BIRD(SH:600130)2023-08-21 16:00Financial Performance - The company's operating revenue for the first half of 2023 was ¥218,476,040.26, a decrease of 3.88% compared to ¥227,300,446.81 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2023 was ¥9,065,314.37, representing a 2.00% increase from ¥8,887,248.12 in the previous year[18]. - The net cash flow from operating activities decreased significantly by 72.82%, amounting to ¥43,929,914.25 compared to ¥161,634,281.28 in the same period last year[18]. - The total assets at the end of the reporting period were ¥1,198,398,031.09, a slight decrease of 0.23% from ¥1,201,209,586.02 at the end of the previous year[18]. - The net assets attributable to shareholders increased by 0.89%, reaching ¥1,007,840,383.61 compared to ¥998,915,375.26 at the end of the previous year[18]. - Basic earnings per share for the first half of 2023 remained unchanged at ¥0.012, consistent with the same period last year[20]. - The weighted average return on net assets was 0.90%, unchanged from the previous year[20]. - The company reported a net loss from investment activities of ¥302,403,901.77, an increase from a loss of ¥239,963,302.45 in the previous year[30]. - The company reported a net profit of ¥294.20 million from its subsidiary, with total assets of ¥4,707.68 million[36]. - The company reported a net loss of CNY 287,118,075.75 for the period, an improvement compared to a loss of CNY 296,183,390.12 in the previous year[62]. Cash Flow and Liquidity - Cash and cash equivalents decreased by 46.99% to ¥297,973,050.16, accounting for 24.86% of total assets[32]. - The company's cash and cash equivalents decreased to CNY 297,973,050.16 from CNY 562,147,035.91, indicating a decline of approximately 47%[61]. - Cash inflow from operating activities totaled CNY 300,483,819.31, a decrease of approximately 35.4% from CNY 465,296,585.57 in the first half of 2022[73]. - The total cash and cash equivalents at the end of the period is CNY 296,800,577.12, slightly up from CNY 286,923,600.43 in the previous year[74]. - The company’s cash flow from operating activities shows a positive trend, with a net increase in cash and cash equivalents despite challenges in investment activities[74]. Investment and Capital Expenditure - The company made a capital investment of ¥1,500,000 in Chongqing Xingchen Weiye Technology Co., holding a 30% stake[33]. - The total amount of short-term bank wealth management products reached ¥222,735,939.73, with a purchase amount of ¥272,000,000.00[35]. - Cash outflow from investment activities reached CNY 564,674,005.39, an increase from CNY 422,843,063.26 in the previous year[74]. - The net cash flow from investment activities is -CNY 302,403,901.77, worsening from -CNY 239,963,302.45 in the first half of 2022[74]. Operational Efficiency - The operating costs decreased by 6.06%, amounting to ¥190,639,035.09, down from ¥202,939,878.46[29]. - Research and development expenses increased by 7.14%, reaching ¥9,627,129.43 compared to ¥8,985,517.69 in the previous year[29]. - The income tax expense decreased by 67.11%, amounting to ¥801,283.15, down from ¥2,436,340.79[29]. - The company is facing intensified competition in the mobile phone industry, leading to a decline in sales and profitability across its traditional business segments[25]. Shareholder and Equity Information - The company did not distribute profits or increase capital reserves during the reporting period[4]. - The company reported a negative distributable profit at the end of the reporting period, thus it will not distribute profits or increase capital reserves in the first half of 2023[43]. - The total equity attributable to the parent company at the end of the reporting period is 1,048,124,045.09, compared to 1,020,105,386.68 at the end of the previous period, reflecting an increase of approximately 2.1%[84]. - The company has allocated 4,900,000.00 for profit distribution to shareholders in the current period[81]. Risk Management and Compliance - The company has faced significant risks in the highly competitive mobile communications industry, particularly regarding technological and market uncertainties[38]. - The company has implemented carbon reduction measures, successfully reducing carbon dioxide equivalent emissions by 246.67 tons through the use of clean energy (photovoltaic power generation)[46]. - The company has not made any changes to significant accounting policies or estimates during the reporting period[172]. - The company adheres to the enterprise accounting standards, ensuring the financial reports reflect a true and complete picture of its financial status[103]. Financial Instruments and Accounting Policies - Financial assets are classified into three categories upon initial recognition: (1) measured at amortized cost; (2) measured at fair value with changes recognized in other comprehensive income; (3) measured at fair value with changes recognized in profit or loss[112]. - The company uses the effective interest method for subsequent measurement of financial assets measured at amortized cost, with gains or losses recognized in current profit or loss upon derecognition or impairment[114]. - The company recognizes deferred tax assets and liabilities based on the difference between the book value of assets and liabilities and their tax bases, calculated at applicable tax rates[165]. - The company recognizes lease liabilities at the present value of unpaid lease payments at the lease commencement date, using the lease's implicit interest rate or the company's incremental borrowing rate if the implicit rate is not determinable[154]. Receivables and Bad Debt Provisions - Accounts receivable decreased by 32.39% to ¥93,523,104.99, which is 7.80% of total assets[32]. - The total bad debt provision for other receivables is CNY 269,433.48, which is 38.72% of the total book value of CNY 695,885.41[194]. - The aging analysis shows that CNY 536,760.00 (77.1%) of the receivables are aged between 2 to 3 years, with a bad debt provision of CNY 161,028.00 (30%)[195]. - The company has a provision for bad debts that includes amounts for receivables aged over 5 years, totaling CNY 104,314.96, which is fully provided for[195].