Greenda(SH:603931)2021-04-21 16:00Financial Performance - The company's operating revenue for 2020 was RMB 583,534,845.70, representing an increase of 11.25% compared to RMB 524,548,249.32 in 2019[23]. - The net profit attributable to shareholders for 2020 was RMB 100,844,374.54, a decrease of 1.59% from RMB 102,477,130.17 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 92,776,272.02, down 2.04% from RMB 94,704,007.17 in 2019[23]. - The net cash flow from operating activities was RMB 126,565,753.21, a decrease of 11.56% compared to RMB 143,112,171.62 in 2019[23]. - The total assets at the end of 2020 were RMB 1,248,130,189.60, an increase of 82.28% from RMB 684,720,079.86 at the end of 2019[24]. - The net assets attributable to shareholders at the end of 2020 were RMB 1,104,787,541.86, reflecting a growth of 111.25% from RMB 522,978,028.92 at the end of 2019[24]. - Basic earnings per share decreased by 11.19% to CNY 1.19 compared to CNY 1.34 in 2019[25]. - The weighted average return on equity decreased to 13.92%, down 7.49 percentage points from 21.41% in 2019[25]. - The gross profit margin decreased to 28.96%, down 11.64% from the previous year, primarily due to the reclassification of transportation costs[73]. - Operating costs rose to CNY 414.53 million, reflecting a 33.04% increase year-on-year[73]. Dividend Policy - The company plans to distribute a cash dividend of 3 RMB per 10 shares, totaling 30,544,650 RMB (including tax) for the year 2020, resulting in a cash dividend ratio of 30.29%[182]. - The company’s cash dividend policy stipulates that at least 10% of the distributable profit must be distributed in cash each year[175]. - In 2020, the company’s total distributable profit was 100,844,374.54 RMB, with cash dividends accounting for 30.29% of the net profit attributable to ordinary shareholders[184]. - The company’s cash dividend distribution is contingent upon achieving positive distributable profits and receiving an unqualified audit opinion on its financial reports[173]. - The company’s cash dividend distribution plan for 2020 is subject to approval at the shareholders' meeting[183]. Share Capital and Structure - The company intends to increase its share capital by 4 shares for every 10 shares held, resulting in an additional 40,726,200 shares, bringing the total share capital to 142,541,700 shares[5]. - The capital reserve increased by 203.14% to 713,093,752.27, mainly due to the IPO premium[95]. - The retained earnings increased by 40.82% to 224,336,591.17, reflecting an increase in profits during the period[96]. Risk Management - The company has outlined potential risks in its future development plans, which investors should be aware of[8]. - The report emphasizes the importance of investor awareness regarding the uncertainties in forward-looking statements[6]. - The company faces safety production risks due to the hazardous nature of some of its wet electronic chemical products, which could lead to accidents affecting operations[157]. - Environmental risks are present due to the production process generating pollutants, necessitating ongoing investment in compliance with environmental regulations[158]. - The company is exposed to market risks from macroeconomic fluctuations and significant changes in downstream industries, which could impact its performance[163]. Research and Development - The company maintained a strong R&D capability, holding 5 invention patents and 15 utility model patents during the reporting period[60]. - The company has established a comprehensive R&D mechanism, emphasizing sustainable development and continuous innovation, with significant investments in R&D to enhance its technological capabilities[116]. - The company is actively involved in research and development of new materials and technologies to meet the stringent requirements of the electronic manufacturing industry[98]. - The company has formed partnerships with several universities to enhance its R&D capabilities and improve automation levels in the industry[119]. Market Position and Strategy - The company is focused on the development of wet electronic chemicals used in microelectronics and optoelectronics, which are critical for semiconductor and solar cell applications[22]. - The company plans to expand its market presence and enhance its product offerings in the electronic chemical materials sector[22]. - The company is positioned as a key supplier in the display panel industry, with major clients including BOE Technology Group and LG Group[65]. - The company is actively pursuing market expansion and product development to enhance its competitive position against foreign enterprises in high-end applications[141]. Compliance and Governance - The board of directors and senior management have confirmed the authenticity and completeness of the annual report, taking legal responsibility for any misstatements[7]. - The company has not reported any violations in decision-making procedures regarding external guarantees[7]. - The company’s governance structure includes commitments from both controlling shareholders and management to uphold these agreements[191].