HAOYANG(SZ:300833)2021-04-28 16:00Financial Performance - The company's revenue from the European and American markets decreased to RMB 26,164.55 million in 2020, a decline of 59.70% year-on-year from RMB 64,923.11 million[6]. - The company's operating revenue for 2020 was ¥399,686,012.70, a decrease of 52.70% compared to ¥845,061,468.13 in 2019[28]. - The net profit attributable to shareholders for 2020 was ¥88,126,585.11, down 55.09% from ¥196,248,550.04 in 2019[28]. - The net profit after deducting non-recurring gains and losses was ¥78,082,135.73, a decline of 59.13% compared to ¥191,027,203.11 in 2019[28]. - The net cash flow from operating activities was ¥55,752,517.53, a decrease of 66.80% from ¥167,950,816.68 in 2019[28]. - The basic earnings per share for 2020 were ¥1.1666, down 62.40% from ¥3.1030 in 2019[28]. - The weighted average return on net assets was 6.80%, a decrease of 27.65% from 34.45% in 2019[28]. - The gross profit margin for stage entertainment lighting equipment was 46.00%, reflecting a decrease of 2.19% compared to the previous year[76]. - Domestic sales amounted to CNY 110,384,960.06, a decrease of 14.45% year-on-year, while international sales were CNY 289,301,052.64, down 59.60% year-on-year[76]. Market Outlook - Despite the impact of COVID-19, the company believes that the demand for stage lighting equipment will gradually recover as the pandemic improves globally[6]. - The stage entertainment lighting equipment market in China is expected to recover gradually as the pandemic situation improves, with a strong long-term demand despite short-term uncertainties[121]. - The overall scale of China's performance market increased from 46.922 billion yuan in 2016 to 51.411 billion yuan in 2018, maintaining an annual growth rate of approximately 4%-5%[124]. - The demand for digital and intelligent lighting products is increasing, with a focus on safety, stability, and user-friendliness in stage lighting systems[127]. Business Strategy - The company is focused on improving profitability and responding to the challenges posed by the pandemic[6]. - The company is exploring market expansion opportunities and potential mergers and acquisitions to strengthen its business[6]. - The company plans to expand its production capacity and optimize product structure to meet market demands and enhance sustainable development capabilities[131]. - The company aims to increase R&D investment and strengthen external collaborations to enhance its technological capabilities and product development efficiency[132]. - The company plans to strengthen brand building and enhance the industry visibility of "TERBLY" and "AYRTON" through its listing opportunity[133]. - Internationally, the company will consolidate and further develop overseas ODM clients, while expanding OBM business through subsidiaries in France and Germany[133]. Research and Development - The company continues to invest in new product development and technology to enhance its market position[6]. - The company invested CNY 31,111,547.39 in R&D, representing 7.78% of its operating revenue in 2020, an increase from 5.02% in 2019[91]. - The number of R&D personnel increased to 131, accounting for 16.38% of the total workforce, up from 12.68% in 2019[91]. - The company launched the SMART series products and developed ultraviolet disinfection lamps, which received CE and ETL certifications, expanding its product offerings[67][70]. Cash Dividend Policy - The company plans to distribute a cash dividend of RMB 4 per 10 shares to all shareholders, based on a total of 84,327,000 shares[10]. - The cash dividend represents 38.28% of the net profit attributable to ordinary shareholders, which was RMB 88,126,585.11 for the year 2020[155]. - The cash dividend distribution plan is subject to approval at the 2020 annual general meeting[155]. - The company has maintained a consistent cash dividend policy over the past three years, with no dividends distributed in 2018 and 2019[155]. Financial Stability - The company has not reported any major adverse changes in other key financial indicators, indicating overall financial stability[6]. - The company has not encountered any issues with the disclosure of the use of raised funds, ensuring timely and accurate reporting[117]. - The company has not reported any changes in the projects funded by the raised capital during the reporting period[118]. - The company has not sold any significant assets or equity during the reporting period[119][120]. Innovation and Technology - The company holds 488 valid patents, including 50 invention patents, 264 utility model patents, and 174 design patents as of December 31, 2020[56]. - The company has developed multiple proprietary technologies in stage lighting equipment and has participated in significant events such as the 2008 Beijing Olympics and the 2010 Shanghai Expo[42]. - The company is recognized as a key enterprise in cultural exports and has received various industry accolades, enhancing its market position[43]. Operational Efficiency - The company aims to improve operational efficiency, targeting a 5% reduction in production costs by optimizing supply chain management[176]. - The company has established a strong management system and supply chain, enabling it to quickly adapt to customer needs and market demands[61]. - The company emphasizes quality control in its outsourcing processing, implementing strict supplier admission criteria and ongoing management measures[45]. Risk Management - The company recognizes the risk of core technical personnel turnover and potential leakage of core technologies, which could adversely affect its competitive edge[147]. - The company is actively monitoring the ongoing impact of the COVID-19 pandemic on large cultural events, which could adversely affect the demand for performance equipment[138].