Langsha(SH:600137)2020-04-29 16:00Financial Performance - In 2019, the company achieved a net profit of CNY 15,838,248.19, a decrease of 45.69% compared to the previous year[4]. - The company's operating revenue for 2019 was CNY 331,056,364.45, down 14.59% from CNY 387,587,246.91 in 2018[19]. - The basic earnings per share for 2019 was CNY 0.163, a decline of 45.67% from CNY 0.300 in 2018[20]. - The company’s net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 8,880,774.18, a decrease of 61.71% from CNY 23,193,676.55 in 2018[19]. - The total profit for the year was 1,804.83 million RMB, down 45.30% year-on-year, while net profit fell by 45.69% to 1,583.82 million RMB[48]. - The company’s net profit for 2019 was CNY 15,838,248.19, down 45.5% from CNY 29,161,776.09 in 2018[193]. - The comprehensive income for 2019 amounted to 15,838,248.19 RMB, contributing positively to the equity[200]. Cash Flow - The net cash flow from operating activities was CNY 24,627,056.10, a significant improvement from a negative cash flow of CNY -26,214,879.80 in 2018[19]. - The total cash flow from operating activities in Q4 2019 was 84.58 million RMB, indicating a strong recovery in cash flow management[25]. - The net cash flow from operating activities for 2019 was -423,014.03 RMB, an improvement from -1,090,762.77 RMB in 2018, indicating a reduction in cash outflow[198]. - The net cash flow from investment activities improved to 12,000,000.00 RMB in 2019 from -85,822,787.52 RMB in 2018, showing a positive turnaround[198]. Assets and Liabilities - The total assets of the company at the end of 2019 were CNY 693,311,723.01, a slight decrease of 0.48% from CNY 696,664,011.14 in 2018[19]. - Total liabilities decreased to CNY 189,214,508.44 from CNY 196,591,178.55 in the previous year, indicating a reduction of approximately 3.5%[187]. - Current assets totaled CNY 556,735,746.63, down from CNY 561,888,312.42 in 2018, reflecting a decrease of about 0.9%[186]. - Accounts receivable decreased to CNY 57,622,319.28 from CNY 73,533,932.54, a decline of about 21.6%[186]. - Inventory rose to CNY 101,917,507.22 from CNY 89,251,483.49, marking an increase of approximately 14.3%[186]. Dividends and Shareholder Returns - The company proposed a cash dividend of CNY 1.00 per 10 shares for 2019, subject to shareholder approval[4]. - The company distributed cash dividends amounting to CNY 9,721,758.80, which is 61.38% of the net profit attributable to ordinary shareholders[98]. - The cash dividend per 10 shares for 2019 was CNY 1.00, compared to CNY 1.20 in 2018 and CNY 0.60 in 2017, showing a decrease in dividend payout[98]. - The company distributed dividends totaling 11,666,110.56 RMB in 2019, compared to 5,833,055.28 RMB in 2018, indicating an increase in shareholder returns[200]. Research and Development - The company invested 10.95 million yuan in R&D, representing 3.31% of total revenue, focusing on improving product comfort and functionality[35]. - The total R&D expenditure was CNY 10,954,654.98, representing 3.31% of operating revenue[64]. - The company emphasized enhancing its research and development capabilities to drive innovation and improve market competitiveness[22]. Market and Sales Performance - Online sales accounted for 58.22% of total sales, amounting to 192.23 million yuan, while offline sales contributed 41.78%, totaling 137.96 million yuan[34]. - The company’s strategic focus includes enhancing brand influence through mobile e-commerce and optimizing business layout to adapt to market demands[21]. - The company faced challenges due to economic downturns and increased competition, necessitating a focus on optimizing business layout and market management[39]. - The overall market environment remains challenging, with intensified competition and economic downturn affecting sales performance[54]. Legal and Compliance - The company is involved in multiple legal disputes, including a contract dispute with supplier Yiwushi Tiancan Garment Co., Ltd., with a claimed amount of RMB 5,597,092.20[105]. - The company has established repayment agreements with several customers, indicating a focus on maintaining distributor relationships[106]. - The company has committed to transparency in financial reporting by adhering to the revised financial statement formats issued by the Ministry of Finance[99]. Internal Controls and Governance - The company has established a robust internal control system to ensure compliance and safeguard assets, enhancing operational efficiency[164]. - The audit committee confirmed that the company's annual financial statements accurately reflect its financial condition for 2018[160]. - No significant internal control deficiencies were identified as of December 31, 2019, ensuring effective financial reporting controls[165]. - The company has implemented strict financial risk controls regarding external guarantees and investments, following regulatory guidelines[152].