BIRD(SH:600130)2017-03-27 16:00Financial Performance - The company's operating revenue for 2016 was CNY 3,190,023,343.41, representing a 66.86% increase compared to CNY 1,911,770,480.81 in 2015[17] - The net profit attributable to shareholders for 2016 was CNY 30,807,547.81, a decrease of 49.48% from CNY 60,982,353.62 in 2015[17] - The basic earnings per share for 2016 was CNY 0.04, down 50.00% from CNY 0.08 in 2015[18] - The operating profit for the year was CNY 18,157,500, a decrease of 54.12% compared to the previous year[30] - The total profit for the current period was ¥36,561,910.36, down 42.2% from ¥63,187,257.69 in the last period[119] - The total comprehensive income for the current period was ¥30,534,480.38, down 53.8% from ¥66,113,989.91 in the previous period[120] Assets and Liabilities - The total assets at the end of 2016 were CNY 1,431,668,632.40, an increase of 4.00% from CNY 1,376,650,197.06 at the end of 2015[17] - Current liabilities rose to CNY 428,688,140.05, up from CNY 403,428,780.77, indicating an increase of about 6.3%[115] - Total liabilities increased to CNY 436,490,255.38 from CNY 412,006,300.42, marking a rise of about 5.9%[115] - The company's equity attributable to shareholders rose to CNY 995,178,377.02 from CNY 964,643,896.64, an increase of approximately 3.2%[115] Cash Flow - The company reported a negative cash flow from operating activities of CNY -198,951,551.84 in 2016, a decline of 312.77% compared to CNY 93,503,757.97 in 2015[17] - Cash and cash equivalents decreased by 45.35% to ¥220,310,204.13, primarily due to a reduction in net cash flow from operating activities[45] - Cash inflow from sales of goods and services reached ¥3,207,460,307.52, up from ¥2,023,212,963.27, representing a 58.7% increase year-over-year[124] - Cash outflow for purchasing goods and services was ¥3,586,271,278.40, compared to ¥1,975,463,754.44, marking an increase of 81.7%[124] Research and Development - The company's R&D expenditure increased by 29.19% to CNY 81,194,780.22[33] - Research and development expenses totaled CNY 81,194,780.22, accounting for 2.55% of total revenue[41] - The company aims to increase R&D investment and enhance organizational management to improve R&D capabilities[53] Market and Competition - The global smartphone shipment in 2016 was 1.47 billion units, with a growth rate of only 3% compared to the previous year[29] - The competitive landscape in the smartphone market is intensifying, with the top five brands holding over 70% market share[25] - The company is focusing on low-end smartphone markets and has increased cooperation with telecom operators to boost sales[29] Shareholder and Dividend Policy - The company has revised its profit distribution policy to ensure a stable return for investors, committing to distribute at least 30% of distributable profits as cash dividends when profitable[58] - The company has not proposed a cash dividend distribution plan for the reporting period due to accumulated losses, indicating it does not meet the conditions for cash dividends[59] - The company has a history of cash dividends, with amounts distributed in previous years being 30,807,547.81 RMB in 2016, 60,982,353.62 RMB in 2015, and 74,352,240.99 RMB in 2014[60] Governance and Compliance - The company maintained a healthy governance structure, ensuring compliance with relevant regulations and protecting shareholder interests[101] - The board of directors held 8 meetings during the year, with all members actively participating, demonstrating strong governance practices[103] - The internal control audit report confirmed that the company maintained effective financial reporting controls throughout the year[106] Employee and Management - Total compensation for all directors, supervisors, and senior management during the reporting period amounted to 3.4799 million yuan[93] - The company employed a total of 1,250 staff, with 677 in production, 33 in sales, 431 in technology, 24 in finance, and 85 in administration[96] - The company has established a comprehensive training program aimed at enhancing employee skills and capabilities[98] Risks and Future Outlook - The company has not reported any significant risks that would adversely affect its future development strategies and operational goals[4] - The company faces challenges due to increasing brand concentration in the smartphone market, with the top five brands holding over 70% market share[51] - The company has faced significant uncertainties in developing new products and exploring new businesses, which may impact future performance[55] Accounting Policies - The financial statements comply with the requirements of the enterprise accounting standards, reflecting the company's financial status accurately[146] - The company recognizes research phase expenditures as expenses in the current period, while development phase expenditures can be capitalized if certain criteria are met[182] - The company uses a weighted average method for inventory valuation and assesses net realizable value based on the lower of cost or net realizable value[166]