ANLI(SZ:300218)2021-03-29 16:00Financial Performance - The company's operating revenue for 2020 was ¥1,546,585,123.28, a decrease of 8.75% compared to ¥1,694,838,904.59 in 2019[17] - The net profit attributable to shareholders for 2020 was ¥50,455,192.39, down 29.05% from ¥71,112,717.84 in the previous year[17] - The net profit after deducting non-recurring gains and losses was ¥35,538,961.43, a decrease of 10.06% compared to ¥39,515,408.46 in 2019[17] - The basic earnings per share for 2020 was ¥0.2325, reflecting a decline of 29.05% from ¥0.3277 in 2019[17] - The total profit for the period was 54.73 million CNY, down 27.15% year-on-year, with a net profit attributable to shareholders of 50.46 million CNY, a decrease of 29.05%[62] - The company's main product sales volume decreased by 9.17% year-on-year, but in the second half of the year, sales volume and revenue increased by 11% and 12% respectively compared to the same period last year[62] - The gross profit margin for the main product increased by 0.39 percentage points year-on-year, with a significant improvement of 1.59 percentage points in the second half compared to the same period last year[63] - The company's revenue from overseas assets includes 22.2962 million yuan from its Russian subsidiary and 140.1378 million yuan from its Vietnamese joint venture, with no significant impairment reported[45] Assets and Liabilities - The total assets at the end of 2020 amounted to ¥2,079,730,264.69, an increase of 1.56% from ¥2,047,857,914.78 at the end of 2019[17] - The net assets attributable to shareholders at the end of 2020 were ¥1,069,065,893.47, up 1.61% from ¥1,052,140,526.11 in 2019[17] - The company's accounts receivable financing increased by 51.04% to 32,431,511.02 yuan, attributed to expanded sales in the second half of the year[43] - The company's contract liabilities increased by 100.06% to 23,683,685.43 yuan, mainly due to the new revenue recognition standards and increased customer deposits[44] - The company's cash balance at the end of the period was CNY 386,410,652.08, a decrease from CNY 398,551,927.37 at the beginning of the period, resulting in a net decrease of CNY 12,141,275.29[95] - The total assets included cash and cash equivalents amounting to CNY 392,592,836.47, which accounted for 18.88% of total assets, down from 19.95% in the previous year[97] - Accounts receivable increased to CNY 161,866,239.46, representing 7.78% of total assets, up from 7.15%[97] - Inventory increased to CNY 342,859,148.59, accounting for 16.49% of total assets, compared to 15.42% previously[97] Operational Efficiency and Strategy - The company’s operational efficiency has improved through lean production management and cost optimization strategies, enhancing overall production capabilities[30] - The company is focusing on the development of water-based solvent-free polyurethane synthetic leather, which is expected to become a key driver for future growth[39] - The company aims to shift from quantity growth to quality improvement in response to market pressures and rising costs in the synthetic leather industry[37] - The company is actively developing new products and enhancing the proportion of high-end products to achieve a new balance between supply and demand[37] - The company has established a strong global marketing network, focusing on high-end markets in various sectors, including functional footwear, home furnishings, and automotive interiors[56] - The company is expanding its market presence, establishing partnerships with major brands such as PUMA, NIKE, and APPLE, and entering new markets like electric vehicles[66] Environmental Commitment - The company has invested over 200 million yuan in advanced environmental technology and equipment to promote the production of water-based, solvent-free polyurethane synthetic leather[54] - The company has received multiple environmental certifications, including ISO14001 and the "National Green Factory" designation, highlighting its commitment to environmental protection[137] - The company achieved a reduction of approximately 38 tons in nitrogen oxide emissions and 400 tons in COD emissions during the year[70] - The company has been recognized as a "Demonstration Enterprise of Clean Production" by the Anhui Provincial Economic and Information Technology Department[138] - The company has established a comprehensive environmental protection system, including automated systems for material handling and wastewater treatment[136] Risks and Challenges - The company faced risks including fluctuations in raw material prices and potential environmental compliance costs, which may impact future performance[6] - The company is exposed to risks from changes in export tax rebate policies, which have decreased from 17% to 13% in recent years, potentially affecting export revenues[132] - The company’s main raw materials account for over 60% of its main business costs, and fluctuations in raw material prices, particularly polyurethane resin and fabric, pose significant operational risks[134] - The company faces risks from exchange rate fluctuations, which could impact export sales prices and the cost of imported raw materials, and plans to mitigate these risks by increasing domestic market development[131] - The company faces risks related to the potential inability to digest production capacity due to market conditions and competition, especially amid the ongoing COVID-19 pandemic[141] Research and Development - The company invested 84.58 million CNY in R&D, focusing on the development of over 30 key products and improvements to more than 20 products[67] - The company maintains a stable number of R&D personnel at 385, which is 14.47% of the total workforce[90] - The company has 423 valid patents, including 92 invention patents, and has received recognition for its eco-friendly products[68] - The company emphasizes innovation and has been designated as a "National Key High-tech Enterprise," ensuring its technological leadership in the industry[49] Dividend Policy - The company plans to distribute a cash dividend of ¥1.1 per 10 shares, totaling approximately ¥23,868,000 based on 216,987,000 shares[6] - The cash dividend for 2020 represents 47.31% of the net profit attributable to ordinary shareholders, which was RMB 50,455,192.39[153] - The company has maintained a consistent cash dividend policy, ensuring that the distribution aligns with its profit distribution policy and relevant regulations[146] - The cash dividend distribution process was approved by the board and independent directors, ensuring compliance with corporate governance standards[147] Corporate Governance - The company has established a framework to ensure that its major decisions are made by the shareholders' meeting and board of directors without external interference[165] - The company has reiterated its commitment to protecting its assets and will not infringe upon the property rights of the company[165] - The company has fulfilled its commitments regarding fair transactions, adhering to market rules and general business principles[158] - The company has established a priority purchase right for its shares in subsidiaries, ensuring it can acquire any competing interests if necessary[163]