SDDSC(SZ:002041)2021-04-20 16:00Financial Performance - The company reported a total revenue of 880 million RMB for the year 2020, with a year-on-year growth of 10%[10]. - The company's operating revenue for 2020 was ¥900,743,999.55, representing a year-over-year increase of 9.42% compared to ¥823,176,983.54 in 2019[29]. - The net profit attributable to shareholders for 2020 was ¥101,955,515.05, a significant increase of 145.18% from ¥41,583,136.60 in 2019[29]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥46,736,318.81, up 277.66% from -¥26,306,664.98 in 2019[29]. - The net cash flow from operating activities for 2020 was ¥369,441,568.42, an increase of 79.03% compared to ¥206,352,920.53 in 2019[29]. - The basic earnings per share for 2020 was ¥0.1159, reflecting a 145.03% increase from ¥0.0473 in 2019[29]. - The total assets at the end of 2020 were ¥3,760,508,569.11, a 1.96% increase from ¥3,688,154,677.31 at the end of 2019[29]. - The net assets attributable to shareholders at the end of 2020 were ¥2,889,065,245.21, up 1.73% from ¥2,839,909,730.16 at the end of 2019[29]. - The company achieved operating revenue of 900.744 million yuan, a year-on-year increase of 9.42%[48]. - The company reported a significant increase in sales volume for corn seeds, reaching ¥553.04 million, which is a 16.18% increase from ¥476.03 million in 2019[69]. - The gross profit margin for the agriculture sector was 28.95%, down 3.72% from the previous year[68]. - The company reported a total revenue of 1.2 billion RMB for the year 2020, representing a year-on-year increase of 15%[194]. - The gross profit margin improved to 35%, up from 32% in the previous year, indicating better cost management and pricing strategies[194]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB, representing a 20% year-over-year growth[199]. Research and Development - The company emphasizes the importance of new variety research and development, which is costly and time-consuming, with uncertain market acceptance[10]. - The company has established a stable development model in crop breeding, focusing on hybrid corn varieties, which are the main source of profit[41]. - The company owns national-level research platforms and has over 3,000 acres of breeding test fields, indicating strong R&D capabilities[41]. - The company applied for 35 new plant variety rights in 2020, with a total of 147 authorized plant variety rights as of December 31, 2020[63]. - The company has a total of 15 patents, including 8 invention patents and 7 utility model patents, with 5 patents authorized in 2020[63]. - The company is actively involved in research and development, with a focus on breeding innovation and improving seed quality[48]. - The company plans to increase R&D investment to enhance technological innovation and develop competitive new corn varieties[108]. - The company has invested 50 million RMB in R&D for new agricultural technologies, aiming to improve crop yields by 20%[198]. - The company is investing in new technology development, allocating 100 million RMB for R&D initiatives[199]. Market Strategy and Expansion - The company has a strong focus on expanding its market presence and enhancing its product offerings through innovation[10]. - The company is focusing on providing comprehensive services to new customer groups such as large-scale farmers and agricultural cooperatives[48]. - The company is adapting its marketing strategy to address the increasing competition and market challenges in the corn seed sector[48]. - Market expansion efforts are focused on increasing distribution channels in southern China, targeting a 15% increase in sales in that region[194]. - The company plans to launch three new corn seed varieties in 2021, aiming for a 10% market share increase in the premium segment[198]. - Future outlook includes a projected revenue growth of 12% for 2021, driven by new product launches and market expansion efforts[194]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 500 million RMB for potential deals[199]. - A new marketing strategy is being implemented, aiming to increase brand awareness by 30% in the next six months[200]. Risk Management - The company faces risks related to natural disasters that could significantly impact seed production, affecting both yield and quality[7]. - The seed industry is experiencing high inventory levels, which poses a market risk for the company[10]. - The company recognizes the risk of new variety market promotion and plans to provide technical guidance and follow-up services to mitigate this risk[111]. - The company is aware of potential risks from policy adjustments in the corn industry and will strengthen its competitive varieties in key production areas[112]. - The company faces production risks due to climate sensitivity and plans to enhance production management and technology to minimize these risks[115]. Corporate Governance - The board of directors ensures the accuracy and completeness of the financial report, taking legal responsibility for any misrepresentation[5]. - The company has implemented a comprehensive profit distribution policy in compliance with regulations, ensuring the protection of minority shareholders' rights[120]. - The company has not engaged in any major asset or equity sales during the reporting period[101]. - The company has not faced any delisting situations following the annual report disclosure[134]. - The company has not experienced any major litigation or arbitration matters during the reporting period[135]. - There were no significant penalties or rectification situations during the reporting period[136]. - The company did not implement any equity incentive plans or employee stock ownership plans during the reporting period[137]. - The company has not engaged in any related party transactions during the reporting period[140]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 80,387, a decrease from 88,614 at the end of the previous month[170]. - The largest shareholder, Laizhou Agricultural Academy, holds 53.21% of the shares, totaling 468,223,255 shares[171]. - Li Denghai, a natural person, holds 7.33% of the shares, amounting to 64,512,765 shares[171]. - Central Huijin Asset Management holds 2.02% of the shares, which is 17,795,900 shares[171]. - The top 10 shareholders include various funds, with the largest being Laizhou Agricultural Academy, followed by Li Denghai and Central Huijin Asset Management[177]. - The company did not experience any changes in its controlling shareholder during the reporting period[181]. - The actual controller, Li Denghai, is recognized as a leading figure in hybrid corn breeding and has held multiple significant positions in agricultural committees[184]. - There were no changes in the actual controller during the reporting period[185]. Dividend Policy - The profit distribution plan approved by the board is to distribute a cash dividend of 0.35 RMB per 10 shares, based on a total of 880 million shares[10]. - The cash dividend policy for 2020 proposes a distribution of CNY 0.35 per share (tax included), totaling CNY 30,800,000, which represents 30.21% of the net profit attributable to ordinary shareholders[121]. - In 2019, the cash dividend was CNY 0.60 per share (tax included), totaling CNY 52,800,000, which was 126.97% of the net profit attributable to ordinary shareholders[121]. - The company’s total distributable profit for 2020 is CNY 1,558,829,043.43, with the cash dividend accounting for 100% of the total profit distribution[125].