Zhejiang Renzhi Co.Ltd(002629)
Financial statement report of 2021
Dear directors
The financial statements of the company in 2021 have been audited by Dahua Certified Public Accountants (special general partnership) and
An unqualified audit report was issued. Dahua certified public accountants believes that the company's financial statements have been prepared in accordance with the accounting standards for business enterprises and relevant regulations, and fairly reflect the company's 2021 in all major aspects
Financial position as of December 31 and operating results and cash flow in 2021.
1、 Main accounting data and financial indicators of the company
Year on year increase or decrease of the project from 2021 to 2020 (%)
Operating income (yuan): 1259912494310796965155 16.69%
Operating profit (yuan) -2565074600 -1120909642 -128.84%
Total profit (yuan) -2486510950 -1311264961 -89.63%
Net profit attributable to shareholders of listed company (yuan) -2640550998 -1469017423 -79.75%
Net profit attributable to shareholders of listed company after deducting non recurring profit and loss of -2628051337 -2017710029 - 30.25% (yuan)
Net cash flow from operating activities (yuan) -4179920239 -2048852021 -104.01%
Basic earnings per share (yuan / share) -0.064 -0.036 -77.78%
Diluted earnings per share (yuan / share) -0.064 -0.036 -77.78%
Weighted average return on net assets (%) - 126.94% - 34.18% - 92.76%
Total assets (yuan) 3620199822337963569400 - 4.64%
Net assets attributable to shareholders of listed companies (yuan): 7831834853377138154 - 76.81%
Asset liability ratio 98.11%, 91.37%, 6.74%
Asset liability ratio (parent company): 117.67%, 110.07%, 7.60%
2、 Financial status and operating results during the reporting period
1. Asset structure
The total assets at the end of the year were 36201998223 yuan, a decrease of 6.59% over the beginning of the year.
Including: current assets: 202 Zhuhai Port Co.Ltd(000507) 36 yuan, accounting for 55.80% of the total assets.
Among current assets: monetary capital is 10297973081 yuan, a decrease of 23168428 yuan or 0.22% over the beginning of the year. The decrease is mainly due to the rise of raw materials this year, resulting in the increase of cash for purchasing goods, the receipt of equity transfer funds, the return of principal and interest according to the mediation agreement of litigation cases, the return of bank loan principal and other comprehensive factors;
Accounts receivable were 6847039902 yuan, an increase of 1457589174 yuan or 27.05% over the beginning of the year. The increase was mainly due to the growth of the company's oil service and new materials business;
Notes receivable was 69994000 yuan, an increase of 44994000 yuan or 179.98% over the beginning of the year. The increase was mainly due to the decrease in the discount endorsement transfer of notes receivable received by the company in this year compared with last year;
The financing of accounts receivable was 100000000 yuan, an increase of 27376000 yuan or 37.70% over the beginning of the year. The increase was mainly due to the increase of bank acceptance bills with high credit rating at the end of the year compared with the end of the previous year, and the amount included in the project increased accordingly;
The prepayment was 207109277 yuan, a decrease of 283403866 yuan or 57.78% over the beginning of the year, mainly due to the decrease of current accounts such as the company's prepayment to external units this year;
Other receivables were Elegant Home-Tech Co.Ltd(603221) 102 yuan, a decrease of 1517336588 yuan or 71.55% over the beginning of the year, mainly due to the company's recovery of accounts receivable from bulk trade business last year and retroactive adjustment to accounts for undergraduate purposes;
The inventory was 950318173 yuan, an increase of 222573440 yuan or 30.58% over the beginning of the year, mainly due to the corresponding increase in the ending inventory due to the active expansion of the main business production and preparation in the current period;
Other current assets were 1061932086 yuan, a decrease of 1533873098 yuan or 59.09% over the beginning of the year, mainly due to the due acceptance of bills received at the beginning of the period and in the current period without derecognition.
Non current assets are 16001947487 yuan, accounting for 44.20% of the total assets.
Medium and long-term equity investment in non current assets: 12293284787 yuan, the same as last year.
Fixed assets amounted to 2044538803 yuan, a decrease of 424377851 yuan or 17.19% over the beginning of the year, mainly due to the decrease in the balance of fixed assets caused by the company's disposal of some fixed assets and the provision for depreciation and impairment in the current period; The right to use assets amounted to 453334752 yuan, a decrease of 337135311 yuan or 42.65% over the beginning of the year, mainly due to the decline in the balance of right to use assets due to the depreciation of leased houses and equipment according to the new leasing standards;
Intangible assets amounted to 496986060 yuan, a decrease of 16871392 yuan or 3.28% over the beginning of the year, mainly due to the decrease in the balance of intangible assets caused by the company's provision for amortization expenses of intangible assets this year;
The long-term deferred expenses were 344795896 yuan, an increase of 22206268 yuan or 6.88% over the beginning of the year, mainly due to the comprehensive impact of the company's new growth expected amortization items and the provision of amortization expenses in the current period;
Deferred income tax assets were 369007189 yuan, a decrease of 152705642 yuan or 29.27% over the beginning of the year.
Total liabilities amounted to 35518076799 yuan, an increase of 41440213 yuan over the beginning of the year, an increase of 0.12%, and the proportion of total liabilities to total assets was 98.11%.
Among them, current liabilities are 34134777348 yuan, accounting for 96.11% of the total liabilities.
