LFD(SH:600149)2021-03-30 16:00Financial Performance - The company achieved a consolidated net profit of ¥37,350,916.44 in 2020, with cumulative distributable profits for shareholders at -¥313,006,350.11, leading to no profit distribution for the year [4]. - Operating revenue for 2020 was ¥196,979,597.65, representing a 5.19% increase from ¥187,255,191.96 in 2019 [20]. - Net profit attributable to shareholders increased by 328.19% to ¥10,809,433.78 in 2020 from ¥2,524,445.51 in 2019 [20]. - Basic earnings per share rose to ¥0.0284 in 2020, a 330.30% increase compared to ¥0.0066 in 2019 [21]. - The company reported a net cash flow from operating activities of ¥24,524,866.64 in 2020, a significant recovery from -¥11,144,423.70 in 2019 [20]. - The company achieved a total non-operating income of 9,485,972.82 RMB in 2020, a significant increase from 1,137,012.07 RMB in 2019 [24]. - The company reported a government subsidy income of 2,144,712.44 RMB in 2020, up from 200,993.79 RMB in 2019 [24]. - The company reported a significant increase in sales expenses, which rose to RMB 197,579.65 million in 2020 from RMB 139,146.99 million in 2019, indicating higher marketing efforts [169]. - The company reported a total comprehensive income of 10,809,482.66 RMB, which includes a significant loss in other equity instruments [178]. Assets and Liabilities - Total assets decreased by 5.05% to ¥672,770,202.50 at the end of 2020 from ¥708,559,821.07 at the end of 2019 [20]. - The company's total liabilities increased by 74.87% to 35.0403 million yuan, primarily due to undiscounted commercial bills [60]. - The company's total equity decreased to ¥185,335,908.58 in 2020 from ¥189,390,851.19 in 2019, a decline of 2.9% [165]. - The company's cash and cash equivalents decreased to ¥107,998,031.83 from ¥132,402,862.03, a decline of about 18.41% [159]. - The total liabilities to equity ratio improved slightly from 1.67 in 2019 to 1.63 in 2020, indicating a marginal decrease in financial leverage [161]. - The company's inventory decreased from ¥22,471,483.07 in 2019 to ¥10,658,861.62 in 2020, reflecting a reduction of about 52.61% [160]. Business Operations - The company operates in a market area exceeding 100 square kilometers, making it the largest heating enterprise in Langfang City [26]. - The company signed contracts for heating projects covering 907,400 square meters and framework agreements for 1,720,000 square meters during the reporting period [39]. - The heating business revenue was CNY 193.98 million, with a gross margin of 35.32%, an increase of 4.70 percentage points compared to the previous year [50]. - The company has established a core team with expertise in centralized and distributed heating technologies, enhancing its operational capabilities [35]. - The company is focusing on expanding its heating market in Langfang City and surrounding areas, leveraging its state-owned background [40]. - The company has implemented technological upgrades to existing heating projects, focusing on energy efficiency and environmental protection [36]. Strategic Development - The company plans to focus on future development strategies, although specific commitments were not disclosed due to investment risks [5]. - The company is positioned in the core functional area of the Beijing-Tianjin-Hebei coordinated development strategy, which is expected to drive business expansion [32]. - The company aims to enhance product and service quality in response to increased environmental standards, pushing for technological innovation and equipment upgrades in 2021 [69]. - The company plans to stabilize and expand its heating market by leveraging its state-owned background and technical expertise, targeting new heating projects and optimizing existing ones [73]. - The company plans to enhance its investment strategy to improve cash flow and operational efficiency in the upcoming year [175]. Governance and Compliance - The company has not faced any major litigation or arbitration matters during the reporting period, ensuring a stable legal environment [86]. - The company has retained Zhongxinghua Accounting Firm for the 2020 financial and internal control audit, with a remuneration of CNY 350,000 for the audit services [85]. - The company has established a remuneration and assessment committee to supervise the performance and remuneration system of senior management, enhancing the evaluation and incentive mechanisms [142]. - The company strictly adheres to information disclosure requirements, ensuring timely and accurate reporting through designated channels [132]. - The company has not reported any stock changes for its board members during the reporting period [114]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 29,437, an increase from 28,595 at the end of the previous month [101]. - Evergrande Group holds 76,032,050 shares, representing 20.00% of the total shares, while Langfang Investment Holding Group holds 58,173,700 shares, accounting for 15.30% [103]. - The largest shareholder, Evergrande Group, has not changed its shareholding during the reporting period [103]. - The company has not proposed any cash profit distribution plans despite having positive distributable profits for the reporting period [82]. Environmental Responsibility - The company has implemented advanced pollution control technologies, achieving emissions standards of less than 10 mg/m³ for dust, 35 mg/m³ for sulfur dioxide, and 80 mg/m³ for nitrogen oxides [95]. - The company emphasizes its commitment to environmental protection and energy conservation as part of its corporate social responsibility [93]. - The company is actively responding to national policies on clean heating and emissions reduction, enhancing its operational standards [29].