Langsha(SH:600137)2021-04-26 16:00Financial Performance - In 2020, the company achieved a net profit of CNY 17,756,596.02, representing a year-on-year increase of 12.11%[5]. - The total operating revenue for 2020 was CNY 346,533,245.24, which is a 4.67% increase compared to 2019[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 10,496,303.65, reflecting an 18.19% growth from the previous year[21]. - The company's cash flow from operating activities increased by 40.52% to CNY 34,605,485.94 in 2020[21]. - The basic earnings per share for 2020 was CNY 0.183, up 12.27% from CNY 0.163 in 2019[22]. - The total profit for 2020 was 1,995.97 million CNY, which is an increase of 10.59% year-on-year, while the net profit reached 1,775.66 million CNY, up by 12.11%[51]. - The company reported a significant increase in cash flow from operating activities, with a net cash flow of 34,605,485.94 CNY, up by 40.52% year-on-year[52]. - The company reported a total liability of RMB 696,177,569.02, with current liabilities not specified in the provided data[188]. Revenue and Sales - The company achieved total operating revenue of 347 million yuan in 2020, an increase of 4.67% compared to 2019[43]. - Online sales accounted for 61.43% of total sales, amounting to 211.98 million yuan, while offline sales made up 38.57% at 133.12 million yuan[37]. - The total revenue for Q1 2020 was CNY 48.55 million, which increased to CNY 61.12 million in Q2 and further to CNY 85.06 million in Q3, indicating a positive trend throughout the year[26]. - Domestic sales revenue was 342,872,726.44 CNY, growing by 6.67%, while export sales dropped by 74.57% to 2,225,443.59 CNY[55]. - The revenue from the East China region was CNY 31,253.75 million, accounting for 90.56% of total revenue, with a year-on-year increase of 7.52%[83]. Costs and Expenses - The company's main business cost for the reporting period was CNY 301,442,197.90, an increase of 10.56% compared to the previous year[62]. - The gross profit margin for the main business was 12.65%, a decrease of 4.78 percentage points compared to the previous year[55]. - Sales expenses decreased by 34.07% to CNY 9,658,195.93, primarily due to reduced sales through television shopping and supermarkets[66]. - Management expenses decreased by 24.85% to CNY 6,890,507.24, mainly due to the impact of COVID-19 on operations[66]. Assets and Liabilities - The company's total assets as of December 31, 2020, were CNY 696,177,569.02, a slight increase of 0.41% from the previous year[21]. - The company's cash and cash equivalents at the end of the period were CNY 393,476,343.01, an increase of 7.38% from CNY 366,434,407.65 at the end of the previous period[71]. - The total amount involved in litigation during the reporting period is CNY 12,118,097.40[108]. - Total liabilities decreased from CNY 189,214,508.44 in 2019 to CNY 184,045,517.23 in 2020, a reduction of approximately 2%[189]. Research and Development - R&D investment reached 9.74 million yuan, constituting 2.81% of total operating revenue[38]. - The total R&D expenditure was CNY 9,743,990.28, which is 2.81% of operating revenue[67]. - The company emphasizes product research and development, having established a postdoctoral workstation for new underwear product development to meet consumer demands[153]. Strategic Initiatives - The company has outlined a strategy focusing on technological innovation and market expansion to enhance its operational capabilities[23]. - The company aims to enhance customer experience and brand influence through improved service and product quality[41]. - The company plans to enhance internal management and operational efficiency in 2021, focusing on brand development and channel optimization[48]. - The company aims to strengthen innovation and product development, emphasizing self-research and collaboration with external research institutions[50]. Legal Matters - The lawsuit initiated by Langsha Underwear Company against supplier Yiwu Tiancan Garment Co., Ltd. involves a claim for the return of a deposit and advance payment totaling ¥5,597,092.20, including double return of the deposit, interest, and penalties[107]. - The company has been actively pursuing legal actions to recover outstanding debts from various customers[108]. - The total amount involved in the litigation cases reflects the company's ongoing legal challenges and financial implications[107]. Governance and Compliance - The company has established various governance rules to ensure compliance and effective management[148]. - The company has implemented strict regulations for external guarantees and investments, ensuring financial risk control and safety of investment funds[150]. - The audit report indicates that there are no significant uncertainties regarding the company's ability to continue as a going concern[184]. - The company has established a comprehensive internal control system, covering all major aspects of its operations, with 100% of total assets and revenue included in the evaluation scope[165].