ZJBC(SZ:000889)2021-04-26 16:00Business Performance - The company reported a stable main business in intelligent information transmission, communication network maintenance, and financial outsourcing services, with no changes during the reporting period [16]. - The company's operating revenue for 2020 was ¥2,573,272,009.25, a decrease of 18.64% compared to ¥3,162,631,426.91 in 2019 [17]. - The net profit attributable to shareholders in 2020 was ¥20,166,310.95, a significant turnaround from a loss of ¥1,240,168,787.93 in 2019, representing a 101.63% increase [17]. - The net profit after deducting non-recurring gains and losses was ¥13,668,326.84 in 2020, compared to a loss of ¥1,203,632,653.04 in 2019, marking a 101.14% improvement [17]. - The net cash flow from operating activities was ¥237,474,220.37, down 42.75% from ¥414,811,466.10 in 2019 [17]. - The basic earnings per share for 2020 was ¥0.0216, a recovery from a loss of ¥1.3258 per share in 2019 [17]. - Total assets at the end of 2020 were ¥3,719,191,281.79, a decrease of 4.82% from ¥3,907,595,690.57 at the end of 2019 [17]. - The company's net assets attributable to shareholders increased by 0.87% to ¥2,342,793,958.43 at the end of 2020, compared to ¥2,322,627,647.48 at the end of 2019 [17]. Business Segments - The company operates in three main business segments: information intelligent transmission, communication network maintenance, and financial services outsourcing [23]. - The information intelligent transmission business utilizes self-developed core processing platforms to provide SMS services to a wide range of clients [23]. - The communication network maintenance business offers comprehensive technical services to telecom operators and tower companies, ensuring network quality and efficiency [23]. - The financial outsourcing business, through its subsidiary, has maintained a leading position in the market, serving major banks and financial institutions, benefiting from the rapid growth of consumer finance [29]. - The company has established long-term partnerships with over 20 provincial and municipal operators, enhancing its SMS transmission service capabilities and customer base across various fast-growing industries such as e-commerce and finance [27]. Revenue and Profitability - The company achieved a total revenue of CNY 257,327.20 million, a year-on-year decrease of 18.64% [61]. - Net profit attributable to shareholders increased by 101.63% to CNY 2,016.63 million despite the revenue decline [61]. - Revenue from communication network maintenance decreased by 11.54% to CNY 134,308.92 million [61]. - Revenue from information intelligent transmission dropped by 24.39% to CNY 77,670.11 million [61]. - Financial service outsourcing revenue increased by 23.51% to CNY 41,800.07 million [61]. Risks and Challenges - The company faces risks including potential goodwill impairment, increased customer concentration in information services, and competition in communication network maintenance technology [5]. - The company emphasizes the importance of understanding the differences between plans, forecasts, and commitments, urging investors to remain aware of associated risks [5]. - The company has experienced a significant increase in customer concentration, with major clients accounting for 91.07% of revenue in 2020, up from 68.72% in 2018 [137]. - The company is facing risks related to goodwill impairment and customer concentration, which could adversely affect its future development and performance [132]. Financial Management - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves [6]. - The company has reduced short-term borrowings by 95.73 million yuan, a decrease of 31.73%, indicating improved financial management [40]. - The net cash flow from financing activities was -¥246.30 million, a slight improvement of 2.06% compared to the previous year, attributed to no cash dividends being paid [107]. - The company has a total of 6,000.00 million RMB paid towards the equity transfer payment during the reporting period [179]. Research and Development - The company’s R&D investment amounted to approximately ¥79.57 million in 2020, a decrease of 11.18% compared to ¥89.58 million in 2019 [105]. - The number of R&D personnel decreased by 31.53% from 850 in 2019 to 582 in 2020, resulting in a reduction in the proportion of R&D personnel from 14.63% to 12.62% [105]. - The company completed the v1.0 version of the resource management platform, addressing previous resource allocation issues and enhancing operational efficiency [99]. - The company is currently developing the v3.0 version of the Anxin platform, expected to be completed in Q1 2020, which will include new features such as 5G messaging and voice messaging [99]. Corporate Governance - The board of directors and management confirmed the accuracy and completeness of the annual report, assuming legal responsibility for any misrepresentation or omissions [4]. - The company has committed to maintaining independence in operations, ensuring that management and financial decisions are separate from controlling entities [146]. - The company guarantees that its financial accounting department operates independently, with no shared bank accounts with controlling entities [146]. - The company has established a clear and independent asset ownership structure, ensuring no misuse of its assets by controlling entities [146]. Social Responsibility - The company actively fulfilled its social responsibilities, receiving recognition for its contributions during the "Lichma" typhoon relief efforts [199]. - The subsidiary Chuangshi Mandao was awarded the title of "Beijing Integrity Creation Enterprise" by local authorities [199]. - The company has trained over 1,100 employees in specialized operations, including electrical, high-altitude, and welding certifications during the reporting period [200].