EASTCOM(600776)

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东方通信(600776) - 2016 Q1 - 季度财报
2016-04-29 16:00
Financial Performance - Operating revenue for the period was CNY 608,122,322.71, reflecting an 11.95% increase year-on-year[7] - Net profit attributable to shareholders was CNY 5,130,878.59, a significant decrease of 69.47% compared to the previous year[7] - Basic earnings per share decreased by 40.53% to CNY 0.0134 from CNY 0.0226 in the previous year[7] - The company's total assets decreased to CNY 3,387,050,748.26 from CNY 3,540,600,870.00, a decline of 4.3%[22] - Net profit for Q1 2016 was CNY 16,277,388.94, a decrease of 41.3% from CNY 27,736,619.48 in the previous year[24] - The total cash and cash equivalents at the end of the period decreased to CNY 350,002,834.89 from CNY 792,604,005.45, reflecting a decline of approximately 56%[29] - The company reported a total profit of CNY 2,852,482.85, down from CNY 6,024,036.58 in the previous year, indicating a decrease of about 53%[26] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 243,629,601.16, worsening by 50.03% compared to the same period last year[7] - The net cash flow from operating activities was negative at CNY -243,629,601.16, worsening from CNY -162,390,996.38 in the previous year[28] - Investment activities generated a net cash inflow of CNY 39,540,811.09, compared to a net outflow of CNY -79,173,631.81 in the same period last year[28] - The cash inflow from operating activities totaled CNY 607,273,529.25, an increase of 30% compared to CNY 467,567,353.24 in the previous year[28] Shareholder Information - The number of shareholders at the end of the reporting period was 80,599[12] - The largest shareholder, Putian Oriental Communication Group Co., Ltd., held 570,712,740 shares, accounting for 45.44% of total shares[12] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 3,730,256,803.85, a 0.35% increase compared to the end of the previous year[7] - Non-current assets totaled ¥789,429,370.32, up from ¥769,706,638.57 at the beginning of the period[18] - Total liabilities decreased to ¥715,708,207.92 from ¥719,035,790.21, reflecting a reduction in current liabilities[18] - Current assets increased to CNY 2,541,662,361.27 from CNY 2,502,697,072.28, representing a growth of 1.6%[21] Operating Costs and Expenses - Total operating costs for Q1 2016 were CNY 609,295,779.98, up from CNY 540,591,711.21, reflecting a year-over-year increase of 12.7%[23] - The company incurred management expenses of CNY 39,977,355.13, slightly lower than CNY 41,565,976.49 in the same period last year[26] - Financial expenses increased by 124.63% to ¥1,218,515.32 due to a decrease in interest income from time deposits[15] - The financial expenses for the quarter were CNY 1,630,882.58, a significant improvement from a gain of CNY -3,359,525.11 in the previous year[26] Investment Income - Investment income rose by 61.53% to ¥18,244,182.09 driven by increased returns from entrusted loans and joint ventures[15] - The company reported an investment income of CNY 18,244,182.09, an increase from CNY 11,294,602.79 year-over-year[23] - The company received CNY 220,000,000.00 from investment recoveries during the quarter, indicating active investment management[28] Other Financial Metrics - Non-recurring gains and losses totaled CNY 11,720,647.45 for the period[10] - The weighted average return on equity decreased by 0.41 percentage points to 0.57%[7] - The company reported a net loss from non-operating activities of CNY 126,831.98[10] - Prepayments increased by 113.64% to ¥61,244,682.93 due to increased procurement of raw materials in the financial electronics industry[14] - Notes payable decreased by 44.39% to ¥13,984,968.00 as a result of the maturity of procurement payments[14] - Employee compensation payable decreased by 49.82% to ¥51,298,338.05 primarily due to the payment of last year's employee salaries[14] - Taxes payable decreased by 65.35% to ¥13,959,437.18 mainly due to the payment of last year's tax liabilities[14] - Other payables increased by 80.27% to ¥126,045,273.29 due to collection of payments in factoring business[14]
东方通信(600776) - 2015 Q4 - 年度财报
2016-04-18 16:00
Financial Performance - In 2015, the company's operating revenue was CNY 3,565,925,468.23, a decrease of 3.92% compared to CNY 3,711,605,145.68 in 2014[21] - The net profit attributable to shareholders was CNY 169,799,041.36, down 5.38% from CNY 179,447,632.48 in the previous year[21] - The basic earnings per share decreased to CNY 0.1352, a decline of 5.38% from CNY 0.1429 in 2014[23] - The total revenue for 2015 was CNY 3,533,228,472.88, with a year-on-year decrease of 1.91%[51] - The company reported a total profit of CNY 191,809,052.00 for 2015, down 5.5% from CNY 202,974,632.47 in the previous year[170] - The company achieved historical highs in communication service revenue and operating profit, exceeding annual operational targets[44] Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -10,806,712.79, a significant decrease of 114.53% compared to CNY 74,355,286.63 in 2014[21] - The company's cash and cash equivalents decreased by 49.88% year-on-year, totaling CNY 637.23 million at the end of 2015[35] - The total assets at the end of 2015 were CNY 3,717,306,997.20, an increase of 2.44% from CNY 3,628,821,084.18 in 2014[22] - Current assets decreased to CNY 2,947,600,358.63 from CNY 3,002,378,715.02, representing a decline of about 1.83%[164] - Cash and cash equivalents dropped significantly from CNY 1,271,531,760.68 to CNY 637,228,926.10, a decrease of approximately 49.95%[164] Investments and R&D - The company invested CNY 160.66 million in R&D in 2015, representing a 4.4% increase compared to the previous year[46] - Development expenditures surged by 518.07% year-on-year, amounting to CNY 32.16 million, reflecting increased