Yongfu(SZ:300712)2021-04-27 16:00Dividend and Profit Distribution - The company plans to distribute a cash dividend of 1 RMB per 10 shares to all shareholders, based on a total of 182,104,000 shares[6]. - The company proposed a cash dividend of RMB 1.00 per 10 shares, totaling RMB 18,210,400.00 (including tax), which represents 100% of the total profit distribution[144][146]. - The total distributable profit as of December 31, 2020, was RMB 328,917,085.03, after accounting for previous undistributed profits and cash dividends paid[144]. - The company maintained a consistent cash dividend policy over the past three years, with no changes to the profit distribution policy[145]. - The company’s profit distribution plan aligns with the guidelines from the China Securities Regulatory Commission to provide stable returns to investors[144]. - The company’s legal surplus reserve was RMB 11,282,627.98, which is 10% of the parent company's net profit[144]. - The company reported a cash dividend of CNY 18,210,400 for the year 2020, which represents 35.76% of the net profit attributable to ordinary shareholders[147]. - In 2019, the cash dividend was also CNY 18,210,400, accounting for 24.90% of the net profit attributable to ordinary shareholders[147]. - For 2018, the cash dividend amounted to CNY 14,008,000, which was 19.05% of the net profit attributable to ordinary shareholders[147]. Financial Performance - The company's operating revenue for 2020 was ¥980,439,090.50, a decrease of 31.93% compared to ¥1,440,375,320.79 in 2019[18]. - The net profit attributable to shareholders for 2020 was ¥50,918,935.37, down 30.38% from ¥73,142,052.32 in 2019[18]. - The net profit after deducting non-recurring gains and losses was ¥38,471,153.90, a decline of 42.20% from ¥66,558,602.44 in 2019[18]. - The total assets at the end of 2020 were ¥2,188,400,108.39, a decrease of 7.25% from ¥2,359,506,051.20 at the end of 2019[18]. - The net assets attributable to shareholders increased by 3.52% to ¥1,023,464,925.38 at the end of 2020, compared to ¥988,652,515.19 at the end of 2019[18]. - The company achieved a total revenue of ¥980,439,090.50 in 2020, representing a decrease of 31.93% compared to ¥1,440,375,320.79 in 2019[72]. - The company reported a net profit attributable to shareholders for the year 2020 was RMB 50,918,935.37, with the parent company achieving a net profit of RMB 112,826,279.82[143]. Market Presence and Expansion - The company is focused on expanding its market presence and enhancing its engineering consulting services[11]. - The company has a market presence across 30 provinces in China and several countries along the Belt and Road Initiative, including Southeast Asia, Africa, and the Middle East[26]. - The company aims to achieve over 1.2 billion kilowatts of installed capacity for wind and solar power by 2030 as part of China's energy transition goals[38]. - The company is actively seeking high-return, profitable, and cash flow-positive investment opportunities in clean energy and new energy projects to enhance future profitability[37]. - The company is focusing on enhancing its design capabilities through software procurement and technology upgrades[99]. Research and Development - The company has a leading position in offshore wind power design capabilities, with 39 patents and contributions to national standards in the energy sector[34]. - The company holds 106 patents, with 10 patents authorized in 2020, showcasing its R&D capabilities[49]. - Research and development expenses increased by 27.26% to approximately CNY 38.47 million, reflecting the company's commitment to innovation[88]. - The company increased R&D investment in offshore wind power, energy storage, smart energy, and integrated energy, achieving 10 patent authorizations and 12 provincial-level awards during the reporting period[89]. - The company has committed to ongoing research and development, with investments in new technologies and products aimed at enhancing operational efficiency and service offerings[200]. Risk Management and Corporate Governance - The report includes a risk warning regarding forward-looking statements related to future plans and strategies[5]. - The company is committed to maintaining high standards of corporate governance and transparency in its operations[10]. - The company emphasizes prudent investment strategies and risk analysis to ensure project profitability[134]. - The company is enhancing its receivables management to reduce risks associated with accounts receivable as business scales up[131]. - The company is focused on improving project management to mitigate risks related to project execution and delays[132]. Financial Management and Cash Flow - The net cash flow from operating activities improved to ¥82,988,060.44, compared to a negative cash flow of ¥608,351,781.88 in 2019, marking a 113.64% increase[18]. - The company reported a net increase in cash and cash equivalents of ¥120,794,540.37, compared to a net decrease of ¥205,313,262.52 in the previous year[92]. - The company received government subsidies and tax reductions amounting to ¥15,776,896.24, contributing to 26.84% of total profit[96]. - The company’s cash and cash equivalents decreased to CNY 144,704,777.30 from CNY 183,969,661.81[102]. - The company has a balance of RMB 58,000,000 in idle raised funds, which is intended to supplement working capital[113]. Strategic Initiatives and Future Outlook - The company aims to achieve a revenue of 1.7 billion yuan and a net profit attributable to shareholders of 87 million yuan for 2021[129]. - The company is focusing on the "new energy + energy storage" and integrated smart energy sectors for technological innovation and system integration[128]. - The company plans to enhance its core competitiveness by increasing R&D investment in the new energy and energy storage fields[128]. - The company is exploring potential mergers and acquisitions to enhance its competitive edge and diversify its service offerings in the energy sector[200]. - The company expects revenue growth of 20% for the next fiscal year, driven by new product launches and market expansion strategies[156]. Compliance and Commitments - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties during the reporting period[149]. - The company has established measures to automatically extend the lock-up period if the stock price falls below the issuance price during the specified time[149]. - The company has committed to not engaging in any competitive business activities that may affect its operations[151]. - The company has outlined a plan for addressing any overdue commitments, although none are currently applicable[161]. - The company has established a framework for accountability among its directors and senior management regarding their commitments[161].