MQR(SZ:002719)2021-12-16 16:00Financial Performance - The company's operating revenue for 2020 was ¥875,419,375.06, representing a 30.55% increase compared to ¥670,570,447.53 in 2019[16] - The net profit attributable to shareholders for 2020 was ¥52,750,759.91, a significant turnaround from a loss of ¥69,464,857.87 in 2019, marking a 175.94% improvement[16] - The net cash flow from operating activities increased by 64.73% to ¥158,979,738.44 in 2020, up from ¥96,508,587.12 in 2019[16] - Basic earnings per share for 2020 were ¥0.3029, compared to a loss of ¥0.750 in 2019, reflecting a 139.20% increase[16] - Total assets at the end of 2020 were ¥1,420,646,681.18, a 15.92% increase from ¥1,225,542,096.35 at the end of 2019[16] - The net assets attributable to shareholders increased by 6.59% to ¥874,971,345.48 at the end of 2020, compared to ¥820,910,773.33 at the end of 2019[16] - The company reported a weighted average return on equity of 6.22% in 2020, a significant recovery from -7.76% in 2019, indicating a 180.17% improvement[16] - The net profit after deducting non-recurring gains and losses was ¥6,109,988.36 in 2020, compared to a loss of ¥72,268,858.00 in 2019, marking a 108.45% increase[16] Dividend Distribution - The company plans to distribute a cash dividend of ¥0.1652 per 10 shares, based on a total of 174,139,457 shares[4] - The proposed cash dividend for 2020 is CNY 0.1652 per share, totaling CNY 2,876,783.83 in dividends distributed[93] - In 2020, the company declared a cash dividend of CNY 2,875,540.93, representing 5.45% of the net profit attributable to ordinary shareholders[94] - For the reporting period, the total cash dividend amount was CNY 2,876,783.83, which accounted for 20% of the distributable profit of CNY 14,377,704.64[95] - The company has committed to maintaining a minimum cash dividend ratio of 20% during profit distribution[97] - The remaining undistributed profits will be carried forward to future years, reflecting a strategy for sustainable growth[98] - The overall cash dividend distribution reflects the company's commitment to providing reasonable returns to investors while ensuring sustainable development[98] Operational Developments - The company has established a comprehensive sales network covering the entire Xinjiang region, with nearly 200 baking chain stores in Ningbo and 50 in Xinjiang[29] - The company aims to leverage its geographical advantages in Xinjiang to enhance its market presence in the Beijing-Tianjin-Hebei and Yangtze River Delta regions[25] - The company’s product lines include dairy products and baked goods, with a focus on high-end food processing in the modern food industry[25] - The company launched over 30 new products in 2020, generating sales revenue of more than CNY 35 million, with R&D investment increasing by 60.98% compared to 2019[36] - The company operated 206 bakery chain stores by the end of 2020, including 67 direct-operated and 139 franchised stores[36] - The company has a national-level technology center that focuses on innovation and product development, ensuring high-quality new product offerings[30] Market and Sales Performance - Revenue from dairy products reached CNY 464.60 million, accounting for 53.07% of total revenue, with an impressive growth of 82.73% year-on-year[43] - The total sales volume increased by 64.84% year-on-year, with dairy product sales volume growing by 56.97%[40] - The company’s online sales channels contributed significantly, although specific percentages were not disclosed[36] - The company’s main sales channels include KA supermarkets, terminal stores, distributors, and online O2O sales channels[36] - The company has established a strong brand presence in Xinjiang, with its "Maiqu'er" brand recognized as a leading brand in the region[35] Investment and Financial Management - The company reported a significant increase in investment income from entrusted asset management, amounting to 5,991,299.66 in 2020, up from 5,436,170.07 in 2019[22] - The total investment amount for the reporting period was ¥81,036,800.00, reflecting a year-on-year increase of 4.59% from ¥77,480,600.00[65] - The company has ongoing projects with a total investment of ¥12,927,300.00 for a new production line, with 80% of the funding sourced from raised capital and internal funds[67] - The company has a remaining unused raised fund amount of 2,925.96 million RMB as of the end of the reporting period[73] - The company has invested RMB 120.64 million in the construction of a 300-ton fresh milk processing line, with RMB 29.26 million remaining as of December 31, 2020, due to delays caused by the COVID-19 pandemic[75] Risk Management and Compliance - The company faced uncertainties regarding its ability to continue as a going concern, as indicated in the audit report for the recent year[16] - The company has outlined risks including the impact of COVID-19 on operations and rising costs, emphasizing the importance of strict pandemic prevention measures[88] - The company has established a quality control system to mitigate food safety risks associated with its dairy and baked goods products[88] - The company has not engaged in any securities or derivative investments during the reporting period[71][72] - The company reported no non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[105] Environmental and Social Responsibility - The company emphasizes social responsibility, including shareholder protection and environmental management, integrated into daily operations[134] - The company has committed to environmental standards, with no exceedance of pollution discharge limits for SO2 and NOx emissions[146] - The company has established a wastewater treatment system that meets national discharge standards, with regular monitoring by local environmental authorities[148] - The company conducted 256 production days in 2020, ensuring consistent operational performance[152] - In 2020, the company donated nearly 1 million yuan worth of products to support local pandemic prevention efforts, demonstrating its commitment to social responsibility[139] Corporate Governance - The company has a clear governance structure in compliance with relevant laws and regulations, ensuring effective management and investor relations[191] - The company held its annual general meeting with a participation rate of 55.24% on May 21, 2020[193] - The audit committee convened 2 times to ensure the independence of the audit process and to review the company's periodic reports[196] - The company reported no significant internal control deficiencies during the reporting period[200] - The company has established a multi-tiered incentive system to attract and retain talented management and technical personnel[199]