NEW JCM(SZ:300157)2021-04-28 16:00Financial Performance - The company reported a net profit loss attributable to shareholders of 1.021 billion yuan due to impairment provisions for goodwill, long-term equity investments, fixed assets, and other receivables [4]. - The company's operating revenue for 2020 was ¥695,937,681.19, a decrease of 34.60% compared to ¥1,064,171,650.10 in 2019 [19]. - The net profit attributable to shareholders for 2020 was -¥1,209,103,633.94, showing a slight decrease of 0.13% from -¥1,113,263,626.00 in 2019 [19]. - The total assets at the end of 2020 were ¥3,468,215,504.10, representing a decline of 23.86% from ¥4,596,557,677.00 at the end of 2019 [19]. - The net assets attributable to shareholders decreased by 58.03% to ¥923,956,396.08 in 2020 from ¥2,513,802,456.77 in 2019 [19]. - The basic earnings per share for 2020 was -¥1.70, unchanged from the diluted earnings per share [19]. - The company reported a quarterly operating revenue of ¥301,798,810.57 in Q4 2020, which was the highest among the four quarters [22]. - The net profit attributable to shareholders in Q4 2020 was -¥1,092,536,536.89, significantly impacting the annual results [22]. - The company experienced a significant drop in revenue from ¥1,488,450,311.00 in 2018 to ¥695,937,681.19 in 2020 [19]. - The company has indicated uncertainty regarding its ability to continue as a going concern due to negative net profits over the last three years [19]. Market and Operational Strategy - The company plans to focus on core business areas, ensuring steady growth in main operations and improving quality, efficiency, and profitability [5]. - The management aims to strengthen accounts receivable collection and explore new financing channels to address short-term cash flow difficulties [5]. - The company will focus on deepening existing market penetration while exploring new market opportunities [5]. - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, clarifying that these do not constitute commitments to investors [5]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years [51]. - The company is exploring partnerships with international firms to leverage new technologies and expand its service offerings [52]. - The company aims to enhance its market presence through continuous software innovation and development of integrated solutions [60]. Research and Development - The company has a strong focus on research and development, particularly in neutron source technology, which has applications across multiple industries [33]. - Investment in R&D increased by 25% year-over-year, focusing on advanced geological data processing technologies [52]. - The company is investing in R&D for advanced seismic interpretation technologies, with a budget allocation of 200 million RMB for 2021 [54]. - The company has allocated 100 million RMB for research and development in new technologies for oil extraction processes [55]. - The company is committed to ongoing research and development to support its growth and market expansion initiatives [79]. Software and Technology - The company’s software segment is a pioneer in seismic data processing systems, holding complete intellectual property rights and leading technology in the domestic market [34]. - The company has developed the EPoffice integrated research platform software, which is a customized technical solution for the oil and gas exploration and development industry, featuring various API interfaces and SDK development packages [35]. - The company has established a comprehensive software portfolio to support various geological analysis and exploration needs [59]. - The software copyrights cover various applications, including seismic data interpretation, reservoir modeling, and gas pipeline calculations, showcasing the company's diverse capabilities [61][62][63]. - The company has developed various software solutions, including EPoffice GeoTalk and EPoffice FRS+, with multiple versions released since 2015 [58]. Acquisitions and Investments - The company completed an asset swap with Range Resources Limited, acquiring 100% equity of Range Resources Trinidad Limited for $2.5 million in cash and $94 million in receivables, gaining exploration rights in multiple oil fields [41]. - The company has completed two strategic acquisitions in the past year, enhancing its capabilities in seismic data processing [51]. - A strategic acquisition of a smaller tech firm for 500 million RMB was completed to enhance its software capabilities [54]. - The company has made significant investments in new product development and market expansion strategies [176]. Financial Management and Cash Flow - The company does not plan to distribute cash dividends or issue bonus shares for the year [6]. - The net cash flow from operating activities for 2020 was ¥166,947,284.08, an increase of 456.94% compared to -¥46,771,618.72 in 2019 [19]. - The company reported a significant reduction in sales volume in the new business development segment, with a decrease of 85.71% in sales volume to 8,321.57 tons [110]. - The company’s cash flow from operating activities must be positive and meet certain thresholds to qualify for cash dividends [150]. Legal and Compliance - The company has not faced any delisting situations following the annual report disclosure [171]. - The company has not reported any significant litigation or arbitration matters during the reporting period [173]. - The company is focused on ensuring compliance with legal obligations and maintaining financial stability amid ongoing litigation [175]. - The company has engaged in a legal settlement regarding a compensation dispute with Beijing Bank, which was mediated in March 2021 [181]. Future Outlook - The company provided a revenue guidance for 2021, projecting a growth rate of 15% to 20% [54]. - The company expects a revenue growth of 10% for the next fiscal year, driven by new product launches and market expansion strategies [51]. - The company plans to implement a new customer relationship management system to enhance user engagement and retention [69]. - The company aims to reduce operational costs by 15% through efficiency improvements and technology integration in the upcoming fiscal year [157].