BIRD(SH:600130)2016-08-29 16:00Financial Performance - The company achieved operating revenue of CNY 1,812,223,468.11, representing a year-on-year increase of 138.68%[22] - The net profit attributable to shareholders was CNY 15,243,767.96, a decrease of 26.12% compared to the previous year[22] - The basic earnings per share decreased by 33.33% to CNY 0.02 from CNY 0.03 in the same period last year[20] - The weighted average return on net assets decreased by 0.70 percentage points to 1.57%[20] - The net cash flow from operating activities was negative at CNY -232,982,481.42, a decline of 446.17% compared to the previous year[22] - The company reported a decrease in operating profit by 30.80% to CNY 9,031,600.00[25] - The total operating revenue reached 1,620,730,817.78 RMB, representing a year-on-year increase of 124.42%[35] - The revenue from the Asian market was 1,304,942,527.92 RMB, showing a significant increase of 244.36% compared to the previous year[35] Cash Flow and Liquidity - The net cash flow from operating activities was -232,982,481.42 RMB, a decrease of 446.17% compared to the previous period[28] - The company reported a cash balance of CNY 119,656,389.50 at the end of the period, a decrease from CNY 403,138,164.91 at the beginning of the period, indicating a significant reduction in liquidity[161] - Cash inflow from operating activities totaled ¥2,025,522,877.57, compared to ¥970,663,352.96 in the previous period, marking an increase of approximately 108.5%[86] - Cash outflow from operating activities was ¥2,258,505,358.99, up from ¥903,361,083.57 in the previous period, indicating a rise of about 149.8%[86] - The ending balance of cash and cash equivalents decreased to 54,670,580.10 RMB from 255,200,391.95 RMB at the beginning of the period, reflecting a decline of approximately 78.5%[89] Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,371,658,895.43, a slight decrease of 0.36% from the previous year[22] - Current assets totaled CNY 1,044,121,761.03, down from CNY 1,110,919,154.29 at the start of the period, indicating a decrease of approximately 6.0%[72] - Total liabilities increased to ¥77,920,465.65 from ¥46,493,604.65, marking an increase of approximately 67.5%[76] - The total equity attributable to shareholders of the parent company was ¥817,183,882.81, a slight decrease from ¥825,068,236.24 at the beginning of the year, indicating a decline of about 1.1%[76] Subsidiaries and Investments - The company has a total of 7 wholly-owned subsidiaries as of the end of the reporting period, including the newly established Ningbo Bodao Information Industry Investment Co., Ltd. with a registered capital of RMB 80 million[45] - The subsidiary "Ningbo Bodao Software Co., Ltd." reported a net profit of RMB 2.87 million, with total assets of RMB 10.5 million and operating income of RMB 2.44 million[47] - The subsidiary "Fenghua Bodao Software Co., Ltd." reported a net profit of RMB 6.96 million, with total assets of RMB 10.27 million and operating income of RMB 3.01 million[48] - The company has invested in various bank wealth management products, with a total of RMB 1.1 billion in investments, of which RMB 110 million and RMB 20 million are still outstanding from Ningbo Bank and China Construction Bank respectively[43] Research and Development - Research and development expenses increased to 44,266,617.35 RMB, up 51.22% year-on-year[28] - The company recognizes the need for innovation and breakthroughs to maintain sustainable growth in a competitive market[25] Dividend Policy - The company did not declare any cash dividends for the reporting period due to accumulated losses[5] - The company has a commitment to distribute dividends in cash or stock when profitable, with specific conditions outlined for both methods[51] - The company has not declared any cash dividends due to accumulated losses, and the profit distribution policy states that at least 30% of distributable profits will be distributed in cash when conditions allow[50] Financial Reporting and Compliance - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations[101] - The accounting policies are tailored to the company's operational characteristics, including provisions for bad debts and depreciation methods[102] - The financial reports comply with the requirements of enterprise accounting standards, reflecting the company's financial status accurately[103] Impairment and Provisions - The company uses the aging analysis method to provision for bad debts, with a 5% provision for accounts receivable within 1 year, 15% for 1-2 years, 30% for 2-3 years, 50% for 3-4 years, and 100% for over 5 years[121] - The total accounts receivable at the end of the period amounted to ¥146,425,211.13, with a bad debt provision of ¥7,551,555.65, representing a provision ratio of 5.16%[166] - The total balance of available-for-sale financial assets is ¥62,292,535.00, with a provision for impairment of ¥1,572,535.00[188] Market and Competitive Position - The company plans to enhance cooperation with operators and expand into overseas markets to improve sales of smartphones[25] - The company did not experience any significant changes in its core competitiveness during the reporting period[36] - There were no major changes in the company's profit structure or sources during the reporting period[29]