Sun Create(600990)2021-04-23 16:00Financial Performance - The company's operating revenue for 2020 was approximately CNY 3.94 billion, representing a year-on-year increase of 7.39% compared to CNY 3.67 billion in 2019[21]. - The net profit attributable to shareholders for 2020 was CNY 170.26 million, a significant increase of 53.29% from CNY 111.07 million in 2019[21]. - The net profit after deducting non-recurring gains and losses was CNY 111.39 million, up 64.90% from CNY 67.55 million in the previous year[21]. - The basic earnings per share for 2020 was CNY 1.07, a 52.86% increase from CNY 0.70 in 2019[23]. - The weighted average return on equity for 2020 was 6.84%, an increase of 2.27 percentage points from 4.57% in 2019[23]. - The company achieved a total operating revenue of CNY 3,942,261,981.69, representing a year-on-year increase of 7.39%[57]. - Operating costs rose to CNY 3,271,878,457.79, an increase of 9.20% compared to the previous year, primarily due to the increase in revenue[60]. - The net profit attributable to shareholders was CNY 17,025,890, reflecting the company's profitability during the reporting period[57]. - The company reported a significant increase of 160.81% in tax refunds received, totaling ¥7,134,491.67, primarily due to VAT refunds from a subsidiary[69]. - The total comprehensive income for the year was CNY 174,346,813.96, up from CNY 115,585,280.73 in 2019, marking a 50.8% increase[198]. Dividend Policy - The company's cash dividend distribution plan proposes a cash dividend of CNY 3.3 per 10 shares, totaling approximately CNY 52.53 million, which accounts for 30.85% of the net profit attributable to shareholders[5]. - The company distributed cash dividends amounting to 52,529,106.30 RMB in 2020, representing 30.85% of the net profit attributable to ordinary shareholders[105]. - In 2019, the cash dividend distributed was 11,142,537.70 RMB, which accounted for 10.03% of the net profit attributable to ordinary shareholders[105]. - The cash dividend for 2018 was 27,060,448.70 RMB, making up 10.52% of the net profit attributable to ordinary shareholders[105]. - The company has a policy to distribute at least 30% of the average distributable profit over the last three years in cash dividends if profit distribution conditions are met[102]. - The board of directors is responsible for proposing the annual profit distribution plan, which must be approved by the shareholders' meeting[103]. Assets and Liabilities - The total assets of the company at the end of 2020 were approximately CNY 7.91 billion, reflecting a 10.95% increase from CNY 7.13 billion at the end of 2019[21]. - The company's net assets attributable to shareholders increased by 3.84% to approximately CNY 2.57 billion at the end of 2020, compared to CNY 2.47 billion at the end of 2019[21]. - Total current assets increased to CNY 5,427,367,975.57 in 2020, up from CNY 4,511,218,563.13 in 2019, representing a growth of approximately 20.3%[186]. - Accounts receivable rose to CNY 2,043,149,060.99 in 2020, compared to CNY 1,436,356,756.55 in 2019, marking an increase of about 42.2%[185]. - Total liabilities increased to CNY 5,315,011,858.53 in 2020, up from CNY 4,631,648,358.00 in 2019, reflecting a growth of approximately 14.8%[187]. - Long-term borrowings increased significantly to CNY 791,176,189.46 in 2020 from CNY 400,614,402.49 in 2019, indicating a growth of approximately 97.4%[187]. Research and Development - The company is committed to increasing its R&D investment in smart industry products to enhance its core competitiveness and industry standing[33]. - Research and development expenses decreased by 33.35% to CNY 79,387,431.17, indicating a shift in focus or efficiency improvements[59]. - The company employed 1,278 R&D personnel, representing 38.46% of the total workforce, highlighting a strong focus on innovation[67]. - The company has made significant advancements in technology, including breakthroughs in key technologies such as low sidelobe and low cross-polarization phased array antennas[44]. - Key technological advancements include research on phased array dual-polarization antenna design and high-efficiency GaN transmitters, with a focus on integrating big data and AI technologies[93]. Market Expansion and Strategy - The company is actively expanding in the radar industry, focusing on meteorological radar and air traffic control radar, aiming to become a leading supplier in the domestic aviation radar market[31]. - The company is enhancing its core capabilities in microwave components and systems, aiming to improve profitability in security and emergency response sectors[90]. - The company is exploring internationalization and strategic partnerships to strengthen its competitive position in the radar and smart city markets[88]. - The company aims to achieve breakthroughs in the meteorological market by advancing smart meteorological business systems and promoting projects from the 13th and 14th Five-Year Plans[91]. - The company is focused on enhancing supplier management and establishing long-term relationships with key suppliers to improve competitive advantages[94]. Environmental Compliance - The company has established a comprehensive environmental management system and passed the ISO14001 certification, ensuring compliance with environmental protection requirements[125]. - The company has implemented online monitoring for wastewater discharge, with no instances of exceeding discharge limits reported during the reporting period[124]. - All new construction projects have complied with environmental impact assessment requirements and have undergone necessary evaluations[126]. - The company has established a comprehensive monitoring system for wastewater pollutants, with monthly monitoring for key parameters[132]. - Environmental compliance is strictly adhered to, with all pollutants being disposed of in a reasonable and compliant manner[131]. Governance and Management - The company has a diverse management team with extensive experience in various engineering and financial roles[150]. - The governance structure is compliant with relevant laws and regulations, ensuring effective checks and balances within the organization[163]. - The company has established leadership roles in multiple subsidiaries and research institutions, indicating a strong governance structure[155]. - The total pre-tax compensation for the board members and senior management amounted to 613.61 million CNY for the reporting period[149]. - The company has maintained a stable management structure with no resignations reported during the period[149].