AIM(SZ:300446)2021-05-13 16:00Financial Performance - The company reported a revenue of 131.05 million yuan in 2020, a decrease of 60.74% year-on-year[7]. - The net profit attributable to the company was a loss of 25.17 million yuan in 2020[7]. - The company's operating revenue for 2020 was ¥131,049,777.63, a decrease of 60.74% compared to ¥333,817,455.11 in 2019[40]. - The net profit attributable to shareholders for 2020 was -¥25,172,866.50, representing a decline of 121.84% from ¥115,242,189.47 in 2019[40]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥42,374,347.80, down 144.11% from ¥96,061,856.66 in 2019[40]. - The net cash flow from operating activities for 2020 was ¥38,890,892.60, a decrease of 56.45% compared to ¥89,293,368.80 in 2019[40]. - The audited net profit for 2020 was negative, and revenue was below 100 million RMB, triggering delisting risk warnings from the Shenzhen Stock Exchange[24]. - The company's total revenue for 2020 was approximately ¥131.05 million, a decrease of 60.74% year-on-year[89]. - The company's sales revenue decreased by 23.66% year-on-year due to the impact of the COVID-19 pandemic on the European market[60]. Product Performance - Sales revenue from the main products, thermal sensitive magnetic tickets and magnetic strips, decreased by 76.20% due to the impact of the pandemic and halted production[8]. - Revenue from information anti-counterfeiting materials was ¥60.78 million, representing 46.38% of total revenue, down 76.20% year-on-year[90]. - Revenue from electronic functional materials increased by 21.17% year-on-year, indicating progress in new product development[11]. - The company's revenue from information anti-counterfeiting materials, primarily thermal magnetic tickets and magnetic stripes, decreased by 76.20% year-on-year, leading to a net loss of RMB 28.91 million[54]. - The company's main products in electronic functional materials, including electromagnetic wave shielding films and pressure testing films, saw a sales revenue increase of 21.17% compared to the previous year[57]. Acquisitions and Business Expansion - The acquisition of 71.0355% of LeKai Chemical was completed in December 2020, expanding the company's business into fine chemical materials[20]. - The company acquired a 71.0355% stake in LeKai Chemical through cash transactions in December 2020, constituting a business combination under common control[43]. - The company has expanded its main business into fine chemical materials by acquiring LeKai Chemical, focusing on light stabilizers and antioxidants[57]. - The company’s acquisition of Lekai Chemical is expected to enhance its sustainable development capabilities and expand its operational scale[99]. Research and Development - The company is focusing on R&D for new products such as automotive interior films and electromagnetic shielding films[11]. - The company is actively developing new products such as improved electromagnetic wave shielding films and automotive interior films, which have entered the customer trial verification phase[54]. - R&D investment amounted to 39.51 million yuan, representing a year-on-year growth of 4.78% and accounting for 30.15% of total revenue[72]. - The company has maintained stable import and export tax policies, which have not affected its operations[85]. - The company has established a complete R&D, procurement, production, quality inspection, and marketing system to ensure operational independence[60]. Market Risks and Challenges - The company faces risks of continued losses due to the ongoing suspension of the thermal sensitive magnetic ticket production line[15]. - The EMV migration is expected to decrease the demand for magnetic strips, potentially impacting future revenue[21]. - The company is facing risks of declining sales prices and potential lower sales volume and product profits due to increasing market competition[24]. - The demand for magnetic stripe cards is decreasing, which may affect future revenue[24]. - New projects faced delays in completion due to COVID-19 and other factors, impacting product launch timelines[24]. - The company faced a significant decline in orders for thermal magnetic ticket products due to the accelerated promotion of electronic tickets and the impact of the pandemic[70]. Financial Position and Assets - The total assets at the end of 2020 were ¥838,115,035.59, a decrease of 4.37% from ¥876,389,436.72 at the end of 2019[40]. - The net assets attributable to shareholders at the end of 2020 were ¥643,006,708.09, down 16.15% from ¥766,824,565.81 at the end of 2019[40]. - The company's fixed assets increased to ¥159.92 million, accounting for 19.08% of total assets, up from 15.85% in the previous year[121]. - The company experienced a decrease in accounts receivable by 6.35% to ¥28.06 million, attributed to reduced sales due to the pandemic[121]. Operational Efficiency - The production capacity utilization for information anti-counterfeiting materials was 14.25%, while electronic functional materials had a utilization rate of 5.87%[80]. - The production volume of information anti-counterfeiting materials was 256.47 million square meters, while sales volume was 352.15 million square meters, indicating a significant drop in production due to external factors[94]. - The company has established a dedicated sales department for its products, employing both direct sales and distribution strategies[85]. Environmental and Social Responsibility - The company emphasizes environmental protection, achieving zero wastewater discharge in its main products and low VOC emissions in some products[64]. - The company is recognized as a national high-tech enterprise, continuously increasing investment in product R&D and improving its comprehensive R&D capabilities[64].