Stock Code: 002468 Stock Abbreviation: STO Express Announcement Number: 2022-025
1. Important notice
The summary of this annual report comes from the full text of the annual report. In order to fully understand the company’s operating results, financial status and future development plans, investors should go to the media designated by the CSRC to read the full text of the annual report carefully.
All directors have attended the board meeting to review this report.
Non-standard audit opinion reminder
□ Applicable √ Not applicable
The profit distribution plan for ordinary shares or the plan for converting public reserve into share capital during the reporting period reviewed by the board of directors
□ Applicable √ Not applicable
The company plans not to distribute cash dividends, not to send bonus shares, nor to convert the common reserve fund to increase the share capital.
Profit distribution plan for preference shares during the reporting period approved by the Board of Directors
□ Applicable √ Not applicable
2. Basic information of the company
1. Company Profile
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2. Introduction of main business or products during the reporting period
STO Express is a well-known domestic comprehensive logistics service enterprise with express service business as its main business. The company has always shouldered the corporate mission of “enable customers to enjoy the new life of express delivery, let employees realize personal value, and let enterprises take social responsibility”, adhering to the “one The service concept of “being close to you, making you and me with your heart”, and practicing the quality policy of “quick, safe, accurate, thoughtful, customer satisfaction, Shentong’s pursuit”, aiming to realize “taking technology and talents as the driving force, Shentong will Express to be a benchmark enterprise in China’s express delivery industry, and to shape the STO Express brand into a national express delivery brand recognized by the whole society”.
The company’s current main business is express delivery business. The products of express delivery business are mainly divided into the following three categories:
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Express business: express delivery products by automobile, including same-day delivery, next-morning delivery, 24-hour, 48-hour, etc.; air-delivery products, including 24-hour delivery between key cities.
Value-added services: including payment collection, pre-sale sinking and other products.
Express accessories: mainly provide envelopes, document bags, cartons and other express packaging.
In addition to the above-mentioned express delivery business, the company also operates emerging business sectors such as warehousing and distribution, grid warehouses, etc.
The company mainly adopts the business model of “transit direct sales, network franchise”:
Transit direct operation: mainly refers to the direct operation of the core transshipment center. Since the transshipment center is at the core hub position in the region and is also a key link in the business process, the operation management of the transshipment center is very important for the company’s full-link express service. has a significant effect. In recent years, the company has increased investment in infrastructure such as transshipment centers, expanded the production capacity of transshipment centers, optimized the layout of the transshipment network, increased the proportion of direct sales centers, and further improved the construction of the transit operation system.
Outlet franchise: mainly refers to the franchise mode adopted by the terminal outlets. The franchise mode is conducive to the rapid network layout, and thus continuously improves the regional coverage of the company’s business. On the basis of balancing the profit distribution of outlets, the headquarters implements policies according to the city and locality, and fully mobilizes the terminal outlets. The enthusiasm and initiative of the company can effectively improve the company’s business volume and service quality.
The express service business is mainly divided into three links: collection, transit and delivery, as well as the express information service of the whole process:
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Collection service
Express delivery service means that the express business personnel receive user information or express system instructions, and collect and express delivery in accordance with the relevant provisions of the “Interim Regulations on Express Delivery”. Complete the collection service process of the branch company.
(1) Door-to-door collection
Users can send express delivery instructions to express companies through official phone calls, official websites, official APPs, official accounts, mini programs and cooperative e-commerce platforms. Express service network company, and the network company arranges business personnel to come to collect express delivery.
During the door-to-door collection process, according to the “Interim Regulations on Express” promulgated by the State Council on March 2, 2018, before the user fills in the express waybill, the company’s business personnel will remind him to read the terms of the express service contract and abide by the prohibition and restrictions on delivery. Relevant regulations, inform relevant insurance price rules and insurance service items. At the same time, the company’s business personnel will conduct a real-name identity check on the user’s identity according to the regulations, and register the identity information. If the user refuses to provide identity information or provides false identity information, the company will not conduct collection operations.
(2) Delivery to the transit center
After the company’s business personnel complete the express collection process, they will enter the express information into the system in a timely manner according to the regulations, and collect the express to the branch company where they are located.
Transit service
The express transit service refers to the process that after the user’s express arrives at the express company’s transit center, the transit center sorts, weighs, scans and transfers it to the transit center of the user’s destination through the automated sorting system.
