WXLH(SZ:300694)2021-04-26 16:00Financial Performance - The company's operating revenue decreased by 10.61% compared to the previous year, while net profit fell by 56.83%[5]. - The decline in performance was primarily due to the impact of the COVID-19 pandemic, which caused significant fluctuations in sales revenue and low capacity utilization[5]. - The company reported a net profit of -¥5,141,919.59 in Q4 2020, indicating challenges in the latter part of the year[25]. - The net profit attributable to shareholders for 2020 was ¥45,815,745.22, down 56.83% from ¥106,135,593.22 in 2019[23]. - The net profit after deducting non-recurring gains and losses was ¥30,081,094.77, a decline of 67.94% from ¥93,840,432.52 in 2019[23]. - The company's basic earnings per share for 2020 was ¥0.21, down 57.14% from ¥0.49 in 2019[23]. - The total assets at the end of 2020 were ¥1,904,949,793.26, a decrease of 5.54% from ¥2,016,630,430.81 at the end of 2019[23]. - The company's net assets attributable to shareholders increased by 2.34% to 1,248.53 million yuan compared to the beginning of the period[54]. - The company's total cash and cash equivalents decreased by 167.47% year-on-year, with a net decrease of ¥12,006,832.37[78]. Sales and Market Trends - In the first quarter, the company maintained stable overseas sales, but the second quarter saw a notable decline due to the outbreak of COVID-19 overseas[5]. - By the third quarter, sales revenue decline significantly narrowed as overseas sales gradually recovered[5]. - The sales revenue from compressor housings was 578.34 million yuan, a decline of 12.84% year-on-year, while turbine housing sales were 426.86 million yuan, down 6.50% year-on-year[54]. - The company achieved a sales volume of 423.44 million units in domestic regions, reflecting a 4.11% increase from 406.71 million units in the previous year, while overseas sales dropped by 20.07% to 394.30 million units[61]. - The company is focusing on the development of hydrogen fuel cell components and aims to enhance its production capabilities in this area[105]. - The company is actively developing new products and markets to counteract the impact of the growth of pure electric vehicles on its existing business[110]. Research and Development - The company is actively investing in R&D to optimize production processes and reduce quality losses, aiming to enhance production efficiency and cost-effectiveness[56]. - Research and development expenses totaled ¥52,003,285.77, accounting for 4.82% of total revenue, reflecting a focus on new products and technologies[76]. - The company plans to enhance its focus on R&D innovation, particularly in turbocharger technology, to capitalize on the growing demand in both traditional and hybrid vehicle markets[105]. - The company is exploring partnerships with automotive manufacturers to integrate its technology into new vehicle models, aiming for a 15% increase in collaborative projects[127]. Strategic Initiatives - The company is focusing on the development of electric turbocharger components to support hybrid vehicles, enhancing power assistance and efficiency in fuel consumption[57]. - The company is actively exploring opportunities in the new energy vehicle components sector to diversify its product structure[33]. - The company has implemented risk control measures to mitigate foreign exchange losses due to the downward trend of the USD/RMB exchange rate[5]. - The company is committed to improving investment efficiency and the effectiveness of raised funds usage in response to the changing market conditions[94]. Corporate Governance and Compliance - The company emphasizes the importance of compliance with regulations regarding shareholding and transfer restrictions[128]. - The company has committed to reducing and avoiding related party transactions, ensuring that any unavoidable transactions are conducted on fair and reasonable terms[129]. - The company has established measures to address any potential conflicts of interest arising from related party transactions[128]. - The company will publicly announce specific plans for stock price stabilization measures in advance if triggered[129]. Environmental and Social Responsibility - The company is committed to environmental sustainability and social responsibility, promoting green practices[172]. - The company has achieved zero wastewater discharge by treating all wastewater internally and outsourcing concentrated waste treatment[179]. - The company reported total emissions of 6.49475 tons/year for particulate matter and 0.4488 tons/year for carbon dioxide, all within regulatory limits[176]. - In 2020, the company donated materials and funds to local communities in response to the pandemic, supporting education and elderly activities[175]. Future Outlook - The company anticipates continued economic recovery and growth in the automotive sector, supported by government policies promoting consumption[103]. - The company provided guidance for the next fiscal year, projecting a revenue increase of 20%, aiming for 1.44 billion RMB[127]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[126]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its portfolio[167].