Welling Technology's net profit of 3.9171 million in 2020 fell by 29.16% And labor costs increased

On April 13, Weilin Technology (430241) recently released its 2020 annual report, and the company achieved operating income of 85,530,038.95 yuan during the reporting period, down 8.99% year-on-year; the net profit attributable to the shareholders of the listed company was 3,917,061.83 yuan, down 29.16% year-on-year.

Net cash flow from operating activities during the Reporting Period was RMB9,581,342.51 and net assets attributable to shareholders of the listed company as of the end of 2020 were RMB107,749,134.50.

During the reporting period, the sales expenses decreased by 63.15% year-on-year, mainly due to the fact that, in accordance with the relevant provisions of accounting standards, the company adjusted the product transportation costs and construction costs originally included in the sales expenses to the operating costs, and the above changes were related to the presentation caliber.

Operating profit decreased by 32.23% year-on-year, mainly due to the fact that the company's salary in sales expenses and management expenses increased by 2.5001 million yuan in the current period due to the increase in labor costs and the adjustment of the salary system.

Finance expenses for the period were RMB428,830.96, compared to RMB541,408.49 in the same period last year, down 20.79% year-on-year. Investment income for the period was -189,825.69 yuan, compared with -356,144.27 yuan in the same period last year.

According to the data of the digging shell network, Weilin Technology specializes in the research and development, production, sales and technical services of energy-saving refractory materials for high-temperature industrial use, as well as undertaking the overall contracting business of some refractories for high-temperature industrial thermal equipment.

This article originated from the digging shell network