EASYHOME(SZ:000785)2021-04-28 16:00Share Capital and Stock Information - The company completed a private placement of 509,206,798 shares, increasing the total share capital to 6,529,036,899 shares[4]. - The company received approval from the China Securities Regulatory Commission for the private placement on October 10, 2020[4]. - The company’s stock is listed on the Shenzhen Stock Exchange under the code 000785[8]. - The company’s registered address is in Wuhan, Hubei Province, and its office is located in Beijing[8]. - The company’s legal representative is Wang Linpeng[8]. - The total number of shares held by the top 10 shareholders reflects a concentration of ownership, with the top three holding over 60%[199]. - The largest shareholder, Juran Holdings, holds 39.35% of the shares, totaling 2,569,147,817[199]. - Alibaba holds 8.84% of the shares, amounting to 576,860,841[199]. - The issuance of new shares was approved by the China Securities Regulatory Commission on October 10, 2020[196]. - The new shares were listed on December 2, 2020[195]. - The total amount raised from the non-public offering is capped at 456 million RMB[196]. - The number of ordinary shareholders at the end of the reporting period was 19,197, a decrease from 19,268[198]. - The proportion of restricted shares increased from 95.83% to 96.15% after the issuance[190]. - The total number of restricted shares at the beginning of the period was 5,768,608,403, with an increase of 509,206,798 shares, resulting in a total of 6,277,815,201 restricted shares at the end of the period[194]. - The largest increase in restricted shares was from 兴证全球基金管理有限公 司, which added 146,600,566 shares on June 2, 2021[192]. - The total number of restricted shares added by various shareholders on June 2, 2021, amounted to 509,206,798 shares[194]. - The report indicates that no restricted shares were released during the period, maintaining the total at the end of the reporting period[194]. - The data reflects a significant capital increase strategy by the company, with multiple institutional investors participating in the share issuance[192]. Financial Performance - The company's operating revenue for 2020 was approximately ¥8.99 billion, a decrease of 2.56% compared to ¥9.23 billion in 2019[15]. - The net profit attributable to shareholders for 2020 was approximately ¥1.36 billion, representing a significant decline of 56.81% from ¥3.15 billion in 2019[15]. - The net profit after deducting non-recurring gains and losses was approximately ¥1.27 billion, down 39.37% from ¥2.09 billion in the previous year[15]. - The net cash flow from operating activities for 2020 was approximately ¥2.06 billion, a decrease of 7.70% compared to ¥2.23 billion in 2019[15]. - The total assets at the end of 2020 were approximately ¥39.28 billion, an increase of 11.25% from ¥35.31 billion at the end of 2019[15]. - The net assets attributable to shareholders at the end of 2020 were approximately ¥19.67 billion, up 25.38% from ¥15.69 billion at the end of 2019[15]. - The basic earnings per share for 2020 were ¥0.22, a decrease of 59.26% from ¥0.54 in 2019[15]. - The weighted average return on equity for 2020 was 8.58%, down 16.08% from 24.66% in 2019[15]. - In 2020, the total revenue was approximately ¥8.99 billion, a decrease of 2.56% compared to ¥9.23 billion in 2019[60]. - The revenue from rental and franchise management services was ¥6.59 billion, accounting for 73.27% of total revenue, down 20.37% from ¥8.28 billion in 2019[60]. - The sales revenue from goods increased significantly to ¥1.96 billion, representing 21.75% of total revenue, a growth of 330.73% from ¥454 million in 2019[60]. - The company reported a significant decline in average revenue per unit area across all regions, with the Southwest region showing a decrease of 19.32%[54]. - The total revenue for the direct home furnishing stores in 2020 was CNY 581,963.58 million, a decrease of 21.98% compared to the previous year[54]. - The average revenue per unit area for direct home furnishing stores in 2020 was CNY 1,225.63 per square meter, down from CNY 1,570.99 in 2019[54]. - The company reported a significant impairment amount for the target assets, which exceeds the total number of shares compensated by the performance commitment person multiplied by the issue price per share plus the cash amount already compensated[132]. Profit Distribution - The profit distribution plan proposed a cash dividend of 0.52 RMB per 10 shares, based on a total of 6,525,751,295 shares[4]. - The total distributable profit available for shareholders was RMB 340,591,868.40, after accounting for the previous year's cash dividends of RMB 469,546,747.88[118]. - The proposed cash dividend distribution is RMB 0.52 per 10 shares, totaling RMB 339,339,067.34, which represents 24.90% of the net profit attributable to shareholders[118]. - The company will not issue bonus shares or convert capital reserves into share capital for the year 2020[118]. - The remaining undistributed profits will be carried forward to future years for distribution[118]. - The company