Zodi Investment(SZ:000609)2022-04-11 16:00Financial Performance - The company's operating revenue for 2021 was ¥784,646,414.91, representing a significant increase of 638.85% compared to ¥106,197,699.50 in 2020[19]. - The net profit attributable to shareholders for 2021 was -¥375,678,097.81, a decrease of 25.58% from -¥299,164,835.56 in 2020[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥345,229,941.08, an 8.17% increase in loss compared to -¥319,160,423.16 in 2020[19]. - The basic earnings per share for 2021 was -1.26 CNY, a decrease of 26.00% compared to 2020[20]. - The total assets at the end of 2021 were 2,916,220,824.93 CNY, down 24.88% from the end of 2020[20]. - The net profit attributable to shareholders for 2021 was -258,411,427.84 CNY in Q4, contributing to a total net profit of -30,448,156.73 CNY for the year[24][25]. - The weighted average return on equity for 2021 was -35.77%, a decline of 14.37% from 2020[20]. - The company reported a gross profit margin of 7.87% in the real estate sector, down 8.89% from the previous year[45]. - The company reported a net profit of -306,254,727.21 CNY for the year 2020, indicating significant financial challenges[132]. Cash Flow and Financing - The net cash flow from operating activities was ¥146,470,067.36, a turnaround from -¥74,367,482.11 in 2020, marking a 296.95% improvement[19]. - The company reported a net cash flow from operating activities of 98,238,349.62 CNY in Q4 2021[24]. - Operating cash inflow totaled CNY 445,561,322.94, a slight decrease of 0.76% year-on-year[54]. - The net cash flow from financing activities decreased by 93.21% to CNY 46,750,000.00, as the company did not obtain new loans from financial institutions[56]. - The company has a total financing balance of 907,028,453.00 RMB, with bank loans accounting for 599,528,453.00 RMB at an interest rate of 7.105% to 9%[37]. - The company intends to negotiate with banks and financial institutions for debt restructuring to alleviate financial pressure, including seeking debt extensions and lower interest rates[38]. Business Strategy and Operations - The main business focus has shifted to direct investment, including equity investment and comprehensive real estate development[18]. - The company plans to restructure its business model to address high financing costs and ensure timely project advancement[32]. - The company aims to accelerate project development while addressing high financing costs and ensuring safety and quality in construction[38]. - The company plans to focus on the development of the "Liangjiang Zhongdi Plaza" commercial project and ensure partial delivery of the "Zhongdi Huaxi Yue" residential project in 2022[38]. - The company is considering the overall sale of the "Mianshi Xidiwan" project to recover funds and reduce liabilities[38]. - The company has undertaken a guarantee for stage mortgage loans for homebuyers, with a total guarantee amount of approximately 81,106.89 million RMB[38]. - The company is actively managing its real estate project development to improve operational efficiency and revenue generation[132]. Shareholder and Governance - The company’s major shareholder changed to Guangdong Runhong Fuchuang Technology Center (Limited Partnership), holding 71,144,800 shares, or 23.77% of the total shares[18]. - The company’s board of directors and management have confirmed the accuracy and completeness of the financial report[3]. - The company has established a performance evaluation and incentive mechanism to enhance employee motivation and clarify responsibilities[83]. - The company maintains complete independence from its controlling shareholder in personnel, assets, finance, and operations[84]. - The company has a complete and independent business system, ensuring no confusion with the controlling shareholder's operations[85]. - The company held three shareholder meetings in 2021, ensuring compliance with legal requirements and protecting minority investors' rights[81]. Internal Control and Compliance - The internal control system is well-established, covering governance, investment, human resources, financial management, and risk management, with no major risk events reported in 2021[112]. - The internal control evaluation report indicates that 100% of the company's assets and revenue were included in the evaluation scope[114]. - The company maintained effective internal control over financial reporting as of December 31, 2021, according to the internal control audit report[118]. - The company has not faced any penalties from regulatory authorities in the past three years, suggesting compliance with financial regulations[93]. - The company has not reported any violations regarding external guarantees during the reporting period[131]. Market Environment and Challenges - The company faced significant challenges in the real estate market due to regulatory policies, impacting its financing and project execution[31][32]. - The company plans to focus on the new energy and new materials industries, aligning with national policies for sustainable development and carbon emission reduction[75]. - The company maintains a strategy of "focusing on Sichuan and Chongqing, deeply cultivating Southwest" amidst a complex real estate market environment[33]. Employee and Management Structure - The total number of employees at the end of the reporting period is 108, with 22 in the parent company and 86 in major subsidiaries[105]. - The professional composition includes 25 production personnel, 20 sales personnel, 25 technical personnel, 18 financial personnel, and 20 administrative personnel[106]. - Several key management personnel, including the financial director, resigned during the year for personal reasons, indicating potential instability in leadership[89]. - The current board includes individuals with diverse backgrounds, such as independent directors with experience in various industries, which could enhance governance and decision-making[91]. Legal and Regulatory Matters - The company reported a litigation case involving a claim amount of 117.87 million yuan, which is currently in the enforcement stage[145]. - The company has no significant asset or equity disposals during the reporting period[71]. - The company has not engaged in any securities or derivative investments during the reporting period[68][69].