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Shanghai Jiaoyun Group Co., Ltd. Business Report FY ended Dec. 2020
Financial overview |
(CNY millions) |
| FY ended Dec. 31, 2020 | FY ended Dec. 31, 2019 | Rate of change% | Factors | |
| Sales | 7,770.32 | 8,696.35 | (10.06) |
-Due to the spread of COVID-19 early in the year, sales of passenger travel services were suspended in the first half of the year. In addition, automotive-parts production was impacted by production-plant closures that were carried out in phases in Wuhan and other areas. As a result, sales and profits were significantly lower for the year, even though a recovery occurred in the second half of the year. |
| perating profit | (337.10) | 128.53 | - | |
| Ordinary profit | (214.22) | 199.33 | - | |
| Net profit | (258.47) | 138.53 | - |
Business Trends
-The automotive-parts and sales-services business saw the passenger-car market shrink, as demand shifted to new-energy and lighter-weight vehicles. As a result, the Company is focusing more on new-energy vehicles and gradually phasing out products that are not predicted to be profitable. (From Annual Report 2020)
R&D Expenditure
| FY ended Dec. 31, 2020 (CNY millions) |
FY ended Dec. 31, 2019 (CNY millions) |
FY ended Dec. 31, 2018 (CNY millions) |
|
| R&D Expenditure | 84.84 | 89.68 | 90.64 |
| Ratio of R&D expenses to operating income | 1.09 | 1.03 | 0.94 |
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