Sinomine(SZ:002738)2021-08-02 16:00Financial Performance - The company's operating revenue for 2020 was ¥1,275,709,822.53, representing a 9.51% increase compared to ¥1,164,933,484.85 in 2019[13]. - The net profit attributable to shareholders for 2020 was ¥174,262,749.51, a 24.44% increase from ¥140,040,237.21 in 2019[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥151,979,789.32, up 24.49% from ¥122,078,087.63 in 2019[13]. - The company's total assets at the end of 2020 were ¥4,919,946,732.46, a 20.13% increase from ¥4,095,560,486.40 at the end of 2019[14]. - The net assets attributable to shareholders at the end of 2020 were ¥3,166,105,697.29, reflecting a 17.15% increase from ¥2,702,545,865.03 at the end of 2019[14]. - The basic earnings per share for 2020 was ¥0.6265, a 20.34% increase from ¥0.5206 in 2019[14]. - The company reported a net cash flow from operating activities of ¥232,263,311.41 in 2020, a decrease of 7.13% from ¥250,081,933.01 in 2019[13]. - The company achieved a total operating revenue of 1,275,709,822.53 CNY, representing a year-on-year growth of 9.51%[56]. - The net profit attributable to shareholders reached 17,426.27 million CNY, an increase of 24.44% compared to the previous year[56]. Dividend Policy - The company reported a profit distribution plan for 2020, proposing a cash dividend of 0.00 CNY per 10 shares, with no bonus shares issued[3]. - In 2020, the company distributed cash dividends of 0.50 yuan per 10 shares, totaling 15,319,421.40 yuan, which represents 8.79% of the net profit attributable to ordinary shareholders[104]. - The cash dividend policy has been consistently executed over the past three years, with cash dividends of 0.50 yuan per 10 shares in 2018, 2019, and 2020[102]. - The cash dividend distribution plan must be approved by at least two-thirds of the voting rights at the shareholders' meeting if there are adjustments to the profit distribution policy[101]. - The company has committed to not distributing any stock dividends or increasing capital reserves for the year 2020[106]. - The cumulative net profit targets for the years ending December 31, 2018, 2019, and 2020 are set at no less than CNY 160 million, CNY 340 million, and CNY 540 million respectively[108]. Business Expansion and Acquisitions - The company acquired Dongpeng New Materials in 2018 and Cabot Specialty Fluids Division in 2019, expanding its business to include the R&D, production, and sales of rare light metal raw materials such as lithium salt, cesium salt, and rubidium salt[9]. - The company has committed to invest a total of RMB 77,800 million in the acquisition of Cabot's special fluids division, with an actual investment of RMB 77,917.45 million, achieving an investment progress of 100.15%[86]. - The company has established a wholly-owned subsidiary, Beijing Zhongmin Resource Geological Exploration Co., Ltd., with a registered capital of CNY 30 million, which was included in the consolidated financial statements from its establishment on June 8, 2020[115]. Market Position and Product Development - The company is the world's largest producer and supplier of cesium and rubidium products, with a complete cesium industry chain[21]. - The company is a major producer of battery-grade lithium fluoride, an important raw material for lithium-ion batteries, utilizing a patented production process[25]. - The company has developed a high-purity rubidium salt production process, which has received a patent, enhancing its product offerings in the rubidium market[23]. - The company has an annual production capacity of 3,000 tons of battery-grade lithium fluoride, which has gained a high reputation in the market and successfully entered Tesla's supply chain[27]. - The company has an annual production capacity of 6,000 tons of battery-grade lithium carbonate, which is produced through an improved carbonization and purification process[27]. - The company is focused on expanding its cesium formate application in the domestic oil and gas sector due to increasing environmental awareness and policy enforcement[29]. - The company is positioned to expand its cesium and rubidium salt products into various sectors, including medical, aerospace, and energy efficiency, supported by national policies[91]. Research and Development - The company holds a total of 129 technology patents, including 12 domestic invention patents and 109 foreign patents, showcasing its strong R&D capabilities in lithium and cesium production processes[43]. - The company has developed advanced drilling technologies and holds 29 technical patents, positioning it as a leader in overseas geological exploration[47]. - The company has implemented a scientific compensation and performance management system for its employees[185]. Environmental Responsibility - The company has committed to social responsibility, including employee welfare and environmental protection initiatives[135]. - The company operates seven exhaust gas purification towers, ensuring emissions meet standards for SO2 and nitrogen oxides[141]. - The company has a solid waste temporary storage area of 720 m² and a hazardous waste temporary warehouse of 132 m²[141]. - The company has not experienced any environmental pollution incidents to date, adhering strictly to national environmental laws and regulations[141]. - The company has implemented an environmental monitoring plan to ensure compliance with pollution discharge standards[143]. Corporate Governance - The company has a complete and independent financial management system, with no interference from the controlling shareholder[192]. - The independent directors did not raise any objections to company matters during the reporting period[196]. - The independent directors' suggestions were adopted by the company, indicating effective governance practices[198]. - The company has established a comprehensive performance evaluation system for senior management, linking compensation to performance[200]. Employee Information - The total number of employees in the company is 1,081, with 739 in production, 159 in technical roles, and 33 in sales[183]. - The company has a total of 63 employees with a master's degree or higher, and 157 with a bachelor's degree[184]. - The total remuneration for the chairman and president, Wang Pingwei, was 929,000 RMB[181]. - The total remuneration for the vice chairman, Sun Meichun, was 2,188,900 RMB[181]. - The total remuneration for the vice president and CFO, Xiao Xiaoxia, was 678,000 RMB[181].