卡倍亿(300863) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥1,263,873,143.58, representing a 38.41% increase compared to ¥913,121,311.01 in 2019[18]. - The net profit attributable to shareholders for 2020 was ¥52,905,644.68, a decrease of 12.33% from ¥60,349,590.85 in 2019[18]. - The net profit after deducting non-recurring gains and losses was ¥32,516,156.08, down 40.22% from ¥54,390,979.30 in 2019[18]. - The total assets at the end of 2020 amounted to ¥1,195,237,441.10, an increase of 83.84% from ¥650,166,979.86 at the end of 2019[18]. - The company's cash flow from operating activities was negative at -¥272,895,099.90, a decline of 405.15% compared to ¥89,430,840.49 in 2019[18]. - The basic earnings per share for 2020 was ¥1.15, down 21.23% from ¥1.46 in 2019[18]. - The company reported a weighted average return on equity of 12.91%, a decrease of 8.55% from 21.46% in 2019[18]. - The company achieved operating revenue of 1,263.87 million yuan, a year-on-year increase of 38.41%[51]. - The net profit attributable to shareholders was 52.91 million yuan, a year-on-year decrease of 12.34%[51]. - Total assets as of December 31, 2020, were CNY 1,195.24 million, reflecting an 83.84% year-on-year growth[66]. Shareholder Information - The company reported a profit distribution plan of 3.5 RMB per 10 shares (including tax) for a total of 55,230,000 shares[5]. - The cash dividend represents 36.54% of the net profit attributable to ordinary shareholders, which is 52,905,644.68 CNY for the year 2020[147]. - The total distributable profit for the year is 234,895,305.63 CNY, with the cash dividend amounting to 100% of the profit distribution[144]. - The company did not distribute any dividends in 2018 and 2019, marking 2020 as the first year of cash dividend distribution[145]. - The cash dividend proposal is subject to approval at the company's 2020 annual general meeting[145]. Corporate Structure and Operations - The company operates multiple wholly-owned subsidiaries, including Chengdu KBE and Benxi KBE, enhancing its operational footprint[9]. - The company has established long-term partnerships with major automotive wiring harness manufacturers, including Aptiv, Yazaki, and Lear, supplying to leading automotive manufacturers like Volkswagen, BMW, and Ford[52]. - The company has a dedicated investor relations email for shareholder inquiries, indicating a focus on communication[14]. - The company has appointed a specific accounting firm for its financial audits, ensuring compliance and transparency[16]. - The company has established a wholly-owned subsidiary in Hong Kong, expanding its consolidation scope[86]. Market Position and Products - The company specializes in the research, production, and sales of automotive cables, including conventional cables, aluminum cables, and new energy cables[27]. - The company is positioned as a secondary supplier in the automotive supply chain, providing cable solutions to primary suppliers after obtaining product certification from automotive manufacturers[27]. - The company primarily supplies various specifications and standards of automotive cables to harness manufacturers, generating revenue through this supply chain model[34]. - The company has established itself as a qualified supplier for major automotive manufacturers including Volkswagen, General Motors, Ford, BMW, and Toyota[44]. - The company focuses on maintaining stable product quality and comprehensive after-sales service to secure and increase order volumes from existing customers[44]. Research and Development - The company holds 32 patents and 3 software copyrights, reflecting its commitment to innovation and technology development[62]. - The company focused on R&D in high-voltage cables for new energy vehicles and intelligent connected vehicles, enhancing its competitive edge[71]. - The company plans to invest 100 million RMB in R&D for new technologies over the next year[150]. - The company aims to gradually achieve import substitution for high-voltage cables used in electric vehicles, focusing on domestic production of XLPE and silicone rubber cables[122]. Risks and Challenges - The company faces risks related to product technology innovation, as increasing performance requirements for automotive cables necessitate ongoing technical advancements[131]. - The company is exposed to operational risks due to cyclical fluctuations in the automotive industry, which could adversely affect its revenue from automotive cable sales[132]. - The company's raw material costs, particularly copper, account for over 85% of its main business costs, making it vulnerable to price fluctuations[133]. - High customer concentration poses a risk, as the top five customers account for a significant portion of sales, potentially impacting the company's bargaining power[136]. - The company is at risk of inventory depreciation due to increased inventory levels as it scales, which could lead to financial losses if market prices decline[137]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25%[150]. - The company plans to strengthen its core competitiveness by continuously improving product processes and developing insulation material formulas, targeting sustained growth in main business revenue[124]. - The company intends to expand its market share by enhancing product quality and actively pursuing potential customers in the new energy vehicle and intelligent connected vehicle sectors[126]. Compliance and Governance - The company has fulfilled all commitments made by its actual controllers and shareholders during the reporting period[148]. - The company has not issued a non-standard audit report for the reporting period[154]. - The company appointed Lixin Accounting Firm as its auditor, with an audit fee of 700,000 RMB and a continuous service period of 8 years[155]. - There were no significant lawsuits or arbitration matters during the reporting period[157].