博亚精工(300971) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥364,147,928.59, representing a 23.18% increase compared to ¥295,621,646.03 in 2019[19]. - The net profit attributable to shareholders for 2020 was ¥83,793,083.33, a 15.32% increase from ¥72,659,986.32 in 2019[19]. - The company achieved an operating revenue of 364.15 million yuan in 2020, representing a year-on-year growth of 23.18%[47]. - The net profit attributable to the parent company was 83.79 million yuan, an increase of 15.32% compared to the previous year[47]. - The company's total assets reached 731.27 million yuan, with total liabilities of 229.52 million yuan, resulting in equity attributable to the parent company of 498.72 million yuan[47]. - The company reported a total of ¥6,481,336.83 in non-recurring gains for 2020, compared to ¥5,237,793.66 in 2019[24]. - The company’s basic earnings per share for 2020 were ¥1.33, up 15.65% from ¥1.15 in 2019[19]. - The total distributable profit for the year was RMB 216.31 million, with the cash dividend accounting for 100% of the profit distribution[109]. - The retained undistributed profit after the dividend distribution for 2020 is RMB 182.71 million, which will be carried forward to the next fiscal year[109]. Cash Flow and Investments - The net cash flow from operating activities decreased by 27.26% to ¥50,296,439.34 in 2020 from ¥69,141,489.68 in 2019[19]. - The net cash flow from investing activities was 9.91 million yuan, a significant increase of 139.71% year-on-year, mainly due to the maturity of bank wealth management products and asset acquisitions[58]. - The net cash flow from financing activities was -28.45 million yuan, an increase of 72.01% year-on-year, primarily due to loan repayments and dividends[58]. - Cash and cash equivalents rose by 33.68% to 99.10 million yuan, primarily due to the redemption of large financial products[53]. - The company reported a total of 556.16 million yuan in related party transactions, with a 100% approval rate for the transactions[130]. Research and Development - Research and development expenses increased by 35.08% to 34.63 million yuan, reflecting the company's commitment to innovation[55]. - The company applied for 35 patents during the year, with 15 patents granted, indicating a strong focus on technological advancement[48]. - The company’s R&D investment as a percentage of operating revenue increased to 9.51% from 8.67% in the previous year[76]. - The company aims to enhance its R&D efficiency by implementing a tiered research plan, focusing on product updates every 3-5 years and integrating intelligent control technologies[102]. - The company has developed high-performance components for special vehicles, which have been widely recognized in various national events[29]. Market Position and Strategy - The company has successfully replaced imports in the metallurgical plate forming processing field and has become a high-end equipment supplier, demonstrating its capability in specialized mechanical manufacturing[8]. - The company has established partnerships with major steel groups, including Baowu Steel Group and Hebei Iron and Steel Group, enhancing its market presence[28]. - The company plans to continue exploring market opportunities in the mechanical manufacturing sector, aiming to establish itself as a high-end manufacturer[46]. - The company is actively participating in the "Belt and Road" initiative, targeting underdeveloped countries for infrastructure projects, which presents significant market opportunities for its products[105]. - The company aims to contribute to "Made in China 2025" by consolidating its market advantages in precision equipment and expanding into specialized manufacturing sectors[93]. Customer and Supplier Relationships - The company achieved a revenue concentration of 58.71% from its top five customers in 2020, indicating a high customer concentration risk[6]. - The top five customers accounted for 58.71% of the total annual sales, indicating a significant concentration of revenue[67]. - The company has established long-term stable partnerships with quality customers through an integrated sales and service model[43]. - The top five suppliers accounted for ¥31,126,157.02 in purchases, representing 21.62% of the annual total purchases[72]. Dividend Policy - The company plans to distribute a cash dividend of 4 RMB per 10 shares (including tax) based on a total share capital of 84 million shares, with no bonus shares issued[9]. - The company has maintained a consistent cash dividend policy, with the cash dividend ratio for the past three years being 40.10% in 2020, 34.68% in 2019, and 50.34% in 2018[112]. - The company has a commitment to distribute at least 10% of the annual distributable profit as cash dividends, in line with its articles of association[110]. - The cash dividend for 2020 is the highest amount distributed in the last three years, reflecting the company's strong financial performance[112]. Corporate Governance and Compliance - The company guarantees that the prospectus and other disclosure materials for the initial public offering do not contain false records, misleading statements, or significant omissions[120]. - The company is focused on maintaining the interests of small and medium investors through strict adherence to its articles of association[119]. - The company has established a clear decision-making process for profit distribution to ensure transparency and accountability[119]. - The company has received commitments from various intermediaries, including accountants and legal advisors, to compensate investors for losses caused by any inaccuracies in the IPO documentation[120]. Social Responsibility - The company actively promotes social responsibility, contributing over 4 million yuan to various charitable activities, including a donation of 1 million yuan to support COVID-19 relief efforts[145]. - Since 2015, the company has invested over 2 million yuan in poverty alleviation projects, helping to lift all impoverished households in Jinbao Village out of poverty[146]. - The company has established a pig breeding cooperative to enhance local income, investing 5 million yuan to build a breeding facility[147]. - The company plans to continue its involvement in rural revitalization efforts, transitioning from poverty alleviation to supporting sustainable development in rural areas[148]. Shareholder Information - The company has maintained a total share count of 63,000,000, with 100% being limited shares[155]. - The largest shareholder, Li Wenxi, holds 34.64% of the shares, amounting to 21,826,000 shares[157]. - The company has a total of 105 shareholders, with no significant changes in the number of shareholders reported[157]. - The company’s major shareholders have committed to reducing their holdings in accordance with legal regulations, with a maximum of 1% of total shares through centralized bidding and 2% through block trading within any ninety-day period[116]. Management and Leadership - The company’s management team includes experienced professionals with backgrounds in engineering and finance, contributing to its operational strategy[178][180]. - The company has a focus on technological innovation and product development, as indicated by the expertise of its management team[179]. - The company has appointed new independent directors and supervisors on April 1, 2020, including Sun Zehou, Ni Guoju, and Dong Min[176]. - The financial director, Kang Xiaoli, received the highest remuneration among the directors at 998,400 yuan[200].