ZJDR(SH:600113)2020-04-17 16:00Financial Performance - In 2019, the company achieved a net profit of RMB 179,890,129.29, with a 10% statutory surplus reserve of RMB 17,989,012.93 deducted, resulting in a distributable profit of RMB 382,482,833.25 for shareholders[7]. - Revenue for 2019 reached ¥498,371,052.15, an increase of 19.25% compared to 2018[21]. - Net profit attributable to shareholders increased by 30% to ¥136,071,112.57, driven by over 20% growth in transaction fee income from vegetable wholesale markets[23]. - Total profit amounted to CNY 181.48 million, marking a 29.07% increase from the previous year[50]. - The company reported a net profit of 12,484.81 million CNY in 2019, with total assets amounting to 6,945.20 million CNY and net assets of 6,233.76 million CNY[71]. - The company achieved a net profit of 136,071,112.57 RMB for the year, contributing positively to the overall equity position[180]. - The total comprehensive income for 2019 was CNY 179,890,129.29, an increase from CNY 15,468,022.60 in the previous year[171]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.50 per 10 shares, amounting to a total of RMB 20,571,558.00 based on the total share capital of 411,431,160 shares as of December 31, 2019[7]. - In 2019, the company distributed a cash dividend of 0.50 RMB per 10 shares, with a payout ratio of 15.12% of net profit attributable to shareholders[84]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm, affirming the accuracy and completeness of the financial statements[6]. - The company’s financial report has been confirmed by its board of directors, ensuring accountability for the accuracy of the information presented[9]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties, ensuring financial integrity[8]. - The internal control audit report confirmed the effectiveness of financial reporting internal controls as of December 31, 2019, with a standard unqualified opinion issued[144]. Market Position and Strategy - The company plans to continue expanding its market presence and developing new products to sustain growth[23]. - Approximately 60%-70% of agricultural products in China are distributed through wholesale markets, highlighting the critical role of the company in the agricultural supply chain[32]. - The company is actively pursuing an external expansion and acquisition strategy, having successfully completed a share placement to finance market expansion projects[44]. - The company is exploring investments in agricultural wholesale markets in Wenzhou and surrounding areas to enhance its market presence[79]. Operational Efficiency - The company has implemented a refined management model to ensure clear responsibilities and effective management across its operations[43]. - The company’s logistics and distribution operations are supported by a comprehensive ERP system, optimizing workflows and enhancing service delivery[39]. - The company is enhancing its operational capabilities through the integration of modern technologies such as IoT and big data, aiming for improved efficiency in agricultural product circulation[39]. Risks and Challenges - The company has outlined potential risks in its future development, which are detailed in the management discussion and analysis section of the report[8]. - The company recognizes the risks posed by macroeconomic fluctuations and market competition, particularly from emerging e-commerce and direct sales models[78]. - The competitive landscape in the agricultural wholesale market is intensifying, necessitating strategies to maintain operational advantages[79]. - The company faces risks related to declining rental and service fees, which could adversely affect its revenue from market operations[80]. Shareholder Information - The total number of ordinary shareholders increased from 30,579 to 31,598 during the reporting period[110]. - Zhejiang Dongfang Group holds 49.29% of the shares, totaling 202,807,800 shares[112]. - The company has no identified relationships or concerted actions among the top ten shareholders[112]. Employee and Management Structure - The company employed a total of 796 staff, with 576 in production, 26 in sales, 43 in technical roles, 43 in finance, and 108 in administration[132]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period was 4.9339 million yuan[128]. - The company has established a governance structure that complies with the requirements of the Company Law and Securities Law[136]. Financial Position - Total assets increased significantly, with investments in real estate rising by 468.04% to 423.53 million yuan, primarily due to the purchase of agricultural market assets[63]. - The company’s total liabilities increased by 70.61% to 25.85 million yuan, primarily due to the increase in accounts payable related to the distribution business[63]. - The company’s total assets reached CNY 738,057,312.85, reflecting a solid asset base for future growth[188]. Future Outlook - The company aims to achieve an annual revenue of over 450 million CNY in 2020, despite potential profit declines due to the impact of the pandemic[77]. - Future guidance suggests continued revenue growth, with expectations of maintaining a double-digit growth rate in the upcoming fiscal year[167].