Luen Fat Shares (002394):2019 Net Profit 368 Million Decline 6% Sales Revenue Decline

In February 25th, Luen Fat shares issued the annual performance bulletin in 2019. The total operating income in 2019 was 3 billion 913 million yuan, down 6.13% from the same period last year. The net profit attributable to shareholders of listed companies was 368 million yuan, down 5.66% from the same period last year.

According to the announcement, the total assets of the joint stock company were 4 billion 525 million yuan, an increase of 6.49% over the current reporting period, and a basic earnings per share of 1.107 yuan, compared with 1.2059 yuan in the same period last year.

It is understood that during the reporting period, the company achieved operating income of 3 billion 913 million 40 thousand yuan, down 6.13% compared to the same period last year, and realized operating profit of 481 million 200 thousand yuan, down 5.28% from the same period last year. The total profit realized was 482 million 660 thousand yuan, down 4.54% compared to the same period last year, and the net profit attributable to shareholders of listed companies was 36. 8 million 230 thousand yuan, down 5.66% compared with the same period last year. The main reasons for the decline in corporate profits are: 1) the reduction in orders and sales revenue this year; 2) the increase in the cost of equity incentive.

At the end of the reporting period, the total assets of the company were 4 billion 524 million 670 thousand yuan, up 6.49% from the beginning of the period; the owners' equity of the shareholders belonging to the listed companies was 3 billion 388 million 480 thousand yuan, an increase of 5.93% compared with the beginning of the period; the net assets per share attributable to the shareholders of the listed companies were 10.47 yuan, up 5.93% from the beginning of the period.

Statistics show that the joint venture is a large high-tech enterprise with the whole industry chain of ginning, spinning, dyeing, weaving, finishing, knitting, home textile, printing and dyeing, garment making, thermoelectricity, sewage treatment, brand operation and warehousing and logistics.