CTCG(SH:600358)2021-04-18 16:00Financial Performance - The company achieved a net profit attributable to shareholders of CNY 14,494,505.46 in 2020, a significant recovery from a net loss of CNY 190,094,288.44 in 2019[5]. - Operating revenue for 2020 was CNY 522,299,747.01, representing a 47.14% increase compared to CNY 354,970,862.79 in 2019[21]. - In 2020, the company achieved a turnaround with a basic earnings per share of CNY 0.0287, compared to a loss of CNY 0.3765 in 2019[22]. - The weighted average return on equity increased to 6.02% in 2020, up by 59.04 percentage points from -53.02% in 2019[22]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, was CNY -17,306,300.18, with total operating revenue of CNY 522,299,747.01 in 2020[23]. - The company reported a net profit attributable to ordinary shareholders of RMB 14,494,505.46 in 2020, with no cash dividend distribution proposed[78]. - The net profit for 2020 was ¥20,106,070.72, a turnaround from a net loss of ¥187,255,628.06 in 2019[178]. Assets and Liabilities - The company's net assets attributable to shareholders decreased by 37.79% to CNY 145,337,648.44 at the end of 2020, down from CNY 233,633,027.82 at the end of 2019[21]. - Total assets decreased by 8.20% to CNY 512,924,400.91 at the end of 2020, compared to CNY 558,715,779.77 at the end of 2019[21]. - Total liabilities rose to CNY 353,283,593.22 from CNY 246,189,188.08, marking an increase of approximately 43.5%[170]. - The company's equity attributable to shareholders decreased to CNY 145,337,648.44 from CNY 233,633,027.82, a decline of about 37.8%[171]. - The total assets of the company as of the end of 2020 were ¥733,903,038.54, compared to ¥611,459,248.90 in 2019, marking a growth of approximately 20%[175]. - The total liabilities for 2020 were ¥251,497,682.37, significantly higher than ¥119,075,863.72 in 2019, indicating increased leverage[175]. Cash Flow - The company reported a net cash flow from operating activities of CNY -51,662,026.71 in 2020, worsening from CNY -42,120,779.23 in 2019[21]. - The company reported a cash flow from operating activities of CNY 49,665,768.65 in Q4 2020, following negative cash flows in the first three quarters[26]. - The cash flow from operating activities showed a net outflow of CNY 51,662,026.71 in 2020, worsening from a net outflow of CNY 42,120,779.23 in 2019[185]. - Cash flow from financing activities resulted in a net inflow of CNY 66,776,668.40 in 2020, compared to a net outflow of CNY 11,756,836.87 in 2019[186]. - The ending cash and cash equivalents balance for 2020 was 7,738,113.63, compared to 128,000.18 in 2019, showing a significant increase[190]. Operational Risks and Challenges - The company faces various operational risks as detailed in the report, which investors are advised to consider[10]. - The company anticipates risks from market demand fluctuations and intensified competition in the tourism consumption sector[74]. - The company is currently involved in ongoing litigation, which may impact its financial performance[95]. - The company is actively managing its legal expenses and liabilities to mitigate financial risks[95]. Shareholder and Governance - The total number of ordinary shareholders at the end of the reporting period was 29,224, an increase from 28,273 at the end of the previous month[112]. - The largest shareholder, Jiangxi Tourism Group Co., Ltd., holds 98,803,000 shares, representing 19.57% of the total shares[115]. - The company has no strategic investors or general legal entities among the top 10 shareholders[116]. - The actual controller of the company is the Jiangxi State-owned Assets Supervision and Administration Commission[117]. - The company has not reported any changes in the actual controller during the reporting period[117]. Research and Development - Research and development expenses surged by 128.33% to 5.64 million yuan, attributed to an increase in R&D personnel and their salaries[44]. - R&D expenses totaled ¥5.64 million, accounting for 1.08% of total revenue, with 35 R&D personnel representing 21.34% of the total workforce[56]. Future Plans and Commitments - The company plans to achieve an operating income of 957.29 million yuan in 2021, representing a year-on-year growth of 83.28%[73]. - The company aims to optimize its asset structure through project investments and mergers to enhance profitability and risk resistance[71]. - The company is committed to enhancing investor relations and maintaining investor confidence[80]. Legal Matters - The company is involved in multiple ongoing lawsuits, including a claim for economic damages of RMB 20 million related to a shareholder dispute[90]. - The company is seeking the return of a double deposit totaling RMB 243,970,892.38 from several defendants in a stock transfer dispute[90]. - The company has a pending lawsuit regarding the return of 5.1 million shares of stock, with the case still under review[90]. - The company is actively pursuing legal actions to recover debts and enforce judgments from previous cases[93]. Internal Control and Audit - The internal control audit was also conducted by Asia-Pacific (Group) CPA Firm, with a fee of RMB 250,000[88]. - The company has not disclosed any significant defects in internal control during the reporting period[146]. - The audit opinion confirmed that the financial statements fairly represent the company's financial position as of December 31, 2020[152].