Landfar(SZ:000504)2023-04-20 16:00Financial Performance - The company's operating revenue for 2020 was ¥175,564,990.41, representing a 30.86% increase compared to ¥134,160,531.96 in 2019[18]. - The net profit attributable to shareholders of the listed company for 2020 was ¥8,154,550.92, a decrease of 56.64% from ¥18,806,368.87 in 2019[18]. - The overall net profit for the company was CNY 0.82 million, a decline of 56.64% year-on-year, primarily due to increased operational costs[43]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥5,654,615.66, an increase of 120.01% compared to the previous year[19]. - The net cash flow from operating activities was -¥207,220,871.68, a decrease of 1,526.91% year-on-year[19]. - The total assets at the end of 2020 were ¥556,140,141.52, representing a 107.26% increase from the end of 2019[19]. - The net assets attributable to shareholders increased by 44.28% to ¥26,568,530.39 compared to the end of 2019[19]. Business Operations - The company continues to focus on the biomedicine and cell technology services sector, which has been its main business since 2014[16]. - The revenue from the biopharmaceutical segment was ¥97,807,000, a decrease of 1.11% year-on-year, while the energy-saving and environmental protection segment revenue increased by 120.55% to ¥77,758,000[27]. - The company has established a clinical application research system for cell technology, enhancing its core competitiveness in cell storage services[30]. - The company received approval from the Hunan Provincial Health Commission to conduct stem cell and immune cell storage business in Hunan Province[31]. - The company has a professional technical team for stem cell and immune cell research, including Nobel Laureate Gregg L. Semenza, and has established strategic partnerships with renowned research institutions[32]. - The company has established a multi-level strategic cooperation mechanism with various hospitals for basic and clinical research, enhancing its market presence[35]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[5]. - The actual controller of the company remains the Hunan Provincial People's Government after the share transfer[16]. - The company has maintained compliance with all commitments made to minority shareholders[110]. - The company guarantees that it will not engage in any business that competes with its main operations and will cease any such activities if they arise in the future[106]. - The company has not faced any delisting situations following the annual report disclosure[118]. - The company has established internal control mechanisms to prevent and detect material misstatements in financial reports[199]. Research and Development - The company initiated 6 independent R&D projects and 1 external research collaboration in 2020, focusing on stem cell and immune storage and detection[57]. - The number of R&D personnel increased by 50.00% from 92 in 2019 to 138 in 2020, accounting for 34.94% of the total workforce[63]. - R&D investment decreased by 67.93% from ¥15,515,677.43 in 2019 to ¥4,976,335.90 in 2020, representing only 2.83% of operating revenue[63]. Market and Industry Trends - The global stem cell market size was approximately $21.5 billion in 2010, exceeding $50 billion in 2014, and reaching $63.5 billion in 2015, with a compound annual growth rate of 24.2%[87]. - It is projected that the global stem cell market will reach $160 billion by 2021, indicating significant growth potential[87]. - In Hunan province, the stem cell storage rate is less than 1%, despite over 800,000 newborns annually, suggesting a vast market opportunity[87]. - The industry is experiencing increased competition, with foreign companies entering the market, posing challenges to domestic firms lacking core technologies and talent[94]. Financial Management - The company received financial support of ¥230 million from shareholders, contributing to a 46.99% increase in other payables[71]. - The company decided to extend a loan of 25.65 million yuan from Caixin Financial Holdings for one year at an interest rate of 4.35% per annum to supplement its liquidity[128]. - The company plans to borrow CNY 30 million from Hunan Caixin Financial Holdings Group for a period not exceeding 24 months at an interest rate of 4.75% per annum[130]. Audit and Compliance - The total audit fee for the current period was CNY 650,000, with CNY 550,000 allocated for the financial audit and internal control audit services[117]. - The internal control audit report was disclosed on March 31, 2021, and received a standard unqualified opinion[200]. - The company reported no significant internal control deficiencies during the reporting period[198]. Employee and Management Structure - The total number of employees is 395, with 384 from major subsidiaries and 11 from the parent company[176]. - The company adheres to a compensation policy linking income levels to company performance and long-term interests[178]. - The total remuneration for directors, supervisors, and senior management in the reporting period amounted to 2.8635 million yuan[173].