(1) Sorting operation
After the transit center receives the express delivery collected by the branch company, it will determine the transit route according to the express destination, in the same city and different places, and carry out sorting, weighing, scanning, packing and other operations through the automatic sorting system, and gradually carry out the express delivery of each route. Packing and loading.
(2) Transit transportation
The transshipment center will deliver the routed packaged off-site express to the courier company transport fleet or air agency, and transport it to the destination transshipment center through land or air channels. In the case of express delivery within the jurisdiction of the same transshipment center, the transshipment center will deliver it to the destination outlet by the transport vehicle of the local network company.
Delivery service
Express delivery service refers to the process that the franchisee network company receives the arrivals from the transshipment center, and arranges the express business personnel to be responsible for delivering the express to the user and do the corresponding handover and settlement process.
(1) Receive express delivery from transit center
The outlet company will go to the transit center to receive the express delivery of the user within the specified time, and deliver it to the outlet company for subsequent delivery.
(2) Delivery to users
The express business personnel of the branch company will deliver the express to the user, and do the corresponding handover and settlement.
Express information service process
The express information service is mainly provided by the express company after identifying the customer information through the express face sheet, etc., and then providing the whole process of positioning and inquiry services through the express electronic information system. After the user submits the express and fills in the express information, the collection point will enter the express information into the express electronic information system of the express company. During the collection, transfer, and delivery of the express delivery, the barcodes of the face slips are scanned and registered in sequence, and users can check the real-time status of the express delivery through the website, mobile terminal APP and other channels according to the express delivery number.
The development of the express service industry and the market position of the industry in which the company operates
(1) The competition pattern of the industry continues to improve, and the leading effect is further highlighted
In recent years, my country’s consumption patterns have been continuously shifted to online, e-commerce, emerging social e-commerce platforms, live streaming and other models have flourished, the penetration rate of online shopping has further increased, and the consumption potential of residents has continued to be released. As an important logistics carrier, the express delivery industry has grown steadily. The leading express delivery service companies have continuously increased the construction of transshipment centers, deployed automated sorting equipment, invested in trunk transportation vehicles, optimized information technology platforms, and strengthened refined management. The infrastructure construction has achieved remarkable results, operating costs have continued to decline, and scale effects have become prominent. According to data from the State Post Bureau, the CR8 of express delivery and service brand concentration index in 2021 will be 80.5, indicating a relatively high market concentration. Relying on the advantages of talents, technology and capital, the leading express delivery companies have significantly improved their service quality and customer experience, gradually enhanced their brand effects, and accelerated the accumulation of advantageous resources to the top. The “Matthew effect” is more prominent.
(2) Consumption potential continues to be released, and the industry has a broad space for development
With the accelerated formation of a development pattern with domestic and international cycles as the mainstay and mutual promotion of domestic and international dual cycles, online retail has continuously cultivated new driving forces in the consumer market, and promoted the “dual cycle” of consumption by helping to upgrade the “quality” and “quantity” of consumption. In terms of domestic consumption cycle, online retail activates the urban and rural consumption cycle, and express delivery, as an important part of domestic consumption, will usher in an important development opportunity.
The number of Internet users and online shoppers continued to grow. According to the 49th “Statistical Report on China’s Internet Development Status” (hereinafter referred to as the “Report”) released by the China Internet Network Information Center (CNNIC), as of December 2021, the number of Chinese netizens reached 1.032 billion, an increase from December 2020. 42.96 million, and the Internet penetration rate reached 73.0%, an increase of 2.6 percentage points from December 2020. According to relevant statistics from CNNIC and the Ministry of Commerce, as of December 2021, the number of online shopping users in my country reached 842 million, an increase of 59.69 million from December 2020, accounting for 81.6% of the total netizens.
Driven by factors such as the construction of Internet technology facilities, the popularization of mobile terminal equipment, and the government’s dividend policy, my country’s Internet users and online shopping users have maintained growth for many years, and more than 1 billion Internet users will release huge online shopping market dividends for a long time.
