Zodi Investment(SZ:000609)2020-04-27 16:00Financial Performance - The company reported a total revenue of 298 million in 2019, marking a year-on-year increase of 15%[12] - The net profit attributable to shareholders was 45 million, representing a growth of 10% compared to the previous year[12] - The company's operating revenue for 2019 was ¥547,908,255.05, representing a significant increase of 1,757.78% compared to ¥29,492,663.01 in 2018[18] - The net profit attributable to shareholders for 2019 was ¥29,210,658.07, a turnaround from a loss of ¥60,797,854.14 in 2018, marking an increase of 148.05%[18] - The net profit after deducting non-recurring gains and losses was ¥28,183,298.32, compared to a loss of ¥106,327,926.15 in the previous year, reflecting a 126.51% improvement[18] - The total assets of the company reached 1.2 billion by the end of 2019, an increase of 20% from the previous year[12] - The total assets at the end of 2019 reached ¥4,202,210,104.80, an increase of 41.70% from ¥2,965,561,470.33 at the end of 2018[18] - The company reported a basic earnings per share of ¥0.10 for 2019, compared to a loss of ¥0.20 per share in 2018, indicating a 150.00% increase[18] - The weighted average return on equity for 2019 was 1.91%, recovering from -3.93% in 2018[18] - The company reported non-recurring gains of ¥1,027,359.75 for 2019, compared to ¥45,530,072.01 in 2018[25] Investment Strategy - The company plans to focus on direct investment business, including equity investment and real estate development, as its main operations[16] - The company aims to enhance its market presence through strategic partnerships and acquisitions in the coming years[16] - The company is committed to a long-term development strategy centered on real estate and equity investments, supported by a professional team and internal control systems[32] - The company continues to explore new investment opportunities while managing existing projects prudently[35] - The company aims to enhance its equity investment business by identifying projects with growth potential and investment value[87] Real Estate Development - The company has expanded its real estate investment projects, including developments in Chengdu and Chongqing[16] - The company continued to develop its real estate projects, including the "Liangjiang Zhongdi Plaza" and "Zhongdi Suidingfu" projects, with some properties completed and revenue recognized during the reporting period[29] - The real estate investment business performed well despite a tightening regulatory environment, with a focus on project development and quality control[38] - The company acquired new real estate investment projects in Chengdu, Sichuan, enhancing its overall investment strength[38] - The real estate sector contributed CNY 546.78 million, accounting for 99.79% of total revenue, with a year-on-year growth of 1,854.36%[48] Financial Management - The company has a total of CNY 544.15 million in bank loans with an interest rate range of 7.105% to 9%[43] - The company also has CNY 850 million in trust financing with an interest rate range of 12.4% to 14.5%[43] - The company’s financial expenses increased by 3,141.67% to ¥17,095,826.05, primarily due to increased interest expenses during the reporting period[59] - The company’s monetary funds at the end of 2019 were ¥351,553,640.58, which accounted for 8.37% of total assets, an increase of 2.46% from the beginning of the year[66] - The company has engaged in cash asset management through entrusted financial management during the reporting period[138] Shareholder Returns - No cash dividends or stock bonuses will be distributed to shareholders for the reporting period[5] - The company did not distribute any cash dividends in 2019, despite having a positive profit available for distribution to ordinary shareholders[94] - The company reported a total of 0.00% cash dividend distribution in 2019, indicating no return to shareholders[94] Governance and Compliance - The board of directors has confirmed that all members attended the meeting to review the annual report, ensuring governance compliance[4] - The company emphasizes the importance of risk awareness regarding forward-looking statements made in the report[4] - The company has committed to maintaining its independence and reducing related party transactions, with ongoing compliance since September 1, 2017[96] - The company has ensured timely fulfillment of information disclosure obligations to protect the rights of shareholders[96] Personnel and Management - The company appointed Lixin Certified Public Accountants as the auditor for the 2019 financial statements, with an audit fee of RMB 1.1 million[105] - The company appointed a new general manager, Jie Bin, following the resignation of the previous general manager, Li Qin[152] - The company appointed Ms. Li Hemei as the new CFO after Mr. Hu Xuyi resigned for personal reasons[153] - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 2.9247 million (approximately USD 0.43 million) before tax[195] - The company employed a total of 195 staff, with 162 in major subsidiaries and 33 in the parent company[197] Legal Matters - The company has been involved in litigation with Shenzhen Magus Technology Co., with a claim amount of RMB 8.5 million, which has been adjudicated[107] - The company is also engaged in litigation related to a leasing project with a claim amount of RMB 6.16 million, currently in the enforcement stage[109] - The company has not reported any major lawsuits or arbitration matters that would impact its financial status[111] Future Outlook - The company anticipates that the COVID-19 pandemic will impact project development and sales, depending on the progression of pandemic control measures[45] - The company plans to continue its real estate investment projects despite challenges from strict regulatory policies and the impact of the COVID-19 pandemic[86] - The company emphasized the necessity of maintaining sufficient funds to ensure project recovery post-COVID-19 pandemic[94]