Increase(SZ:300713)2021-04-26 16:00Financial Performance - The company's operating revenue for 2020 was ¥265,649,877.86, a decrease of 8.21% compared to ¥289,420,348.65 in 2019[16]. - The net profit attributable to shareholders for 2020 was ¥28,384,291.44, representing a significant increase of 232.46% from a loss of ¥21,428,449.62 in 2019[16]. - The net cash flow from operating activities was ¥39,995,220.17, down by 29.98% from ¥57,123,776.14 in the previous year[16]. - The basic earnings per share for 2020 was ¥0.1979, compared to a loss of ¥0.1494 per share in 2019, marking a 232.46% improvement[16]. - The total assets at the end of 2020 were ¥926,196,289.39, a decrease of 6.15% from ¥986,866,129.13 at the end of 2019[16]. - The net assets attributable to shareholders increased by 3.47% to ¥720,263,565.35 at the end of 2020, up from ¥696,131,346.11 in 2019[16]. - The company reported a significant reduction in net profit after deducting non-recurring gains and losses, with a net loss of ¥3,326,110.41 in 2020 compared to a loss of ¥37,392,208.53 in 2019, an improvement of 91.10%[16]. - The weighted average return on equity for 2020 was 4.00%, a recovery from -3.09% in 2019[16]. - The company's total operating costs in 2020 were ¥178,585,517.06, a decrease of 9.66% from ¥197,662,031.10 in 2019[77]. Revenue Breakdown - The revenue from the electric vehicle industry was ¥125,729,766.13, representing 47.33% of total revenue, down 25.22% from ¥168,143,102.92 in 2019[69]. - The revenue from the other power supply industry increased by 57.41% to ¥53,265,027.94, compared to ¥33,838,531.16 in 2019[69]. - The sales volume in the electric power industry increased by 13.14% to 44,795 units, while the sales volume in the electric vehicle industry decreased by 25.72% to 56,119 units[73]. - The company maintained a gross margin of 40.87% in the electric power industry, which is a decrease of 0.40% from the previous year[72]. R&D and Innovation - R&D investment for 2020 was ¥52.55 million, accounting for 19.78% of operating revenue, a slight decrease of 2.04% from 2019[61]. - As of December 31, 2020, the company had 176 R&D personnel, representing 35.63% of total employees[50]. - The company focuses on optimizing technologies and applications for DC operation power supplies and fast charging power supplies[58]. - The company is committed to expanding its market presence and improving its product offerings through ongoing research and development efforts[66]. - The company plans to continue product upgrades in automotive charging power products, focusing on optimizing performance indicators such as power density and output power range[46]. Market and Competitive Landscape - The company highlighted potential risks in its future operations, which investors should be aware of[4]. - The competitive landscape in the electric vehicle charging industry is intensifying, prompting the company to expand its market share through product innovation and comprehensive solutions[126]. - The company aims to leverage opportunities in the new infrastructure sector, particularly in electric vehicle charging and power electronics, to drive growth[116]. - The company is focused on developing high-performance power electronic products, including electric vehicle charging power supplies and high-voltage direct current communication power supplies[117]. Financial Management and Governance - The company is actively enhancing internal governance and compliance operations to protect investor interests[60]. - The company has not reported any significant discrepancies between financial data under international and Chinese accounting standards during the reporting period[20]. - The company has established a strict accounts receivable management system to mitigate the risk of bad debts, ensuring timely collection of payments from reputable clients[128]. - The company is committed to strengthening its management structure and governance to adapt to its expanding scale and operational complexity[129]. Shareholder and Dividend Policies - The company did not propose any cash dividends for 2020, maintaining a cash dividend ratio of 0.00%[138]. - The profit distribution plan for 2020 includes a capital reserve increase of 1 share for every 10 shares held, based on a total share capital of 143,437,500 shares[134]. - The company has not distributed any cash dividends in the past three years, with the last cash dividend declared in 2018[138]. - The company plans to distribute at least 20% of its distributable profits in cash dividends annually, with a cumulative cash distribution over the last three years not less than 30% of the average annual distributable profits[148]. Strategic Initiatives - The company plans to increase R&D investment and expand business channels in response to market demands and government initiatives[116]. - The company aims to enhance its talent acquisition and development strategy to meet rapid growth needs, focusing on attracting and nurturing leading talents in R&D, marketing, and management[120]. - The company is committed to sustainability initiatives, aiming for a 20% reduction in carbon footprint by 2025[180]. Operational Challenges - The company’s charging pile product orders decreased compared to the previous year due to intense market competition and rising raw material prices[45]. - The company faces risks from fluctuating raw material prices, which could impact gross margins and profitability, and plans to innovate and reduce costs to maintain margin stability[125]. - The net profit attributable to shareholders after deducting non-recurring gains was -6,629,978.77 in Q4, highlighting ongoing challenges in profitability[19]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 20% to 1.8 billion RMB[143]. - Future guidance suggests a revenue target of 500 million for 2021, representing a 10% increase from 2020[178]. - The company plans to enter new international markets, targeting a 5% market share within the first year of entry[178].