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The diversified development of e-commerce platforms contributes to the increment of express delivery. With the integration of the Internet into all forms of society, the e-commerce industry has developed rapidly, the coverage areas have gradually increased, and new business forms and new models have continued to emerge. The catalysis of the new crown epidemic has accelerated the transfer of end consumers to online consumption. Online consumption has become an indispensable part of national life, and the online penetration rate of goods continues to increase. According to the data released by the National Bureau of Statistics, physical online retail sales will increase from 3.24 trillion in 2015 to 10.80 trillion in 2021. The scale of e-commerce has gradually increased, and the proportion of physical online retail sales in total social retail sales has gradually increased from 10.8% in 2015. 24.5% in 2021, basically the same as in 2020, mainly due to the jump in the penetration rate of e-commerce brought about by the epidemic in 2020, which brought high base pressure in 2021. In the future, from the perspective of user time, category and experience upgrades, There is still a lot of room for improvement in the penetration rate of e-commerce. According to data released by the China Logistics Information Center, the average e-commerce logistics index in 2021 is 110.3, an increase of 2.4 points over 2020 and close to the pre-epidemic average in 2019. Demand maintained rapid growth throughout the year, and the averages of the total business volume index and the rural business volume index were 126.6 and 125.9, 3.4 and 7.6 points higher than those in 2020, respectively.
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In the post-epidemic era, with the upgrading and transformation of consumption structure, the sinking of the e-commerce market, and the rise of new e-commerce forms such as second-class e-commerce and live broadcast e-commerce have contributed to a large number of incremental express delivery demands. With the effective conversion of entertainment traffic on video platforms such as Douyin, Kuaishou, and Bilibili, the fan economy, internet celebrity economy, and live broadcast economy have exploded. Phenomenon-level” marketing model, and opened the in-depth integration of e-commerce and live broadcast and short video content providers to achieve layered and precise marketing of products in all channels and all customer groups. Especially during the epidemic, the “home economy” became popular, and live webcasting went into daily life in an all-round way, achieving vigorous development. According to relevant statistics from CNNIC and the Ministry of Commerce: As of December 2021, the number of online live broadcast users in my country has reached 703 million, an increase of 86.52 million compared with December 2020, accounting for 68.2% of the total netizens. Among them, the scale of e-commerce live broadcast users has reached 4.64 100 million, accounting for 44.9% of the total netizens. According to the “2021 China Online Live Streaming Industry Development Research Report” released by iiMedia Research, as of December 2021, the number of China’s live streaming e-commerce related enterprises has reached 58,000; RMB 100 million, RMB 133 billion, RMB 433.8 billion, RMB 961 billion and RMB 1,201.2 billion, with a five-year compound growth rate of 182%. Therefore, with the improvement of 5G technology coverage and the changes in the consumption scenarios and consumption habits of residents due to the epidemic, based on the entertainment, interactivity and experiential advantages presented by live broadcast online shopping under the “home culture”, it is expected that e-commerce live broadcast will have greater advantages. There is room for development. It can be said that online celebrities bringing goods has become a new key to open the door to the new economy, and has become a new driving force to stimulate the growth of online consumption. At the same time, it has also contributed to a large number of incremental express delivery needs.
Life scene express delivery to facilitate consumer demand. With the development of high-frequency online consumption and online shopping habits, as well as the popularization of terminal service infrastructure such as post stations, express supermarkets, and smart express cabinets, at the same time, public accounts, mini programs and other delivery channels are diversified, convenient and accessible, and people’s life scenes The trend of express delivery is becoming more and more obvious. The application scenarios of express delivery are filling every corner of life: from the distribution of flowers, cakes, vegetable markets, and supermarkets in the same city, to errands such as buying medicines, picking up and delivering goods on behalf of others; From the return and exchange of durable goods such as clothing, cosmetics, and small electrical appliances, to the distribution of parts and components to factories and repair shops, receiving and sending packages has become a daily thing in the lives of ordinary people. . With the express delivery of life scenes, it will continue to change the way of circulation of goods between people, and more and more express packages will be released.
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The “two-in and one-out” project unleashes consumption potential. my country’s express delivery industry is obviously regional. As an important industrial base, economic development core area and population gathering area in China, the eastern region accounts for nearly 80% of the national express delivery business. With the gradual slowdown of the development increment in the eastern region, the central region has shown the effect of undertaking the relocation of the eastern industry and pre-positioning of warehouses, and the market potential of the central and western regions has been further stimulated. From 2015 to 2021, the proportion of express delivery business in the eastern region will drop by 3.9% percentage points, while the central and western regions increased by 3.4 percentage points and 0.5 percentage points respectively.
