Precise(SZ:300442)2022-08-19 16:00Asset Restructuring and Acquisitions - The company completed a major asset restructuring involving the exchange of assets and the issuance of shares to acquire 100% of Runze Technology, with a total fundraising amount not exceeding CNY 4.7 billion[5]. - The company received approval from the Shenzhen Stock Exchange for its major asset restructuring on April 28, 2022[5]. - The company completed a major asset swap and issued shares to acquire 100% of Runze Technology Development Co., Ltd. during the reporting period[20]. - The company proposed a major asset swap and issuance of shares to acquire 100% equity of Runze Technology, which constitutes a related party transaction[94]. - The company is in the process of implementing a major asset restructuring, which includes the acquisition of Runze Technology and the divestment of COMAN[100]. - The company received approval from the China Securities Regulatory Commission for a major asset swap and issuance of shares to acquire assets, with the approval dated May 27, 2022[155]. - The company completed the audit and evaluation work for the major asset restructuring on December 24, 2021, and submitted relevant documents to the Shenzhen Stock Exchange on December 27, 2021[98]. - The company announced the listing of new shares related to the major asset replacement and fundraising on August 8, 2022[99]. Financial Performance - The company's operating revenue for the reporting period was ¥196,328,768.04, a decrease of 49.52% compared to the same period last year[15]. - The net profit attributable to shareholders was -¥21,126,201.49, representing a decline of 482.36% year-over-year[15]. - The net profit after deducting non-recurring gains and losses was -¥31,523,973.69, a decrease of 693.28% compared to the previous year[15]. - The company's operating revenue fell by 45.10% year-on-year, with an operating loss of 4.07 million yuan and a net loss of 4.09 million yuan[53]. - The company reported a net profit of -14.28 million yuan for 2019, failing to meet the performance commitment of 12 million yuan, resulting in a compensation obligation of 23.89 million yuan[82]. - The company reported a net profit of -33.70 million yuan for 2020, which did not meet the performance commitment of 14 million yuan, leading to a required compensation of 43.36 million yuan[82]. - The company reported a significant litigation amount of RMB 633.87 million related to a retrial of performance compensation for 2018, with no provision for liabilities formed[86]. Share Capital and Dividends - The company plans to issue 720,420,678 new shares, increasing the total share capital to 820,420,678 shares after the completion of the transaction[6]. - The company will not distribute cash dividends, issue bonus shares, or increase share capital from reserves for the reporting period[6]. - The company has not declared any cash dividends or stock bonuses for the reporting period, indicating a focus on reinvestment[69]. - The company aims to strengthen its profit distribution policy, particularly focusing on cash dividends, prioritizing cash dividends over stock dividends[76]. - The company has outlined a three-year dividend return plan post-listing to further implement its profit distribution system[76]. Risk Management - The company’s management has outlined potential risks and corresponding measures in the report, emphasizing the importance of risk awareness for investors[3]. - The company faces risks from national energy-saving policy changes, which may impact data center operations and compliance[54]. - The company anticipates intensified competition in the third-party data center service market, which may affect market share and profit margins[57]. - The company faces risks related to the demand for data center services not meeting expectations, which could lead to delays in cabinet delivery and lower utilization rates[59]. - The company has implemented measures to ensure stable power supply, including using diesel generators, but this could increase operational costs if power supply issues arise[62]. Research and Development - Research and development expenses increased by 60.56% to ¥23,181,319.34, driven by increased investment in R&D projects during the reporting period[36]. - The company has over 100 technical research and development personnel and holds more than 100 patents, indicating strong innovation capabilities[35]. - The company has developed various sterile filling technologies, including sterile paper-aluminum composite materials, enhancing its technological capabilities[31]. Customer Base and Market Position - The company has expanded its customer base to include well-known liquid food enterprises such as Mengniu Dairy and Yili Group, enhancing its market position[27]. - The company is one of the few domestic suppliers capable of providing integrated solutions for liquid food enterprises, which strengthens its competitive advantage[30]. - The company's products are priced at approximately 1/3 to 1/2 of similar imported products, providing a significant cost advantage[33]. Legal and Compliance Matters - The company has initiated legal actions to recover performance compensation from a partner due to non-fulfillment of obligations[79]. - The company has reported that it did not fulfill certain commitments on time, indicating ongoing efforts to address these issues[76]. - The company is actively monitoring the progress of ongoing legal cases to protect the rights of the company and its shareholders[83]. - The company has maintained a commitment to protect the interests of minority shareholders during the decision-making process[81]. Financial Position and Assets - The total assets at the end of the reporting period were ¥1,266,079,976.99, down 2.73% from the end of the previous year[15]. - The company's cash and cash equivalents increased by ¥10,497,602.20, contrasting with a decrease of ¥17,121,746.79 in the same period last year, marking a significant turnaround[36]. - Accounts receivable decreased by 5.49% to ¥160,318,231.07, down from ¥236,230,834.91, indicating improved collection efforts[38]. - Inventory stood at ¥503,033,857.71, accounting for 39.73% of total assets, a slight decrease from 40.91% last year[38]. Corporate Governance - The actual controller and shareholders have committed to not engaging in any business that competes with the company or its subsidiaries, ensuring no conflicts of interest arise[74]. - The commitments made by the company and its actual controllers are valid for the long term and are being fulfilled normally[74]. - The company has a consistent strategy to follow up on legal matters and ensure compliance with performance commitments[82]. Accounting Policies and Financial Reporting - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial report accurately reflects its financial condition and performance[159]. - The company’s financial statements are prepared in Renminbi, with its subsidiaries determining their functional currencies based on their economic environments[161]. - The company recognizes revenue from the sale of its share of joint operation outputs[167]. - The company conducts impairment testing for long-term assets, including equity investments and fixed assets, if there are indications of impairment, and recognizes impairment losses accordingly[195].