Y.I.C.(SH:600119)2022-04-27 16:00Financial Performance - The company's operating revenue for 2021 was CNY 1,100,751,029.41, representing a 120.39% increase compared to CNY 499,465,181.41 in 2020[20]. - The net profit attributable to shareholders was CNY -135,051,832.86, a decline from CNY -96,871,375.66 in the previous year[20]. - The cash flow from operating activities increased by 254.16% to CNY 94,378,369.03, up from CNY 26,648,205.73 in 2020[21]. - The company reported a significant increase in revenue from core business activities, with a total of CNY 1,098,032,223.52, up 121.61% from the previous year[20]. - The company achieved an operating income of 1.1 billion RMB in 2021, while the net profit attributable to shareholders was -135.05 million RMB[30]. - The basic and diluted earnings per share for 2021 were both -0.37 RMB, compared to -0.32 RMB in 2020[22]. - The weighted average return on equity improved to -48.46% in 2021 from -63.35% in 2020, an increase of 14.89 percentage points[22]. - The company reported quarterly revenues of 242.14 million RMB in Q1, 211.67 million RMB in Q2, 300.29 million RMB in Q3, and 346.65 million RMB in Q4 of 2021[23]. - The company recognized impairment losses totaling 115.02 million yuan, significantly impacting net profit due to uncertainties in mining rights[60]. - A goodwill impairment loss of 102.61 million yuan was recorded, reducing net profit attributable to shareholders by 51.30 million yuan[62]. Assets and Liabilities - Total assets decreased by 18.64% to CNY 811,014,493.41 at the end of 2021, down from CNY 996,851,375.38 at the end of 2020[21]. - The net assets attributable to shareholders decreased by 39.16% to CNY 211,342,617.69 at the end of 2021, compared to CNY 347,371,220.51 at the end of 2020[21]. - The total assets at the end of 2021 amounted to 811.01 million RMB, with total liabilities of 440.33 million RMB, and equity attributable to shareholders of the listed company was 211.34 million RMB[30]. - Cash and cash equivalents at the end of the period amounted to 194,434,697.73 RMB, representing 23.97% of total assets, an increase of 27.21% from the previous period[69]. - Trade financial assets increased by 60.00% to 53,385,476.13 RMB, primarily due to year-end financial management activities[69]. - Accounts receivable decreased by 27.44% to 242,821,399.40 RMB, mainly due to the reduction in the scope of consolidation from the disposal of the subsidiary[69]. - Total liabilities decreased by 25.50% in short-term borrowings to 171,508,444.43 RMB, reflecting the repayment of part of the borrowings[69]. - The company reported a significant decrease in goodwill by 68.20% to 23,924,550.74 RMB, attributed to goodwill impairment provisions[69]. Governance and Compliance - The board of directors confirmed the authenticity and completeness of the financial report, ensuring no significant omissions or misleading statements[4]. - The company has outlined potential risks in its management discussion and analysis section, advising investors to be cautious[7]. - The company completed the election of the board of directors and the supervisory board in April 2021, ensuring compliance with legal and regulatory requirements[84]. - The supervisory board diligently performed its supervisory functions, overseeing the operations of the board of directors and senior management, as well as monitoring financial conditions and periodic report preparation[85]. - The company maintained independence from its controlling shareholder, with no guarantees provided to the controlling shareholder or its affiliates during the reporting period[85]. - The company revised its articles of association and related governance documents to enhance corporate governance and ensure orderly operations of the shareholders' meetings[86]. - The company established a management and performance assessment system for leadership compensation, aligning with regulatory requirements[87]. - The audit committee held 6 meetings during the reporting period, ensuring the accuracy and completeness of the 2020 financial statements, which reflect the company's financial condition and operating results without any fraud or significant misstatements[110]. Strategic Initiatives - The company is focusing on enhancing management and control over subsidiaries to improve quality and efficiency[30]. - The company plans to strengthen its governance mechanisms and improve internal control systems for better compliance with management requirements[30]. - The company has implemented comprehensive budget management and strengthened financial control over Shihao International to minimize arbitration impacts on its future development[31]. - Longfa International Freight has focused on enhancing service capabilities and efficiency, particularly in the photovoltaic and chemical logistics sectors, to capitalize on market opportunities amid high freight rates[31]. - The company aims to leverage opportunities in the automotive logistics sector, particularly with the rise of new energy vehicles, to expand market share and enhance service quality[77]. - The company plans to stabilize existing operations while exploring new business opportunities, focusing on improving management capabilities and reducing operational risks[80]. - The company is committed to high-quality development during the "14th Five-Year Plan" period, addressing historical issues and restoring profitability[79]. - The company will continue to optimize its business structure and improve client management to enhance operational efficiency and profitability[80]. Social Responsibility and Community Engagement - The company allocated 100,000 RMB for poverty alleviation and infrastructure projects in Menglong Village, Yunnan Province, with specific construction plans including 33 square meters of concrete surface and 3,000 meters of water barriers[134]. - The company has committed to social responsibility initiatives, focusing on employee welfare, safety, and community support, including participation in the "Hundred Enterprises Help Hundred Villages" program[132]. - The company has been recognized for its contributions to epidemic prevention efforts during the COVID-19 pandemic, receiving accolades for its operational support[133]. - The company emphasizes a people-oriented approach in its management, focusing on employee development and social responsibility awareness[132]. Financial Management and Investments - The company approved the use of idle self-owned funds for short-term wealth management products up to RMB 10,000 million in April 2020 and increased the limit to RMB 17,000 million in April 2021[157]. - The company invested RMB 10,850 million in bank wealth management products with a remaining balance of RMB 9,550 million[156]. - The company engaged in various wealth management activities with annualized returns ranging from 1.3% to 3.54%[160]. - The company has a total of RMB 20,100 million in government bond reverse repos with an annualized return of 2.08%[160]. - The company has a total of RMB 50,000 million in structured deposits with annualized returns between 1.40% and 3.40%[160]. - The company has a total of RMB 8,000 million in notice deposit business with an annualized return of 0.3% to 2.025%[160]. - The company has a total of RMB 15,000 million in structured deposits with an annualized return of 1.3% to 3.42%[160]. - The company has no overdue amounts in its wealth management activities[156]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 20,919, a decrease from 22,248 at the end of the previous month[175]. - The top shareholder, Changjiang Economic United Development (Group) Co., Ltd., held 167,418,761 shares, representing 45.83% of total shares, with an increase of 57,870,370 shares during the reporting period[177]. - The company issued 57,870,370 new shares at a price of 4.32 RMB per share on January 7, 2021[173]. - The report indicates that there are no changes in the controlling shareholder or actual controller during the reporting period[182]. - The company has no existing employee stock ownership plans[175]. Employee and Management Structure - The company reported a total of 413 employees, with 27 in the parent company and 386 in major subsidiaries[117]. - The employee composition includes 240 production personnel, 34 sales personnel, 50 technical personnel, 26 financial personnel, and 63 administrative personnel[118]. - The company has established a performance evaluation mechanism for senior management, linking compensation to operational performance and key objectives[119]. - The company's management team has extensive experience in finance and investment, with several members holding key positions in other financial institutions[100]. - The company’s governance structure includes a mix of experienced professionals from diverse backgrounds in finance and management[100].