.95 in 2019[17]. - The total assets at the end of 2020 were ¥1,095,037,685.45, a slight increase of 0.23% from ¥1,092,554,139.09 at the end of 2019[17]. - The company's basic earnings per share for 2020 was ¥0.13, a decrease of 23.53% from ¥0.17 in 2019[17]. - The company maintained a weighted average return on equity of 3.72% in 2020, down from 5.35% in 2019[17]. - The company achieved a net profit of 30.13 million yuan for the 2020 fiscal year, with a distributable profit of 28.08 million yuan after statutory reserve deductions[164]. Market Expansion and Strategy - The company is focused on expanding its market presence and enhancing its technological capabilities in the telecommunications sector[5]. - Future growth strategies include investments in new technologies and products to meet evolving market demands[5]. - The company is actively pursuing opportunities for mergers and acquisitions to strengthen its competitive position[5]. - The company aims to leverage advancements in information and communication technology to enhance service offerings[5]. - The company is expanding its ICT business and has undertaken numerous large-scale ICT projects, emphasizing high-quality technical services[26]. - The company has established a subsidiary in the Philippines to expand its overseas market presence, leveraging opportunities from the "Belt and Road" initiative[40]. - The company is well-positioned to capitalize on the growing demand for communication infrastructure in underdeveloped regions, particularly in overseas markets[38]. - The company plans to strengthen its existing domestic business and develop new market opportunities, particularly targeting major clients like China Tower and China Broadcasting[148]. Research and Development - The company has established a comprehensive system for R&D, quality control, and project management, ensuring efficient operation across all processes[27]. - The total R&D expenses for 2020 amounted to CNY 17,904,556.75, an increase of 14.61% compared to 2019[93]. - The company completed 11 out of 12 R&D projects in 2020, focusing on advanced communication technologies including 5G and edge computing[95]. - The company has a strong R&D capability and holds multiple high-level qualifications, which enhances its competitive advantage in the industry[62]. - The company has filed several patents related to big data and energy-saving technologies, reflecting its commitment to innovation[97]. - The company has enhanced its internal R&D capabilities, holding multiple patents and software copyrights, and has established a strong intellectual property system[132]. Risk Management - The company has outlined potential risks in its future development outlook, along with corresponding mitigation strategies[5]. - The company has identified risks related to declining gross margins due to increased competition and rising labor costs, and is implementing strategies to control costs and maintain service quality[155]. - The company plans to strengthen its internal control and risk management systems to navigate challenges in overseas business expansion[156]. - The company faces market competition risks, necessitating a robust service system and timely technological upgrades to meet evolving customer demands[154]. Corporate Governance and Compliance - The company’s board approved adjustments to the investment plans for the communication service network upgrade project, reducing the total investment from RMB 415.3 million to RMB 213.3 million[118]. - The commitments from major shareholders include not seeking preferential treatment for their controlled entities in business cooperation[172]. - The company will disclose reasons if it does not propose a cash profit distribution plan after achieving profitability in the previous fiscal year[170]. - The company has committed to compensating investors for any losses due to false statements or omissions in the documents related to its initial public offering[182]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[184]. Industry Trends and Opportunities - The global market for IoT is expected to create over $10 trillion in new market space across nine major industries by 2025[33]. - The Ministry of Industry and Information Technology plans to cover 200 million households with gigabit fiber networks by the end of 2021, with a target of 300 million households by the end of 2023[34]. - The digital economy in China is expected to maintain an annual growth rate of around 15% from 2020 to 2025, potentially exceeding 80 trillion yuan by 2025[43]. - The company is actively participating in 5G network construction, focusing on key technology research and talent development to support high-quality economic growth[35]. - The communication technology service industry is expected to expand significantly due to the increasing demand for digital transformation across various sectors[31].