国林科技(300786) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was CNY 401,578,784.24, representing a 7.73% increase compared to CNY 372,747,745.27 in 2019[15]. - The net profit attributable to shareholders for 2020 was CNY 79,987,030.16, an increase of 11.36% from CNY 71,830,162.02 in the previous year[15]. - The net cash flow from operating activities was CNY 69,781,644.07, up by 10.83% from CNY 62,963,317.62 in 2019[15]. - The total assets at the end of 2020 reached CNY 1,133,020,430.56, marking a 15.99% increase from CNY 976,844,812.12 at the end of 2019[15]. - The net assets attributable to shareholders increased by 8.54% to CNY 833,382,008.83 from CNY 767,789,299.45 in 2019[15]. - The basic earnings per share for 2020 was CNY 0.94, a slight increase of 1.08% from CNY 0.93 in the previous year[15]. - The weighted average return on equity decreased to 10.01% from 12.92% in 2019, reflecting a decline of 2.91%[15]. - The company achieved a revenue growth of 7.73% year-on-year, reaching 40,157.88 million in 2020[27]. - The net profit attributable to the parent company for 2020 was 7,998.70 million, representing an increase of 11.36% compared to the previous year[27]. Cash Dividends - The company plans to distribute a cash dividend of CNY 1.90 per 10 shares, totaling CNY 16,200,000 based on 85,440,000 shares[4]. - The total cash dividend for 2020 amounted to RMB 16,233,600, representing 20.30% of the net profit attributable to the company's ordinary shareholders[106]. - In 2019, the cash dividend was RMB 2.70 per 10 shares, with a total cash dividend of RMB 14,418,000, accounting for 20.07% of the net profit[106]. - The cash dividend for 2018 was RMB 3.00 per 10 shares, totaling RMB 12,015,000, which was 19.73% of the net profit[106]. - The company has consistently increased its cash dividends over the past three years, reflecting a commitment to returning value to shareholders[106]. - The company plans to distribute cash dividends of RMB 2.70 per 10 shares and to increase capital by 6 shares for every 10 shares held, with a total cash dividend amounting to RMB 16,233,600[100]. Research and Development - The company is involved in the research and development of ozone generation technology, focusing on applications in new fields and industries[25]. - R&D investment amounted to 15.56 million yuan, showing a steady increase, with one new invention patent and three utility model patents added during the period[45]. - The company has achieved significant breakthroughs in key technologies related to ozone system equipment manufacturing, resulting in 9 invention patents and multiple utility model patents[31]. - The company has developed proprietary technology for producing high-quality crystalline acetaldehyde acid and aims to industrialize this project[84]. - The company is investing in manufacturing information technology to improve production efficiency and operational effectiveness[86]. - The company has committed to continuous technological innovation as a core competitive advantage to lead market demand and accelerate the industrialization of technological achievements[125]. Market Position and Strategy - The company is a leading player in the ozone equipment manufacturing industry, contributing to national environmental goals and standards[28]. - The demand for ozone generators is expected to continue growing due to increasing environmental protection awareness and government policies[28]. - The company has established long-term partnerships with various enterprises, enhancing its market position and brand reputation[27]. - The company focuses on specialized production and has established a production base in Laixi for ozone system equipment manufacturing[37]. - The company aims to become the largest and most technologically advanced ozone system supplier globally, focusing on increasing production capacity and improving product technology levels[80]. - The marketing strategy includes expanding into high-end markets for ozone applications and enhancing the sales network for acetaldehyde acid products[85]. Assets and Liabilities - Cash and cash equivalents increased by 37.97% compared to the beginning of the period, attributed to net cash inflows from operating activities and the redemption of maturing financial products[29]. - Accounts receivable stood at ¥166,064,519.21, accounting for 14.66% of total assets, showing a decrease of 1.17% from the previous period[71]. - Inventory increased to ¥248,913,574.74, which is 21.97% of total assets, reflecting a rise of 1.03%[71]. - The company reported a significant increase in construction in progress, reaching ¥47,907,576.72, or 4.23% of total assets, primarily due to the high-quality crystal acetaldehyde project in Xinjiang[71]. - Total restricted assets amounted to ¥8,813.34 million, which is 7.78% of total assets, mainly due to bank mortgage loans[73]. Shareholder Information - The company’s major shareholder holds 34.37% of the total shares, which may pose risks if control is exercised improperly, prompting the company to enhance internal control and governance structures[94]. - The company’s total share capital increased from 40,050,000 shares in 2018 to 85,440,000 shares in 2020, indicating growth in equity base[103]. - The company has maintained a stable dividend payout ratio over the past three years, averaging around 20%[106]. - The company has a share reduction commitment where the number of shares sold annually will not exceed 25% of the total shares held at the end of the previous year[110]. - The company has committed to not transferring shares within the first twelve months post-IPO, ensuring stability in shareholding[112]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[4]. - The company recognizes market risks due to its leading position domestically but acknowledges the competition from international peers[89]. - The company faces risks from intensified market competition as larger, stronger competitors enter the ozone system equipment market, necessitating further improvements in R&D and operational capabilities[95]. - The company has established emergency plans and communication mechanisms to mitigate the impact of the ongoing COVID-19 pandemic on its operations and financial performance[96]. Corporate Governance - The company has established measures to stabilize its stock price following the increase of shares by the controlling shareholder[117]. - The commitment letter will remain effective for twelve months after the individual ceases to be a shareholder, director, or senior management personnel[116]. - The company has established a commitment to ensure the accuracy and completeness of its IPO prospectus, with penalties for any misleading statements[120]. - The company’s management has committed to not transferring benefits to other entities or individuals unfairly[120]. Employee Information - The total number of employees in the company is 602, with 541 in the parent company and 61 in major subsidiaries[198]. - The professional composition includes 268 production personnel, 48 sales personnel, 159 technical personnel, 19 financial personnel, and 108 administrative personnel[198]. - The company has established a comprehensive salary management system, focusing on performance and capability, with salaries including base pay, performance bonuses, allowances, and overtime pay[200]. - The educational background of employees shows 8 with master's degrees or above, 163 with bachelor's degrees, 136 with associate degrees, and 295 with high school or lower education[198].