On April 8, Tongda Electric (603390) recently released its 2020 annual report, and the company achieved operating income of 653,867,671.20 yuan during the reporting period, down 16.64% year-on-year; the net profit attributable to shareholders of listed companies was 46,708,077.24 yuan, down 67.51% year-on-year.
Net cash flow from operating activities during the reporting period was -90,380,282.11 yuan, and net assets attributable to shareholders of the listed company as of the end of 2020 were 1,726,885,373.48 yuan.
During the reporting period, the net profit attributable to the shareholders of the listed company was 46,708,077.24 yuan, down 67.51% year-on-year, mainly due to the decrease in operating income and the increase in costs and expenses in the current period.
In 2020, the COVID-19 epidemic continued to spread around the world, and all walks of life were affected to varying degrees. The large-scale restriction of the flow of people across provinces and cities has greatly affected the bus industry, especially urban buses, and the market demand for public transportation and passenger transport has dropped significantly. Statistics from the Ministry of Transport show that during the reporting period, the national road passenger traffic fell by 47.00% compared with the same period of the previous year; the total passenger traffic of central cities in the country fell by 33.70% compared with the same period of the previous year, of which the passenger traffic of public buses and trams fell by 38.70% compared with the same period of the previous year. According to the statistics of Huiyan Eye, the sales revenue of China's bus industry during the reporting period was 55.99 billion yuan, down 26.00% from the same period last year; according to the data disclosed by the China Bus Statistics Network, the sales volume of buses over 6 meters during the reporting period was 105,400 units, down 26.60% from the same period last year, and the demand for passenger transport, the overall sales volume and sales revenue of the bus industry all fell sharply.
Finance expense for the Period was $2,149,786.10, compared to $5,299,889.49 for the same period last year, a decrease of 59.44% year-on-year, mainly due to a decrease in interest expense for the period. Investment income during the period was RMB19,323,859.80, compared to RMB11,760,469.85 in the same period last year, an increase of 64.31% year-on-year, mainly due to the use of temporarily idle raised funds for cash management in the current period.
The announcement shows that the remuneration of directors, supervisors and senior management during the reporting period totaled 7.9356 million yuan. The total pre-tax remuneration received by Chairman Chen Lina from the company was 1,015,700 yuan, the total pre-tax remuneration received by director and general manager Xing Yingbiao from the company was 1,015,800 yuan, and the total pre-tax remuneration received by director, secretary of the board of directors, financial director and deputy general manager Wang Peisen from the company was 723,600 yuan.
The announcement discloses that the profit distribution plan for the reporting period or the plan for the conversion of provident fund into equity capital deliberated by the Board of Directors: The Company's 2020 annual profit distribution plan approved by the 18th meeting of the Third Board of Directors held on April 8, 2021 is: the total share capital registered on the record date of the implementation of the equity distribution (less the shares repurchased by the repurchase special account) is the basis. According to the cash dividend of 1.00 yuan (including tax) for every 10 shares, calculated according to the total share capital on the disclosure date of this report, after deducting the repurchased shares of the special account, a total of 34,975,526.50 yuan of pre-tax cash dividends were paid, and the dividend was not sent bonus shares, no capital reserve conversion was carried out, and the remaining undistributed profits of the current year were rolled over to the subsequent annual distribution. The above-mentioned profit distribution plan will be implemented after the deliberation and approval of the shareholders' general meeting.
According to the data of the digging shell network, Tongda Electric is a high-tech enterprise specializing in the research and development, production and sales of on-board intelligent terminal integrated information management system and supporting automotive electrical products, mainly providing vehicle intelligent comprehensive management systems and related hardware products for commercial vehicle manufacturers and bus operators, which are specifically divided into four categories: vehicle intelligent system series products, bus multimedia information release system series products, vehicle component series products, new energy vehicle motors and thermal management system products.
This article originated from the digging shell network
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