JSSS(SH:600220)2021-04-29 16:00Financial Performance - In 2020, the company achieved a net profit attributable to shareholders of RMB 15,915,009.34, a decrease of 77.29% compared to RMB 70,076,297.17 in 2019[5]. - The total operating revenue for 2020 was RMB 1,972,351,946.25, reflecting a decline of 16.04% from RMB 2,349,026,226.65 in 2019[24]. - The net cash flow from operating activities was RMB 23,945,569.94, down 83.68% from RMB 146,756,605.96 in the previous year[24]. - The net profit attributable to shareholders for the fourth quarter was CNY 26,011,100.58, a significant recovery from a loss of CNY 38,953,413.76 in the first quarter[28]. - Basic earnings per share decreased by 77.35% to CNY 0.0089 in 2020 from CNY 0.0393 in 2019[25]. - Operating profit was CNY 69.59 million, down 59.22% compared to the previous year[44]. - The textile business generated revenue of CNY 1.317 billion, a decrease of 19.64% from the previous year[44]. - The gross margin for the textile business was 19.59%, an increase of 1.22 percentage points year-on-year[44]. - The company reported a significant increase in service fees, with labor services generating 564.51 million RMB, accounting for 100% of the revenue from that segment[102]. - The company achieved a revenue of 66,609.83 million RMB from fabric sales, which is a key product line[102]. Assets and Liabilities - As of the end of 2020, total assets amounted to RMB 4,912,963,339.81, a decrease of 2.01% from RMB 5,013,696,965.61 at the end of 2019[24]. - The net assets attributable to shareholders at the end of 2020 were RMB 2,042,140,759.51, a decrease of 6.31% from RMB 2,179,676,799.83 at the end of 2019[24]. - Total current assets as of December 31, 2020, amounted to CNY 2,414,753,075.63, an increase from CNY 2,332,221,297.96 in 2019, reflecting a growth of approximately 3.5%[170]. - Total current liabilities increased to CNY 2,605,534,956.55 in 2020 from CNY 2,269,408,480.42 in 2019, reflecting an increase of about 14.8%[171]. - The company reported a significant increase in inventory, which stood at CNY 955,023,221.72 in 2020, slightly up from CNY 951,296,590.72 in 2019[170]. Cash Flow - The company’s cash flow from operating activities showed a significant recovery in the fourth quarter, reaching CNY 172,741,809.41 after negative cash flows in the first half of the year[28]. - The net cash flow from operating activities for 2020 was ¥23,945,569.94, a decrease of 83.7% compared to ¥146,756,605.96 in 2019[184]. - Total cash inflow from operating activities was ¥2,349,938,694.39, up 10.4% from ¥2,127,575,057.98 in 2019[184]. - Cash outflow from operating activities increased to ¥2,325,993,124.45, compared to ¥1,980,818,452.02 in 2019, representing a rise of 17.4%[184]. - The ending cash and cash equivalents balance was ¥444,461,294.41, down from ¥578,083,222.68 in 2019, a decrease of 23.2%[184]. Research and Development - The company applied for 38 patents during the reporting period, with 21 patents granted, including 1 invention patent[40]. - The company’s R&D expenses were CNY 13.75 million, a decrease of 17.38% compared to the previous year[48]. - Research and development expenses amounted to CNY 13.75 million, a decrease of 17.25% from CNY 16.64 million in 2019[180]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of RMB 0.10 per share, totaling RMB 17,833,403.26 based on a total share capital of 1,783,340,326 shares[5]. - The total cash dividend proposed for 2020 is RMB 17,833,403.26, distributing RMB 0.10 per 10 shares[89]. - The company distributed a total of RMB 44,583,508.15 in cash dividends for the year 2019, which was 63.62% of the net profit attributable to shareholders[91]. Operational Risks - The company has outlined potential risks in its future development strategies, which are detailed in the report[10]. - The company faces operational risks due to macroeconomic uncertainties and potential declines in market demand[83]. - Fluctuations in raw material prices, particularly wool and coal, pose significant risks to the company's operating costs[83]. - Labor costs have been rising, impacting profit margins, prompting the company to invest in automation to reduce production costs[83]. Environmental Compliance - The company reported no environmental pollution incidents during the reporting period, with total emissions for Huangtang Thermal Power at 53.77 tons/year for particulate matter and 134.42 tons/year for sulfur dioxide[111]. - The company has established wastewater treatment facilities to pre-treat wastewater before centralized processing, ensuring compliance with environmental standards[113]. - The company operates pollution control facilities including bag filters, desulfurization towers, and denitrification systems, with all equipment functioning normally and meeting emission standards[113]. Shareholder Information - The largest shareholder, Jiangsu Sunshine Group Co., Ltd., holds 226,311,454 shares, accounting for 12.69% of the total shares[124]. - The total voting rights held by the major shareholders, including Jiangsu Sunshine Group and other individuals, is 34.23%[125]. - The total number of ordinary shareholders decreased from 100,784 to 99,478 during the reporting period[122]. Management and Governance - The company underwent a management reshuffle, with several new appointments including Gao Qinghua and Miao Feng as deputy general managers[139]. - The company maintains a transparent information disclosure policy, ensuring all shareholders have equal access to information[148]. - The audit committee held six meetings during the reporting period to review financial statements and internal control evaluations[152].