ZALL SMARTCOM(02098)

Search documents
卓尔智联(02098) - 2019 - 中期财报
2019-09-19 09:52
Financial Performance - The company reported stable growth in performance, with a focus on the industrial internet and a clear operational model, achieving a steady increase in transaction volume across its platforms [9]. - The Han Kou Bei International Commodity Trading Center exceeded its semi-annual revenue target, with significant growth in foreign trade exports and the successful launch of cross-border e-commerce customs clearance [9]. - The company reported a significant increase in transaction volume and revenue from its online platforms, contributing to overall business growth [9]. - The group’s revenue for the six months ended June 30, 2019, increased by approximately 87.7% to RMB 34,723 million, up from RMB 18,495 million for the same period in 2018 [21]. - Revenue from supply chain management and trading business contributed approximately 98.1% of the total revenue for the six months ended June 30, 2019, significantly boosted by the acquisition of 52.48% of Huashuohui in March 2018 [23]. - The company reported revenue of RMB 34,722,958 thousand, an increase from RMB 34,096,482 thousand in the same period of 2018, representing a growth of approximately 1.83% [91]. - The gross profit for the same period was RMB 626,476 thousand, compared to RMB 570,432 thousand in 2018, indicating a year-on-year increase of about 9.83% [91]. - The net profit attributable to equity shareholders decreased by approximately 72.5% from RMB 1,236.1 million to RMB 340.5 million [40]. - The company’s profit for the six months ended June 30, 2019, was RMB 312,202 thousand, a significant decrease from RMB 1,211,484 thousand in 2018, representing a decline of approximately 74.2% [94]. Operational Developments - The company is actively expanding its online platforms, enhancing supply chain service levels, and extending its overseas business in sectors such as agricultural products, chemicals, and metals [9]. - The company initiated the construction of the "Digital Han Kou Bei" system, exploring online solutions for wholesale markets nationwide [9]. - The company aims to deepen the integration of online and offline platforms, focusing on technological innovation and high-quality development opportunities in the supply chain service sector [10]. - The company has made progress in applying technologies such as blockchain and the Internet of Things, enhancing its operational capabilities [9]. - The logistics service subsidiary, Zhuojisong, has achieved significant growth, with a total order volume exceeding 82 million and nearly 110,000 drivers on its logistics platform [17]. - The group plans to expand its intelligent warehousing services across major cities in China, focusing on high-quality storage solutions for various industries [15]. Market Expansion - The group expanded its market area by 172,600 square meters in the first half of 2019, enhancing its new retail model and establishing a one-stop pet shopping center in Central China [11]. - The total export value of the pilot market procurement trade model reached USD 390 million in the first half of 2019, representing a year-on-year increase of 145% [11]. - Zhongnong Network added 4,218 new customers, bringing the total registered users to 86,837, and achieved a revenue of RMB 17.94 billion, a 37% increase year-on-year [13]. - The CIC trading platform recorded a cumulative transaction volume of nearly USD 5 billion by the end of June 2019, with over 4,000 registered users from various countries [15]. Financial Position - Cash and cash equivalents increased by approximately 17.4% from RMB 1,118.6 million to RMB 1,313.0 million, primarily due to increased cash from interest-bearing borrowings [42]. - The net debt ratio increased from 52.4% on December 31, 2018, to 55.3% on June 30, 2019, primarily due to an increase in interest-bearing borrowings to enhance operational capacity [44]. - The company reported a significant increase in trade and other receivables, which rose to RMB 10,259,090 thousand from RMB 8,604,425 thousand, reflecting an increase of approximately 19.2% [96]. - The company's total liabilities increased to RMB 24,663,142 thousand from RMB 23,654,563 thousand, marking an increase of about 4.3% [96]. - The company's interest-bearing borrowings decreased to RMB 8,672,063 thousand from RMB 9,255,114 thousand, indicating a reduction of about 6.3% [96]. Shareholder Information - As of June 30, 2019, Yan Zhi holds 6,609,022,268 shares (56.09%) through his wholly-owned company, Zall Development Investment Limited [76]. - The company has a total of 11,782,825,800 ordinary shares issued as of June 30, 2019 [81]. - Major shareholder Qi Changqun has a controlled entity holding 949,224,000 shares (8.06%) [80]. - The company has adopted a share option scheme to incentivize and reward eligible participants contributing to its business success [54]. - The maximum number of shares that can be issued under the stock option plan is capped at 1,050,000,000 shares, representing approximately 8.91% of the company's issued shares as of the report date [57]. Compliance and Governance - The company has adopted the corporate governance code as per the listing rules and has complied with it for the six months ending June 30, 2019 [83]. - All directors confirmed compliance with the securities trading standards during the six months ending June 30, 2019 [84]. - Min Xueqin was appointed as an executive director effective April 16, 2019 [75]. - The company has not used any financial instruments for hedging purposes as of June 30, 2019, and will continue to monitor foreign exchange fluctuations [45]. Accounting Standards - The company adopted IFRS 16 on January 1, 2019, which resulted in the comparative figures not being restated [144]. - The company has implemented a new accounting standard (IFRS 16) effective January 1, 2019, which has not been restated in comparative figures [103]. - The transition to IFRS 16 did not have a significant impact on the company's financial statements, as it previously accounted for all leased properties as investment properties under IAS 40 [120].
