Delinhai(SH:688069)2021-04-27 16:00Financial Performance - The company's operating revenue for 2020 was CNY 491.39 million, an increase of 65.52% compared to the previous year[21]. - The net profit attributable to shareholders for 2020 was CNY 192.78 million, representing a growth of 91.96% year-over-year[23]. - The total assets at the end of 2020 amounted to CNY 1.64 billion, an increase of 267.08% from the previous year[23]. - The basic earnings per share for 2020 was CNY 3.80, up 68.89% from CNY 2.25 in 2019[22]. - The company's net assets attributable to shareholders increased by 349.88% to CNY 1.41 billion by the end of 2020, largely due to the successful IPO[23]. - The main business revenue was CNY 488.95 million, accounting for 99.50% of total revenue, with significant contributions from blue-green algae governance technology integration at CNY 310.76 million[101]. - The company reported a total revenue of 49,964,600 RMB, with a net profit of 23,978,888.69 RMB and an operating profit of 26,602,722.68 RMB[83]. - The company achieved a total revenue of 491.39 million yuan, representing a year-on-year growth of 65.52%[120]. - The net profit attributable to shareholders reached 192.78 million yuan, with a year-on-year increase of 91.96%[120]. - The total assets of the company amounted to 1.64 billion yuan, reflecting a growth of 267.08% compared to the beginning of the year[120]. Cash Flow and Dividends - The company plans to distribute a cash dividend of 6.00 CNY per 10 shares, totaling approximately 35.68 million CNY (including tax) based on a total share capital of 59,470,000 shares as of December 31, 2020[5]. - The total cash dividend for 2020, including the mid-year distribution, amounts to RMB 59,470,000.00, reflecting a significant increase from RMB 20,070,000.00 in 2019[172]. - The cash dividend payout ratio for 2019 was 19.98%, while for 2018 it was 12.46%, indicating a trend of increasing shareholder returns[172]. - The company has a cash dividend policy that mandates a minimum of 10% of the distributable profit to be distributed as cash dividends annually, contingent on meeting specific conditions[166]. - In mature stages without significant capital expenditure, the company aims for cash dividends to constitute at least 80% of the profit distribution[166]. - The company plans to strengthen cash flow management in 2021 by enhancing accounts receivable collection and controlling cash outflows[107][108]. Research and Development - Research and development expenses accounted for 4.88% of operating revenue, an increase of 0.38 percentage points compared to the previous year[22]. - The total R&D investment for the year reached approximately ¥23.98 million, representing a 79.34% increase compared to the previous year, with R&D expenses accounting for 4.88% of total revenue[70][71]. - The company has been awarded a total of 58 patents, including 7 invention patents and 50 utility model patents, reflecting its strong focus on innovation and technology development[68][69]. - The number of R&D personnel increased to 47, representing 12.11% of the total workforce, with total R&D compensation amounting to 920.97 million RMB[86]. - The company developed a new mobile algae separation vehicle, which is efficient, compact, and suitable for multiple water bloom outbreak areas[82]. - The company is focusing on the development of a grid-based water quality monitoring system to effectively utilize water quality data and improve monitoring accuracy[82]. Operational Risks and Compliance - The company has outlined various operational risks and corresponding mitigation strategies in the report, emphasizing the importance of risk management[4]. - The company has confirmed that there are no violations of decision-making procedures regarding external guarantees[7]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties, ensuring financial integrity[7]. - The company has not faced any issues with a majority of directors being unable to guarantee the authenticity of the annual report[8]. - The company acknowledges the risk of seasonal fluctuations in performance, with revenue primarily recognized in the second half of the year due to project timelines[113][114]. - The company has not experienced significant bad debt losses, but faces potential risks related to the collection of accounts receivable due to the nature of its government and state-owned enterprise clients[117]. Market Position and Strategy - The company is positioned as a leader in the blue-green algae management industry, focusing on all segments of the eutrophic lake internal source governance sector, including investigation, diagnosis, algae management, sediment remediation, water quality improvement, ecological restoration, and biomass resource utilization[154]. - The company has established a comprehensive blue-green algae governance service system, integrating technology research and development, system design, equipment integration, and operational maintenance services[97]. - The company is actively expanding its technology and service offerings to include comprehensive lake governance solutions, moving beyond emergency response to address eutrophication issues[98]. - The company has developed key technologies such as deep well algae control and flexible dredging, which are being promoted for broader application in the market[157]. - The company plans to establish offices in Wuhan, Guangzhou, and Xiong'an New Area to strengthen local market development efforts[160]. Technology and Innovation - The company has achieved significant breakthroughs in key technologies such as integrated secondary enhanced flotation technology and efficient adjustable vortex well algae collection technology, which are now at an international leading level[66]. - The company has developed various technical equipment for blue-green algae management, including shore-based separation systems and mobile treatment devices, enhancing operational flexibility[35]. - The company has developed a comprehensive and effective mainstream technology route for blue algae governance, combining emergency response and preventive control measures[63][67]. - The company has integrated algae-water separation systems in over 20 algae-water separation stations nationwide, providing after-sales service and operational management[62]. - The company is exploring new materials for gas bags to enhance the durability and performance of its gas separation devices[82]. Shareholder Commitments and Governance - The company’s actual controller and major shareholders have committed to not transferring or managing their shares for a specified period following the stock issuance[176]. - The company emphasizes compliance with laws and regulations regarding shareholding and transfer, ensuring transparency in reporting shareholdings[182]. - Shareholders agree that any violation of commitments will result in the proceeds from share reductions being returned to the company[184]. - The company commits to not transferring or entrusting the management of shares held prior to the public offering for twelve months post-listing[179]. - Major shareholders commit to not transferring shares for two years after the lock-up period, with a maximum of 80% of their shares allowed for reduction each year thereafter[183].