AGNM(SH:603429)2021-03-19 16:00Dividend Distribution - The company plans to distribute a cash dividend of 1 RMB per 10 shares, totaling approximately 38 million RMB, subject to shareholder approval[5]. - The company has maintained a consistent dividend distribution policy, adjusting the total amount based on changes in share capital[5]. - The company’s cash dividend distribution is contingent upon profitability, with a requirement that the retained earnings at the beginning of the year must be positive[107]. - The company has a cash dividend policy that mandates a minimum of 80% cash distribution during mature stages without major capital expenditures[110]. - The cash dividend distribution was set at 0.26 yuan per share (including tax), totaling 70,615,806.30 yuan, alongside a capital reserve increase of 0.4 shares per share, resulting in 108,639,702 shares being distributed[185]. - In 2019, the company distributed a cash dividend of 2.60 RMB per 10 shares and a stock dividend of 4 shares per 10 shares, totaling 70,615,806.30 RMB, which accounted for 35.01% of the net profit attributable to ordinary shareholders[116]. - In 2018, the cash dividend was 2.00 RMB per 10 shares and a stock dividend of 3 shares per 10 shares, totaling 38,080,000.00 RMB, representing 33.00% of the net profit attributable to ordinary shareholders[116]. Financial Performance - In 2020, the company's operating revenue was CNY 464,167,939.36, a decrease of 30.88% compared to CNY 671,499,238.86 in 2019[24]. - The net profit attributable to shareholders was CNY 71,777,302.46, down 64.41% from CNY 201,689,573.88 in 2019[24]. - The basic earnings per share decreased to CNY 0.19, a decline of 66.07% from CNY 0.56 in 2019[25]. - The weighted average return on equity dropped to 6.03%, a decrease of 17.47 percentage points from 23.50% in 2019[25]. - Cash flow from operating activities was CNY 173,638,772.72, down 20.11% from CNY 217,346,312.94 in 2019[24]. - The company attributed the revenue decline primarily to the impact of COVID-19 and a decrease in product bidding prices[26]. - The company reported a total profit of 12,596,392.00 in the current period, with a significant increase compared to previous periods[30]. Risk Management - The company reported no significant risks affecting its production and operations during the reporting period[8]. - The company emphasizes the importance of risk awareness in its forward-looking statements, advising investors to consider investment risks[6]. - The company faces risks related to high customer concentration, which could impact business volume if major clients' demand decreases[97]. - Fluctuations in raw material prices, such as paper and aluminum, could affect the company's gross margin and profitability[98]. - Increased market competition and the need for supplier qualification may pose challenges for new entrants in the cigarette packaging materials industry[99]. Corporate Governance - The audit report issued by Da Hua Certified Public Accountants confirmed the financial report's authenticity and completeness[4]. - The company has established a sound corporate governance structure in compliance with relevant laws and regulations, ensuring effective internal control systems are in place[198]. - The board of directors has made effective resolutions on key matters such as profit distribution and capital increase, adhering to legal and regulatory requirements[198]. - Independent directors have actively participated in decision-making and maintained the interests of all shareholders without raising objections to board resolutions[199]. - The company has committed to fulfilling all public commitments made during its IPO process, including extending the lock-up period for shares if commitments are not met[133]. Research and Development - The company has over 100 dedicated R&D personnel and has developed dozens of new products annually, strengthening its market position[46]. - The company has achieved significant technological advancements, with 2 products recognized as provincial high-tech products and nearly 100 patents[47]. - The company is focusing on integrating new technologies and processes related to new tobacco products, positioning itself as a key player in the innovation of the tobacco industry[89]. - The company plans to invest in technology innovation and R&D, targeting advancements in printing, inks, and materials to maintain competitive advantages and enhance market capabilities[88]. Market Position and Strategy - The company aims to become a leading professional packaging printing enterprise in China, focusing on tobacco packaging materials, with ongoing efforts to expand its cigarette label business[34]. - The company is actively exploring new technologies and processes related to new tobacco products, having signed a joint venture agreement with Kunming Xuguang Technology Co., Ltd. in November 2018[34]. - The company has established stable partnerships with multiple tobacco companies, including Yunnan Tobacco and Anhui Tobacco, ensuring a solid foundation for future sustainable development[33]. - The company is committed to high-quality development and structural reforms to meet the growing needs of consumers[40]. Financial Management - The company has entrusted a total of ¥460,000,000.00 in non-principal guaranteed financial management, with an expected annualized return of 3.15%[144]. - The company has multiple financial management agreements with various banks, including China Minsheng Bank and China Construction Bank, with varying annualized returns from 2.70% to 3.80%[146]. - The company has no overdue amounts in its financial management agreements, indicating effective cash management[144]. - The company plans to continue its financial management strategy in the future, ensuring liquidity and potential returns[144]. Employee and Management Structure - The company employed a total of 951 staff, with 465 in the parent company and 486 in major subsidiaries[191]. - The employee composition included 452 production personnel, 28 sales personnel, 238 technical personnel, 17 financial personnel, and 216 administrative personnel[191]. - The company has established a tiered training system to enhance employee skills and safety awareness[195]. - The salary structure includes basic salary, performance salary, allowances, overtime pay, and welfare subsidies[194]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 13,406, an increase from 11,450 at the end of the previous month[167]. - Xu Shanshui is the largest shareholder, holding 153,789,500 shares, which represents 40.45% of the total shares[169]. - The company does not have any controlling shareholders or actual controllers, as the largest shareholder is an individual[175]. - The top ten shareholders collectively hold a significant portion of the company's shares, with the largest shareholder alone holding over 40%[169].