Board Change • May 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 5 highly experienced directors. Executive Director Xinyi Wang was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 23
Full year 2025 earnings released: CN¥0.95 loss per share (vs CN¥0.017 profit in FY 2024) Full year 2025 results: CN¥0.95 loss per share (down from CN¥0.017 profit in FY 2024). Revenue: CN¥1.50b (down 9.5% from FY 2024). Net loss: CN¥1.03b (down CN¥1.05b from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 24
Full year 2025 earnings released: CN¥0.96 loss per share (vs CN¥0.017 profit in FY 2024) Full year 2025 results: CN¥0.96 loss per share (down from CN¥0.017 profit in FY 2024). Revenue: CN¥1.50b (down 9.5% from FY 2024). Net loss: CN¥1.03b (down CN¥1.05b from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 110 percentage points per year, which is a significant difference in performance. Duyuru • Mar 24
China Boton Group Company Limited, Annual General Meeting, May 22, 2026 China Boton Group Company Limited, Annual General Meeting, May 22, 2026. Duyuru • Mar 11
China Boton Group Company Limited to Report Fiscal Year 2025 Results on Mar 23, 2026 China Boton Group Company Limited announced that they will report fiscal year 2025 results at 12:30 PM, China Standard Time on Mar 23, 2026 Duyuru • Nov 28
China Boton Group Company Limited Announces Resignation of Wan Shuk Ching, Candy as Non-Executive Director, Effective 30 November 2025 The board (``Board'') of directors of China Boton Group Company Limited announced that Ms. Wan Shuk Ching, Candy (``Ms. Wan'') has resigned as the non-executive director of the Company with effect from 30 November 2025 due to shift of her focus towards her personal commitment and professional obligation. Reported Earnings • Aug 25
First half 2025 earnings released: CN¥0.008 loss per share (vs CN¥0.041 profit in 1H 2024) First half 2025 results: CN¥0.008 loss per share (down from CN¥0.041 profit in 1H 2024). Revenue: CN¥637.8m (down 15% from 1H 2024). Net loss: CN¥8.12m (down 118% from profit in 1H 2024). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Duyuru • Aug 12
China Boton Group Company Limited to Report First Half, 2025 Results on Aug 22, 2025 China Boton Group Company Limited announced that they will report first half, 2025 results on Aug 22, 2025 Duyuru • Jun 13
China Boton Group Company Limited Announces Resignation of Mr. Yang Ying Chun as Executive Director, Effective from 30 June 2025 China Boton Group Company Limited announced that Mr. Yang Ying Chun has resigned as an executive director of the Company with effect from 30 June 2025 due to his personal engagements which requires more of his dedication. Board Change • Apr 08
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director How Boa Yau was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$1.38, the stock trades at a trailing P/E ratio of 76.3x. Average trailing P/E is 9x in the Chemicals industry in Hong Kong. Total loss to shareholders of 53% over the past three years. Reported Earnings • Mar 25
Full year 2024 earnings released: EPS: CN¥0.02 (vs CN¥0.14 in FY 2023) Full year 2024 results: EPS: CN¥0.02 (down from CN¥0.14 in FY 2023). Revenue: CN¥1.65b (down 20% from FY 2023). Net income: CN¥18.4m (down 87% from FY 2023). Profit margin: 1.1% (down from 7.1% in FY 2023). Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Chemicals industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Duyuru • Mar 24
China Boton Group Company Limited, Annual General Meeting, May 16, 2025 China Boton Group Company Limited, Annual General Meeting, May 16, 2025. Buy Or Sell Opportunity • Mar 21
Now 22% undervalued Over the last 90 days, the stock has risen 5.7% to HK$1.68. The fair value is estimated to be HK$2.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 20%. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$1.62, the stock trades at a trailing P/E ratio of 12.7x. Average forward P/E is 9x in the Chemicals industry in Hong Kong. Total loss to shareholders of 54% over the past three years. Duyuru • Mar 10
China Boton Group Company Limited to Report Fiscal Year 2024 Results on Mar 24, 2025 China Boton Group Company Limited announced that they will report fiscal year 2024 results on Mar 24, 2025 Buy Or Sell Opportunity • Nov 11
Now 25% undervalued Over the last 90 days, the stock has risen 1.2% to HK$1.74. The fair value is estimated to be HK$2.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 20%. Buy Or Sell Opportunity • Oct 09
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.2% to HK$1.90. The fair value is estimated to be HK$2.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 20%. Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$2.10, the stock trades at a trailing P/E ratio of 16.1x. Average forward P/E is 7x in the Chemicals industry in Hong Kong. Total loss to shareholders of 20% over the past three years. Buy Or Sell Opportunity • Sep 13
