*ST金一(002721) - 2018 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2018 was ¥14,757,197,479.44, a decrease of 2.31% compared to 2017[22]. - The net profit attributable to shareholders for 2018 was -¥54,581,883.22, representing a significant decline of 129.93% from the previous year[22]. - The net cash flow from operating activities improved to ¥1,501,325,583.42, a 190.16% increase compared to -¥1,665,087,991.58 in 2017[22]. - The total assets at the end of 2018 were ¥14,014,780,664.92, down 18.85% from ¥17,269,262,750.39 in 2017[23]. - The net assets attributable to shareholders decreased by 1.85% to ¥4,600,103,397.56 at the end of 2018[23]. - The basic and diluted earnings per share for 2018 were both -¥0.07, a decline of 125.93% from ¥0.27 in 2017[22]. - The company reported a net profit of ¥121,880,289.96 in Q1 2018, but subsequent quarters showed losses, culminating in a Q4 loss of -¥65,112,912.80[26]. - The total operating revenue for the year 2018 was approximately ¥14.76 billion, a decrease of 2.31% compared to ¥15.11 billion in 2017[61]. - The company reported a significant decline in revenue from the smart wearable segment, which was only ¥8.54 million, down 98.54% year-on-year[61]. - The total revenue from sales reached approximately CNY 13.67 billion in 2018, a year-on-year increase of 1.41%[65]. Inventory and Procurement - The company has a large inventory balance primarily consisting of gold products and jewelry, which poses a risk of inventory depreciation and potential market demand decline[6]. - The company has established a comprehensive inventory management system to maintain reasonable inventory levels despite the inherent risks[6]. - The inventory balance as of December 31, 2018, was ¥3.21 billion, with gold-related products accounting for ¥1.36 billion of this total[57]. - The company’s gold procurement amounted to 66,851,673.54 grams, with a total procurement value of 1,272,275.69 million CNY[36]. - The company’s inventory decreased by 94,843.99 million CNY, with a growth rate of -23.02% due to the disposal of subsidiaries[41]. Risk Management - The company reported a significant risk related to the fluctuation of raw material prices, particularly gold, silver, and platinum, which can impact sales prices and inventory value[5]. - The company has engaged in gold leasing business with banks, which exposes it to risks associated with gold price fluctuations affecting the fair value of leased gold[5]. - The company has a significant reliance on precious metals and gemstones, which are subject to market volatility and geopolitical factors[5]. - The company engaged in financial derivative transactions to mitigate product risk, with a total loss of approximately ¥830,764.46 from gold leasing agreements[57]. Governance and Compliance - The company has appointed a financial advisor, China Merchants Securities Co., Ltd., for continuous supervision during the reporting period[21]. - The company’s financial report has been confirmed by its management to be true, accurate, and complete, ensuring accountability[4]. - The board of directors has revised 14 rules and regulations to enhance compliance governance and risk control, ensuring efficient internal review and decision-making processes[52]. - The company has committed to ensuring that the target company and the listed company will not suffer any actual losses due to undisclosed debts, with a joint liability agreement in place among the parties involved[143]. - The company guarantees that the senior management and core personnel will not leave or change positions within five years after the transaction completion, with a penalty of 1 million yuan for each departure[143]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares, indicating a focus on reinvestment[7]. - The company continues to focus on developing high-quality, diverse gold jewelry products to meet consumer demand for investment and daily wear[33]. - The company is focusing on enhancing its main business operations and has signed agreements to improve its financial performance[116]. - The company is actively engaged in research and development of new products and technologies to drive future growth[119]. - The company is in discussions for potential mergers and acquisitions to strengthen its market presence[119]. Sales and Market Position - The company’s sales volume included 1,548,106 units from self-production, accounting for 23.26% of total sales[37]. - The company’s market position was strengthened by being awarded the "2018 China Influence Most Valuable Brand" and the "Market Development Award" from the China Jewelry Association[40]. - The revenue from the distribution segment was ¥8.91 billion, representing 60.39% of total revenue, with a year-on-year increase of 33.83%[61]. - The revenue from the franchise segment was ¥4.36 billion, accounting for 29.52% of total revenue, with a year-on-year decrease of 16.71%[61]. - The Northeast region saw a revenue increase of 60.16%, totaling approximately ¥679.33 million[61]. Investment and Acquisitions - The company plans to acquire 60% equity of Shenzhen Kani Microfinance Co., Ltd. from Shenzhen Kani Jewelry Co., Ltd. for a total price of 480 million yuan, corresponding to a registered capital of 150 million yuan[149]. - The company completed the acquisition of 100% equity in Shenzhen Jiefu Jewelry Co., Ltd. for a total amount of 25,350 million[102]. - The company plans to acquire a total of 49% equity in Shenzhen Guitian Diamond Co., Ltd., consisting of 30% from Shenzhen Xihai Investment Partnership and 19% from Shenzhen Lingxiu Qile Investment Management Co., Ltd.[179]. - The company plans to acquire a total of 99.06% equity in Zhenbaotong (Shenzhen) Internet Technology Co., Ltd. for a total consideration of approximately 372.69 million yuan[181]. - The company plans to acquire 70% of Shenzhen Jiefu Jewelry Co., Ltd. for a registered capital of 112.7 million yuan and 30% held by Harbin Farrier Trading Co., Ltd. for 48.3 million yuan[199]. Financial Liabilities and Cash Flow - The company's financial liabilities included accounts payable of ¥1,419,333,672.19, reflecting a 10.13% increase from ¥1,111,785,780.89[84]. - The company reported a decrease in bonds payable to ¥200,000,000, down from ¥998,450,179.38, primarily due to bond repayments during the period[84]. - The net cash flow from investment activities was positive at ¥436,646,403.65, a 159.82% increase from a negative cash flow in the previous year[78]. - The total cash inflow from financing activities rose by 61.12% to ¥15,261,818,965.21 in 2018, while cash outflow increased by 144.76% to ¥17,048,200,284.02[80]. - The net increase in cash and cash equivalents was ¥151,404,396.12, up 36.18% from ¥111,175,661.43 in 2017[80].