Hiecise(SZ:300809)2021-04-23 16:00Financial Performance - The company achieved a net profit attributable to shareholders of 33.54 million yuan in 2020, a decrease of 76.27% year-on-year[5]. - The company's operating revenue for 2020 was ¥230,639,809.66, a decrease of 45.73% compared to ¥424,957,757.65 in 2019[23]. - The net profit attributable to shareholders for 2020 was ¥33,543,528.02, down 76.27% from ¥143,024,072.64 in 2019[23]. - Basic earnings per share for 2020 were ¥0.21, a decrease of 82.50% compared to ¥1.22 in 2019[23]. - The net cash flow from operating activities was ¥98,795,013.51, representing a decline of 34.68% from ¥151,310,941.47 in 2019[23]. - The weighted average return on equity for 2020 was 2.42%, a decrease of 20.27% from 22.92% in 2019[23]. - The total assets at the end of 2020 were ¥1,875,583,801, an increase of 11.83% from ¥1,674,090,405 in 2019[25]. - The net assets attributable to shareholders at the end of 2020 were ¥1,391,367,611.94, a slight increase of 0.35% from ¥1,386,586,300.55 in 2019[25]. - The company reported a total of ¥50,688,894.13 in contract assets as of December 31, 2020, indicating ongoing project commitments[163]. Revenue and Market Dynamics - The significant decline in revenue was attributed to global pandemic impacts, including delivery delays and logistical challenges, affecting both production and installation processes[5]. - The company achieved operating revenue of CNY 230.64 million, a decrease of 45.73% compared to the same period last year[36]. - The general equipment manufacturing industry accounted for 99.15% of total revenue, with a revenue of ¥228,685,195.29, down 45.89% from ¥422,613,987.12 in 2019[52]. - Domestic revenue was ¥227,049,341.53, making up 98.44% of total revenue, down 43.82% from ¥404,132,088.11 in 2019[52]. - The company experienced a 49.35% decrease in sales volume, with only 39 units sold compared to 77 units in 2019[58]. Operational Adjustments and Strategies - The company implemented measures to adapt to changing economic conditions, enhancing its ability to respond to various business challenges[5]. - The company aims to transition into a high-end grinding application solution provider, responding to the increasing demand for quality in metal plate processing[36]. - The company plans to expand its business scale to meet the growing demand from downstream customers, focusing on the rolling mill grinding equipment industry[116]. - The company aims to increase R&D investment to explore cutting-edge technologies and develop new high-end products, targeting the high-precision processing needs of industries such as automotive and aerospace[118]. - The company intends to enhance its technological and product advantages through the development of new technologies, processes, and materials, aiming to improve production efficiency and product quality[120]. Research and Development - The company applied for 10 new patents during the reporting period, with 5 granted, including 1 invention patent[47]. - The company has accumulated 59 patents and 8 software copyrights as proprietary technology[47]. - The company initiated 12 R&D projects in 2020, focusing on new product development and key technology breakthroughs[69]. - Research and development expenses increased by 14.78% to ¥19,261,245.66, representing 8.35% of operating revenue[71]. Dividend and Profit Distribution - The profit distribution plan approved by the board includes a cash dividend of 2 yuan per 10 shares (before tax) based on a total of 156,920,000 shares[7]. - The company reported a cash dividend of 31,384,000.00 CNY, which represents 100% of the total profit distribution amount[133]. - The company has a total distributable profit of 273,872,886.76 CNY, indicating a strong financial position for future investments[133]. - The cash dividend for 2020 is subject to approval at the upcoming shareholders' meeting[136]. Government Support and Subsidies - The company received government subsidies amounting to ¥8,139,689.21 in 2020, up from ¥4,226,950.94 in 2019[30]. Market Position and Competition - The company held a 44% market share in the CNC roll grinding machine sector in 2019, ranking first in China and third globally[40]. - The company has established a leading position in the domestic CNC roll grinding machine manufacturing sector, with a stable customer base and a nationwide sales service team[121]. - The company faces risks from intensified market competition and plans to expand its marketing reach while improving production management and service quality[124]. Compliance and Governance - The company has committed to ensuring that related party transactions do not harm the interests of all shareholders and will adhere to fair pricing principles[147]. - The company has not faced any non-standard audit reports during the reporting period, indicating a clean audit outcome[161]. - The company has adhered to all commitments made to minority shareholders without any overdue obligations[157]. - The company has established measures to protect against dilution of immediate returns for shareholders, including commitments from directors and senior management[153]. Environmental Compliance - The company has strictly complied with environmental laws and regulations, with no environmental pollution incidents or administrative penalties reported during the reporting period[200].