Forbon(SZ:300387)2021-04-26 16:00Financial Performance - The company reported a total revenue of 290,683,018 RMB for the year 2020, with a cash dividend of 0.5 RMB per 10 shares distributed to shareholders [4]. - The company's total revenue for 2020 was ¥645,426,216.14, representing a year-on-year increase of 10.89% compared to ¥582,026,992.12 in 2019 [17]. - The net profit attributable to shareholders for 2020 was ¥69,184,965.14, up 13.59% from ¥60,908,060.59 in 2019 [17]. - The net profit after deducting non-recurring gains and losses was ¥66,174,773.61, a significant increase of 30.44% from ¥50,730,490.86 in 2019 [17]. - The operating cash flow for 2020 was ¥100,802,739.67, reflecting a 16.86% increase from ¥86,258,498.77 in 2019 [17]. - The total assets at the end of 2020 were ¥1,736,133,043.14, an increase of 14.62% from ¥1,514,657,796.75 at the end of 2019 [17]. - The net assets attributable to shareholders at the end of 2020 were ¥1,230,420,905.69, up 4.40% from ¥1,178,527,640.64 at the end of 2019 [17]. - The company achieved a revenue of ¥645,426,216.14 in 2020, representing a year-on-year growth of 10.89% [72]. - The net profit attributable to shareholders was ¥69,184,965.14, reflecting a year-on-year increase of 13.59% [72]. Market Expansion and Product Development - The company plans to expand its market presence through new product development, including the SoilOptix soil scanning vehicle and the Tevel fruit-picking drone, which utilize advanced technologies [10]. - The company is focused on developing intelligent fertilization machines and digital soil mapping technologies to enhance agricultural efficiency [10]. - The company aims to enhance its digital agriculture business by leveraging technologies such as soil big data and IoT devices to optimize agricultural production factors [26]. - The company has established stable partnerships with over 300 large fertilizer enterprises globally, enhancing its market presence in East Asia, Southeast Asia, Europe, North Africa, and South America [27]. - The company is actively developing new fertilizers and soil improvement agents, focusing on customized fertilizers that combine biological stimulants and trace elements with traditional fertilizers [31]. - The company has established partnerships with various agricultural cooperatives and companies to enhance its distribution channels and agricultural technology services, aiming for joint ventures to meet market demands [31]. - The company is actively expanding its digital agriculture services, having introduced advanced agricultural digital equipment to enhance overall planting efficiency [55]. - The company is focusing on the integration of modern biotechnology with specialty fertilizers, continuously researching microbial and algae extracts [31]. Research and Development - R&D investment for the year reached 21.99 million yuan, reflecting a year-on-year growth of 19.14% [61]. - The company holds 164 domestic authorized patents and 5 foreign authorized patents, enhancing its intellectual property protection in the fertilizer additive sector [62]. - The company has established a comprehensive R&D platform with centers in China and the Netherlands, focusing on innovative agricultural solutions [61]. - The company has achieved 10 major technological advancements recognized as internationally advanced and has filled 14 industry standard gaps [60]. - The company has made significant advancements in digital agriculture, including soil testing, smart irrigation decision-making, and crop yield estimation services [68]. - The company is investing in digital agriculture, establishing partnerships for research and development, including the Beijing Soil Big Data Research Institute and the JD Digital Agriculture Research Center in Wuhan [156]. Financial Management and Governance - The company has a commitment to transparency, with its annual report published in multiple financial media outlets [15]. - The company has established a PSC comprehensive service model, which customizes products based on client needs and provides long-term technical services, enhancing cooperation with large fertilizer producers [43]. - The company has implemented Oracle cloud services to improve management efficiency and reduce operational costs, enhancing overall productivity [69]. - The company is enhancing its internal governance and control processes to ensure sustainable development and protect the interests of minority shareholders [153]. - The company is committed to improving its digital governance level and establishing a decision-making system supported by big data [152]. - The company has maintained a strong focus on corporate governance, ensuring compliance with legal standards and enhancing investor relations through multiple communication channels [81]. Challenges and Risks - The company emphasizes the importance of risk awareness in its forward-looking statements, indicating no significant operational risks during the reporting period [4]. - The company faced risks from abnormal fluctuations in raw material prices, particularly in oil and surfactants, which could impact production and profitability if not managed effectively [160]. - Accounts receivable remained high due to business expansion, posing risks of delayed collections and potential bad debts, which could affect cash flow and profitability [161]. - The company is actively managing risks associated with the ongoing global pandemic, ensuring employee health and maintaining supply chain stability [155]. Cash Flow and Dividends - Cash and cash equivalents at the end of the reporting period reached 367.73 million yuan, an increase of 56.48% year-on-year, primarily due to an increase in long-term borrowings [57]. - The total cash dividend for 2020 was RMB 14,534,150.90, representing 21.01% of the net profit attributable to ordinary shareholders [171]. - The company implemented a cash dividend policy, distributing 0.5 RMB per share, totaling 14,534,150.90 RMB, which represents 100% of the profit distribution amount [166][169]. - The company plans to maintain a minimum cash dividend ratio of 20% in future distributions, aligning with its growth stage and significant capital expenditure needs [166]. International Collaborations - The company has strengthened integration with overseas partners, including the Netherlands' Novozymes and France's PST, achieving preliminary consensus on global procurement standards and sharing procurement information monthly [29]. - The company has signed a memorandum with Israeli Soli to introduce advanced agricultural technologies and invested in smart soil analysis technologies from Dutch company Alsys [41]. - The company is actively integrating acquisitions of Dutch Novacare and French PST to enhance operational efficiency and reduce production costs, which may improve gross margins [162]. Corporate Social Responsibility - The company donated ¥1,000,000 to support COVID-19 relief efforts and organized online training sessions that reached 4 million participants [74].