兄弟科技(002562) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥1,918,791,969.17, representing a 52.56% increase compared to ¥1,257,717,108.48 in 2019[19] - The net profit attributable to shareholders decreased by 36.04% to ¥28,028,820.43 in 2020 from ¥43,825,506.17 in 2019[19] - The total profit for the year was RMB 41.20 million, representing a year-on-year decrease of 13.17%[58] - The basic earnings per share decreased by 40.00% to ¥0.03 in 2020 from ¥0.05 in 2019[19] - The weighted average return on equity was 1.18% in 2020, down from 1.91% in 2019[19] - The gross profit margin for the pharmaceutical and chemical sector was 24.03%, down from 29.74% in the previous year[73] - The company reported a significant increase in export revenue, reaching ¥1,029,047,635.88, which is 10.29 billion, up 81.81% from the previous year[78] Cash Flow and Investments - The net cash flow from operating activities improved by 69.42%, reaching -¥28,867,357.01 in 2020, compared to -¥94,413,204.39 in 2019[19] - The total cash inflow from financing activities increased by 37.72% to 868,028,742.40 yuan in 2020[90] - The total cash outflow from investment activities decreased by 31.92% to 1,249,591,361.32 yuan in 2020[90] - The company raised a total of 1,226.74 million CNY through public offerings and private placements, with 155.25 million CNY utilized in the current period[110] - The company has a remaining balance of 562.25 million CNY in unused raised funds, which has not been allocated for any specific purpose[110] Assets and Liabilities - The total assets increased by 24.33% to ¥5,358,440,754.77 at the end of 2020, up from ¥4,309,940,220.92 at the end of 2019[19] - The net assets attributable to shareholders rose by 30.64% to ¥3,026,684,441.43 at the end of 2020, compared to ¥2,316,895,826.60 at the end of 2019[19] - Total assets included cash and cash equivalents of 748,081,305.76 yuan, accounting for 13.96% of total assets, down 5.88% from the beginning of the year[97] - Short-term borrowings increased to 409,569,595.82 yuan, accounting for 7.64% of total liabilities, a decrease of 0.49%[98] - Long-term borrowings reached 607,684,936.36 yuan, representing 11.34% of total liabilities, an increase of 3.42% due to financing for the acquisition of Brother CISA[98] Market Position and Growth - The company has established a strong position in the vitamin market, with an estimated 2020 production of 390,000 tons in China, accounting for 80% of global output, and a market value of approximately USD 3.9 billion[33] - The global flavor and fragrance market is projected to reach USD 30.2 billion in 2020, with an annual growth rate of 5.1%, driven by the Asian market's growth rate of 7.4%[34] - The company is focusing on expanding its flavor and fragrance business, with a new project for the production of 30,000 tons of natural flavors underway[30] - The company completed the acquisition of Brother CISA, enhancing its competitiveness in the chromium tanning agent market and extending its vitamin K3 production chain[32] Research and Development - The company obtained 7 invention patents and 18 utility model patents during the reporting period, enhancing its technological innovation capabilities[60] - The company has established partnerships with several domestic pharmaceutical R&D institutions, with 11 formulation products currently under development[31] - Research and development expenses amounted to 69,771,942.03 yuan in 2020, representing 3.64% of operating revenue, down from 5.60% in 2019[86] Risk Management - The company has acknowledged potential risks in its future development and has outlined corresponding countermeasures[6] - The company faces risks from macroeconomic uncertainties, industry competition, and fluctuations in raw material prices, and plans to mitigate these through strategic partnerships and innovation[129] Environmental and Social Responsibility - The company emphasizes safety management, having established a comprehensive safety management system with no major accidents reported during the reporting period[173] - The company has a significant focus on environmental protection and safety, as evidenced by its compliance with local regulations and obtaining necessary permits[67] - The company has actively engaged in social responsibility initiatives, including creating job opportunities for disabled individuals[172] Shareholder and Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares[7] - The company has not made any cash dividend distributions in 2020, despite having positive net profits available for distribution[139] - The company plans to retain undistributed profits for operational and project funding needs, enhancing its risk resilience[140] Corporate Governance - The company has committed to avoid competition and related party transactions, with commitments from all directors and senior management[142] - The company has maintained a continuous audit relationship with Tianjian Accounting Firm for 14 years[149] - The company has not made any changes to its accounting policies or estimates compared to the previous year's financial report[144]