拓邦股份：2020年年度报告（英文版）.PDF

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1、Full text of Annual Report 2020 of Shenzhen Topband Co., Ltd. 1 Shenzhen Topband Co., Ltd. Annual Report 2020 March 2021 Full text of Annual Report 2020 of Shenzhen Topband Co., Ltd. 2 Section I Important Notes, Contents and Interpretation The Board of Directors, the Board of Supervisors and directo

2、rs, supervisors and senior executives of the Company hereby assure that the content set out in the Report is true, accurate and complete, and free from any false from any false record, misleading representation or material omission, and are individually and collectively responsible for the content s

3、et out therein. Wu Yongqiang, the principal of the Company, Xiang Wei, accounting head, and Xiang Wei, accounting department head (the person in charge of accounting department) hereby certify that the financial report in the herein annual report is true, accurate and complete. All directors have at

4、tended the Board meeting at which the Report was scrutinized. There is no significant risk affecting the financial condition and sustainable profitability of the Company, but there may be risks of declining market demand, increased competition in the industry, raw material price fluctuations, change

5、s in export tax rebate policy and foreign exchange rate fluctuations due to the macro environment home and abroad. For detailed risk warnings, please refer to the “Possible Risk Factors” in Section IV of the Report and investors are advised to pay attention to investment risks. The profit distributi

6、on plan approved by the Board of Directors is as follows: based on 1,120,377,889 shares (excluding 14,838,920 treasury shares that have been repurchased), a cash dividend of 0.5 yuan (tax included) for every 10 shares should be distributed to all shareholders, with 0 bonus shares and no capital incr

7、ease by way of transfer of reserved funds. If the total share capital of the Company changed due to the exercise of stock options and other reasons before the implementation of the distribution plan, the total amount of distribution should be adjusted accordingly in the principle that the distributi

8、on proportion remains unchanged. Investors are advised to pay attention to the risk that the total distribution may be adjusted due to changes in total share capital. This Report has been prepared in Chinese and translated into English. Should there be any discrepancies or misunderstandings between

9、the two versions, the Chinese version shall prevail. Full text of Annual Report 2020 of Shenzhen Topband Co., Ltd. 3 Chairmans Address Dear shareholders and all friends who are concerned about Topband, In 2020, the Company seized the opportunity of intelligent development, overcame the adverse impac

10、t of the external environment, and achieved good performance growth. In 2020, the sales revenue reached 5,560,183,000 yuan, with a year-on-year growth of 35.65%; the net profit attributable to the parent company reached 533,516,800 yuan, with a year-on-year growth of 61.27%. Looking back to 2020, th

11、e sudden COVID-19 epidemic had a broad and far-reaching impact on the world economy and the Chinese economy, bringing new challenges to the intelligent control industry. In order to cope with the challenges, based on the needs of customers, the Company successively implemented a variety of measures,

12、 took the lead in promoting the resumption of work and production, and overcame the difficulties with customers. Under the sincere solidarity of all the Topband people, we turned the crisis into opportunity and successfully completed the growth target. Focus on strategy to achieve the five-year butt

13、erfly change of Topband In the past five years, Topbands operating income has grown rapidly at a compound growth rate of 30%+, and it has become a hidden champion in the field of global intelligent control. As the saying goes, Three years of development depends on opportunity, and ten years of devel

14、opment depends on strategy. Strategy is the key to the success or failure of an enterprise. In 2016, when making the vision plan for the next ten years, Topband clearly put forward the medium- and long-term development goal by 2025. In order to achieve the strategic objectives, Topband formulated a

15、detailed development plan based on the industry development prospects and its own core capabilities, focusing on the intelligent control track, anchoring four application fields of home appliances, tools, lithium batteries and industrial control. In terms of customers, Topband focused on top custome

16、rs, stuck to the customer-centered value concept, and continued to create value for Full text of Annual Report 2020 of Shenzhen Topband Co., Ltd. 4 customers. In terms of products, Topband practiced the concept of innovative development, built technical competitiveness through high R&D investment, a

17、nd vigorously developed a product platform to build product competitiveness. In terms of internal operation, Topband started from the introduction of the IPD (Integrated Product Development) process, promoted process reform and organizational reform successively, and built the BG-BU (Business Group