In 2021, Guangdong, Zhejiang, Jiangsu, Shandong, and Hebei, the top 5 provinces in terms of express business volume, will account for 32.1% of the country’s total population, and the realized GDP will account for 38.3% of the country’s total GDP, but 66% of the express business volume. With the continuous advancement of the “westward, downward” and “express delivery into the village” project and the continuous transfer of e-commerce platforms to the sinking market, the express service network continues to expand deeply into the central and western and rural consumer markets, and the western and regional sinking markets The continuous release of the potential of the industry will become a strong driving force for the industry to maintain stable and rapid growth.
(3) The industry ecology is moving towards a healthy and orderly manner, and service quality will become the focus of industry competition
In recent years, due to the unbalanced volume of express parcels caused by geographical factors and the homogenization of industry services, the competition focus of express companies has gradually shifted to irrational price competition. In order to promote the healthy and orderly development of the express industry, industry regulatory authorities We will make every effort to rectify and standardize irrational competitive behavior, accelerate the stabilization of the industry structure, and promote the development of the industry in a healthy and orderly direction; at the same time, actively call for opposition to “involution”, and promote the focus of industry competition from price competition to value competition.
Supervision guides the industry ecology towards healthy and orderly development. In April 2021, Zhejiang Province launched a special action to rectify the order of the express delivery market, and issued a warning letter to express delivery companies that competed unfairly; in July 2021, the Ministry of Transport, State Post Bureau, National Development and Reform Commission, Ministry of Human Resources and Social Security, Ministry of Commerce The Ministry of Commerce, the State Administration for Market Regulation, and the All-China Federation of Trade Unions jointly issued the “Opinions on Doing a Good Job in Protecting the Legal Rights and Interests of Courier Groups”; on September 29, 2021, the 31st meeting of the Standing Committee of the Thirteenth National People’s Congress of Zhejiang Province was reviewed and approved. “Zhejiang Express Industry Promotion Regulations”, this is the first local regulation in the country with the theme of promoting the development of the express industry. The “Regulations” clarify that express delivery companies shall not provide express services below cost prices without legitimate reasons; e-commerce operators are encouraged to Express delivery companies, express packaging, scheduled delivery, delivery methods, etc., provide recipients with personalized and differentiated express service options.
Consumption upgrades drive industry competition to shift to service quality. At present, the consumption level and consumption structure of Chinese residents are gradually upgraded. The consumer level pays more and more attention to the service quality and customer experience of express delivery products, and the demand for the express delivery industry has also shifted from basic services to refined services. The increasingly strong demands of customer stickiness have put forward higher requirements for the comprehensive service capabilities of the express delivery industry, and the industry will accelerate its entry into the stage of high-quality development. To promote the high-quality development and high-efficiency governance of the industry, the State Post Bureau proposes to coordinate the “three security”, improve the level of enterprise delivery safety, production safety, and information security intrinsic safety, enhance safety prevention and control capabilities, maintain industrial safety, and strengthen the construction of emergency management systems; It is necessary to implement “three points”, promote cost division, service stratification, product classification, and steadily realize differential pricing, high quality and superior price, and realize the value of the industry, the profit of enterprises, the dignity of employees, and the praise of users; “, take a clear-cut stand against “involution”, take a clear-cut stand against behaviors that damage the rights and interests of the industry, the legitimate rights and interests of employees, and the legitimate rights and interests of consumers, maintain a clear-cut market order, and focus on managing vicious low-price competition, out-of-scope operations, and empty packages; ”, adhere to the equal emphasis on pollution reduction and carbon reduction, accelerate the reduction, standardization and recycling of express packaging, and clarify the implementation path of the industry’s green and low-carbon transformation and development.
The industry is moving towards a high-quality development stage. With the network, technology, experience and manpower barriers built by leading express delivery companies, they have continuous advantages in improving timeliness and service quality. The long-term positive cycle of increasing market share has ushered in a good situation of steady development.
(4) The market position of the company in the industry
Founded in 1993, the “STO Express” brand has led the rapid development of my country’s express delivery industry. For many years, the express delivery volume has been at the forefront of its peers in the country, and it has formed a wide range of user recognition and strong market influence. As one of the well-known leading express service companies in China, the company has continued to consolidate its infrastructure in recent years, and continued to invest in core assets such as the construction of transshipment centers, equipment automation upgrades, trunk line capacity enhancement, and information system construction. The volume of express delivery business achieved steady growth. In 2021, the company completed a business volume of about 11.076 billion pieces, a year-on-year increase of 25.62%, and the market share reached 10.23%; the business volume completed in the fourth quarter was about 3.44 billion pieces, the year-on-year growth rate far exceeded the industry average, and the market share increased in an orderly manner , of which the market share reached 11.25% in December, setting a new high for the company in the past 17 months.
