QJCT(SH:600706)2022-05-23 16:00Financial Performance - The company reported a net profit of -5,054,384.24 RMB for the year ending December 31, 2021, resulting in a total accumulated undistributed profit of -21,197,825.13 RMB[7]. - The company’s operating revenue for 2021 was CNY 1,365,356,307.59, representing a year-on-year increase of 21.76% compared to CNY 1,121,378,396.37 in 2020[21]. - The net profit attributable to shareholders for 2021 was CNY 7,405,625.82, a significant recovery from a loss of CNY 71,598,583.70 in 2020[21]. - The net cash flow from operating activities reached CNY 189,950,645.35, marking a substantial increase of 299.76% from CNY 47,515,772.03 in 2020[21]. - The total assets at the end of 2021 amounted to CNY 3,755,700,815.34, reflecting a 15.13% increase from CNY 3,262,266,891.87 at the end of 2020[21]. - The basic earnings per share for 2021 was CNY 0.03, a recovery from a loss of CNY 0.33 per share in 2020[22]. - The weighted average return on equity increased to 0.71% in 2021, up by 7.60 percentage points from -6.89% in 2020[22]. - The company reported a net profit of CNY 31,444,142.28 in Q4 2021, contrasting with losses in the earlier quarters[25]. - The net assets attributable to shareholders at the end of 2021 were CNY 1,210,495,636.49, an increase of 20.85% from CNY 1,001,678,947.99 at the end of 2020[21]. Corporate Governance - The company is committed to ensuring the authenticity, accuracy, and completeness of the annual report, with all board members present at the meeting[7]. - The company maintains independence from its controlling shareholder in business, personnel, and financial aspects[99]. - The company has emphasized the importance of compliance with legal and regulatory requirements during the election of board members and management[105]. - The company’s governance structure has been reinforced with the appointment of experienced individuals in key positions, enhancing operational efficiency[107]. - The company has demonstrated a commitment to transparency and accountability in its corporate governance practices[107]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 2.252 million yuan[111]. - The company has no record of penalties from securities regulatory agencies in the past three years[113]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, highlighting potential risks in the management discussion section[7]. - The company faces risks from public health events like COVID-19, which significantly impact the tourism industry[93]. - Seasonal factors and macroeconomic trends closely affect the company's operations, leading to potential industry risk[93]. - The company is enhancing accounts receivable management to mitigate risks associated with delayed payments from management fees[93]. - Investment projects are based on thorough market research, but uncertainties in the economic and policy environment may affect expected returns[93]. Strategic Initiatives - The company plans to continue enhancing its cultural and tourism offerings, anticipating a gradual recovery in the tourism sector[44]. - The company aims to enhance its operational capabilities and project management to ensure sustainable development and growth in the tourism sector[91]. - The company plans to accelerate its "going out" strategy, focusing on collaboration and innovation to strengthen its market position[90]. - The company is focusing on new product development and technological advancements to enhance market competitiveness[36]. Acquisitions and Investments - The company acquired 100% equity of Xi'an Modern Tangren Street Management Co., Ltd. from its controlling shareholder, Xi'an Qujiang Cultural Industry Investment (Group) Co., Ltd.[23]. - The company acquired 55% of Wuxi Huipao Sports Co., aiming to create synergies between culture, tourism, and sports[38]. - The company invested 38% in Wenzhou Yandangshan Quwen Tourism Development Co., Ltd. with a cash contribution of 38 million yuan[74]. - The company completed the acquisition of 100% equity in Xi'an Modern Tangren Street Management Co., for RMB 21.05 million, based on an asset valuation report[177]. Employee Management - The company reported a total of 4,446 employees, with 1,412 in the parent company and 3,034 in major subsidiaries[121]. - The employee composition includes 2,521 production staff, 270 sales personnel, 935 technical staff, 265 financial staff, and 455 administrative staff[121]. - The company aims to enhance the professional skills of its employees through various training programs, including specialized courses for finance and human resources[127]. - The company has established a talent cultivation plan through its Qujiang Cultural Tourism College to develop industry-leading and composite management talents[127]. Related Party Transactions - The total amount of related transactions reached CNY 1,247.84 million, accounting for 7.86% of similar transactions[170]. - The largest single related transaction was the sale of goods to Xi'an Xinzheng Industrial Co., Ltd., amounting to CNY 1,068.42 million, representing 6.74% of total related transactions[170]. - The company utilized market pricing methods for all related transactions, ensuring compliance with pricing principles[170]. - The total amount of related party transactions reached ¥66,463,396.67, accounting for 5.21% of similar transactions[173]. Community Engagement and Social Responsibility - The company has actively participated in pandemic prevention efforts, organizing staff to support community needs during lockdowns in December 2021[148]. - The company has hosted various public welfare activities, including cultural heritage protection events and community support initiatives[149]. - The company has engaged in various community service activities, reinforcing its social responsibility as a state-owned enterprise[148]. - The company has developed several cultural tourism projects, contributing to the local economy and promoting cultural heritage[146]. Financial Reporting and Audit - The company has received a standard unqualified audit report from Sigma Accounting Firm, ensuring the accuracy and completeness of the financial statements[7]. - The internal control audit report for 2021 received a standard unqualified opinion, confirming effective financial reporting controls[139]. - The company has appointed Sigma Accounting Firm for the 2021 financial report and internal control audit, with a remuneration of 455,000 RMB[165].