JJIT(SH:900929)2022-03-28 16:00Financial Performance - The net profit for the parent company in 2021 was RMB 31,037,028.50, with a total distributable profit of RMB 541,713,930.27 after adding undistributed profits from previous years[4]. - The proposed cash dividend for 2021 is RMB 0.05 per share, totaling RMB 662,781.35, based on a total share capital of 132,556,270 shares[4]. - The remaining undistributed profit to be carried forward to the next year is RMB 541,051,148.92[4]. - The company's operating revenue for 2021 was approximately ¥295.09 million, a decrease of 2.64% compared to ¥303.10 million in 2020[20]. - The net profit attributable to shareholders was ¥1.41 million, down 74.26% from ¥5.47 million in 2020[20]. - The basic earnings per share decreased to ¥0.0106, a decline of 74.26% from ¥0.0413 in 2020[21]. - The weighted average return on equity was 0.19%, down 0.49 percentage points from 0.68% in 2020[21]. - The company reported a net cash flow from operating activities of -¥35.75 million, an improvement from -¥52.08 million in 2020[20]. - The total assets at the end of 2021 were approximately ¥1.03 billion, a slight increase of 0.43% from ¥1.03 billion at the end of 2020[20]. - The company achieved a consolidated operating revenue of 295.09 million yuan in 2021, a decrease of 2.64% compared to the previous year[40]. - The net profit attributable to shareholders of the listed company was 1.41 million yuan, down 74.26% year-on-year[40]. Audit and Compliance - The company has received a standard unqualified audit report from Deloitte Huayong Accounting Firm[7]. - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[5]. - The company has not violated decision-making procedures for providing guarantees[5]. - The company has not faced any issues with more than half of the directors being unable to guarantee the authenticity of the annual report[5]. - The report is available in both Chinese and English, with the Chinese version prevailing in case of discrepancies[7]. - The company has maintained its commitment to transparency and accuracy in its financial reporting, with all board members present at the meeting[7]. - The company held 2 shareholder meetings during the reporting period, ensuring compliance with legal requirements and allowing all shareholders to exercise their rights[85]. - The company has established a complete financial management system with independent accounting practices and does not share bank accounts with its controlling shareholder[88]. - The company has implemented measures to ensure the independence of its operations and has not engaged in any non-operational fund occupation by the controlling shareholder[87]. - The company has a dedicated financial accounting department that adheres to strict financial management protocols[88]. Business Strategy and Operations - The company is focusing on online business transformation and has launched personalized travel products targeting local life and deep travel markets[29]. - The company is optimizing its organizational structure and exploring a new operational model to enhance overall competitiveness[29]. - The company aims to enhance user experience by providing personalized travel customization services and integrating new media for marketing[30]. - The company served nearly 9,000 union members through various tourism products, focusing on local experiences and educational activities[32]. - The company successfully hosted over 160,000 visitors during the Flower Expo, selling more than 120,000 tickets[33]. - The company expanded its B2B business by adding 7 large clients and organized a hotel exhibition in Shenzhen with over 100 hotel brands participating[32]. - The company launched new high-end travel products, including the "New Oriental Train" series, targeting high-net-worth clients[31]. - The company developed various educational tourism products aimed at families with children under 12, in response to the "double reduction" policy[32]. - The company is focusing on integrating online and offline tourism products and services to adapt to changing consumer preferences[72]. - The company plans to innovate and enhance domestic tourism under normalized pandemic prevention conditions, while gradually promoting inbound tourism when the international pandemic is effectively controlled[72]. Market and Industry Trends - The company faced challenges in the tourism industry due to the ongoing impact of the COVID-19 pandemic, leading to a weak economic recovery[36]. - In 2021, domestic tourism reached 3.02 trillion RMB, with a year-on-year growth of 19% and 35%, recovering to 57% and 53% of 2019 levels respectively[63]. - During the 2021 National Day holiday, domestic tourist flow recovered to 70.1% of the same period in 2019, with revenue recovery at 59.9%[63]. - The company anticipates that in 2022, domestic tourism will reach 3.81 trillion RMB, with a year-on-year growth of 27%, recovering to nearly 70% of 2019 levels[73]. - The company is targeting the high-end customized travel market and educational tourism, aiming to strengthen brand influence[77]. - The ongoing impact of COVID-19 remains the largest uncertainty affecting tourism recovery, with the company emphasizing innovation and transformation in its business model[76]. Governance and Leadership - The board of directors consists of 3 independent directors, with independent directors serving as chairs of the audit and risk control committee and the compensation and assessment committee[86]. - The company has maintained a consistent board structure with no new appointments or resignations during the reporting period, ensuring continuity in governance[95]. - The company continues to prioritize strong governance practices with a diverse and experienced board composition[94]. - The total pre-tax compensation for the board members during the reporting period amounted to CNY 272.60 million[92]. - The CEO, Le Wenxin, received a pre-tax compensation of CNY 22.68 million, reflecting the company's commitment to leadership remuneration[92]. - The company has a structured remuneration decision process for senior management, which is reviewed by the remuneration and assessment committee[99]. - The company has a clear policy for independent directors' allowances based on the standards approved at the 2018 annual general meeting[99]. - The company has a diverse leadership team with members holding positions in various affiliated organizations, enhancing its governance structure[98]. Financial Management and Investments - The company reported a total investment of approximately 539.53 million RMB in equity investments, with a total book value of 516.51 million RMB at the end of the reporting period[66]. - The company has a total of 8,000,000.00 in entrusted loans with no reported interest income, indicating ongoing financial management strategies[156]. - The company has multiple entrusted loans with varying amounts, including 4,690,000.00 at an interest rate of 4.04% and 1,050,000.00 at 3.90%, demonstrating diverse funding sources[156]. - The company has reported a total of 1,050,000.00 in entrusted loans with a 3.92% interest rate, reflecting a stable income stream from these financial instruments[156]. - The company has successfully recovered 1,263,287.67 from a previously matured loan, indicating effective cash flow management[156]. - The company has ongoing entrusted loans totaling 50,000,000.00 with no maturity yet, suggesting a strategy for long-term financing[156]. - The company has a consistent approach to managing entrusted loans, with several loans set to mature in 2022, indicating a planned financial strategy[156]. Risk Management - The company faces risks including industry sensitivity to external events, operational risks related to accounts receivable, and competition from online travel agencies[81]. - The company has established a systematic internal control system for subsidiaries, enhancing operational efficiency and risk resistance[119]. - The internal control system has been continuously improved, ensuring effective management and compliance, with no significant deficiencies reported during the period[119]. - Deloitte Huayong Accounting Firm conducted an independent audit of the internal control effectiveness, issuing a standard unqualified opinion[121]. Social Responsibility and Environmental Practices - The company actively practices environmental protection, promoting a paperless office concept and ensuring no environmental pollution during tourism operations[124]. - The company has been recognized for its contributions to social governance and community service, including participation in pandemic prevention efforts[131].