BYBON(SZ:300736)2021-04-26 16:00Financial Performance - The company's operating revenue for 2020 was ¥488,918,503.86, representing a 38.35% increase compared to ¥353,384,194.29 in 2019[19]. - The net profit attributable to shareholders was -¥87,497,124.21, a slight improvement of 5.87% from -¥92,950,034.98 in the previous year[19]. - The net cash flow from operating activities was -¥88,827,244.71, which decreased by 68.36% compared to -¥52,761,828.96 in 2019[19]. - The total assets at the end of 2020 were ¥271,707,158.53, down 21.71% from ¥347,043,957.37 at the end of 2019[19]. - The net assets attributable to shareholders decreased by 32.20% to ¥183,751,250.99 from ¥271,019,047.10 in 2019[19]. - The basic earnings per share for 2020 was -¥0.67, an improvement of 6.94% from -¥0.72 in 2019[19]. - The company reported a distributable profit of -97,345,368.12 CNY, indicating a loss during the reporting period[94]. - The net profit attributable to shareholders for 2020 was -87,497,124.21 CNY, indicating a loss[95]. - As of December 31, 2020, the profit available for distribution to shareholders was -97,345,368.12 CNY[95]. Revenue Breakdown - Total revenue for the year was approximately CNY 388.92 million, with a significant increase in the second quarter to CNY 198.02 million, representing a 336% growth compared to the first quarter[22]. - The company's total revenue for 2020 was CNY 488.92 million, representing a year-on-year increase of 38.35% compared to CNY 353.38 million in 2019[43]. - Revenue from mobile phone repairs was ¥206,312,098.12, accounting for 42.20% of total revenue, with an 18.05% year-on-year growth[50]. - New machine sales generated ¥212,125,109.25, a significant increase of 89.12% from ¥112,163,347.18 in 2019, representing 43.39% of total revenue[50]. - The online business revenue grew by 400% in 2020 compared to 2019, significantly contributing to the overall business growth[45]. Operational Developments - The company operates 147 service outlets and over 1,500 franchise stores across 30 provinces, indicating a strong national presence in the mobile after-sales service industry[29]. - The company has established long-term partnerships with major mobile brands such as Apple, Samsung, and Huawei, enhancing its service credibility and market reach[29]. - The company has developed a comprehensive service system that includes mobile repair, product sales, and value-added services, aiming to cover the entire lifecycle of mobile devices[30]. - The company launched a mobile screen protection service and a warranty service for second-hand phones, expanding its service offerings to meet consumer demands[32]. - The company has implemented a SaaS system for franchisees to improve operational efficiency and management capabilities, reflecting a strategic focus on empowering partners[32]. Cash Flow and Financial Position - The company's cash and cash equivalents decreased by CNY 69.19 million, a reduction of 35.58%, primarily due to operating losses and increased cash expenditures related to Huawei authorized repair services and new device sales[35]. - The company's intangible assets decreased by CNY 10.25 million, a decline of 62.05%, mainly due to amortization and impairment provisions[35]. - The company's net cash flow from operating activities decreased by 68.36% to -¥88.83 million in 2020 from -¥52.76 million in 2019, attributed to operating losses and increased investment in authorized repair services[66]. - Cash inflow from financing activities surged by 7,808.26% to ¥20 million in 2020, mainly due to a loan from the National Development Bank[66]. - Cash outflow from financing activities decreased by 95.94% to ¥1.66 million in 2020, as the company did not conduct stock buybacks or distribute dividends[66]. Investment and Project Management - The total committed investment amount is CNY 20,971.92 million, with a cumulative investment of CNY 19,623.61 million, achieving 93.55% of the planned investment[76]. - The "BaiBang Fast Repair Franchise Construction Project" faced delays due to COVID-19, resulting in lower than expected project investment and benefits[76]. - The "Lightning Bee E-commerce Platform Optimization Project" was terminated due to significant changes in market conditions, impacting its feasibility and expected returns[76]. - The company has adjusted its investment strategy to improve fund utilization efficiency in response to changing market conditions[76]. - The company plans to continue monitoring the feasibility of ongoing projects and adjust strategies as necessary to align with market dynamics[76]. Shareholder and Governance Matters - The company has a clear cash dividend policy, which has not changed during the reporting period, ensuring shareholder interests are maintained[93]. - The company decided not to distribute cash dividends or issue bonus shares for the fiscal year 2020[96]. - The company has committed to not distributing dividends during the lock-up period for its major shareholders[98]. - The company reported a commitment to repurchase shares if there are any false statements or omissions in the prospectus, with a plan to announce the repurchase details within ten trading days of such determination[99]. - The company has a structured remuneration decision-making process based on its articles of association and shareholder meeting rules[164]. Compliance and Internal Control - The company has maintained compliance with corporate governance standards, ensuring no undisclosed information was provided to major shareholders[178]. - The internal control evaluation report indicates no significant deficiencies were found during the reporting period[199]. - The evaluation emphasizes the need for effective internal control to ensure accurate financial reporting[200]. - The report highlights the importance of establishing anti-fraud procedures and control measures[200]. - The company adheres to strict information disclosure practices, enhancing transparency and protecting shareholder rights[186].