GrandTech(BJ:835184)2022-06-14 16:00Company Overview - The company was established on October 24, 2005, and listed on November 15, 2021[20]. - The total share capital of the company is 133,790,000 shares[20]. - The company has three wholly-owned subsidiaries and one affiliated company focused on geographic information software development and data engineering[100]. Products and Services - The main products and services include geographic information data engineering, industry application software development, and spatial information application services[20]. - The company focuses on geographic information and agricultural big data, integrating 3S technology with modern information technologies[45]. - The company has developed an agricultural geographic big data platform to meet the information needs of the agricultural sector[15]. Financial Performance - The company's operating revenue for 2021 was CNY 291,599,438.13, a decrease of 7.08% compared to CNY 313,804,941.96 in 2020[28]. - The net profit attributable to shareholders of the listed company in 2021 was CNY 5,384,992.03, representing a significant decline of 87.07% from CNY 41,647,581.58 in 2020[28]. - The total assets at the end of 2021 amounted to CNY 764,039,720.16, down 5.88% from CNY 811,751,506.38 at the end of 2020[30]. - The company's debt-to-asset ratio (consolidated) was 7.55% at the end of 2021, compared to 6.72% at the end of 2020[30]. - The net cash flow from operating activities in 2021 was negative CNY 40,553,844.65, worsening by 240.55% from negative CNY 11,908,209.97 in 2020[31]. - The weighted average return on net assets (based on net profit attributable to shareholders) was 0.74% in 2021, down from 7.52% in 2020[28]. - The company reported a basic earnings per share of CNY 0.04 in 2021, a decrease of 88.89% from CNY 0.36 in 2020[28]. Shareholder Information - The largest shareholder, Dong Liceng, holds 26,456,980 shares, representing 19.775% of the total shares[177]. - Li Jingyan, the second-largest shareholder, holds 17,067,600 shares, accounting for 12.757% of the total shares[178]. - The total shares held by the top ten shareholders amount to 74,742,000, which is 55.8652% of the total shares[180]. - The number of ordinary shareholders increased to 28,127 during the reporting period[176]. Research and Development - The company employs a dual-driven R&D model, focusing on both technology and market demands for continuous innovation[51]. - R&D expenses amounted to ¥65,455,384.71, an increase of 90.40% year-on-year, primarily due to the expansion of fundraising project construction and increased investment in national map development[60]. - R&D investment increased by 90.40% year-on-year, with an additional RMB 31,077,800 invested compared to the previous period[110]. Risks and Challenges - The company faces risks related to the implementation of fundraising investment projects, including potential delays and market competition changes[12]. - The company is currently fulfilling its commitment regarding employee insurance payments and related penalties[169]. - The company faces market risks associated with technological innovation in the software and information technology services industry, necessitating continuous R&D investment and collaboration with academic institutions[151]. Government and Client Relationships - The company primarily relies on government procurement, with major clients being the Ministry of Natural Resources and the Ministry of Agriculture and Rural Affairs[12]. - The company has provided spatial information technology services to nearly 1,000 government departments, focusing on digital agriculture and rural revitalization[142]. Strategic Initiatives - The company is focused on digital transformation in agriculture, emphasizing the digitization of production factors, processes, and outputs[138]. - The company aims to optimize its main business revenue structure through a "1+4+1" development plan, enhancing its core technology and service capabilities[144]. - The company plans to invest in the construction of a nationwide agricultural map data product system, utilizing remote sensing and drone technology for data acquisition[146]. Stock Repurchase and Dividends - The company plans to repurchase shares using its own funds, with a maximum repurchase price set at 12 RMB per share[166]. - The company distributed a cash dividend of 2 CNY for every 10 shares, with no stock bonus or capital increase[193][195]. - The company reported a positive undistributed profit during the reporting period but did not propose a cash dividend distribution plan[196].