BIRD(SH:600130)2021-04-26 16:00Financial Performance - The company's operating revenue for 2020 was CNY 715,034,191.35, representing a 33.10% increase compared to CNY 537,231,885.50 in 2019[20]. - The net profit attributable to shareholders of the listed company was CNY 34,305,842.23, up 22.89% from CNY 27,916,011.75 in the previous year[20]. - The total revenue for the reporting period was CNY 715,034,191.35, representing a year-on-year increase of 33.10%[35]. - The operating profit for the period was CNY 4,760.06 million, an increase of 66.56% compared to the previous year[35]. - The company reported a total revenue of 13,250.07 million RMB, with a net loss of 669.01 million RMB for the year 2020[55]. - The company reported a net loss of CNY 357,292,455.40 for the year, an improvement from a loss of CNY 391,598,297.63 in 2019, indicating a reduction in losses of about 8.8%[131]. - The total profit for 2020 was CNY 29,708,251.10, a significant decrease from CNY 113,062,812.94 in 2019, indicating a decline of approximately 73.7%[139]. - The net profit for 2020 was CNY 19,019,398.42, down from CNY 109,254,088.67 in 2019, representing a decrease of about 82.6%[139]. Cash Flow - The net cash flow from operating activities was negative CNY 137,540,512.09, a decrease of 844.69% compared to CNY 18,469,375.38 in 2019[20]. - The company reported a cash flow from operating activities showing a net outflow of CNY -137,540,512.09 in 2020, compared to a net inflow of CNY 18,469,375.38 in 2019[141]. - The company’s total cash inflow from operating activities was CNY 686,144,283.82 in 2020, an increase from CNY 611,567,155.87 in 2019[141]. - The company’s total cash outflow from operating activities was CNY 823,684,795.91 in 2020, compared to CNY 593,097,780.49 in 2019, indicating an increase of approximately 39.0%[141]. - The company’s cash flow from financing activities showed a net inflow of CNY 30,291,335.78 in 2020, compared to a net outflow of CNY -244,873.00 in 2019[142]. Assets and Liabilities - Total assets at the end of 2020 reached CNY 1,251,363,164.66, a 20.54% increase from CNY 1,038,150,723.35 at the end of 2019[20]. - The company's total liabilities reached CNY 297,281,995.27, compared to CNY 134,671,498.95 in the previous year, reflecting a significant increase of approximately 107.9%[131]. - Cash and cash equivalents decreased by 3.21% to CNY 292.92 million, accounting for 23.41% of total assets[49]. - Accounts receivable increased significantly by 269.11% to CNY 239.99 million, primarily due to the acquisition of Yilian Electronics[49]. - Inventory rose by 115.22% to CNY 66.64 million, attributed to increased stockpiling[49]. - The company’s long-term equity investments decreased by 23.96% to CNY 9.69 million[49]. Shareholder Information - The largest shareholder, Bowang Technology Group Co., Ltd., holds 125,946,400 shares, accounting for 16.4% of total shares[85]. - The company has not reported any strategic investors or general legal entities becoming top ten shareholders through new share placements[86]. - The total number of ordinary shareholders at the end of the reporting period was 73,064, an increase from 73,063 at the end of the previous month[83]. - The top ten shareholders do not have any related party relationships or concerted actions among them[85]. Research and Development - The company’s R&D expenses decreased by 4.50% to CNY 8,436,166.70, indicating a slight reduction in investment in innovation[36]. - Research and development expenses totaled approximately $8.4 million, accounting for 1.18% of total revenue[46]. Corporate Governance - The company maintains a sound corporate governance structure, adhering to relevant laws and regulations, ensuring the protection of shareholder interests[108]. - The board of directors held a total of 7 meetings during the year, with 1 in-person meeting and 4 conducted via communication methods[110]. - Independent directors raised objections regarding a proposed land use rights auction and external investment, citing high uncertainty and long payback periods[111]. Market Conditions - The competitive landscape in the mobile phone industry has intensified, with a notable decline in the growth rate of new and replacement smartphone users[30]. - The smartphone market in China has become saturated, leading to a decline in domestic smartphone shipments, while the 5G smartphone market share is expanding[56]. Internal Controls and Audit - The internal control audit report issued by Tianjian Accounting Firm confirmed that the company maintained effective financial reporting internal controls as of December 31, 2020[114]. - The audit opinion on the financial statements was unqualified, indicating that they fairly represent the company's financial status and results of operations[117]. - The company has not reported any significant deficiencies in internal controls during the reporting period[114]. Employee Information - The total number of employees in the parent company is 47, while the main subsidiaries employ 362, resulting in a total of 409 employees[103]. - The professional composition includes 272 production personnel, 8 sales personnel, 80 technical personnel, 12 financial personnel, and 37 administrative personnel[103]. - The company emphasizes a "people-oriented" talent philosophy, providing a comprehensive training system for employee development[105]. Financial Instruments and Accounting Policies - The company has established specific accounting policies for financial instruments, fixed asset depreciation, and revenue recognition, tailored to its operational characteristics[163]. - Financial assets are classified into three categories upon initial recognition: (1) financial assets measured at amortized cost; (2) financial assets measured at fair value with changes recognized in other comprehensive income; (3) financial assets measured at fair value with changes recognized in profit or loss[174]. - The company recognizes financial assets or liabilities when it becomes a party to the financial instrument contract, measuring them initially at fair value[174].