SYG(SZ:300740)2021-04-25 16:00Financial Performance - The total revenue for the year 2020 was reported at RMB 1.2 billion, representing a year-on-year increase of 15% compared to 2019[19]. - The company achieved a net profit of RMB 150 million in 2020, which is a 20% increase from the previous year[19]. - The company's operating revenue for 2020 was ¥3,715,035,387.78, representing a 54.02% increase compared to ¥2,412,120,737.79 in 2019[26]. - The net profit attributable to shareholders for 2020 was ¥140,273,625.84, a significant increase of 415.28% from ¥27,222,662.27 in 2019[26]. - The net profit after deducting non-recurring gains and losses reached ¥135,886,436.76, up 2,094.56% from ¥6,191,975.10 in 2019[26]. - The total revenue for the year 2020 reached ¥3,715,035,387.78, representing a 54.02% increase compared to ¥2,412,120,737.79 in 2019[69]. - The company reported a total revenue of 1,291,649,050.71 CNY, with a net profit of 37,313,381.13 CNY for the period[123]. - The skincare manufacturing subsidiary achieved a total revenue of 1,004,939,898.00 CNY and a net profit of 112,557,748.66 CNY[123]. User Growth and Market Expansion - User data indicated a growth in active users to 5 million, up from 4 million in 2019, marking a 25% increase[19]. - The company plans to expand its market presence in Southeast Asia, targeting a revenue contribution of 10% from this region by 2022[19]. - Future guidance estimates a revenue growth of 20% for 2021, driven by new product introductions and market expansion efforts[19]. - User data showed a growth in active users, reaching 10 million, which is a 15% increase compared to the previous quarter[166]. - Market expansion plans include entering three new international markets by the end of 2024[166]. - The company is considering strategic acquisitions to bolster its market position, with a target of identifying at least two potential candidates by mid-2024[166]. Product Development and Innovation - New product launches are expected to contribute an additional RMB 300 million in revenue in 2021, with a focus on innovative skincare solutions[19]. - The company has allocated RMB 50 million for research and development in new technologies for product enhancement in 2021[19]. - The company has invested in a global smart mask production base, contributing to the increase in construction in progress[46]. - The company has a research and development team of over 100 people and collaborates with institutions like Jiangnan University and Central South University to enhance innovation[50]. - The company completed the development of several new products in collaboration with top universities and research institutions, focusing on innovative cosmetic materials[84]. - The company is investing heavily in R&D, with a budget increase of 10% to enhance product innovation[166]. Financial Strategy and Shareholder Returns - The board has approved a cash dividend of RMB 0 per share for the year, reflecting a cautious approach amid market uncertainties[6]. - The total distributable profit for the year was approximately ¥99.44 million, with no cash dividends distributed, resulting in a cash dividend ratio of 0.00%[139]. - The company plans to roll over the undistributed profits to the next fiscal year to support ongoing production and strategic initiatives, particularly for the global smart mask production base expected to enter trial production in 2021[141]. - The company aims to create long-term investment value for shareholders through sustainable development strategies[141]. - The company plans to maintain a minimum cash dividend ratio of 40% for profit distribution during growth phases with significant capital expenditures[161]. Operational Efficiency and Cost Management - A strategic partnership with a leading e-commerce platform is anticipated to increase online sales by 30% in the coming year[19]. - The company aims to improve operational efficiency, targeting a 5% reduction in costs through process optimization[166]. - The company has seen an increase in accounts receivable due to sales growth, indicating a positive sales trend[46]. Risk Management and Compliance - The company faces risks related to supply chain management, including inventory management and product expiration[127]. - The competitive landscape in the cosmetics industry poses risks, particularly from similar brand competitors and online sales channels[128]. - The company has committed to strict adherence to regulations regarding related party transactions to ensure fairness and protect shareholder interests[155]. - The company has implemented measures to reduce related party transactions, including the active role of independent directors in ensuring compliance and fairness[155]. Sustainability Initiatives - The company is committed to sustainability initiatives, planning to reduce carbon emissions by 30% over the next five years[166]. - The management emphasized the importance of sustainability initiatives, with plans to reduce carbon emissions by 20% over the next five years[167].