Visionox(002387)

Search documents
维信诺(002387) - 2019 Q3 - 季度财报
2021-05-28 16:00
Financial Performance - Operating revenue for the period was ¥725,298,694.82, representing a year-on-year growth of 59.38%[9] - Net profit attributable to shareholders was -¥278,711,176.22, a decrease of 65.65% compared to the same period last year[9] - Basic earnings per share were -¥0.2038, down 65.69% from the previous year[9] - The net loss for the current period was ¥336,394,224.81, compared to a net loss of ¥277,060,561.08 in the previous period, indicating a worsening of approximately 21.4%[56] - The total comprehensive loss attributable to the parent company was ¥278,711,176.22, worsening from a loss of ¥168,248,337.94 in the previous period, reflecting an increase of approximately 65.5%[60] - The net loss attributable to the parent company was -¥195,402,904.37, compared to -¥152,123,268.70 in the previous period, showing an increase in losses[76] Cash Flow - Net cash flow from operating activities was ¥698,465,861.87, showing a significant increase of 1,057.76% year-on-year[9] - The company's cash flow from operating activities for the first nine months of 2019 was CNY 313,163,806.72, a significant increase of 251.72% from CNY 89,037,188.23 in 2018[24] - The cash flow from operating activities was significantly impacted by a decrease in cash received from other operating activities, which was 791,707,849.81 CNY compared to 6,809,939,485.18 CNY previously[97] - The net cash flow from operating activities was 749,277,469.17 CNY, a decrease of 59.7% compared to the previous period's 1,856,298,612.72 CNY[97] Assets and Liabilities - Total assets at the end of the reporting period reached ¥37,482,521,314.63, an increase of 1.65% compared to the previous year[9] - Total current assets amounted to ¥6,223,870,534.09, a decrease from ¥10,138,290,059.11[38] - Total non-current assets increased to ¥31,258,650,780.54 from ¥26,735,209,129.56, reflecting a growth of approximately 19%[38] - Total liabilities amounted to ¥16,970,855,060.95, down from ¥17,724,260,778.76, showing a decline of approximately 4.25%[41] - Total current liabilities rose to ¥8,897,485,247.31 from ¥7,268,705,860.51, representing an increase of approximately 22.3%[41] - The company's total equity increased to ¥20,511,666,253.68 from ¥19,149,238,409.91, reflecting a growth of about 7.1%[44] Investments and Expenses - Research and development expenses increased by 26.47% to CNY 274,514,194.85 from CNY 217,050,625.17, reflecting the company's focus on innovation in smart terminal applications[24] - The company reported a net cash outflow from investing activities of CNY -4,969,888,505.34, a decrease of 63.74% compared to CNY -13,706,814,495.15 in the previous year[24] - The investment loss for the current period was -¥4,124,902.82, compared to a gain of ¥66,087,673.37 in the previous period, indicating a significant downturn[73] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 32,207[14] - The largest shareholder, Tibet Zhihe Capital Management Co., Ltd., held 32.13% of the shares[14] - There were no significant changes in the ownership structure of the top ten shareholders during the reporting period[18] Financial Position - The company reported an accumulated deficit of ¥423,328,438.17, compared to a deficit of ¥227,925,533.80 in the previous year[44] - The company’s cash and cash equivalents stood at ¥70,476,616.10, a significant decrease from ¥1,860,788,455.79[45] - The company's total liabilities increased to ¥6,003,339,544.40 from ¥5,043,480,493.12, marking an increase of about 19%[54] - The total equity decreased slightly to ¥15,674,280,035.49 from ¥15,757,549,880.68, a decline of approximately 0.5%[54]
维信诺(002387) - 2020 Q4 - 年度财报
2021-04-28 16:00
Financial Performance - The company's operating revenue for 2020 was ¥3,434,331,072.15, representing a 27.69% increase compared to ¥2,689,559,155.68 in 2019[24] - The net profit attributable to shareholders for 2020 was ¥203,571,007.83, a significant increase of 217.93% from ¥64,030,265.59 in 2019[24] - Basic earnings per share for 2020 were ¥0.1488, up 217.95% from ¥0.0468 in 2019[24] - The company reported a net profit of ¥20,357.10 million, a significant increase of 217.93% compared to the previous year[55] - The company reported a revenue increase of 30% year-over-year, reaching 1.5 billion in Q3 2020[161] - The company provided a future outlook, projecting a revenue growth of 20% for the next quarter, aiming for 1.8 billion[163] Cash Flow and Investments - The net cash flow from operating activities decreased by 37.54% to ¥755,389,459.01 in 2020, down from ¥1,209,483,003.21 in 2019[24] - The company reported a significant increase in financing cash inflow by 62.29% to ¥10,946,000,165.10, resulting in a net cash flow from financing activities of ¥1,028,955,763.86[82] - The total investment amount for the reporting period was CNY 3,401,354,145.41, a decrease of 47.94% compared to CNY 6,533,811,953.07 in the same period last year[96] - The company has a remaining balance of CNY 94,877.53 million from the raised funds, which has not yet been utilized[108] - The company temporarily supplemented working capital with CNY 118,290.27 million of raised funds, with a remaining unpaid amount of CNY 94,877.53 million[115] Operational Efficiency and Production - The production capacity of the Kunshan 5.5-generation AMOLED line and the Gu'an 6-generation flexible AMOLED line continued to be released, enhancing operational efficiency[38] - The company maintained a high production capacity utilization rate, with the Kunshan 5.5-generation AMOLED production line performing well and the Gu'an 6th-generation flexible AMOLED line ramping up production[55] - The company achieved a production volume of 14,804,785 units in 2020, which is a 10.64% increase from 13,381,511 units in 2019[62] - The company reported a production capacity increase of 40%, improving operational efficiency[161] Research and Development - The company launched the world's first under-display camera technology and 144Hz refresh rate AMOLED products during the reporting period[38] - The company has filed a total of 7,393 patent applications, including 3,450 invention patents, with 632 new invention patents granted during the reporting period[43] - R&D expenses increased by 13.19% year-on-year to ¥658,586,585.96, reflecting the company's commitment to enhancing R&D investment[77] - The total R&D investment for 2020 was ¥748,350,411.96, a year-on-year increase of 3.51%, representing 21.79% of operating revenue[81] Market Position and Strategy - The company continues to focus on technological innovation and industry standardization, maintaining a leading position in the AMOLED display industry[41] - The company’s brand recognition and market acceptance have improved, becoming a key supplier for major smartphone brands such as Honor, Xiaomi, and Lenovo[43] - The company plans to enhance operational efficiency and reduce costs through the establishment of a low-cost system and optimization of production line investments[140] - The company aims to diversify its product structure to include applications in smartphones, smartwatches, automotive displays, and head-mounted devices to meet varying customer demands[141] Shareholder and Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares for the year[7] - The company has not distributed any cash dividends for the years 2018, 2019, and 2020 due to negative retained earnings as of December 31 for each of those years[168][171][180] - The company has established a shareholder return plan for the next three years (2020-2022) to enhance transparency and protect shareholder interests[167] - The independent directors have fulfilled their responsibilities in the decision-making process regarding profit distribution[167] Risk Management - The company is actively working to mitigate risks related to raw material supply and market competition, particularly in light of geopolitical tensions and the COVID-19 pandemic[142] - The company has committed to not engaging in activities that harm the interests of minority shareholders during the control relationship with its major shareholders[172] - The company will take necessary actions to prevent any potential competition from other companies under its actual control[192]
维信诺(002387) - 2021 Q1 - 季度财报
2021-04-28 16:00
Financial Performance - The company's revenue for Q1 2021 was ¥615,464,304.14, representing a 49.29% increase compared to ¥412,267,907.45 in the same period last year[9]. - The net profit attributable to shareholders was -¥457,387,434.83, a decrease of 77.69% from -¥257,408,393.84 year-over-year[9]. - The basic earnings per share for the period was -¥0.3344, a decline of 77.68% from -¥0.1882 in the same period last year[9]. - The weighted average return on equity was -3.06%, down from -1.73% year-over-year, indicating a worsening financial performance[9]. - The company reported a net loss of CNY 529,710,831.07 for the first quarter of 2021, compared to a profit of CNY 39,675,739.62 in the same period of the previous year[52]. Cash Flow - The net cash flow from operating activities was ¥693,674,790.80, showing a significant increase of 291.94% compared to -¥361,409,528.79 in the previous year[9]. - Cash flow from operating activities for the current period is ¥693,674,790.80, a recovery from -¥361,409,528.79 in the previous period[82]. - Cash flow from operating activities net amount reached ¥723,689,303.28, a significant improvement compared to the previous period's negative cash flow of -¥10,456,530.42[85]. - The company’s cash flow from operating activities showed a strong recovery, indicating improved operational efficiency and revenue generation capabilities[85]. Assets and Liabilities - The total assets at the end of the reporting period were ¥37,780,139,188.21, a decrease of 1.93% from ¥38,524,849,342.06 at the end of the previous year[9]. - The total liabilities decreased to CNY 18,826,903,900.54 as of March 31, 2021, from CNY 19,041,903,223.32 at the end of 2020, a reduction of about 1.1%[50]. - The company's total assets amounted to CNY 37,780,139,188.21 as of March 31, 2021, down from CNY 38,524,849,342.06 at the end of 2020, reflecting a decrease of approximately 1.9%[52]. - Total liabilities as of March 31, 2021, were CNY 8,377,272,761.44, compared to CNY 7,812,339,246.85 at the end of the previous year, showing an increase in liabilities[60]. Investments and R&D - R&D expenses rose to ¥231,630,099.68 in Q1 2021, an increase of 111.19% from ¥109,676,715.81 in Q1 2020, reflecting increased investment in R&D projects[25]. - The company plans to continue investing in R&D to enhance product offerings and market competitiveness[63]. - The company recognized an investment loss of ¥73,277,106.13 in Q1 2021, a significant increase from the previous year, indicating challenges in joint venture performance[25]. Shareholder Information - The top shareholder, Tibet Zhihe Capital Management Co., Ltd., held 18.43% of the shares, amounting to 252,051,197 shares[13]. - The total comprehensive income attributable to the parent company is -¥457,387,434.83, compared to -¥257,408,393.84 in the previous period[70]. Inventory and Receivables - The company’s inventory increased by 27.40% to ¥663,161,722.95, attributed to pre-stocking of raw materials for future sales[22]. - The company reported a significant increase in accounts receivable, which rose to CNY 616,833,854.10 from CNY 162,374,393.58, indicating higher sales on credit[56]. - Accounts receivable increased significantly to CNY 878,052,340.72 as of March 31, 2021, compared to CNY 497,080,330.09 at the end of 2020, representing a growth of about 77%[44]. Financing Activities - The company’s cash flow from financing activities turned negative at -¥1,231,133,916.56 in Q1 2021, a decrease of 807.35% compared to positive cash flow in the previous year, primarily due to increased debt repayments[25]. - Total cash inflow from financing activities amounted to ¥1,898,021,089.12, up from ¥1,637,076,138.00 in the previous period[84]. - Cash outflow from financing activities increased to ¥3,129,155,005.68, compared to ¥1,463,026,766.19 in the previous period, resulting in a net cash flow from financing activities of -¥1,231,133,916.56[84]. Other Financial Metrics - The company recognized government subsidies amounting to ¥11,550,574.26 during the reporting period[9]. - The company reported a significant increase in non-current asset disposal gains of ¥6,541,239.93 during the reporting period[9]. - The company has no significant contracts or entrusted financial management activities during the reporting period[37][40].
