Everyday Network (SZ:300295)2024-04-23 09:51Financial Performance - The net profit attributable to the parent company for the reporting period was negative, primarily due to a decline in revenue from real estate network services and financial services, influenced by industry fluctuations [4]. - The company's operating revenue for 2023 was ¥119,979,628.89, a decrease of 24.32% compared to ¥158,542,705.01 in 2022 [24]. - The net profit attributable to shareholders for 2023 was ¥91,015,913.1, reflecting a significant decline of 1,617.74% from ¥5,994,789.71 in 2022 [24]. - The net cash flow from operating activities was ¥30,534,483.46, down 109.12% from ¥334,843,187.67 in 2022 [24]. - The total assets at the end of 2023 were ¥1,386,975,307.99, a decrease of 17.58% from ¥1,682,544,552.93 at the end of 2022 [24]. - The basic earnings per share for 2023 was -0.48, a decline of 1,700.00% from ¥0.03 in 2022 [24]. - The total revenue including financial service interest income for 2023 was ¥189,762,484.32, down 23.85% year-on-year [24]. - The company reported a net profit excluding non-recurring gains and losses of -¥100,822,046.56 in Q4 2023 [28]. - The net profit attributable to shareholders for Q1 2023 was ¥7,683,676.77, while Q4 2023 showed a loss of -¥99,460,584.89 [28]. - The company recognized non-recurring gains of ¥5,196,584.15 in 2023, compared to a loss of -¥7,291,747.38 in 2022 [33]. Market Conditions - The company acknowledges the ongoing risk of a sluggish real estate market and the potential underperformance of its data business development [7]. - The real estate market showed a cumulative year-on-year decline of 9.6% in development investment and an 8.5% decrease in commodity housing sales area [38]. - The consumer confidence index and employment overdue index have declined, with only 14.3% of residents indicating a willingness to purchase homes in the next three months [39]. - The real estate market in 2024 is expected to remain uncertain, with only 14.0% of residents planning to purchase homes in the next three months, the lowest since 2016 [88]. - The company faces significant uncertainty in the real estate market, with potential credit risks for some enterprises [91]. Risk Management - The company has identified an increase in credit default risk among individual borrowers, prompting a review and improvement of its risk control system [6]. - The company aims to control risks by reducing direct transaction services due to the ongoing downturn in the real estate market [61]. - The company is committed to enhancing risk control measures and diversifying transaction scenarios to address overdue loan risks [91]. - The financial services business may be limited by policy adjustments and market factors, with ongoing risks of overdue loans [91]. Strategic Focus - The company plans to enhance its core competitiveness in data and technology by further applying data, AI, and cloud technologies on its platform, while also exploring stable markets such as the existing housing market [5]. - The company has shifted its organizational structure to focus on data-driven business, enhancing its core capabilities [50]. - The company has shifted its focus towards data and technology services, leveraging big data, cloud, and AI technologies to enhance service offerings [61]. - The company plans to focus on consolidating its core data business capabilities in 2024, aiming for rapid revenue growth in this area [89]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring effective decision-making processes [96]. - The company prioritizes investor relations management, utilizing multiple channels for communication and feedback from investors [105]. - The company is committed to compliance with relevant laws and regulations, ensuring proper governance [106]. - The company maintains a transparent communication policy with investors, ensuring equal access to information [145]. Employee and Training Initiatives - The total number of employees at the end of the reporting period was 346, with 221 in the parent company and 125 in major subsidiaries [128]. - The company conducted three specialized training sessions in data operations in 2023, covering a total of 40 participants from various teams [132]. - The company has implemented a new employee training program for user operations, which included standardized training for 43 employees [131]. - The company aims to standardize and enhance the training of new employees in the user operations line, linking it to the responsibilities of operation leaders [132]. Financial Services - The company's financial services segment, "365 Jinfu," primarily generates income from interest and factoring services, facing increased competition from banks [42]. - The number of small loan companies in China decreased to 5,500, a reduction of approximately 458 from the previous year, indicating a tightening market [40]. - The company will actively explore new channels and business opportunities within regulatory limits for its financial services [91]. Audit and Financial Reporting - Jiangsu 365 Network Co., Ltd. received a standard unqualified audit opinion for its financial statements as of December 31, 2023 [198]. - The audit was conducted by Rongcheng Accounting Firm, with the report signed on April 23, 2024 [198]. - The financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2023 [198]. - Key audit matters were identified based on professional judgment, emphasizing their importance to the financial statements [200].