SD Lomon(SZ:002312)2021-04-01 16:00Financial Performance - The company's operating revenue for 2020 was 514.5 million CNY, a decrease of 10% compared to 2019[7]. - The net profit for 2020 was 40.5 million CNY, showing a significant increase from a net loss of 20.5 million CNY in 2019[9]. - Cash flow from operating activities for 2020 was 630 million CNY, a substantial improvement from 61 million CNY in 2019[21]. - The company's operating revenue for 2020 was ¥5,179,911,756.46, representing a 171.43% increase compared to the previous year[41]. - Net profit attributable to shareholders reached ¥668,738,342.83, a significant increase of 690.54% from the previous year[41]. - The net cash flow from operating activities was ¥630,421,882.57, up 938.47% compared to the previous year[41]. - The company's total assets at the end of 2020 were ¥7,334,564,765.35, a decrease of 5.78% from the end of 2019[41]. - The net assets attributable to shareholders increased by 20.58% to ¥3,831,500,164.69 at the end of 2020[41]. - The total operating revenue for 2020 reached CNY 5,179,911,756.46, representing a 171.43% increase compared to CNY 1,908,403,644.66 in 2019[141]. - The revenue from phosphate chemicals amounted to CNY 4,117,257,477.74, accounting for 79.49% of total revenue, with a year-on-year growth of 331.62%[141]. - The company reported a total sales volume of 2,219,067.08 tons, reflecting a year-on-year increase of 15.43%[147]. Business Strategy and Focus - The company plans to focus on expanding its phosphate chemical business and enhancing product development in the coming years[4]. - The company is committed to risk awareness regarding future development plans and market conditions[4]. - The company has outlined potential risks in its future operations, emphasizing the importance of investor awareness[4]. - The company completed a major asset restructuring in 2019, acquiring 100% equity of Longmang Dadi, shifting its main business focus to phosphorus chemical industry[38]. - The company divested its 100% stake in Dimension Financial, further concentrating on its core phosphorus chemical business[38]. - The company plans to enhance its market expansion efforts in the phosphorus chemical industry, leveraging its existing capabilities and partnerships[38]. - The company is committed to continuous innovation in its product offerings within the phosphorus chemical sector to maintain competitive advantage[38]. - The company aims to optimize its product structure and enhance profitability by developing a series of phosphate products, including feed-grade and industrial-grade phosphates[196]. - The company is positioned to benefit from industry consolidation and increasing demand for industrial-grade phosphates due to favorable national policies[194]. - The company has a strategic focus on resource utilization and technological innovation to enhance its competitive edge in the phosphate industry[196]. Production and Capacity - The phosphate chemical business accounted for 80% of total revenue, indicating a strong reliance on this segment[11]. - The company’s smart express cabinet business, through the subsidiary "Wo Lai La," underwent a significant restructuring and merger with Fengchao Technology, resulting in a 6.65% stake in the merged entity Hive Box[38]. - The company produced 364,800 tons of industrial-grade monoammonium phosphate, a year-on-year increase of 52.57%, making the company the largest producer and exporter in the world, with exports exceeding 50% of domestic total exports[55]. - The company produced 367,800 tons of feed-grade dicalcium phosphate, maintaining its position as the largest producer in China[58]. - The designed capacity for industrial-grade monoammonium phosphate is 300,000 tons/year with a utilization rate of 121.62%[114]. - The designed capacity for feed-grade dicalcium phosphate is 300,000 tons/year with a utilization rate of 122.60%[114]. - The designed capacity for fertilizer products is 1.5 million tons/year with a utilization rate of 93.04%[114]. - The total designed capacity for major products is 2.1 million tons/year with an overall utilization rate of 101.35%[114]. - The company has completed construction of all major products and is in normal production[114]. Research and Development - The company reported a significant increase in R&D personnel, rising to 467 in 2020 from 48 in 2019, representing a growth of 872.92%[169]. - R&D investment amounted to ¥43,961,044.32 in 2020, a dramatic increase of 2,765.77% compared to ¥1,534,003.00 in 2019[169]. - The company has completed various R&D projects, including the development of specialized fertilizers for garlic and oilseed rape, enhancing product offerings[164]. - The company is currently developing a specialized fertilizer for wheat, with ongoing research to establish optimal formulas[166]. - The company is exploring the effects of different green manure crops on orchard soil and microclimate, providing better recommendations for growers[167]. - The research on the application of ammonium polyphosphate has confirmed its basic properties, providing foundational data for future formulations[167]. Market and Sales - The company exported over 50% of its industrial-grade monoammonium phosphate, indicating strong international demand[139]. - Domestic sales contributed CNY 4,831,454,445.55, making up 93.27% of total revenue, with a 163.94% increase from the previous year[143]. - The revenue from industrial-grade monoammonium phosphate was ¥1,205,056,410.23, with a year-on-year increase of 358.97%[144]. - The average selling price of fertilizer products decreased by 11.21% due to market conditions[144]. - The overseas business primarily targets markets in South Asia, Turkey, and Southeast Asia, with no significant tax policy impacts reported[146]. Compliance and Safety - The company has a safety production standardization certificate valid until December 2024, indicating compliance with safety regulations[121]. - The company is currently applying for a secondary safety production standardization certificate, having previously held a tertiary certificate[121]. - The company has maintained compliance with safety production regulations, ensuring no major accidents have occurred during the license periods[136]. - The company has a structured approach to managing its hazardous chemicals, ensuring compliance with regulatory requirements[135]. Investments and Acquisitions - The company completed a non-public offering of 385,865,200 shares, raising a net amount of approximately CNY 1.97 billion[108]. - The total investment amount for the reporting period was ¥8,573,000, a decrease of 99.76% compared to ¥3,557,000,000 in the same period last year[179]. - The company established Sichuan Agricultural Technology Digital Information Technology Co., Ltd. with an investment of ¥4,000,000, holding an 80% stake[179]. - The acquisition of Chengdu Dailu Investment Management Co., Ltd. was completed for ¥4,573,000, acquiring 100% ownership[179].