BIRD(SH:600130)2022-08-29 16:00Financial Performance - The company's operating revenue for the first half of 2022 was ¥227,300,446.81, a decrease of 45.44% compared to ¥416,635,472.45 in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2022 was ¥8,887,248.12, down 70.26% from ¥29,885,809.85 in the previous year[21]. - Basic earnings per share for the first half of 2022 were ¥0.012, a decrease of 69.23% from ¥0.039 in the same period last year[22]. - The total comprehensive income for the first half of 2022 was CNY 13,455,149.24, a decrease of 62.1% from CNY 35,491,385.67 in the same period of 2021[72]. - The total profit for the first half of 2022 was CNY 7,698,196.88, a decrease of 73.7% from CNY 29,252,001.45 in the same period of 2021[75]. - The company reported a significant reduction in inventory, which decreased to CNY 57,538,564.21 from CNY 60,804,806.18, a decline of approximately 5.0%[65]. Cash Flow and Liquidity - The net cash flow from operating activities increased significantly to ¥161,634,281.28, a rise of 449.26% compared to ¥29,427,497.04 in the same period last year[21]. - The company's cash and cash equivalents decreased by 24.44% to 289,794,666.06, compared to 383,526,370.20 in the previous period[38]. - The cash flow from investing activities showed a net outflow of CNY 239,963,302.45, worsening from a net outflow of CNY 80,241,001.41 in the same period of 2021[78]. - The ending balance of cash and cash equivalents was CNY 47,911,503.43, down from CNY 70,563,004.02 in the previous period, indicating a decrease in liquidity[81]. - The company received CNY 138,316,672.53 in cash related to operating activities, which is a notable increase from CNY 4,959,048.07 in the previous period[81]. Assets and Liabilities - The total assets decreased by 4.61% to ¥1,176,398,471.54 from ¥1,233,195,014.65 at the end of the previous year[21]. - The total liabilities of the company decreased to CNY 147,002,935.62 from CNY 213,089,627.97, reflecting a decrease of about 30.9%[65]. - The company's equity remained stable at CNY 768,000,000.00, unchanged from the previous period[65]. - The accounts receivable decreased to CNY 91,946,685.25 from CNY 180,842,487.64, indicating a reduction of about 49.2%[65]. Research and Development - Research and development expenses increased by 15.95% to 8.99 million yuan compared to 7.75 million yuan in the previous year[32]. - The company is focusing on the development of information technology, IoT technology, and artificial intelligence products[42]. - The company has expanded its product offerings to include IoT modules and automotive electronics, although these new segments are still in the early stages of development[26][29]. Market and Competition - The company reported a significant decline in sales and profitability across its traditional mobile phone and mainboard businesses due to increased competition and market saturation[29]. - The company is facing challenges in maintaining its competitive edge due to reduced R&D capabilities and a lack of new core competencies[28]. - The company has shifted its mobile phone business model from self-manufacturing to purchasing complete units from external suppliers, resulting in lower profit margins[29]. Corporate Governance and Compliance - The company has indicated potential risks that may adversely affect future development strategies and operational goals[8]. - There have been changes in the board of directors, with the appointment of a new independent director[47]. - The company has not disclosed any major litigation or arbitration matters during the reporting period[51]. Taxation and Incentives - The company has subsidiaries benefiting from various tax incentives, including a reduced corporate income tax rate of 15% for high-tech enterprises like Fengruan and Yilian Electronics[187]. - The company’s subsidiary, Jilian Software, enjoys a two-exempt and three-reduced corporate income tax policy, with the current period being the first half-year of the reduction[187]. Accounting Policies - The company adheres to the accounting standards, ensuring that financial statements accurately reflect its financial position and operating results[104]. - The company recognizes financial assets and liabilities at fair value upon initial recognition, with subsequent measurement based on their classification[115]. - The company applies the expected credit loss method for accounts receivable and other receivables[132].