BIRD(SH:600130)2020-03-16 16:00Financial Performance - The company's operating revenue for 2019 was CNY 537,231,885.50, a decrease of 11.55% compared to CNY 607,381,787.44 in 2018[19] - The net profit attributable to shareholders for 2019 was CNY 27,916,011.75, down 15.67% from CNY 33,102,925.72 in 2018[19] - Operating profit was 28.58 million yuan, down 9.17% from the previous year, reflecting a reduction of 2.88 million yuan[31] - Net profit attributable to shareholders was 27.92 million yuan, a decline of 15.67% year-on-year, with a decrease of 5.19 million yuan compared to the previous year[31] - The total comprehensive income for 2019 was CNY 27,820,813.38, down from CNY 32,897,234.37 in 2018[140] - The company reported a significant reduction in R&D expenses, totaling CNY 1,101,711.10, down 71.0% from CNY 3,805,395.27 in 2018[142] - The company reported a net loss of CNY 20,920,700.00 in operating profit, an increase in loss of CNY 16,510,100.00 compared to the previous year[45] Assets and Liabilities - The total assets at the end of 2019 were CNY 1,038,150,723.35, a slight decrease of 0.97% from CNY 1,048,344,423.98 at the end of 2018[19] - The total liabilities decreased to CNY 44,782,943.47 in 2019 from CNY 193,002,793.03 in 2018, indicating a significant reduction of 76.8%[136] - Cash and cash equivalents increased to CNY 194,797,712.66 in 2019 from CNY 128,886,826.53 in 2018, representing a growth of 51.1%[135] - The total equity attributable to shareholders increased to CNY 903,479,224.40 in 2019 from CNY 875,658,411.02 in 2018, an increase of 3.5%[137] Cash Flow - The net cash flow from operating activities for 2019 was CNY 18,469,375.38, a significant decrease of 75.71% from CNY 76,034,911.42 in 2018[19] - Cash inflows from investment activities totaled 352,619,550.75 RMB in 2019, compared to 231,218,195.39 RMB in 2018, representing an increase of approximately 52.5%[148] - The net cash flow from investment activities for 2019 was 201,357,262.72 RMB, a substantial increase from 24,486,709.84 RMB in 2018, indicating a growth of over 720%[148] Research and Development - The company’s research and development capabilities have weakened significantly, impacting its competitive edge in the market[27] - Research and development expenses decreased by 46.50% to CNY 8,833,626.02, reflecting reduced investment in R&D[41] - The proportion of R&D expenses to total revenue was 1.64%, with 18 R&D personnel accounting for 4.60% of the total workforce[42] Business Operations - The traditional mobile phone business continued to shrink due to intensified market competition, with new smart device businesses not meeting expectations[26] - The company shifted its business model from primarily ODM to OEM, resulting in lower profitability for existing operations[26] - The company has made significant internal adjustments to cope with competitive pressures, including optimizing personnel and controlling costs[30] Governance and Compliance - The company strictly adheres to relevant laws and regulations to ensure the protection of shareholder interests and maintain a healthy governance structure[107] - The internal control audit report confirmed that the company maintained effective financial reporting internal controls as of December 31, 2019[112] - The company has not reported any major deficiencies in internal control during the reporting period[111] Shareholder Information - The total number of common stock shareholders at the end of the reporting period is 77,644, an increase from 74,972 at the end of the previous month[87] - The largest shareholder, Bowei Technology Group Co., Ltd., holds 125,946,400 shares, representing 16.40% of total shares, with 100,000,000 shares pledged[89] - The company does not have a controlling shareholder or actual controller as per the latest regulations[91] Future Outlook - The company plans to control expenditures strictly and explore new electronic product processing businesses to reduce factory losses[56] - The company aims to enhance resource utilization efficiency and actively seek partnerships to navigate operational challenges[56] - The company plans to focus on market expansion and new product development in the upcoming year[139]