Financial Performance - The company's operating revenue for 2020 was approximately ¥10.77 billion, a slight decrease of 0.06% compared to 2019[17]. - Net profit attributable to shareholders increased by 30.50% to approximately ¥1.66 billion in 2020, up from ¥1.27 billion in 2019[17]. - The net profit after deducting non-recurring gains and losses was approximately ¥1.59 billion, representing a 24.28% increase from the previous year[17]. - The company's total assets at the end of 2020 reached approximately ¥32.34 billion, an increase of 80.41% compared to the end of 2019[17]. - The weighted average return on net assets was 15.93% for 2020, up from 14.76% in 2019[17]. - The company achieved a total operating revenue of approximately ¥10.77 billion in 2020, a slight decrease of 0.06% compared to ¥10.78 billion in 2019[48]. - The total assets of the company reached 32.341 billion yuan, reflecting an 80.41% year-on-year growth, and shareholders' equity increased by 47.36% to 13.642 billion yuan[39]. - The company reported a net profit of approximately 1.66 billion CNY for 2020, showing a strong financial performance despite market challenges[90]. Cash Flow and Investments - The company reported a net cash flow from operating activities of approximately -¥519.55 million, a significant decrease of 138.42% compared to the previous year[17]. - Operating cash inflow decreased by 13.20% to ¥9,269,920,659.58 from ¥10,679,228,482.39 in 2019[61]. - Net cash flow from operating activities turned negative at -¥519,545,147.52, a decline of 138.42% from ¥1,352,449,077.72 in 2019[61]. - Financing cash inflow surged by 116.98% to ¥20,097,600,745.39 from ¥9,262,487,783.69 in 2019[61]. - Net cash flow from financing activities increased by 512.92% to ¥9,573,813,630.78 from ¥1,562,003,129.44 in 2019[61]. - Cash and cash equivalents increased by ¥4,774,675,968.06, reversing a decrease of -¥565,492,737.02 in 2019[61]. - The company has raised a total of 594.445 million CNY through non-public offerings, with 294.8638 million CNY utilized by the end of the reporting period[72]. - The company has fully utilized the 297.64436 million CNY raised in 2020[72]. Dividend Policy - The company reported a profit distribution plan to distribute a cash dividend of 1.7 RMB per 10 shares (including tax) to all shareholders, based on a total of 1,228,605,321 shares[5]. - The company plans to distribute a cash dividend of 1.7 CNY per 10 shares, totaling approximately 208.86 million CNY, which represents 12.57% of the net profit attributable to shareholders[89]. - The company's cash dividend payout ratio for 2020 is 4.16% of the total distributable profit of approximately 5.02 billion CNY[91]. - In 2019, the company distributed a cash dividend of 1.80 CNY per 10 shares, totaling approximately 191.83 million CNY, which was 15.07% of the net profit[90]. - The company has maintained a consistent dividend policy over the past three years, with cash dividends increasing from 0.9 CNY in 2018 to 1.7 CNY in 2020[88]. Research and Development - The company launched a new research and development center to enhance its innovation capabilities and support its strategy of becoming a technology-driven chemical new materials enterprise[28]. - The company has developed 10 authorized patents for Acrylic Acid and Esters, showcasing its commitment to innovation and technology advancement[44]. - R&D personnel increased to 307, a rise of 27.92% from 240 in 2019[59]. - R&D expenditure amounted to ¥480,728,916.70, a slight decrease of 0.36% compared to ¥482,476,335.77 in 2019[59]. - The company has established a new R&D center and is focusing on innovation to drive sustainable growth in the chemical new materials sector[36]. Environmental Responsibility - The company emphasizes environmental protection and sustainable development, aiming to minimize its environmental impact through technological innovation[121]. - The company reported a total COD discharge of 21.3658 tons, with a standard limit of 40.1642 tons, indicating compliance[124]. - The ammonia nitrogen discharge was approximately 0.403 tons, well below the limit of 3.4903 tons[124]. - SO2 emissions were recorded at 2.6233 tons, significantly lower than the allowable limit of 40.214 tons[124]. - The company achieved a VOCs discharge of 173.6591 tons, adhering to the standard of ≤100 mg/m³[125]. - The total nitrogen discharge was 9.739 tons, which is below the regulatory limit of 26.7761 tons[124]. - The