18、- Business Unit) organization with the mission of capturing opportunities. Looking back to the past five years, Topband focused on strategy, practiced skills, and completed butterfly change. Now Topband is a high-tech innovation enterprise with clear strategy, leading technology, efficient operation

19、 and abundant talents. Firmly stick to the strategic direction to become the leader of intelligent control The greatest value of the enterprise is to promote the progress of human society and industry. Since its inception, Topband has been committed to the intelligent control industry, and has been

20、determined to become the leader of the global intelligent control industry, so as to innovate in intelligent control technology, create value for customers and benefit everyone. The Company will continue to focus on the core objective of scale growth to enhance its leading position among global inte

21、lligent control solution providers. The Company will give full play to the core technology advantages of three electrics and one network, and focus on the four main fields of home appliances, tools, lithium batteries and industry, so as to provide one-stop intelligent control solutions for global br

22、and customers. In terms of home appliance business, Topband is committed to becoming the leader of intelligent control solutions for home appliances. In terms of tool business, the Company is committed to becoming the worlds leading supplier of intelligent control solutions in the tool industry. In

23、terms of lithium battery business, the Company is committed to becoming the industry leader in customized lithium batteries and BMS (battery management system). In terms of industrial business, the Company will strive to rank among the first echelon of the domestic industrial control industry. The C

24、ompany will continue to implement the four strategies of customer intimacy, innovation driving, smart operation and organizational evolution. In terms of customers, the Company will Full text of Annual Report 2020 of Shenzhen Topband Co., Ltd. 5 strengthen the strategy of customer intimacy, and vigo

25、rously develop three types of top customers, namely big customers, strategic customers and sci-tech innovation customers, and improve the market share. In terms of innovation, the Company will deepen the innovation-driven strategy, strengthen the construction of technological innovation and product

26、platforms, and realize the business growth and upgrading driven by technological innovation. In terms of operation, the Company will comprehensively promote the smart operation strategy, build cost advantages through three reductions and one optimization, accelerate digital transformation, and impro

27、ve end-to-end efficiency. In terms of organizational construction, the Company will continue to promote the organizational evolution strategy, strengthen the construction of the talent team, and build a customer-centered process organization. Deeply develop intelligentization to mine the gold mine o

28、f intelligent control The future will be an intelligent society, and intelligentization will be a long-term, lasting and far-reaching change having a wide influence, and will deeply affect modern life, and change product forms at the same time. Intelligent control is the core technology of the futur

29、e intelligent society and the brain and nervous system of intelligent equipment, and will become the necessity of the intelligent society. We think that the intelligent control industry is a big industry without a ceiling and the next gold mine of the intelligent society. Intelligent controllers are

30、 technology-intensive products including algorithm and hardware. With the continuous and in-depth development of intelligentization, the rapid iteration of technology will improve intelligent controller ODM (original design manufacturer) customization demands, and brand owners requirements for techn

31、ical innovation ability will become increasingly higher. Relying on 25 years of continued R&D investment, Topband has core competitiveness in terms of technology and product innovation. According to public data, the scale of the global intelligent controller market exceeds one trillion yuan. With th

32、e rapid development of AloT (Intelligent Internet of Things), the boundary of the market will continue to expand, and the industry will have broad prospects for future growth. The intelligent, healthy and high-end home appliance industry is in a state of continuous Full text of Annual Report 2020 of

33、 Shenzhen Topband Co., Ltd. 6 acceleration, and the ODM demand for home appliance intelligent controllers keeps a rapid growth trend; the oil to electricity and cordless trends in the tool industry are also accelerating, and the demands for intelligent controllers, motors and battery packs continue

34、to rise; the markets of energy storage and two- and three-wheeled vehicle power change in the lithium battery application industry are developing rapidly; the double opportunity of digital transformation and domestic substitution in the industrial control industry is coming. The Company will firmly

35、seize the industry development opportunities, continue to deepen the intelligent control industry, lead the forward development of the industry, and become a global leading and honored provider of intelligent control technology. In 2021, we will actively respond to potential difficulties such as tig

36、ht supply of raw materials, increased exchange rate fluctuations and labor shortage, and quickly formulate measures to address them. At the same time, the Company will focus on the target, seize the opportunity, operate efficiently, and achieve good performance as a return for shareholders and the c

