*ST中捷(002021) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥525,535,334.50, a decrease of 25.64% compared to ¥706,762,459.09 in 2019[18]. - The net profit attributable to shareholders was -¥78,550,247.21, representing a decline of 865.80% from a profit of ¥10,257,273.01 in 2019[18]. - The net cash flow from operating activities was -¥36,379,808.00, a decrease of 216.84% compared to ¥31,137,146.34 in 2019[18]. - The total assets at the end of 2020 were ¥861,860,219.59, down 25.98% from ¥1,164,437,531.54 at the end of 2019[18]. - The weighted average return on equity was -11.73%, a decrease of 13.19 percentage points from 1.46% in 2019[18]. - Total profit and net profit attributable to shareholders decreased by 764.47% and 865.80% respectively, primarily due to the absence of gains from the transfer of trust beneficiary rights in the previous year[40]. - Total revenue for 2020 was CNY 525,535,334.50, a decrease of 25.64% compared to CNY 706,762,459.09 in 2019[49]. - Revenue from the sewing machine business was CNY 522,932,632.09, down 25.89% from CNY 705,635,750.04 in the previous year[52]. - Operating profit for 2020 was CNY -75,525,259.17, compared to CNY -70,417,838.81 in 2019, reflecting a 7.25% increase in losses[49]. - The company reported a significant decrease in period expenses by 46.18%, from CNY 136,535,767.87 in 2019 to CNY 73,485,148.92 in 2020[52]. Shareholder Structure and Governance - As of June 24, 2020, the company completed the transfer registration of 120 million shares, representing 17.45% of the total share capital, making Yuhuan Hengjie the largest shareholder[16]. - The company reported significant changes in its shareholder structure, with no controlling shareholder or actual controller identified after the transfer of shares[16]. - The company has fulfilled its commitments related to avoiding competition and reducing related party transactions as per the agreements made during the share reform[141]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[143]. Legal and Compliance Issues - The company is currently involved in a legal dispute with Guangzhou Rural Commercial Bank, with a claim amounting to 3.582 billion yuan, which raises concerns about the company's ongoing viability[144]. - Some of the company's assets have been judicially sealed or frozen due to the ongoing legal case[145]. - The board of directors acknowledges the significant uncertainty regarding the company's ability to continue as a going concern, as highlighted in the audit report[147]. - The company received a letter from Guangzhou Rural Commercial Bank regarding a 2.5 billion RMB trust loan, claiming a shortfall obligation under an agreement that the company could not find in its records[148]. - The company is currently involved in a lawsuit with an amount of 1,986.755 million RMB related to a trust beneficiary rights transfer, which is still under court review[156]. - The company has faced penalties for failing to disclose certain matters in a timely manner, resulting in warning letters issued to its executives[158]. Audit and Financial Reporting - The company received an unqualified audit report with emphasis on matters related to going concern from Lixin Accounting Firm[4]. - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and management[4]. - The audit report issued by the accounting firm includes a section on significant uncertainties related to the company's ongoing operations[144]. - The company has not made any significant accounting policy changes during the reporting period, following the implementation of the new revenue standards effective January 1, 2020[151]. - There were no significant accounting errors that required restatement during the reporting period[152]. Operational Performance and Strategy - The company has not reported any changes in its main business since its listing[16]. - The company has developed over 200 types of industrial sewing machines across 14 major series, holding a total of 371 valid patents as of the end of 2020[35]. - The company has a strong competitive advantage in technology and talent, with a provincial-level research institute and a commitment to continuous R&D improvement[35]. - The company has initiated a new assembly building project to enhance production efficiency, covering over 13,000 square meters[40]. - The company has successfully reduced overdue payments to suppliers, thereby boosting supplier confidence and optimizing the supply chain[42]. - New product development has focused on enhancing the quality of step-type sewing machines and computer bag sewing machines, addressing customer demands for automation and efficiency[43]. - The company aims to enhance its market risk resilience and economic efficiency through the implementation of the direct drive overlock project, which will add 60,000 units of production capacity[100]. Environmental Compliance - The company is listed as a key pollutant discharge unit by the Taizhou Ecological Environment Bureau[184]. - The company has established a wastewater treatment facility with a processing capacity of 50 tons per day, operating normally[190]. - The company obtained a pollution discharge permit valid from June 3, 2020, to June 2, 2023[191]. - The company has developed an emergency response plan for environmental incidents[192]. - The company has installed an online monitoring system for environmental self-monitoring, which has passed inspection[193]. Investment and Financial Management - The company has invested approximately 41.3 million yuan in the construction of its No. 1 factory during the reporting period[33]. - The company has committed a total investment of RMB 88,535 million, with a cumulative investment of RMB 91,323.69 million, achieving an investment progress of 97.08%[99]. - The company has utilized RMB 5,024.19 million from the raised funds for the high-speed direct drive sewing machine project, which has been completed[100]. - The company has approved the use of idle raised funds for temporary working capital, with a total of RMB 40 million utilized in various instances[100]. - The company has a financial product with a return rate of 3.70% and an investment of 10,000 million[177]. Employee and Social Responsibility - The company emphasizes employee benefits, ensuring timely payment of salaries and social insurance[181]. - The company actively fulfills tax obligations and supports local economic development[182]. - The company has initiated new employee welfare projects and improved working conditions, which helped maintain employee confidence in the company's sustainable development[46].