TMMT(SZ:300334)2021-04-21 16:00Financial Performance - In 2020, the company reported a net loss of RMB 84,211,433.37, primarily due to the continued decline in operations of the acquired Gansu Jinqiao Water Technology Group Co., Ltd., leading to a goodwill impairment of RMB 35,789,500[6]. - The company's operating revenue for 2020 was RMB 502,520,000, a decrease of 2.68% compared to the previous year, while the net profit attributable to shareholders was a loss of RMB 87,470,000, an increase of 89.5% in losses year-on-year[6]. - The company reported a net profit attributable to ordinary shareholders of 87,472,161.51 CNY for 2020, a significant improvement compared to a loss of 833,095,593.05 CNY in 2019[100]. - The company reported a net loss of ¥87,472,161.51 for the year 2020, with no cash dividends distributed, resulting in a cash dividend ratio of 0.00%[96]. - The total profit for 2020 was -82.83 million yuan, an increase of 89.94% year-on-year, indicating a significant reduction in losses[41]. - The net cash flow from operating activities increased by 27.20% to ¥158,270,237.94 from ¥124,423,838.09 in 2019[23]. - The company reported a weighted average return on equity of -11.13%, an improvement of 54.84% from -65.97% in 2019[23]. - The company generated a total operating revenue of ¥202,249,868.69 in Q4 2020, the highest quarterly revenue for the year[25]. Revenue and Sales - The company's operating revenue for 2020 was ¥502,523,635.86, a decrease of 2.68% compared to ¥516,341,745.16 in 2019[23]. - Revenue from membrane engineering was CNY 202,998,011.55, accounting for 40.40% of total revenue, down 7.43% year-on-year[46]. - Revenue from membrane products increased by 4.08% to CNY 168,263,960.60, representing 33.48% of total revenue[46]. - The total sales amount from the top five customers was CNY 176,992,792.37, accounting for 35.23% of total annual sales[55]. - Domestic revenue accounted for 99.68% of total revenue, while overseas revenue dropped significantly by 83.94% to CNY 1,620,869.18[46]. Research and Development - The company is focused on the research, development, and sales of ultrafiltration and microfiltration membranes, providing comprehensive solutions for water resource management[32]. - The company has developed hundreds of patents and non-patent technologies, achieving domestic leadership and international advanced levels in its main products, including ultrafiltration and microfiltration membranes[9]. - The company's R&D investment in 2020 amounted to approximately CNY 40.28 million, accounting for 8.02% of its operating revenue, a decrease from 12.63% in 2019[63]. - The company has applied for 59 patents, including 27 invention patents, to protect its core technologies and enhance its competitive edge in the market[61]. - The company plans to strengthen R&D investments through market-oriented collaborations, continuously launching new products and processes to maintain its competitive edge[92]. Operational Strategies - The company plans to enhance its core technology advantages and improve product quality in 2021, aiming for significant growth in sales channels for its main products[7]. - The company faces risks from increased competition in the membrane products market, necessitating adjustments in operational strategies to maintain its competitive edge[8]. - The company has initiated a special effort to recover previously formed accounts receivable and project inventory, employing measures such as sending letters, on-site collections, and legal actions[7]. - The company intends to optimize its asset structure by focusing on advantageous product series and gradually increasing investments in operational fixed assets[92]. - The company aims to enhance its marketing system and increase membrane product sales, focusing on "excellent products + ecological cooperation system" as its development strategy[92]. Legal and Compliance Issues - The company is involved in ongoing litigation related to a contract dispute with Ordos City Urban Water Co., Ltd.[143]. - The company has initiated legal proceedings against Jiangsu Mountain Spring Membrane Environmental Engineering Co., Ltd. due to a loan dispute and has won the case[144]. - The company is actively pursuing the execution of a court ruling regarding debts owed by Jiangsu Mountain Spring Membrane[144]. - The company has reserved the right to appeal a recent court decision that was unfavorable to its interests[143]. - The company has not faced any significant legal or regulatory violations since its establishment, maintaining compliance with relevant laws[122]. Environmental Compliance - The company conducts quarterly monitoring of air pollutants and monthly testing of various water quality indicators, ensuring compliance with environmental regulations[175]. - The company has received multiple environmental impact assessment approvals, indicating compliance with environmental regulations[173]. - The company has established an emergency response plan for environmental incidents, which was filed with the local environmental supervision authority[173]. - The company has reported no exceedances in pollutant discharge limits, demonstrating effective pollution control measures[171]. - The company’s wastewater treatment facilities are currently operating stably and meeting discharge standards[172]. Corporate Governance - The company has established a sound corporate governance structure in compliance with relevant laws and regulations prior to the restructuring[102]. - The actual controller and shareholders have fulfilled their commitments during the reporting period, ensuring the independence of the company in business, assets, finance, personnel, and organization[101]. - The company has committed to avoiding any business activities that may compete with its main operations, ensuring no conflicts of interest arise[121]. - The company has pledged to transfer any relevant intellectual property or technology developed during research projects to its subsidiaries for commercialization[106]. - The company guarantees that it will not engage in related party transactions that could harm the interests of its subsidiaries or shareholders[107].