TODAYTEC(SZ:300743)2021-04-26 16:00Financial Performance - The company's operating revenue for 2020 was CNY 420,130,953.51, an increase of 1.14% compared to CNY 415,402,536.37 in 2019[20]. - The net profit attributable to shareholders for 2020 was CNY 22,711,299.20, a decrease of 14.27% from CNY 26,490,829.47 in 2019[20]. - The net profit after deducting non-recurring gains and losses was CNY 12,905,169.27, down 44.40% from CNY 23,209,722.00 in 2019[20]. - The net cash flow from operating activities increased by 121.93% to CNY 48,043,326.36 from CNY 21,647,852.80 in 2019[20]. - Total assets at the end of 2020 were CNY 582,028,757.61, an increase of 11.92% from CNY 520,062,278.91 at the end of 2019[20]. - The company's basic earnings per share for 2020 was CNY 0.23, a decrease of 14.81% from CNY 0.27 in 2019[20]. - The company reported a total revenue of 1.5 billion RMB for the year 2020, representing a year-over-year growth of 15%[113]. - The gross margin improved to 45%, up from 40% in the previous year, due to cost optimization strategies[114]. Dividend Policy - The company reported a cash dividend of 3 RMB per 10 shares (including tax) based on a total of 98,887,900 shares[8]. - The cash dividend represents 130.62% of the net profit attributable to ordinary shareholders for the year 2020[111]. - The cash dividend payout ratio for 2020 is 100% of the total distributable profit of CNY 102,355,720.86[108]. - The company has maintained a consistent dividend policy, with cash dividends of CNY 19,631,400 in 2019 and CNY 32,719,000 in 2018[111]. - The company has not made any adjustments to its cash dividend policy during the reporting period[107]. Research and Development - The company is focused on developing new products to meet the diverse needs of its customers across different sectors[4]. - The company has a significant reliance on professional technical talent for its new technology and product development[5]. - The company invested a total of 14,721,830.97 CNY in R&D in 2020, accounting for 3.50% of its operating revenue[65]. - The number of R&D personnel increased to 73 in 2020, representing 13.85% of the total workforce[65]. - The company plans to continue its investment strategy focusing on high-performance materials and global market expansion[85]. - The company aims to accelerate the R&D of high-end products to strengthen its leading position in the domestic market and enhance international competitiveness[91]. Market Presence and Strategy - The company has established subsidiaries in the US, UK, India, Mexico, Brazil, and Canada, enhancing its global presence and local sales capabilities[39]. - The company has implemented a global localization strategy to reduce distribution costs and enhance competitiveness in major economies[48]. - The company has a strong cost advantage through technological innovation and efficient management, allowing it to maintain competitive pricing in international markets[36]. - The company has expanded its market presence and improved operational efficiency through strategic investments and partnerships[164]. - Market expansion efforts led to a 25% increase in market share in the Asia-Pacific region[115]. Risks and Challenges - The company faces significant risks related to international trade, including political instability and economic fluctuations in overseas markets[7]. - The company’s overseas sales are significantly impacted by exchange rate fluctuations, particularly as a large portion of revenue is denominated in USD[8]. - The company highlights the risk of core technology leakage and loss of key technical personnel, which could adversely affect its operations and innovation[5]. Corporate Governance and Compliance - The company’s financial report is guaranteed to be true, accurate, and complete by its board and management, ensuring accountability[3]. - The company has committed to improving its governance structure and internal controls to reduce operational risks and protect investor interests[97]. - The company actively complied with legal regulations to protect shareholder rights and ensure transparent communication[157]. - The company has a long-term commitment to protect investors' rights and interests, including potential compensation for any losses incurred due to non-fulfillment of commitments[122]. Employee and Management - The company has established a talent reserve mechanism to ensure a stable management team for its global expansion[99]. - The company emphasizes the importance of employee career planning and communication to stabilize its workforce[102]. - The company maintained a stable core employee team through a combination of internal talent development and external recruitment[50]. - The company has a strong leadership team with extensive experience in the technology and engineering sectors, including the current general manager and chairman, Han Qiong, who has been with the company since 2005[197]. Legal Matters - The company faced a significant lawsuit regarding the invalidation of its invention patent for "hot melt coating mixed base thermal transfer ribbon and its production method," with the case being heard in court since January 2, 2019[127]. - The company was ordered to correct issues related to the use of unqualified special equipment, resulting in a fine of CNY 220,000[128]. Financial Management - The company has engaged in various financial management strategies with a focus on maximizing returns while managing risks[151]. - The total amount raised through various financial instruments was 54,095.16 million[153]. - The company is actively monitoring market conditions to adjust its investment strategies accordingly[153]. - The company has a strategy to enhance its investment management capabilities through new financial products[153]. Shareholder Information - The total number of shares increased from 98,157,000 to 98,887,900, with a new issuance of 730,900 shares[170]. - The major shareholders include Pan Pudun with 14.49% ownership, Liu Jianhai with 12.27%, and Han Qiong with 10.13%, with Han Qiong having 1,670,000 shares pledged[182]. - The total number of shareholders increased from 9,420 to 9,917 during the reporting period[181]. - The controlling shareholder is Han Qiong, a natural person, with no changes in control during the reporting period[184].