HBYH(SZ:000422)2021-04-28 16:00Financial Performance - The company's operating revenue for 2020 was ¥13,804,699,864.62, a decrease of 5.83% compared to ¥14,660,024,897.32 in 2019[23] - The net profit attributable to shareholders for 2020 was ¥115,794,866.77, down 29.56% from ¥164,393,911.64 in 2019[23] - The net cash flow from operating activities decreased by 44.06% to ¥1,260,708,214.74 in 2020 from ¥2,253,870,395.91 in 2019[23] - The basic earnings per share for 2020 increased by 40.22% to ¥0.129 from ¥0.092 in 2019[23] - The total assets at the end of 2020 were ¥22,015,668,467.05, a decrease of 4.80% from ¥23,125,148,634.95 at the end of 2019[23] - The net assets attributable to shareholders at the end of 2020 were ¥326,207,863.93, an increase of 95.34% from ¥166,994,697.29 at the end of 2019[23] - The company reported a significant improvement in net profit excluding non-recurring gains and losses, with a reduction in losses by 50.91% compared to the previous year[23] - The weighted average return on equity for 2020 was 47.49%, an increase of 30.40% from 17.09% in 2019[23] Production and Capacity - The company has a urea production capacity of 1.56 million tons, with a significant portion coming from its subsidiary in Inner Mongolia, which has an annual capacity of 1.04 million tons[41] - The company’s diammonium phosphate production capacity stands at 1.26 million tons, with its subsidiaries contributing 660,000 tons and 600,000 tons respectively[44] - The company achieved a urea production capacity utilization rate of 80% with a designed capacity of 156,000 tons[63] - The company reported a phosphate diammonium production capacity utilization rate of 90% with a designed capacity of 126,000 tons[63] - The company has a total PVC production capacity of 840,000 tons, with subsidiaries contributing 300,000 tons and 120,000 tons from two other subsidiaries[45] - The company has a total annual production capacity of 1.2 million tons for sulfuric acid and 300,000 tons for phosphoric acid across its subsidiaries[66] Market and Sales - The revenue from fertilizer products was approximately ¥6.62 billion, accounting for 47.92% of total revenue, with a year-on-year decrease of 1.52%[85] - The revenue from chemical products was approximately ¥6.03 billion, representing 43.65% of total revenue, with a year-on-year decrease of 9.53%[85] - Domestic sales accounted for 81.43% of total revenue at approximately ¥11.24 billion, while international sales accounted for 18.57% at approximately ¥2.56 billion, with international sales increasing by 14.51% year-on-year[88] - The company’s diammonium phosphate products are primarily sold in Northeast, Northwest, Shandong, Central, South China, and Xinjiang regions, with a focus on A-level and B-level customers[80] - The company has successfully maintained stable relationships with its major clients, contributing to consistent sales performance[80] Research and Development - The company has obtained 19 patents related to its core technologies in the fertilizer industry, showcasing its R&D advantages[59] - The company has invested in over 20 R&D projects, including new technologies for ammonia production and mercury pollution reduction[107] - The number of R&D personnel increased by 35.15% to 596, representing 8.00% of total employees[108] - R&D expenses amounted to ¥326,179,771.96, a decrease of 32.63% compared to the previous year[108] Acquisitions and Investments - The company acquired 51% of the equity in Jingxian Shengke Environmental Technology Co., Ltd. and 100% of Guizhou Wanshan Galaxy Chemical Co., Ltd. to enhance its industrial chain[57] - The company acquired a 51% stake in Jingxian Shengke Environmental Technology Co., Ltd. for ¥15,520,200.00 on January 1, 2020[99] - The company also acquired a 100% stake in Guizhou Wanshan Galaxy Chemical Co., Ltd. for ¥53,025,700.00 on January 1, 2020[99] - The net profit from the acquired companies from the acquisition date to the end of the reporting period was ¥4,460,643.14 for Jingxian Shengke and ¥755,225.68 for Guizhou Wanshan[99] Environmental and Safety Compliance - The company maintains a safety-first principle and has not experienced any safety or environmental incidents during the reporting period[57] - The company is focused on developing new technologies to improve energy efficiency and reduce emissions in its production processes[63] - The company reported a total sulfur dioxide emission of 99.8 tons per annum and nitrogen oxides of 258.6 tons per annum[70] - The company achieved a chemical oxygen demand (COD) of 501 tons per annum and ammonia nitrogen of 132 tons per annum[70] - The company is committed to meeting regulatory requirements and enhancing its sustainability practices[72] Strategic Planning and Future Outlook - The company plans to produce 2.5 million tons of fertilizer and 1.8 million tons of chemical products in 2021, with a revenue target of 14.5 billion yuan[142] - The company is focusing on upgrading its traditional industries and developing new chemical materials and high-end specialty chemicals as part of its strategic plan[141] - The company is actively pursuing strategic acquisitions to bolster its market position and diversify its product portfolio[72] - The company plans not to distribute cash dividends, issue bonus shares, or convert capital reserves into share capital for the year[151] Related Party Transactions and Governance - The company reported a total of 67,562.78 million CNY in related party transactions, with an approved transaction amount of 71,500 million CNY[179] - The company confirmed that all related party transactions were executed within the approved limits during the reporting period[179] - The company has maintained a commitment to ensure independence in operations, assets, finances, and management during the tenure of the controlling shareholder[154] - The company has committed to avoiding unfair transactions and minimizing related party transactions to protect the interests of shareholders[154]