Shanghai RAAS(SZ:002252)2021-04-22 16:00Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.25 per 10 shares, totaling RMB 168,519,697.68 (including tax) to all shareholders[3]. - The total number of shares for the dividend distribution is based on the total share capital of 6,740,787,907 shares[3]. - The cash dividend for 2020 represents 12.73% of the net profit attributable to shareholders, which is RMB 1,323,711,055.48[97]. - In 2019, the company distributed a cash dividend of RMB 0.10 per 10 shares, totaling RMB 67,407,879.07, which was 11.09% of the net profit[97]. - The company did not distribute any dividends in 2018 due to a net loss of RMB 1,518,397,022.03[97]. - The actual distributable profit for 2020 is RMB 2,036,679,717.41 after accounting for legal reserves and previous dividends[98]. - The company has a policy to ensure that cash dividends account for at least 80% of the profit distribution when in a mature development stage[98]. - The independent directors have fulfilled their responsibilities in the decision-making process regarding the cash dividend policy[95]. Financial Performance - The company's operating revenue for 2020 was ¥2,761,682,036.39, representing a 6.84% increase from ¥2,584,983,982.36 in 2019[15]. - The net profit attributable to shareholders for 2020 was ¥1,323,711,055.48, a significant increase of 117.75% compared to ¥607,893,711.51 in 2019[15]. - The net cash flow from operating activities for 2020 was ¥1,168,847,146.49, up 33.94% from ¥872,694,470.49 in 2019[15]. - The total assets at the end of 2020 reached ¥25,493,798,616.93, a 115.08% increase from ¥11,853,051,145.30 at the end of 2019[15]. - The diluted earnings per share for 2020 was ¥0.21, reflecting a 75.00% increase from ¥0.12 in 2019[15]. - The weighted average return on equity for 2020 was 5.83%, an increase of 0.40 percentage points from 5.43% in 2019[15]. - The company reported a total of ¥7,030,456.23 in non-recurring gains and losses for 2020, compared to ¥9,750,924.67 in 2019[18]. Business Operations - The company has maintained its main business operations without any changes since its listing[12]. - The company has not experienced any changes in its controlling shareholders since its listing[12]. - The company produced a total of 11 product varieties, including human albumin and immunoglobulin, across its subsidiaries[20]. - The company has ongoing research and development efforts for new products, including various immunoglobulin formulations and coagulation factor products[20]. - The company achieved a total plasma collection of over 1,200 tons during the reporting period, maintaining a leading position in the industry[25]. - The company successfully restructured its marketing system, resulting in some product sales reaching historical highs during the reporting period[25]. - The company has established 41 plasma collection stations across 11 provinces, ensuring a high plasma utilization rate and a comprehensive product range[25]. Strategic Partnerships and Acquisitions - The company completed a significant asset restructuring project in March 2020, acquiring a 45% stake in Grifols, S.A., which increased long-term equity investments by 3,618.51% compared to the beginning of the period[27]. - The company is committed to a strategic partnership with Grifols, which includes a performance compensation agreement ensuring a cumulative EBITDA of no less than $1.3 billion from 2019 to 2023[28]. - The strategic merger with global blood product leader Grifols was completed, with Grifols acquiring a 26.20% stake in the company, enhancing collaboration in multiple fields[33]. - The company has signed a quality agreement with Grifols, which is expected to enhance product quality and operational efficiency[25]. Research and Development - The company has increased its R&D investment and improved its innovation capabilities, with a focus on developing new products and enhancing existing processes[36]. - The company is developing several new products, including human coagulation factor VIII and human immunoglobulin for hepatitis B, to enhance its product line[53]. - The company is preparing for clinical trials for the activated prothrombin complex, aimed at improving the quality of life for hemophilia patients[52]. - Research and development expenses increased by 26.61% to ¥129,692,987.55, indicating a focus on innovation[51]. - The number of R&D personnel rose by 31.34% to 176, representing 5.91% of the total workforce[55]. Risk Management - The company has not identified any significant risk factors that could adversely affect its production, financial status, or ongoing profitability[3]. - The company emphasizes a management philosophy centered on safety, quality, and efficiency, aiming to enhance operational effectiveness and management efficiency[26]. - The company has implemented a new management model to improve risk management and quality control at plasma collection stations[25]. - The company faces potential safety risks related to blood products due to the nature of raw materials, despite implementing pathogen screening and virus inactivation measures[89]. - There is a risk of rising plasma costs due to increased labor income and inflation, prompting the company to optimize production processes and enhance donor retention[90]. Compliance and Governance - The company has confirmed that there have been no false records in financial documents or violations of securities laws in the past 36 months, fulfilling its commitments related to the major asset restructuring[101]. - The company has not faced any significant administrative penalties or criminal charges in the last three years[103]. - The company has maintained a good operational status and has not faced any legal issues that would affect its continued operation[103]. - The company guarantees the authenticity and completeness of the materials provided for the major asset restructuring[103]. - The company has committed to improving its governance structure to ensure shareholder rights are upheld and management decisions are made prudently[105]. Environmental Responsibility - The company has established a wastewater treatment plant with a capacity of 600 m³/d, which operates continuously[139]. - The company has received multiple environmental approvals, including the environmental impact report for the new plant construction in 2009 and various approvals for production phases up to 2020[141][142]. - The company has implemented a daily sampling plan for wastewater emissions and conducts quarterly third-party assessments for water, air, and noise[145]. - The company was awarded the title of "Water-saving Enterprise" in November 2020, highlighting its commitment to environmental sustainability[148]. - The company has made significant investments in pollution control technologies, including advanced odor treatment systems for wastewater and gas emissions[140]. Shareholder Structure - Grifols, S.A. became the largest shareholder, holding 26.20% of the company's shares after the acquisition[188]. - The total number of common shareholders at the end of the reporting period was 122,362, an increase from 117,986 at the end of the previous month[190]. - The second largest shareholder, Keri Tiancheng Investment Holdings Co., Ltd., holds 20.13% of shares, totaling 1,356,825,353 shares, with a decrease of 225,704,211 shares during the reporting period[190]. - The company has confirmed that there are no related party transactions among the top 10 shareholders, ensuring compliance with regulations[194]. - The company has a diverse shareholder base, with significant holdings from various investment entities, enhancing its financial stability[196]. Debt and Financial Challenges - The company has established a debt committee in Q3 2020 to address its financial challenges[126]. - The company emphasizes that the debt issues of its controlling shareholders will not significantly impact its operations and development[126]. - Kairuitiancheng is involved in 44 lawsuits with a total disputed amount of RMB 4.73 billion, filed by various securities firms[126]. - The company is actively negotiating debt resolution with creditors, which is expected to mitigate any potential impact on operations[197]. - The company has committed to improving compliance with information disclosure regulations following warnings issued to its executives[125].