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 Revenue and profit both hitting record highs, Tongyu Heavy Industry released 2020 annual report

        On the evening of April 12, 2021, Tongyu Heavy Industry Co., Ltd. (hereinafter referred to as the "Company") released its annual report for 2020: in 2020, the company achieve a total revenue of 5.688 billion yuan, up 41.22% year on year, and the revenue has maintained positive growth for ten consecutive years after being listed; The net profit attributable to the shareholders of the listed company is 381 million yuan, up 62.24% year on year, with an average annual compound growth rate of 25.88% during the 13th Five-Year Plan period. At the same time, the company plans to pay a cash dividend of 0.5 yuan per 10 shares in 2020, with a total cash dividend of 195 million yuan, and a dividend payout rate of 51.10%, to repay the support of shareholders with practical actions!

The introduction of state-owned holdings has significantly enhanced capital strength

        2020 will be a major milestone in the development history of Tongyu Heavy Industry. The company completed the "national mixed reform" and used the advantages of state-owned credit to quickly promote capital optimization: First, it quickly completed the issuance of fixed-income shares to the group, becoming the first listed company in Zhuhai Port Holdings Group to complete equity refinancing under the registration system, and the total amount of funds raised was 944 million yuan. The company can save more than 50 million yuan in financial expenses every year; Second, relying on the credit advantage of state-owned holdings, by the end of 2020, all new loan interest rates of cooperative banks have been reduced to the benchmark interest rate or below; third, through the cooperation with the subsidiaries of Zhuhai Port Holdings Group, a number of co-operations were carried out in supporting financing for physical industries such as financial leasing, commercial factoring, and supply chain finance, and comprehensive financial expenses continued to decrease.

Seize industry opportunities and set new highs in production and sales

       In the face of the wind power industry high prosperity opportunities and the rapid transformation of supply and demand contradictions in the market, the company adheres to the management ideas of "order driving, production driving, management interaction", through the unremitting efforts of all the staff day and night, the main output indicators have reached a record high: the steel ingot output of 320,700 tons, an increase of 6.1% year on year; The output of forgings was 213,700 tons, up 11% year on year; Casting blank output 149,000 tons, up 87% year on year; Wind power modular products 483 (sets). The parent company ordered more than 4.4 billion yuan in the whole year, developed more than 80 new customers, and expanded the cooperation resources for the follow-up development.

Innovation-driven, technology and process to achieve new breakthroughs

       As a state-level enterprise technology center and a high-tech enterprise, the company focuses on the development trend of large-scale and offshore wind power industry, and increases research and development cooperation with major customers. In 2020, the company will invest 157 million yuan in research and development, with a year-on-year increase of 40.48%. The technical team, led by the technical committee, carried forward the spirit of pioneering and forging ahead under the guidance of the concept of "innovation creates value, value achievements for customers", completed the organization, implementation and acceptance of 11 key research and development  projects of the company throughout the year, and successfully developed many new products such as 600MW rotors, flywheel rotors and stainless steel valve cases. Successfully improve shaft, gear box end cover and other products production process

Seize the historical opportunity and make new achievements in development

       In the first quarter of 2021, The National "14th Five-Year Plan" and the "Guiding Opinions on Accelerating the Establishment and Improvement of a Green and Low-Carbon Circular Development Economic System" promulgated by the State Council clearly put forward to vigorously enhance the development scale of wind power, photovoltaic power generation and other non fossil energy, and the related industries are expected to usher in a higher stage of development. Recently, Tongyu Heavy Industry has successfully completed the project of issuing shares to specific targets, and the controlling shareholder Zhuhai Port Holdings Group has increased its shareholding to 20.34%.FTSE Russell's flagship index  FTSE Global Equity Index Series, the world's second largest international index, has included Tongyu heavy industry in its global stock index series. According to the company's recently released performance forecast for the first quarter of 2021, it is estimated that the net profit attributable to shareholders of listed companies will be between 93.1676 million yuan and 111.8011 million yuan, with a year-on-year growth of 50% - 80%, reaching a new high in the same period! It reflects the forward-looking strategic foresight of international institutions and state-owned capital on the sustainable development ability of the company in the new energy equipment manufacturing industry.

        At the annual board meeting held on April 9, 2021, Ou Huisheng, chairman of Zhuhai Port Holdings Group and Tongyu Heavy Industry, pointed out: 2021 is a year of opportunities and challenges for Tongyu. It is particularly important for Tongyu to "seize share from outside and strengthen quality from inside". We should focus on the following aspects: first, we should do everything possible to improve the development quality of the company; Second, accelerate the implementation of strategic planning, pay attention to capital operation and investment mergers and acquisitions; Third, further improve the incentive and restraint mechanism; Fourth, continue to enhance the synergistic development advantages of wind power business; Fifth, strengthen research and development and sales team building; Sixth, safety management and quality control to unremitting efforts; Seventh, speed up the integration into the Greater Bay Area and Zhuhai Port Group development, two-way empowerment.

       2021 is the beginning of the 14th Five-Year Plan and the first year when the wind power industry will fully enter the era of parity. The company will actively invest in the iteration of new energy equipment manufacturing technology, cost reduction and efficiency improvement, continue to consolidate the leading position of wind power shaft, accelerate the increase of wind power casting market share, and do a good job in the production system of wind power structural parts with high standard and high level. And with greater determination and courage to explore the "offshore market" and "overseas market" of wind power products. At the same time, the company will be fully registered under multi-level capital market resources, with a good platform for the comprehensive development of manufacturing industry advantage, continue to push forward in wind power, hydropower, nuclear waste treatment, green energy such as biomass power generation equipment manufacturing in the field of research and development, manufacture, efforts to achieve the sustainable healthy development, brings better returns for all shareholders.

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