永兴材料(002756) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥4,973,126,242.49, an increase of 1.30% compared to the previous year[12]. - The net profit attributable to shareholders for 2020 was ¥257,996,978.72, a decrease of 24.91% year-on-year[12]. - The basic earnings per share for 2020 was ¥0.72, down 24.21% from ¥1.08 in 2019[12]. - The total assets at the end of 2020 were ¥5,361,512,338.96, reflecting an 18.04% increase from the previous year[12]. - The net cash flow from operating activities for 2020 was ¥549,000,414.88, an increase of 59.03% compared to 2019[12]. - The total operating revenue for 2020 was 497,312.62 million yuan, reflecting a year-on-year growth of 1.30%[48]. - The net profit attributable to shareholders was 25,799.70 million yuan, a year-on-year decrease of 24.91% due to asset impairment losses and high base effects from the previous year[48]. - The black metal smelting and rolling industry contributed ¥4.67 billion, accounting for 93.83% of total revenue, with a year-on-year decrease of 4.65%[50]. - Lithium mining and lithium salt manufacturing revenue surged to ¥307 million, representing 6.17% of total revenue, with a remarkable year-on-year increase of 1,873.28%[50]. Dividend Policy - The company reported a cash dividend of 3.1 yuan per 10 shares (including tax) to all shareholders, with no bonus shares issued[2]. - The cash dividend distribution policy states that at least 20% of the distributable profit should be allocated as cash dividends if there are no significant capital expenditures[107]. - The company emphasizes a stable and continuous profit distribution policy, prioritizing cash dividends while considering the long-term development and sustainability[107]. - The company has a three-year dividend return plan (2019-2021) that focuses on reasonable returns to investors and considers the opinions of minority shareholders[106]. - The company has not proposed any stock dividends for the 2020 fiscal year, focusing solely on cash dividends[111]. - The company's cash dividend total for 2020 accounted for 100% of the profit distribution total, indicating a strong commitment to shareholder returns[111]. Business Operations - The company has maintained its main business operations without any changes since its listing[9]. - The company focuses on new materials and lithium battery new energy materials, with production processes including mining, refining, and manufacturing[19]. - The company employs a "sales-driven production" model to provide customized services based on customer needs[20]. - The company has established a stable product supply chain targeting leading enterprises in the special steel new materials sector, effectively meeting customer needs and creating value[21]. - The company has signed long-term purchase agreements with some customers, ensuring stable pricing and supply cycles[23]. Market Position and Strategy - The company is recognized as a leading enterprise in the lithium extraction industry, with a complete lithium salt industrial chain and mature lithium extraction technology[26]. - The company’s market share in the domestic stainless steel long product sector remains among the top two, reflecting its strong industry position[25]. - The company has enhanced its core competitiveness through accelerated development of new products and markets in the special steel new materials business, leading to steady growth in production and sales[29]. - The company has over 200 steel grades and offers personalized production to meet diverse customer needs, resulting in increased customer satisfaction[30]. - The company is focusing on expanding its market presence and enhancing production capacity, particularly in the lithium carbonate sector, despite facing challenges with market prices[71]. Research and Development - The company has invested significantly in R&D, holding 88 patents related to stainless steel, including 25 invention patents, and has established various research platforms[31]. - The company’s R&D expenses amounted to ¥160,699,200.61, representing 3.23% of total revenue, a slight decrease of 1.04% compared to the previous year[61]. - The company successfully developed new products, including martensitic valve steel and nickel-based alloy valve steel, enhancing product quality and reducing production costs[61]. Environmental and Social Responsibility - The company has implemented a dual prevention mechanism for production safety, enhancing risk control and emergency response capabilities[149]. - The company donated approximately 2.25 million RMB in pandemic prevention materials and funds during the reporting period, reflecting its commitment to social responsibility[149]. - The company has invested in environmental protection facilities to ensure compliance with national and local standards, with no major environmental pollution incidents reported[154]. - The company utilizes clean energy natural gas for all heating furnaces, ensuring that pollutant discharge meets regulatory standards[155]. - The company has achieved a wastewater recycling rate of over 97% in its hot rolling process, minimizing environmental impact[154]. Corporate Governance - The company has established a special account for the raised funds, ensuring they are used in accordance with legal and regulatory standards[114]. - The company has committed to compensating investors for any losses caused by false statements in the prospectus[113]. - The company will continue to fulfill all commitments made during the issuance and listing process, accepting supervision from regulatory bodies and investors[113]. - The company has maintained a clean integrity status, with no significant debts or court judgments unfulfilled during the reporting period[127]. - The company has not experienced any penalties or rectification situations during the reporting period[126]. Future Outlook - The company aims to enhance production efficiency and achieve a profit growth target in the lithium battery new energy sector, with a focus on the annual production of 20,000 tons of battery-grade lithium carbonate[89]. - The company plans to accelerate the construction of its 20,000 tons battery-grade lithium carbonate project, with the first production line expected to be operational by Q3 2021[93]. - The company is committed to enhancing its operational efficiency and expanding its market presence in the lithium battery sector[105].