维信诺(002387) - 2020 Q3 - 季度财报
2020-10-26 16:00
Financial Performance - Operating revenue for the quarter was CNY 843,613,624.66, representing a year-on-year increase of 9.82%[9] - Net profit attributable to shareholders was a loss of CNY 119,254,761.43, a decrease of 49.43% compared to the same period last year[9] - The basic earnings per share was -CNY 0.0872, a decline of 49.42% year-on-year[9] - The net loss for the quarter was ¥130,672,821.87, compared to a net loss of ¥293,516,866.43 in the same period last year[65] - The net profit for the current period was ¥16,857,439.68, a significant recovery from a net loss of ¥102,485,426.20 in the previous period[80] - The net profit attributable to the parent company was -¥83,880,761.57, compared to -¥77,374,863.49 in the same period last year, indicating a worsening performance[91] - The total comprehensive income for the period was -¥83,880,761.57, compared to -¥77,374,863.49 in the previous year[91] Assets and Liabilities - Total assets increased by 4.33% to CNY 38,758,053,342.21 compared to the end of the previous year[9] - The total liabilities of the company increased to CNY 19.53 billion from CNY 17.94 billion, marking an increase of about 8.8%[47] - The company's total equity stands at CNY 19,212,193,410.30, with total assets amounting to CNY 37,151,081,512.31[114] - The total current assets are CNY 1,206,164,388.72, indicating the company's short-term financial health[117] - The company has a total of CNY 5,714,219,823.79 in other payables, which may impact cash flow management[120] Cash Flow - The net cash flow from operating activities decreased by 43.01% to CNY 398,024,540.04[9] - Cash flow from financing activities increased by 112.12% to CNY 1,549,313,532.97, primarily due to increased cash from borrowings[24] - The net cash flow from operating activities was 115,199,396.73 CNY, a significant drop from 749,277,469.17 CNY in the previous year, reflecting challenges in revenue generation[100] - The total cash outflow from operating activities was ¥2,190,042,613.77, slightly lower than ¥2,258,314,611.10 in the previous period[94] - The cash inflow from financing activities reached 7,322,550,099.89 CNY, an increase from 4,598,448,925.37 CNY, highlighting enhanced capital raising efforts[97] Shareholder Information - The total number of shareholders at the end of the reporting period was 41,522[13] - The largest shareholder, Tibet Zhihe Capital Management Co., Ltd., held 32.13% of the shares[13] - The company did not conduct any repurchase transactions during the reporting period[18] Government Support and Subsidies - The company received government subsidies amounting to CNY 1,032,673,181.44 during the reporting period[9] - Other income increased by 41.54% to CNY 1,029,490,494.52, due to increased government subsidies recognized by subsidiaries[24] Investment and R&D - Investment income surged by 295.48% to CNY 8,063,366.89, reflecting higher returns from equity investments[24] - The company’s R&D expenses for the quarter were ¥96,252,978.89, up from ¥50,481,324.49[62] - Research and development expenses for the current period amounted to ¥299,472,041.55, compared to ¥274,514,194.85 in the previous period, reflecting an increase of approximately 9.05%[77] Future Plans - The company plans to use up to CNY 10 billion of idle funds for temporary working capital, with a usage period not exceeding 12 months[31] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[75] - Visionox is focusing on the development of flexible OLED products and enhancing its production capacity to meet future market demands[39] Changes in Financial Standards - The company has implemented new revenue recognition standards since January 1, 2020, affecting the classification of certain account balances[124]
维信诺(002387) - 2020 Q2 - 季度财报
2020-08-25 16:00
Financial Performance - The company's operating revenue for the first half of 2020 was ¥1,165,046,678.23, representing a 4.44% increase compared to ¥1,115,567,586.15 in the same period last year[24]. - The net profit attributable to shareholders of the listed company decreased by 47.30% to ¥92,491,254.89 from ¥175,517,643.50 year-on-year[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥528,940,847.12, a decline of 64.21% compared to -¥322,107,070.48 in the previous year[24]. - The net cash flow from operating activities improved by 16.40%, amounting to -¥322,116,432.32, compared to -¥385,302,055.15 in the same period last year[24]. - The total assets at the end of the reporting period were ¥38,052,521,770.69, an increase of 2.43% from ¥37,151,081,512.31 at the end of the previous year[24]. - The net assets attributable to shareholders of the listed company increased by 0.62% to ¥15,064,993,736.48 from ¥14,972,502,481.59 at the end of the previous year[24]. - The basic earnings per share decreased by 47.31% to ¥0.0676 from ¥0.1283 in the same period last year[24]. - The diluted earnings per share also decreased by 47.31% to ¥0.0676 from ¥0.1283 year-on-year[24]. - The weighted