*ST越博(300742) - 2020 Q4 - 年度财报

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2020, representing a year-on-year increase of 15%[13] - The net profit attributable to shareholders was RMB 150 million, which is a 10% increase compared to the previous year[13] - The company achieved a net profit of 8,019,626.33 yuan in 2020, a year-on-year increase of 100.95%[39] - The company reported a basic earnings per share of ¥0.10, a significant recovery from -¥10.71 in 2019, reflecting a 101.12% change[18] - The company reported a total revenue of 20,960,500,000 CNY for the year 2020, reflecting a growth of 24.48% compared to the previous year[121] - The company reported a net profit margin of 6.81% for the fiscal year 2020[121] - The company achieved a revenue of ¥333,545,725.89, with a net profit of ¥8,019,626.33, marking a year-on-year growth of 100.95%[77] Research and Development - The company plans to invest RMB 200 million in R&D for new energy technologies in 2021, aiming to enhance product offerings and market competitiveness[13] - The company has applied for a total of 444 intellectual property rights, with 275 granted as of the end of the reporting period[43] - The company has developed a total of 111 patents related to electric vehicle powertrains and control technologies, indicating a strong focus on innovation in this sector[46] - The company is focusing on the research and development of advanced gearbox systems, which are crucial for the performance of electric and hybrid vehicles[46] - The company is actively pursuing partnerships with universities to strengthen its R&D capabilities and accelerate the conversion of research results into products[157] Market Expansion and Strategy - The company has outlined a future outlook with a revenue growth target of 20% for 2021, driven by new product launches and market expansion[13] - The company is focusing on expanding its market presence in Southeast Asia, with plans to establish a regional office in Singapore by mid-2021[13] - The company is exploring potential acquisitions to strengthen its competitive position in the industry, with a budget of 500 million RMB allocated for this purpose[168] - The company aims to expand its market presence by enhancing its product offerings in the electric vehicle sector, targeting a growing demand for sustainable transportation solutions[46] - The company plans to enhance its core competitiveness by reducing credit terms and strengthening accounts receivable collection efforts[152] Production and Capacity - The company has reported a significant increase in production capacity, now reaching 100,000 units annually, up from 80,000 units in 2019[13] - The production and sales volume of the powertrain systems reached 13,661 sets and 4,465 sets, with year-on-year changes of -34.36% and 122.89% respectively[39] - The sales volume of pure electric powertrain systems reached 4,465 units, a decrease of 34.36% compared to the previous year, while production increased by 122.89% to 13,661 units[81] Financial Management and Investments - No cash dividends will be distributed to shareholders for the fiscal year 2020, as the company aims to reinvest profits into growth initiatives[5] - The company has made significant investments in R&D, with a particular emphasis on improving the efficiency of electric vehicle drivetrains[46] - The company has invested 10 million yuan in Fubo Electromechanical, increasing its stake to 51%, thereby consolidating control over the subsidiary[70] - The company has committed to invest a total of RMB 42,113.35 million in new energy vehicle powertrain projects, with a cumulative investment of RMB 19,756.07 million, representing 46.9% of the total commitment[132] Challenges and Risks - The automotive industry faced challenges in 2020, with a 2% decline in production and a 1.9% decline in sales, but the company anticipates growth in the new energy vehicle market[28] - The company faces risks related to raw material supply and price fluctuations, particularly for permanent magnet synchronous motors and their controllers[150] - The company anticipates increased competition in the new energy vehicle industry, which may lead to a decline in product prices as the market matures[151] Subsidiaries and Acquisitions - The company sold its wholly-owned subsidiary, Henan Changxing Intelligent Power Technology Co., Ltd., to optimize resource allocation and focus on core business, enhancing overall competitiveness[69] - The company established a wholly-owned subsidiary, Nanjing Yuebo Communication Technology Co., Ltd., to enter the electronic communication field, aiming to cultivate new business growth points[66] - The company established new subsidiaries, including 越博通信 and 陕西越博, which had no significant impact on overall operations and performance[142] Sustainability and Innovation - The management emphasized a commitment to sustainability, with plans to invest 100 million RMB in eco-friendly technologies[167] - The company is committed to sustainability and aims to lead in the development of innovative solutions for electric vehicles, aligning with global trends towards greener technologies[46] - The company is focusing on improving its management system and internal controls to mitigate operational risks associated with its complex organizational structure[154]