宝莫股份(002476) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥447,314,622.27, representing a 7.30% increase compared to ¥416,892,274.68 in 2019[24]. - The net profit attributable to shareholders of the listed company decreased by 85.55% to ¥13,182,608.80 from ¥91,245,926.27 in 2019[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥12,785,450.82, a significant increase of 142.98% compared to a loss of ¥29,747,189.13 in 2019[24]. - Basic and diluted earnings per share dropped by 85.58% to ¥0.0215 from ¥0.1491 in the previous year[26]. - The weighted average return on net assets fell to 1.62%, down 10.34% from 11.96% in the previous year[26]. - The net cash flow from operating activities decreased by 35.69% to ¥32,516,430.47 compared to ¥50,563,549.67 in the previous year[26]. - The company reported a significant increase in accounts receivable, which rose by 80.37% compared to the beginning of the year, primarily due to increased overseas sales of chemical products[37]. - The company achieved a total revenue of 45,547,499.1 yuan from non-oilfield chemicals, reflecting a decrease of 3.96% due to fluctuations in raw material prices[59]. - The company reported a net profit attributable to shareholders of 13.18 million yuan for 2020, a decrease from 91.25 million yuan in 2019 and a loss of 26.41 million yuan in 2018[102]. Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares for the year[13]. - The company did not distribute any cash dividends in 2020, 2019, or 2018, maintaining a policy of no profit distribution due to negative retained earnings in the consolidated financial statements[102]. Risks and Challenges - The company faces risks related to high customer concentration, primarily relying on major clients like Sinopec and PetroChina[7]. - Fluctuations in raw material prices, particularly acrylonitrile, directly impact production costs and profitability[8]. - The company is exposed to risks from oil price volatility, which can significantly affect business development and operating performance[6]. - The company has identified market expansion risks due to increasing competition and potential ineffective marketing strategies[10]. - The company’s overseas business is subject to exchange rate risks due to transactions being denominated in USD[11]. - The company faces risks related to oil price fluctuations, high customer concentration, raw material price volatility, market expansion challenges, exchange rate fluctuations, and potential force majeure events[101]. Operational Efficiency and Market Strategy - The company plans to strengthen market development and maintain existing product market share in response to the ongoing challenges posed by the COVID-19 pandemic[36]. - The company aims to enhance its core capabilities through technological innovation and improve profitability amidst a challenging economic environment[36]. - The company has actively adjusted its product structure and marketing strategies in response to market demand, leading to improved operational efficiency[45]. - The company has implemented multiple technical improvements, including upgrades to granulation and screening systems, which have further optimized production efficiency and reduced costs[44]. - The company has successfully developed several new products, including high salt-resistant polyacrylamide and high-efficiency cationic polymers, enhancing its product portfolio[45]. Research and Development - The company has developed a total of 24 proprietary technologies and holds 24 patents, positioning its core technology as a leader in the industry[40]. - Research and development expenses for the year were ¥17,918,195.32, which is 4.01% of total revenue, with a decrease of 8.79% compared to the previous year[74]. - The company has invested 200 million RMB in R&D for new technologies aimed at improving production efficiency by 30%[180]. Environmental and Safety Management - The company is classified as a key pollutant discharge unit, with wastewater treatment capacity of 1,500 cubic meters per day and has implemented ultra-low emission modifications for its boiler[143][145]. - The company has established emergency response plans for potential environmental incidents and has filed necessary documents with local environmental authorities[146]. - The company has implemented safety management systems and has not experienced any major safety incidents in 2020, with a safety management budget of 3.65 million CNY and actual expenditure of 4.36 million CNY[141]. Shareholder and Governance - The company emphasizes shareholder interests, particularly for minority shareholders, and maintains good communication through various platforms[140]. - Independent directors actively participate in decision-making, ensuring fairness and protecting the rights of minority shareholders[193]. - The company has maintained a consistent relationship with its accounting firm, which has provided audit services for 16 consecutive years[117]. - The company strictly adheres to legal regulations in its governance practices, ensuring the legitimacy of shareholder meetings and board decisions[193]. Future Outlook - The company provided a future outlook with a revenue guidance of 1.8 billion RMB for the next fiscal year, indicating a growth target of 20%[180]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by the end of 2022[180]. - The company anticipates continued growth in oil demand as the global pandemic stabilizes, despite facing significant operational pressures[96].