SITONG(SH:603838)2021-04-13 16:00Financial Performance - In 2020, the company achieved a net profit of RMB 17,334,185.14, with a distributable profit of RMB 246,004,754.58 at year-end after accounting for a cash dividend of RMB 6,400,320.00[5]. - The company's operating revenue for 2020 was RMB 292,627,320.44, representing a decrease of 27.75% compared to RMB 405,034,953.68 in 2019[21]. - The net profit attributable to shareholders was -RMB 4,873,927.30, a decline of 111.19% from RMB 43,573,160.85 in the previous year[21]. - The basic earnings per share for 2020 was -0.0166, a decrease of 110.16% from 0.1634 in 2019[22]. - The company's total revenue for 2020 was CNY 292.63 million, a decrease of 27.75% compared to the previous year, with export product revenue dropping by 37.35% to CNY 240.26 million[23]. - The net profit attributable to shareholders was a loss of CNY 4.87 million, a decline of 111.19% year-on-year, primarily due to a decrease in revenue and gross margin[27]. - The gross margin for the year was 22.14%, down by 8.25 percentage points from the previous year, leading to a reduction in gross profit of CNY 34.16 million[24]. - The company's total revenue for the year was 39,492,870.16, a decrease of 26.84% compared to the previous year[65]. Assets and Liabilities - The total assets of the company increased by 55.62% to RMB 1,414,170,735.22 at the end of 2020, compared to RMB 908,753,335.58 at the end of 2019[21]. - The company's net assets attributable to shareholders rose by 41.33% to RMB 1,058,498,746.94 at the end of 2020, up from RMB 748,973,046.72 in 2019[21]. - The company's total assets increased by 55.62% to CNY 505.42 million, driven by increases in cash and land use rights[29]. - The company's total equity attributable to shareholders increased by 41.33% to ¥1.06 billion, mainly due to the income from non-public stock issuance[78]. Cash Flow - Cash flow from operating activities increased by 17.50% to RMB 56,959,425.28 in 2020, compared to RMB 48,474,562.20 in 2019[21]. - The net cash flow from operating activities increased by 17.50% to CNY 8.48 million, despite a decrease in sales revenue[28]. - The net cash flow from operating activities increased by 17.50% to 5,695.94, despite a decrease in sales revenue of 72,423.2[73]. Research and Development - Research and development expenses decreased by CNY 17.94 million due to reduced material input for new product development[25]. - The company invested CNY 9.90 million in R&D, a decrease of 64.42% year-on-year, reflecting a significant reduction in innovation spending[50]. - The company has 145 R&D personnel, representing 11.05% of the total workforce[71]. Market and Sales Performance - Domestic main business revenue reached CNY 50.49 million, an increase of 148.37% year-on-year, while overseas revenue was CNY 240.26 million, down 37.35%[49]. - Daily-use ceramics sales amounted to CNY 14.23 million, a decline of 41.70% year-on-year, while new product categories like rock slabs generated CNY 20.28 million in revenue[54][56]. - The company plans to diversify its product offerings and expand its domestic market presence in response to international market challenges[55]. - The company is facing challenges due to market weakness across various regions, impacting overall sales performance[60]. Risk Management - The company has outlined potential risks in its future development strategies, which are detailed in the report[6]. - The company acknowledges risks from trade friction and exchange rate fluctuations that could impact its export markets[96]. - The company is facing market risks due to a slowdown in the ceramic industry, which may affect production and profitability if consumer demand continues to decline[95]. Corporate Governance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has established a long-term commitment to ensure that its subsidiaries and affiliates do not engage in competitive businesses[104]. - The company has pledged to compensate for any economic losses incurred by shareholders due to violations of commitments related to competition[104]. Social Responsibility - The company donated 80,000 RMB for educational assistance and 26,600 RMB in sanitary ware products to support rural sanitation projects in 2020[157]. - The total funding for targeted poverty alleviation was 80,000 RMB, with 40 students receiving financial support[158]. - The company is committed to fulfilling its social responsibilities, including targeted poverty alleviation initiatives[159]. Financial Products and Investments - The company has a focus on high liquidity assets, including bonds and deposits, as part of its investment strategy[125]. - The company is actively managing various asset types, including trust plans and delegated debt management, to comply with regulatory requirements[125]. - The company has successfully launched multiple financial products in 2020, reflecting its strong market presence[130]. Shareholder Information - The company issued 53,336,000 new shares in a private placement, increasing the total number of shares to 320,016,000[164]. - The total number of ordinary shareholders was 13,248, down from 13,701 at the end of the previous month[171]. - The top ten shareholders include Huang Jianping with 23,687,000 shares (7.40%) and Cai Zhenceng with 19,302,660 shares (6.03%), with several shares pledged[173].