37、ommunity. Entrepreneurship is the most valuable part of an enterprise, and the Company is happy to provide opportunities so that every Topband person can realize their own value. I hope that Topband will become a place where entrepreneurs and entrepreneurship are nurtured. Looking forward to the fut

38、ure, the pioneering, enterprising, diligent and innovative Topband people will continue to adhere to the customer-centered concept guided by entrepreneurship, and continue to create value for customers. Lets go forward hand in hand, contribute our strength to the intelligent society, and create an i

39、ntelligent and bright future together. Thank you. In the past 25 years, no matter how the global macro-environment changes, Topband has always adhered to the strategic development direction. With the joint efforts of the management and all the colleagues, Topband has achieved leapfrog development. W

40、e hereby sincerely thank our customers, investors and partners for their long-term support to Topband. Chairman of Shenzhen Topband Co., Ltd. Full text of Annual Report 2020 of Shenzhen Topband Co., Ltd. 7 March 9, 2021 Full text of Annual Report 2020 of Shenzhen Topband Co., Ltd. 8 Contents Section

41、 I Important Notes, Contents and Definitions . 2 Section II Company Profile and Main Financial Indicators . 10 Section III Business Summary of the Company . 15 Section IV Business Situation Discussion and Analysis . 24 Section V Important Matters . 55 Section VI Share Change and Shareholders . 75 Se

42、ction VII Information on Preferred Shares . 83 Section VIII Information on Convertible Corporate Bonds . 84 Section IX Information on Directors, Supervisors, Senior Executives and Employees . 86 Section X Corporate Governance . 97 Section XI Information Related to Corporate Bonds . 105 Section XII F

43、inancial Reports . 106 Section XIII Catalogue of Documents for Reference . 279 Full text of Annual Report 2020 of Shenzhen Topband Co., Ltd. 9 Section I Definitions Term Definitions Company, the Company, Topband shares Shenzhen Topband Co., Ltd. Yuan, 10,000 yuan Yuan, 10,000 yuan CSRC China Securit

44、ies Regulatory Commission Exchange Shenzhen Stock Exchange Reporting period January 1, 2020 to December 31, 2020 Articles of Association Articles of Association of Shenzhen Topband Co., Ltd. Huizhou Topband Huizhou Topband Electrical Technology Co., Ltd. YAKO Automation Shenzhen YAKO Automation Tech

45、nology Co., Ltd. HCD Shenzhen HCD Control System Co., Ltd. Topband Software Shenzhen Topband Software Technology Co., Ltd. ORVIBO Shenzhen ORVIBO Technology Co., Ltd. Chongqing Yiyuan Chongqing Topband Industrial Co., Ltd. Ningbo Topband Ningbo Topband Intelligent Control Co., Ltd. Meanstone Intelli

46、gent Shenzhen Meanstone Intelligent Technology Co., Ltd. HANSC Intelligent Shenzhen HANSC Intelligent Technology Co., Ltd. IOT Internet of Things ICT Information Communications Technology T-SMART Topband One-Stop Smart Home Solution AI Artificial Intelligence AWE Appliance & Electronics World Expo B

47、LDC Motor Brushless DC Motor BG、BU Business Group 、Business Unit IPD Integrated Product Development ISC Integrated Supply Chain Full text of Annual Report 2020 of Shenzhen Topband Co., Ltd. 10 Section II Company Profile and Main Financial Indicators I. Company information Stock abbreviation Topband

48、Stock code 002139 Listed stock exchange Shenzhen Stock Exchange Chinese name of the Company Shenzhen Topband Co., Ltd. Chinese abbreviation of the Company Topband Name of the Company in foreign language (if any) Shenzhen Topband Co., Ltd Legal representative of the Company Wu Yongqiang Registered ad

49、dress Room 413, Block B, Research Institute of Tsinghua University, High-Tech Industrial Park, Yuehai Street, Nanshan District, Shenzhen Postal code of registered address 518057 Office address Topband Industrial Park, Keji Second Road, Shiyan Subdistrict, Baoan District, Shenzhen Postal code of offi

50、ce address 518108 Company website http:/ Email II. Contact person and contact information Secretary of the Board of Directors Representative of securities affairs Name Wen Zhaohui Yang Qiaoqiao Address Topband Industrial Park, Tangtou Avenue, Shiyan Town, Baoan District, Shenzhen Topband Industrial