Among current liabilities: short-term borrowings amounted to 4097518108 yuan, a decrease of 2575507233 yuan or 38.60% over the beginning of the year, which was mainly due to the comprehensive factors of repayment of loan principal, repayment of bank loan principal according to the mediation agreement of litigation related cases and the due acceptance of bills of exchange that were reclassified to the project at the beginning of the period;
Accounts payable was 5569332313 yuan, a decrease of 1974442183 yuan or 26.17% over the beginning of the year, mainly due to the reclassification of bills that were not derecognized at the end of last year to the derecognition of the project due in the current year; Other payables amounted to 8714241954 yuan, an increase of 5939269534 yuan or 214.03% over the beginning of the year, mainly due to the company's advance receipt of equity sale and transfer funds from Santai rural commercial bank.
The advance payment of 1302458213 yuan is mainly the advance payment of 1300000000 yuan for the transfer of equity of Sichuan Zhijie Natural Gas Chemical Co., Ltd;
The payroll payable was 168234407 yuan, a decrease of 68467204 yuan or 28.93% over the beginning of the year, which was mainly due to the reduction of personnel expenses in the current year due to the downsizing of the company last year;
The tax payable was 174124455 yuan, a decrease of 342331259 yuan or 66.28% over the beginning of the year, which was mainly due to the increase in the deductible amount of the company's current payment of turnover tax and input tax invoices at the end of the previous year.
Non current liabilities are 1383299451 yuan, accounting for 3.89% of the total liabilities.
Among the non current liabilities: the lease liability was 196049466 yuan, a decrease of 275626060 yuan or 58.44% over the beginning of the year, mainly due to the implementation of the new lease standards and the payment of lease payments this year;
The estimated liabilities are 1187249985 yuan, an increase of 372408575 yuan or 45.70% over the beginning of the year, which is mainly due to the company's involvement in relevant litigation and the company's withdrawal of possible liquidated damages, interest and other related losses based on prudence.
2. Economic benefits
In 2021, the operating revenue was 12599124943 yuan, an increase of 1802159788 yuan over the same period of last year, an increase of 16.69% year-on-year.
The total profit of the whole year was -2486510950 yuan, a decrease of 1175245989 yuan over the same period of the previous year. After deducting non recurring profits and losses, the company's profit was a loss.
In the whole year, the net profit attributable to the owners of the company was -2640550998 yuan, a decrease of 1171533575 yuan over the same period of last year, a year-on-year decrease of 79.75%; The net profit attributable to the owners of the company after deducting non recurring profits and losses was -2628051337 yuan, compared with -2017710029 yuan in the previous year, a decrease of 610341308 yuan in the same period, a year-on-year decrease of 30.25%. This is mainly because: 1) during the reporting period, the company has accrued compensation losses related to commercial acceptance bill disputes with Hangzhou jiudang Asset Management Co., Ltd. (hereinafter referred to as "jiudang company") and loan contract disputes with Shanghai ZhangFu Asset Management Co., Ltd. (hereinafter referred to as "ZhangFu assets") in accordance with the court judgment; 2) Intermediary and other related expenses incurred by the company due to non-public offering of shares during the reporting period; The weighted average return on net assets for the whole year was - 126.94%, compared with - 34.18% in the same period of last year, with a year-on-year decrease of 92.76%. The annual basic earnings per share was -0.064 yuan, a decrease of 0.028 yuan per share over the same period of last year, mainly due to the decrease of net profit attributable to the parent company in this year.
3. Costs and expenses
In 2021, the operating cost of the company was 11401189850 yuan, an increase of 2297883498 yuan or 25.24% over the previous year, mainly due to the substantial increase in the procurement cost of raw materials and the continuous increase in labor cost this year; Taxes and surcharges were 94699849 yuan, a decrease of 25.98% over the same period of last year. The decrease was mainly due to the increase in the deductible tax of the company's input invoice this year and the decrease in the surtax paid in this period compared with the previous period;
The sales expense was 289916817 yuan, a decrease of 274501753 yuan or 48.63% over the previous year, mainly due to the reduction of the company's settlement expenses and the control of various expenses in the current period;
The management expense was 2717700849 yuan, a decrease of 327053023 yuan or 10.74% over the previous year, mainly due to the decrease of the company's settlement expenses in the current period and the decrease of depreciation expenses in the current year due to the disposal of idle fixed assets last year;
The R & D cost was 167028421 yuan, a decrease of 78042308 yuan or 31.84% over the previous year, mainly due to the decrease of the company's research expenditure on oil service business;
The financial expenses were 477375354 yuan, an increase of 18814417 yuan or 4.10% over the previous year.
4. Cash flow
The net cash flow from the company's operating activities in 2021 was -4179920239 yuan, a decrease of 104.01% over the same period last year, mainly due to the fact that the company recovered less margin than last year, paid more taxes at the beginning of the year, and paid more cash for purchasing goods and receiving labor services in the reporting period;
The net cash flow from the disposal of fixed assets of agricultural construction bank and associated enterprises in the same period of the previous year increased by 3042500 yuan, which was mainly the net cash flow from the sale of fixed assets and other fixed assets of agricultural construction bank in the same period, compared with the same period of the previous year, and the cash flow from the disposal of fixed assets of agricultural construction bank and associated enterprises decreased by 4142500 yuan The decrease of net cash received from intangible assets and other long-term assets over the same period of last year is caused by comprehensive;
The net cash flow generated from financing activities was -1839427111 yuan, a decrease of 3391628527 yuan over the same period of the previous year, a decrease of 218.50% over the same period of the previous year, which was mainly due to the company's higher return of principal according to the mediation agreement of litigation cases, higher return of bank loans and the decrease of cash received from bill discount;
By the end of 2021, the balance of cash and cash equivalents of the company was 10244601650 yuan.
3、 Changes and explanations of shareholders' equity during the reporting period
1. Report period of the company's share capital
