BCC(SZ:002455)2021-04-26 16:00Financial Performance - The company's operating revenue for 2020 was ¥2,186,730,175.08, a decrease of 15.07% compared to ¥2,574,641,104.73 in 2019[14]. - The net profit attributable to shareholders was ¥66,455,337.01, representing a 2.68% increase from ¥64,718,353.87 in the previous year[14]. - The net profit after deducting non-recurring gains and losses was ¥28,541,414.27, down 45.80% from ¥52,659,140.99 in 2019[14]. - The net cash flow from operating activities was ¥181,784,908.62, a decrease of 15.10% compared to ¥214,126,973.55 in 2019[14]. - The total assets at the end of 2020 were ¥5,006,304,155.88, an increase of 75.01% from ¥2,860,591,584.85 at the end of 2019[14]. - The basic earnings per share remained at ¥0.13, unchanged from the previous year[14]. - The diluted earnings per share also remained at ¥0.13, consistent with 2019[14]. - The weighted average return on net assets was 4.67%, a slight decrease from 4.90% in 2019[14]. - The total operating income for the fourth quarter was CNY 648,442,222.79, with a total annual operating income of CNY 2,186,730,174.08[19]. - The net profit attributable to shareholders for the fourth quarter was CNY 33,356,463.74, showing a recovery from a loss of CNY 15,794,601.55 in the first quarter[19]. Cash Flow and Investments - The company reported total cash inflow from operating activities in 2020 was approximately ¥1.96 billion, a decrease of 5.19% compared to ¥2.06 billion in 2019[82]. - Net cash flow from operating activities was ¥181.78 million, down 15.10% from ¥214.13 million in the previous year[82]. - Total cash inflow from financing activities increased significantly by 64.12% to ¥1.95 billion, primarily due to the issuance of convertible bonds[83]. - Net cash flow from financing activities surged by 1,832.47% to ¥641.78 million, compared to ¥33.21 million in 2019[83]. - The company invested approximately ¥1.79 billion during the reporting period, representing a 367.54% increase compared to the previous year[91]. - The cash flow from investment activities was negative at approximately -¥938.16 million, worsening by 115.38% from -¥435.59 million in 2019 due to increased cash payments for projects[83]. Research and Development - The company is engaged in the research and development of new chemical products, including various esters and resins, to expand its market presence[24]. - The company has established a high-level interactive R&D platform, including the Jiangsu Province Organic Solvent Engineering Technology Research Center[39]. - The company has 10 invention patents and 9 utility model patents related to its core products, enhancing its R&D capabilities[56]. - The company aims to increase R&D investment in new products and environmentally friendly production processes, particularly high value-added products, to improve competitiveness and reduce costs[117]. Market and Sales - Domestic sales accounted for 81.34% of total revenue, while international sales dropped to 18.66%, a decrease of 48.08% compared to the previous year[64]. - The revenue from acetate esters was ¥1,268,569,199.05, representing 58.01% of total revenue, with a decline of 8.68% from the previous year[64]. - The company’s overseas business contributed more than 10% to the audited operating income, with key markets including South Korea, Vietnam, and Japan[68]. - The company has built a professional sales team and established a matrix marketing model, covering multiple regions in China and exporting to various countries[41]. Risk Management - The company has identified several risk factors, including industry economic risks and raw material price fluctuations, and has outlined corresponding countermeasures[4]. - The company faces risks from macroeconomic conditions, safety production, environmental protection, raw material price fluctuations, and market competition[113][114][115]. Environmental and Safety Management - The company adheres to national and local environmental protection laws, viewing environmental investment as essential for long-term sustainable development[173]. - The company has established a comprehensive safety production management system, including 14 dedicated safety management personnel, exceeding 2% of total employees, all with relevant qualifications and experience[177]. - No safety production accidents occurred during the reporting period, and the company passed all local safety inspections without penalties[178]. - The company is committed to enhancing safety and environmental management, including employee training and emergency response capabilities, to ensure stable production operations[117]. Shareholder Returns - The company plans to distribute a cash dividend of ¥1 per 10 shares to all shareholders[4]. - The cash dividend payout ratio for 2020 is 75.88% of the net profit attributable to ordinary shareholders, reflecting a strong commitment to returning value to shareholders[126]. - The total cash dividend amount is 50,425,261.70 CNY, which accounts for 100% of the distributable profit of 107,819,682.78 CNY[129]. Corporate Governance - The company has committed to not transferring more than 25% of their shares during their tenure and not transferring any shares within six months of resignation[135]. - The company ensures that its major shareholders do not engage in competing businesses that could harm the company's interests[136]. - The company has implemented measures to ensure that the interests of shareholders are protected and that no unfair benefits are provided to other entities[136].