project investments[35] - The company is focusing on enhancing its research and development capabilities in the private network communication sector, particularly in PDT and TETRA markets[71] Market Position and Strategy - The company has maintained a leading position in the domestic financial electronic products sector, focusing on cash withdrawal machines and related services[32] - The company is expanding its market presence in information security and smart city solutions, aiming for sustainable growth in these sectors[32] - The company plans to expand its market share in financial electronics and self-service devices, leveraging its competitive advantages in information security and cash self-service equipment[71] Shareholder and Governance - The company has maintained a cash dividend policy, distributing 0.6 yuan per share in 2015, with a payout ratio of 44.38% of net profit attributable to shareholders[82][83] - The company has a diverse board with members holding various significant positions in other organizations, enhancing its governance and strategic direction[126] - The independent directors contribute to the company's governance, with a focus on compliance and risk management[126] Risks and Challenges - The company faces risks related to technology and product updates, market competition, and human resources, which could impact its profitability and growth[79][80][81] - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its capabilities[127] Employee and Management Structure - The total number of employees in the parent company is 2,388, and the total number of employees in major subsidiaries is 665, resulting in a combined total of 3,053 employees[136] - The company has implemented a salary system that links total employee income to company performance, department performance, and individual work performance[137] - The management team includes experienced professionals with backgrounds in finance, technology, and academia, contributing to the company's strategic planning and execution[126] Compliance and Reporting - The company has a well-defined internal control system and governance structure, complying with relevant laws and regulations[141] - The company has made efforts to ensure timely and accurate information disclosure to protect investors' rights[142] - The company's financial statements were prepared in accordance with the relevant accounting standards, ensuring compliance with regulatory requirements[196]
东方通信(600776) - 2015 Q3 - 季度财报
2015-10-28 16:00
Financial Performance - Operating revenue for the year-to-date was CNY 2,446,063,030.42, representing a decline of 10.69% year-on-year[6] - Net profit attributable to shareholders was CNY 98,017,890.56, a slight increase of 0.15% compared to the same period last year[6] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 66,783,272.72, an increase of 47.84% year-on-year[6] - The weighted average return on equity was 3.39%, down from 3.55% in the previous year[7] - Basic earnings per share were CNY 0.078, a marginal increase of 0.15% compared to the previous year[7] - Total operating revenue for Q3 2015 was ¥526,599,388.38, a decrease of 46.1% compared to ¥979,543,388.59 in Q3 2014[27] - Net profit for the first nine months of 2015 was ¥96,340,075.37, down 1.6% from ¥97,866,669.47 in the same period last year[28] - Operating profit for Q3 2015 was ¥16,216,024.71, a decline of 48.2% from ¥31,331,559.27 in Q3 2014[27] - Basic earnings per share for Q3 2015 were ¥0.017, down from ¥0.029 in Q3 2014[28] - Net profit for the first nine months of 2015 was approximately ¥68.50 million, down 67.60% from ¥211.36 million in the same period last year[31] Cash Flow and Investments - The net cash flow from operating activities was negative CNY 468,045,199.08, a decline of 16.09% year-on-year[6] - The company reported a net cash flow from operating activities of approximately -¥468.05 million for the first nine months of 2015, compared to -¥403.17 million in the previous year[32] - Investment activities resulted in a net cash outflow of approximately -¥227.09 million, a significant decrease from a net inflow of ¥298.42 million in the same period last year[33] - The net cash flow from investment activities was -136,568,816.64 CNY, compared to 308,813,295.57 CNY in the same period last year[36] - Cash inflow from financing activities was 95,788,700.00 CNY, an increase from 52,270,113.87 CNY in the previous year[36] - The net cash flow from financing activities was -81,395,561.23 CNY, worsening from -36,945,817.35 CNY year-over-year[36] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,489,558,418.21, a decrease of 3.84% compared to the end of the previous year[6] - The company's current assets totaled CNY 2,816,451,317.88, down from CNY 3,002,378,715.02 at the beginning of the year, indicating a decrease of about 6.16%[21] - Total liabilities decreased from CNY 723,075,822.31 to CNY 562,833,084.81, a reduction of about 22.1%[22] - The company's equity attributable to shareholders increased from CNY 2,865,184,766.34 to CNY 2,887,842,653.06, showing a slight increase of approximately 0.79%[22] - The total assets of Dongfang Communication Co., Ltd. as of September 30, 2015, amounted to CNY 3,489,558,418.21, a decrease from CNY 3,628,821,084.18 at the beginning of the year, reflecting a decline of approximately 3.85%[21] Shareholder Information - The total number of shareholders at the end of the reporting period was 74,738[11] - The largest shareholder, Putian Oriental Communication Group Co., Ltd., held 45.44% of the shares[11] - The controlling shareholder, Putian Dongfang Communication Group Co., Ltd., pledged not to reduce its holdings in Dongfang Communication Co., Ltd. during 2015, and this commitment is still being honored[16] Operational Changes and Future Outlook - The company received government subsidies amounting to CNY 3,649,400.00 during the reporting period[8] - The company’s management indicated a focus on improving operational efficiency and exploring new market opportunities moving forward[30]
