Jin Jiang Online(SH:900914)2022-03-25 16:00Financial Performance - The net profit attributable to shareholders decreased to RMB 43,944,581.32, a decline primarily due to the absence of asset disposal gains from the previous year, which amounted to approximately RMB 347 million [21]. - Basic earnings per share (EPS) for 2021 was RMB 0.237, representing a 41.19% decrease compared to RMB 0.403 in 2020 [21]. - The weighted average return on equity (ROE) fell to 3.67%, a decrease of 2.65 percentage points from 6.32% in 2020 [21]. - The net profit after deducting non-recurring gains increased by 38.81% to RMB 0.186 per share, compared to RMB 0.134 in 2020, attributed to improved operating profits across major business segments [21]. - The net profit attributable to shareholders for 2021 was RMB 130,500,545.77, a decrease of 41.27% from RMB 222,216,549.58 in 2020 [23]. - The net cash flow from operating activities in 2021 was RMB 107,470,277.46, down 60.06% from RMB 269,100,510.96 in 2020 [23]. - The company reported a net cash outflow from investing activities of CNY 181.00 million, an increase of CNY 234.23 million compared to the previous year, primarily due to reduced income from equity investments [61]. - The company reported a total revenue of 558.51 million, with a year-on-year increase of 1.26% [96]. - The company achieved operating revenue of RMB 2.715 billion, a year-on-year increase of 1.93% [48]. - The net profit for 2021 was CNY 146,915,579.18, down from CNY 233,413,749.17 in 2020, indicating a decline of approximately 37.0% [192]. Cash Flow and Dividends - The total distributable profit for shareholders at the end of the year was RMB 488,349,190.02, after accounting for the net profit and cash dividends paid [5]. - The company plans to distribute a cash dividend of RMB 0.72 per 10 shares, totaling RMB 39,715,927.70 [5]. - The cash flow from operating activities decreased by 60.06% to RMB 107 million, primarily due to increased labor costs and taxes related to asset disposals [49][50]. Acquisitions and Investments - The company completed the acquisition of 100% equity in Yijiyou in July 2021, with a registered capital of RMB 43,000,000.00, and paid RMB 7,000,000.00 for unpaid capital from minority shareholders [26]. - The company has entered into a share transfer agreement to acquire 100% of Yijiyou for CNY 43.09 million, enhancing its online platform capabilities [68]. - The performance commitment for Yijiyou is to achieve a cumulative net profit of no less than RMB 15.9 million from 2022 to 2024 [132]. Operational Highlights - The company's operating revenue for 2021 was RMB 2,714,658,661.43, representing a year-on-year increase of 1.93% compared to RMB 2,663,183,705.02 in 2020 [23]. - The internet business achieved initial success with the launch of the "Jinjiang Online" platform, conducting 24 marketing activities, including 4 major promotional events, enhancing brand influence and user numbers [33]. - The automotive business implemented a three-year digital platform construction plan, with over 1,850 vehicles in long-term rental and a focus on enhancing operational efficiency [36]. - The low-temperature logistics business improved operational performance, achieving a logistics loss rate of approximately 0.03% and over 30% improvement in operational efficiency through collaboration with major clients [38]. - The company is focusing on developing ready-to-eat and ready-to-cook products targeting urban white-collar families [45]. Governance and Compliance - Deloitte Huayong issued a standard unqualified audit report for the financial statements [4]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties [7]. - The company is committed to maintaining transparency and accountability in its financial reporting and shareholder communications [90]. - The company has established a performance-based salary system, linking employee compensation to company performance and individual contributions [116]. - The company has engaged Deloitte Huayong as its auditor for the 2021 financial year and internal control audits [112]. Market and Industry Outlook - The logistics industry is expected to benefit from China's "Belt and Road" initiative and the development of Shanghai as an international trade hub, creating significant opportunities for the company's logistics services [42]. - The company is facing challenges from rising labor costs and stricter environmental regulations, which may impact operations [66]. - The logistics and warehousing sector is expected to grow significantly, driven by national economic development and increasing demand for cold chain logistics [76]. - The company aims to optimize its domestic logistics layout and expand its shipping and air freight services, targeting niche market potentials [80]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 55,228, a decrease from 55,696 at the end of the previous month [158]. - The largest shareholder, Shanghai Jinjiang Capital Co., Ltd., holds 212,586,460 shares, representing 38.54% of the total shares [161]. - The company has not faced any penalties from securities regulatory agencies in the past three years, indicating compliance with regulations [107]. Audit and Financial Reporting - The company's financial statements were audited and deemed to fairly reflect its financial position as of December 31, 2021 [174]. - The audit report confirmed that there were no significant misstatements in the financial statements due to fraud or error [182]. - The audit procedures included testing the timing of revenue recognition and evaluating internal controls related to vehicle sales [178].