联泓新科(003022) - 2020 Q4 - 年度财报

Dividend and Profit Distribution - The company plans to distribute a cash dividend of 2 CNY per 10 shares to all shareholders, based on a total share capital of 1,027,360,000 shares [2]. - The company achieved a net profit attributable to shareholders of 640,608,573.40 yuan for 2020, with a profit distribution plan proposing a cash dividend of 2 yuan per 10 shares [103]. - The cash dividend total for 2020 is 205,472,000 yuan, representing 32.07% of the net profit attributable to shareholders [101]. - The company’s total distributable profit after legal surplus reserves is 1,087,119,609.97 yuan, ensuring sufficient funds for the proposed dividend [102]. Financial Performance - The company's operating revenue for 2020 was ¥5,931,360,208.63, representing a 4.53% increase compared to ¥5,674,492,427.06 in 2019 [13]. - The net profit attributable to shareholders for 2020 was ¥640,608,573.40, a 20.46% increase from ¥531,815,703.61 in 2019 [13]. - The net profit after deducting non-recurring gains and losses was ¥615,796,022.86, up 20.26% from ¥512,033,048.27 in 2019 [13]. - The total assets at the end of 2020 were ¥9,545,248,033.96, a 20.77% increase from ¥7,903,474,641.85 at the end of 2019 [14]. - The net assets attributable to shareholders increased by 70.78% to ¥5,447,076,606.27 from ¥3,189,579,238.33 at the end of 2019 [14]. - The company reported a basic earnings per share of ¥0.73 for 2020, up 21.67% from ¥0.60 in 2019 [13]. - The company's total assets at the end of the reporting period were CNY 954,524.80 million, with net assets attributable to shareholders of CNY 544,707.66 million, resulting in a debt-to-asset ratio of 41.93% [43]. Operational Efficiency and Production - The company maintained a leading operational efficiency, with key consumption indicators remaining at the forefront of the industry [38]. - EVA product output reached 131,300 tons with a capacity utilization rate of 108.49%, while PP production achieved 247,100 tons with a utilization rate of 104.81%, both showing a year-on-year increase of 3.61% [43]. - The company's production facilities achieved industry-leading economic and technical indicators, with methanol consumption per ton of olefin maintained at 2.757 tons [43]. - The company completed the OCC project in Q4 2020, resulting in a 10% reduction in methanol consumption compared to pre-production levels, significantly lowering production costs [96]. Research and Development - The company invested CNY 16,333.46 million in R&D, accounting for 2.75% of operating revenue, and filed 27 patent applications during the year [45]. - The company has applied for and obtained a total of 28 invention patents and 24 utility model patents, with 50 patents currently under application [24]. - Research and development expenses increased by 546.14% to ¥163,334,592.03 in 2020, compared to ¥25,278,326.28 in 2019 [67]. - The number of R&D personnel rose by 62.58% to 252, making up 24.11% of the total workforce [67]. - The company is focusing on high-end, differentiated, and refined new materials, with plans to develop biodegradable materials, new energy materials, and electronic chemical materials [90]. Market Presence and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years [178]. - The company plans to enter the European market in 2022, with an initial investment of 50 million [189]. - The company aims to improve operational efficiency by 15% through digital transformation initiatives [178]. - The company is exploring potential acquisitions to strengthen its supply chain, with a budget of 500 million yuan allocated for this purpose [178]. Risk Management and Compliance - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, which are subject to various uncertainties [2]. - The company recognizes risks from macroeconomic uncertainties, industry competition, raw material price fluctuations, and stringent environmental regulations, and is implementing strategies to mitigate these risks [94][95]. - The company reported no non-operating fund occupation by controlling shareholders or their affiliates during the reporting period [128]. - The company will comply with any new rules or requirements from the regulatory authority regarding stock reduction [114]. Corporate Governance and Shareholding - The controlling shareholder, 联泓集团, has pledged to hold its shares for three years from the date of listing, which is December 8, 2020 [107]. - The company has established a lock-up period of 12 months for certain shareholders, during which they cannot transfer their shares [108]. - The company does not have a single actual controller due to the balanced distribution of shares among major shareholders [168]. - The company has made a commitment to strictly follow the regulations set by the China Securities Regulatory Commission and the stock exchange regarding shareholding and reduction [113]. Community Engagement and Sustainability - The company donated over 1.2 million yuan for pandemic prevention efforts, including contributions to local charities and providing masks to overseas partners [146]. - The company achieved a zero-accident safety goal during the reporting period, enhancing safety management through comprehensive training and risk control measures [145]. - The board of directors emphasized the importance of sustainability in future strategies, aiming for a 25% reduction in carbon emissions by 2025 [178]. - The company has not exceeded any pollution discharge standards, with specific emissions such as COD at 106.33 mg/L, well below the 500 mg/L limit [150].