YUANLI(SH:603217)2021-04-15 16:00Financial Performance - The company achieved a net profit attributable to shareholders of 157,791,808.17 RMB for the year 2020, with a surplus reserve of 10,481,133.72 RMB, resulting in a distributable profit of 157,791,808.17 RMB[4]. - A cash dividend of 3.80 RMB (including tax) per 10 shares is proposed, totaling 48,433,280 RMB, which represents 30.69% of the net profit attributable to shareholders for the year[4]. - The company's operating revenue for 2020 was approximately ¥1.22 billion, representing a year-on-year increase of 4.68% compared to ¥1.17 billion in 2019[21]. - The net profit attributable to shareholders for 2020 was approximately ¥157.79 million, an increase of 15.78% from ¥136.29 million in 2019[21]. - The basic earnings per share for 2020 was ¥1.24, a slight increase of 1.64% compared to ¥1.22 in 2019[23]. - The total profit reached ¥185,400,506.61, with a net profit attributable to shareholders of ¥157,791,808.17, reflecting a 15.78% increase year-over-year[45]. - The company reported a total of 122,107.31 million RMB in revenue for the year, representing a year-on-year increase of 4.61%[91]. Assets and Liabilities - The company's total assets as of the end of 2020 were approximately ¥2.56 billion, reflecting a 2.22% increase from ¥2.50 billion at the end of 2019[21]. - The company's net assets attributable to shareholders increased by 4.79% to approximately ¥2.26 billion at the end of 2020, compared to ¥2.16 billion at the end of 2019[21]. - The company's foreign assets amounted to approximately 19 million RMB, representing 0.74% of total assets[37]. - Cash and cash equivalents at the end of the period were ¥199,797,546.06, a 5.86% increase from ¥188,728,984.49 at the end of the previous period[66]. - The company's total assets include trading financial assets of ¥385,000,000.00, representing 15.05% of total assets[66]. Production and Operations - The company has established two major production bases in Shandong and Chongqing, with an annual production capacity of approximately 190,000 tons of fine chemical products[31]. - The company has implemented an "order + safety stock" production model to optimize its production planning based on market demand and order status[32]. - The company’s Chongqing production base is adjacent to the largest adipic acid producer in China, ensuring a stable supply of key raw materials[41]. - The production volume of the dimethyl succinate series was 78,164.83 tons, with a sales volume of 79,171.21 tons, reflecting a 6.53% increase in sales[55]. - The company’s production bases in Weifang and Chongqing facilitate efficient logistics and collaboration with suppliers, reducing costs and enhancing operational efficiency[76]. Research and Development - In 2020, the company applied for 7 invention patents and 24 utility model patents, with a total of 51 patents held by the end of the year, including 16 invention patents[39]. - Research and development expenses increased by 41.12% to ¥54,403,061.24, indicating a commitment to innovation and product development[47]. - The number of R&D personnel is 115, accounting for 16.96% of the total workforce[65]. - The company emphasizes R&D and innovation, achieving key technological breakthroughs in projects such as polycarbonate diol, high-temperature nylon, and decanediamine, enhancing production processes for MDBE and 1,6-hexanediol[81]. Market Position and Strategy - The company is a global leader in the production capacity of mixed dibasic acid dimethyl ester (MDBE®) and has a leading domestic capacity for 1,6-hexanediol and DCP, strengthening its market competitiveness[34]. - The company has formed strategic partnerships with several top global chemical companies, enhancing its market position and brand recognition[39]. - The company is committed to safety and environmental management, achieving zero incidents during the pandemic[43]. - The company plans to actively explore new overseas markets to compensate for export declines caused by the pandemic[107]. - The company aims to enhance its competitive edge by focusing on high-quality development and optimizing its production bases in Shandong and Chongqing during the 14th Five-Year Plan period[98]. Environmental Responsibility - The company has set up a wastewater online monitoring system to ensure compliance with the wastewater discharge standards, with a chemical oxygen demand (COD) discharge of 5.81 mg/L, significantly below the standard limit of 500 mg/L[162]. - The company has implemented a comprehensive air pollution control system, achieving actual emissions of nitrogen oxides at 40.195 mg/L, well below the standard limit of 100 mg/L[165]. - The company has a proactive approach to environmental responsibility, ensuring that all production wastewater is treated and reused, with no external discharge[161]. - The company has established a hazardous waste management plan and a dedicated storage facility for hazardous waste, ensuring compliance with relevant regulations[160]. Shareholder and Governance - The controlling shareholder and related parties have committed to not transferring or managing their shares for 36 months post-IPO[116]. - The company has established commitments to avoid any business competition with its controlling shareholders[123]. - The company will initiate a share buyback if the stock price falls below the audited net asset value per share for 20 consecutive trading days[127]. - The total number of ordinary shares increased from 91,040,000 to 127,456,000 after a capital reserve conversion plan, diluting earnings per share and net assets per share[179]. - The company’s stock structure showed a significant concentration of ownership among the top shareholders, with the top three holding over 63% of the shares[188].