卓尔智联(02098) - 2018 - 年度财报
2019-04-26 11:01
Financial Performance - The company's revenue for 2018 was RMB 56,116,072 thousand, a significant increase from RMB 22,249,176 thousand in 2017, representing a growth of approximately 152%[12] - Gross profit for 2018 was RMB 1,559,600 thousand, with a gross margin of 2.8%, down from a gross margin of 4.5% in 2017[12] - Net profit for the year was RMB 1,273,907 thousand, a decrease from RMB 2,356,482 thousand in the previous year[12] - The revenue of Zhuogang Chain reached RMB 5.7 billion by the end of 2018, having established business relationships with about 1,500 upstream and downstream customers[29] - Revenue from supply chain management and trading business contributed approximately 96.4% of the total revenue for the year ended December 31, 2018, primarily due to the full-year impact of the acquisition of 50.6% equity in Zhongnongwang completed in June 2017[39] - Revenue from e-commerce and financial services decreased by approximately 10.6% from RMB 118.6 million in 2017 to RMB 106.1 million in 2018, primarily due to a slight decline in e-commerce transaction volume[42] - Revenue from construction contracts significantly decreased by approximately 83.8% from RMB 30.9 million in 2017 to RMB 5.0 million in 2018, mainly due to projects being in the completion stage[43] - Property sales revenue decreased by approximately 10.1% from RMB 759.5 million in 2017 to RMB 682.8 million in 2018, attributed to a reduction in the area delivered in 2018[44] Assets and Liabilities - The total assets of the company increased to RMB 53,081,118 thousand in 2018 from RMB 47,343,628 thousand in 2017[13] - The company's total liabilities rose to RMB 33,472,305 thousand in 2018, compared to RMB 28,682,741 thousand in 2017[13] - The company's total equity attributable to equity shareholders increased to approximately RMB 18,779.6 million in 2018 from RMB 17,781.2 million in 2017, reflecting a solid financial position[57] - The group's interest-bearing borrowings increased by approximately 29.4% from RMB 10,994.4 million on December 31, 2017, to RMB 14,225.9 million on December 31, 2018, primarily due to the acquisition of Huashuohui and an increase in short-term borrowings[59] - The net debt-to-equity ratio rose from 39.5% on December 31, 2017, to 52.4% on December 31, 2018, mainly due to the increase in interest-bearing borrowings[60] Technology and Innovation - The company aims to leverage new technologies such as IoT, blockchain, and AI to enhance B2B trading efficiency and establish a smart supply chain ecosystem[15] - The company is committed to building a unique intelligent trading ecosystem that integrates online and offline services[15] - The company aims to strengthen its core competitiveness through technology-driven transformation, focusing on blockchain, IoT, AI, and big data applications[20] - The company launched the first domestic "Blockchain for Bulk Agricultural Products" in January 2019, enhancing supply chain efficiency and cost savings for clients[22] - The company is focusing on integrating new technologies such as blockchain, IoT, AI, and big data to enhance supply chain efficiency and reduce transaction costs for SMEs[23] Globalization and Market Expansion - The group has made significant progress in its globalization efforts, particularly in international commodity trading[16] - The company is committed to building a global import commodity distribution center and enhancing international market connections through its online and offline business integration[19] - The company is actively participating in the development of cross-border e-commerce and has been prioritized for development in the China (Wuhan) cross-border e-commerce comprehensive pilot zone[25] - The company is expanding its market presence in Southeast Asia, targeting a 30% market share within the next two years[77] Strategic Partnerships and Acquisitions - The strategic cooperation with Zhongbang Bank aims to expand the business scale of various B2B platforms[17] - The company acquired a 50.6% stake in Zhongnongwang in June 2017, enhancing its online platform business and strategic planning capabilities[72] - The company completed a strategic acquisition of a logistics firm, enhancing operational efficiency and expected to save 10% in costs annually[77] Corporate Governance - The company is committed to establishing good corporate governance practices to enhance transparency and accountability to shareholders[155] - The board of directors consists of eight members, including five executive directors and three independent non-executive directors[157] - The company has adopted the corporate governance code as per the listing rules and has complied with it throughout the year ended December 31, 2018, except for a deviation regarding the separation of roles of chairman and CEO[156] - The company has provided indemnity guarantees for all directors and senior executives against liabilities incurred in the execution of their duties[122] Risk Management - The company has established a risk management and internal control system, which is reviewed annually for effectiveness[181] - The risk management framework includes a risk rating model categorizing risks as low, medium, or high[179] - The company has identified several major risks, including information system risks, which could lead to significant data breaches if proper security measures are not established[182] Shareholder Relations - The board emphasizes the importance of clear and timely communication with shareholders to build investor confidence and attract new investors[193] - The company encourages communication with institutional investors to enhance transparency and gather feedback[197] - The company provides various channels for shareholders and investors to inquire or communicate, including a dedicated email and phone number[198]