RTGF(SZ:002440)2021-04-28 16:00Financial Performance - The company's operating revenue for 2020 was ¥5,228,130,173.91, a decrease of 19.73% compared to ¥6,513,168,920.40 in 2019[32]. - The net profit attributable to shareholders for 2020 was ¥788,176,752.31, down 42.47% from ¥1,369,965,968.02 in 2019[32]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥556,262,543.48, a decline of 48.26% from ¥1,075,108,188.82 in 2019[32]. - The net cash flow from operating activities was ¥1,547,847,445.81, a decrease of 15.86% compared to ¥1,839,697,241.26 in 2019[32]. - The total assets at the end of 2020 were ¥11,354,172,670.91, an increase of 4.06% from ¥10,910,713,769.79 at the end of 2019[32]. - The net assets attributable to shareholders at the end of 2020 were ¥9,152,853,542.48, up 4.30% from ¥8,775,344,168.56 at the end of 2019[32]. - The basic earnings per share for 2020 was ¥0.69, down 42.02% from ¥1.19 in 2019[32]. - The weighted average return on equity for 2020 was 8.81%, a decrease of 7.65% from 16.46% in 2019[32]. - The company reported a total of ¥261,577,742.68 in government subsidies related to its business for 2020[38]. - The company's operating profit was ¥920,483,000.65, down 41.32% year-on-year, and net profit attributable to shareholders was ¥788,176,752.31, a decrease of 42.47%[66]. - The total sales of dyes for the year reached 163,000 tons, representing a year-on-year decline of 2.98%[67]. Investment and R&D - The company invested 196.63 million yuan in R&D during the reporting period, applying for 28 invention patents and obtaining 27 authorized invention patents[61]. - The company’s R&D projects included 70 initiatives, with 32 completed, focusing on environmentally friendly dyes and production processes[102]. - The company's R&D investment in 2020 was ¥196,627,205.23, which is a decrease of 14.70% compared to ¥230,508,318.21 in 2019[105]. - The number of R&D personnel increased by 17.19% from 768 in 2019 to 900 in 2020, with R&D personnel accounting for 17.56% of the total workforce[105]. Safety and Environmental Management - The company emphasizes the importance of safety in production and will continue to invest in safety management practices, including the adoption of advanced safety management methods from Australia[10]. - The company will focus on maintaining a good safety environment and enhancing grassroots safety supervision to ensure safe production practices[10]. - The company will increase its investment in environmental protection in response to the new Environmental Protection Law, which may affect upstream raw material suppliers[11]. - The company aims to control costs and adjust procurement and sales strategies in response to market fluctuations caused by stringent environmental regulations[12]. - The company emphasizes environmental protection, aiming for a reduction in waste and a commitment to green and safe production practices[138]. - Safety and environmental management are prioritized, with ongoing investments in safety production and adherence to advanced safety management methods[146]. Market and Strategic Positioning - The company has a strong market position, with approximately 70% of the world's dye production occurring in China, where Zhejiang Runtu is among the top dye manufacturers[137]. - The company will enhance its market sales strategy to balance production and sales effectively, ensuring timely collection of accounts receivable[141]. - The company will closely monitor macroeconomic trends and adjust its development strategies in response to changes in national industrial policies that impact the textile dyeing industry[7]. - The company acknowledges the ongoing risks posed by the COVID-19 pandemic and will actively assess its impact on the industry chain to mitigate adverse effects on operations[13]. - The company is aware of risks related to macroeconomic changes and will adjust its strategies accordingly to mitigate these risks[145]. Profit Distribution and Dividends - The company plans to distribute a cash dividend of 3.5 RMB per 10 shares (including tax) based on a total share base of 1,128,131,505 shares after accounting for share repurchases[16]. - The company distributed cash dividends of RMB 394,846,026.75 for the fiscal year 2020, which is 50.10% of the net profit attributable to ordinary shareholders[160]. - The cash dividend per 10 shares for 2020 was set at RMB 3.5, based on a total share capital of 1,150,500,000 shares, excluding 22,368,495 shares held in the repurchase account[161]. - The total distributable profit for the company as of December 31, 2020, was RMB 3,394,530,160.04[161]. - The company has maintained a clear and transparent cash dividend policy, ensuring that minority shareholders have the opportunity to express their opinions[161]. Operational Efficiency - The company focused on enhancing management efficiency and cost reduction through various operational reforms[70]. - The company has implemented significant technological upgrades, improving production efficiency and reducing costs through projects like the continuous production of nitrosylsulfuric acid[68]. - The company has a self-built 30MW cogeneration project, which helps reduce overall electricity costs[83]. - The company maintained a stable production process with no significant changes in major energy types during the reporting period[73]. Compliance and Risk Management - The company is actively renewing necessary permits and licenses for production operations, ensuring compliance with regulatory requirements[80]. - The company has established a derivative trading management system to mitigate risks associated with financial derivatives[126]. - The company’s risk management measures include careful selection of trading partners and adherence to established trading principles[126]. - The company did not experience any major litigation or arbitration matters during the reporting period[173]. - The company maintained a good credit status with no significant debts due that were unpaid during the reporting period[178].