WBD(SZ:300055)2021-04-27 16:00Financial Performance - The company reported a net profit of 66.94 million yuan for 2020, which was impacted by a total reduction of 443.23 million yuan due to impairment losses related to a debt restructuring agreement with the Ulanqab government[4]. - The company recognized an impairment loss of 498.19 million yuan in 2020, primarily due to the aforementioned debt restructuring[4]. - The company's operating revenue for 2020 was ¥631,016,328.88, a decrease of 24.89% compared to ¥840,125,824.51 in 2019[17]. - The net profit attributable to shareholders was -¥375,002,457.65, representing a decline of 602.57% from ¥74,617,232.42 in the previous year[17]. - The company reported a basic earnings per share of -¥0.4334, a decrease of 602.78% compared to ¥0.0862 in 2019[17]. - The company’s net profit after deducting non-recurring gains and losses was -¥380,050,209.58, a decline of 620.19% from ¥73,059,847.69 in 2019[17]. - The company’s weighted average return on equity was -6.77%, down from 1.31% in the previous year[17]. - The total revenue for the year 2020 was 479,488,698.46 CNY, with the top five customers accounting for 75.99% of total sales[69]. - The company reported a net profit of -375 million for 2020, with a cash dividend proposal of 0.15 RMB per 10 shares, pending shareholder approval[128]. - The total cash dividend amount for 2020 is projected to be 12,098,178.90 RMB, representing 100% of the distributable profit[124]. Operational Highlights - The company’s financial report has been confirmed as true, accurate, and complete by its board of directors and senior management[3]. - The company has not reported any significant changes in production capacity or technological obsolescence[4]. - The company engaged in the acquisition of a 16% stake in Huizhou Isco, increasing its ownership to 61%[30]. - The company is focused on expanding its environmental services, including water treatment and hazardous waste management, to enhance its market position[27]. - The company established a joint venture with Shenyang Huijue Technology Co., Ltd. and Shenling, with a registered capital of RMB 10 million, focusing on technology research and development for environmental resource utilization[32]. - The company aims to enhance its core business in wastewater treatment, hazardous waste treatment, and new material production, forming a strategic business layout[38]. - The company is focusing on technological research in industrial wastewater treatment and has made progress in various new technologies and products[39]. - The company has optimized its asset structure through equity transfer and debt restructuring of the Ulanqab PPP project, improving overall asset management[40]. - The company is committed to a stable cash flow in its operations, particularly in the water treatment and hazardous waste sectors[40]. Risk Management and Compliance - The company has outlined potential risks and countermeasures in its future development outlook section of the report[5]. - The company emphasizes that its ability to continue as a going concern is not at significant risk, despite the financial challenges faced in 2020[4]. - The company has committed to comply with the Shenzhen Stock Exchange's disclosure requirements for companies engaged in energy-saving and environmental protection services[4]. - The company will implement a comprehensive risk management system to address environmental, production safety, and financial risks[111]. - The company has established a comprehensive internal control management system over its 20 years of development, which will support its expanded operations[116]. Research and Development - The company holds a total of 139 authorized patents, including 36 invention patents, indicating a strong focus on innovation[73]. - The company is actively developing multiple R&D projects in various fields, including wastewater treatment technologies and resin processing techniques[73]. - The company’s R&D investment in 2020 amounted to ¥15,437,917.22, representing 2.45% of total revenue, a decrease from 3.33% in 2019[74]. - The number of R&D personnel increased to 20, accounting for 18.52% of the workforce, up from 14.38% in 2019[74]. - The company has developed a complete technology system for zero discharge of industrial wastewater, achieving over 99.5% removal rate of main pollutants in the treatment of acrylonitrile wastewater[51]. Environmental and Social Responsibility - The company has actively participated in the disposal of medical waste during the COVID-19 pandemic, ensuring the normal operation and compliance of pollution prevention facilities[172]. - The company has implemented advanced pollution control measures for hazardous waste incineration, including a combination of rotary kiln and secondary combustion chamber technology[177]. - The company has established a comprehensive air pollution control system, achieving a sulfur dioxide emission concentration of 49.5642 mg/m³, which is compliant with the national standard[175]. - The company has a nitrogen oxide emission of 97.8976 mg/m³, adhering to the pollution discharge standards[175]. - The company is focusing on ecological environment protection, emphasizing the importance of green and low-carbon development[171]. Strategic Initiatives - The company plans to enhance its "comprehensive environmental protection platform" through the adjusted fundraising allocations, aiming to improve overall profitability[94]. - The company aims to enhance its business capabilities by integrating industrial water treatment with hazardous waste management, providing comprehensive services to energy enterprises and industrial parks[104]. - The company will strengthen its market development capabilities in 2021, aiming to improve project selection and increase the proportion of high-quality projects[108]. - The company plans to improve its human resource management system to build a talent pipeline and optimize personnel structure[114]. - The company aims to increase the efficiency of existing assets and improve the management of idle and low-efficiency assets to enhance overall profitability[113]. Financial Management - The company has strengthened its financial management, recovering approximately 1 billion yuan from the Ulanqab PPP project debt restructuring and 528 million yuan from early recovery of entrusted loans[48]. - The company reported a significant increase in product sales revenue by 111.01% to ¥133,090,944.75[60]. - The company has a total of CNY 326,630 in guarantees provided to shareholders and related parties[159]. - The company has no significant litigation or arbitration matters that would impact its financial status[144]. - The company has no high-risk entrusted loans or wealth management situations that could lead to potential losses during the reporting period[166].