On April 10, ABC (835021) recently released its 2020 annual report. During the reporting period, the company achieved an operating income of 7808367.69 yuan, a year-on-year decrease of 33.51%; the net profit attributable to shareholders of listed companies was -8217700.23 yuan, a year-on-year decrease of – 18237653.94 yuan, a year-on-year decrease of losses.
During the reporting period, the net cash flow from operating activities was -5009390.78 yuan, and the net assets belonging to the shareholders of the listed company was 2564401.62 yuan by the end of 2020.
The year-on-year decrease in revenue was 33%, mainly due to the fact that e-commerce business was a continuation of old projects and did not undertake new projects, resulting in a decrease in revenue. The decrease of income leads to the change of cost in the same direction.
During the period, the financial expenses were 873344.19 yuan, compared with 931196.44 yuan in the same period of last year, a year-on-year decrease of 6.21%. During the reporting period, the investment income was -2163689.27 yuan, which was mainly due to the write off of Qiqi supermarket and the disposal of Qiqi Xiangyu’s equity during the reporting period, the reversal of the provision for impairment of investment accrued before the reporting period, and the recognition of the income from current account of Qiqi supermarket.
According to digbei.com, the main business of ABC is rural e-commerce platform operation and FMCG agent sales.