GHT(SZ:300711)2021-03-30 16:00Financial Performance - The company's operating revenue for 2020 was CNY 308,327,748.28, representing a 15.43% increase compared to CNY 267,116,574.91 in 2019[19]. - The net profit attributable to shareholders for 2020 was CNY 30,823,080.20, an increase of 80.96% from CNY 17,033,413.23 in 2019[19]. - The net cash flow from operating activities reached CNY 70,456,162.53, up 58.85% from CNY 44,354,282.44 in 2019[19]. - The basic earnings per share for 2020 was CNY 0.1484, an increase of 80.98% compared to CNY 0.0820 in 2019[19]. - The total assets at the end of 2020 were CNY 780,094,422.53, a 5.87% increase from CNY 736,873,521.82 at the end of 2019[19]. - The company reported a net profit of CNY 32,608,019.23 in Q4 2020, significantly improving from a loss of CNY 9,615,479.86 in Q1 2020[21]. - The company received government subsidies totaling CNY 2,512,984.60 in 2020, compared to CNY 1,632,036.78 in 2019[24]. - The company achieved operating revenue of 308.33 million yuan, an increase of 15.43% compared to the previous year[55]. - The net profit attributable to shareholders reached 30.82 million yuan, up 80.96% year-on-year[55]. Dividend Policy - The company plans to distribute a cash dividend of 0.38 RMB per 10 shares to all shareholders, based on a total of 207,642,172 shares[6]. - The proposed cash dividend is CNY 0.38 per 10 shares (including tax), totaling CNY 7,890,402.54, which represents 25.60% of the net profit attributable to shareholders[157]. - The total distributable profit available for shareholders is CNY 60,515,527.76, after deducting the legal reserve of CNY 1,307,189.27[153]. - The cash dividend amount for 2020 is 100% of the total profit distribution amount, indicating a full payout[160]. - The company has a history of increasing cash dividends, with CNY 4,844,984.03 distributed in 2019 and CNY 4,037,486.71 in 2018[157]. - The company prioritizes cash dividends, distributing at least 20% of the distributable profits as cash dividends if there are no major investment plans[142]. - In mature stages without major expenditures, the cash dividend proportion should be at least 80% of the profit distribution[142]. - The company retains undistributed profits for significant investments, asset acquisitions, and operational liquidity to support sustainable growth[149]. - The board of directors must consider the opinions of minority shareholders when formulating profit distribution plans[140]. - The company aims to maintain a continuous and stable profit distribution policy while balancing long-term interests and sustainable development[140]. Market Strategy and Operations - The company is focused on expanding its market presence and enhancing its product offerings through new technologies and innovations[6]. - The company has established a nationwide sales network, implementing a dual sales model of direct sales and distribution agents across 14 provincial regions[35]. - The company focuses on providing command and dispatch communication solutions for various sectors, including defense and power[28]. - The company is well-positioned in the defense, power, and rail transportation sectors, benefiting from early market entry and extensive application experience[50]. - The company is focusing on the development of intelligent dispatch information communication systems based on soft switch/IMS technology[60]. - The company aims to leverage opportunities in the defense sector due to increased investments in military communication technology and modernization efforts, anticipating rapid growth in the command and dispatch communication systems market[123]. - In the electric power sector, the company plans to enhance its information communication platform and extend its product offerings, driven by the demand for intelligent grid systems and new data management requirements[124]. - The company is focusing on the railway sector by developing IP-based dispatch communication products, which align with industry technology development plans and offer unique advantages in multi-media integration[125]. - The strategic shift from communication dispatch to information dispatch will involve the integration of multimedia command and dispatch products with information technology, aiming to transform dedicated networks into shared networks[126]. - The company intends to maintain its market leadership in military command and dispatch systems while expanding its presence in the electric power and railway dispatch communication sectors[127]. Research and Development - The company applied for 18 patents during the reporting period, including 9 invention patents, and has a total of 48 authorized patents as of the end of the reporting period[49]. - The company has maintained a leading position in the domestic command and dispatch field, with over 10% of annual revenue invested in R&D[49]. - R&D investment amounted to 45.38 million yuan, accounting for 14.72% of operating revenue, with 18 patents applied for[61]. - The company established a joint research center with Xi'an University of Electronic Science and Technology to collaborate on smart software and wireless communication technologies[61]. - The number of R&D personnel increased to 138 in 2020, representing 32.70% of the total workforce[89]. - The company will invest in forward-looking R&D projects, focusing on cloud computing, AI, 5G, and IoT technologies to support industry applications and enhance its competitive edge[128]. Risk Management - The company emphasizes the importance of risk management and has outlined potential risks and countermeasures in the report[6]. - The company faces risks from intense industry competition and talent shortages, necessitating strategies to strengthen its technical capabilities and retain key personnel[133]. - The company's major raw materials, such as chips and CPUs, are primarily sourced from foreign manufacturers, with potential risks of supply tightness and price increases due to international trade conditions[81]. Corporate Governance - The company is committed to maintaining high standards of corporate governance and compliance with regulatory requirements[6]. - The company has established a dedicated investor relations team to facilitate communication with shareholders and stakeholders[16]. - The company has implemented a cash dividend policy to ensure shareholder returns and has improved its corporate governance structure[200]. - The company has established multiple communication channels with investors to ensure transparency and engagement[200]. Financial Integrity - The financial report confirms the accuracy and completeness of the financial data presented, ensuring transparency for investors[5]. - The company has appointed a reputable accounting firm to ensure the integrity of its financial reporting[18]. - The company has maintained a continuous relationship with the accounting firm for 6 years, with an audit fee of 450,000 yuan[175]. Shareholder Relations - The company has complied with its cash dividend policy, ensuring that minority shareholders have had the opportunity to express their opinions[150]. - The cash dividend distribution plan is consistent with the company's articles of association and dividend management measures[150]. - The company has committed to a lock-up period for shareholders, restricting the transfer of shares for 18 months after resignation if the resignation is declared within six months of the company's stock listing[161]. Miscellaneous - The company has not experienced any changes in the use of raised funds during the reporting period[112]. - There were no significant lawsuits or arbitration matters during the reporting period[177]. - The company did not experience any non-operating fund occupation by controlling shareholders or related parties[172]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period[179].