WSBE(SH:600421)2021-04-27 16:00Financial Performance - The net profit attributable to shareholders for 2020 was CNY 9,945,240.71, a 204.71% increase compared to CNY 3,263,817.98 in 2019[5]. - The total operating revenue for 2020 reached CNY 140,188,499.49, representing a 502.50% increase from CNY 23,267,767.22 in 2019[22]. - The company reported a negative net profit of CNY 4,298,916.82 after deducting non-recurring gains and losses, compared to a negative CNY 7,073,257.30 in 2019[22]. - The company reported a net profit of RMB 1.54 million, with a net profit attributable to shareholders of RMB 994.52 thousand[30]. - The company reported a net loss of ¥-416,253,027.79 in 2020, an improvement from a loss of ¥-426,198,268.50 in 2019[148]. - The company reported a total comprehensive income for 2020 of -2,567,768.15 RMB, down from 5,736,175.13 RMB in 2019, indicating a significant decline[158]. Cash Flow - The net cash flow from operating activities was negative CNY 31,692,194.55, a decrease of 619.72% compared to CNY 6,097,925.24 in 2019[22]. - Operating cash flow showed a negative net amount of RMB -31.69 million, a decline of 619.72% compared to the previous year[39]. - The company’s investment activities generated a net cash inflow of 36,908,834.82 RMB in 2020, compared to 6,259,681.27 RMB in 2019, reflecting a substantial increase[160]. - The net cash flow from investing activities was ¥36,908,834.82, an increase of 489.63% year-on-year[48]. - The net cash flow from financing activities was -$9,275,606.03, with cash inflows of $5,500,000.00 and outflows totaling $14,775,606.03[163]. Assets and Liabilities - The company's total assets as of the end of 2020 were CNY 121,397,457.22, a slight increase of 1.51% from CNY 119,590,562.34 at the end of 2019[22]. - Total liabilities decreased to ¥58,996,194.50 in 2020 from ¥65,918,705.04 in 2019, a reduction of 10.5%[148]. - The company's total assets decreased to ¥40,980,790.44 in 2020 from ¥56,669,401.55 in 2019, a decline of about 27.7%[152]. - The company's total equity attributable to shareholders increased to ¥36,126,365.87 in 2020 from ¥25,208,641.41 in 2019, a growth of 43.4%[148]. - The total equity at the end of the year was $53,671,857.30, reflecting a net increase due to comprehensive income and other adjustments[166]. Research and Development - Research and development expenses surged by 563.90% to RMB 6.78 million, reflecting the company's commitment to innovation[39]. - Total R&D expenses amounted to ¥6,783,873.17, representing 4.84% of total revenue[47]. - The company is investing heavily in R&D, with a budget allocation of 100 million for new technology development in 2021[103]. Shareholder Information - The total number of ordinary shareholders increased from 4,995 to 5,205 during the reporting period[90]. - The top shareholder, Zhejiang Hengshun Investment Co., Ltd., holds 19.50% of the shares, totaling 38,136,775 shares[91]. - The top ten shareholders hold a total of 112,000,000 shares, with Zhejiang Hengshun Investment Co., Ltd. being the largest shareholder with 38,136,775 shares[92]. Corporate Governance - The company has a governance structure that complies with the requirements of the Company Law and the Securities Law, ensuring independent operation of the board and supervisory committee[120]. - The company has maintained independence from its controlling shareholder, with no significant related party transactions beyond necessary daily operations[121]. - The company has implemented a transparent performance evaluation and incentive mechanism for its directors and senior management[121]. Market Strategy - The company is actively pursuing new business opportunities and market expansion in the prefabricated construction sector[34]. - The company aims to increase the proportion of prefabricated buildings in new constructions to 30% within the next decade, in line with national policies[57]. - The company plans to enhance the core competitiveness of its products and expand into emerging markets while continuing to develop its main business in Zhejiang Zhuangchen[58]. Compliance and Risks - The company did not report any significant risks or non-compliance issues in the decision-making process for external guarantees[8]. - The company has not faced any major litigation or arbitration matters during the reporting period[77]. - The company has not identified any risks related to suspension or termination of its listing status[77]. Future Outlook - The company provided a positive outlook for 2021, projecting a revenue growth of 15% to 1.725 billion[103]. - New product launches are expected to contribute an additional 200 million in revenue in 2021[103]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million allocated for potential mergers and acquisitions[103].