*ST民控(000416) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥75,906,326.75, a decrease of 8.07% compared to ¥82,570,110.13 in 2019[6]. - Net profit attributable to shareholders for 2020 was ¥35,022,601.56, an increase of 23.33% from ¥28,397,542.32 in 2019[6]. - The net profit after deducting non-recurring gains and losses was ¥18,474,854.66, up 31.27% from ¥14,074,290.38 in 2019[6]. - The net cash flow from operating activities improved significantly to ¥92,154,360.51, compared to a negative cash flow of ¥92,577,962.80 in 2019, marking a 199.54% increase[6]. - Basic earnings per share for 2020 were ¥0.0658, reflecting a growth of 23.22% from ¥0.0534 in 2019[6]. - Total assets at the end of 2020 reached ¥973,401,419.87, a 4.07% increase from ¥935,368,998.46 at the end of 2019[6]. - The net assets attributable to shareholders increased by 1.89% to ¥900,173,301.95 at the end of 2020, compared to ¥883,515,328.79 at the end of 2019[6]. - The company reported a weighted average return on equity of 3.94%, an increase of 0.69 percentage points from 3.25% in 2019[6]. - The total audited assets of the company as of December 31, 2020, were CNY 973 million, an increase of 4.07% year-on-year[36]. - The net profit attributable to shareholders for the year was CNY 35.02 million, a year-on-year increase of 23.33%[36]. - The company's total operating revenue for 2020 was CNY 75.91 million, a decrease of 8.07% compared to 2019[41]. - The total cash inflow from operating activities was CNY 98,293,445.48, an increase of 7.40% compared to CNY 91,521,387.46 in the previous year[52]. - The total cash and cash equivalents decreased by CNY 10,455,536.70, marking a decline of 270.00% compared to an increase of CNY 6,150,319.37 in the previous year[52]. Business Operations - The company has undergone several changes in its main business focus, shifting from retail to pawn and insurance brokerage services[16]. - The company operates in the pawn business, with a significant portion of its assets in real estate pawning, which is a key revenue driver[26]. - The insurance brokerage business saw overall growth in the insurance industry, with a reported 6.1% increase in original insurance premium income in 2020, totaling ¥4.53 trillion[28]. - The insurance brokerage business revenue increased by 62.37% year-on-year, reaching CNY 11.13 million, while the pawn business revenue decreased by 14.44% to CNY 64.73 million[41]. - The company has signed strategic cooperation agreements with multiple commercial institutions to prepare for future business expansion[37]. - The company actively explored internet marketing models and launched an insurance product promotion through its WeChat platform[37]. Risk Management - The company faced various risks including strategic, credit, market competition, and securities investment risks, which are detailed in the future outlook section[5]. - The company emphasizes the importance of risk awareness among investors regarding future plans and performance forecasts[5]. - The company maintained a low asset-liability ratio and emphasized risk management, ensuring smooth business operations[32]. - The company aims to enhance its internal control systems and risk management to prevent major risk events throughout the year[76]. - The pawn industry is expected to undergo a reshuffle due to increased regulatory scrutiny, with the company aiming to enhance its market share and competitive advantage[75]. - The company is focusing on legal strategies to mitigate financial losses from defaults and ensure compliance with repayment schedules[101]. Shareholder Information - The company reported a profit distribution plan, proposing a cash dividend of 0.3 RMB per 10 shares based on a total of 531,871,494 shares[5]. - The company proposed a cash dividend of CNY 0.3 per 10 shares for the fiscal year 2020, based on a total share capital of 531,871,494 shares[84]. - The total cash dividend amount for 2020 is CNY 15,956,144.82, which represents 100% of the total distributable profit[85]. - The cash dividend payout ratio for 2018, 2019, and 2020 was 79.85%, 56.19%, and 45.56% respectively, indicating a decreasing trend in payout ratios over the three years[85]. - The company has not proposed any stock dividends or capital reserve transfers to increase share capital in the last three years[84]. - The company’s total distributable profit for 2020 was CNY 256,515,407.60[85]. Legal and Compliance - The company has established a priority claim on properties in case of non-payment by borrowers, ensuring recovery of debts through asset liquidation[101]. - The company is actively involved in legal proceedings to enforce repayment agreements and recover outstanding debts[101]. - The total amount of loans in default is significant, indicating potential liquidity risks for the company[100][101]. - The company has a loan of 6 million yuan from Beijing Minsheng Pawnshop, which was not renewed or redeemed, resulting in a default as of March 2020[100]. - The company executed a court order for 4.096 million yuan in February 2020, following a legal process initiated in October 2019[100]. - The company is currently pursuing legal actions for loans of 6 million yuan and 1.4 million yuan, both of which have also resulted in defaults[100][101]. - The company has not faced any bankruptcy reorganization issues during the reporting period[97]. Governance and Management - The company maintains a strong governance structure with independent directors actively involved[169]. - The board of directors and senior management have seen changes, with several members leaving and new appointments made[167][169]. - The company emphasizes a performance-oriented salary structure, combining fixed and variable components to motivate employees[183]. - The company has a total of 49 employees who received compensation during the reporting period[181]. - The company held 3 shareholder meetings during the reporting period, ensuring compliance with relevant regulations and protecting shareholders' rights[187]. - The supervisory board convened 5 meetings to effectively oversee the company's operations, financial status, and management actions[188]. - No significant internal control deficiencies were identified during the reporting period, indicating robust internal governance[199]. Financial Management - The company has a clear financial management system, with independent financial accounting and tax obligations[189]. - The company has engaged in high-risk entrusted financial management, with a total of CNY 4,300 million at an expected return rate of 8.80%[125]. - The company has invested CNY 10,000 million in trust financial products and CNY 10,000 million in bank financial products, both sourced from self-raised funds[123]. - The company reported a return on investment for entrusted loans at 9.00%, with a total loan amount of 1,300 million CNY and 2,000 million CNY for different projects, both fully recovered[129]. - The expected yield from entrusted loans was 15.02 million CNY and 32.55 million CNY, both of which were realized during the reporting period[132]. Social Responsibility - The company actively responded to the COVID-19 pandemic by implementing measures such as deferring interest payments and waiving penalties to support clients[137]. - The company maintained a commitment to social responsibility, including timely tax payments and enhancing transparency through information disclosure[137]. - The company does not belong to the key pollutant discharge units as per environmental protection regulations, promoting green operations and energy-saving initiatives[139].