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顾地科技(002694) - 2021 Q4 - 年度财报

Financial Performance - Guodi Technology reported a net loss of 596.1347 million yuan for 2021, with current liabilities exceeding current assets as of December 31, 2021[5]. - The company's operating revenue for 2021 was ¥1,492,802,176.56, representing a 4.48% increase compared to ¥1,428,821,038.93 in 2020[22]. - The net profit attributable to shareholders was -¥583,310,002.28 in 2021, a decrease of 134.27% from -¥248,990,846.48 in 2020[22]. - The net cash flow from operating activities was ¥12,641,171.46, down 93.83% from ¥204,874,547.08 in 2020[22]. - The total assets at the end of 2021 were ¥2,090,134,042.89, a decrease of 15.40% from ¥2,470,637,165.03 at the end of 2020[22]. - The net assets attributable to shareholders decreased by 78.95% to ¥155,461,975.88 at the end of 2021 from ¥738,458,259.76 at the end of 2020[22]. - The company reported a basic earnings per share of -¥1.05 for 2021, a decline of 133.33% from -¥0.45 in 2020[22]. - The company reported a net loss from investment activities of -¥12,758,967.70, an improvement of 71.17% compared to the previous year[54]. - The company recognized impairment losses of 208.13 million yuan for construction in progress, 108.40 million yuan for fixed assets, and 20.19 million yuan for intangible assets due to the bankruptcy proceedings of its subsidiary[187]. Bankruptcy and Legal Issues - The company plans to apply for bankruptcy liquidation of its wholly-owned subsidiary, Alashan League Dream Car Culture Tourism Development Co., Ltd., due to insolvency and inability to repay debts[6]. - The management will actively promote the bankruptcy reorganization of the subsidiary, which is involved in multiple lawsuits and has frozen bank accounts[6]. - The company has applied for bankruptcy liquidation for its wholly-owned subsidiary, Alashan League Dream Car Culture Tourism Development Co., Ltd., due to its inability to repay debts[183]. - There are ongoing litigation matters, including a construction contract dispute with Zhejiang Jinggong Steel Structure Group involving an amount of approximately 30.74 million yuan[139]. Competition and Market Conditions - The company faces risks from intensified industry competition and fluctuations in raw material prices[6]. - The company operates in the plastic pipe manufacturing industry, which is experiencing intense competition and a shift towards brand consolidation[33]. - The company has diversified its business by establishing a subsidiary for sports events and cultural tourism, indicating a strategy for market expansion[34]. - The company aims to enhance product competitiveness through technological innovation, including equipment upgrades and material optimization[71]. Governance and Management - The financial report has been confirmed as true, accurate, and complete by the board and management[4]. - The company has established a complete and independent governance structure, ensuring compliance with relevant laws and regulations[77]. - The board of directors consists of 3 independent directors, accounting for one-third of the total board members, meeting legal requirements[78]. - The company has a dedicated audit department with more than 3 full-time auditors to oversee financial operations and internal controls[79]. - The management team is committed to maintaining transparency and accountability in its operations and financial reporting[87]. Shareholder Information - No cash dividends or stock bonuses will be distributed to shareholders for the year[7]. - The annual shareholders' meeting had a participation rate of 31.08% on June 17, 2021[84]. - The company reported a total shareholding of 33,769,200 shares at the beginning of the period, with a decrease of 7,189,300 shares, resulting in an ending total of 26,579,900 shares[86]. - The largest shareholder, Shanxi Shengnong Investment Co., Ltd., holds 26.02% of the shares, totaling 155,414,292 shares, and has pledged 155,413,920 shares[168]. Internal Controls and Compliance - The company has established and effectively implemented internal controls to ensure compliance and safeguard assets, enhancing operational efficiency[114]. - No significant internal control deficiencies were reported during the reporting period[115]. - The internal control self-evaluation report was disclosed on April 22, 2022, providing insights into the company's internal control effectiveness[116]. - The company maintained effective internal controls related to financial reporting as of December 31, 2021, with no significant deficiencies reported[119]. Employee and Human Resources - The total number of employees at the end of the reporting period was 1,785, with 536 in the parent company and 1,249 in major subsidiaries[102]. - The employee composition includes 1,081 production personnel, 232 sales personnel, 176 technical personnel, 36 financial personnel, and 260 administrative personnel[102]. - The company has a total of 7 employees with a master's degree, 128 with a bachelor's degree, 271 with a college diploma, and 1,109 with a high school education or below[103]. Environmental and Social Responsibility - The company has committed to sustainable development and actively fulfills its social responsibilities[124]. - The company reported a zero-accident record in environmental protection for the year, indicating a strong commitment to clean production[125]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[123]. Financial Management and Strategy - Financial management will be strengthened to control operating costs and improve financing levels, including better management of accounts receivable[72]. - The company plans to optimize marketing strategies and expand sales markets, focusing on strengthening the North China market and developing strategic procurement clients[71]. - The company has effectively addressed its funding gap through related party debts, mitigating the adverse effects of reduced credit availability from financial institutions[145].