BLB(SZ:002286)2021-04-28 16:00Financial Performance - Baolingbao reported a significant increase in revenue, achieving a total of RMB 1.2 billion in 2020, representing a year-on-year growth of 15%[14]. - The company's operating revenue for 2020 was ¥2,054,578,268.02, representing a 13.82% increase compared to ¥1,805,170,075.01 in 2019[6]. - The net profit attributable to shareholders for 2020 was ¥49,861,881.27, a 41.52% increase from ¥35,233,722.45 in 2019[6]. - The company reported a net profit of RMB 300 million for 2020, reflecting a 10% increase compared to the previous year[14]. - The company's total revenue for 2020 reached ¥2,054,578,268.02, representing a year-on-year increase of 13.82% from ¥1,805,170,075.01 in 2019[48]. - The net profit attributable to shareholders was CNY 49.86 million, representing a year-on-year growth of 41.52%[39]. - The net profit after deducting non-recurring gains and losses was ¥36,262,261.21, which is a 71.64% increase from ¥21,127,167.42 in 2019[6]. - The basic earnings per share for 2020 was ¥0.1400, up 40.00% from ¥0.1000 in 2019[6]. - The company reported a net profit of CNY 56,891,176.18 for the year 2020, with a profit distribution plan proposing a cash dividend of CNY 0.60 per 10 shares, totaling CNY 22,155,360.00[96]. Dividend Distribution - The company plans to distribute a cash dividend of 0.6 CNY per 10 shares to all shareholders, based on a total of 369,256,000 shares[4]. - The total distributable profit for 2020, after accounting for previous years' undistributed profits and dividends, was CNY 366,631,010.93[96]. - The company maintained its profit distribution policy as per the shareholder return plan approved in 2017, with no changes during the reporting period[93]. - The cash dividend for 2019 was ¥11,077,680, which was 31.44% of the net profit attributable to ordinary shareholders for that year[98]. - The cash dividend for 2018 was also ¥11,077,680, representing 25.79% of the net profit attributable to ordinary shareholders[98]. - The company’s cash dividend for 2018 was also CNY 0.30 per 10 shares, amounting to CNY 11,077,680.00, reflecting a stable dividend policy[95]. - The company’s cash dividend distribution has been transparent and has provided opportunities for minority shareholders to express their opinions[94]. - In 2020, the company distributed a cash dividend of ¥22,155,360, which represents 44.43% of the net profit attributable to ordinary shareholders[98]. - The total distributable profit for 2020 was ¥366,631,010.93, with the cash dividend accounting for 100% of the profit distribution[99]. Research and Development - The company is investing RMB 50 million in R&D for new product development, focusing on dietary fibers and functional sugars[14]. - Research and development investment amounted to ¥63,659,830.52, an increase of 5.56% compared to ¥60,306,726.68 in 2019[63]. - The number of R&D personnel increased by 1.39% to 146, while the proportion of R&D personnel decreased to 13.01%[63]. - The company has been involved in several key technology research projects, including "Key Technology Research and Application of Synthetic Biology Engineering" and "Research on High-Yield DPE Enzyme Safe Strain Construction"[60]. - The project "Key Technology Research and Industrialization of Efficient Preparation of Crystalline Fructose" was awarded first prize by the China Food Industry Association[61]. - The company holds two newly authorized invention patents related to the production of high maltose content maltose powder and low oligosaccharides[62]. - The company is committed to increasing research and development investments in functional sugar applications to enhance product quality and design capabilities[88]. Market Expansion and Strategy - Baolingbao plans to expand its market presence by entering three new provinces in 2021, targeting a 10% increase in market share[14]. - The company is exploring potential acquisitions to enhance its product portfolio and market reach, with a budget of RMB 100 million allocated for this purpose[14]. - The company is focusing on enhancing manufacturing capabilities through lean and digital transformation, aiming to transition from traditional manufacturing to advanced manufacturing[41]. - The company aims to enhance its core business in functional ingredients and expand into other emerging biological industries, focusing on creating a competitive health industry group[83]. - The company is actively expanding its product offerings, focusing on health products that improve immunity and weight management, with significant R&D efforts in new sugar sources and functional products[40]. Risk Management - The company has outlined potential risks in its future business operations, which investors should be aware of[4]. - The company is facing risks from raw material price fluctuations, particularly for corn and sugar, which could significantly impact profit margins if prices rise[84]. - The company plans to mitigate raw material price risks through futures hedging, improving production processes, and exploring new procurement models[84]. - The company anticipates challenges from intensified competition in the erythritol market, which may lead to price reductions and increased supply[87]. - The company is aware of the risk of profit decline due to increased depreciation from new fixed assets, and it plans to enhance market development efforts for new products[89]. Corporate Governance - The board of directors has ensured the accuracy and completeness of the annual report, taking legal responsibility for any misstatements or omissions[3]. - The company has committed to maintaining independence in assets, personnel, finance, and operations as part of its corporate governance[101]. - The company has a clear asset ownership structure, with no instances of asset or funds being misappropriated by the controlling shareholder[180]. - The company’s independent financial department operates under a standardized financial management system, ensuring independent decision-making and tax compliance[180]. - Independent directors attended all board meetings and shareholder meetings, with no objections raised against company matters during the reporting period[183][184]. Environmental Responsibility - The environmental impact report for the project to produce 13,000 tons of erythritol was approved on December 11, 2020[129]. - The company maintained stable operation of its environmental protection facilities, with no environmental violations or accidents reported in 2020[129]. - The company conducts automatic monitoring of wastewater discharge, with a chemical oxygen demand (COD) limit of 300 mg/L[133]. - The company has established a comprehensive self-monitoring plan for various pollutants, including total phosphorus and ammonia nitrogen[133]. - The company adheres to national environmental protection standards for emissions, ensuring compliance with local regulations[134]. Employee and Management Structure - The company employed a total of 1,122 staff, including 777 production personnel and 109 sales personnel[171]. - The educational background of employees includes 1 PhD, 57 Master's degrees, and 189 Bachelor's degrees[172]. - The current management team includes experienced professionals with backgrounds in finance, law, and engineering, enhancing the company's strategic capabilities[161][162][163][164]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 6.3463 million[170]. - The company has implemented a differentiated training program to enhance employee skills and motivation, contributing to healthy corporate development[174].