has maintained a cash dividend policy that ensures at least 30% of the average distributable profit over the last three years is distributed[113]. - The profit distribution plan requires approval from the board of directors and independent directors, ensuring transparency and compliance with regulations[114]. - The company has a structured decision-making process for profit distribution, including communication with minority shareholders[115]. - The cash dividend for 2020 represents 100% of the total distributable profit of CNY 340,591,868.40[122]. - The cash dividend for 2019 was CNY 469,546,747.88, which was 14.88% of the consolidated net profit attributable to shareholders of CNY 3,154,904,168.79[121]. - The company has committed to providing accurate and complete information for major asset restructuring, ensuring compliance with legal disclosure obligations[125]. Business Operations and Strategy - The company aims to leverage digital transformation to address industry pain points and enhance its service platform in the home furnishing sector[24]. - The company has established a digital transformation partnership with Alibaba, significantly enhancing its digital capabilities in sales and order systems[28]. - The company is positioned as a market leader in the home furnishing industry, with competitive advantages in brand, service reputation, scale, and business model[25]. - The company aims to enhance customer experience through a fully digitalized home decoration process, aiming for a customer-centric operational model[36]. - The company plans to open at least 70 new home furnishing stores in 2021, focusing on filling gaps in first and second-tier cities in Central and South China, as well as expanding into third and fourth-tier cities and rural areas[105]. - The company aims to achieve a registered user base of 2 million by the end of 2021 through the launch of a comprehensive home furnishing retail operation platform[106]. - The company is focusing on strategic adjustments and closures of underperforming stores to improve overall profitability[53]. - The company has plans for market expansion and new store openings in various regions, including Guangxi and Jiangxi[51]. - The company is exploring potential mergers and acquisitions to enhance its supply chain efficiency, with a budget of 2 billion RMB earmarked for potential deals[145]. - The company is investing heavily in technology R&D, allocating 10% of its annual revenue towards innovation and product development[145]. - The company has established strategic partnerships with key suppliers to improve product availability and reduce costs[138]. - The company is actively pursuing strategies to enhance its market position and shareholder value through this restructuring initiative[136]. Social Responsibility and Community Engagement - The company donated 10 million yuan to various charitable organizations to support COVID-19 relief efforts and purchased over 10 million yuan worth of medical supplies[180]. - The company established vegetable supply bases in multiple regions, including a 300-acre base in Wuhan with an investment of 1.77 million yuan and a 2,700-acre base with an investment of 7.5 million yuan[182]. - The company achieved nearly 100 million yuan in sales from its poverty alleviation products through 15 consumer poverty alleviation counters and one dedicated pavilion[182]. - The company has developed a poverty alleviation model that includes "order agriculture + poverty alleviation counters + new retail platform," benefiting over 200 households and enterprises[182]. - The company provided 20 million yuan in group insurance for employees during the pandemic, covering COVID-19 related health issues[180]. - The company implemented a rent and management fee waiver for eligible merchants affected by the pandemic to support their operations[187]. - The company has committed to a green development strategy, focusing on energy conservation and reducing paper usage through digitalization[186]. - The company was recognized as "2020 Capital Operation Benchmark" and maintained a commitment to sustainable development and shareholder value creation[179]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 12% to 15%[147]. - Future outlook indicates a projected revenue growth of 20% for the upcoming fiscal year, driven by new product launches and market expansion strategies[139]. - The company plans to expand its market presence by entering three new provinces, aiming for a 10% market share in these regions within two years[127]. - A strategic acquisition of a local competitor is anticipated to enhance the company's supply chain efficiency and is expected to close by Q3 2021[128]. - The company is investing 500 million RMB in research and development for innovative retail technologies over the next two years[127]. - The company plans to implement a new customer loyalty program, expected to increase repeat purchases by 15%[147]. - Overall, the company remains committed to sustainable growth and enhancing shareholder value through strategic initiatives[146].