J-Micro(SZ:300819)2021-04-25 16:00Dividend Distribution - The company plans to distribute a cash dividend of 3 RMB per 10 shares to all shareholders, based on a total of 99,470,000 shares[5]. - The company proposed a cash dividend of 3.00 yuan per share (including tax) for the year 2020, with a total cash dividend amounting to 29,841,000 yuan, representing 100% of the distributable profit[108]. - The total distributable profit for the company as of December 31, 2020, was 170,803,884 yuan, after accounting for the legal surplus reserve[109]. - The cash dividend for 2020 was based on a total share capital of 99,470,000 shares, with no stock dividends or capital reserve transfers proposed[111]. - The cash dividend payout ratio for 2020 was 513.65% of the net profit attributable to the parent company, indicating a significant return to shareholders[113]. - The company has maintained a consistent dividend policy, with the 2020 proposal being reviewed and approved by the board and supervisory committee[111]. Financial Performance - The company's operating revenue for 2020 was ¥347,602,064.10, a decrease of 30.26% compared to ¥498,407,381.04 in 2019[16]. - The net profit attributable to shareholders for 2020 was ¥5,809,600.39, down 90.26% from ¥59,658,231.43 in 2019[16]. - The net cash flow from operating activities increased by 14.17% to ¥83,929,831.61 in 2020, compared to ¥73,515,417.11 in 2019[16]. - The total assets at the end of 2020 were ¥964,420,619.67, representing a 57.45% increase from ¥612,521,085.55 at the end of 2019[16]. - The company's net assets attributable to shareholders rose by 74.02% to ¥804,785,705.22 at the end of 2020, compared to ¥462,455,650.58 at the end of 2019[16]. - The company reported a basic earnings per share of ¥0.06 for 2020, a decrease of 92.50% from ¥0.80 in 2019[16]. Market Position and Products - The company focuses on the research, production, and sales of ultra-fine composite fiber fabrics and products, with over 20 years of experience in the field[25]. - Major products include ultra-fine fiber products, imitation leather fabrics, functional fabrics, and cleanroom products, catering to various applications[26]. - The company is recognized as a leading enterprise in the field of ultra-fine composite fiber materials in China, with its products achieving advanced levels in both domestic and international markets[35]. - The company has established long-term partnerships with international brands such as Decathlon, ZARA, C&A, H&M, and IKEA, enhancing its market presence[30]. - The company has a complete production process from weaving to dyeing and finishing, which provides a competitive advantage in the industry[38]. Research and Development - Research and development expenses for 2020 amounted to ¥16,164,366.39, representing 4.65% of total revenue, an increase from 3.99% in 2019[71]. - The company is currently developing several innovative products, including a high-end faux leather material and antibacterial double-sided fleece, aimed at enhancing product competitiveness[70]. - The company has invested in the development of new products, including regenerated fiber double-sided fleece and antibacterial double-sided fleece, to enhance product value[44]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[169]. - The company has established a wastewater treatment plant and exhaust gas collection system, effectively managing wastewater and exhaust generated from production[171]. - In 2020, the company complied with environmental regulations, ensuring that wastewater, exhaust gas, and solid waste were treated and discharged in accordance with national standards[174]. - The company has maintained a 100% pass rate for quality control samples in monitoring data, ensuring the reliability of environmental data[174]. - The company has implemented a comprehensive emergency response plan for potential environmental incidents, including a tiered response mechanism[173]. Shareholder and Management Commitments - The company has committed to not transferring or entrusting the management of its shares for 36 months post-IPO[115]. - The company will ensure fair operations and compliance with legal regulations in related party transactions[125]. - The company will publicly apologize to shareholders and investors if it fails to fulfill its commitments as disclosed in the prospectus[131]. - The company will disclose specific reasons for any failure to fulfill commitments due to uncontrollable factors[131]. - The company will ensure that its stock incentive plan aligns with the execution of its return measures[134]. Future Outlook - The company provided a positive outlook for 2021, projecting a revenue growth of 10% to 12% based on market expansion strategies and new product launches[119]. - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by 2023[118]. - A strategic acquisition of a local competitor is anticipated to be finalized in Q2 2021, which is expected to increase the company's market share by 5%[119]. - The company is investing 100 million RMB in R&D for new technologies aimed at sustainability and reducing production costs by 10%[117].