Yongmaotai(605208)2021-04-25 16:00Financial Performance - The company's operating revenue for 2020 was RMB 2,696,218,121.87, representing a 2.02% increase compared to RMB 2,642,823,175.77 in 2019[20]. - The net profit attributable to shareholders for 2020 was RMB 173,221,974.38, a significant increase of 39.28% from RMB 124,366,883.03 in 2019[20]. - The net profit after deducting non-recurring gains and losses was RMB 131,407,552.41, up 19.92% from RMB 109,582,944.89 in the previous year[21]. - Basic earnings per share increased by 39.77% to CNY 1.23 in 2020 compared to CNY 0.88 in 2019[22]. - The weighted average return on equity rose to 15.00%, an increase of 2.6 percentage points from 12.40% in 2019[22]. - The net profit for the year was 173 million RMB, a significant increase of 39.28% from 124 million RMB in the previous year[46]. - The total operating revenue for 2020 was CNY 2,696,218,121.87, an increase of 2.0% compared to CNY 2,642,823,175.77 in 2019[164]. - Total operating costs for 2020 were CNY 2,507,325,358.48, up from CNY 2,472,116,476.46 in 2019, reflecting a growth of 1.4%[164]. - The total comprehensive income for 2020 was CNY 79,948,335.98, reflecting a strong performance compared to CNY 42,786,027.35 in 2019[168]. Cash Flow and Investments - The net cash flow from operating activities decreased by 75.08% to RMB 25,149,407.08, down from RMB 100,925,508.07 in 2019[21]. - The net cash flow from operating activities decreased significantly in 2020, primarily due to a substantial increase in cash purchases of raw materials[22]. - The company reported a net cash outflow from investing activities of CNY 108,035,349.09, a reduction of 55.64% compared to the previous year[50]. - The net cash flow from financing activities decreased by 21.22% to ¥96,986,928.60 from ¥123,106,240.03, primarily due to a decrease in the repayment of equipment financing lease payments[60]. - The company received CNY 491,842,043.09 in new borrowings, an increase of 50% compared to CNY 328,174,444.44 in 2019[170]. Assets and Liabilities - The total assets at the end of 2020 were RMB 2,244,978,538.13, reflecting a 13.86% increase from RMB 1,971,730,739.08 at the end of 2019[21]. - The total liabilities grew to ¥1,001,788,238.52 in 2020 from ¥905,693,420.71 in 2019, reflecting an increase of 10.6%[159]. - The company's retained earnings increased to ¥617,545,158.49 in 2020 from ¥452,318,017.71 in 2019, a growth of 36.5%[159]. - Current assets increased to ¥1,018,314,266.13 in 2020 from ¥800,435,304.25 in 2019, representing a growth of 27.3%[158]. - Total equity attributable to shareholders rose to ¥1,243,190,299.61 in 2020, compared to ¥1,066,037,318.37 in 2019, reflecting an increase of 16.6%[159]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 1.5 per 10 shares, totaling RMB 28,200,000.00 to all shareholders[6]. - The company has established a cash dividend policy, committing to distribute at least 10% of the annual distributable profit as cash dividends, with a cash distribution ratio of 16.28% for 2020[78]. - The company distributed dividends amounting to ¥4,778,616.76, compared to ¥3,145,283.18 in the previous year, indicating a rise of 52.0%[173]. Market Position and Strategy - The company has established stable strategic partnerships with major automotive manufacturers, enhancing its market position in the aluminum alloy sector[29]. - The company has been recognized as one of the top 50 casting enterprises in China, indicating its competitive standing in the industry[29]. - The company aims to actively develop new products for the electric vehicle market, including components for batteries and energy-efficient engines for mid-to-high-end models[73]. - The company has a strategic focus on integrating upstream and downstream operations within the aluminum alloy industry chain to strengthen its market position[71]. Environmental and Social Responsibility - The company has actively participated in social responsibility initiatives, donating 500,000 yuan to the Shanghai Charity Foundation for educational and elderly assistance projects[99]. - The company promotes energy-saving measures and green practices in its production processes[98]. - The company has implemented various environmental protection measures, including the purchase of dust collection equipment and online monitoring devices to reduce pollution[100]. - The total emissions of sulfur dioxide were 9.1828 tons, with a concentration of 4.7 mg/m3, well below the standard limit[100]. Governance and Compliance - The company emphasizes compliance with its commitments to maintain market stability and investor trust[81]. - The company has established commitments to ensure the stability of its stock price and shareholder confidence[81]. - The company will accept supervision from regulatory bodies and the public to ensure the protection of investors' rights[84]. - The company has not reported any significant internal control deficiencies during the reporting period[140]. Research and Development - Research and development expenses amounted to CNY 39,615,725.36, accounting for 1.47% of total revenue[59]. - The number of R&D personnel was 135, representing 9.41% of the total workforce[59]. - The company has made significant progress in developing new products for the new energy vehicle sector, including battery pack front plates and module brackets[40]. Employee and Management Structure - The company has a total of 1,434 employees, with 1,075 in production, 27 in sales, 135 in technical roles, 23 in finance, and 174 in administration[131]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 6.7263 million yuan[129]. - The company’s management structure includes a chairman, general manager, and various directors overseeing different departments[125].