Hunan (SH:600476)2020-04-27 16:00Financial Performance - In 2019, the company reported a revenue of ¥294,797,161.45, a decrease of 5.02% compared to ¥310,363,836.99 in 2018[21]. - The net profit attributable to shareholders was -¥64,235,909.56, a significant decline from a profit of ¥1,634,640.81 in 2018, representing a decrease of 4,029.67%[21]. - The net profit after deducting non-recurring gains and losses was -¥68,891,082.32, compared to -¥2,355,035.88 in the previous year[21]. - Basic earnings per share for 2019 was -0.399 CNY, a decrease of 4,088.00% compared to 0.010 CNY in 2018[22]. - The weighted average return on equity decreased by 33.01 percentage points to -32.20% in 2019 from 0.810% in 2018[22]. - The company reported a net profit attributable to the parent company of -64,235,909.56 RMB for 2019, resulting in a total distributable profit of -143,019,319.66 RMB, leading to no profit distribution for the year[82]. - The company reported a net loss of ¥63,897,478.15 for 2019, compared to a net profit of ¥3,435,327.51 in 2018, indicating a significant decline in profitability[178]. - Total operating revenue decreased to ¥294,797,161.45 in 2019 from ¥310,363,836.99 in 2018, reflecting a year-over-year decline of approximately 5.5%[178]. - Operating profit for 2019 was a loss of CNY 62,953,172.46, compared to a profit of CNY 1,784,050.95 in 2018[175]. - The company recorded a total comprehensive loss of ¥63,897,478.15 for the year, contrasting with a comprehensive income of ¥33,261,844.73 in the previous year[179]. Cash Flow and Liquidity - The cash flow from operating activities was positive at ¥4,026,945.99, recovering from a negative cash flow of -¥4,609,013.93 in 2018[21]. - The company reported a net cash flow from operating activities of -44,282,488.85 CNY for the year 2019[24]. - The net cash flow from operating activities for 2019 was ¥4,026,945.99, a significant improvement from a net outflow of ¥4,609,013.93 in 2018[182]. - Total cash inflow from operating activities increased to ¥416,233,556.65 in 2019, up from ¥333,474,018.39 in 2018, representing a growth of approximately 25%[182]. - The total cash outflow for operating activities was ¥412,206,610.66 in 2019, up from ¥338,083,032.32 in 2018, reflecting a 22% increase[182]. Assets and Liabilities - Total assets decreased by 23.32% to ¥410,692,699.22 from ¥535,588,183.00 in 2018[21]. - Total liabilities decreased to CNY 243,270,156.82 from CNY 303,927,264.89 in 2018, reflecting a reduction of about 20%[169]. - The company's cash and cash equivalents were CNY 82,208,713.55, down from CNY 98,732,359.24 in the previous year, indicating a decrease of approximately 16.7%[167]. - Accounts receivable decreased significantly to CNY 115,266,790.43 from CNY 180,506,494.81, a decline of about 36.2%[167]. - The company's total equity decreased to CNY 167,422,542.40 from CNY 231,660,918.11, a decline of about 27.7%[169]. Research and Development - Research and development expenses increased by 206.20% to CNY 8.64 million, driven by the company's transformation and development efforts[45]. - The company has established a comprehensive product development system, integrating product definition, technical breakthroughs, prototype development, iterative development, joint debugging, testing, and operational promotion[33]. - The company reported a significant increase in research and development expenses, rising to ¥8,637,495.84 in 2019, compared to ¥2,820,909.00 in 2018, marking an increase of approximately 206%[178]. Business Strategy and Operations - The company plans not to distribute profits for 2019 due to negative retained earnings of -¥143,019,319.66[5]. - The management highlighted potential risks related to market conditions and customer demand in their future outlook[7]. - The company achieved a 135% increase in new contract amounts for financial software business compared to the previous year[32]. - The platform operation service business adopted a "platform+" model, focusing on new business growth points related to vehicle operations[31]. - The company is actively developing new generation software platforms, including a new stamp collection platform and a geographic resource information platform[32]. Governance and Compliance - The audit report issued by Tianzhi International Accounting Firm confirmed the financial statements without reservations[4]. - The company emphasized its commitment to corporate governance and compliance with laws and regulations, ensuring fair information disclosure to all shareholders[105]. - The company has maintained compliance with information disclosure regulations, ensuring equal access to information for all investors[140]. - The company has not disclosed any non-standard audit opinions or significant accounting policy changes during the reporting period[87]. Shareholder Information - The total number of common stock shareholders at the end of the reporting period is 26,283, an increase from 24,492 at the end of the previous month[110]. - The largest shareholder, Beijing Zhongyou Asset Management Co., Ltd., holds 53,128,388 shares, representing 32.98% of total shares[112]. - The company has not reported any significant changes in shareholding for the current year among directors and senior management[121]. Legal Matters - The company successfully won a lawsuit against Tiande Real Estate Development Co., Ltd. for a cooperation payment of 5,782,000 CNY plus interest and legal fees, with the court ruling that Tiande must pay within seven days of the judgment[96]. - The company has initiated legal proceedings to recover unpaid amounts totaling 2,020,000 CNY from Zhuzhou Xinglian Technology Co., Ltd.[94]. - The company has no outstanding court judgments or significant debts due as of the end of the reporting period[95].