东方通信(600776) - 2015 Q2 - 季度财报
2015-08-12 16:00
Financial Performance - The company's operating revenue for the first half of 2015 was CNY 1,919,463,642.04, representing a 9.10% increase compared to CNY 1,759,284,351.47 in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2015 was CNY 76,504,571.14, which is a 23.71% increase from CNY 61,843,838.52 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 56,830,444.55, showing a significant increase of 104.96% compared to CNY 27,727,346.14 in the same period last year[21]. - The basic earnings per share for the first half of 2015 was CNY 0.0609, up 23.71% from CNY 0.0492 in the same period last year[22]. - The weighted average return on equity increased to 2.63%, up 0.39 percentage points from 2.24% in the previous year[22]. - The company's total assets at the end of the reporting period were CNY 3,609,593,581.83, a decrease of 0.53% from CNY 3,628,821,084.18 at the end of the previous year[21]. - The net cash flow from operating activities for the first half of 2015 was negative CNY 426,438,158.22, slightly improved from negative CNY 433,197,380.60 in the same period last year[21]. - The net assets attributable to shareholders at the end of the reporting period were CNY 2,866,329,333.64, a marginal increase of 0.04% from CNY 2,865,184,766.34 at the end of the previous year[21]. Revenue Breakdown - The financial electronics sector saw operating revenue of CNY 392.7 million, with a year-on-year increase of 25.25%[36]. - Domestic revenue accounted for CNY 1.859 billion, reflecting a 9.79% increase year-on-year, while international revenue grew by 24.43% to CNY 45.5 million[39]. - The company's operating costs rose to CNY 1.712 billion, an increase of 9.6% year-on-year[32]. Investments and Loans - The company holds a 30% equity stake in Hangzhou Eastcom Baifeng Technology with an investment cost of ¥7,500,000, showing a decrease of 10.60% from the previous period[43]. - The company has issued a total of ¥48,000,000 in entrusted loans to Zhejiang Qingyuan Green Universe Holdings, with a loan term of 1 year and an interest rate of 14%[48]. - An additional ¥65,000,000 was entrusted to Zhejiang Landun Real Estate Development for a 1-year loan at an interest rate of 11.50%, which was successfully recovered in April 2015[49]. - The company has also provided a loan of ¥54,600,000 to Shenzhen Tianmei Investment Development, secured by shares of Huashu Media Holdings[50]. - A total of ¥110,000,000 was entrusted to CITIC Securities for investment in stock pledge repurchase transactions, with a loan term of 1 year[51]. Subsidiary Performance - Subsidiary Hangzhou Dongxin Financial Technology Service Co., Ltd. achieved revenue of CNY 87.52 million, a year-on-year increase of 26%, and net profit of CNY 43.26 million, a year-on-year increase of 76%[53]. - Subsidiary Hangzhou Dongxin Network Technology Co., Ltd. reported revenue of CNY 159.36 million, a year-on-year increase of 16%, and net profit of CNY 14.23 million, a year-on-year increase of 179%[53]. Cash Flow and Liquidity - The company's cash and cash equivalents decreased to RMB 663,922,593.66 from RMB 1,271,531,760.68, representing a decline of approximately 47.8%[86]. - Accounts receivable increased significantly to RMB 930,960,963.57 from RMB 565,142,170.92, marking an increase of about 64.6%[86]. - Inventory levels rose to RMB 652,072,600.39, up from RMB 631,597,959.90, indicating a growth of approximately 3.5%[86]. - The company reported a total of 2,082,600 stock options held by executives at the beginning of the period, with 1,457,820 remaining at the end, indicating a reduction in options held[79]. Corporate Governance and Shareholder Information - The total number of shareholders reached 65,328 by the end of the reporting period[73]. - The largest shareholder, Putian Oriental Communication Group Co., Ltd., holds 570,712,740 shares, representing 45.44% of the total shares[74]. - Beijing Jinsun Yangguang Investment Co., Ltd. increased its holdings by 22,782,809 shares, now holding 1.81% of the total shares[74]. Legal and Regulatory Matters - The company is currently involved in a civil lawsuit with Zhejiang Qingyuan Green Universe Holdings Co., Ltd. for an amount of CNY 48,000,000, with the court currently preparing for auction of the mortgaged property[58]. - The company has not reported any major asset acquisitions or disposals during the reporting period[67]. Accounting Policies and Financial Reporting - The financial statements are prepared based on the going concern assumption and comply with the relevant accounting standards issued by the Ministry of Finance and the China Securities Regulatory Commission[112]. - The company recognizes revenue from product sales when the significant risks and rewards of ownership have been transferred to the buyer, and the amount can be reliably measured[182]. - Service revenue is recognized based on the percentage of completion method when the outcome of the service transaction can be reliably estimated[184]. - Government grants related to assets are recognized as deferred income and allocated to profit or loss over the useful life of the related assets[185]. Taxation and Incentives - The company benefits from a VAT export refund rate of 15% for its ATM products, enhancing its profitability[194]. - The company is recognized as a high-tech enterprise, allowing it to enjoy a reduced corporate income tax rate of 15% for three years[194]. - The company’s subsidiaries are subject to various tax incentives, including a two-year exemption and a 50% reduction in corporate income tax for software enterprises[195].
