Brother Wenyi's 2019 net profit of 3.27 million fell by 29% due to the increase in employee compensation

On March 27, the news of the digging shell network showed that the 2019 annual report of brother Wenyi (871733) recently released showed that the operating income in 2019 was 234 million yuan, an increase of 9.64% over the same period of the previous year; the net profit attributable to the shareholders of the listed company was 3.269 million yuan, down 28.68% from the same period of the previous year; the basic earnings per share was 0.06 yuan, compared with 0.2 yuan in the same period of the previous year.

As of 2019, the total assets of Brother Wenyi were 134,670,477.59 yuan, an increase of 41.24% over the end of the previous year. Net cash flow from operating activities was $3,638,970.59 for the current period, compared to -$19,081,696.25 for the same period last year.

It is understood that during the reporting period, the company achieved operating income of 234.0963 million yuan, an increase of 9.64% over the same period last year of 213.5182 million yuan; the gross profit margin was 17.82%, no significant change from 17.56% in the same period last year; the net profit attributable to the mother was 3.269 million yuan, down 28.68% from 4.5834 million yuan in the same period last year, mainly due to the increase in the salary of employees in the current period.

In FY2019 and FY2018, the net cash flow generated by the Company's operating activities was RMB3,638,970.59 and RMB-19,081,696.25, respectively. Net cash flow from operating activities increased by $22,720,666.84 in 2019 compared to 2018, and the main reasons for the significant increase include: 1) the cash received from the sale of goods and the provision of services due to the increase in operating income in the current period increased by approximately $14.39 million compared with the previous period; 2) the increase in accounts payable at the end of the period due to the company's integration and optimization of suppliers, which in turn led to a decrease of approximately $5.7 million in cash for the purchase of goods and the acceptance of payment for services in the current period compared with the previous period 3) In 2019, the state significantly reduced the value-added tax rate, and the taxes paid in the current period were reduced by about 1.51 million yuan compared with the previous period.

In 2019 and 2018, the net cash flow generated by the company's investment activities was -4,025,348.16 yuan and -3,120,742.16 yuan, respectively. Net cash flow from investing activities decreased by $904,606.00 in 2019 compared to 2018, mainly due to new renovation costs of $3,555,263.29 in 2019, an increase of $1,011,236.90 compared to $2,544,026.39 in 2018.

In 2019 and 2018, the net cash flow generated by the company's financing activities was 4,607,509.72 yuan and 19,549,278.13 yuan, respectively. The net cash flow from fundraising activities in 2019 decreased significantly by RMB14,941,768.41 compared to FY2018, mainly due to the investment of approximately RMB10 million in the Company's share issuance in 2018.

In 2019, the company's net cash flow from operating activities did not differ much from net profit.

According to the data of the New Third Board Research Institute, Brother Wenyi, as an integrated supplier of office supplies, has conducted in-depth research on the office supplies industry since its inception, and is committed to providing customers with "one-stop" office supplies terminal customer distribution services.

This article originated from the digging shell network