average return on net assets was 0.62%, down from 1.17% in the previous year, a decrease of 0.55%[24]. Revenue and Costs - The company achieved a revenue of 1,165,046,678.23 CNY, representing a year-on-year increase of 4.44%[44]. - The company reported a significant increase in operating costs, with a year-on-year rise of 21.93%, totaling 892,029,677.62 CNY[45]. - OLED display revenue accounted for ¥1,131,587,595.74, which is 97.13% of total operating revenue, showing a 6.75% increase from ¥1,060,005,579.23[48]. - The revenue from OLED products reached ¥723,001,249.86, a significant increase of 36.56% compared to ¥529,454,659.24 in the previous year[48]. Research and Development - Research and development investment decreased by 37.38% to 274,291,138.29 CNY, reflecting a strategic adjustment in R&D activities[45]. - The company reported a decrease in R&D investment during the reporting period, attributed to ongoing technological breakthroughs and development[48]. - The company launched the world's first mass production-level under-display camera solution and the first 144Hz refresh rate AMOLED screen, enhancing its competitive edge in the market[44]. Production Capacity and Expansion - The company is actively expanding its production capacity with ongoing construction of the Hefei 6th generation flexible AMOLED production line and the Guangzhou Zengcheng module line[44]. - The company has a production capacity of 180,000 AMOLED panels per year for its 6th generation active matrix organic light-emitting diode (AMOLED) production line, which has been accepted by the authorities[171]. - The 5.5 generation AMOLED production line has an annual output of 14.86 million panels, with a monthly capacity increase of 11,000 glass substrates, including 5,500 flexible substrates[171]. Government Support and Subsidies - The company recognized a government subsidy of ¥965,299,754.93, contributing significantly to the profit structure[54]. - The company’s subsidiary, YunGu (Gu'an) Technology Co., Ltd., received a special support fund of RMB 700 million to cover operational costs and losses incurred[94]. Market and Competition - The company is facing risks from macroeconomic fluctuations, with the Chinese economy recovering from COVID-19 but global uncertainties persisting, impacting consumer electronics demand[96]. - The company is experiencing increased market competition as the smartphone market shifts from growth to saturation, leading to longer replacement cycles and intensified competition among panel manufacturers[96]. - The company aims to enhance its core competitiveness through innovative technologies and products, focusing on onboarding first-tier brand clients and fostering customer loyalty[96]. Shareholder Information - The total number of shares is 1,367,663,046, with 78.08% being unrestricted shares[182]. - The largest shareholder, Tibet Zhihe Capital Management Co., holds 32.13% of the shares, totaling 439,401,197 shares[186]. - The second largest shareholder, Kunshan Economic and Technological Development Zone Collective Asset Management Co., holds 9.63% of the shares, totaling 131,730,538 shares[186]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[194]. Environmental Compliance - Gu'an Cloud Valley reported total emissions of COD at 10.56 tons and ammonia nitrogen at 0.51 tons, with a total discharge limit of 80.567 tons/year for COD and 8.057 tons/year for ammonia nitrogen[156]. - Gu'an Cloud Valley has established a wastewater treatment station that includes systems for treating acidic, phosphorus-containing, fluorine-containing, and organic wastewater, ensuring compliance before discharge into the municipal network[167]. - Gu'an Cloud Valley's noise emissions are within the limits of ≤ 65 dB (A) during the day and ≤ 55 dB (A) at night, complying with the "Industrial Enterprise Boundary Environmental Noise Emission Standard" (GB12348-2008)[159]. - Gu'an Cloud Valley has no instances of exceeding pollutant discharge standards in its operations[156]. Related Party Transactions - The total amount of related party transactions for the reporting period is estimated at 7,413.56 million yuan, with a total expected amount of 30,708.4 million yuan[118]. - The company sold products to related parties for 3,891.28 million yuan, representing a 5.15% increase compared to the previous period[118]. - The company provided services to related parties amounting to 2,211.33 million yuan, achieving a 100% realization rate[118]. Guarantees and Loans - The total approved guarantee amount for subsidiaries during the reporting period was 800,000, with actual guarantees amounting to 539,889.6[149]. - The total approved guarantee amount at the end of the reporting period reached 3,098,918, while the actual guarantee balance was 1,427,500.88, representing 94.76% of the company's net assets[149]. - The company provided guarantee support for its wholly-owned subsidiary Bazhou Yungu to apply for a long-term loan from Langfang Bank, along with equity pledge guarantees[150].
