Jalon(SH:688357)2021-04-08 16:00Financial Performance - The company's operating revenue for 2020 was CNY 451,549,981.64, representing an increase of 11.23% compared to 2019[24]. - Net profit attributable to shareholders increased by 48.10% to CNY 127,370,724.24, while the net profit after deducting non-recurring gains and losses rose by 59.71% to CNY 109,229,410.44[24][26]. - The gross profit margin improved to 44.39%, up by 5.50 percentage points from the previous year[26]. - The net cash flow from operating activities surged by 206.08% to CNY 127,341,756.34, driven by increased sales and optimized sales structure[27]. - Basic earnings per share increased by 13.99% to CNY 2.20, reflecting the growth in net profit[27]. - The company achieved a total revenue of 451.55 million yuan in 2020, representing a year-on-year growth of 11.23%[98]. - The operating profit for the same period was 147.13 million yuan, showing a significant increase of 73.39% year-on-year[98]. - The company reported a total revenue of 18,910,000.00 RMB for the year, with a slight increase from 16,970,962.18 RMB in the previous year, representing a growth of approximately 5.5%[82]. Dividend Policy - The company plans to distribute a cash dividend of RMB 7 per 10 shares, totaling RMB 40,474,000, which accounts for 31.78% of the net profit attributable to shareholders for 2020[7]. - The cash dividend distribution policy prioritizes cash dividends, with a minimum of 80% for mature companies without significant capital expenditures[181]. - The company’s 2020 cash dividend proposal has been approved by the board and is pending shareholder approval[182]. - The company’s cash dividend policy is designed to protect the rights of minority investors[182]. - The company has established a profit distribution system to enhance transparency and operational feasibility[181]. Research and Development - Research and development expenses accounted for 4.24% of operating revenue, an increase of 0.66 percentage points from 2019[25]. - The total R&D investment for the year was approximately ¥19.14 million, an increase of 31.68% compared to the previous year[75]. - The total R&D expenditure accounted for 4.24% of the company's operating revenue, up from 3.58% in the previous year, indicating a growth of 18.44%[76]. - The company obtained 26 new intellectual property rights during the reporting period, including 8 invention patents and 17 utility model patents[73]. - The company has established several research and innovation platforms, including the "Henan Province Adsorption Molecular Sieve Engineering Technology Research Center" to drive product development[151]. Market and Industry Trends - The global zeolite market is expected to grow at a compound annual growth rate (CAGR) of 5.65% from 2020 to 2025, reaching a market size of $4.39 billion by 2025[46]. - The domestic zeolite industry is experiencing increased demand due to stricter environmental regulations and the push for carbon neutrality, with significant opportunities in VOCs treatment and nitrogen oxides pollution prevention[47][49]. - The market size for VOCs治理 in China was approximately 74.1 billion yuan in 2020, projected to exceed 130 billion yuan by 2025, reflecting a CAGR of 13%[50]. - The hydrogen energy sector is anticipated to create a market value of $2.5 trillion by 2050, with hydrogen production accounting for over 90% of hydrogen consumption in industrial applications[58]. Operational Risks and Compliance - The company has detailed various operational risks and corresponding mitigation measures in the report[5]. - The report includes a standard unqualified audit opinion from Lixin Certified Public Accountants[6]. - The company has no non-operating fund occupation by controlling shareholders or related parties[9]. - There are no violations of decision-making procedures for external guarantees[10]. - The company’s future plans and development strategies are subject to investment risks and do not constitute a commitment to investors[8]. Production and Capacity - The company has established a wholly-owned subsidiary in Thailand, expanding its international presence[13]. - The company's total production capacity is 93,000 tons/year, with a global market share of 4.43% in production capacity and 4.24% in output for molded molecular sieves and activated molecular sieve powders, ranking sixth globally[53]. - The company has a total capacity of 31,000 tons for molecular sieve raw powder, 20,000 tons for molded molecular sieves, and 3,000 tons for activated molecular sieves, with ongoing projects to expand production capacity[53]. - The company completed the construction of a 4,500-ton oxygen-rich molecular sieve production line in the second quarter, and a 9,000-ton efficient hydrogen and oxygen molecular sieve production line is in trial production[102]. Customer and Supplier Relations - The company has established a stable customer base, including major domestic enterprises like Sinopec and international giants like Praxair[91]. - The top five customers contributed 10,704.50 million RMB, accounting for 21.40% of the total annual sales[135]. - The top five suppliers accounted for 30.35% of the total annual purchases, with a total procurement amount of 9,952.78 million RMB[139]. Environmental and Sustainability Initiatives - The company emphasizes continuous innovation and has established a robust R&D capability to maintain competitiveness against international peers[35]. - The company’s strategic focus includes enhancing energy efficiency and environmental remediation, aligning with national policies on sustainable development[36]. - The company has implemented advanced environmental protection facilities, including a 4,000 t/d wastewater treatment plant and a 450 t/d MVR desalination facility[94]. Financial Position and Assets - The company’s cash and cash equivalents at the end of the period were 142,665,624.88 RMB, representing 12.07% of total assets[144]. - The total assets increased by 13.02% compared to the previous year, with fixed assets amounting to 351,455,661.48 RMB[144]. - The company reported a significant increase in deferred income tax assets, rising to CNY 2,549,053.73, up 49.64% from CNY 1,703,482.19[146]. Shareholder Commitments and Regulations - The company reported a commitment to not transfer or manage shares held prior to the IPO for 36 months from the date of listing[188]. - Shareholders are restricted from transferring more than 25% of their shares annually while serving as directors or senior management[189]. - The company has established a policy to ensure compliance with relevant laws and regulations regarding share transfers by directors and senior management[192].