ZYSC(SH:600280)2021-04-28 16:00Financial Performance - The company reported a total revenue of RMB 3.18 billion for 2020, a decrease of 60.72% compared to RMB 8.10 billion in 2019[21]. - The net profit attributable to shareholders was RMB 81.38 million, a significant improvement from a loss of RMB 588.33 million in the previous year[21]. - Basic and diluted earnings per share were RMB 0.07, recovering from a loss of RMB 0.51 per share in 2019[22]. - The company achieved operating revenue of 3.183 billion RMB, a year-on-year decrease of 60.72%[30]. - The net profit attributable to the parent company was 81.3771 million RMB, compared to a loss of 588.3311 million RMB in the same period last year[30]. - The net profit attributable to the parent company after deducting non-recurring gains and losses was -26.0578 million RMB, compared to -543.9544 million RMB in the same period last year[30]. - The decrease in revenue was primarily due to the impact of COVID-19, which led to varying degrees of store closures and a reduction in sales revenue in the department store segment, resulting in a gross profit decrease of 181 million RMB[30]. - The company reported a significant increase in net profit from subsidiaries, with some showing over 30% change compared to the previous year[79]. - The company reported a net loss of CNY 641,860,509.03, improving from a loss of CNY 708,360,197.02 in the previous year[172]. - The company reported a comprehensive income total of 88,277,064.81 RMB for 2020, compared to a loss of 603,388,150.93 RMB in 2019[190]. Cash Flow and Liquidity - The net cash flow from operating activities was RMB 60.07 million, down 88.18% from RMB 508.34 million in 2019[21]. - The company's cash and cash equivalents decreased by 44.09% to ¥650.66 million, primarily due to reduced sales collections[67]. - The net cash flow from operating activities decreased significantly to -9,197,221.77 RMB in 2020 from 66,421,706.27 RMB in 2019, representing a decline of approximately 113.8%[188]. - Cash flow from financing activities resulted in a net outflow of ¥195,685,558.41, an improvement from a larger outflow of ¥735,751,093.53 in 2019[186]. - The ending balance of cash and cash equivalents increased to 153,871,246.35 RMB in 2020 from 124,115,223.34 RMB in 2019, marking a rise of 23.9%[188]. - The company's current liabilities exceed current assets, with a total of 3,891.76 million yuan, indicating significant liquidity risk[161]. Assets and Liabilities - Total assets decreased by 13.91% to RMB 13.14 billion from RMB 15.26 billion in 2019[21]. - Total liabilities decreased to CNY 12,173,232,541.94, down 15.3% from CNY 14,385,595,743.30 in the previous year[172]. - The book value of inventory, including development costs and products, is 6,301.44 million yuan, with a provision for inventory impairment of 450.22 million yuan[162]. - The company has recorded a provision for expected liabilities amounting to 737,152.00 RMB due to historical issues related to guarantees provided to non-related parties[114]. Business Strategy and Operations - The company plans to reinvest profits into upgrading and renovating older department stores, opting not to distribute dividends this year[5]. - The company is focusing on enhancing the competitiveness of its department store chain and expanding its convenience store business through strategic cooperation with "Lawson"[33]. - The company is actively preparing to open new stores and upgrading existing store functions to improve shopping experiences[33]. - The company is focusing on digital transformation and enhancing data collection and analysis capabilities[48]. - The company aims to enhance its brand through a light-asset operation model and improve employee training to boost overall professional quality[87]. - The company plans to enhance its market expansion strategies and invest in new product development to drive future growth[167]. Risks and Legal Matters - The company has identified potential risks related to future plans and strategies, advising investors to be cautious[6]. - The company reported a significant lawsuit involving a subsidiary, with a claim amounting to ¥12,945,141.94[103]. - The company has a pending lawsuit with Jiangsu Xinlongxing Construction Group, with a claim amount of ¥5,915.54[105]. - The company has signed a settlement agreement regarding a lawsuit with Shenzhen Zhongzhuang Construction Group, involving a claim amount of ¥1,433.31[105]. Corporate Governance and Shareholder Information - The company has established a comprehensive corporate governance structure in accordance with relevant laws and regulations[146]. - The total number of ordinary shareholders at the end of the reporting period was 35,620, an increase from 33,016 at the end of the previous month[120]. - The largest shareholder, Zhu Yicai, holds 476,687,416 shares, representing 41.51% of the total shares, with all shares frozen[123]. - The company has not disclosed any new employee incentive plans or stock ownership plans during the reporting period[107]. - The company has a diverse board with members having extensive experience in various industries, including retail and finance[136]. Employee and Social Responsibility - The company employed a total of 2,990 staff, with 858 in the parent company and 2,644 in major subsidiaries[140]. - The company actively fulfills its social responsibilities, respecting the rights of stakeholders and engaging in community cooperation[118]. - The company has conducted targeted training programs for employees to enhance efficiency and management skills[142].