维信诺(002387) - 2019 Q4 - 年度财报
2020-04-29 16:00
Financial Performance - The company's operating revenue for 2019 was ¥2,689,559,155.68, representing a 51.26% increase compared to ¥1,778,152,197.19 in 2018[24] - The net profit attributable to shareholders for 2019 was ¥64,030,265.59, an increase of 84.85% from ¥34,639,457.50 in 2018[24] - The net cash flow from operating activities was ¥1,209,483,003.21, up 38.04% from ¥876,171,160.96 in the previous year[24] - The basic earnings per share for 2019 was ¥0.0468, a 64.79% increase from ¥0.0284 in 2018[24] - The diluted earnings per share also stood at ¥0.0468, reflecting the same growth rate of 64.79% compared to the previous year[24] - The weighted average return on net assets was 0.43%, an increase of 0.17% from 0.26% in 2018[24] - The company reported a net profit of -¥940,062,529.61 for the net profit attributable to shareholders after deducting non-recurring gains and losses, which is an improvement of 22.56% from -¥1,213,909,985.43 in 2018[24] - In Q4 2019, the company achieved a net profit attributable to shareholders of CNY 124,346,439.93, following a net loss of CNY 387,668,118.44 in Q1[30] - The company reported a total revenue of CNY 2,689,559,156.68 for the year 2019, with significant contributions from the smartphone and wearable device markets[40] - The company’s OLED display segment generated CNY 2.63 billion in revenue, accounting for 97.78% of total revenue, with a year-on-year growth of 64.12%[51] Assets and Investments - Total assets at the end of 2019 were CNY 37,151,081,512.31, an increase of 0.75% from 2018[27] - Net assets attributable to shareholders at the end of 2019 were CNY 14,972,502,481.59, reflecting a 0.43% increase from 2018[27] - The company’s long-term equity investments increased to ¥1,539,851,777.47, representing 4.14% of total assets[84] - The fixed assets rose to ¥8,207,149,944.14, accounting for 22.09% of total assets, due to the transfer of construction in progress[84] - The cumulative actual investment in the sixth-generation active matrix organic light-emitting diode (AMOLED) production line project reached ¥19,831,640,739.86, with an investment progress of 93.03%[92] - The company reported a total of ¥1,491,514.57 million raised from a non-public offering of shares, with ¥1,363,125.94 million already utilized[97] - The total investment amount for the reporting period was ¥6,533,811,953.07, a decrease of 67.42% compared to ¥20,054,517,211.76 in the same period last year[89] Research and Development - The company increased its R&D investment to ¥723 million in 2019, representing a year-on-year growth of 27.12%[72] - R&D personnel decreased by 15.71% to 1,368, while R&D investment increased by 27.12% to ¥722,953,498[75] - The proportion of R&D investment to operating revenue decreased by 5.10% to 26.88%, with capitalized R&D investment rising by 196.92% to ¥141,112,904.43[75] - The company achieved a significant breakthrough in various technology fields, including dynamic bending and on-cell touch integration, enhancing its product competitiveness[72] Market Position and Strategy - The company ranked third globally in AMOLED smartphone panel shipments with a market share of 3.5%, and led the domestic market with a 40.7% share[49] - The global OLED market is projected to grow by 19% to reach USD 30.4 billion in 2019, with expectations to reach USD 46.2 billion by 2023[49] - The flexible AMOLED product segment is expected to see rapid growth, with shipments projected to reach 290 million units in 2020, accounting for 55.3% of total AMOLED shipments[49] - The company aims to focus on the consumer electronics market and product R&D, optimizing resource allocation and improving financial conditions to reduce operational risks[114] - The company plans to increase R&D investment to ensure product and technology leadership, enhancing product competitiveness and value[123] - The company will focus on product differentiation and technological innovation to strengthen its competitive advantage in a challenging market[123] Risks and Challenges - The company has identified risks related to macroeconomic fluctuations that could impact consumer demand for electronic products[127] - The company faces market competition risks due to the accelerated production of flexible OLED panels by domestic manufacturers[127] - The company is addressing raw material price volatility risks by strengthening procurement risk management and promoting domestic alternatives[127] Dividends and Shareholder Returns - The company plans not to distribute cash dividends or issue bonus shares for the year[7] - The cash dividend amount for 2019 was 0.00, with a net profit attributable to ordinary shareholders of 64,030,265.59, resulting in a cash dividend ratio of 0.00%[133] - The company has not distributed profits for the years 2017, 2018, and 2019 due to negative retained earnings[132] Related Party Transactions and Governance - The company engaged in related party transactions amounting to 1,611.3 million RMB for water supply services, representing 90.77% of similar transaction amounts[169] - The company reported related party transactions for property services amounting to 78.06 million RMB, accounting for 10.66% of the approved transaction amount[172] - The company has established internal control systems to reduce unnecessary related party transactions following the completion of recent transactions[141] - The company has committed to ensuring that any business opportunities that may constitute competition will be transferred to the company[138] Financial Management and Compliance - The company has implemented new financial instrument standards effective January 1, 2019, aligning with the revised accounting policies[155] - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[152] - The company confirmed that all subscription funds for the transaction are sourced from its own or legally raised funds, with no structured arrangements or leverage involved[147]
