百傲化学(603360) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was CNY 749,541,031.81, a decrease of 14.03% compared to CNY 871,896,072.63 in 2019[20] - The net profit attributable to shareholders for 2020 was CNY 221,754,543.29, down 27.72% from CNY 306,801,352.58 in the previous year[20] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 214,843,244.43, a decrease of 27.81% compared to CNY 297,626,223.40 in 2019[20] - Basic earnings per share decreased by 27.35% to CNY 0.85 in 2020 from CNY 1.17 in 2019[21] - Weighted average return on equity fell by 12.76 percentage points to 20.74% in 2020 from 33.50% in 2019[21] - The company reported a net profit margin of approximately 35.0% for 2020, down from 41.0% in 2019, indicating a decrease in profitability[183] - The total comprehensive income for 2020 was CNY 221,713,080.63, down from CNY 306,929,021.88 in 2019, indicating a decline of 27.77%[185] Cash Flow and Assets - The net cash flow from operating activities for 2020 was CNY 210,615,284.82, down 12.27% from CNY 240,066,206.82 in 2019[20] - The company's cash and cash equivalents increased to CNY 333,068,462.74, compared to CNY 242,123,892.62 in the previous year, marking a growth of approximately 37.6%[176] - Total liabilities rose to CNY 396,056,440.26 in 2020 from CNY 108,250,973.30 in 2019, a significant increase of 266.5%[182] - The company's equity decreased to CNY 1,032,575,070.98 in 2020 from CNY 1,089,165,801.99 in 2019, a decline of 5.2%[182] - The total assets increased to CNY 1,428,631,511.24 in 2020 from CNY 1,197,416,775.29 in 2019, an increase of 19.3%[182] Revenue Breakdown - The company's domestic sales accounted for approximately 53% of total revenue, while international sales made up about 47%, with key markets in Europe, Asia, and North America[31] - The company’s international revenue accounts for nearly half of its total income, primarily from major clients like Dow Chemical and Lanxess[83] - The company reported a total non-current asset value of RMB 818,180,539.83, up from RMB 667,500,104.59 in 2019, indicating a growth of approximately 22.6%[177] Production and Capacity - The company has an annual production capacity of over 30,000 tons of isothiazolinone industrial biocides, with plans to expand capacity to over 40,000 tons by the end of 2021 due to ongoing construction of the Songmu Island Phase III project[41] - The production volume of industrial biocides reached 35,369.77 tons, representing a year-on-year increase of 12.03%, with a capacity utilization rate of 96%[85] - The company has established long-term stable partnerships with major international clients such as Dow Chemical, Lonza, and Lanxess, enhancing its market position[33] Research and Development - Research and development expenses increased by 1.53% to ¥28,569,156.99, accounting for 3.81% of total revenue[55] - The company has 16 invention patents and 8 utility model patents, reflecting its strong R&D capabilities and commitment to technological innovation[36] - Research and development investments over the past three years were 19.15 million RMB, 28.14 million RMB, and 28.57 million RMB, accounting for 3.63%, 3.23%, and 3.81% of revenue respectively, indicating a steady increase[82] Environmental and Safety Compliance - The company has faced environmental protection risks due to its classification as a heavily polluting industry, leading to increased environmental spending and costs[86] - The company has committed to strict adherence to environmental and safety regulations, which may impact continuous production due to potential shutdowns during inspections[86] - The company operates 22 sets of exhaust gas treatment devices, utilizing multi-stage condensation and absorption technology to prevent uncontrolled gas emissions[109] Shareholder Information - The top shareholder, Dalian Tongyun Investment Co., Ltd., holds 75,786,668 shares, representing 29.00% of the total shares[128] - The total number of ordinary shareholders increased to 15,716 by the end of the reporting period[126] - The company has undergone a change in controlling shareholders, with Dalian Tongyun Investment becoming the primary shareholder as of February 7, 2020[131] Management and Governance - The total pre-tax compensation for the board members and senior management during the reporting period amounted to 6.7054 million CNY[144] - The management team has extensive experience in various sectors, including finance, chemical engineering, and corporate management[146] - The company confirmed that there were no significant differences in corporate governance compared to the requirements set by the China Securities Regulatory Commission[161]