Stock Code: 600415 Stock Short Name: 小商品城
Zhejiang China Commodities City Group
Co., Ltd.
2020 Annual Report
ImportantNote
I. The board of directors, the supervisory committee and the directors,
supervisors and senior management of the Companyhereby warrant the
truthfulness, accuracy and completeness of the contents of the Annual
Report, guarantee that there are no false representations, misleading
statements or material omissions contained in this Annual Report, and
are jointly and severally responsible for the liabilities of the Company.
II. Absent directors
Title of absent Name of absent Reasons for the absence Name of person entrusted
directors directors of directors
Independent director HONG Jianqiao Due to work reasons MA Shuzhong
Director GU Zhixu Due to work reasons XU Hang
III. Ernst & Young Hua Ming Certified Public Accountants (special general
partnership) has issued a standard unqualified audit opinion for the
Company.
IV. ZHAO Wenge, Head of the Company, WANG Dong, Head in charge of
accounting, and ZHAO Difang, Head of the accounting department
(Accounting Supervisor), declare that they warrant the truthfulness,
accuracy and completeness of the financial report in the annual report.
V. Is there any profit distribution proposal or capital reserve conversion
proposal for the reporting period that has been deliberated by the Board
of Directors?
Based on the total share capital on the registration date of profit distributi on equity in 2020, cash
di vid en ds of RMB 0.55 (tax inclusive) will be distributed for every 10 shares. According to the current
total share capital of the Company, cash di vidends of RMB 301,945,279.68 (tax inclusi ve) will be
distributed. In the event of changes in the total share capital of the Company before the divi de nd
distribution registration date, the percentage of allocation shall remain unchanged while the total
profits distribution will be adjusted accordingly.
VI. Risk statement with forward-looking representations
√Appicable □Not Applicable
The forward-looking representations involved in this Report such as future plans and
development strategies do not constitute the Company’s substantial commitments to investors.
Investors shall watch out for the investment risks.
VII. Is the Company’s cash occupied by its controlling shareholder or any of
its affiliates for non-operational purposes?
NO
VIII. Has the Company provided external guaranteein violation of the
prescribed decision-making procedures?
NO
IX. Whether more than half of the directors can not warrant the truthfulness,
accuracy and completeness of the annual report disclosed by the
Company
NO
X. Reminder of major risks
The Company has described the risks that may exist in this Report in details. Please refer to the
possible risks in the discussion and analysis of operation in Section 4 of this report.
XI. Others
□Applicable √Not applicable
Table of Contents
Section I. Definitions......5
Section II. Company Profile and Financial Highlights......6
Section III. Company Operational Highlights......12
Section IV. Discussion and Analysis of Operation ......16
Section V. Significant Matters......48
Section VI. Changes in Common Shares and Shareholders......71
Section VII. Preferred Shares......78
Section VIII. Directors, Supervisors, Senior Managers and Employees ......79
Section IX. Corporate Governance......88
Section X. Corporate Bonds......93
Section XI. Financial Report......98
Section XII. Documents for Inspection ......243
Section I. Definitions
I. Definitions
For the purpose of this Report, unless otherwise stated in the context, the following terms shall have
the following meanings:
Definitions
SCO means Yiwu State-owned Capital Operation Co., Ltd.
MDG means Yiwu Market Development Group Co., Ltd.
CCCP means Yiwu China Co mmoditi es City Property
Development Co., Ltd.
CCCF means Yiwu China Commodities City Financial Hol din gs
Co., Ltd.
IT Company means Yiwu China Commodities City Information
Technology Co., Ltd.
Payment Network Company means Yiwu China Commodities City Payment Network
Technology Co., Ltd.
Huishang Micro-finance means Yiwu Huishang Micro-finance Co., Ltd.
Haicheng Company means Haicheng Yiwu China Comm odities City
Investment Developme
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