Swancor Advanced Materials (SH:688585)2021-04-18 16:00Financial Performance - In 2020, the company achieved operating revenue of CNY 1,945.96 million, representing a year-on-year growth of 44.28%[12]. - The net profit attributable to shareholders of the listed company for 2020 was CNY 118.95 million, an increase of 51.98% compared to the previous year[12]. - The company reported a gross margin of 35% for the fiscal year 2020, reflecting improved operational efficiency and cost management strategies[22]. - The total assets at the end of 2020 reached CNY 1,987,942,246.81, a 47.70% increase from the end of 2019[30]. - Basic earnings per share increased by 45.45% to CNY 0.32 in 2020 compared to CNY 0.22 in 2019[31]. - The company’s net profit attributable to shareholders for 2020 was CNY 118,950,935.96[158]. - The total share capital as of December 31, 2020, was 403,200,000 shares[158]. - The company achieved a revenue of 1,945.96 million RMB in 2020, representing a growth of 44.28% compared to the previous year[79]. - The company’s net assets attributable to shareholders increased by 23.58% year-on-year, totaling 1,064.54 million RMB[79]. Dividend Policy - The company plans to distribute a cash dividend of CNY 0.80 per 10 shares, totaling CNY 32.26 million, which accounts for 27.12% of the net profit attributable to shareholders for 2020[7]. - The proposed cash dividend for 2020 is CNY 0.8 per 10 shares, totaling CNY 32,256,000, which accounts for 27.12% of the distributable profit[158][160]. - The cash dividend policy emphasizes sustainable development while prioritizing cash dividends when conditions allow[158]. - The company will ensure that any changes in applicable laws and regulations will be automatically adhered to, maintaining compliance with regulatory requirements[177]. - The company will implement a stable dividend distribution policy, ensuring that cash dividends distributed each year will not be less than 10% of the distributable profits achieved that year[180]. Research and Development - The company is committed to increasing its research and development efforts in response to the growing importance of new materials in national strategies for carbon neutrality[14]. - Research and development expenses accounted for 1.55% of operating revenue in 2020, down from 1.89% in 2019[31]. - The company achieved a total R&D investment of ¥30,144,961.10 in 2020, representing an 18.50% increase from ¥25,439,334.81 in the previous year[57]. - The company completed 6 R&D projects in 2020, focusing on improving existing products and developing green, environmentally friendly materials[56]. - The company has obtained a total of 76 authorized patents by the end of 2020, with 11 new patents granted during the year[56]. Market Expansion and Strategy - The company aims to achieve a global market share of at least 25% in the wind turbine blade materials sector and over 25% market share in the high-performance corrosion-resistant materials sector in Asia[13]. - Swancor has set a future outlook with a revenue target of 1.5 billion RMB for 2021, indicating an ambitious growth plan of 25% year-over-year[22]. - The company is actively investing in R&D for new products, particularly in the development of advanced epoxy resins and composite materials aimed at the wind energy sector[22]. - The company is pursuing market expansion strategies, including entering new geographical markets in Southeast Asia, which is expected to contribute an additional 10% to overall revenue[22]. - The company is focused on developing sustainable materials that can be recycled or reused, particularly in the wind turbine blade sector[152]. Operational Efficiency - The company has undergone internal organizational adjustments to improve operational efficiency and resource utilization[13]. - The company is committed to improving operational efficiency and reducing costs through innovative material development and process optimization[66]. - The company has established a stable and efficient procurement management model, ensuring raw material quality and stable supply through annual supplier assessments and market trend predictions[41]. - The company has implemented measures to monitor raw material price trends and strengthen supplier relationships to mitigate risks associated with price fluctuations[134]. - The company plans to enhance its production capacity by improving internal controls and reducing procurement costs, while also accelerating the automation of production lines to lower labor costs[153]. Product Development - The company has developed a comprehensive product line in high-performance industrial anti-corrosion and lightweight composite materials, including safety flame-retardant resins and non-styrene resins[73]. - The company has launched low-styrene and no-styrene vinyl ester resin products to meet the growing demand for low or zero VOC emissions[50]. - The company is focusing on the development of new materials and processes to meet the growing demands of the wind power industry[63]. - The company has developed a thixotropic light-curing resin for special construction environments, enhancing efficiency and safety[50]. - The company is actively applying pultrusion resin in fiberglass pultruded blade materials to enhance lifespan and reduce costs in the wind energy sector[130]. Challenges and Future Outlook - The company remains optimistic about future growth opportunities despite challenges posed by the COVID-19 pandemic[14]. - The company is set to face new challenges and opportunities due to stringent environmental policies, necessitating a well-defined development plan for the next five years[149]. - The company is addressing challenges in the 5G industry by developing high-performance resins with improved thermal degradation temperatures and compatibility with fillers[55]. - The company will strengthen customer relationships and expand market presence by participating in international exhibitions and following the "Belt and Road" initiative to meet diverse customer needs[154]. - The company is committed to continuous innovation in production processes and product applications to ensure environmentally friendly manufacturing practices[150].