On March 5, caibei.com, Altay (872285) recently released its 2020 annual report. During the reporting period, the company achieved an operating income of 218115350.43 yuan, a year-on-year increase of 10.62%; the net profit attributable to shareholders of listed companies was 1577687.53 yuan, a year-on-year increase of 33.23%.
During the reporting period, the net cash flow from operating activities was -12872638.19 yuan, and the net assets belonging to the shareholders of the listed company were 72342054.83 yuan by the end of 2020.
Operating revenue increased by 10.62% over the same period of last year, The main reason is that in the second half of the year, the market environment improved, the inventory increased, the equipment and personnel further upgraded, which increased the company’s ability to obtain orders, provided more suitable supply chain services for different customers, and continued to obtain customers’ orders. The product quality, response speed and service system were fully affirmed by customers, which made the sales volume of products continue to grow.
The loss of credit impairment increased by 9.56%, which was mainly due to the greater market volatility affected by the epidemic, which tightened customer credit and shortened account period. The gross profit rate increased by 0.82% over the previous year, with a normal range of change. The net profit increased by 33.23% over the same period of last year, mainly due to the increase of net profit caused by the increase of operating profit.
During the period, the financial expenses were 609401.99 yuan, a year-on-year increase of 13%. Investment income decreased by 16627.46 yuan, down 100%. There was no investment in financial products this year.
According to the data of digbei.com, the main business of Altay Co., Ltd. is the research and development of new materials, the processing and sales of aluminum plate, aluminum strip and aluminum alloy plate. It is a complete supply chain service enterprise integrating aluminum plate cutting processing, packaging, warehousing and logistics.