BGRIMMTEC(SH:600980)2021-03-29 16:00Financial Performance - In 2020, the company's operating revenue reached ¥546,040,482.64, representing a year-on-year increase of 9.53% compared to ¥498,539,267.50 in 2019[24] - The net profit attributable to shareholders of the listed company was ¥47,867,067.84, an increase of 5.39% from ¥45,420,231.46 in the previous year[24] - The net profit after deducting non-recurring gains and losses increased by 36.21% to ¥30,470,540.74 from ¥22,369,875.26 in 2019[24] - The basic earnings per share rose to ¥0.3084, a 3.49% increase from ¥0.2980 in 2019[25] - The total profit for the year was 5,643.11 million yuan, reflecting a 6.51% increase compared to the previous year[49] - The company achieved operating revenue of CNY 546.04 million, an increase of 9.53% compared to the previous year[64] - The operating profit for the period was CNY 56.43 million, with a net profit attributable to shareholders of CNY 47.87 million[62] Cash Flow and Assets - The net cash flow from operating activities decreased by 76.39% to ¥18,982,345.27, down from ¥80,405,049.28 in the previous year[24] - The total assets of the company at the end of 2020 were ¥908,687,432.39, reflecting a 7.54% increase from ¥844,976,188.89 in 2019[24] - The company's net cash flow for the year was 508.5 thousand yuan, a decrease of 5,040.62 thousand yuan compared to the previous year's net cash flow of 5,091.47 thousand yuan[80] - The net cash flow from operating activities was 1,898.23 thousand yuan, down 6,142.27 thousand yuan from the previous year's 8,040.50 thousand yuan, primarily due to increased cash payments for goods[80] Research and Development - The company emphasizes ongoing investment in technology and product development to capture market opportunities[26] - Research and development expenses rose by 31.50% to CNY 30.54 million, reflecting a commitment to innovation[64] - The company launched several new technologies, including a 1250KW large vertical mill and intelligent shaking bed robots, contributing to market expansion[51] - The company is developing intelligent mining equipment, including large intelligent flotation machines and intelligent inspection robots, to enhance competitiveness[53] - The company has established a technology center to focus on major new product research and development[54] Market Strategy and Expansion - The company aims to leverage opportunities from the "Belt and Road" initiative to expand its international market presence while consolidating its domestic market[34] - The company actively expanded its market presence in countries along the Belt and Road, achieving significant progress in international market development[51] - The company plans to enhance its marketing strategies and service quality to mitigate risks associated with accounts receivable and improve brand influence[102] - The company aims to expand its international market presence, particularly in Japan and Southeast Asia, while strengthening its domestic market in East and South China[99] Product Development and Innovation - The company is focusing on the development of new high-performance sintered permanent magnetic materials, including BMS-13, BMS-14, and BMS-15, to create new profit growth points[99] - The company has developed various new high-efficiency mining equipment and holds a significant market share in the domestic mining equipment sector, particularly in large flotation systems[44] - The company successfully developed a new generation of large flotation machines and advanced magnetic separation technologies, enhancing competitive advantages[56][57] Corporate Governance and Management - The company has established a governance structure with a clear division of responsibilities among its board members[164] - The company has implemented a comprehensive performance assessment system, linking results directly to employee compensation[59] - The company has established a talent development mechanism to build a high-level technology talent team, leveraging national-level research and industrialization projects[100] - The company has maintained a consistent leadership structure, with most members serving from 2021 to 2024[157] Social Responsibility and Community Engagement - The company donated 48,000 yuan for environmental improvement in Pingyu County as part of its poverty alleviation efforts[131] - The company actively participated in COVID-19 pandemic prevention efforts, with total voluntary donations exceeding 20,000 yuan[131] - The company invested a total of 7.8 million RMB in targeted poverty alleviation efforts[132] - The company plans to continue its commitment to poverty alleviation through job creation, industry development, and talent training[134] Risks and Challenges - The magnetic materials industry is currently facing direct impacts on exports due to US-China trade tensions and geopolitical conflicts, leading to a decline in demand from downstream industries[91] - The company is actively addressing risks related to raw material price fluctuations and foreign exchange rate changes to safeguard its operational performance[103] Shareholder Information - The company has not adjusted its profit distribution policy during the reporting period, ensuring compliance and transparency in its decision-making processes[105] - The company’s controlling shareholder committed to not interfering with the company's management and to compensate for any losses caused by violations of this commitment[111] - The total number of ordinary shareholders at the end of the reporting period was 24,913, a decrease from 25,218 at the previous month-end[141] Audit and Compliance - The internal control audit report issued by Da Hua Accounting Firm provided a standard unqualified opinion, indicating no significant deficiencies in internal controls[186] - The company has engaged Da Hua Accounting Firm for financial auditing at a fee of 450,000 CNY for the year 2020[117] - The company’s financial statements were prepared in accordance with accounting standards, reflecting a true and fair view of its financial position as of December 31, 2020[192]