东方通信(600776) - 2015 Q1 - 季度财报
2015-04-29 16:00
Financial Performance - Operating revenue declined by 9.71% to CNY 543,219,694.90 year-on-year[5] - Net profit attributable to shareholders increased by 336.70% to CNY 16,807,432.50 compared to the same period last year[5] - Basic and diluted earnings per share rose by 20.21% to CNY 0.02255885[5] - Total revenue for Q1 2015 was CNY 543,219,694.90, a decrease of 9.7% from CNY 601,657,948.28 in the previous year[22] - Operating profit for Q1 2015 was CNY 13,922,586.48, slightly down from CNY 14,388,612.19 in the same period last year[22] - Net profit for Q1 2015 reached CNY 27,736,619.48, an increase of 16.4% compared to CNY 23,797,584.82 in Q1 2014[22] - The total profit for Q1 2015 was 6,024,036.58 RMB, a decrease from 22,979,234.47 RMB in the same period last year, representing a decline of approximately 73.8%[26] - The net profit for Q1 2015 was 5,418,698.18 RMB, down from 19,717,740.89 RMB year-over-year, indicating a decrease of about 72.6%[26] Assets and Liabilities - Total assets decreased by 2.26% to CNY 3,546,860,718.28 compared to the end of the previous year[5] - Total assets decreased to ¥3,546,860,718.28 from ¥3,628,821,084.18, reflecting a reduction in overall asset value[17] - Total liabilities decreased to ¥613,378,836.93 from ¥723,075,822.31, indicating a reduction in the company's obligations[17] - Current liabilities decreased to CNY 848,768,879.39 from CNY 974,040,290.40, a reduction of 12.9%[20] Cash Flow - Cash flow from operating activities improved by 36.20%, reaching CNY -162,390,996.38[5] - Cash inflow from operating activities totaled 467,567,353.24 RMB, compared to 493,949,254.20 RMB in the prior year, marking a decrease of about 5.3%[28] - Cash outflow from operating activities was 629,958,349.62 RMB, down from 748,474,829.37 RMB, indicating a reduction of approximately 15.9%[28] - Cash flow from operating activities showed a net outflow of -162,390,996.38 RMB, an improvement from -254,525,575.17 RMB in the previous year, reflecting a reduction in losses of approximately 36.2%[28] Shareholder Information - The total number of shareholders reached 69,565 at the end of the reporting period[10] - The largest shareholder, Putian Oriental Communication Group Co., Ltd., holds 602,620,970 shares, accounting for 47.98% of total shares[10] Other Income and Expenditures - The company received government subsidies amounting to CNY 4,250,000.00 related to its normal business operations[8] - Non-operating income totaled CNY 11,526,486.79 after accounting for various non-recurring items[9] - The company achieved an investment income of CNY 11,294,602.79, compared to CNY 11,542,191.90 in the previous year, reflecting a decrease of 2.1%[22] - The company received 5,712,666.84 RMB in investment income during Q1 2015, down from 12,985,041.82 RMB in the same period last year, a decrease of approximately 56.0%[29] Receivables and Payables - Accounts receivable decreased by 40.57% to ¥25,253,726.92 from ¥42,495,992.54, primarily due to the acceptance of sales payment at the end of the period[12] - Prepayments increased by 30.86% to ¥33,098,810.02 from ¥25,292,946.20, mainly due to prepayments for engineering expenses by subsidiary Hangzhou Dongxin Network Technology Co., Ltd.[12] - Interest receivable rose by 130.30% to ¥10,318,433.75 from ¥4,480,393.05, attributed to differences in interest settlement methods for entrusted loan projects[12] - Other receivables increased by 50.46% to ¥38,594,519.12 from ¥25,650,667.32, mainly due to an increase in bid guarantee deposits[12] - Accounts payable decreased by 75.05% to ¥8,888,960.00 from ¥35,622,793.00, mainly due to the acceptance of procurement payments at the end of the period[13] - Accounts payable increased by 41.07% to ¥312,564,947.84 from ¥221,573,328.14, primarily due to unsettled procurement payments[13] Investment Activities - Investment activities resulted in a net cash outflow of -79,173,631.81 RMB, contrasting with a net inflow of 68,272,700.76 RMB in the previous year[29] - The total cash inflow from investment activities was 5,731,822.84 RMB, significantly lower than 70,945,131.10 RMB in the previous year, indicating a decline of about 91.9%[29] - The company reported a cash outflow of 66,000,000.00 RMB for investment payments, compared to 40,000,000.00 RMB in the same period last year, an increase of 65.0%[31]
东方通信(600776) - 2014 Q4 - 年度财报
2015-04-27 16:00
Financial Performance - In 2014, the company's operating revenue reached CNY 3,711,605,145.68, representing a year-on-year increase of 7.98% compared to CNY 3,437,220,265.62 in 2013[21] - The net profit attributable to shareholders of the listed company for 2014 was CNY 179,447,632.48, a decrease of 7.37% from CNY 193,717,111.51 in 2013[21] - The net profit after deducting non-recurring gains and losses was CNY 88,207,980.98, down 15.18% from CNY 103,996,266.13 in the previous year[21] - The cash flow generated from operating activities was CNY 74,355,286.63, a significant improvement compared to a negative cash flow of CNY -189,588,568.97 in 2013, marking a 139.22% increase[21] - The company achieved operating revenue of 3.712 billion RMB, an increase of 8% year-on-year[30] - The net profit for the year was 179 million RMB, a decrease of 7% compared to the previous year[30] - Basic earnings per share decreased by 7.37% to 0.1429 RMB per share[24] - The weighted average return on equity fell to 6.432%, a decrease of 0.784 percentage points[24] Assets and Liabilities - As of the end of 2014, the total assets of the company amounted to CNY 3,628,821,084.18, reflecting a 5.50% increase from CNY 3,439,765,070.39 at the end of 2013[21] - The total liabilities increased to CNY 990,660,754.99, compared to CNY 756,186,231.85 in the previous year, reflecting a growth of 30.93%[175] - The company's total assets reached RMB 3,628,821,084.18, up