3. Main accounting data and financial indicators
(1) Major accounting data and financial indicators in the past three years
Whether the company needs to retrospectively adjust or restate accounting data for previous years
□ Yes √ No
unit: yuan
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(2) Major accounting data by quarter
unit: yuan
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Whether the above financial indicators or their totals are significantly different from the relevant financial indicators in the quarterly and semi-annual reports disclosed by the company
□ Yes √ No
4. Share capital and shareholders
(1) Number of common shareholders and preferred shareholders with restored voting rights and shareholdings of the top 10 shareholders
Unit: share
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(2) The total number of preferred shareholders of the company and the shareholding situation of the top 10 preferred shareholders
□ Applicable √ Not applicable
During the reporting period, the Company had no preferred shareholders’ shareholdings.
(3) Disclose the property rights and control relationship between the company and the actual controller in the form of a block diagram
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5. Status of bonds surviving on the date of approval of the annual report
√ Applicable □ Not applicable
(1) Basic information of bonds
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(2) The latest follow-up rating and rating changes of bonds
On June 22, 2021, China Chengxin International Credit Rating Co., Ltd. issued the “Shentong Express Co., Ltd.’s 2020 Public Issuance of Corporate Bonds (First and Second Phases) Tracking Rating Report (2021)”, the tracking rating conclusion: Maintain the company’s main credit rating at AA+, with a stable rating outlook; maintain the “20STO01” credit rating at AA+.
On June 22, 2021, China Chengxin International Credit Rating Co., Ltd. issued the “Shentong Express Co., Ltd.’s 2020 Public Issuance of Corporate Bonds (First and Second Phases) Tracking Rating Report (2021)”, rating conclusion: maintain The main credit rating of the company is AA+, the rating outlook is stable, and the “20STO02” credit rating issued by the company is AA+.
(3) Major accounting data and financial indicators of the company for the past two years as of the end of the reporting period
Unit: ten thousand yuan
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3. Important matters
The company held the second extraordinary general meeting of shareholders on August 16, 2021 to review and approve the “Proposal on the Company’s Non-public Issuance of A Shares in 2021”, and the total amount of funds to be raised shall not exceed RMB 3,500,786,200. As of the end of the reporting period, the company has not formally submitted the application materials for this non-public offering of A shares to the China Securities Regulatory Commission. The company will follow up on the market environment and the progress of the project in accordance with relevant rules and regulations.
STO Express Co., Ltd.
Legal representative: Chen Dejun
April 30, 2022
Stock Code: 002468 Stock Abbreviation: STO Express Announcement Number: 2022-032
STO Express Co., Ltd.
Announcement on Resolutions of the Twelfth Meeting of the Fifth Board of Directors
The Company and all members of the Board of Directors warrant that the content of the announcement is true, accurate and complete, and that there are no false records, misleading statements or major omissions.
1. Convening of Board Meetings
Shentong Express Co., Ltd. (hereinafter referred to as the “Company”) issued a notice of convening the 12th meeting of the fifth board of directors on April 19, 2022 by mail, telephone, etc. The meeting will be held on April 29, 2022 by means of a communication meeting 7 directors should attend the meeting, and 7 directors actually attended the meeting. The meeting was chaired by the chairman Mr. Chen Dejun. The convening of this meeting complied with the relevant laws and regulations such as the Company Law of the People’s Republic of China, normative documents and the relevant provisions of the Articles of Association.
II. Deliberation at the Board Meeting
After careful deliberation by all directors, the following resolutions were passed at the meeting:
1. Reviewed and approved the “Company 2021 Annual Report and Annual Report Summary”
Voting results: 7 affirmative votes, 0 negative votes, 0 abstentions, and 0 abstentions.
For details of the full text of the “2021 Annual Report of the Company”, please refer to the announcement disclosed by the company on the website http://www.cninfo.com.cn on the same day, and for details of the “Summary of the 2021 Annual Report”, please refer to “China Securities Journal”, “Securities Daily”, “Securities Times”, “Shanghai Securities News” and www.cninfo.com.cn, this proposal still needs to be submitted to the company’s 2021 annual general meeting for deliberation.
