BSM(SZ:300796)2021-04-14 16:00Financial Performance - The company reported a total revenue of 121,150,000 RMB for the year 2020, with a cash dividend of 0.5 RMB per 10 shares to all shareholders[6]. - The company's operating revenue for 2020 was ¥404,543,473.59, a decrease of 18.12% compared to ¥494,091,971.03 in 2019[18]. - The net profit attributable to shareholders for 2020 was ¥38,411,515.91, down 39.65% from ¥63,652,795.42 in 2019[18]. - The net profit after deducting non-recurring gains and losses was ¥34,734,808.17, a decline of 34.03% from ¥52,648,463.58 in 2019[18]. - The company achieved a total revenue of 405 million yuan and a net profit attributable to shareholders of 38.41 million yuan in 2020, reflecting a year-on-year revenue decline of 22.07% due to the impact of the COVID-19 pandemic[63]. - The company reported a significant increase in inventory for dimethyl sulfoxide raw materials, with a 607.03% rise in stock levels[83]. - The company reported a net profit margin of 12% for 2020, an increase from 10% in 2019, indicating improved operational efficiency[184]. Risks and Challenges - The company faces several risks including market growth below expectations, new product development risks, and high customer concentration risks[6]. - The company has a high customer concentration risk, which may impact its revenue stability[6]. - The company is facing risks related to market growth not meeting expectations due to global economic adjustments, which may impact agricultural production expansion[144]. Market and Product Development - The company plans to expand its market presence and enhance its product offerings through ongoing research and development initiatives[6]. - The global pesticide market is projected to reach $66.703 billion by 2023, with a compound annual growth rate of 3% from 2018 to 2023[27]. - The company aims to optimize its product structure by promoting high-efficiency, safe, and environmentally friendly new products, aligning with global trends towards sustainable agriculture[32]. - The company is focused on developing high-efficiency, low-toxicity, and low-residue environmentally friendly pesticide raw materials[69]. - The company is actively engaged in research and development of new products to maintain its market leadership[69]. Research and Development - Research and development investment amounted to 22.81 million yuan, accounting for 5.64% of total revenue, with a total of 51 patents granted by the end of 2020[64]. - The company holds 51 authorized patents, including 11 invention patents, and has established a provincial high-tech enterprise R&D center recognized by the Zhejiang Provincial Science and Technology Department[53]. - The company is investing 100 million CNY in R&D for new technologies aimed at improving production efficiency[172]. - The company plans to enhance its R&D capabilities and efficiency, focusing on product tiering and technological improvements to boost core competitiveness[142]. Cash Dividends and Profit Distribution - The company implemented a cash dividend policy, distributing 0.80 RMB per 10 shares, totaling 6,057,500 RMB, which represents 100% of the profit distribution amount[161]. - A cash dividend of CNY 0.5 per 10 shares (including tax) will be distributed, totaling CNY 6,057,500, with the remaining undistributed profit carried forward to the next year[165]. - The cash dividend for 2020 represents 15.77% of the net profit attributable to the parent company, which was CNY 38,411,515.91[167]. - The company has a profit distribution policy that prioritizes cash dividends, with a minimum cash dividend ratio of 20% for growth-stage companies with significant capital expenditure[157]. Strategic Initiatives - The company is actively expanding its domestic and international markets, enhancing its core competitiveness and maintaining long-term strategic partnerships with customers[65]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million CNY allocated for potential mergers[171]. - The company plans to enhance its digital marketing strategy, aiming for a 30% increase in online sales channels by the end of 2021[186]. - The company is committed to ensuring the renewal of its safety production license and other relevant certifications[69]. Compliance and Governance - The company is focused on maintaining compliance with the regulations set forth for its IPO and subsequent market activities[181]. - The company has established measures to reduce or avoid unnecessary related party transactions, aiming for fair pricing and compliance with market principles[196]. - The company has outlined its commitment to transparency and accountability in its operations and shareholder relations[200]. Future Outlook - The company projects a revenue growth of 10% for the upcoming fiscal year, targeting 1.65 billion CNY[173]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next three years[175]. - Future guidance projects a revenue growth of 12% for 2021, driven by new product launches and market expansion[189].