广信股份(603599) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was CNY 3,402,428,649.14, representing a 9.39% increase compared to CNY 3,110,364,091.99 in 2019[26] - The revenue after deducting non-core business income was CNY 3,387,116,492.52, which is a 9.57% increase from CNY 3,091,280,750.86 in the previous year[26] - The net profit attributable to shareholders was CNY 588,733,508.52, an increase of 16.43% compared to CNY 505,652,658.28 in the previous year[29] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 484,008,196.77, up 26.68% from CNY 382,070,303.52 in 2019[29] - The basic earnings per share increased to CNY 1.27, reflecting a growth of 16.51% from CNY 1.09 in 2019[30] - The total assets at the end of 2020 were CNY 7,366,221,966.30, representing an increase of 11.63% from CNY 6,598,688,562.55 at the end of 2019[29] - The company achieved a consolidated revenue of 3.402 billion RMB, representing a year-on-year growth of 9.39%[53] - The net profit attributable to the parent company was 589 million RMB, reflecting a year-on-year increase of 16.43%[53] Cash Flow and Investments - The net cash flow from operating activities was CNY 691,671,491.33, a slight decrease of 0.49% compared to CNY 695,053,444.24 in the previous year[29] - The company’s investment activities generated a net cash inflow of 426.53 million RMB, a significant improvement from the previous year[59] - The cash flow from operating activities was 691.67 million RMB, a slight decrease of 0.49% year-on-year[59] - The company reported a significant increase in cash flow from investing activities, totaling ¥426,529,341.34 in 2020, compared to a negative cash flow of ¥1,141,436,959.74 in 2019[72] - The company's cash and cash equivalents at the end of 2020 reached ¥1,731,350,301.25, a 153.79% increase from ¥682,190,548.04 in the previous year[76] Research and Development - The company is committed to enhancing its research and development capabilities to innovate new products and technologies in the agricultural chemicals market[26] - The company applied for 71 new patents and received 29 patent authorizations during the reporting period[54] - Research and development expenses increased by 11.19% to 180.65 million RMB compared to the previous year[69] - The company's total R&D investment for 2020 amounted to ¥180,648,073.09, representing 5.31% of total revenue[71] - The company has a technology center established in 2003, focusing on research and development, and has undertaken multiple national technology projects[96][97] Product and Market Strategy - The company has developed a leading technological innovation system in the pesticide industry, with multiple core technologies including phosgene synthesis and impurity control[43] - The company aims to balance pesticide market demand through a diverse range of products to mitigate the impact of climate variability[39] - Future product development will focus on high-efficiency, low-toxicity pesticide varieties and fine chemical intermediates, including new pesticides and important intermediates for pharmaceuticals and new materials[126] - The company plans to adjust its product structure to improve its core competitiveness in both domestic and international markets[124] - The company’s main products include multi-fungicides, methyl thiophanate, and dicamba, with production processes that meet international quality standards[100][101][102] Corporate Governance and Compliance - The board of directors confirmed that all members attended the board meeting, ensuring governance and oversight[5] - The audit report issued by Rongcheng Accounting Firm was a standard unqualified opinion, ensuring the accuracy of the financial report[6] - The company reported no significant risks that could materially affect its operations during the reporting period[8] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[8] - The company has committed to ensuring that its actual controllers comply with relevant laws and regulations regarding related party transactions[162] Shareholder Relations and Dividends - The profit distribution plan for 2020 proposes a cash dividend of CNY 4.30 per 10 shares, totaling CNY 199,812,028.05 based on a total share capital of 464,679,135 shares as of December 31, 2020[7] - The company has committed to maintaining communication with minority shareholders regarding cash dividend proposals and ensuring their opinions are considered[149] - The cash dividend for 2020 was RMB 4.3 per 10 shares, while no dividends were declared in 2019[151] - The company has a cash dividend policy that prioritizes cash distributions, aiming for a minimum of 30% of the average distributable profit over three consecutive years to be distributed in cash[145] Risk Management and Challenges - The overall economic environment is expected to present significant challenges in 2021, with increased pressure on the company[120] - Approximately one-third of the company's revenue comes from exports, making it sensitive to fluctuations in the RMB/USD exchange rate, which could impact overall profitability[134] - The company has not proposed a cash profit distribution plan for the previous fiscal year despite having positive distributable profits, and it must disclose the reasons and intended use of retained earnings[155] Sustainability and Social Responsibility - The company is focused on sustainable development and social responsibility, emphasizing employee well-being and environmental stewardship[200] - The company has a clear mission to innovate in agricultural technology and serve the green industry, aligning with its operational guidelines[200] - The company has a strong focus on safety and environmental protection, achieving compliance with high standards and receiving no major penalties during the reporting period[53]