ZBJT(SZ:000759)2021-03-24 16:00Financial Performance - The company's operating revenue for 2020 was ¥13,128,786,002.31, a decrease of 15.56% compared to ¥15,547,874,380.83 in 2019[17] - The net profit attributable to shareholders in 2020 was ¥43,131,874.12, representing a significant increase of 323.01% from ¥10,196,510.39 in 2019[17] - The net cash flow from operating activities was ¥868,272,374.14, which is a 2.72% increase from ¥845,288,713.83 in the previous year[17] - Basic earnings per share rose to ¥0.07 in 2020, a 600% increase from ¥0.01 in 2019[17] - Total assets at the end of 2020 were ¥9,557,286,957.60, reflecting a 3.77% increase from ¥9,210,266,623.34 at the end of 2019[17] - The net assets attributable to shareholders decreased by 4.12% to ¥3,216,226,808.34 from ¥3,354,591,082.02 in 2019[17] - The company reported a gross margin of 23.90% for 2020, a decrease of 1.57% compared to the previous year[47] - The total revenue for 2020 was approximately ¥13.13 billion, a decrease of 15.56% compared to ¥15.55 billion in 2019[46] - The total profit for 2020 was CNY 138,194,248.38, which is an increase from CNY 80,188,251.77 in 2019, representing a growth of about 72.3%[199] Revenue Sources - The company’s supermarket segment generated CNY 12.892 billion in revenue, accounting for 98.20% of total revenue[31] - Supermarket revenue accounted for 98.20% of total revenue, amounting to ¥12.89 billion, down 10.76% from ¥14.45 billion in 2019[46] - The revenue from the Hubei region was ¥12.75 billion, a decline of 16.26% from the previous year[46] - Online sales through the company's self-built platform reached ¥39.88 million, while third-party platforms generated ¥704.99 million in sales[42] Operational Developments - The company opened 195 new business outlets, bringing the total number of outlets to 1,427, an increase of 86 outlets compared to the end of 2019[36] - The company added a total of 195 new stores during the reporting period, exceeding the target of 105 stores[40] - The total number of chain outlets reached 1,427, with a total area of approximately 1.81 million square meters[40] - The company’s online fresh product variety reached 1,240 items, enhancing the digital membership base by 14% year-over-year[37] - The O2O home delivery business has launched in 1,056 stores, with sales increasing by 133.44% year-over-year and total orders up by 95.92%[37] Cash Flow and Investments - Cash and cash equivalents increased to CNY 1.365 billion in 2020 from CNY 998 million in 2019, representing a growth of about 36.7%[190] - Investment cash inflow increased significantly by 328.85% to ¥10,330,113,153.63 in 2020 from ¥2,408,810,186.98 in 2019[52] - Net cash flow from investment activities improved by 69.64%, reaching -¥475,202,424.24 in 2020 compared to -¥1,565,236,327.33 in 2019[53] - The company reported investment losses of CNY 24,477,062.01 in 2020, compared to losses of CNY 7,105,542.94 in 2019, indicating a deterioration in investment performance[199] Shareholder Returns - The company plans to distribute a cash dividend of ¥0.5 per 10 shares, totaling approximately ¥32,801,493.00 based on the adjusted share base[5] - The cash dividend payout ratio for 2020 was 100% of the total distributable profit[83] - The company declared a cash dividend of CNY 0.50 per share (including tax) for the fiscal year 2020, totaling CNY 32,801,474.30, based on a share base of 656,029,486 shares[81] - The total cash dividends over the past three years amounted to CNY 192,996,507.98, representing a significant portion of the net profit attributable to shareholders[82] Strategic Initiatives - The company aims to enhance its supply chain efficiency and reduce operational costs by integrating a pan-retail ecosystem[70] - Zhongbai Holdings is focusing on digital transformation, with plans to improve its data platform and enhance online sales capabilities[70] - The strategic plan includes the construction of an intelligent central warehouse in Jiangxia and a logistics distribution center in Changsha[71] - The company is currently expanding its wastewater treatment plant, with the increased discharge volume approved by environmental authorities[117] Risk Management and Compliance - The company acknowledges potential risks from the ongoing COVID-19 pandemic, which has affected global supply chains and consumer behavior[74] - The company has not experienced any major accounting errors requiring retrospective restatement during the reporting period[92] - The company has no violations regarding external guarantees during the reporting period[105] - The company has not engaged in any entrusted loans or significant contracts during the reporting period[106] Corporate Governance - The company has established a comprehensive internal control system, optimizing 939 regulations and 413 processes in 2020[161] - The audit committee actively coordinated the annual audit work and ensured the timely submission of the audit report by the accounting firm[169] - The company is committed to protecting investor rights by continuously improving its governance structure[161] - Independent directors actively participated in board meetings, with no objections raised against company matters during the reporting period[167] Employee Management - The total number of employees in the company is 20,625, with 17,813 in sales roles, 777 in production, and 737 in technical positions[157] - The company has a structured remuneration decision-making process based on financial performance and operational goals[153] - The company is enhancing its internal training programs to improve employee skills and adapt to retail industry trends[160] - The total pre-tax remuneration for directors and senior management during the reporting period amounted to 514.25 million yuan[156]