联创股份(300343) - 2020 Q4 - 年度财报

Financial Performance - The net profit attributable to the listed company for 2020 was -87.38 million yuan, with earnings per share of -0.08 yuan/share, primarily due to losses in the digital marketing business and the impact of the pandemic on the chemical business [5]. - The company's operating revenue for 2020 was ¥1,738,388,036.48, a decrease of 50.53% compared to ¥3,513,747,937.12 in 2019 [22]. - The net profit attributable to shareholders for 2020 was -¥87,383,232.67, an improvement of 94.07% from -¥1,473,977,838.09 in 2019 [22]. - The net cash flow from operating activities was ¥71,043,020.25, down 37.30% from ¥113,309,083.24 in 2019 [22]. - The total assets at the end of 2020 were ¥2,173,743,079.16, a decrease of 33.86% from ¥3,286,654,453.34 at the end of 2019 [22]. - The company reported a basic earnings per share of -¥0.080 for 2020, a significant improvement from -¥1.27 in 2019, reflecting a 93.70% increase [22]. - The company achieved a quarterly operating revenue of ¥528,565,418.90 in Q2 2020, the highest among the four quarters [25]. - The company recorded a net profit attributable to shareholders of ¥80,069,833.24 in Q3 2020, marking a positive turnaround [25]. - The company reported a significant decrease in accounts receivable, down 91.80% to 12,930.18 million from 157,738.11 million in 2019, primarily due to the divestiture of the digital marketing business [42][43]. - The company experienced a 50.53% decline in operating costs, totaling 161,709.53 million in 2020 compared to 313,187.04 million in 2019 [51]. - The investment income surged by 3,585.21% to 12,544.83 million in 2020, up from 340.41 million in 2019, attributed to the divestiture of the digital marketing business [51][56]. - The company achieved a total revenue of 1.738 billion yuan in 2020, with chemical new materials contributing 1.070 billion yuan (61.53%) and digital marketing contributing 668 million yuan (38.47%) [73]. - The net profit for 2020 was -96.03 million yuan, with a profit from continuing operations of 469,450 yuan and a loss from discontinued operations of -100.73 million yuan [73]. - The company reported a non-recurring loss of 87.38 million yuan attributable to the parent company, with earnings per share at -0.08 yuan [73]. Business Operations - The digital marketing business will no longer be included in the consolidated financial statements starting from 2021, as it was sold during the year [5]. - The chemical business achieved only a slight profit for the year due to the pandemic's impact [5]. - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves [7]. - The company maintains that its operational fundamentals have not undergone significant changes, and there are no major risks to its ongoing viability [6]. - The company has initiated multiple new projects in the chemical sector, including biodegradable plastics and new foaming agents, indicating a strategic shift back to its core business [47][48]. - The company has established a full-chain R&D team for polyurethane new materials, enhancing its competitive advantage in various industries [66]. - The company has maintained long-term cooperation with major air conditioning manufacturers, contributing to a stable customer base [67]. - The company is focusing on expanding its product range with new projects aimed at improving safety and reducing costs in production processes [108]. - The company aims to enhance its market presence and brand influence through innovative product development and strategic adjustments [111]. - The company is actively pursuing new product development and technological advancements to drive future growth [143]. Research and Development - The company plans to enhance product R&D capabilities and expand export business in the polyurethane sector, aiming to improve product quality and performance [36]. - The company has developed new environmentally friendly refrigerants, achieving international product quality standards and breaking foreign technology monopolies [36]. - The company emphasizes product research and development, with a rich product line and stable quality to meet market demands [86]. - Research and development expenses amounted to CNY 41,129,606.85 in 2020, representing 2.37% of total revenue, an increase from 1.59% in 2019 [117]. - The number of R&D personnel increased to 203 in 2020, accounting for 33.72% of the total workforce, up from 4.02% in 2019 [117]. - The company has established a new materials R&D center and plans to enhance collaboration with renowned institutions to drive innovation [157]. Strategic Changes - The company sold 100% equity of Shanghai Jichuang Advertising Co., Ltd. for ¥17,750,000, which is expected to optimize company operations [137]. - The purpose of the asset sale is to optimize the company's industrial structure and reduce losses from underperforming assets [140]. - The company aims to concentrate resources to accelerate business expansion, aligning with its operational and strategic development needs [143]. - The company plans to enhance its market presence through strategic asset disposals and acquisitions [143]. - The company sold several loss-making subsidiaries in the internet sector, which had a positive impact on overall performance [150]. - The company is focusing on the research, production, and sales of new materials, particularly fluorine-containing materials [147]. - The company has identified the need to protect the long-term interests of shareholders through strategic asset management [143]. Financial Management - The company has not distributed any cash dividends during the reporting period, maintaining a focus on reinvestment [171]. - The company has not issued any cash dividends in the last three years, indicating a focus on retaining earnings for potential reinvestment [172]. - The total cash dividend amount for the years 2018, 2019, and 2020 was CNY 0.00, reflecting a strategy of reinvestment rather than shareholder returns [172]. - The company has committed to not transferring shares acquired through cash transactions for 12 months post-transaction, with a gradual unlocking of shares thereafter [175]. - The company has made commitments to avoid direct or indirect competition with its subsidiaries and to ensure independent operations from controlling shareholders [178]. - The company has pledged to conduct related party transactions at fair market prices and to comply with relevant laws and regulations [187]. - The company has outlined a commitment to maintain independence in its management and operations, ensuring no overlap with controlling shareholders [181]. - The company has established a long-term commitment to minimize related party transactions and ensure they are conducted at arm's length [188]. Market Challenges - The company faces risks related to market fluctuations, environmental regulations, and technological challenges in the commercialization of innovative products [164][166]. - The company is closely monitoring policy changes that may impact its operations and is prepared to adjust its business strategies accordingly [161].