Shenzhen Quanxinhao Co(SZ:000007)2025-04-24 15:20Shareholding and Ownership Structure - The company reported a total of 45,000,127 shares held by Hanfu Holdings, accounting for 12.99% of the total share capital[5]. - The company has no controlling shareholder or actual controller as of the latest report[20]. - The company has undergone multiple changes in its controlling shareholders over the years, with the latest change occurring in 2020[20]. - The largest shareholder, Hanfu Holdings, holds 12.99% of shares, amounting to 45,000,127 shares, with no changes during the reporting period[192]. - Shenzhen Boheng Investment Co., Ltd. holds 10.82% of shares, totaling 37,500,000 shares, with no changes during the reporting period[192]. - The top three shareholders collectively hold 33.59% of the total shares, indicating a significant concentration of ownership[192]. - The company has no controlling shareholder, as stated in the report, ensuring a diversified ownership structure[195]. - There were no changes in the controlling shareholder during the reporting period, maintaining stability in ownership[195]. - The report indicates that there were no repurchase transactions among the top ten shareholders during the reporting period[194]. - The company has not engaged in any share lending or borrowing activities among the top ten shareholders[193]. - The total number of shares held by the top ten unrestricted shareholders amounts to 145,000,000 shares, indicating a strong liquidity position[193]. - The shareholder structure remains stable, with no significant changes in the top ten shareholders' holdings during the reporting period[194]. - The company has no actual controller, and there is no change in the actual controller during the reporting period[196]. - The largest shareholder, Hanfu Holdings Limited, has pledged 0 million yuan in financing, which is intended to guarantee the payment of 159 million yuan for the remaining balance of a share transfer agreement[197]. - There are no other shareholders holding more than 10% of the shares[198]. - The company does not have any preferred shares during the reporting period[200]. Financial Performance - The company's revenue for 2024 reached ¥307,276,011.84, representing a 42.00% increase compared to ¥216,387,969.48 in 2023[22]. - Net profit attributable to shareholders for 2024 was ¥56,421,651.57, a significant increase of 56.86% from ¥35,969,277.16 in 2023[22]. - The basic earnings per share for 2024 was ¥0.16, reflecting a 60.00% increase from ¥0.10 in 2023[22]. - The company's total assets decreased by 19.94% to ¥318,805,983.54 at the end of 2024, down from ¥398,229,565.98 at the end of 2023[22]. - The net assets attributable to shareholders increased by 42.54% to ¥179,254,650.17 at the end of 2024, compared to ¥125,759,995.83 at the end of 2023[22]. - Operating cash flow net amount for 2024 was ¥199,918,045.57, a 4.88% increase from ¥190,607,652.82 in 2023[22]. - The company's weighted average return on equity for 2024 was 36.70%, up from 33.17% in 2023[22]. - The net profit after deducting non-recurring gains and losses for 2024 was ¥9,008,782.38, a decrease of 41.47% from ¥15,391,890.02 in 2023[22]. - In Q4, the company's operating revenue reached ¥153,050,317.38, showing a significant increase compared to previous quarters[26]. - The net profit attributable to shareholders in Q4 was ¥53,245,560.64, a substantial rise from earlier quarters[26]. - The net cash flow from operating activities in Q4 was ¥179,334,464.44, indicating strong cash generation capabilities[26]. - The company reported a total of ¥47,412,869.19 in non-recurring gains and losses for the year, compared to ¥20,577,387.14 in 2023[28]. Business Segments and Growth Areas - The automotive sales and service segment has become a significant business area, with the company gaining experience over nearly four years in this sector[34]. - The property management and leasing business remains stable, primarily located in Shenzhen's Huaqiangbei area, which is a competitive market[33]. - The health and hygiene product trade, particularly in sterilizing wipes, is experiencing growth due to rising health awareness and market demand[35]. - The company anticipates continued growth in the automotive sector, with a focus on expanding its service offerings[34]. - The overall market for property management is expected to grow, driven by digitalization and enhanced service quality[31]. - The company is exploring diversification into the health sector, despite facing challenges from intense competition[32]. - The company's total operating revenue for 2024 reached ¥307,276,011.84, representing a 42.00% increase compared to ¥216,387,969.48 in 2023[40]. - The automotive sales and services segment generated ¥248,363,824.35, accounting for 80.83% of total revenue, with a year-on-year growth of 63.67%[40]. - The real estate sector's revenue decreased by 5.23% to ¥43,809,882.42, contributing 14.26% to total revenue[40]. - The gross profit margin for the automotive sales and services sector was 5.20%, down 2.22% from the previous year[42]. - The company plans to invest ¥10 million to establish a wholly-owned subsidiary, Zhejiang Quanxin Hao Pharmaceutical Co., Ltd., to explore new profit growth points[36]. - The company has acquired patented technology from Japan's Eleten