*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%[15]. - The net profit attributable to shareholders was RMB 150 million, an increase of 20% compared to the previous year[15]. - The company's operating revenue for 2020 was ¥333,545,725.89, a decrease of 13.80% compared to ¥386,966,433.79 in 2019[20]. - The net profit attributable to shareholders was ¥8,019,626.33, a significant recovery from a loss of ¥840,642,154.97 in 2019, marking a 100.95% improvement[20]. - The company achieved a net profit of 8,019,626.33 yuan in 2020, a year-on-year increase of 100.95%[40]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the year, representing a growth of 20% compared to the previous year[46]. - The company reported a net loss of 628,024,669.50 yuan for the year 2020, with no cash dividends distributed[162]. - The company has not issued cash dividends or bonus shares in the past three years, maintaining a 0.00% dividend payout ratio[164]. Research and Development - The company plans to invest RMB 200 million in R&D for new energy technologies in 2021, focusing on electric drive systems[15]. - The company has developed multiple core technologies in the field of new energy vehicle powertrains, leveraging its R&D capabilities[43]. - Research and development efforts led to the introduction of 20 new patents related to electric vehicle transmission systems, enhancing the company's competitive edge in the market[47]. - The company has applied for a total of 444 intellectual property rights, with 275 granted as of the end of the reporting period[44]. - The company has developed a five-in-one motor controller for pure electric logistics vehicles, currently in the optimization design phase[105]. - The company is committed to increasing its R&D investment to maintain core competitiveness and innovate its product offerings[148]. Market Expansion and Strategy - The company has outlined a market expansion strategy targeting Southeast Asia, aiming for a 30% increase in market share by 2023[15]. - The company plans to expand its market presence in Europe and North America, targeting a 15% market share in these regions by 2023[46]. - The company is focusing on market expansion in commercial and specialized vehicles, enhancing its competitive position in these sectors[79]. - The company is actively expanding its customer base, reducing reliance on single customers, and has established partnerships with over 100 vehicle model projects[79]. Product Development and Launches - New product launches are expected in Q3 2021, including a next-generation electric drive system[15]. - The company aims to launch three new electric vehicle models in 2021, which are anticipated to contribute an additional 500 million RMB in revenue[46]. - The company has developed a full range of new energy powertrain solutions for passenger vehicles, with motor power ranging from 40KW to 150KW, suitable for various micro, small, and medium-sized vehicles[69]. - The company has introduced an integrated electric drive solution for passenger vehicles, combining motor, controller, and reducer into a compact design, enhancing performance and reliability[74]. Financial Management and Investments - No cash dividends will be distributed for the fiscal year 2020, as the company aims to reinvest profits into growth initiatives[7]. - The company has received government subsidies amounting to ¥107,150,809.93 in 2020, compared to ¥53,294,655.14 in 2019, indicating increased support[26]. - The company reported a significant increase in investment cash flow, with a net cash flow from investment activities of CNY 131,251,027.62, compared to -CNY 26,256,054.58 in 2019, a 599.89% increase[107]. - The company has temporarily supplemented working capital with idle raised funds totaling RMB 216 million, with a usage period not exceeding 12 months from the board's approval date[135]. Operational 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[30]. - The company faces risks related to changes in government policies affecting the new energy vehicle market, which could impact production and operations[149]. - The company is exposed to financial risks due to significant accounts receivable and negative operating cash flow, indicating liquidity risks[153]. - The company anticipates increased competition in the electric vehicle industry, leading to potential product price declines[152]. Corporate Governance and Compliance - The actual controller and shareholders fulfilled their commitments during the reporting period, with ongoing commitments related to share lock-up agreements[166]. - The company has committed to adhere to the restrictions on the circulation of shares and voluntary lock-up agreements for its pre-IPO shares[171]. - The company’s financial report does not indicate any non-standard audit reports for the current period[176]. - The company has not reported any significant changes in the measurement attributes of its major assets during the reporting period[114].