On March 21, Jinji (300798) recently released its 2020 annual report. During the reporting period, the company achieved an operating income of 753586711.44 yuan, a year-on-year decrease of 32.96%; the net profit attributable to shareholders of listed companies was 22892203.04 yuan, a year-on-year decrease of 76.24%.
During the reporting period, the net cash flow from operating activities was 44936396.36 yuan, and the net assets attributable to shareholders of listed companies were 1213489387.66 yuan by the end of 2020.
During the reporting period, the company realized an operating revenue of 753586700 yuan, a year-on-year decrease of 32.96%; realized a total profit of 27438800 yuan, a year-on-year decrease of 75.49%; realized a net profit of 22892200 yuan belonging to the shareholders of the listed company, a year-on-year decrease of 76.24%.
During the reporting period, the company’s R & D work mainly focused on new product R & D, improvement of existing product quality, and improvement of production process. Jinyun dyestuff successfully developed 8 new products, including reactive pj-gr Cuilan, reactive blue CE, reactive sauce red QD, reactive red purple kn-3r, reactive red 245, and reactive p-type series. Among them, 3 new products, including reactive pj-gr Cuilan, have been put into the market, forming a good economic prospect The process of 14 old products, including reactive red pj-4bn, reactive deep blue K-r, reactive light yellow pf-6gs, reactive light yellow b-4gln, reactive yellow 42, Reactive Orange 107 and reactive yellow bh-3rs, was improved and optimized with new technology and new concept, in which 6 old products, including reactive 95 × yellow, were improved significantly; in addition, 1 national standard was formulated, 2 patent applications were submitted, and 2 new authorized invention patents were added Eight new product projects were submitted, and three papers were published in dye and dyeing. In 2020, the company’s R & D expenditure is 24.5657 million yuan, accounting for 3.26% of the company’s operating revenue. The proportion of R & D investment has been stable, and the continuous R & D investment has promoted the enterprise’s scientific and technological innovation and technological progress.
Influenced by various factors such as Sino US trade war and industry development trend, the domestic dyestuff production and sales volume has declined in the past three years. During the reporting period, the demand for dye intermediates was reduced due to the influence of COVID-19 holdings, and the price decreased significantly compared with the previous year. Due to the high proportion of para ester, H acid and other dye intermediates in the cost of the product, the cost of the dye also decreased significantly after the price fell.
During the period, the financial expenses were -3645776.16 yuan, a year-on-year decrease of 410.47%, mainly due to the interest income from bank financial products. During the period, the investment income was 130043.22 yuan.
According to the announcement, the total remuneration of directors, supervisors and senior managers during the reporting period was 1.7734 million yuan. Zhao Weiguo, chairman and general manager of the board of directors, received a total pre tax remuneration of 203300 yuan from the company; Dai Jiqun, director and deputy general manager, received a total pre tax remuneration of 181600 yuan from the company; Xiao Jian, deputy general manager and chief financial officer, received a total pre tax remuneration of 188000 yuan from the company; Xiao Weibing, director, secretary and deputy general manager, received a total pre tax remuneration of 191400 yuan from the company.
According to the announcement, the company’s profit distribution plan approved by the board of directors is as follows: with 417748945.00 as the base, cash dividend of 0.2 yuan (including tax) will be distributed to all shareholders for every 10 shares, bonus shares of 0 shares (including tax) will be given, and capital accumulation fund will be used to transfer 0 shares to all shareholders for every 10 shares.
According to digbei.com, the main business of Jinji Co., Ltd. is R & D, production and sales of dyes. Its main products are reactive dyes, which are used for dyeing and printing of textiles.