EA(SZ:002183)2019-04-17 16:00Financial Performance - The company reported a total revenue of 2,122,697,819 RMB for the year 2018, with a cash dividend of 0.20 RMB per 10 shares distributed to shareholders[13]. - The company's operating revenue for 2018 was ¥69,691,724,963, representing a 2.40% increase from ¥68,059,306,079 in 2017[31]. - The net profit attributable to shareholders for 2018 was ¥200,089,140, a decrease of 66.38% compared to ¥595,236,222 in 2017[31]. - The basic earnings per share for 2018 was ¥0.09, down 67.86% from ¥0.28 in 2017[33]. - The total assets at the end of 2018 were ¥43,392,231,949, reflecting an 8.19% decrease from ¥47,262,379,649 at the end of 2017[33]. - The net cash flow from operating activities for 2018 was ¥1,636,755,233, a significant increase of 3,926.96% from -¥4,146,834,390 in 2017[33]. - The company reported a weighted average return on equity of 3.37% for 2018, down from 10.38% in 2017[33]. - The net profit for the fourth quarter of 2018 was -¥190,286,135, compared to a profit of ¥48,093,827 in the third quarter[36]. - The total non-recurring gains and losses for 2018 amounted to ¥32,297,443, compared to ¥42,590,525 in 2017[39]. - The annual profit totaled 204 million yuan, a decline of 73.34% compared to the previous year[65]. - Net profit attributable to the parent company was 200 million yuan, down 66.38% year-on-year[65]. Business Strategy and Development - The company aims to enhance its supply chain service capabilities and diversify its business to maintain its leading position in the industry[7]. - The company is focusing on improving its management capabilities and talent acquisition to address the increasing demands of its growing operational scale[9]. - The company plans to implement a dual-driven model of "comprehensive supply chain services" and "supply chain finance" to improve its financial situation[12]. - The company recognizes the need for continuous promotion of its ecological concept and collaborative development in the supply chain management sector[7]. - The company is focusing on strategic partnerships with over 100 Fortune 500 companies and 2,000 well-known enterprises[55]. - The company plans to invest resources in chain franchising and smart retail to enhance its deep supply chain business[47]. - The company is developing a joint venture in computer technology to enhance its competitive edge in the market[50]. - The company plans to implement a "Supply Chain +" strategy to enhance collaborative development and promote industrial upgrading in 2019[123]. - The company aims to establish a supply chain cloud platform and innovate the "Star Chain" model to enhance service capabilities across various supply chain nodes[123]. - The company intends to strengthen its technology platform by externalizing its ERP system and integrating blockchain technology for product traceability and supply chain finance services[125]. - The company is focusing on expanding its market presence in emerging industries while enhancing its core supply chain services[125]. - The company plans to actively seek strategic cooperation with local governments to promote comprehensive commercial projects[125]. Risk Management - The company faces market competition risks from both traditional logistics providers and emerging supply chain service providers, necessitating a strategic response[7]. - The company is exposed to financial risks due to high accounts receivable and inventory costs, which may lead to a high asset-liability ratio[12]. - The company is implementing measures to mitigate foreign exchange risks through forward foreign exchange contracts and improved cash management[13]. - The internal control management system was strengthened to mitigate risks, with a focus on auditing and fraud prevention measures[133]. - A risk warning mechanism was established to enhance the scientific and timely management of processes, particularly in inventory and accounts receivable[133]. Operational Efficiency - The company has established a comprehensive management system to ensure effective operational oversight and compliance[9]. - The financial management system was optimized by reducing the management structure from four levels to three, enhancing vertical management capabilities[129]. - The company focused on increasing operational cash flow and reducing the asset-liability ratio, with a goal of improving both accounts receivable and inventory turnover rates[130]. - A new funding management system was established to enhance efficiency and ensure timely information flow in financial management[130]. - The performance evaluation and incentive mechanisms were refined to attract and retain top management talent, aligning with business development strategies[126]. - The company is committed to maintaining a competitive compensation and benefits system to support strategic goals[126]. Shareholder and Dividend Information - The company proposed a cash dividend of RMB 0.20 per 10 shares for the 2018 fiscal year, based on a total share capital of 2,122,697,819 shares[143]. - In 2018, the total cash dividend amounted to RMB 42,453,956.00, which represents 21.22% of the net profit attributable to ordinary shareholders[146]. - The cash dividend for 2017 was RMB 123,116,474.00, accounting for 20.68% of the net profit attributable to ordinary shareholders[146]. - The cash dividend for 2016 was RMB 169,475,989.00, which was 32.67% of the net profit attributable to ordinary shareholders[146]. - The company’s distributable profit for the reporting period was RMB 899,528,489.00, with the total cash dividend representing 100% of the profit distribution[146]. Compliance and Governance - The company has committed to maintaining independence from its controlling shareholder in terms of personnel, assets, finance, organization, and business operations[149]. - The company has a long-term commitment to avoid direct or indirect competition with its controlling shareholder's business[149]. - The company has fulfilled its commitments regarding related party transactions and will ensure fair pricing based on market standards[150]. - The company has a commitment to pay bondholders interest and principal according to the terms agreed upon[159]. - The company has not engaged in any share buybacks during the reporting period[146]. - The company has maintained a good integrity status for both itself and its controlling shareholders during the reporting period[179]. - The company has complied with all commitments made, with no overdue commitments reported[165]. Subsidiaries and Investments - The company has a subsidiary, Shenzhen Yushang Microfinance Co., Ltd., with a net profit contribution exceeding 10% of the company's total net profit[111]. - The total assets of Shenzhen Yushang Microfinance Co., Ltd. amount to CNY 1,578,219,898, with a net profit of CNY 30,609,413[111]. - The company’s subsidiary, Lianyi (Hong Kong) Limited, reported a net profit of HKD 167,875,293, contributing to the overall profitability of the group[111]. - The company has utilized CNY 844,000,000 of idle raised funds to temporarily supplement working capital, which has not yet matured[107]. - The company reported a total revenue of RMB 5,433,904,149, with a net loss of RMB -945,535 for the period[120]. - The subsidiary Shenzhen Qianhai Yiatong Supply Chain Co., Ltd. achieved a revenue of RMB 1,572,722,175, with a net profit of RMB 13,387,662[120]. - The subsidiary Jiangsu Yisitiwei Supply Chain Management Co., Ltd. generated revenue of RMB 794,565,864, with a net profit of RMB 12,075,995[118]. - The company recorded a revenue of RMB 1,228,545,342 from Zhejiang Baicheng Group Co., Ltd., with a net profit of RMB 33,786,519[118]. Changes in Financial Reporting - The company has adjusted its financial statements according to the new reporting format issued by the Ministry of Finance, affecting the presentation of certain balance sheet and income statement items[167]. - The consolidated financial statement scope has changed, with 37 new entities included and 25 entities removed compared to the previous period[173]. - The company reported a total of 8,381,240,866 in accounts payable and notes payable combined[172].