Comens Materials(SZ:300200)2021-04-13 16:00Financial Performance - The company's operating revenue for 2020 was approximately ¥959.68 million, a slight decrease of 0.05% compared to ¥960.11 million in 2019[28]. - The net profit attributable to shareholders for 2020 increased by 25.10% to approximately ¥232.58 million, up from ¥185.91 million in 2019[28]. - The net profit after deducting non-recurring gains and losses was approximately ¥228.01 million, reflecting a growth of 28.93% compared to ¥176.85 million in the previous year[28]. - The basic earnings per share for 2020 was ¥0.55, representing a 25.00% increase from ¥0.44 in 2019[28]. - The total assets of the company at the end of 2020 were approximately ¥2.07 billion, an increase of 9.35% from ¥1.90 billion at the end of 2019[28]. - The net assets attributable to shareholders at the end of 2020 were approximately ¥1.78 billion, up 7.71% from ¥1.65 billion at the end of 2019[28]. - The net cash flow from operating activities for 2020 was approximately ¥265.48 million, a decrease of 13.85% compared to ¥308.15 million in 2019[28]. - The company reported quarterly revenues of ¥183.40 million, ¥237.03 million, ¥254.39 million, and ¥284.86 million for Q1, Q2, Q3, and Q4 respectively in 2020[30]. - The weighted average return on equity for 2020 was 13.46%, an increase of 1.70% from 11.76% in 2019[28]. - The company reported a total non-operating income of CNY 4,564,565.79 in 2020, a decrease of 49.5% from CNY 9,065,469.00 in 2019[34]. Market and Competition - The polyurethane adhesive market remains competitive, with increasing pressure from new entrants and established multinational companies, necessitating a focus on solvent-free product development and market promotion[11]. - The company is facing risks related to operational management as it expands its business, which may complicate decision-making and risk control processes[10]. - The company acknowledges the systemic and non-systemic risks associated with stock market fluctuations and is focused on delivering value to shareholders[13]. - The company is actively developing environmentally friendly products in the construction and energy-saving sectors, responding to increasing market demand[57]. - The automotive adhesive market has seen the introduction of targeted high-end products, achieving mass application and significant market penetration[48]. Research and Development - The company emphasizes the importance of technological innovation in adhesive products, aiming to enhance safety and environmental standards to maintain competitive advantage in the market[9]. - The company has focused on high-performance polyurethane adhesive materials since its establishment in 1999, offering over 100 products across various applications including packaging and transportation[36]. - The company increased its R&D investment, introducing solvent-free and high-solid functional adhesive products to enhance competitiveness[42]. - R&D investment amounted to CNY 52.75 million, representing 5.50% of operating revenue, with 66 R&D personnel, 39.39% of whom hold master's degrees or higher[67]. - The company has applied for 171 invention patents, with 132 granted and 39 accepted, and 42 utility model patents, with 32 granted[67]. Operational Efficiency and Risk Management - The company is committed to improving operational efficiency and risk management as it adapts to changes in its organizational structure[10]. - The company is closely monitoring external economic conditions and adjusting strategies to mitigate risks associated with macroeconomic uncertainties and policy changes[14]. - The company has implemented a robust credit control system and enhanced its information technology infrastructure to improve operational efficiency[80]. - The company is focused on replacing imported brands with its own products, aiming to rapidly increase market share in the coming period[82]. - The company is aware of stock market risks influenced by various external factors, emphasizing the importance of maintaining strong operational performance[135]. Profit Distribution and Shareholder Returns - The company plans to distribute a cash dividend of 3 RMB per 10 shares (including tax) based on a total of 425,524,433 shares, with no bonus shares issued[16]. - The company has a profit distribution policy prioritizing cash dividends to ensure reasonable returns for investors, particularly small shareholders[141]. - The total distributable profit for the company as of December 31, 2020, is RMB 216,157,911.24, after accounting for a legal surplus reserve of RMB 16,793,818.34[148]. - The company’s profit distribution plan for 2020 was approved by the board and will be submitted to the shareholders' meeting for final approval[148]. - In 2020, the cash dividend amount was approximately 127.66 million, representing 54.89% of the net profit attributable to ordinary shareholders[152]. Environmental and Social Responsibility - The company is committed to developing environmentally friendly products and production processes, focusing on low VOC emissions and renewable materials[196]. - The company donated a total of 466,100 CNY in medical supplies during the COVID-19 pandemic, significantly reducing the risk of infection for healthcare workers[197]. - The company has signed labor contracts with all employees and provides comprehensive social insurance, ensuring employee rights are protected[193]. - The company established a food safety department to enhance product quality control, ensuring compliance with national quality standards in food and pharmaceutical packaging[195]. - The company has fulfilled its social responsibilities in various aspects, including shareholder rights, employee rights, and environmental safety[189].