On April 1, Changshun bakery (870810) recently released its 2020 annual report. During the reporting period, the company achieved an operating revenue of 57384342.60 yuan, a year-on-year increase of 22.37%; the net profit attributable to shareholders of listed companies was 6701246.23 yuan, a year-on-year increase of 341.02%.
During the reporting period, the net cash flow from operating activities was 14052123.17 yuan, and the net assets belonging to the shareholders of the listed company were 48690881.86 yuan by the end of 2020.
The operating revenue of this year has increased by 22.37% compared with that of the previous year. The main reason is that the company has increased its marketing efforts in this year, and the production and operation of Fujian subsidiary has gradually been on the right track, resulting in an increase in sales. Some factory buildings in Wuxi are leased to the outside world, increasing other business income.
This year’s operating profit increased by 369.73% and net profit increased by 369.73% compared with the previous year. The main reasons are the increase of operating revenue, the increase of cost control in the production process and the increase of gross profit rate.
During the period, the financial expenses were 3752272.55 yuan, compared with 2856552.94 yuan in the same period of last year, with a year-on-year increase of 31.36%. The main reason was that the company borrowed some loans from non bank financial institutions in order to solve the temporary capital turnover, and the higher interest rate led to the increase of interest expenses.
According to our data, Changshun bakery is a professional manufacturer of complete solutions for industrial bakery appliances and various bakery appliances.