NBZB(SH:600857)2019-03-25 16:00Financial Performance - In 2018, the company achieved a net profit attributable to shareholders of 36.63 million RMB, a significant recovery from a net loss of 456.61 million RMB in 2017[5]. - The company's total revenue for 2018 was approximately 998.41 million RMB, representing a year-on-year increase of 2.11% compared to 977.82 million RMB in 2017[20]. - The basic earnings per share for 2018 was 0.16 RMB, a recovery from a loss of 2.04 RMB per share in 2017[21]. - The company's net assets attributable to shareholders increased by 22.05% to 202.70 million RMB at the end of 2018, compared to 166.08 million RMB at the end of 2017[20]. - The company reported a decrease of 2.70% in net profit after deducting non-recurring gains and losses, amounting to 25.81 million RMB in 2018 compared to 26.52 million RMB in 2017[20]. - The weighted average return on net assets for 2018 was 19.86%, a significant improvement from -113.84% in 2017[21]. - The total profit for the period was CNY 47.95 million, a significant recovery from a loss of CNY 444.81 million in the same period last year[36]. - The net profit attributable to the parent company was CNY 36.63 million, compared to a loss of CNY 456.61 million in the previous year[36]. Revenue and Costs - The main business revenue grew by 2.10% to CNY 992.46 million, while the main business cost increased by 2.56% to CNY 872.64 million[39]. - The gross profit margin for the main business was 12.07%, a decrease of 0.40 percentage points compared to the previous year[43]. - The company achieved operating revenue of CNY 998.41 million, an increase of CNY 2.06 million or 2.11% compared to the previous year[36]. - The total operating costs amounted to ¥969,636,991.01, up from ¥947,739,413.38, reflecting a rise of 2.0%[151]. Cash Flow and Investments - The cash flow from operating activities for 2018 was 7.81 million RMB, down 36.06% from 12.22 million RMB in 2017[20]. - The company reported a net cash flow from operating activities of CNY 7.81 million, down 36.06% from CNY 12.22 million in the previous year[46]. - Cash flow from operating activities netted CNY 7,810,260.81, a decline from CNY 12,215,056.16 in the previous year[158]. - Cash received from investment recoveries was CNY 540,600,000.00, up from CNY 261,100,000.00 year-over-year[158]. Assets and Liabilities - The total assets of the company at the end of 2018 were approximately 824.48 million RMB, a slight increase of 0.04% from 824.11 million RMB at the end of 2017[20]. - As of December 31, 2018, the total current assets of Ningbo Zhongbai amounted to RMB 381,037,210.91, a decrease from RMB 466,660,730.47 at the beginning of the year, representing a decline of approximately 18.3%[144]. - The company reported a provision for significant arbitration liabilities amounting to RMB 493,575,100.00 as of December 31, 2018[136]. - Total liabilities decreased to ¥621,779,106.35 from ¥658,037,342.53, a decline of 5.49%[146]. Strategic Focus and Future Plans - The company plans to continue focusing on risk management and strategic development in the upcoming periods, as indicated in the forward-looking statements[6]. - The company plans to achieve a revenue of 989 million RMB in 2019[57]. - The company is focusing on risk management and development strategies to enhance operational efficiency and maintain investor rights[35]. - The company plans to continue its focus on commercial and property asset management while exploring financial services and equity investments to enhance operational efficiency[56]. Market and Competition - The overall retail market in China saw a growth rate of 6.9%, indicating a robust consumer spending environment[30]. - Increased competition in the retail sector is expected to pressure market share and profitability[59]. - The retail business in Ningbo achieved a total retail sales of 415.49 billion CNY, growing by 8.1% year-on-year, with a significant contribution from clothing and textile sales[30]. Corporate Governance and Social Responsibility - The company emphasizes innovation in business models and management to adapt to changing consumer preferences[59]. - The company actively participates in charitable activities, enhancing its social image and gaining public support[87]. - The company has established a good communication environment for investors, recording all inquiries and encouraging multi-channel communication[87]. - The company respects the rights of stakeholders, including creditors, employees, consumers, and suppliers, promoting sustainable development[122]. Audit and Compliance - The audit report confirms that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2018[133]. - The financial statements comply with the accounting standards and accurately reflect the company's financial position and operating results[183]. - There were no penalties from securities regulatory agencies in the past three years, indicating compliance with regulations[110].