维信诺(002387) - 2020 Q1 - 季度财报
2020-04-29 16:00
Financial Performance - The company's revenue for Q1 2020 was ¥412,267,907.45, representing a 99.49% increase compared to ¥206,664,891.07 in the same period last year[9] - The net profit attributable to shareholders was -¥257,408,393.84, an improvement of 33.60% from -¥387,668,118.44 year-over-year[9] - The basic and diluted earnings per share were both -¥0.1882, reflecting a 33.62% improvement from -¥0.2835 in the same quarter last year[9] - The net loss for the current period was ¥306,513,979.32, compared to a net loss of ¥444,986,793.02 in the previous period, showing an improvement of approximately 31.2%[60] - The total comprehensive loss for the current period was ¥306,513,979.32, compared to a loss of ¥444,986,793.02 in the previous period, reflecting a reduction of about 31.2%[64] Cash Flow - The net cash flow from operating activities was -¥361,409,528.79, showing a 27.56% improvement compared to -¥498,883,324.36 in the previous year[9] - Cash inflows from operating activities totaled 502,900,062.40 CNY, down from 601,632,103.00 CNY in the prior year, showing a decline of approximately 16.4%[76] - Cash outflows from operating activities were 864,309,591.19 CNY, compared to 1,100,515,427.36 CNY in the previous year, representing a decrease of about 21.5%[76] - Cash inflows from financing activities amounted to 1,637,076,138.00 CNY, an increase from 1,326,017,918.11 CNY in the previous year, indicating a growth of approximately 23.4%[78] - The net cash flow from financing activities was 174,049,371.81 CNY, a turnaround from -100,551,181.62 CNY in the same period last year[78] Assets and Liabilities - Total assets at the end of the reporting period were ¥36,796,961,675.16, a decrease of 0.95% from ¥37,151,081,512.31 at the end of the previous year[9] - The total current assets decreased to ¥6,237,023,572.04 from ¥6,999,936,865.44, indicating a reduction in liquidity[38] - Current liabilities totaled ¥10,593,922,421.07, up from ¥9,946,363,237.83, marking an increase of approximately 6.5%[44] - Total liabilities amounted to ¥17,891,282,244.18, slightly down from ¥17,938,888,102.01, a decrease of approximately 0.3%[44] - The total equity attributable to shareholders decreased to ¥14,715,094,087.75 from ¥14,972,502,481.59, reflecting a decline of about 1.7%[47] Investments and Expenses - The company reported an investment loss of ¥2,059,049.35, a significant increase of 301.78%, primarily from losses recognized from joint ventures[25] - Research and development expenses for the current period were ¥109,676,715.81, down from ¥154,072,728.04, representing a decrease of about 28.7%[57] - Financial expenses surged by 129.80% to ¥189,146,526.23, largely due to exchange rate fluctuations resulting in foreign exchange losses[22] Shareholder Information - The top shareholder, Tibet Zhihe Capital Management Co., Ltd., holds 32.13% of the shares, totaling 439,401,197 shares[14] - The company did not engage in any repurchase transactions among the top ten shareholders during the reporting period[18] Government Support - The company received government subsidies amounting to ¥6,123,009.02 during the reporting period[9] Changes in Accounting Standards - The company executed new revenue and leasing standards starting January 1, 2020, impacting financial reporting[86] - The company has adopted new revenue recognition standards since January 1, 2020, impacting the classification of certain account balances[96]
维信诺(002387) - 2019 Q3 - 季度财报
2019-10-28 16:00
Financial Performance - Operating revenue for the quarter was CNY 768.18 million, representing a year-on-year growth of 68.80%[9] - The company reported a net profit loss of CNY 60.32 million for the year-to-date, a decrease of 60.35% compared to the same period last year[9] - The company reported a net loss of ¥288,241,708.14, widening from a loss of ¥227,925,533.80 in the previous period[44] - Total operating revenue for the current period reached ¥768,176,053.20, a significant increase of 68.7% compared to ¥455,070,978.72 in the previous period[55] - The net loss for the current period was ¥293,516,866.43, compared to a net loss of ¥277,060,561.08 in the previous period, indicating a decline in profitability[58] - The net profit for the current period was a loss of ¥77,374,863.49, compared to a profit of ¥27,493.50 in the previous period, reflecting a negative shift in profitability[84] Assets and Liabilities - Total assets reached CNY 37.62 billion, an increase of 2.02% compared to the end of the previous year[9] - The number of total assets increased to CNY 37.62 billion, while net assets attributable to shareholders decreased to CNY 14.85 billion, down 0.40%[9] - Total current assets amounted to ¥6,223,870,534.09, a decrease from ¥10,138,290,059.11[38] - Total current liabilities increased to ¥8,897,485,247.31 from ¥7,268,705,860.51, representing a rise of approximately 22.3%[41] - Total liabilities amounted to ¥16,970,855,060.95, down from ¥17,724,260,778.76, indicating a decrease of approximately 4.2%[41] - Total liabilities reached approximately ¥17.72 billion, with current liabilities at ¥7.27 billion and non-current liabilities at ¥10.46 billion[111] Cash Flow - Net cash flow from operating activities was CNY 698.47 million, a significant increase of 1,057.76% year-on-year[9] - The company reported cash inflows from investment activities totaling ¥378,416,233.57, compared to ¥15,901,198,992.43 in the previous period, indicating a decrease in investment activity[90] - The net cash flow from operating activities was 749,277,469.17 CNY, a decrease from 1,856,298,612.72 CNY in the previous period[97] - The cash flow from financing activities included 2,887,573,362.82 CNY from loans received[93] Shareholder Information - The company has 32,207 total common shareholders, with the largest shareholder holding 32.13% of the shares[13] - The total equity attributable to shareholders was ¥14,848,156,041.66, slightly