from RMB 3,439,765,070.39, marking an increase of around 5.5%[172] - The company's total liabilities were RMB 723,075,822.31, compared to RMB 550,068,447.65 at the beginning of the year, reflecting an increase of approximately 31.4%[172] Cash Flow and Investments - The net cash flow from operating activities increased significantly by 139.22%, reaching approximately ¥74.36 million, compared to a negative cash flow of ¥189.59 million in the previous year[35][48] - The net cash flow from investment activities surged by 539.25%, amounting to approximately ¥107.77 million, compared to ¥16.86 million in the previous year[35][48] - Cash and cash equivalents reached CNY 1,271,531,760.68, accounting for 35.04% of total assets, up from 27.82% in the previous period, indicating a significant increase in sales collection[56] - The company reported a total expected return of RMB 38,612.24 from the loan to Tiantong High-tech Group[65] Research and Development - Research and development expenses totaled approximately ¥153.89 million, accounting for 4.15% of operating revenue, with a year-on-year increase of 11.40%[35][45] - The company’s R&D expenditure for 2014 was CNY 15,389,000, with 31 new patent applications filed, including 17 invention patents[58] Market and Product Development - The financial electronics sector saw growth in both sales revenue and total profit, with a focus on customer experience and product structure adjustment[30] - The company successfully launched new products, including the PT8600/8601 cycle machine and VTM smart financial solutions[30] - The company aims to enhance its position in the financial electronics industry by transitioning from scale expansion and price competition to quality and differentiation-based competition[81] Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 0.60 per 10 shares, totaling CNY 75,360,003.84, with a remaining undistributed profit of CNY 120,653,862.31 to be carried forward[3] - The total number of shareholders at the end of the reporting period was 88,181, an increase from 63,864 five trading days prior to the report[114] Corporate Governance and Compliance - The company has established a comprehensive internal management system, including various rules and regulations to ensure effective governance and compliance[150] - The company has maintained a commitment to social responsibility, including donations and promoting e-commerce in rural areas[92] - The company has not engaged in any major litigation or bankruptcy restructuring during the reporting period[94][95] Strategic Planning and Future Outlook - The company will implement a new three-year strategic plan from 2016 to 2018, focusing on emerging fields such as cloud computing, IoT, and information security[84] - The company anticipates strong demand for TETRA and PDT products due to the acceleration of public security and rail transit construction in China[80] - In 2015, the company expects revenue and profit growth in its main businesses, including financial electronics and wireless cluster industries[84] Employee and Management Information - The total number of employees in the parent company and major subsidiaries was 3,038, with 1,396 in the parent company and 1,642 in subsidiaries[142] - The company has implemented a salary system that links total employee income to company performance, department performance, and individual work performance[143] - The core technology team increased from 323 members in 2013 to 341 members in 2014, with a net increase of 32 members[140] Risk Management - The company faces potential risks in the financial electronics industry due to stable demand for self-service devices and increasing competition from internet finance[88] - The company will strengthen project management and financial oversight to mitigate risks associated with the complex nature of wireless cluster projects[88]
东方通信(600776) - 2014 Q3 - 季度财报
2014-10-28 16:00
Financial Performance - Operating revenue for the first nine months was CNY 2,738,827,740.06, representing a growth of 9.30% year-on-year[7] - Net profit attributable to shareholders for the first nine months was CNY 45,171,489.53, a decline of 11.65% compared to the same period last year[7] - The company reported a net profit of CNY 213,197,120.99 for the period, compared to CNY 77,192,866.22 in the previous period, indicating a substantial increase[26] - Net profit for the quarter was ¥35,682,374.39, compared to ¥17,992,174.49 in the previous year, representing a 98% increase[30] - The total revenue for the first nine months of the year was ¥2,738,827,740.06, compared to ¥2,505,790,669.33 in the same period last year, a growth of 9%[29] - The company’s total operating costs for the first nine months were ¥2,695,060,387.14, an increase from ¥2,464,742,072.53, reflecting an 9% rise year-over-year[29] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,428,951,023.30, a decrease of 0.31% compared to the end of the previous year[7] - Current assets increased to CNY 2,831,259,528.02 from CNY 2,721,766,706.70, reflecting a growth of approximately 4.02%[20] - Total liabilities decreased to CNY 492,690,539.68 from CNY 550,068,447.65, a reduction of about 10.4%[22] - Non-current assets totaled CNY 597,691,495.28, down from CNY 717,998,363.69, reflecting a decline of approximately 16.7%[21] Cash Flow - The net cash flow from operating activities for the first nine months was CNY -403,169,459.09, indicating a worsening cash flow situation[7] - Operating cash inflow for the first nine months was CNY 877,306,875.32, an increase from CNY 779,357,490.20 in the previous year[41] - Total operating cash outflow reached CNY 1,270,963,042.89, compared to CNY 1,030,510,150.46 in the same period last year[41] - Net cash flow from operating activities was CNY -393,656,167.57, worsening from CNY -251,152,660.26 year-on-year[41] - Cash inflow from investment