Jinrui Mineral(SH:600714)2021-04-05 16:00Financial Performance - In 2020, the company achieved a net profit of CNY 3,580,123.88, compared to a net loss of CNY 9,422,843.51 in 2019, marking a significant turnaround[5]. - The company's operating revenue for 2020 was CNY 163,014,838.22, a decrease of 2.21% from CNY 166,701,986.75 in 2019[19]. - The net cash flow from operating activities was CNY 4,352,920.40, down 84.93% from CNY 28,890,048.78 in 2019[19]. - Basic earnings per share for 2020 were CNY 0.012, recovering from a loss of CNY 0.03 in 2019[20]. - The weighted average return on equity for 2020 was 0.58%, up from -1.52% in 2019[20]. - The company reported a significant improvement in net profit in the fourth quarter, reaching CNY 3,209,794.72, compared to a loss in the first quarter[22]. - The company reported a total non-recurring gains and losses of RMB 3,190,851.31 in 2020, compared to RMB 1,493,283.02 in 2019, indicating a significant increase[23]. - The company reported a net profit attributable to shareholders of 3.58 million yuan, marking a turnaround from a loss in the previous year[34]. - The company reported a net loss of CNY 31,616,338.73 in 2020, an improvement from a loss of CNY 32,511,370.86 in 2019[169]. Assets and Liabilities - The total assets at the end of 2020 were CNY 687,391,535.64, reflecting a 1.95% increase from CNY 674,251,448.98 at the end of 2019[19]. - The company's net assets attributable to shareholders at the end of 2020 were CNY 620,090,412.42, a slight increase of 0.72% from CNY 615,682,965.28 in 2019[19]. - Total liabilities increased to CNY 67,301,123.22 from CNY 58,568,483.70, reflecting a growth of around 14.81%[165]. - Current liabilities rose to CNY 55,832,423.09 in 2020, compared to CNY 46,923,163.61 in 2019, marking an increase of approximately 19.99%[165]. - The total equity attributable to the parent company at the end of the period was CNY 615,682,965.28[186]. Revenue and Sales - In 2020, the company's strontium salt business achieved operating revenue of 160.85 million yuan, a year-on-year increase of 31.07%[34]. - The actual production of strontium carbonate was 19,176 tons, exceeding the planned target by 4.77% and showing a year-on-year increase of 12.35%[35]. - The sales volume of strontium carbonate reached 16,988 tons, achieving a completion rate of 147.85% compared to the plan, with a year-on-year increase of 31.83%[35]. - The company's operating income decreased by 2.21% year-on-year to 163.01 million yuan[42]. - The gross profit margin in the chemical industry decreased by 6.58 percentage points to 10.93%[42]. Research and Development - The company has a total of 57 patents, including 5 invention patents, enhancing its competitive edge in strontium salt production technology[30]. - Research and development expenses amounted to 5,742,316.31 RMB, representing 3.52% of total operating revenue[50]. - The company is focused on continuous technological upgrades and production process optimization to enhance product quality and market competitiveness[29]. - The company has implemented a digital workshop for the production of metal strontium and intermediate alloys, showcasing advancements in production technology[62]. Environmental and Safety Management - The company has committed to enhancing safety and environmental management to mitigate production cost increases[84]. - The company has implemented strict environmental management practices, ensuring all pollutants were discharged according to national standards without incurring penalties from environmental authorities[106]. - The company has established an emergency response plan for environmental incidents to ensure safety and control risks[110]. - The company has conducted environmental monitoring through third-party agencies, with all results meeting compliance standards[110]. Corporate Governance - The company’s governance structure is robust, with a low debt-to-asset ratio and ample cash flow, providing a solid foundation for sustainable development[31]. - The company maintains a governance structure that ensures independence from its controlling shareholder, adhering to legal and regulatory requirements[138]. - The company’s board of directors evaluated the performance of senior management based on the completion of annual business objectives and proposed compensation plans accordingly[147]. - The company’s audit committee effectively supervised the external audit and guided the internal audit department to enhance internal controls[144]. Market and Competition - The company has identified key competitors in the strontium salt industry, with production capacities ranging from 20,000 to 50,000 tons per year for major players[79]. - The company is actively expanding its market presence through online platforms and maintaining customer relationships via various communication methods[59]. - The company employs an "order-based production" model, allowing for dynamic adjustments based on customer demand and market changes[58]. Shareholder Information - The controlling shareholder, Qingtou Group, entered a restructuring process due to debt risks, which may lead to changes in control and poses significant uncertainty for the company[84]. - The cash dividend policy remained unchanged during the reporting period, ensuring the protection of minority shareholders' rights[85]. - The company did not distribute profits for the year 2020, with a reported undistributed profit of -32,511,370.86 RMB for the parent company and -1,563,255.12 RMB for the consolidated statements[85]. Employee and Management - The total number of employees with a graduate degree or above is only 2, highlighting a workforce primarily composed of individuals with lower educational qualifications[133]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to 203.51 million RMB[126]. - The company employed a total of 328 staff, with 216 in production, 6 in sales, 49 in technology, 10 in finance, and 47 in administration[133].