ZYNM(SH:603527)2021-04-27 16:00Financial Performance - The company's operating revenue for 2020 was CNY 3,835,993,202.13, representing a 19% increase compared to CNY 3,223,651,511.00 in 2019[23]. - The net profit attributable to shareholders for 2020 was CNY 62,690,898.12, a decrease of 32.43% from CNY 92,774,943.28 in 2019[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 58,503,179.12, down 32.61% from CNY 86,817,822.28 in 2019[23]. - Basic earnings per share decreased by 31.58% to CNY 0.26 in 2020 compared to CNY 0.38 in 2019[24]. - The weighted average return on equity dropped to 6.71% in 2020, down 3.67 percentage points from 10.38% in 2019[24]. - The net profit for 2020 was CNY 6,236,630, which marked a decline of 32.78% compared to the previous year[46]. - Total revenue for the reporting period was 3,835.99 million RMB, a 19.00% increase from the previous year, while net profit decreased by 32.78% to 62.37 million RMB[44]. - The gross profit margin for copper strip decreased by 1.83 percentage points to 18.49% compared to the previous year[51]. - The total profit for 2020 was CNY 73,821,324.18, down from CNY 111,213,884.88 in 2019[195]. Cash Flow and Assets - The net cash flow from operating activities for 2020 was negative CNY 218,702,640.37, a significant decline from positive CNY 22,580,705.78 in 2019[23]. - The total assets at the end of 2020 were CNY 1,412,442,283.29, an increase of 16.61% from CNY 1,211,250,155.40 at the end of 2019[23]. - The net assets attributable to shareholders at the end of 2020 were CNY 948,371,135.89, a 2.5% increase from CNY 925,229,118.73 at the end of 2019[23]. - The company's cash and cash equivalents decreased to CNY 113,003,741.57 in 2020 from CNY 288,357,941.26 in 2019, a decline of about 60.8%[186]. - Short-term borrowings rose to CNY 355,384,569.44 in 2020, up from CNY 170,233,706.95 in 2019, marking an increase of approximately 108.5%[187]. - The total liabilities of Zhongyuan New Materials increased, with current liabilities including accounts payable at CNY 56,703,474.52 in 2020, down from CNY 80,499,375.93 in 2019, indicating a decrease of about 29.5%[187]. Research and Development - Research and development expenses rose by 8.47% to CNY 37,102,914.24 in 2020[48]. - The total R&D investment accounted for 0.97% of operating revenue, with 83 R&D personnel representing 11.86% of the total workforce[61]. - The company has focused on continuous product innovation and R&D, launching new products such as ZY50 ultrasonic welding T2 copper strip and YJ-Y4A heat exchanger fin copper strip during the reporting period[44]. Market and Industry Trends - The copper processing industry showed steady growth in production despite challenges from the COVID-19 pandemic[34]. - The copper foil remains an investment hotspot, with electronic circuit copper foil capacity at 348,000 tons and lithium battery copper foil capacity at 215,600 tons, totaling 563,600 tons, representing a year-on-year growth rate of 5.6%[35]. - The demand for high-conductivity and high-thermal conductivity purple copper strip and foil materials is increasing due to rapid economic development and growing environmental protection requirements[80]. - The copper processing industry in China has become a major global player, with production capacity continuously improving and application fields expanding towards high precision, high performance, and environmentally friendly products[81]. Corporate Governance and Compliance - The company has not faced any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not violated decision-making procedures for providing guarantees[7]. - The company has established a plan to address any potential non-compliance with the commitments made by its controlling shareholders, including compensation for any losses incurred[96]. - The company has implemented measures to stabilize stock prices if the stock price falls below the net asset value per share for 20 consecutive trading days within 36 months post-IPO[97]. - The company has committed to adjusting its financial statements in accordance with the new revenue standards effective from January 1, 2020, impacting various balance sheet items[105]. Social Responsibility and Environmental Impact - The company actively fulfills its social responsibilities, emphasizing its commitment to economic returns while addressing social issues[125]. - The company has implemented environmental protection measures, with all wastewater treated and reused in production, and emissions meeting regulatory standards[126]. - In 2020, Yongjie Copper reported no instances of exceeding emission standards for pollutants[129]. - The company donated 50,000 RMB for targeted poverty alleviation to the Wuhu Charity Federation during the reporting period[120]. Shareholder Information - The total number of ordinary shareholders increased from 13,236 to 14,263, representing an increase of approximately 7.8%[143]. - The top shareholder, Feng Quanhua, holds 83,737,276 shares, accounting for 34.34% of total shares[145]. - The company has no preferred shareholders with restored voting rights as of the report date[143]. - The total remuneration for all directors, supervisors, and senior management was 4.7992 million yuan[160].