activities totaled CNY 471,081,073.75, slightly up from CNY 436,017,060.76 in the previous year[42] - Cash outflow for investment activities was CNY 162,267,778.18, compared to CNY 438,234,618.86 last year[42] - Net cash flow from investment activities improved to CNY 308,813,295.57 from CNY -2,217,558.10 year-on-year[42] Shareholder Information - The total number of shareholders is 89,399[13] - The largest shareholder, Putian Oriental Communication Group Co., Ltd., holds 602,620,970 shares, representing 47.98% of the total shares[14] Inventory and Receivables - Accounts receivable increased by 139.62%, from 15,673,317.59 to 37,555,908.25, due to sales payments not yet due[15] - Inventory rose by 44.76%, from 518,406,523.25 to 750,463,943.87, attributed to growth in financial and wireless industries[16] - Accounts receivable rose to CNY 726,027,376.10, up from CNY 561,298,381.34, indicating an increase of approximately 29.3%[20] - Inventory increased significantly to CNY 750,463,943.87 from CNY 518,406,523.25, marking a growth of around 44.7%[20] Other Financial Metrics - The weighted average return on net assets decreased by 0.15 percentage points to 3.55%[8] - Basic and diluted earnings per share were both CNY 0.07792394, a decrease of 0.08% compared to the previous year[8] - The company’s total assets impairment loss for the first nine months was ¥5,363,014.19, compared to ¥2,046,381.65 in the previous year[29] - The company reported a total profit of ¥38,631,204.21 for the quarter, compared to ¥19,588,073.38 in the previous year, marking a 97% increase[30] - Investment income for the quarter was ¥11,325,487.40, down from ¥17,003,378.26, indicating a decline of 33% year-over-year[29] Government Support - Government subsidies recognized in the current period amounted to CNY 6,118,955.22, contributing positively to the financial results[10]
东方通信(600776) - 2014 Q2 - 季度财报
2014-08-25 16:00
Financial Performance - The company achieved revenue of CNY 1.759 billion in the first half of 2014, a decrease of 2% compared to the same period last year[16]. - Net profit attributable to shareholders was CNY 61.84 million, down 23.63% year-on-year[16]. - The basic earnings per share decreased by 23.63% to CNY 0.049 from CNY 0.064 in the previous year[16]. - The company reported a 43.13% decrease in net profit after deducting non-recurring gains and losses, amounting to CNY 27.73 million[16]. - The company reported a net profit of 5.99 million yuan for the first half of 2014, reflecting a strong performance in its core business[30]. - The company reported a net profit for the first half of 2014 of CNY 188,043,161.54, compared to CNY 66,096,165.88 in the same period last year, indicating a significant increase of approximately 184.5%[86][89]. - The net profit for the first half of 2014 was CNY 62,184,295.08, a decline of 33.4% from CNY 93,417,250.83 in the previous year[64]. Cash Flow and Assets - The net cash flow from operating activities was negative CNY 433.20 million, a decline of 72.02% compared to the previous year[16]. - The net cash flow from operating activities decreased by 72.02% to -¥433,197,380.60[19]. - The company's cash and cash equivalents decreased to RMB 748,023,470.10 from RMB 956,922,815.54, representing a decline of about 21.8%[56]. - The company's current assets totaled RMB 2,883,808,924.47, up from RMB 2,721,766,706.70 at the start of the year, indicating a growth of approximately 5.96%[56]. - The company's total assets increased by 1.34% to CNY 3.486 billion compared to the end of the previous year[16]. - The company's total assets increased to CNY 3,285,637,721.57 from CNY 3,048,627,048.70, representing an increase of 7.8%[62]. - The company's cash inflow from operating activities totaled 1,448,151,961.79 RMB, down 16.4% from 1,731,601,020.23 RMB in the prior period[70]. Revenue Breakdown - Domestic revenue is ¥1,753,269,880.52, down 0.42%, while international revenue is ¥36,580,928.43, down 9.19%[22]. - The company's operating revenue for the current period is ¥1,759,284,351.47, a decrease of 2.08% compared to the same period last year[19]. - Total revenue for the first half of 2014 was CNY 1,759,284,351.47, a decrease of 2.4% compared to CNY 1,796,671,992.64 in the same period last year[63]. - The company reported a revenue of 43,836.80 million RMB for the first half of 2014, an increase from 42,576.35 million RMB in the same period last year, representing a growth of approximately 2.96%[185]. Expenses and Costs - The operating cost decreased by 2.40% to ¥1,561,834,046.38, while sales expenses increased by 29.26% to ¥45,276,077.06[19]. - Total operating costs for the first half of 2014 were CNY 1,735,523,070.42, down from CNY 1,755,875,531.89, reflecting a reduction of 1.2%[63]. - Research and development expenses increased by 18.16% to ¥71,123,436.53, indicating a focus on innovation[19]. Market and Strategic Developments - The financial electronics sector saw growth in sales and contracts, with a focus on core technology enhancement and market expansion[18]. - The company secured contracts for the Dalian Public Security 350M project and the Changchun Public Security PDT project, enhancing its market presence[18]. - The company has initiated software development cooperation with Huawei, marking a strategic expansion into new business areas[19]. - The company continues to enhance its brand recognition and market share in the mobile communication and financial sectors[24]. - The company has plans to expand its market presence and is focusing on new product development in the blood products sector[30]. - The company is actively pursuing mergers and acquisitions to enhance its market position and operational capabilities[30]. Shareholder and Equity Information - The company has a total of 100 million shares outstanding, with 4.27 million shares being unrestricted for trading[30]. - The