*ST凯撒(000796) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥939,943,076.83, a decrease of 41.78% compared to ¥1,614,569,000.28 in 2020[27]. - The net profit attributable to shareholders for 2021 was -¥689,774,420.35, showing a slight improvement of 1.22% from -¥698,270,068.22 in 2020[27]. - The net cash flow from operating activities was -¥84,654,019.91 in 2021, a decline of 127.48% compared to ¥308,065,022.32 in 2020[27]. - The total assets at the end of 2021 were ¥3,431,759,274.78, down 22.83% from ¥4,447,291,783.45 at the end of 2020[30]. - The net assets attributable to shareholders decreased by 85.66% to ¥135,182,894.20 in 2021 from ¥942,655,013.90 in 2020[30]. - The basic and diluted earnings per share for 2021 were both -¥0.8590, a 1.33% improvement from -¥0.8706 in 2020[27]. - The weighted average return on net assets was -127.99% in 2021, a significant decline from -40.17% in 2020[27]. - The company reported a total of ¥40,680,306.34 in government subsidies for 2021, down from ¥51,893,450.01 in 2020[37]. - The total non-recurring gains and losses amounted to -¥119,832,835.46 in 2021, compared to ¥64,813,822.30 in 2020[37]. - The company experienced a quarterly revenue of ¥240,229,758.04 in Q1 2021, with a total of ¥159,936,314.02 in Q4 2021, indicating a downward trend throughout the year[33]. Business Operations and Strategy - The main business has evolved from retail to aviation food and railway catering, with tourism service management added in 2015[25]. - The company operates in tourism service management, aviation, and railway catering, which are susceptible to external factors like natural disasters and public health events[6]. - The company aims to innovate in the new retail sector, focusing on personalized and quality-driven offerings[47]. - The company has launched various high-quality themed travel products, including "Red Travel," "Caesar Family Camp," and "Camping Life," covering all provinces and regions in mainland China except Hong Kong and Taiwan[59]. - The company has established a destination segment focusing on Hainan, integrating marketing, operations, management, and investment to enhance user experience[67]. - The catering business generated ¥484.57 million, accounting for 51.55% of total revenue, with a slight increase of 3.43% year-over-year[71]. - The tourism service segment saw a significant decline, with revenue of ¥353.56 million, down 65.99% from ¥1.04 billion in 2020, representing 37.61% of total revenue[71]. - The food and beverage business experienced substantial growth, with revenue of ¥80.90 million, up 133.09% from ¥34.71 million in 2020, making up 8.61% of total revenue[71]. Market and Industry Trends - In 2021, domestic tourism in China reached approximately 3.246 billion trips, a year-on-year increase of 12.75%, recovering to 54.05% of 2019 levels[41]. - The airline industry in China saw a total passenger volume of 440 million, a year-on-year growth of 5.5%, recovering to 66.8% of 2019 levels[42]. - The railway passenger volume increased by 16.9% to 2.533 billion, recovering to 70.78% of 2019 levels[42]. - The company has launched more than 5,000 domestic tourism routes, focusing on local leisure and cultural products[41]. Corporate Governance and Management - The company maintains independence from its controlling shareholder in business, assets, personnel, and financial matters[127]. - The company has established a complete business system and necessary departments to operate independently without reliance on the controlling shareholder[127]. - The company has a separate personnel management system, with all employees participating in social insurance and management independent from the controlling shareholder[127]. - The company has established an independent financial department with dedicated personnel and a compliant financial accounting system, ensuring strict financial supervision and management[129]. - The company experienced significant personnel changes in its board and management, with multiple resignations and appointments due to internal adjustments and term limits[144]. - The total number of personnel changes during the reporting period amounted to 298,700[144]. - The company appointed a new Chief Financial Officer, Qin Yi, on July 26, 2021, following the dismissal of the previous CFO, Shi Yuming[147]. Financial Integrity and Reporting - The company emphasizes the importance of accurate and complete financial reporting, with key executives affirming the integrity of the annual report[5]. - The company’s financial report has been audited with a qualified opinion, indicating potential concerns in internal controls[6]. - The internal control audit report issued a negative opinion due to the presence of major defects affecting the effectiveness of financial reporting controls[196]. - The company failed to maintain effective internal controls over financial reporting as of December 31, 2021, according to the internal control audit[196]. - The company identified major defects related to external investment management and insufficient market environment assessment[196]. Future Outlook and Growth Plans - The company provided a future outlook with a revenue guidance of 1.8 billion for 2022, indicating a growth target of 20%[156]. - New product launches are expected to contribute an additional 300 million in revenue in the upcoming fiscal year[156]. - The company is investing 50 million in R&D for new technologies aimed at enhancing user experience[156]. - Market expansion plans include entering three new international markets by the end of 2022[156]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 200 million allocated for potential deals[156]. Shareholder Engagement and Meetings - The company held three shareholder meetings during the reporting period, ensuring compliance with regulations and protecting minority shareholders' rights[123]. - During the 2021 annual general meeting, 25.65% of investors participated, approving 10 proposals including the 2020 annual report and board work report[132]. - The first extraordinary general meeting in 2021 had a 26.35% investor participation rate, electing two new directors[132]. - The second extraordinary general meeting in 2021 saw a 24.96% participation rate, approving a proposal to change the company's registered address and amend the articles of association[132]. Employee Management and Development - The company has implemented a performance-based compensation policy to motivate employees amid the challenges posed by the pandemic[177]. - The company has established a training resource sharing service system to enhance employee skills and management capabilities[178]. - Total remuneration for directors, supervisors, and senior management during the reporting period amounted to 2.7142 million CNY[163]. - Chairman Chen Jie received a total pre-tax remuneration of 265,800 CNY[163]. - CEO Jin Ying received a total pre-tax remuneration of 239,700 CNY[163].