Now 22% overvalued Over the last 90 days, the stock has fallen 16% to HK$1.80. The fair value is estimated to be HK$1.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 20%. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$1.99, the stock trades at a trailing P/E ratio of 15.3x. Average forward P/E is 6x in the Chemicals industry in Hong Kong. Total loss to shareholders of 48% over the past three years. Buy Or Sell Opportunity • Aug 27
Now 25% overvalued Over the last 90 days, the stock has fallen 19% to HK$1.80. The fair value is estimated to be HK$1.44, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 20%. Reported Earnings • Aug 26
First half 2024 earnings released: EPS: CN¥0.041 (vs CN¥0.058 in 1H 2023) First half 2024 results: EPS: CN¥0.041 (down from CN¥0.058 in 1H 2023). Revenue: CN¥751.0m (down 6.7% from 1H 2023). Net income: CN¥44.3m (down 29% from 1H 2023). Profit margin: 5.9% (down from 7.8% in 1H 2023). Revenue is forecast to grow 44% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Chemicals industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 24% per year. Duyuru • Aug 12
China Boton Group Company Limited to Report First Half, 2024 Results on Aug 23, 2024 China Boton Group Company Limited announced that they will report first half, 2024 results on Aug 23, 2024 Duyuru • Apr 21
China Boton Group Company Limited, Annual General Meeting, May 24, 2024 China Boton Group Company Limited, Annual General Meeting, May 24, 2024, at 15:30 China Standard Time. Location: Conference Room, ANPA Financial Services Group Limited, Portion 2, 12th Floor The Center, 99 Queen's Road Central Central Hong Kong Agenda: To receive and consider the audited consolidated financial statements and the reports of the directors and auditor for the year ended 31 December 2023; to consider re-election of Directors of the Company; to authorize the board of directors of the Company to fix the directors' remuneration; to re-appoint the Company's auditor and to authorize the board of directors of the Company to fix the remuneration of the auditor; and to consider any other matters. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improves as stock rises 66% After last week's 66% share price gain to HK$2.65, the stock trades at a trailing P/E ratio of 18.1x. Average forward P/E is 4x in the Chemicals industry in Hong Kong. Total loss to shareholders of 24% over the past three years. Reported Earnings • Mar 23
Full year 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.045 in FY 2022) Full year 2023 results: EPS: CN¥0.14 (up from CN¥0.045 in FY 2022). Revenue: CN¥2.06b (down 11% from FY 2022). Net income: CN¥146.4m (up 203% from FY 2022). Profit margin: 7.1% (up from 2.1% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year whereas the company’s share price has fallen by 27% per year. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to HK$1.12, the stock trades at a trailing P/E ratio of 43.2x. Average trailing P/E is 5x in the Chemicals industry in Hong Kong. Total loss to shareholders of 83% over the past three years. Duyuru • Mar 12
China Boton Group Company Limited to Report Fiscal Year 2023 Results on Mar 22, 2024 China Boton Group Company Limited announced that they will report fiscal year 2023 results on Mar 22, 2024 Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$1.02, the stock trades at a trailing P/E ratio of 39.3x. Average trailing P/E is 6x in the Chemicals industry in Hong Kong. Total loss to shareholders of 80% over the past three years. Duyuru • Dec 29
China Boton Group Company Limited Appoints Wan Shuk Ching Candy as Non-Executive Director The board of directors of China Boton Group Company Limited announce that Ms. Wan Shuk Ching Candy (‘Ms. Wan’) has been appointed as a Non-executive Director of the Company with effect from 29 December 2023. Ms. Wan, aged 51, obtained a bachelor's degree of business (accounting) in Central Queensland University in 2001. She is a CPA Australia Member. Ms. Wan has more than 20 years of working experience in the finance and accounting field and worked in various commercial companies. She had been working in the Company as assistant financial controller for more than 11 years since 2007 and had thorough understanding in the business operation and financial background of the Company and its subsidiaries. Reported Earnings • Aug 30
First half 2023 earnings released: EPS: CN¥0.058 (vs CN¥0.089 in 1H 2022) First half 2023 results: EPS: CN¥0.058 (down from CN¥0.089 in 1H 2022). Revenue: CN¥805.2m (down 33% from 1H 2022). Net income: CN¥62.8m (down 35% from 1H 2022). Profit margin: 7.8% (down from 8.0% in 1H 2022). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Duyuru • Aug 16