down from ¥14,908,472,216.00[44] - The company's equity totaled approximately ¥19.15 billion, with a capital reserve of ¥13.75 billion and retained earnings showing a deficit of ¥227.93 million[111] Research and Development - Research and development expenses increased by 26.47% to ¥274,514,194.85, reflecting the company's focus on innovative applications in the smart terminal field and enhanced research on display technology[24] - Research and development expenses decreased to ¥50,481,324.49 from ¥123,968,267.00, reflecting a reduction of 59.3%[55] - Research and development expenses amounted to ¥274,514,194.85, up from ¥217,050,625.17 in the previous period, showing an increase of about 26.5%[73] Government Support - The company received government subsidies totaling CNY 729.95 million during the reporting period[9] Investment Activities - The company reported a significant increase in short-term borrowings by 55.23% to ¥1,300,740,725.50, which constitutes 3.46% of total assets, primarily due to new short-term loans[20] - The company incurred a net cash outflow from investment activities of -4,969,888,505.34 CNY for the year[93] Market Strategy - The company is focusing on market expansion and new product development, although specific details were not provided in the report[57] - The company is focusing on new product development and market expansion strategies to enhance growth prospects[116]
维信诺(002387) - 2019 Q2 - 季度财报
2019-08-28 16:00
Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,115,567,586.15, representing a 134.67% increase compared to CNY 475,382,455.39 in the same period last year[23]. - The net profit attributable to shareholders of the listed company reached CNY 175,517,643.50, a significant increase of 988.48% from CNY 16,125,069.24 in the previous year[23]. - The basic earnings per share for the period was CNY 0.1283, up 749.67% from CNY 0.0151 in the same period last year[23]. - The net cash flow from operating activities was CNY -385,302,055.15, a decrease of 337.89% compared to CNY 161,963,996.93 in the previous year[23]. - Total assets at the end of the reporting period were CNY 36,992,083,517.82, a slight increase of 0.32% from CNY 36,873,499,188.67 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company were CNY 15,083,989,859.50, reflecting a 1.18% increase from CNY 14,908,472,216.00 at the end of the previous year[23]. - The company reported a net profit excluding non-recurring gains and losses of CNY -322,107,070.48, an improvement of 18.54% from CNY -395,439,676.14 in the previous year[23]. - The weighted average return on net assets was 1.17%, up from 0.15% in the previous year[23]. Revenue and Cost Analysis - Operating costs increased by 77.21% to ¥731,614,249.35 from ¥412,842,616.75, mainly due to increased materials and depreciation, as well as the consolidation of Guoxian Optoelectronics starting from the second quarter of the previous year[49]. - Domestic revenue accounted for 66.62% of total operating revenue, amounting to ¥743,141,330.89, which represents a 459.16% increase from ¥132,903,816.75 in the same period last year[53]. - The gross margin for the OLED display sector decreased to 33.39%, down 21.22% from the previous year, primarily due to the upgrade of the 5.5-generation production line at Guoxian Optoelectronics[58]. Investment and R&D - R&D investment surged by 281.28% to ¥438,022,461.27 from ¥114,882,240.44, reflecting the company's focus on innovative applications in the smart terminal field[49]. - The company has filed for 3,071 invention patents, 85 utility model patents, and 70 design patents, indicating strong innovation capabilities[41]. - The company invested ¥1,600,000,000.00 in the Langfang New Display Industry Development Fund, acquiring a 72.69% stake[73]. - The investment in the 6th generation AMOLED panel production line project amounted to ¥1,566,407,851.18, with a cumulative actual investment of ¥18,649,920,033.19, achieving a funding investment progress of 92.89%[76]. Market and Competitive Landscape - The global AMOLED panel sales are projected to grow from approximately 27 billion USD in 2018 to 39 billion USD by 2020, indicating a strong market trend[47]. - The smartphone market has shifted from growth to saturation, leading to increased competition risks[105]. - The company aims to enhance product value through innovative technologies and differentiation strategies[105]. Risk Management - The company emphasizes the importance of risk management and has detailed its risk response measures in the report[6]. - The company is facing risks related to macroeconomic fluctuations and supply chain issues, particularly concerning key raw materials and components sourced from a limited number of suppliers[102]. - The company plans to enhance the localization of materials and equipment to mitigate supply risks and ensure stable pricing[102]. Environmental Compliance - The company is subject to environmental protection regulations, with specific pollutants monitored at its subsidiary Yungu (Gu'an) Technology Co., Ltd.[155]. - The company has established a wastewater treatment station that includes systems for treating acidic, phosphorus-containing, fluorine-containing, and organic wastewater, ensuring compliance before discharge into the industrial park's sewage network[161]. - The company’s wastewater and air pollutant emissions have met national standards, with automatic monitoring systems installed and connected to local environmental protection departments[164]. Shareholder and Governance - Major shareholders include Tibet Zhihe Capital Management Co., holding 32.13% of shares, and Kunshan Economic and Technological Development Zone Collective Asset Management Co., holding 9.63%[180]. - The company has not reported any significant changes in shareholding structure or major shareholder activities during the reporting period[168]. - The company appointed two new directors on March 22, 2019, indicating ongoing governance updates[199].
