乐通股份(002319) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥314,563,718.67, a decrease of 17.88% compared to ¥383,055,009.25 in 2019[18]. - The net profit attributable to shareholders in 2020 was ¥7,309,799.46, a significant improvement of 102.51% from a loss of ¥291,491,352.09 in 2019[18]. - The net cash flow from operating activities increased by 41.04% to ¥27,597,848.76 in 2020, compared to ¥19,567,057.66 in 2019[18]. - The basic earnings per share for 2020 was ¥0.04, recovering from a loss of ¥1.46 per share in 2019, marking a 102.74% increase[18]. - The company reported a decrease in revenue after deductions, with the adjusted operating revenue for 2020 at ¥309,440,806.55 compared to ¥377,622,744.70 in 2019[18]. - The net profit attributable to shareholders was negative in Q1 and Q3, with a loss of ¥6,452,290.39 in Q1 and ¥701,973.42 in Q3, but turned positive in Q2 and Q4 with profits of ¥7,417,644.21 and ¥7,046,419.06 respectively[22]. - The company reported a non-recurring gain of ¥37,858,003.34 in 2020, compared to a loss of ¥2,847,302.55 in 2019[24]. - The company reported a significant decline in overall performance due to the impact of the COVID-19 pandemic, with a focus on adapting to new marketing trends such as short video and live streaming[76]. Assets and Liabilities - Total assets at the end of 2020 were ¥626,524,542.55, down 4.30% from ¥654,651,989.30 at the end of 2019[18]. - The net assets attributable to shareholders increased by 1.20% to ¥142,051,055.37 at the end of 2020, compared to ¥140,361,986.87 at the end of 2019[18]. - The company's revenue for the chemical raw materials and chemical products manufacturing industry was approximately ¥292.26 million, representing a year-on-year decrease of 8.11%[44]. - The total cost of main business for the chemical raw materials and chemical products manufacturing industry was approximately ¥223.01 million, down 8.28% from the previous year[48]. - The company provided a guarantee of 1.52 billion CNY for its subsidiary, which represents 107% of the company's net assets[115]. Business Segments - The main business segments include ink manufacturing and internet advertising marketing, with a focus on high-end printing inks and innovative advertising solutions[27]. - The ink manufacturing sector is shifting towards more environmentally friendly products, such as water-based and UV inks, in response to regulatory trends[29]. - The internet advertising marketing sector is experiencing rapid growth, driven by increasing internet user numbers and evolving marketing channels, despite intense competition[29]. - The internet advertising marketing business generated revenue of ¥17,181,451.17, a significant decline of 71.16% year-on-year, with a net loss of -¥674,168.17, down 114.13% year-on-year[38]. Research and Development - The R&D team is focused on developing eco-friendly ink products, enhancing the company's competitive edge in the market[31]. - The company developed new products including water-based inks and UV inks, focusing on green and environmentally friendly trends[37]. - The company has invested 50 million RMB in R&D for new technologies aimed at improving product efficiency[162]. Operational Challenges - The company faced challenges in its ink manufacturing business due to macroeconomic downturns and rising raw material prices[36]. - The company is addressing rising operational costs due to fluctuating raw material prices and increasing labor costs by optimizing internal management and enhancing communication with upstream and downstream enterprises[75]. - The company acknowledges intensified competition in the ink industry, driven by rapid development and policy optimization, and plans to adopt scientific competition strategies to maintain market share[75]. Corporate Governance - The company has maintained a continuous relationship with its accounting firm, Da Hua Accounting Firm, for 14 years, with an audit fee of RMB 750,000[94]. - The company has not engaged in any investor communication or interviews during the reporting period[78]. - The company’s board of directors consists of seven members, including three independent directors, ensuring compliance with legal requirements[172]. - The company held four shareholder meetings during the reporting period, ensuring equal rights for all shareholders[171]. Future Outlook - The company plans to focus on the development of environmentally friendly inks, aligning with market trends towards sustainable products[71]. - The company aims to optimize its business structure and adjust operational strategies to achieve sustainable growth[36]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2023[162]. - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance production capacity by 30%[162]. Cash Flow and Financing - Operating cash inflow decreased by 18.18% to ¥302.99 million in 2020 compared to ¥370.32 million in 2019[58]. - Net cash flow from financing activities decreased by 58.01% to -¥39.35 million in 2020, mainly due to increased repayment of bank loans[59]. - Cash and cash equivalents increased by 306.98% to ¥18.04 million in 2020 compared to a decrease of ¥8.71 million in 2019[59]. Environmental and Social Responsibility - The company has established a wastewater treatment facility with a capacity of 10 tons per day, ensuring compliance with environmental standards[125]. - The company has upgraded its VOCs treatment facilities, with new equipment expected to be operational by 2021[125]. - The company maintains a strong commitment to environmental protection, ensuring that it is not classified as a key pollutant discharge unit[123]. Shareholder Information - The controlling shareholder, Shenzhen Dashing Asset Management Co., Ltd., holds 51,999,959 shares, representing 26.00% of the total share capital, with 99.98% of these shares pledged[98]. - The total number of shareholders at the end of the reporting period was 10,032, an increase from 9,812 at the end of the previous month[141]. - The largest shareholder, Shenzhen Dashing Asset Management Co., Ltd., holds 26.00% of the shares, totaling 51,999,959 shares, which are pledged[141]. Internal Controls and Audit - The audit opinion issued was a standard unqualified opinion, indicating that the financial statements fairly reflect the company's financial position as of December 31, 2020[195]. - The company maintained effective internal controls related to financial statements as of December 31, 2020, according to the internal control audit report[190]. - The internal control evaluation report disclosed no major deficiencies in financial or non-financial reporting[189].