BYBON(SZ:300736)2022-04-29 16:00Financial Performance - The company's operating revenue for 2021 was ¥312,044,278.05, a decrease of 36.18% compared to ¥488,918,503.86 in 2020[16]. - The net profit attributable to shareholders for 2021 was ¥6,508,421.64, representing a significant increase of 107.44% from a loss of ¥87,497,124.21 in 2020[16]. - The net cash flow from operating activities was ¥47,059,086.69, an increase of 152.98% compared to a negative cash flow of ¥88,827,244.71 in 2020[16]. - The basic earnings per share for 2021 was ¥0.05, recovering from a loss of ¥0.67 per share in 2020, marking a 107.46% improvement[16]. - The total assets at the end of 2021 were ¥239,806,038.21, down 11.74% from ¥271,707,158.53 at the end of 2020[16]. - The net assets attributable to shareholders decreased by 12.68% to ¥160,458,223.03 at the end of 2021 from ¥183,751,250.99 at the end of 2020[16]. - The weighted average return on net assets for 2021 was 3.39%, a significant recovery from -38.52% in 2020[16]. - The company reported a net profit of 6,217,900.46 yuan for the year 2021, a significant improvement compared to a net loss of 18,354,398.22 yuan in 2020[21]. - In 2021, the company's revenue was 312 million yuan, with a year-on-year decrease of 36.18%, and the net profit attributable to the listed company was 6.5084 million yuan, a reduction in losses by 107.44%[38]. Revenue Breakdown - Revenue from mobile phone repairs was ¥169,572,199.17, down 17.81% from ¥206,312,098.12 in 2020, while the gross margin increased to 31.99% from 27.61%[46][48]. - New machine sales revenue plummeted by 73.89% to ¥55,391,432.39 from ¥212,125,109.25 in 2020, with a gross margin of only 1.56%[46][48]. - E-commerce revenue surged by 92.13% to ¥49,839,739.99 from ¥25,940,732.62 in 2020, with a gross margin of 13.16%[46][48]. - The total operating cost decreased by 44.41% to ¥246,573,082.29 from ¥443,544,417.19 in 2020, primarily due to reduced costs in new machine sales[44][46]. - The company reported a gross margin of 18.69% for the residential service and repair sector, down from the previous year[44]. Business Strategy and Operations - The company has optimized its business processes and adjusted regional layouts, which has effectively improved overall profitability and turned losses into profits[28]. - The company focuses on providing comprehensive after-sales services for mobile phones, including repair services, product sales, and value-added services[30]. - The company has established 130 direct service stores and over 2,000 alliance stores, covering more than 300 cities and towns across China[27]. - The company signed an independent repair provider agreement with Apple in Q2 2021, allowing certain alliance stores to offer original parts services[26]. - The company has a dual-channel business model combining physical stores and e-commerce platforms to enhance service delivery[30]. - The company has shifted focus to Apple repair services and alliance business, reducing reliance on new machine sales[48]. - The company actively adjusted its business structure, leading to a significant reduction in costs associated with certain brand operations[49]. Cash Flow and Financial Position - Operating cash inflow decreased by 31.01% to ¥411,703,436.63, while operating cash outflow decreased by 46.81% to ¥364,644,349.94[58]. - The net cash flow from operating activities turned positive at ¥47,059,086.69, a significant increase of 152.98% compared to the previous year[59]. - As of the end of 2021, the company's cash and cash equivalents amounted to CNY 120.63 million, representing 50.30% of total assets, an increase of 8.72% compared to the beginning of the year[62]. - The company reported a net increase in cash and cash equivalents of ¥337,943.20, reversing a previous year's decrease[59]. - The company repaid CNY 4 million of long-term loans during the reporting period, leading to a reduction in long-term borrowings to CNY 10 million, a decrease of 37.50%[64]. Governance and Management - The company maintains independent operations in business, personnel, assets, and finance, ensuring no interference from the controlling shareholder[99]. - The company has established a transparent performance evaluation and incentive mechanism for its management team[96]. - The company has independent financial departments and a complete financial accounting system, ensuring no shared bank accounts with the controlling shareholder[100]. - The company has a clear and complete asset ownership structure, with no reliance on the controlling shareholder[100]. - The company has a diverse management team with members holding various positions in other organizations[114]. - The company has implemented a stock incentive plan, with adjustments based on performance assessments for certain executives[104]. Shareholder Relations and Dividends - The company decided not to distribute cash dividends for the fiscal year 2021, with a net profit attributable to shareholders of 6,508,421.64 CNY and available profit for distribution being -28,055,828.99 CNY[137]. - The company’s decision-making process regarding profit distribution was transparent, allowing minority shareholders to express their opinions and ensuring their rights were protected[135]. - The company has approved a share repurchase plan and addressed unfulfilled losses reaching one-third of the total paid-in capital[120]. - The total cash dividend amount, including other methods such as share repurchase, was 29,801,449.60 CNY, which accounted for 100% of the total profit distribution amount[136]. Risk Management - The company has identified potential risk factors and countermeasures in its annual report, emphasizing the importance of investor awareness[4]. - The company faces risks related to the operational capability of its alliance business and the adaptability to strategic goals, given its limited experience in franchise operations[87]. - The company is addressing risks from changes in brand manufacturers' competitive landscape and warranty policies by enhancing its market share in authorized service and improving single-store business volume through online capabilities[88]. - The company is also mitigating risks from recurring pandemic control policies by promoting online services and expanding its alliance business to increase operational efficiency[89]. Employee and Training Initiatives - The total number of employees at the end of the reporting period was 608, with 87 in the parent company and 521 in major subsidiaries[128]. - A total of 630 employees received compensation during the reporting period[128]. - The company conducted skill training for 483 employees, accumulating over 80,000 hours of training[132]. - The company aims to build a learning organization through various training programs, including new employee orientation and management training[132]. Legal and Compliance Matters - The company is involved in a lawsuit with a claim amount of ¥2.83 million, which is currently under first-instance trial and has not yet been adjudicated[190]. - Another lawsuit involves a claim amount of ¥554,800, also under second-instance trial and pending judgment[190]. - The company reported no penalties or rectifications during the reporting period[191]. - There were no violations regarding external guarantees during the reporting period[183]. Environmental and Social Responsibility - The company strictly adheres to environmental protection laws and has not faced any administrative penalties related to environmental issues during the reporting period[168]. - Employee labor contract signing rate and social insurance coverage rate both reached 100% during the reporting period[170].