Yangzhou Chenhua(SZ:300610)2021-04-23 16:00Financial Performance - The company's operating revenue for 2020 was ¥900,255,186.07, representing an increase of 11.85% compared to ¥804,898,109.37 in 2019 [20]. - The net profit attributable to shareholders for 2020 was ¥137,309,895.84, a growth of 44.05% from ¥95,324,016.84 in 2019 [20]. - The net profit after deducting non-recurring gains and losses was ¥124,032,991.03, which is a 57.99% increase from ¥78,505,926.53 in 2019 [20]. - The basic earnings per share for 2020 was ¥0.91, up 44.44% from ¥0.63 in 2019 [20]. - The total assets at the end of 2020 amounted to ¥1,166,236,014.48, reflecting a 13.72% increase from ¥1,025,548,438.93 at the end of 2019 [20]. - The company reported a net cash flow from operating activities of ¥111,776,621.65, which is a 7.70% increase compared to ¥103,789,952.21 in 2019 [20]. - The company's total operating revenue for 2020 was ¥900,255,186.07, representing an increase of 11.85% compared to ¥804,898,109.37 in 2019 [54]. - The net profit attributable to the parent company was 137.31 million yuan, reflecting a growth of 44.05% compared to the previous year [43]. Dividend Distribution - The company plans to distribute a cash dividend of 4 RMB per 10 shares to all shareholders, based on a total of 15,067,300 shares [6]. - The cash dividend for 2020 represents 43.89% of the net profit attributable to the shareholders of the listed company [128]. - The company has maintained a consistent dividend policy over the past three years, with cash dividends of 1.10 RMB, 1.50 RMB, and 4 RMB per 10 shares for 2018, 2019, and 2020 respectively [127]. - The total distributable profit for the year was 436,201,237.15 RMB, with the cash dividend accounting for 100% of the profit distribution [126]. - The cash dividend distribution plan was approved at the annual general meeting held on May 22, 2020 [125]. Risk Management - The company emphasizes the importance of risk awareness regarding raw material supply and price fluctuations, exchange rate risks, and environmental protection [6]. - The company has disclosed potential risks in its future development outlook section, which investors should pay attention to [6]. - The company recognizes the risk of intensified industry competition and is preparing to address potential challenges in quality control and product liability [117]. - The company faces risks related to safety production and the transportation of hazardous chemicals, which require high operational standards [118]. - The company is actively monitoring market trends and potential risks to inform its future development strategies [121]. Research and Development - The company focuses on continuous R&D investment, enhancing its capabilities in new materials and production automation [34]. - Research and development investment for 2020 was 29.91 million yuan, with a total of 35 patents filed, including 29 invention patents [43]. - The company has formed a collaborative R&D system with universities and research institutions, improving its innovation efficiency [40]. - The company is currently in the process of developing new products and technologies, although specific details were not disclosed in the provided content [84]. - The company is committed to innovation-driven and sustainable development strategies in line with national policies [104]. Market Presence and Strategy - The company has a diverse customer base across various industries, including polyurethane, textiles, and electronics, indicating strong market presence [29]. - The company achieved an international market export revenue of 10.19% of its main business income in 2020 [34]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of the next fiscal year [135]. - The company plans to enhance its production management to control operational costs and improve economic efficiency [115]. - The company aims to enhance its competitive strength and profitability, striving for dual improvements in revenue and profit levels [159]. Compliance and Governance - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and management [5]. - The company has adhered to the guidelines set by the China Securities Regulatory Commission regarding profit distribution policies [125]. - The company will publicly disclose specific reasons for any failure to fulfill commitments made in the prospectus, along with an apology to shareholders and the public [161]. - The company has established a framework to ensure compliance with the commitments made during its initial public offering [162]. - The company confirmed that all commitments made to minority shareholders were fulfilled on time [171]. Environmental and Safety Management - The company has established a dedicated safety and environmental protection department, with no administrative penalties reported during the period [46]. - The company is focusing on green transformation in the chemical industry, promoting clean production and resource recycling [106]. - Environmental protection costs are increasing due to stricter pollution control standards, which may impact the company's normal operations as production scales up [119]. - The company has improved its production processes to control pollutants, but the increasing scale of production may lead to higher emissions of waste materials [119]. - The company has faced increased safety review requirements for projects involving hazardous materials following a major chemical accident in Jiangsu province [93].