Apple Group(SH:603020)2023-04-26 16:00Dividend Policy - The company plans to distribute a cash dividend of 1.60 RMB per 10 shares, totaling 51,200,000 RMB (including tax) based on a total share capital of 320,000,000 shares as of December 31, 2020[5]. - In 2020, the company distributed a cash dividend of 1.60 CNY per 10 shares, totaling 51,200,000.00 CNY, with a net profit attributable to ordinary shareholders of 169,236,456.22 CNY, resulting in a payout ratio of 30.25%[135]. - In 2019, the cash dividend was 1.50 CNY per 10 shares, amounting to 48,000,000.00 CNY, with a net profit of 115,545,106.76 CNY, leading to a payout ratio of 41.54%[135]. - In 2018, the cash dividend was 1.10 CNY per 10 shares, totaling 35,200,000.00 CNY, with a net profit of 109,538,128.29 CNY, resulting in a payout ratio of 32.13%[135]. - The company has a cash dividend policy that mandates a minimum of 20% of distributable profits be allocated for cash dividends, with higher percentages for mature stages without major capital expenditures[133]. Financial Performance - The company's operating revenue for 2020 was approximately ¥2.67 billion, representing a year-over-year increase of 7.82% compared to ¥2.47 billion in 2019[23]. - Net profit attributable to shareholders for 2020 was approximately ¥169.24 million, a significant increase of 46.47% from ¥115.55 million in 2019[23]. - The basic earnings per share for 2020 was ¥0.5289, reflecting a 46.47% increase compared to ¥0.3611 in 2019[24]. - The weighted average return on equity increased to 7.97% in 2020, up by 2.26 percentage points from 5.71% in 2019[24]. - The net cash flow from operating activities for 2020 was approximately ¥220.24 million, a slight increase of 2.74% from ¥214.37 million in 2019[23]. - The company's total assets at the end of 2020 were approximately ¥2.76 billion, marking a 6.27% increase from ¥2.60 billion at the end of 2019[23]. - The company reported a net profit of approximately ¥32.78 million in Q4 2020, with total revenue for the quarter reaching approximately ¥710.55 million[26]. Market Position and Strategy - The company has established itself as a well-known brand in the domestic spice and flavor industry, particularly in the food flavor sector, over more than 20 years of development[43]. - The company maintains a competitive advantage in the industrial chocolate and jam sectors, primarily through direct sales to food processing manufacturers[38]. - The company has a significant presence in the industrial chocolate market, ranking among the top producers in China, despite facing competition from international giants[44]. - The company adopts a "distribution + direct sales" model for its spice, flavor, and food ingredient sales, enhancing product reach and customer service[37]. - The company is focused on providing comprehensive food ingredient and flavor solutions to support the domestic food market's consumption upgrade[117]. Research and Development - The company’s R&D focuses on the development of flavors, fragrances, and food ingredients, which are widely used in various industries including food and beverage[33]. - The total R&D expenditure for the period was ¥34,034,181.33, accounting for 1.28% of the operating revenue[71]. - The number of R&D personnel was 130, representing 10.98% of the total workforce[71]. - The company has no capitalized R&D expenditures for the period, indicating a focus on expensing R&D costs[71]. - The company continues to enhance the research and application of flavor and fragrance products, focusing on functional flavor development and green synthesis processes to improve market share[119]. Risk Management - The company has detailed risks faced in the report, urging investors to pay attention to these risks[8]. - The company emphasizes that forward-looking statements do not constitute substantial commitments to investors, highlighting investment risks[6]. - The company is aware of risks related to the ongoing COVID-19 pandemic, which may impact its operations and international trade due to potential supply chain disruptions and decreased consumer demand[125]. - The company has established a rigorous food safety control system, but remains vigilant against potential risks from third-party logistics and storage services that could affect its brand image[126]. Environmental Compliance - The company has achieved ISO 14001:2015 certification for its environmental management system, but must remain compliant with evolving environmental regulations that could impact operations[130]. - The company has a wastewater treatment capacity of 300 tons per day, ensuring effective management of production and emergency wastewater[170]. - The company has established a hazardous waste storage facility and signed contracts with qualified disposal companies for proper waste management[173]. - The company has maintained compliance with environmental regulations, holding valid pollution discharge permits from relevant authorities[174]. - The company reported a total COD emission of 4.7 tons, which is below the regulatory limit of 500 mg/l, indicating no exceedance of standards[168]. Shareholder Relations - The company’s actual controller and major shareholders have made commitments regarding share transfers and management to ensure market stability[137]. - Major shareholders are restricted from transferring shares for twelve months post-IPO and must adhere to specific conditions regarding share sales thereafter[139]. - The company has not engaged in share buybacks during the reporting period[136]. - The total number of ordinary shareholders at the end of the reporting period was 21,407, a decrease from 21,691 at the end of the previous month[187]. - The largest shareholder, Wei Zhonghao, holds 113,220,000 shares, representing 35.38% of the total shares[189]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% driven by new product launches and market expansion[199]. - New product development efforts have resulted in the introduction of three innovative fragrance lines, expected to contribute an additional 200 million yuan in revenue[199]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 10% market share within the next two years[199]. - A strategic acquisition of a smaller competitor is in progress, which is anticipated to enhance the company's market position and increase overall revenue by 15%[199]. - The company has allocated 100 million yuan for research and development in new technologies aimed at improving product quality and production efficiency[199].