2. Reviewed and approved the “2021 Annual Work Report of the Company’s Board of Directors”
Voting results: 7 affirmative votes, 0 negative votes, 0 abstentions, and 0 abstentions.
For details, please refer to the company’s announcement on the website http://www.cninfo.com.cn on the same day. The current independent directors Mr. Zhang Wusheng, Ms. Yu Leping and Mr. Shen Hongbo submitted the “2021 Annual Report” to the board of directors. Work Report for Independent Directors”, and will conduct a work report at the 2021 Annual General Meeting of Shareholders. For details of the “2021 Work Report of Independent Directors”, please refer to the announcement disclosed on the CNINFO website (http://www.cninfo.com.cn) on the same day. This proposal still needs to be submitted to the company’s 2021 annual general meeting for deliberation.
3. Reviewed and approved the “2021 General Manager Work Report of the Company”
Voting results: 7 affirmative votes, 0 negative votes, 0 abstentions, and 0 abstentions.
4. Reviewed and approved the “2021 Annual Financial Final Report of the Company”
Voting results: 7 affirmative votes, 0 negative votes, 0 abstentions, and 0 abstentions.
For details, please refer to the announcement disclosed by the company on the CNINFO website (http://www.cninfo.com.cn) on the same day. This proposal still needs to be submitted to the company’s 2021 annual general meeting for deliberation.
5. Reviewed and approved the “2021 Internal Control Evaluation Report of the Company”
Voting results: 7 affirmative votes, 0 negative votes, 0 abstentions, and 0 abstentions.
The independent directors expressed their independent opinions on the “Company’s 2021 Internal Control Evaluation Report”. For details, please refer to the announcement disclosed on the CNINFO website (http://www.cninfo.com.cn) on the same day.
6. Reviewed and approved the “2021 Corporate Social Responsibility Report”
Voting results: 7 affirmative votes, 0 negative votes, 0 abstentions, and 0 abstentions.
For details, please refer to the announcement disclosed by the company on the CNINFO website (http://www.cninfo.com.cn) on the same day.
7. Reviewed and approved the “Proposal on the Company’s 2021 Profit Distribution”
Voting results: 7 affirmative votes, 0 negative votes, 0 abstentions, and 0 abstentions.
As audited by Daxin Certified Public Accountants (Special General Partnership), the parent company realized a net profit of -9,577,243.91 yuan in 2021, and 10% of the parent company’s net profit in 2021 was allocated to the statutory surplus reserve fund of 0.00 yuan, plus the undistributed profit at the beginning of the period of 292,821,362.24 yuan, After deducting the profit of 0.00 yuan from the previous year and deducting the 119,999,999.70 yuan adjusted to other comprehensive income due to the derecognition of other equity instrument investments, as of December 31, 2021, the parent company’s profit available for distribution to shareholders was 163,244,118.63 yuan.
According to the China Securities Regulatory Commission’s “Notice on Further Implementing Issues Concerning Cash Dividends of Listed Companies”, “Guidelines for the Supervision of Listed Companies No. 3 – Cash Dividends of Listed Companies” and the “Articles of Association”, in view of the fact that the company did not realize profits in the current year, In 2021, the company plans not to distribute cash dividends, not to send bonus shares, nor to convert the provident fund to increase the share capital. The company’s independent directors have expressed independent opinions on the “Proposal on the Company’s 2021 Profit Distribution”, and this proposal still needs to be submitted to the company’s 2021 annual general meeting for deliberation.
8. Reviewed and approved the “Proposal on Renewing the Company’s 2022 Audit Institution”
Voting results: 7 affirmative votes, 0 negative votes, 0 abstentions, and 0 abstentions.
Daxin Certified Public Accountants (special general partnership) has the qualifications to engage in securities and futures-related business, and has rich experience in auditing listed companies. During the period of serving as the company’s auditing agency, it was diligent and responsible, followed the independent, objective and fair professional standards, and issued a certificate for the company. The audit reports for each period objectively and fairly reflect the company’s financial status and operating results for each period. The company intends to continue to employ him as the company’s auditor in 2022, and agrees to submit the above matters to the 2021 annual general meeting for consideration.
The independent directors issued prior approval opinions and independent opinions on the “Proposal on Renewing the Company’s Audit Institution in 2022”. This proposal still needs to be submitted to the company’s 2021 annual general meeting for deliberation.
