ZHONGTIAN SERVICE(SZ:002188)2022-03-21 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[23]. - 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% improvement[23]. - The net cash flow from operating activities reached ¥68,114,967.6, a remarkable increase of 1,950.01% compared to a negative cash flow of ¥15,566,228 in 2020[23]. - The company reported a net profit of ¥6,174,429.65 after deducting non-recurring gains and losses, compared to a loss of ¥25,110,121 in the previous year, reflecting a 125.42% improvement[23]. - 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[24]. - Total assets at the end of 2021 reached CNY 290,358,824, representing an increase of 81.74% from the end of 2020[24]. - The net assets attributable to shareholders of the listed company were CNY 51,576,426.7, a 152.72% increase compared to the previous year[24]. - The company reported a net profit of CNY 142,011,830.91 in Q4 2021, recovering from losses in the previous three quarters[28]. - The net cash flow from operating activities in Q4 2021 was CNY 67,764,113.92, indicating strong cash generation capabilities[28]. - The company achieved a total revenue of 274 million yuan in 2021, representing a year-on-year growth of 62.78%[79]. - The net profit attributable to shareholders was approximately 149 million yuan, an increase of 234.20% compared to the previous year[79]. Business Strategy and Operations - The company is focusing on expanding its business in software and intelligent hardware development[21]. - The company disposed of its original micro-electroacoustic business and shifted its main business focus to property management services in 2021[34]. - The property management industry is projected to exceed CNY 2 trillion in revenue by 2023, driven by urbanization and supportive government policies[34]. - The company received a 100% equity stake in Zhongtian Meihao Service, enhancing its asset quality and sustainable operating capacity[36]. - The property management segment accounted for CNY 241 million, which is 88.13% of total revenue, with a year-on-year growth of 59.68%[42]. - The company has established a comprehensive management system and standardized service system, enhancing its competitive edge in property management[38]. - The company’s service to non-owners increased by 149.52%, contributing CNY 104 million to total revenue[42]. - The company has integrated a new subsidiary, Zhongtian Meihao Service, into its consolidated financial statements, enhancing its property management capabilities[48]. - The company has ceased its original micro-electronic sound business and shifted its focus entirely to property management services[49]. Financial Management and Audit - The company has engaged Lixin Zhonglian Certified Public Accountants for its financial audits[22]. - The company has established a comprehensive internal audit system, ensuring effective internal controls and independent auditing functions[87]. - The internal control audit report issued a standard unqualified opinion, confirming effective financial reporting internal controls[134]. - The company’s financial audit fee for 2021 was 1.18 million yuan, with 1.03 million yuan allocated for financial audit and 0.15 million yuan for internal control audit[157]. - The internal control self-evaluation report was disclosed on January 29, 2022, indicating that 100% of the assets and revenue of the evaluated units were included in the company's consolidated financial statements[131]. Shareholder and Governance - The company has retained its controlling shareholder, Shanghai Tianji Investment Co., Ltd., since February 2012[21]. - The company maintains a strict separation from its controlling shareholder, ensuring no fund occupation and independent operational capabilities[84]. - The board of directors operates independently, with all members qualified and actively participating in decision-making processes[84]. - The company has established specialized committees within the board to provide scientific and professional opinions for decision-making[84]. - The company has a clear and independent financial structure, with a dedicated finance department and independent accounting practices[91]. - The company has committed to avoiding competition with its affiliates and ensuring independence, with strict adherence to commitments made since February 2012[141]. Employee and Training Programs - The total number of employees at the end of the reporting period is 1,234, with 1,219 from major subsidiaries[122]. - The company conducted a total of 38 internal training sessions with 4,499 participants and 33 external training sessions with 2,590 participants[125]. - The company has established a robust training system to support talent development and improve employee competencies[138]. - The company has implemented a comprehensive employee welfare program, including health check-ups and holiday benefits, to enhance employee satisfaction[138]. Future Outlook and Projections - The company provided guidance for 2022, projecting revenue growth of 15% to 1.725 billion, driven by new product launches and market expansion efforts[95]. - New product development includes the launch of a next-generation software platform expected to enhance user engagement and retention, with a projected release in Q2 2022[95]. - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2022[95]. - The company plans to invest 100 million in research and development over the next two years to drive innovation and improve product offerings[95]. Related Party Transactions and Commitments - The company has committed to minimizing and regulating related party transactions post-restructuring, ensuring fair market pricing and compliance with legal disclosure obligations[143]. - The controlling shareholder has committed to not engaging in competitive activities with the company during their tenure and for 60 months thereafter[144]. - The company has emphasized the importance of protecting minority shareholder interests in all related party transactions[145]. - The company has confirmed that all commitments regarding competition and related transactions are being strictly adhered to as of the reporting period[144]. Legal and Compliance Issues - The company faced a civil loan dispute with Shenzhen Xinrong Wealth Investment Management Co., involving an amount of 10 million yuan, with a provision of 30% recognized[159]. - The company was involved in a securities false statement liability dispute with Li Jianhua and Hu Qiong, with a claim amount of 56.213 million yuan, which is currently under trial[160]. - The company reached a settlement in a civil loan dispute with Wang Wenying, agreeing to pay a total of 16.8 million yuan, with a reversal of 11.2 million yuan in expected liabilities[161]. - The company has not been subject to any administrative penalties due to environmental issues during the reporting period[137]. - There were no major environmental protection issues reported, as the company is not classified as a key pollutant discharge unit[137].