广和通(300638) - 2020 Q4 - 年度财报

Financial Performance - The company reported a total revenue of 1.2 billion RMB for the fiscal year 2020, representing a year-over-year growth of 15%[25]. - The company achieved a revenue of ¥2,743,578,210.41, representing a year-on-year growth of 43.26%[50]. - The net profit attributable to shareholders for 2020 was ¥283,623,344.22, which is a 66.76% increase from ¥170,074,699.67 in 2019[33]. - The net profit after deducting non-recurring gains and losses was ¥261,442,998.05, up 66.39% from ¥157,123,717.30 in 2019[33]. - The basic earnings per share for 2020 was ¥1.17, a 50.00% increase from ¥0.78 in 2019[33]. - The gross margin improved to 35%, up from 32% in the previous year, due to cost optimization strategies[25]. - The company aims to achieve a net profit margin of 10% in the upcoming fiscal year, up from 8%[25]. - The company reported a cash dividend of 4.00 yuan per 10 shares (including tax) to all shareholders based on a total share capital of 134,198,665 shares as of April 14, 2020[191]. Research and Development - Investment in R&D increased by 25% year-over-year, focusing on 5G and IoT technologies[25]. - The company invested CNY 304,628,596.07 in R&D, accounting for 11.10% of its revenue during the same period[62]. - The number of R&D personnel increased to 823 in 2020, representing 63.55% of the total workforce, compared to 64.26% in 2019[94]. - The company has established a strong R&D team, with over 60% of its 1,275 employees dedicated to R&D[62]. - The company has accumulated 44 invention patents, 43 utility model patents, and 52 software copyrights as of December 31, 2021[57]. Market Expansion - The company emphasizes the importance of expanding overseas markets to increase new profit sources amid intensifying market competition[7]. - The company plans to expand its market presence in Europe and North America, targeting a 30% increase in international sales[25]. - The company established subsidiaries or offices in Hong Kong, the USA, and Germany to support overseas market expansion[49]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2022[149]. Product Development - The company launched two new products in the IoT sector, contributing to a 5% increase in market share[25]. - The company launched the world's first 5G+eSIM module FG150 eSIM and FM150 eSIM in collaboration with China Unicom, enhancing security and usability[63]. - The company introduced the AX168-GL automotive-grade C-V2X module, targeting the global automotive market[64]. - The company launched the new generation high-performance smart module SC138, integrating high-performance CPU and GPU technologies[70]. - The NB-IoT product MC905 was launched, representing the start of the NB product 2.0 era, catering to low-speed IoT applications[64]. Financial Management - The company's accounts receivable at the end of the reporting period amounted to ¥651,192,055.59, accounting for 22.30% of total assets[15]. - The total assets of the company increased to 3 billion RMB, reflecting a growth of 12% year-over-year[25]. - The total assets at the end of 2020 were ¥2,920,471,618.06, a 42.17% increase from ¥2,054,163,643.10 in 2019[33]. - The company’s net assets attributable to shareholders increased by 19.86% to ¥1,562,132,866.28 in 2020 from ¥1,303,332,759.06 in 2019[33]. - The company’s cash flow from operating activities showed significant improvement, with the third quarter generating ¥122,814,991.05 and the fourth quarter generating ¥134,945,235.10[35]. Risk Management - The company acknowledges the risk of foreign exchange fluctuations due to its expanding overseas business and multi-currency settlements[14]. - The company is committed to strengthening the management of outsourced manufacturers to mitigate risks related to production quality and delivery[13]. - The company has implemented a comprehensive accounts receivable management system to mitigate risks associated with large receivables[15]. - The company is focused on the successful completion of its IoT mobile terminal solution project to better meet customer needs and reduce potential risks[9]. Corporate Governance - The company has ensured that minority shareholders have adequate opportunities to express their opinions and that their legal rights are fully protected[133]. - The company has fulfilled all commitments made by its actual controllers and shareholders during the reporting period[137]. - The company has not sold any major assets during the reporting period[123]. - There were no major litigation or arbitration matters during the reporting period[189]. Strategic Initiatives - A strategic acquisition of a local tech firm is anticipated to enhance the company's capabilities in smart grid technology[25]. - The company plans to enhance its investment in vehicle-mounted business, FIA complete machine business, and IoT platform services[52]. - The company plans to enhance global procurement capabilities to reduce manufacturing costs[127]. - The company plans to enhance overseas market share and improve product technology competitiveness in 2021[127].