Tongyuan Environment(SH:688679)2021-04-12 16:00Financial Performance - The company's operating revenue for 2020 was CNY 853,496,821.48, representing a 10.30% increase compared to CNY 773,816,127.41 in 2019[22]. - The net profit attributable to shareholders for 2020 was CNY 90,421,649.55, which is a 4.46% increase from CNY 86,560,965.74 in 2019[22]. - The total assets of the company increased by 40.08% to CNY 1,842,831,101.13 at the end of 2020, compared to CNY 1,315,596,935.77 at the end of 2019[22]. - The net assets attributable to shareholders grew by 66.84% to CNY 1,062,583,550.79 at the end of 2020, up from CNY 636,869,247.35 at the end of 2019[22]. - The basic earnings per share for 2020 was CNY 0.92, a slight decrease of 1.08% from CNY 0.93 in 2019[23]. - The company's cash flow from operating activities for 2020 was CNY 102,982,306.62, down 26.43% from CNY 139,971,608.37 in 2019[22]. - The company reported a net profit of CNY 35,907,930.47 in Q4 2020, with total revenue for the quarter reaching CNY 335,213,640.30[27]. - The company plans to distribute a cash dividend of 2.10 CNY per 10 shares, totaling approximately 27.65 million CNY, which represents 30.58% of the net profit attributable to shareholders for 2020[5]. Research and Development - Research and development expenses accounted for 3.76% of operating revenue in 2020, a decrease of 0.23 percentage points from 3.99% in 2019[23]. - The company achieved a total R&D investment of ¥32.12 million, representing a 4.06% increase from the previous year[52]. - The company applied for 46 intellectual property rights during the reporting period, with 39 granted, including 5 invention patents and 40 utility model patents[49]. - The company holds a total of 122 authorized patents, including 18 invention patents, as of the end of the reporting period[47]. - The company’s "high-efficiency sludge dewatering carbonization treatment technology" was recognized as "domestically leading" by the China Environmental Protection Industry Association[49]. - The company completed the research and development of key technologies for urban sludge preparation and treatment, achieving a total investment of RMB 600 million, with a completion cost of RMB 718.06 million, reaching a leading domestic level[55]. Market and Business Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[24]. - The company aims to transition from providing single services to becoming a comprehensive environmental solution provider, integrating design, equipment, project construction, and operation maintenance[46]. - The company is committed to high-quality development, focusing on solid waste resource utilization and circular economy practices[46]. - The company plans to increase R&D investment and technological innovation, purchasing advanced R&D equipment and attracting high-end technical talent[106]. - The company expanded its market presence, with orders from outside Anhui province accounting for 52.89% of total orders, indicating a successful collaboration between provincial and non-provincial markets[65]. Corporate Governance and Compliance - The report includes a standard unqualified audit opinion from Rongcheng Accounting Firm[4]. - The board of directors and supervisory board members have all attended the board meeting, ensuring accountability for the report's accuracy[4]. - The company does not have any special arrangements for corporate governance[8]. - The company confirmed that there are no violations of decision-making procedures regarding external guarantees[7]. - The company guarantees that there are no fraudulent issuance circumstances in the public offering of stocks and listing on the Sci-Tech Innovation Board[124]. Environmental Responsibility - The company focuses on solid waste pollution containment and remediation, solid waste treatment and disposal, and water environment restoration, providing comprehensive environmental solutions to government departments and large enterprises[32]. - The company has established pollution prevention facilities that are operating normally and meeting relevant standards, resulting in minimal environmental impact[153]. - The company has developed emergency response plans for environmental incidents in compliance with legal requirements and submitted them for local ecological environment management department approval[155]. - The company has implemented self-monitoring schemes for environmental compliance, with all monitored results meeting standards[156]. Financial Management - The operating cost for the period was CNY 614,866,896.00, which is a 10.66% increase from CNY 555,613,136.96 in the previous year[79]. - The company's financing activities generated a net cash inflow of CNY 320,398,837.02, a significant increase of 132.76% compared to CNY 137,650,191.45 in the previous year[79]. - The total amount of raised funds is CNY 33,264.89 million, with no funds utilized in the current year[142]. - The company has committed to invest CNY 46,492.62 million in projects, with a cumulative investment of CNY 33,264.89 million as of the reporting period[142]. Shareholder Information - The total number of ordinary shares increased from 98,767,256 to 131,689,675 after the IPO, representing a change of 33,922,419 shares[165]. - The largest shareholder, Yang Ming, holds 59,385,600 shares, representing 45.10% of the total shares[171]. - The company will not transfer or entrust others to manage its shares within 36 months from the date of listing[122]. - The company will adhere to the regulations set by the China Securities Regulatory Commission regarding shareholder reductions after the lock-up period[120]. Employee Management - The company has established a salary system linked to company performance and individual employee performance, including monthly comprehensive salary and annual performance bonuses[196]. - The company emphasizes employee training and development, implementing an annual training plan that includes various forms of internal and external training[197]. - The total number of employees in the parent company is 648, while the number in major subsidiaries is 241, totaling 889 employees[194]. - The total compensation for all directors, supervisors, and senior management at the end of the reporting period amounted to 429.96 million[193].