China Boton Group Company Limited to Report First Half, 2023 Results on Aug 28, 2023 China Boton Group Company Limited announced that they will report first half, 2023 results on Aug 28, 2023 Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$2.29, the stock trades at a trailing P/E ratio of 47.5x. Average trailing P/E is 5x in the Chemicals industry in Hong Kong. Total returns to shareholders of 16% over the past three years. Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: CN¥0.04 (vs CN¥0.17 in FY 2021) Full year 2022 results: EPS: CN¥0.04 (down from CN¥0.17 in FY 2021). Revenue: CN¥2.32b (up 1.7% from FY 2021). Net income: CN¥48.3m (down 74% from FY 2021). Profit margin: 2.1% (down from 8.0% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 5 highly experienced directors. Financial Controller & Executive Director Ying Chun Yang was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 23% share price decline to HK$2.16, the stock trades at a trailing P/E ratio of 12.1x. Average forward P/E is 4x in the Chemicals industry in Hong Kong. Total returns to shareholders of 20% over the past three years. Reported Earnings • Aug 26
First half 2022 earnings released: EPS: CN¥0.09 (vs CN¥0.096 in 1H 2021) First half 2022 results: EPS: CN¥0.09 (down from CN¥0.096 in 1H 2021). Revenue: CN¥1.20b (up 11% from 1H 2021). Net income: CN¥96.3m (down 6.7% from 1H 2021). Profit margin: 8.0% (down from 9.5% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 15%, compared to a 2.5% growth forecast for the Chemicals industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Aug 13
China Boton Group Company Limited to Report First Half, 2022 Results on Aug 25, 2022 China Boton Group Company Limited announced that they will report first half, 2022 results on Aug 25, 2022 Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improved over the past week After last week's 31% share price gain to HK$3.79, the stock trades at a trailing P/E ratio of 19.1x. Average forward P/E is 5x in the Chemicals industry in Hong Kong. Total returns to shareholders of 90% over the past three years. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 5 highly experienced directors. Financial Controller & Executive Director Ying Chun Yang was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Apr 20
China Boton Group Company Limited, Annual General Meeting, May 20, 2022 China Boton Group Company Limited, Annual General Meeting, May 20, 2022, at 15:30 China Standard Time. Location: Diamond Room, Protop Financial Press Limited, 22/F Nexxus Building, 41 Connaught Road Central, Central Hong Kong Hong Kong Agenda: To receive and consider the audited consolidated financial statements and the reports of the directors and auditors for the year ended 31 December 2021; to consider and approve, each as a separate resolution, to re-elect Mr. Ng Kwun Wan as an independent non-executive director of the Company; to re-elect Mr. Zhou Xiao Xiong as an independent non-executive director of the Company; and to authorize the board of directors of the Company to fix the directors' remuneration; to re-appoint the Company's auditors and to authorise the board of directors of the Company to fix the remuneration of the auditors. Reported Earnings • Mar 29
Full year 2021 earnings released: EPS: CN¥0.17 (vs CN¥0.12 in FY 2020) Full year 2021 results: EPS: CN¥0.17 (up from CN¥0.12 in FY 2020). Revenue: CN¥2.29b (up 23% from FY 2020). Net income: CN¥183.5m (up 57% from FY 2020). Profit margin: 8.0% (up from 6.3% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 39%, compared to a 10% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorated over the past week After last week's 15% share price decline to HK$4.06, the stock trades at a trailing P/E ratio of 22.8x. Average forward P/E is 5x in the Chemicals industry in Hong Kong. Total returns to shareholders of 78% over the past three years. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improved over the past week After last week's 19% share price gain to HK$4.60, the stock trades at a trailing P/E ratio of 26.1x. Average forward P/E is 5x in the Chemicals industry in Hong Kong. Total returns to shareholders of 133% over the past three years. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improved over the past week After last week's 19% share price gain to HK$4.41, the stock trades at a trailing P/E ratio of 25x. Average forward P/E is 5x in the Chemicals industry in Hong Kong. Total returns to shareholders of 100% over the past three years. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 25% share price gain to HK$3.17, the stock trades at a trailing P/E ratio of 18.1x. Average forward P/E is 5x in the Chemicals industry in Hong Kong. Total returns to shareholders of 15% over the past three years. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 16% share price gain to HK$4.09, the stock trades at a trailing P/E ratio of 23.7x. Average forward P/E is 7x in the Chemicals industry in Hong Kong. Total returns to shareholders of 55% over the past three years. Reported Earnings • Aug 23
First half 2021 earnings released: EPS CN¥0.096 (vs CN¥0.072 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥1.08b (up 5.9% from 1H 2020). Net income: CN¥103.2m (up 60% from 1H 2020). Profit margin: 9.5% (up from 6.3% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Duyuru • Aug 08