Co., Ltd. for its health products, enhancing its competitive edge in the market[36]. - The company reported a 47.42% increase in domestic revenue, totaling ¥293,369,335.23, while overseas revenue decreased by 19.99% to ¥13,906,676.61[40]. - The company aims to leverage its existing resources to diversify into the health and automotive sectors, supported by government policies[36]. Management and Governance - The company has established a strong management team with extensive industry experience, which is crucial for sustainable growth[37]. - The company’s governance structure complies with regulatory requirements, ensuring independent operations without a controlling shareholder[76]. - The company held its annual general meeting with a participation rate of 23.11%, reflecting shareholder engagement in corporate governance[77]. - The company reported a total of 0 shares held by directors and senior management at the beginning and end of the period, indicating no changes in shareholding[78]. - Several key executives, including the General Manager and multiple directors, have resigned for personal reasons, effective between October 8 and December 6, 2024[80]. - The company has experienced a complete turnover in its board of directors, with all resignations occurring within a short timeframe[80]. - The financial director position has seen two resignations, with one effective August 30, 2024, and another on December 6, 2024[80]. - The company has not reported any changes in shareholding percentages among its directors and senior management during the reporting period[79]. - The current board members and senior management have not made any significant changes to their shareholdings, maintaining a status quo[78]. - The company is in a transition phase with the departure of several key personnel, which may impact future strategic decisions[80]. - The company has not disclosed any new product developments or market expansion strategies during this reporting period[79]. - There is no indication of mergers or acquisitions being pursued by the company in the near future[79]. - The company has not provided any specific performance guidance or outlook for the upcoming quarters[79]. Legal and Compliance Matters - The company has resolved historical litigation issues, clearing obstacles for future development and enhancing its financing capabilities for industry mergers and acquisitions[70]. - The company reported a significant arbitration case involving a claim for CNY 1,000,000 in principal and CNY 1,100,958.9 in overdue payment penalties, which has been settled[156]. - The company is involved in ongoing arbitration related to a compensation claim of RMB 159 million, with a portion already paid amounting to RMB 95 million[176]. - A court ruling dismissed a claim for RMB 4,049,115.30 related to a profit distribution dispute, with the court freezing assets of the company and its subsidiary[177]. - The company has provided guarantees totaling RMB 116.3 million for its subsidiaries, with RMB 23.6872 million utilized during the reporting period[177]. - The company is facing a lawsuit regarding a historical debt of RMB 1 million, which has been withdrawn by the plaintiff[179]. - The company has not experienced any penalties or rectification situations during the reporting period[160]. - The company has no reported legal or regulatory issues with its board members or supervisors, ensuring compliance with relevant laws[83][84][86]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[126]. - The company emphasizes social responsibility and sustainable development, aiming for harmonious growth with society[127]. - The company adheres to legal regulations to protect shareholder rights and ensures timely and accurate information disclosure[127]. - Employee rights are prioritized, with the company providing social insurance and a clear promotion system[127]. Remuneration and Employee Matters - The total pre-tax remuneration for the board of directors, supervisors, and senior management during the reporting period amounted to CNY 4.2306 million[102]. - The highest remuneration was received by the Vice Chairman, Huang Guoming, totaling CNY 113.1 thousand[102]. - The Chairman, Zou Lin, did not receive any remuneration from the company[102]. - The General Manager, Tang Qian, received a pre-tax remuneration of CNY 14.73 thousand[102]. - The remuneration for independent directors, Li Xiaofeng and Yu Jingkang, was CNY 1.25 thousand each[102]. - The remuneration for the Supervisor, Sun Hua, was CNY 33.05 thousand[102]. - The total remuneration for the departing General Manager, Lu Bo, was CNY 66.32 thousand[102]. - The remuneration for the departing financial director, Chen Gui, was CNY 21.71 thousand[102]. - The remuneration structure is determined by the company's compensation committee based on position, responsibility, and market salary levels[100]. - Non-salaried directors and supervisors receive fixed allowances approved by the board and shareholders' meeting[100]. - The total number of employees at the end of the reporting period is 146, with 20 from the parent company and 126 from major subsidiaries[113]. - The employee composition includes 26 sales personnel, 52 technical staff, 26 financial staff, and 42 administrative personnel[113]. - The company has no retired employees requiring