GMTC(SH:600898)2021-04-28 16:00Financial Performance - The company's operating revenue for 2020 was approximately ¥939.74 million, representing a 30.31% increase compared to ¥721.17 million in 2019[23]. - The company's net profit attributable to shareholders was -175,892,761.08 CNY in 2020, compared to -819,719,257.93 CNY in 2019, showing a significant improvement[24]. - The total assets decreased by 57.82% from 1,507,294,394.91 CNY in 2019 to 635,769,517.63 CNY in 2020[24]. - The basic earnings per share improved from -3.3705 CNY in 2019 to -1.0235 CNY in 2020[25]. - The net cash flow from operating activities was 13,562,974.14 CNY in 2020, compared to -56,874,229.56 CNY in 2019, indicating a positive cash flow shift[24]. - The company reported a comprehensive gross profit of RMB 128 million, with a gross margin of 13.59%, a significant improvement from -0.32% in the previous year[55]. - The net loss attributable to the parent company was RMB 258 million, a decrease in loss of RMB 593 million compared to the previous year[55]. - The company reported a total revenue of 3,102.26 million RMB from related party transactions during the reporting period[138]. Asset Restructuring - The company completed major asset restructurings, selling 100% of Dejing Electronics and 100% of Jilian Jingmei, which increased net assets by 644 million CNY and 432 million CNY respectively[27]. - The company completed the sale of 100% equity in Jilian Jingmei for RMB 650 million, improving its financial condition and eliminating the risk of financial delisting[52]. - The company completed a significant asset restructuring by selling 100% of Dejing Electronics for RMB 500 million, improving its financial structure and liquidity[47]. - The company’s asset restructuring has allowed it to retain core assets in the smart manufacturing sector while divesting less liquid assets[51]. Market and Industry Position - The company is facing industry and market risks, which are detailed in the section discussing future development risks and countermeasures[9]. - The ODM industry is experiencing increased concentration, with the top three manufacturers' market share rising from 52% to 68% over the past two years[42]. - The company has shifted its focus from mobile phones to a broader range of smart terminal products, including intercoms, scanning machines, electronic price tags, smart meters, and smart modules[48]. - The company aims to enhance its R&D capabilities and has made significant technological advancements in areas such as voice encryption and biometric recognition[48]. - The rapid development of mobile communication technology has increased competition and necessitated continuous innovation among manufacturers[44]. - The company plans to focus on restoring manufacturing operations and expanding its customer base in the smart terminal product line[54]. Legal and Compliance Issues - The company is involved in a significant lawsuit with Industrial Bank Co., Ltd. regarding a loan dispute, with a litigation amount of 40 million RMB[127]. - The company is also facing a lawsuit from Luzhou Yiyijiu Technology Co., Ltd. for a contract dispute, with a total claim amount of 16.4896 million RMB[127]. - The company reported a total liability of 43.22 million yuan related to a lawsuit involving a sales contract from February 2020[130]. - The company is facing a rental contract dispute with a potential liability of 324.97 million yuan[130]. - The company has incurred legal fees and costs associated with multiple lawsuits, which are to be borne by the defendants[130]. - The company is actively managing its legal risks and liabilities as part of its overall strategy[130]. Corporate Governance - The company’s financial report has been confirmed by the responsible persons to be true, accurate, and complete[6]. - The company has established a performance evaluation mechanism for senior management, which includes a base salary and risk income components[199]. - The board of directors held 11 meetings during the reporting period, ensuring effective governance and decision-making[191]. - The supervisory board held 9 meetings during the reporting period to oversee the company's financial status and compliance with regulations[192]. - The company has not faced any penalties from securities regulatory authorities in the past three years[184]. - The company has not disclosed any major risks identified by the supervisory board during the reporting period[199]. Shareholder and Capital Structure - The company did not distribute any dividends in 2020, with a net profit attributable to ordinary shareholders of -25,845.18 million RMB[111]. - The company has not disclosed any changes in its stock structure or shareholder situation during the reporting period[164]. - The total number of ordinary shareholders as of the end of the reporting period is 17,901, an increase from 17,562 at the end of the previous month[166]. - The largest shareholder, Shandong Longqi Island Construction Co., Ltd., holds 50,479,465 shares, accounting for 19.99% of the total shares[168]. Future Plans and Strategies - The company aims to achieve an operating revenue of 500 million yuan in 2021, targeting breakeven for its manufacturing business[97]. - The company plans to enhance its ODM and OEM businesses, focusing on smart hardware and expanding into new markets such as 5G and smart appliances[97]. - The company plans to expand its product offerings, including smart meters and energy-saving devices, to increase operational scale and resilience[98]. - The company is committed to providing comprehensive ODM services through technological innovation and resource integration[94]. Financial Management - The company is committed to improving its financial management through budget control and maintaining good relationships with banks for support[99]. - The company has implemented ISO 14001:2015 environmental management system certification, focusing on reducing energy consumption and pollution[162]. - The company has a stable management team with no significant turnover reported during the period[179].