维信诺(002387) - 2019 Q1 - 季度财报
2019-04-28 16:00
Financial Performance - The company's revenue for Q1 2019 was ¥206,664,891.07, representing an increase of 1,800.53% compared to the same period last year, which was ¥10,874,081.88[9] - The net profit attributable to shareholders was -¥387,668,118.44, a decline of 101.68% from -¥192,216,094.42 in the previous year[9] - The basic earnings per share were -¥0.2835, a decrease of 13.40% from -¥0.2500 in the previous year[9] - The net loss attributable to shareholders increased to ¥-615,593,652.24 from ¥-227,925,533.80, indicating a worsening of 170.5%[45] - The net loss for the current period was ¥444,986,793.02, worsening from a net loss of ¥192,216,094.42 in the previous period[59] - The total comprehensive income attributable to the parent company was -387,668,118.44 CNY, compared to -192,216,094.42 CNY in the previous period, indicating a significant decline[63] Cash Flow - The net cash flow from operating activities was -¥498,883,324.36, which is a decrease of 337.33% compared to -¥114,075,245.06 in the same period last year[9] - The net cash flow from operating activities was -498,883,324.36 CNY, worsening from -114,075,245.06 CNY in the previous period[74] - The total cash inflow from operating activities was 601,632,103.00 CNY, significantly higher than 28,044,955.02 CNY in the previous period[74] - The total cash outflow from operating activities was 1,100,515,427.36 CNY, compared to 142,120,200.08 CNY in the previous period, indicating a substantial increase in cash outflows[74] - The company’s cash flow from financing activities was -¥100,551,181.62 in Q1 2019, a drastic change from ¥19,318,100,079.42 in Q1 2018, due to debt repayments by subsidiaries[25] - The total cash inflow from financing activities was 14,919,999,919.60, with cash outflow of 38,460,047.00, leading to a net cash flow of -38,460,047.00[83] Assets and Liabilities - The total assets at the end of the reporting period were ¥35,956,925,604.49, down 2.49% from ¥36,873,499,188.67 at the end of the previous year[9] - Total liabilities decreased to ¥17,252,673,987.60 from ¥17,724,260,778.76, a reduction of 2.7%[42] - The company's total assets were reported at ¥35,956,925,604.49, down from ¥36,873,499,188.67, reflecting a decrease of 2.5%[45] - Total liabilities rose to ¥5,453,228,177.91, compared to ¥5,043,480,493.12 in the previous period, marking an increase of approximately 8.14%[55] - Current liabilities totaled CNY 7,268,705,860.51, with short-term borrowings at CNY 837,942,080.00[87] Investments and Expenses - Research and development expenses surged to ¥154,072,728.04 in Q1 2019, reflecting a 581.34% increase from ¥22,613,061.55 in Q1 2018, driven by increased R&D investments[25] - The company reported a significant increase in sales expenses, which reached ¥10,730,382.09, compared to ¥2,734,850.18 in the previous period, an increase of approximately 292%[56] - The company reported a financial expense of 4,498,972.22 CNY, up from 2,482,346.07 CNY in the previous period, primarily due to increased interest expenses[64] Shareholder Information - The top shareholder, Tibet Zhihe Capital Management Co., Ltd., held 32.13% of the shares, totaling 439,401,197 shares[14] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[18] Inventory and Receivables - Total inventory increased by 62.92% to ¥747,829,973.21 in Q1 2019 from ¥459,027,587.41 in Q4 2018, indicating proactive stockpiling for future sales[22] - The company experienced a 91.39% increase in prepaid expenses, reaching ¥92,675,811.19 in Q1 2019, compared to ¥48,423,035.63 in Q4 2018, due to higher material prepayments[22] - The company’s other receivables decreased by 92.16% to ¥48,165,005.39 in Q1 2019 from ¥614,402,644.46 in Q4 2018, following the collection of government subsidies[22] Government Support - The company received government subsidies amounting to ¥8,843,194.89 during the reporting period[9] - The company received tax refunds amounting to 82,433,261.47 CNY during the current period[74] Accounting Standards - The company has implemented new financial accounting standards starting January 1, 2019[95] - The company has not audited its first-quarter report[96]