pension expenses, indicating a fully active workforce[113]. - Employee training programs are organized based on strategic development and operational needs[115]. Internal Control and Risk Management - The internal control system has been updated and is effective in preventing operational risks, covering all major business areas[119]. - The internal control evaluation report will be fully disclosed on April 25, 2025, with 100% of the evaluated units' assets included in the consolidated financial statements[121]. - The company has maintained effective internal control over financial reporting as of December 31, 2024, according to the internal control audit report[123]. - There were no significant defects or important defects identified during the internal control self-assessment conducted by the company[124]. - The company is focused on enhancing its internal control and risk management systems as part of its strategic initiatives[106]. - The board has emphasized the importance of professional opinions in decision-making processes to improve management standards[106]. Strategic Initiatives and Future Outlook - The company aims to enhance its operational capabilities and profitability through four strategic initiatives, including stabilizing existing operations and exploring new business opportunities via its subsidiary, Shenzhen Quanxin Good Private Equity Investment Fund Management Co., Ltd.[70]. - The company plans to strengthen governance compliance and improve communication with investors to enhance transparency and build investor confidence[70]. - The company is focused on maintaining a debt-to-equity ratio below 0.5, ensuring financial stability[96]. - The company has implemented cost-cutting measures that are expected to reduce operational expenses by 10% over the next fiscal year[94]. - The performance guidance for the upcoming fiscal year indicates a projected revenue growth of approximately 15%[139]. - Future outlook includes strategic market expansion and potential mergers and acquisitions to enhance competitive positioning[139]. - The company is focused on developing new products and technologies to drive growth and innovation in the market[139]. Related Party Transactions and Commitments - The company commits to maintaining an independent financial accounting department and management system, ensuring no shared bank accounts with the disclosing parties[134]. - The company guarantees to avoid any related party transactions unless necessary, ensuring fair pricing and compliance with legal regulations[132]. - The company will continue to operate independently in terms of assets, personnel, and business operations, with no mixed operations or unclear asset ownership[134]. - The company ensures that the disclosing parties will not utilize their knowledge of the company to assist third parties in competing businesses[131]. - The company will compensate for any losses incurred due to violations of commitments by the disclosing parties[133]. - The company will maintain a complete and independent organizational structure, with governance bodies acting independently according to laws and regulations[134]. - The company will ensure that the disclosing parties do not seek preferential treatment or rights over transactions with the company[132]. - The company will continue to have an independent tax status and make independent financial decisions[134]. - The company commits to avoiding any illegal occupation of its assets and will not require guarantees from the company under any circumstances[132]. - The company maintains an independent operational management system, ensuring asset, personnel, financial, institutional, and business independence[135]. - The company commits to avoiding and minimizing related party transactions, adhering to market principles and legal procedures[136]. - The company will not engage in any business that competes directly or indirectly with its own operations[136]. - Any business opportunities that may compete with the company must be reported to the company, which will have the first right of refusal[137]. - The company has made commitments to provide guarantees for any economic losses incurred due to non-compliance with these commitments[137]. Acquisitions and Investments - The company acquired 100% equity of Nantong Yaozhong Automobile Co., Ltd. for ¥15.53 million on August 1, 2024, to enhance profitability and sustainable development[45]. - The company completed the acquisition of Jiasan Asset Management and is in the process of integrating its operations[139]. - The company plans to acquire 66.67% equity in Mingya Insurance Brokerage Co., Ltd. through its subsidiary Jiasan Asset Management[139]. - The company is pursuing a claim for RMB 27 million in principal repayment from the respondent[158]. - The overdue payment penalty calculated until May 13, 2019, amounts to RMB 30.262726 million[158]. - Legal fees incurred by the company for the case are estimated at RMB 3.013136 million[158]. - The company is in the process of auditing the net assets of Nantong Yaozhong to ensure shareholder interests are protected[181]. - The company’s board approved the acquisition of Nantong Yaozhong based on the financial audit report dated June 18, 2024[181]. - The company has not yet received the refund related to the acquisition adjustment[182].