KingShine(SZ:300903)2021-03-24 16:00Financial Performance - The company reported a total revenue of RMB 172,337,694 for the year 2020, with a cash dividend of RMB 0.65 per 10 shares distributed to shareholders[6]. - The company's operating revenue for 2020 was ¥1,602,150,265.49, representing a 20.60% increase compared to ¥1,328,450,635.22 in 2019[18]. - The net profit attributable to shareholders for 2020 was ¥105,033,801.80, a 40.12% increase from ¥74,961,825.49 in 2019[18]. - The net cash flow from operating activities for 2020 was ¥88,368,108.55, up 21.88% from ¥72,505,289.22 in 2019[18]. - The total assets at the end of 2020 amounted to ¥2,251,971,831.23, a 63.79% increase from ¥1,374,942,137.39 at the end of 2019[18]. - The net assets attributable to shareholders at the end of 2020 were ¥1,147,015,572.84, reflecting a 112.28% increase from ¥540,327,460.17 at the end of 2019[18]. - The basic earnings per share for 2020 was ¥0.7907, a 36.33% increase from ¥0.5800 in 2019[18]. - The company reported a total of ¥10,767,644.75 in non-recurring gains and losses for 2020[24]. - The total operating revenue for 2020 was ¥1,602,150,265.49, representing a year-on-year increase of 20.60% compared to ¥1,328,450,635.22 in 2019[60]. - PCB manufacturing accounted for 97.10% of total revenue, with revenue of ¥1,555,617,597.11, up 20.36% from ¥1,292,431,670.59 in 2019[60]. - Domestic sales contributed 89.97% of total revenue, amounting to ¥1,441,422,151.25, which is a 23.49% increase from the previous year[60]. - The gross profit margin for PCB manufacturing was 18.76%, a decrease of 1.92% compared to the previous year[62]. Market Strategy and Expansion - The company plans to expand its market presence and enhance product development, focusing on high-density interconnect (HDI) boards and other advanced PCB technologies[12]. - The company is actively pursuing new strategies for market expansion and product innovation to enhance its competitive edge in the electronics industry[12]. - The company has established a centralized market management strategy, with dedicated teams for overseas market development[38]. - The company aims to enhance competitiveness by focusing on high-end products such as multilayer boards, automotive boards, and 5G products, while also improving brand value and market share[106]. - The company plans to expand into the international automotive electronics market, particularly in the context of the growing demand for new energy vehicles[108]. - The company will continue to develop new products, including rigid-flex boards and ceramic substrates, while deepening technology for metal-based special boards[108]. - The company is set to accelerate the construction of the Jiangxi Kexiang PCB project to quickly expand its operational scale and geographic reach[109]. Research and Development - The company launched 22 new R&D projects in 2020, focusing on areas such as 5G communication and medical electronics[57]. - The total R&D expenses for 2020 were ¥74,805,258.53, reflecting a 15.48% increase from ¥64,778,477.33 in 2019[69]. - The number of R&D personnel increased to 289, representing 10.99% of the total workforce[71]. - The company holds 159 patents, including 6 invention patents and 153 utility model patents, with 62 new patents added in 2020[45]. Risk Management - The company emphasizes the importance of risk management in its future development outlook, detailing potential challenges in the annual report[6]. - The company has identified macroeconomic fluctuations as a risk, particularly affecting the PCB industry due to its correlation with overall economic conditions[111]. - The company faces intensified market competition, with the top ten PCB companies holding approximately 33.90% of the global market share[112]. - The company is taking measures to mitigate risks from raw material price volatility by optimizing inventory management and exploring new materials[114]. - The company has developed emergency plans to address potential adverse effects from the ongoing global COVID-19 pandemic[113]. Corporate Governance and Shareholder Relations - The board of directors has approved a profit distribution plan, indicating a commitment to returning value to shareholders while maintaining growth strategies[6]. - The company plans to distribute cash dividends of RMB 0.65 per share, totaling RMB 11,201,950.11, based on a total share capital of 172,337,694 shares[121]. - The company's net profit for the year 2020 was RMB 41,563,844.88, with a cumulative distributable profit of RMB 53,244,570.11 as of December 31, 2020[124]. - The company aims to maintain a cash dividend distribution of no less than 10% of the annual distributable profit, totaling at least 30% over three years[120]. - The company has committed to not transferring or entrusting the management of shares held prior to the IPO for 12 months post-listing[128]. - Shareholders are restricted from selling more than 25% of their shares annually while serving as directors or senior management[128]. - The company has fulfilled all commitments made by its actual controllers and shareholders during the reporting period[127]. Environmental and Social Responsibility - The company emphasizes environmental protection and sustainable development, integrating these principles into its operational strategies[173]. - The company processed 42.4241 thousand tons of wastewater, with a discharge concentration of 36.009 mg/L for COD, exceeding the local standard limit[177]. - The company has implemented the Guangdong Provincial Standard for Electroplating Wastewater Discharge, ensuring compliance with environmental regulations[177]. - The company aims to enhance its wastewater treatment capabilities to meet stricter environmental standards in the future[177]. - The company has been recognized as a key supplier for epidemic prevention materials by both provincial and national authorities[174]. - The company has established a comprehensive human resources management system to protect employee rights and promote career development[173]. Operational Efficiency - The company has established a comprehensive management system in quality, customer, supply chain, and IT information management, enhancing operational efficiency[47]. - The company has implemented lean production strategies to improve delivery rates and production efficiency, enhancing its core competitiveness[55]. - The company has made significant progress in the construction of its smart manufacturing base in Jiangxi, with the first phase of the factory completed ahead of schedule[54]. Financial Management - The company reported a net increase in cash and cash equivalents of ¥309,704,820.77, a growth of 329.03% from the previous year[76]. - The total amount of raised funds was RMB 562.89 million, with a net amount of RMB 501.65 million after deducting issuance costs of RMB 61.23 million[90]. - The company has engaged in cash asset management through entrusted financial management, with details to be disclosed[168]. - The company reported a total of 59,578.25 million in entrusted financial management, with an outstanding balance of 51,578.25 million[169]. - There were no overdue amounts or risks associated with the entrusted financial management, indicating a stable financial position[169]. Compliance and Legal Matters - The audit firm, Zhonghua Certified Public Accountants, has been engaged for four consecutive years, with an audit fee of CNY 600,000 for the current period[144]. - The company reported a litigation case involving a claim of 14.22 million yuan, which has been settled with a mediation agreement[146]. - The company has no significant penalties or rectification measures during the reporting period[149]. - The company did not engage in any significant related party transactions during the reporting period[151]. Shareholder Structure - The total number of common shareholders increased from 26,342 to 27,592 during the reporting period[200]. - Major shareholder Zheng Xiaoyong holds 19.83% of shares, while Tan Dong holds 15.35%[200]. - The company has a diversified shareholder structure with no significant changes in the top ten shareholders[200].