China Boton Group Company Limited Provides Unaudited Earnings Guidance for the Six Months Ended June 30, 2021 China Boton Group Company Limited provided unaudited earnings guidance for the six months ended June 30, 2021. For the six months, Group is expected to record an increase in net profit of more than 40% for the six months ended 30 June 2021 as compared to the net profit for the six months ended 30 June 2020, which was driven by the contribution of the e-Cigarette Products Segment of the Company. Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥4.55, the stock trades at a trailing P/E ratio of 32.2x. Average forward P/E is 7x in the Chemicals industry in Hong Kong. Total returns to shareholders of 85% over the past three years. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥4.05, the stock trades at a trailing P/E ratio of 28.5x. Average forward P/E is 7x in the Chemicals industry in Hong Kong. Total returns to shareholders of 54% over the past three years. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment improved over the past week After last week's 26% share price gain to CN¥4.14, the stock trades at a trailing P/E ratio of 29.4x. Average forward P/E is 6x in the Chemicals industry in Hong Kong. Total returns to shareholders of 61% over the past three years. Reported Earnings • Apr 24
Full year 2020 earnings released: EPS CN¥0.12 (vs CN¥0.13 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥1.85b (up 13% from FY 2019). Net income: CN¥116.6m (down 2.4% from FY 2019). Profit margin: 6.3% (down from 7.3% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS CN¥0.12 (vs CN¥0.13 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥1.85b (up 13% from FY 2019). Net income: CN¥116.6m (down 2.4% from FY 2019). Profit margin: 6.3% (down from 7.3% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Duyuru • Mar 16
China Boton Group Company Limited to Report Fiscal Year 2020 Results on Mar 26, 2021 China Boton Group Company Limited announced that they will report fiscal year 2020 results on Mar 26, 2021 Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥5.39, the stock is trading at a trailing P/E ratio of 35.3x, down from the previous P/E ratio of 42.1x. This compares to an average P/E of 10x in the Chemicals industry in Hong Kong. Total returns to shareholders over the past three years are 171%. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment deteriorated over the past week After last week's 28% share price decline to CN¥6.71, the stock is trading at a trailing P/E ratio of 43.7x, down from the previous P/E ratio of 61x. This compares to an average P/E of 10x in the Chemicals industry in Hong Kong. Total returns to shareholders over the past three years are 267%. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improved over the past week After last week's 22% share price gain to CN¥9.70, the stock is trading at a trailing P/E ratio of 63.3x, up from the previous P/E ratio of 51.7x. This compares to an average P/E of 9x in the Chemicals industry in Hong Kong. Total returns to shareholders over the past three years are 477%. Is New 90 Day High Low • Feb 04
New 90-day high: HK$8.90 The company is up 409% from its price of HK$1.75 on 06 November 2020. The Hong Kong market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 46% over the same period. Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment improved over the past week After last week's 59% share price gain to CN¥2.70, the stock is trading at a trailing P/E ratio of 17.6x, up from the previous P/E ratio of 11.1x. This compares to an average P/E of 9x in the Chemicals industry in Hong Kong. Total returns to shareholders over the past three years are 45%. Is New 90 Day High Low • Jan 18
New 90-day high: HK$2.70 The company is up 42% from its price of HK$1.90 on 20 October 2020. The Hong Kong market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 27% over the same period. Recent Insider Transactions • Nov 13
Executive Chairman & CEO recently bought HK$48m worth of stock On the 11th of November, Ming Fan Wang bought around 30m shares on-market at roughly HK$1.60 per share. This was the largest purchase by an insider in the last 3 months. Ming Fan has been a buyer over the last 12 months, purchasing a net total of HK$67m worth in shares. Is New 90 Day High Low • Nov 04
New 90-day low: HK$1.67 The company is down 10.0% from its price of HK$1.86 on 06 August 2020. The Hong Kong market is flat over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Chemicals industry, which is down 12% over the same period. Duyuru • Sep 21
China Boton Group Company Limited(SEHK:3318) dropped from S&P Global BMI Index China Boton Group Company Limited(SEHK:3318) dropped from S&P Global BMI Index Duyuru • Aug 11
China Boton Group Company Limited to Report First Half, 2020 Results on Aug 21, 2020 China Boton Group Company Limited announced that they will report first half, 2020 results on Aug 21, 2020 