A sharp increase of 306.68%! Cross-border sales brought in 20 million yuan in profits

A sharp increase of 306.68%! Cross-border sales brought in 20 million yuan in profits

2020 is an extraordinary year, and it is also a year of rapid development of cross-border e-commerce. Recently, major e-commerce companies have successively disclosed their 2020 annual performance reports, and the reported data are very impressive. Among them, ST Huading, the parent company of Yinzhijie Technology and Tongtuo Technology, has its own highlights.

 

Yinzhijie's profit in 2020 is 20 million yuan

 

According to the "2020 Annual Performance Forecast of Shenzhen Yinzhijie Technology Co., Ltd. ", Yinzhijie's expected performance is to rise in the same direction. During the reporting period, the net profit attributable to shareholders of the listed company will be 20 million to 26 million yuan. In the same period last year, the profit was only 4.9179 million yuan, a year-on-year increase of 306.68%-428.68%.

 

It is reported that in 2020 , the main business of Yinzhijie Company was in good condition. Driven by new products and services, the three main businesses of financial informatization, mobile information services, and e-commerce, the operating income increased by 25.76%, 21.10%, and 15.39% respectively compared with the previous year . The company's overall operating income increased by about 19.96% compared with the previous year , driving the company's net profit to achieve a significant increase compared with the previous year.

 

In addition, the credit investigation, securities, insurance and other businesses in which Yinzhijie strategically invested had an impact of approximately -12.7102 million yuan on the company's investment income this year, a reduction of approximately 15.7547 million yuan from the previous year. The impact of the company's non-recurring gains and losses on net profit in 2020 was approximately 13.4535 million yuan, a decrease of 9.6497 million yuan from the same period last year .

 

Tongtuo Technology's parent company ST Huading's losses have been greatly reduced

 

According to the "Announcement on the Expected Loss of Ding Jinlun Co., Ltd. in 2020", the financial department has made preliminary estimates that the net profit attributable to shareholders of the listed company in 2020 is expected to be between -170 million yuan and -280 million yuan, compared with the same period last year (statutory disclosure data). The net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses in 2020 is expected to be between -197 million yuan and -328 million yuan.

 

Compared with the performance in the same period of 2019, the revenue in this reporting period has generally improved. The 2019 performance report data shows that the net profit attributable to shareholders of the listed company was -1.3214559 billion yuan.

 

ST Huading also disclosed the reasons for its performance loss: the expected performance loss was mainly due to the large amount of goodwill impairment.

 

It is reported that according to preliminary estimates by the financial department of Huading Company, the amount of impairment provision for goodwill generated by the acquisition of Shenzhen Tongtuo Technology Co., Ltd. (hereinafter referred to as "Tongtuo Technology") is expected to be approximately RMB 320 million to 420 million in 2020. The final amount of impairment provision for goodwill will be determined after evaluation and audit by the appraisal agency and auditing agency hired by the company with securities and futures qualifications.

 

As one of the top sellers in the cross-border circle, after being acquired by Huading, Tongtuo’s achievements in 2020 have successfully reduced Huading’s losses significantly.

 

From the earnings of Yinzhijie and ST Huading, we can see that the development of cross-border e-commerce this year is very rapid, creating many opportunities to generate revenue. In 2021, when the global epidemic has not yet stabilized, the development trend of cross-border e-commerce can still move upward.


Silver Master

Tongtuo Technology

ST Huading

Annual Performance Report

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