total number of shareholders at the end of the reporting period was 64,911[49]. - The largest shareholder, Putian Oriental Communication Group Co., Ltd., held 47.9794% of shares, totaling 602,620,970 shares[49]. - The total amount of rights granted during the reporting period was 0[43]. - The total amount of rights exercised during the reporting period was 0[43]. Subsidiary Performance - The company reported a revenue of RMB 69.29 million and a net profit of RMB 24.59 million from its subsidiary Hangzhou Dongxin Financial Technology Service Co., Ltd., representing a 67% year-on-year increase[39]. - The company experienced a 77% year-on-year decrease in net profit from its subsidiary Hangzhou Oriental Communication City Co., Ltd., amounting to a reduction of RMB 22.86 million[39]. - The company reported a 51% year-on-year decrease in net profit from its subsidiary Hangzhou Dongxin Network Technology Co., Ltd., with a revenue of RMB 13.78 million[40]. Financial Position and Liabilities - Total liabilities stood at RMB 585,265,599.14, compared to RMB 550,068,447.65 at the beginning of the year, showing an increase of about 6.4%[57]. - The total liabilities increased to CNY 880,513,747.02 from CNY 756,186,231.85, marking an increase of 16.4%[62]. - The total equity attributable to the parent company at the end of the period was CNY 2,900,578,109.23, showing an increase from CNY 2,777,296,690.54 in the previous year, representing a growth of approximately 4.4%[81]. Accounting and Financial Reporting - Financial statements are prepared based on the going concern assumption, adhering to the accounting standards set by the Ministry of Finance[95]. - The company uses RMB as its functional currency, which is consistent with its primary economic environment[98]. - The company recognizes revenue from product sales when the main risks and rewards of ownership have transferred to the buyer, and the amount can be reliably measured[157]. - The company assesses the recoverable amount of assets or cash-generating units when there are indicators of impairment, which may lead to significant adjustments in asset values[172]. Taxation and Government Grants - The company has a corporate income tax rate of 25%, with certain subsidiaries eligible for a reduced rate of 15% due to high-tech enterprise recognition[179]. - Government grants received are recognized as deferred income and allocated to profit or loss over the useful life of the related assets[160].
东方通信(600776) - 2014 Q1 - 季度财报
2014-04-29 16:00
Financial Performance - Operating revenue for the first quarter reached CNY 601,657,948.28, representing a 15.33% increase year-on-year[9] - Net profit attributable to shareholders decreased by 48.28% to CNY 23,569,439.55 compared to the same period last year[9] - Basic earnings per share fell by 48.28% to CNY 0.019 per share[9] - The company's net profit attributable to shareholders decreased by 48.28% to ¥23,569,439.55, primarily due to last year's project liquidation gains[18] - Net profit for Q1 2014 was CNY 23,797,584.82, a decrease of 47.3% from CNY 45,018,283.91 in Q1 2013[30] Assets and Liabilities - Total assets increased by 2.19% to CNY 3,515,263,924.22 compared to the end of the previous year[9] - Total assets amounted to ¥3,515,263,924.22, up from ¥3,439,765,070.39 at the beginning of the year[23] - The company's total assets increased to CNY 3,141,479,386.36 in Q1 2014, compared to CNY 3,048,627,048.70 in Q1 2013, reflecting a growth of 3.0%[27] - The company's total liabilities reached CNY 829,320,828.62, an increase of 9.6% from CNY 756,186,231.85 in Q1 2013[27] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -254,525,575.17, compared to CNY -174,985,568.81 in the previous year[9] - The net cash flow from operating activities was -196,045,607.79 RMB, compared to -45,346,548.53 RMB in the previous period, indicating a significant decline in operational cash flow[38] - Total cash inflow from investment activities was 70,945,131.10 RMB, down from 349,319,559.75 RMB in the previous period, reflecting a decrease of approximately 79.7%[39] - Cash and cash equivalents at the end of the period were 477,327,280.97 RMB, down from 1,191,812,757.79 RMB in the previous period, representing a decline of approximately 60%[40] - The total cash outflow from operating activities was 424,646,613.14 RMB, compared to 359,027,359.66 RMB in the previous period, indicating an increase of about 18.3%[38] Shareholder Information - The total number of shareholders as of the report date was 71,930[12] - The largest shareholder, Putian Oriental Communication Group Co., Ltd., holds 48.13% of the shares[13] Operational Costs and Expenses - Total operating costs for Q1 2014 were CNY 598,811,527.99, up 21.9% from CNY 491,068,628.09 in the same period last year[30] - Sales expenses surged by 113.00% to ¥19,700,169.89, driven by market expansion in the communication and financial sectors[6] - The company reported a significant increase in sales expenses, which rose to CNY 19,700,169.89, up 112.5% from CNY 9,248,819.30 in Q1 2013[30] Inventory and Receivables - Inventory rose by 41.91% to ¥735,692,754.86, attributed to increased procurement of raw materials[6] - Accounts receivable rose to CNY 447,467,484.82, up 16.0% from CNY 385,662,822.34 year-over-year[26] - Inventory increased significantly to CNY 734,839,059.88, a rise of 42.0% compared to CNY 517,560,888.10 in the previous year[26] Investment Income - Investment income fell by 39.98% to ¥11,542,191.90, primarily due to decreased earnings from affiliated companies[6] - Operating income from non-operating activities increased by 80.61% to ¥15,533,753.68, mainly due to higher government subsidies[6] Financial Commitments - The company committed to not providing financial assistance for stock incentive plans, ensuring compliance with its commitments[19] Audit Status - The report indicates that the financial statements for the first quarter have not been audited[6]
