绿康生化(002868) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥308,145,259.54, representing a 1.44% increase compared to ¥303,759,977.46 in 2019[18]. - The net profit attributable to shareholders for 2020 was ¥43,208,315.92, a decrease of 24.15% from ¥56,966,032.34 in 2019[18]. - The basic earnings per share for 2020 was ¥0.28, down 24.32% from ¥0.37 in 2019[18]. - The overall gross profit margin for 2020 was 30.35%, a decrease of 2.91 percentage points compared to the previous year[45]. - The company reported non-operating income of ¥13,223,142.10 in 2020, down from ¥21,486,880.79 in 2019[23]. - The revenue from the veterinary medicine segment decreased by 8.87% to ¥245,077,749.01, accounting for 79.53% of total revenue[58]. - The food additive segment saw a significant increase in revenue by 116.75%, reaching ¥28,875,371.31, up from ¥13,322,217.02 in 2019[58]. Cash Dividends - The company reported a cash dividend of 1.4 yuan per 10 shares (including tax) for a total of 153,404,330 shares after deducting the repurchased shares[5]. - For the 2020 fiscal year, the company plans to distribute a cash dividend of RMB 1.4 per 10 shares, amounting to RMB 21.48 million, with a total cash dividend including other methods reaching RMB 53.90 million[115]. - The cash dividend for 2020 represents 49.70% of the net profit attributable to ordinary shareholders[114]. - The cash dividend payout ratio for 2020 is 100% of the total distributable profit[115]. - The total cash dividends distributed over the past three years have shown a consistent increase, with 2020's total cash dividends being the highest at RMB 53.90 million[114]. Assets and Liabilities - Total assets at the end of 2020 were ¥972,502,779.28, a decrease of 3.72% from ¥1,010,052,912.03 at the end of 2019[18]. - Cash and cash equivalents rose from CNY 114,313,030.64 to CNY 194,264,741.47, an increase of 69.94%, mainly due to the maturity of financial products[35]. - Accounts receivable decreased to ¥30,469,248.05, representing 3.13% of total assets, down from 4.85% in the previous year[76]. - Inventory increased to ¥53,527,140.34, accounting for 5.50% of total assets, up from 4.94% year-on-year[76]. - Long-term equity investments stood at ¥56,669,473.21, which is 5.83% of total assets, slightly up from 5.69%[76]. Research and Development - The company has accumulated 14 invention patents and 15 utility model patents by the end of 2020, showcasing its strong focus on technological innovation[37]. - Research and development expenses amounted to 19,913,133.94 CNY, representing 6.46% of the company's total revenue, an increase of 7.35% from the previous year[69]. - The number of R&D personnel increased by 6.35% to 67, although the proportion of R&D staff relative to total employees decreased slightly to 10.21%[70]. Market and Industry Trends - The veterinary medicine industry is shifting towards safer, more effective products with lower residues, driven by increasing food safety concerns globally[29]. - The global population is projected to grow from over 7 billion to 8.5 billion by 2030 and 9.7 billion by 2050, driving demand for meat, egg, and dairy products, which supports the growth of the livestock and feed industries[30]. - The global biopesticide market was valued at USD 3.3 billion in 2017 and is expected to reach USD 9.5 billion by 2025, with a compound annual growth rate (CAGR) of 15% to 18%[32]. Corporate Governance and Compliance - The company emphasizes the importance of accurate and complete financial reporting, with key executives affirming the integrity of the annual report[3][4]. - The company has committed to fulfilling its obligations regarding shareholder returns and has not engaged in any actions that would harm shareholder interests[124]. - The company has established a commitment to avoid any actions that could harm the interests of other shareholders[120]. Environmental and Social Responsibility - The company has a pollution discharge standard compliance with a chemical oxygen demand (COD) concentration of 22.14 mg/L, well below the limit of 60 mg/L[165]. - The company established a charity fund to support 19 impoverished families with a total donation of CNY 38,400 in 2020[161]. - The company invested CNY 1.2 million to cover four years of living expenses for the children of deceased employees[161]. Strategic Initiatives - The company aims to adjust its product structure and actively explore domestic and international markets in response to national strategies and policy directions[33]. - The company plans to enhance its product registration and approval processes in response to domestic regulatory changes, focusing on transitioning existing products to comply with new standards[101]. - The company is planning to expand its market presence through strategic partnerships and acquisitions in the upcoming fiscal year[156].