company operates 16 discharge points for waste gas, with 4 sets in the east plant area and 7 sets in the south plant area[124]. - The company has constructed two wastewater treatment facilities with treatment capacities of 1,800 tons/day and 1,300 tons/day, controlling COD discharge to ≤60 mg/L after upgrades[128]. Corporate Governance - The company has established a comprehensive internal control system to enhance decision-making mechanisms[120]. - The company has not engaged in any entrusted financial management or loans during the reporting period[116][117]. - The company has not conducted any major contracts or other significant contracts during the reporting period[118][119]. - The company emphasizes social responsibility and actively engages with stakeholders to balance interests and promote sustainable development[185]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate communication with investors[185]. - The company operates independently in business, personnel, assets, institutions, and finance, with a complete supply, production, and sales system[187]. - The company has independent production facilities and owns all related assets, including land, buildings, machinery, trademarks, and patents, with clear asset ownership[188]. - The company has established an independent financial department with a separate accounting system and does not share bank accounts with the controlling shareholder[189]. Market Expansion and Strategy - The company is expanding its market presence with projects in the United States, Singapore, and Hong Kong, with the Orbit project in the U.S. successfully commencing production at the end of 2020[28]. - The company is focused on building a C3 industrial chain, which includes propylene production and high-performance chemical materials, to meet diverse market demands[27]. - The company aims to become a major hydrogen supplier in the Yangtze River Delta region, leveraging its by-product hydrogen production of 14,000 tons from future projects[34]. - The company is actively pursuing opportunities in hydrogen production as a by-product, aligning with carbon peak and carbon neutrality goals[81]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,828, while the total number of preferred shareholders was 0[152]. - Zhejiang Satellite Holdings Co., Ltd. holds 34.68% of the shares, amounting to 425,019,080 shares, and has pledged 141,600,000 shares[152]. - The top ten shareholders include entities with significant stakes, such as Hong Kong Central Clearing Limited with 4.22% (51,756,212 shares) and Jiaxing Maoyuan Investment Co., Ltd. with 4.16% (51,000,000 shares)[153]. - The actual controller of the company is YANG WEIDONG, who is also the chairman and CEO, with YANG YA ZHEN as the deputy director of the finance center[156]. Employee and Management Structure - The total number of employees in the company is 3,271, with 926 in the parent company and 2,345 in major subsidiaries[176]. - The professional composition includes 1,668 production personnel, 156 sales personnel, 895 technical personnel, 47 financial personnel, and 505 administrative personnel[176]. - The company has established a performance evaluation system that directly links executive compensation to their work performance and KPI completion[174]. - The total remuneration for the vice president, Gao Jun, was reported at 183.9 million RMB, reflecting the high stakes involved in executive management[175]. Risk Management - The company has established a management system for commodity derivatives trading to mitigate risks associated with trading activities[70]. - The company aims to match derivative trading with its operational needs to hedge against price volatility[70]. - The company has not experienced significant changes in its accounting policies for derivatives compared to the previous reporting period[70]. - The company did not identify any significant internal control deficiencies during the reporting period[198].

浙江卫星石化股份有限公司 2019 年年度报告全文 1 浙江卫星石化股份有限公司 2019 年年度报告 2020-025 2020 年 04 月 浙江卫星石化股份有限公司 2019 年年度报告全文 第一节重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连 带的法律责任。 公司负责人杨卫东、主管会计工作负责人王满英及会计机构负责人(会计主 管人员)陈蕴玉声明：保证年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告中所涉及的未来计划、发展战略等前瞻性描述，不代表公司盈利预 测，不构成公司对投资者的实质承诺，投资者及相关人士均应对此保持足够的 风险认识，并且应当理解计划、预测与承诺之间的差异。请投资者注意投资风 险。 公司经本次董事会审议通过的利润分配预案为：以 1,065,705,806 股为基数， 向全体股东每 10 股派发现金红利 1.8 元（含税），送红股 0 股（含税），不以公 积金转增股本。 2 浙江卫星石化股份有限公司 2019 年年度报告全文 第十三节 备 ...