东方通信(600776) - 2013 Q4 - 年度财报
2014-04-21 16:00
Financial Performance - The net profit of the parent company for 2013 was CNY 58,451,793.70, with a proposed cash dividend of CNY 0.60 per 10 shares, totaling CNY 75,360,003.84[6] - Basic earnings per share for 2013 was CNY 0.154, representing a 0.58% increase compared to CNY 0.153 in 2012[20] - The weighted average return on net assets for 2013 was 7.216%, a decrease of 0.242 percentage points from 7.458% in 2012[20] - The company reported a total distributable profit of CNY 77,192,866.22 at the end of 2013, after accounting for previous year’s dividends[6] - The company achieved a revenue of 3,437,220,265.62 RMB in 2013, representing a year-on-year growth of 4.21%[26] - Net profit attributable to shareholders was 193,717,111.51 RMB, a slight increase of 0.58% compared to the previous year[26] - The financial electronic industry saw a revenue increase of 19% and profit growth of 23%, driven by strong sales of self-developed products[26] - The wireless cluster industry experienced a significant decline in revenue, down 64% year-on-year, totaling 37,060,000 RMB due to market challenges[32] - The company’s net profit tax expenses increased by 265% due to higher profits from subsidiaries[40] - The company reported a total profit of ¥238,954,936.56, which is an increase from ¥200,859,872.00 in the previous period[155] - The company’s total comprehensive income for the current period was ¥208,396,017.32, up from ¥192,482,046.89 in the previous period[156] Cash Flow and Investments - The company's operating cash flow was negative at -189,588,568.97 RMB, a decline of 258.02% compared to the previous year[31] - Cash flow from operating activities showed a net outflow of ¥189,588,568.97, compared to a net outflow of ¥52,954,451.09 in the previous period[161] - Cash outflow from investing activities totaled CNY 733,215,927.44, an increase of 64.2% compared to CNY 446,576,945.72 in the previous year[166] - Net cash flow from investing activities was CNY -3,961,526.90, a significant decline from CNY 229,822,158.26 in the previous year[166] - The company paid dividends and profits amounting to CNY 101,103,899.73, slightly increasing from CNY 100,480,005.12 in the previous year[166] Assets and Liabilities - Total assets at the end of 2013 were 3,439,765,070.39 RMB, a slight increase of 0.66% from the previous year[26] - The company’s net assets attributable to shareholders increased by 3.69% to 2,742,757,446.60 RMB by the end of 2013[26] - The company reported a total current assets of CNY 2,721,766,706.70 as of December 31, 2013, an increase from CNY 2,400,002,691.93 at the beginning of the year, reflecting a growth of approximately 13.4%[149] - The company’s long-term equity investments decreased to CNY 294,243,034.65 from CNY 510,414,506.48, a decline of approximately 42.3%[149] - The company’s total liabilities decreased to CNY 550,068,447.65 from CNY 639,824,357.57, a decrease of about 13.98%[150] Research and Development - Research and development expenses were 138,150,593.95 RMB, a marginal increase of 0.24% year-on-year[31] - The total R&D expenditure was CNY 138,150,593.95, accounting for 4.02% of total revenue and 4.78% of net assets[39] - The company has established a two-level R&D system with multiple national and provincial technology centers and post-doctoral workstations[97] - The company plans to deepen key technology cooperation and accelerate independent research and development of core technologies to enhance its overall solution capabilities in the financial industry[76] Shareholder and Equity Information - The company has a total of 1,256,000,064 shares, with 956,000,064 A shares and 300,000,000 B shares[184] - The largest shareholder, Putian Oriental Communication Group Co., Ltd., holds 48.13% of the shares, totaling 604,573,970 shares[95] - The total number of equity incentives granted during the reporting period was 12,560,000[84] - The total number of equity incentives that became invalid during the reporting period was -240,000[84] - The company has a total of 367,880,508.17 RMB in equity investments, with a decrease of 216,171,471.83 RMB compared to the beginning of the year, reflecting a significant reduction in investment value[51] Management and Governance - The company appointed Ruihua Certified Public Accountants as its auditing firm for the 2013 fiscal year[88] - The company emphasizes the importance of experienced leadership in driving future growth and market expansion[104] - The company has established a comprehensive internal control system in compliance with the Company Law and Securities Law, enhancing governance structure and operational norms[125] - The board of directors held a total of 8 meetings during the year, with 2 conducted in person and 6 via communication methods[134] - The company actively participates in training programs to enhance management capabilities and decision-making skills[121] Market and Strategic Outlook - The company aims for growth in both revenue and profit in its financial electronics and wireless cluster industries in 2014, focusing on market expansion and technological innovation[72] - The company is set to capitalize on the market opportunities presented by the 4G rollout, aiming for steady revenue and profit growth[74] - The financial electronics sector will focus on enhancing service offerings and transitioning to a comprehensive financial service provider, aiming to become a new profit growth point[72] - The company plans to continue its focus on expanding its market presence and developing new technologies in the upcoming year[176] Social Responsibility - The company actively participates in social responsibility initiatives, including poverty alleviation and disaster relief efforts, enhancing its social image[80]