9. Reviewed and approved the “Proposal on the Remuneration of Senior Management in 2022”
Voting results: 4 affirmative votes, 0 negative votes, 0 abstentions, and 3 abstentions.
Directors Mr. Wang Wenbin, Mr. Han Yongyan, and Mr. Shen Tu Junsheng, who are also senior management personnel of the company, abstained from voting on this proposal, and the independent directors of the company expressed their independent opinions on the “Proposal on the Remuneration of Senior Executives in 2022”.
10. Reviewed and approved the “Proposal on Using Idle Funds for Investment and Financial Management”
Voting results: 7 affirmative votes, 0 negative votes, 0 abstentions, and 0 abstentions.
The independent directors of the company expressed their independent opinions on the proposal. For details, please refer to the announcement disclosed by the company on http://www.cninfo.com.cn on the same day.
According to the “Shenzhen Stock Exchange Listing Rules” (revised in 2022), “Articles of Association” and other relevant regulations, the matter still needs to be submitted to the company’s 2021 annual general meeting for deliberation, and the company’s management will make specific decisions and authorizations after the approval and authorization of the general meeting of shareholders. Arrange for implementation.
11. Reviewed and approved the “Proposal on the Provision of Asset Impairment Reserves and Write-off of Bad Debts in 2021”
Voting results: 7 affirmative votes, 0 negative votes, 0 abstentions, and 0 abstentions.
In accordance with the “Accounting Standards for Business Enterprises” and the company’s relevant accounting policies, combined with the company’s 2021 annual operating performance, cash flow generated by related assets and the realization of operating profits, it is a true reflection of the company’s financial status, asset value and business operations. As a result, the company has sorted out and analyzed the relevant asset values in the consolidated statements as of December 31, 2021, tested by asset class, and made provision for asset impairment for existing assets that may suffer asset impairment losses. Accounts receivable that have been confirmed as irrecoverable are cleared and written off. For details, please refer to the “Announcement on Provision for Asset Impairment and Write-off of Bad Debts in 2021” disclosed by the company on the website of http://www.cninfo.com.cn/.
The board of supervisors and independent directors of the company have expressed relevant opinions on this proposal. For details, please refer to the relevant announcements disclosed by the company on the http://www.cninfo.com.cn/.
12. Reviewed and approved the “Company 2022 First Quarterly Report”
Voting results: 7 affirmative votes, 0 negative votes, 0 abstentions, and 0 abstentions.
For details of the Company’s 2022 First Quarterly Report, it will be disclosed in China Securities Journal, Securities Daily, Securities Times, Shanghai Securities News and www.cninfo.com.cn on the same day. announcement.
13. Reviewed and approved the Proposal on Purchasing Liability Insurance for Directors, Supervisors and Senior Management
All directors of the company abstained from voting on the purchase of liability insurance for directors, supervisors and senior executives, and the matter was directly submitted to the company’s 2021 annual general meeting for deliberation. The independent directors have expressed relevant opinions on this proposal. For details, please refer to the relevant announcements disclosed by the company on the http://www.cninfo.com.cn/.
14. Reviewed and approved the “Proposal on Holding the 2021 Annual General Meeting of Shareholders”
Voting results: 7 affirmative votes, 0 negative votes, 0 abstentions, and 0 abstentions.
The company plans to hold the 2021 Annual General Meeting of Shareholders at 15:00 on May 27, 2022 (Friday) to review the above-mentioned matters that need to be submitted to the General Meeting of Shareholders for deliberation. For details, please refer to the company’s “China General Meeting of Shareholders” for details. Securities News, Securities Daily, Securities Times, Shanghai Securities News and the announcements disclosed on www.cninfo.com.cn.
Special announcement.
Board of Directors of Shentong Express Co., Ltd.
April 30, 2022
Stock Code: 002468 Stock Abbreviation: STO Express Announcement Number: 2022-031
STO Express Co., Ltd.
Notice on Holding the 2021 Annual General Meeting of Shareholders
The Company and all members of the Board of Directors warrant that the content of the announcement is true, accurate and complete, and that there are no false records, misleading statements or major omissions.
