BOCO(SH:600289)2023-04-27 16:00Financial Performance - In 2022, the company reported a net profit attributable to shareholders of -350.19 million RMB, a significant decline compared to -200.69 million RMB in 2021, reflecting a decrease of 74.83%[6]. - The operating revenue for 2022 was 261.35 million RMB, down 33.46% from 392.78 million RMB in 2021[24]. - The net profit attributable to shareholders was RMB -350.19 million, primarily due to high operational costs and limited new business opportunities[36]. - Basic and diluted earnings per share for 2022 were both -0.5549 RMB, compared to -0.318 RMB in 2021[25]. - The company did not declare any profit distribution for 2022 due to the net loss incurred during the year[6]. - The company achieved a weighted average return on equity of -22.84%, a decrease of 10.60 percentage points year-on-year[26]. - The company reported a total revenue of RMB 261.35 million in 2022, a decrease of 33.46% compared to the previous year[35]. - The company recorded non-operating losses of RMB -166.45 million, reflecting various non-recurring expenses[31]. - The company reported a net profit of -85,280,000 yuan for Beijing Yiyang Xintong Technology Co., Ltd., indicating significant losses in its software development segment[91]. - The net profit attributable to the parent company was CNY -350.19 million, with a net profit of CNY -183.74 million after deducting non-recurring gains and losses[62]. Cash Flow and Assets - The net cash flow from operating activities was -15.44 million RMB, improving from -121.39 million RMB in the previous year[24]. - The total assets decreased by 11.83% to 2.14 billion RMB in 2022, down from 2.42 billion RMB in 2021[24]. - The company's net assets attributable to shareholders decreased by 17.07% to 1.40 billion RMB at the end of 2022, compared to 1.69 billion RMB at the end of 2021[24]. - The company reported cash flow from operating activities of RMB 75.33 million in Q4 2022, recovering from negative cash flows in previous quarters[27]. - Operating cash inflow decreased by 7.19% to ¥628,379,572.07 from ¥677,027,914.20[80]. - Operating cash outflow decreased by 19.36% to ¥643,816,314.56 from ¥798,415,304.55[80]. - Net cash flow from operating activities improved to -¥15,436,742.49 from -¥121,387,390.35[80]. - Investment cash inflow decreased by 53.07% to ¥262,476.30 from ¥559,320.81[80]. - Investment cash outflow increased by 132.70% to ¥7,479,761.26 from ¥3,214,391.56[80]. - Net cash flow from investing activities worsened to -¥7,217,284.96 from -¥2,655,070.75[80]. Business Operations and Strategy - The company has focused on optimizing its personnel structure and maintaining a leading market share in telecom operator information solutions[36]. - The company has made progress in expanding into vertical industries such as rail transit, energy grid, and industrial internet with new product offerings[36]. - The company participated in significant projects with major telecom operators, including winning multiple segments in China Mobile's procurement project[37]. - The company is committed to enhancing its core competencies in big data and artificial intelligence to support digital transformation across various industries[36]. - The company aims to break industry information barriers and promote modular product iterations in vertical industries such as energy grid, government education, and industrial internet[38]. - The company is focusing on developing next-generation network operation support systems based on 5G and AI, enhancing automation and intelligence capabilities in ICT business[100]. - The company is expanding its digital solutions by modularizing products, targeting non-telecom industries such as rail transportation and energy to increase profitability[105]. - The company is actively involved in international technical exchanges, participating in projects that have received nominations for industry awards[60]. - The company is developing industrial internet solutions based on digital twin technology to enhance real-time monitoring and decision-making capabilities[59]. - The company aims to enhance its market share in traditional telecom sectors while actively exploring new business growth points in vertical industries[101]. Research and Development - Research and development expenses increased by 12.61% to CNY 12.45 million, reflecting the company's commitment to innovation[62]. - The company has strengthened its R&D in artificial intelligence, aiming to enhance innovation capabilities across 22 application scenarios to support the development of self-intelligent network capabilities for three major telecom operators[40]. - The company established a research and development measurement system for the first time, filling a capability gap in IP new technology[42]. - The company obtained 39 new software copyrights and 20 new authorized invention patents in 2022, bringing the total to 986 software copyrights and 135 authorized invention patents[43]. - The company had 321 R&D personnel, making up 39.19% of the total workforce[78]. - The total capitalized R&D investment was 2,579,474.70, which is 2.03% of the total R&D expenses[77]. Governance and Compliance - The company faced disciplinary actions from the Shanghai Stock Exchange due to violations in information disclosure and internal control, resulting in public reprimands for several key individuals[130]. - The company’s actual controller was publicly deemed unsuitable to serve as a director, supervisor, or senior management for 10 years following the violations[130]. - The company’s internal control audit report received a negative opinion, indicating significant deficiencies in internal controls[149]. - The company has completed the rectification of issues identified in the self-inspection of corporate governance, including the appointment of dedicated internal audit personnel[150]. - The company has made progress in addressing past issues related to illegal guarantees and non-operating fund occupation, although not all have been fully resolved[150]. - The company has confirmed that there are no issues with the control of its subsidiaries, ensuring operational stability[148]. - The company has a diverse board with members having extensive experience in finance, technology, and management[120]. - The company is focused on maintaining stability in its leadership and ensuring consistent performance[120]. - The overall governance structure includes a mix of executive and independent directors to enhance decision-making processes[120]. Legal and Regulatory Issues - The company is currently involved in a bankruptcy reorganization process related to its controlling shareholder, with a total of 2.35 billion RMB in suspected illegal guarantees[10]. - The company is experiencing increased market competition, particularly as telecom operators become more cautious with their IT investments amid a slowdown in 5G network construction[110]. - There are ongoing significant litigation matters involving investor claims against the company, with multiple announcements made regarding the progress of these cases[171]. - The company has been ordered to pay a fine of 600,000 for information disclosure violations, with penalties also imposed on key executives[175]. - The company has ongoing litigation involving claims of 40,000 million and 20,000 million, with some cases still pending final judgment[173]. - The company has a contingent liability of 50% for certain claims, indicating potential financial exposure[174]. - As of the report date, the company is listed as a dishonest executor by the Shanghai Pudong New Area People's Court due to unresolved financing disputes with several entities[178]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 23,604, a decrease from 23,852 at the end of the previous month[186]. - The largest shareholder, Yiyang Group, holds 207,573,483 shares, representing 32.89% of the total shares, with 64,459,419 shares frozen[188]. - The total number of shares held by the top ten shareholders of Yiyang Group is 143,114,064 shares, with the largest shareholder being Yiyang Group Co., Ltd. holding 33,245,833 shares[189]. - The company repurchased a total of 18,298,501 shares, which represents approximately 1.24% to 1.85% of the total share capital[200]. - The planned repurchase amount was between RMB 40,000,000 and RMB 60,000,000, with the repurchase period from December 29, 2021, to June 28, 2022[200]. Environmental and Social Responsibility - The company did not invest any funds in environmental protection during the reporting period (0 million RMB)[152]. - The company has not established any environmental protection mechanisms and has not taken any carbon reduction measures[154]. - There were no significant environmental violations or penalties during the reporting period[152]. - The company has committed to avoiding any competitive activities that may harm the interests of the listed company and its minority shareholders[156]. - The company guarantees the integrity of the listed company's assets and the independence of its personnel[157].