DAYE(SZ:300879)2021-04-19 16:00Financial Performance - The company reported a total revenue of RMB 160 million for the year 2020, representing a year-on-year increase of 15%[1]. - The net profit attributable to shareholders was RMB 20 million, an increase of 10% compared to the previous year[1]. - The company's operating revenue for 2020 was CNY 1,001,115,503.78, representing a 1.36% increase compared to CNY 987,687,714.01 in 2019[19]. - The net profit attributable to shareholders for 2020 was CNY 76,701,625.69, a decrease of 5.87% from CNY 81,482,450.29 in 2019[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 50,572,093.02, down 32.78% from CNY 75,231,308.66 in 2019[19]. - The net cash flow from operating activities was CNY 133,503,434.23, a significant increase of 407.36% compared to -CNY 43,434,828.67 in 2019[19]. - The total assets at the end of 2020 were CNY 1,829,052,817.76, reflecting a 19.87% increase from CNY 1,525,849,557.72 at the end of 2019[19]. - The net assets attributable to shareholders increased by 92.12% to CNY 919,262,808.91 at the end of 2020, up from CNY 478,480,264.15 at the end of 2019[19]. - The basic earnings per share for 2020 were CNY 0.59, a decrease of 13.24% from CNY 0.68 in 2019[19]. - The weighted average return on equity was 12.62%, down from 18.61% in 2019, indicating a decline in profitability[19]. Dividend Policy - The company plans to distribute a cash dividend of RMB 1 per 10 shares, totaling RMB 16 million based on 160 million shares[5]. - The total cash dividend proposed is RMB 16,000,000, which represents 20.86% of the net profit attributable to shareholders[141]. - The cash dividend per 10 shares is set at RMB 1.0, with a total share base of 160,000,000 shares[139]. - The company has a cash dividend policy that mandates a minimum payout ratio of 20% for companies in a growth phase with significant capital expenditure plans[136]. - The cumulative distributable profit as of December 31, 2020, is RMB 278,799,518.29[138]. - The company did not implement cash dividends in 2018 and 2019, indicating a return to profit distribution in 2020[140]. - The company plans to retain RMB 289,965,480.15 of undistributed profits for future distribution[139]. - The company has complied with its cash dividend policy and the relevant regulations during the reporting period[136]. Market Expansion and Strategy - The company is focusing on expanding its market presence in Southeast Asia, targeting a 30% increase in market share by 2022[1]. - Future guidance estimates a revenue growth of 20% for 2021, driven by new product launches and market expansion efforts[1]. - The company plans to establish a wholly-owned subsidiary in Singapore and two subsidiaries in Thailand with a total investment of USD 10 million to enhance its international market presence[70]. - The company will increase its investment in its wholly-owned subsidiary in the U.S. by USD 7 million to build an overseas warehouse and logistics system[70]. - The company aims to enhance its R&D capabilities by increasing investment in research facilities and focusing on the development of lithium battery-powered and intelligent landscaping equipment[120]. - The company plans to establish a global marketing network and deepen collaborations with brand clients to enhance its position in the global landscaping machinery industry[121]. - The company will promote its own brands, such as "MOWOX," in the European market, aiming to increase brand awareness and influence globally[122]. Research and Development - The company has developed 139 patents, including 69 invention patents, showcasing its strong R&D capabilities in the garden machinery sector[28]. - The company's R&D expenses for 2020 reached ¥47.33 million, a 9.52% increase from 2019, highlighting its commitment to innovation[60]. - The company emphasizes the importance of continuous investment in R&D to maintain its competitive edge in product development and innovation[127]. - The company’s focus on technological innovation and quality control has been a key driver of its performance growth[49]. Customer Base and Sales - User data indicated a growth in customer base by 25%, reaching a total of 200,000 active users by the end of 2020[1]. - The company sold 998,300 units in the garden machinery sector, a year-on-year increase of 7.10%[79]. - The overseas sales accounted for 94.42% of total operating revenue, while domestic sales increased by 34.34% to CNY 55.89 million[78]. - The total sales amount from the top five customers was ¥665,023,947.69, representing 66.43% of the annual total sales, with the largest customer contributing ¥269,801,612.00 or 26.95%[86]. Risk Management - The company has identified key risks including market competition and supply chain disruptions, with strategies in place to mitigate these risks[5]. - The company faces innovation and technology risks due to increasing consumer demands for efficiency, safety, and environmental standards in landscaping machinery[126]. - The company is actively seeking to diversify its export markets to mitigate risks associated with international trade and currency fluctuations[124]. Corporate Governance and Compliance - The company has established a stable and sustainable profit distribution policy, ensuring that cash distributions account for at least 30% of the average distributable profit over the past three years[133]. - The company has committed to not transferring or managing shares held prior to the public offering for one year post-listing, with an extension of six months if stock prices fall below the offering price for 20 consecutive trading days within six months[144]. - The company has established a commitment to disclose any related transactions in a timely manner, ensuring transparency[145]. - The company has committed to strictly adhere to the Company Law and Securities Law, ensuring shareholder rights and board decision-making processes are followed[148]. Social Responsibility - The company actively participated in social responsibility initiatives during the COVID-19 pandemic, including donating medical protective clothing valued at over 40,000 euros[183]. - The company has not conducted any targeted poverty alleviation work during the reporting year and has no subsequent plans[187]. Legal and Regulatory Matters - The company is currently involved in anti-dumping and countervailing investigations by the U.S. Department of Commerce regarding its gasoline lawn mowers, with a preliminary countervailing duty rate of 14.68%[162]. - The company has not reported any penalties or rectifications during the reporting period[163]. - The company has not experienced any non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[155].