ST鸿达(002002) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was CNY 5,393,922,727.29, representing a 1.78% increase from CNY 5,299,650,818.13 in 2019[18]. - The net profit attributable to shareholders for 2020 was CNY 813,788,514.21, a 29.18% increase compared to CNY 629,948,190.80 in 2019[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 791,354,353.65, up 31.64% from CNY 601,154,893.79 in 2019[18]. - The net cash flow from operating activities increased by 39.89% to CNY 637,226,347.23 from CNY 455,514,795.37 in 2019[18]. - Basic earnings per share for 2020 were CNY 0.3142, a 29.14% increase from CNY 0.2433 in 2019[18]. - The diluted earnings per share rose by 6.17% to CNY 0.2583 from CNY 0.2433 in 2019[18]. - The weighted average return on equity was 11.14%, an increase of 1.30% from 9.84% in 2019[18]. - Total assets at the end of 2020 were CNY 17,906,726,515.69, reflecting a 6.54% increase from CNY 16,807,642,292.60 at the end of 2019[18]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.11 per 10 shares, totaling CNY 282,591,455.76 based on the adjusted share capital[7]. - The cash dividend for 2020 represents 3.47% of the net profit attributable to ordinary shareholders, which was 813,788,514.21 yuan[195]. - The total number of shares for the dividend distribution is based on 2,569,013,416 shares after excluding 21,711,700 shares held in the repurchase account[200]. - In 2019, the company distributed a cash dividend of 154,019,295.39 yuan, which accounted for 24.45% of the net profit[195]. - The company reported a total distributable profit of 36,726,654.94 yuan for the year 2020, with cash dividends accounting for 100% of this amount[197]. - The company did not propose any stock dividends or capital reserve transfers for the year 2020[196]. Business Operations and Strategy - The company has acknowledged potential risks related to market environment, safety, and environmental protection, but does not foresee any significant adverse impacts on operations[6]. - The company operates three R&D centers and has established partnerships with various international organizations to enhance its hydrogen energy technology[31]. - The company has established an integrated circular economy industrial chain from "resource energy - electricity - calcium carbide - PVC/caustic soda/hydrogen energy - soil conditioner - PVC new materials - electronic trading comprehensive business"[33]. - The company actively developed new applications for PVC materials, including disposable protective masks and ecological houses during the pandemic[34]. - The company is committed to soil remediation, producing soil conditioners and providing soil repair technology and services, contributing to agricultural productivity[36]. - The company has successfully implemented soil remediation projects in various provinces, improving the quality and yield of crops in previously barren lands[37]. - The company’s subsidiary, the Plastic Exchange, is the only national plastic electronic trading platform, providing services for various plastic products and establishing a price index for the industry[39]. Research and Development - The company holds 5 invention patents and 55 utility model patents, with a strong focus on R&D in PVC production technology[115]. - Research and development expenses increased by 49.76% to ¥156,325,234.09, reflecting the company's increased investment in hydrogen energy and soil remediation[140]. - The R&D personnel count increased by 7.42% to 521, with R&D expenses representing 2.90% of operating revenue[142]. - The company has established a new research institute focused on lightweight building materials and carbon reduction technologies[156]. - The company is collaborating with various research institutions to enhance its technological capabilities in hydrogen energy and new materials[116]. Market and Industry Trends - The rare earth industry has good development prospects in China, with the company focusing on rare earth hydrogen storage materials and catalysts as key development areas[35]. - The PVC market in China is expected to see further concentration, driven by mergers and acquisitions among competitive enterprises[74]. - The PVC industry is shifting towards high-quality development, with a focus on expanding traditional applications and exploring new markets[73]. - The demand for hydrogen energy in China is expected to increase rapidly, with a target of producing 50,000 fuel cell vehicles annually from 2020 to 2025, and 1.3 million from 2026 to 2035[57]. - The company is positioned within a complex hydrogen industry chain, which includes hydrogen production, storage, transportation, and fuel cell applications, all requiring advanced technology[53]. Environmental and Safety Initiatives - The company is committed to improving the safety level of its facilities through equipment upgrades and technological innovations[179]. - The company emphasizes safety production and environmental protection, with dedicated departments for safety management and regular equipment maintenance[179]. - The company is addressing environmental policy risks by implementing advanced production processes and technologies to minimize environmental impact and comply with stricter regulations[178]. - The company aims to achieve comprehensive control of national soil environmental risks by 2030, with a long-term goal of improving soil quality by mid-century[95]. Financial Management and Investments - The company has a significant debt scale due to capital-intensive operations and expansion into new businesses, which may pose financial risks[180]. - The company is leveraging capital market financing channels to optimize its financial structure for sustainable development[180]. - The company has not engaged in derivative investments during the reporting period[157]. - The company made no significant equity investments during the reporting period, marking a 100% decrease compared to the previous year[150]. - The company has a total of CNY 139,980.00 million in securities investments, with a fair value of CNY 71,030.00 million at the end of the reporting period[155]. Future Outlook - The company plans to enhance its hydrogen energy sector by building large-scale production lines for liquid hydrogen and high-purity hydrogen gas[169]. - The company aims to achieve operating revenue of 8 billion yuan in 2021, focusing on stable production and high output across various product lines[173]. - The company is committed to optimizing its product structure and expanding its leading position in the chlor-alkali sector while promoting soil remediation and new materials development[175]. - The company is actively developing its hydrogen energy business, with ongoing projects and investments in this sector[183].