ZHONGTIAN SERVICE(SZ:002188)2022-01-28 16:00Financial Performance - The company's operating revenue for 2021 was ¥273,947,437, representing a 62.78% increase compared to ¥168,290,470 in 2020[25]. - The net profit attributable to shareholders for 2021 was ¥149,413,611, a significant turnaround from a loss of ¥113,842,455 in 2020, marking a 234.20% increase[25]. - The net cash flow from operating activities improved dramatically to ¥68,114,967.6, compared to a negative cash flow of ¥15,566,228 in 2020, reflecting a 1,950.01% increase[25]. - The company reported a net profit excluding non-recurring gains and losses of ¥6,174,429.65, a 125.42% increase from a loss of ¥25,110,121 in 2020[25]. - The basic and diluted earnings per share for 2021 were both CNY 0.511, a significant increase of 235.54% compared to the previous year[26]. - Total assets at the end of 2021 reached CNY 290,358,824, representing an increase of 81.74% from the end of 2020[26]. - The net assets attributable to shareholders increased by 152.72% to CNY 51,576,426.7 compared to the end of 2020[26]. - The company reported a net profit of CNY 142,011,830.91 in Q4 2021, a significant recovery from losses in previous quarters[30]. - The net cash flow from operating activities in Q4 2021 was CNY 67,764,113.92, indicating strong cash generation capabilities[30]. - The property management segment generated CNY 241 million, accounting for 88.13% of total revenue, with a year-on-year growth of 59.68%[44]. - The company achieved a total revenue of 274 million yuan in 2021, representing a year-on-year growth of 62.78%[82]. - The net profit attributable to shareholders was approximately 149 million yuan, an increase of 234.20% compared to the previous year[82]. - The company's net assets at the end of the period were 51.58 million yuan, up 152.72% year-on-year[82]. Business Strategy and Operations - The company transitioned its main business to property management services after acquiring 100% of Zhongtian Meihao Service in June 2021[36]. - The company aims to improve asset quality and enhance sustainable operational capabilities through its new focus on property management[38]. - The company plans to raise funds through a private placement of A-shares to expand its property management market and enhance its technological capabilities[82]. - The company is focusing on regional expansion and increasing project density to accelerate growth in the property management sector[82]. - The company aims to leverage technology to improve traditional property services and enhance overall efficiency and competitiveness[82]. - The company plans to expand its market presence through new strategies and partnerships[74]. - The company is considering strategic acquisitions to enhance its service offerings, with a budget of 200 million RMB allocated for potential deals[105]. - The company has implemented measures to mitigate risks associated with equity disposals and ensure compliance with regulatory requirements[79]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares for the year[8]. - The company has established a comprehensive management system and standardized service protocols to support its business growth[40]. - The governance structure of the company is compliant with relevant laws and regulations, ensuring transparency and accountability[91]. - The annual shareholders' meeting had a participation rate of 22.14% on February 26, 2021, where several key proposals were approved, including the financial report for 2020[95]. - The company has proposed a dividend return plan for shareholders for the next three years (2022-2024)[118]. - The board of directors has approved a performance-based incentive plan for senior management, aligning their compensation with company performance metrics[105]. - The company has committed to maintaining transparency and accountability in its operations and decision-making processes[121]. Employee and Training - The total number of employees at the end of the reporting period was 1,234, with 847 in production, 14 in sales, 173 in technology, 39 in finance, and 161 in administration[126]. - The company conducted a total of 38 internal training sessions with 4,499 participants and 33 external training sessions with 2,590 participants during the reporting period[129]. - The company has established a comprehensive training system and management trainee mentoring mechanism to support talent development and enhance employee skills[142]. - Employee welfare has been improved, with initiatives including health check-ups, travel, and holiday benefits to strengthen employee engagement[142]. Financial Management and Compliance - The company has no discrepancies between financial reports prepared under international and Chinese accounting standards[27]. - The internal control system was established and effectively executed, with no significant deficiencies reported during the evaluation period[133]. - The company reported zero significant defects in financial reporting and non-financial reporting for the year 2021[137]. - The internal control audit report issued a standard unqualified opinion, confirming effective financial reporting internal controls[138]. - The company has not been penalized for environmental issues during the reporting period and is not classified as a key pollutant discharge unit[141]. Related Party Transactions - The company has committed to avoiding competition with peers and regulating related transactions, with strict compliance ongoing since February 2012[145]. - The company has pledged to minimize and regulate related party transactions post-restructuring, ensuring fair market pricing and compliance with legal disclosure obligations[147]. - The company has reported that it will ensure that any unavoidable related transactions are conducted at fair market prices and in accordance with regulatory procedures[149]. - The company’s related party transactions have been approved by the board and shareholders, ensuring compliance with regulations[175]. Legal and Disputes - The company faced a civil loan dispute with Shenzhen Xinrong Wealth Investment Management Co., with a claim amount of CNY 10 million, and has made a provision of 30% for this case[163]. - In a lawsuit involving Xi'an Pinbo Information Technology Co., the company was involved in a ticket data dispute with a claim amount of CNY 50 million, which was rejected by the first-instance court[163]. - The company reached a settlement in a civil loan dispute with Wang Wenying, agreeing to pay a total of CNY 16.8 million, which has been fully settled[164]. - The company has a pending claim of CNY 75.19 million against Zhongmai Holdings Co., which has not yet been collected[165].