The Twelfth Meeting of the Fifth Board of Directors of Shentong Express Co., Ltd. (hereinafter referred to as the “Company”) reviewed and approved the “Proposal on the Convening of the 2021 Annual General Meeting of Shareholders”, and decided that the company will be held at 15:00 on May 27, 2022 (Friday). The 2021 annual general meeting of the company is held, and the relevant matters of this meeting are hereby notified as follows:
1. Basic information about convening the meeting
(1) Session of the General Meeting of Shareholders: 2021 Annual General Meeting of Shareholders
(2) The convener of the meeting: the board of directors of the company
(3) Legality and compliance of the meeting: The meeting of the shareholders’ general meeting was held in compliance with relevant laws, administrative regulations, departmental rules, regulatory documents and the company’s articles of association.
(4) On-site meeting time: 15:00 on May 27, 2022 (Friday)
Online voting time: May 27, 2022. in:
1. The specific time for online voting through the Shenzhen Stock Exchange trading system is 9:15-9:25, 9:30-11:30 and 13:00-15:00 on May 27, 2022;
2. The specific time for online voting through the Shenzhen Stock Exchange is any time between 9:15-15:00 on May 27, 2022.
(V) Convening method of the meeting: The general meeting of shareholders will be held by a combination of on-site voting and online voting.
(6) Equity registration date: May 23, 2022 (Monday)
(7) Participants:
1. All shareholders of the company registered in the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited as of the afternoon market close on May 23, 2022. All shareholders of the above-mentioned companies have the right to attend and vote at this extraordinary general meeting in the manner announced in this notice; shareholders who cannot attend the on-site meeting in person may authorize others to attend the meeting on their behalf (the authorized person does not have to be a shareholder of the company, please refer to the power of attorney for details. Attachment 1), or participate in the online voting during the online voting time. (Go to version 1075 down)
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete, and that there are no false records, misleading statements or major omissions.
Important content reminder:
1. The board of directors, the board of supervisors, directors, supervisors and senior management personnel guarantee that the quarterly report is true, accurate and complete, and that there are no false records, misleading statements or major omissions, and bear individual and joint legal responsibilities.
2. The person in charge of the company, the person in charge of the accounting work and the person in charge of the accounting organization (the person in charge of accounting) hereby declare that the financial information in the quarterly report is true, accurate and complete.
3. Is the first quarter report audited?
□ Yes √ No
1. Main financial data
(1) Main accounting data and financial indicators
Whether the company needs to retrospectively adjust or restate accounting data for previous years
□ Yes √ No
■
(2) Non-recurring profit and loss items and amounts
√ Applicable □ Not applicable
unit: yuan
■
Details of other profit and loss items that meet the definition of non-recurring profit and loss:
□ Applicable √ Not applicable
The company has no specific circumstances of other profit and loss items that meet the definition of non-recurring profit and loss.
Explanation on defining the non-recurring profit and loss items listed in the “Explanatory Announcement on Information Disclosure by Companies Offering Securities to the Public No. 1 – Non-recurring Profit and Loss” as recurring profit and loss items
□ Applicable √ Not applicable
The company does not define the non-recurring profit and loss items listed in the “Explanatory Announcement on Information Disclosure of Companies Offering Securities No. 1 – Non-recurring Profit and Loss” as recurring profit and loss items.
(3) Changes and reasons for major accounting data and financial indicators
√ Applicable □ Not applicable
■
2. Shareholder Information
(1) The total number of ordinary shareholders, the number of preferred shareholders whose voting rights have been restored, and the shareholding situation of the top ten shareholders
Unit: share
■
(2) The total number of preferred shareholders of the company and the shareholding situation of the top 10 preferred shareholders
□ Applicable √ Not applicable
3. Other important matters
□ Applicable √ Not applicable
4. Quarterly Financial Statements
(1) Financial Statements
1. Consolidated balance sheet
Prepared by: Shentong Express Co., Ltd.
March 31, 2022
unit: yuan
■
Legal representative: Chen Dejun Person in charge of accounting work: Liang Bo Person in charge of accounting organization: Li Ming
2. Consolidated income statement
unit: yuan
■
Legal representative: Chen Dejun Person in charge of accounting work: Liang Bo Person in charge of accounting organization: Li Ming
3. Consolidated cash flow statement
unit: yuan
■
(2) Audit report
Is the first quarter report audited?
□ Yes √ No
The company’s first quarter report was unaudited.
Board of Directors of Shentong Express Co., Ltd.
April 30, 2022
2022 First Quarter Report
STO Express Co., Ltd.
Stock Code: 002468 Stock Abbreviation: STO Express Announcement Number: 2022-034
