FSSS(SH:600399)2021-03-30 16:00Financial Performance - In 2020, the company achieved a net profit of RMB 543.18 million, with a retained earnings of RMB 768.95 million by year-end[7]. - The total operating revenue for 2020 was RMB 6.272 billion, with a net asset value of RMB 5.030 billion attributed to shareholders[12]. - The net profit attributable to shareholders was RMB 552 million, while the net profit after deducting non-recurring gains and losses was RMB 510 million[12]. - The company's operating revenue for 2020 was approximately ¥6.27 billion, an increase of 9.26% compared to ¥5.74 billion in 2019[28]. - Net profit attributable to shareholders for 2020 was approximately ¥551.61 million, representing an 82.64% increase from ¥302.03 million in 2019[28]. - The basic earnings per share for 2020 was ¥0.28, up 86.67% from ¥0.15 in 2019[31]. - The weighted average return on equity increased to 11.61% in 2020, up by 4.63 percentage points from 6.98% in 2019[31]. - The total assets at the end of 2020 were approximately ¥9.22 billion, a 7.85% increase from ¥8.55 billion at the end of 2019[28]. - The net cash flow from operating activities for the fourth quarter of 2020 was approximately ¥608.84 million, a significant recovery from negative cash flow in the earlier quarters[32]. - The company reported a total of ¥41.59 million in non-recurring gains and losses for 2020, with government subsidies contributing ¥36.97 million[35]. Production and Sales - The company produced 641,700 tons of steel in 2020, an increase of 8.45% year-on-year, and 504,600 tons of steel products, up 7.84% year-on-year[12]. - The total sales order volume for the year reached 605,200 tons, with key products such as high-temperature alloys and high-strength steel seeing a 70% increase in orders to 84,800 tons[45]. - The company achieved a steel production of 641,700 tons, an increase of 8.45% year-on-year[47]. - The total revenue reached 6.272 billion RMB, reflecting a year-on-year growth of 9.26%[47]. - The company invested 407 million yuan in R&D in 2020, focusing on high-end alloy and special steel materials for industries such as aerospace and nuclear energy[41]. Research and Development - The company developed over 260 new products in 2020 and was granted 11 invention patents and 2 utility model patents[45]. - The company has 10 national research projects approved in 2020, with a total of 45 ongoing research projects[45]. - The company is committed to enhancing its research and development capabilities through collaborations with research institutions and military units[86]. - Research and development expenses rose to 406.8 million RMB, a 34.73% increase from the previous year[50]. - The company has established stable strategic partnerships with several research institutions and universities to enhance its R&D capabilities[41]. Legal and Regulatory Issues - The company has faced a total of 1,280 lawsuits related to securities false statements, with a total claim amount of RMB 201.06 million[11]. - As of the report date, the company has been ordered to pay RMB 22.40 million in compensation for 645 concluded cases[11]. - The company has submitted an application to revoke the risk warning on its stock, which will be decided within ten trading days[12]. - The company is involved in multiple lawsuits related to contract disputes, with claims totaling 2,927,651.75 RMB and 184,036.6 RMB from different parties[133]. Corporate Governance and Shareholder Relations - The company plans no profit distribution or capital reserve transfer for 2020[7]. - The company has not made any profit distribution or capital reserve transfers for the 2020 fiscal year[95]. - The company is committed to avoiding conflicts of interest with its controlling shareholder and ensuring fair pricing in related transactions[103]. - The management structure of Fushun Special Steel will remain independent, with no interference from Northeast Special Steel Group in personnel decisions[110]. - The company has committed to not engaging in any form of improper benefit-seeking through its control over Fushun Special Steel[107]. Environmental Responsibility - The company has implemented various environmental protection measures, including the construction of pollution control facilities and regular monitoring of emissions[180]. - The company has installed online monitoring equipment at key discharge points, ensuring compliance with environmental regulations[183]. - The company has not experienced any major environmental protection responsibility accidents in 2020[180]. - The company is committed to social responsibility, focusing on economic benefits while protecting the environment and supporting community development[176]. Future Plans and Investments - The company plans to achieve a steel production volume of 640,000 to 680,000 tons and a revenue of 6.5 billion to 7 billion yuan in 2021[87]. - The company plans to continue enhancing management measures and optimizing product structure to further improve profitability in the future[31]. - The company plans to invest a total of RMB 790 million in three production projects, with RMB 328 million allocated for 2020, but actual payments were less due to delays caused by the COVID-19 pandemic[100]. - For 2021, the company plans to invest RMB 477 million in ongoing projects and RMB 242 million in new technology transformation projects, totaling RMB 719 million in planned investments[100].