Securities code: 300256 securities abbreviation: Jiangxi Firstar Panel Technology Co.Ltd(300256) Announcement No.: 2022-005 Jiangxi Firstar Panel Technology Co.Ltd(300256)
Announcement on the reply to the inquiry letter of the annual report of Shenzhen Stock Exchange (Updated)
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
Jiangxi Firstar Panel Technology Co.Ltd(300256) (hereinafter referred to as “the company”) received the inquiry letter on the annual report of Zhejiang Xingxing Technology Co., Ltd. (GEM annual report inquiry letter [2021] No. 484) (hereinafter referred to as “the inquiry letter”) issued by the management department of gem company of Shenzhen Stock Exchange on June 11, 2021. After receiving the inquiry letter, the company attached great importance to it, Immediately organize relevant departments and intermediaries to study and implement the matters and problems raised in the inquiry letter one by one.
The company replied to the questions involved in the annual report inquiry letter, and disclosed the announcement on reply to the annual report inquiry letter of Shenzhen Stock Exchange (Announcement No.: 2021-0066) on cninfo.com on June 28, 2021, The correction announcement (Announcement No.: 2021-0070) and the reply to the inquiry letter of the annual report of Shenzhen Stock Exchange (Updated) (Announcement No.: 2021-0066) were disclosed on July 7, 2021.
On December 30, 2021, the company held the 33rd meeting of the 4th board of directors and the 15th meeting of the 4th board of supervisors, deliberated and adopted the proposal on correction of accounting errors in the early stage, and corrected accounting errors in the financial statements of 2019, 2020 and the first quarter of 2021. Therefore, the answers to some questions in the inquiry letter of the 2020 annual report need to be corrected accordingly, and bold italics are the corrected contents. The specific reply announcement is as follows:
Unless otherwise specified, the abbreviations or terms in this reply announcement have the same meaning as those in the company’s 2020 annual report.
The mantissa difference or inconsistency of the data involved in this reply announcement is caused by rounding.
Question 1 During the reporting period, your company achieved an operating revenue of 8.298 billion yuan, a year-on-year increase of 30.81%; The net profit attributable to the shareholders of the listed company was 119 million yuan, a year-on-year decrease of 31.62%. The sales volume was 708 million pieces, a year-on-year increase of 3.10%; The inventory was 171 million pieces, an increase of 14.44% over the beginning of the year; The book balance of goods in stock at the end of the period was 408 million yuan, a decrease of 33.51% over the beginning of the year. Please explain the reason and rationality of the large difference in the change trend between operating revenue and sales volume, ending inventory and book balance of inventory goods in combination with the change of operating revenue and inventory of specific products. The annual audit accountant shall check and give clear opinions.
reply:
As the company hired ZTE caiguanghua Certified Public Accountants (special general partnership) to re audit the 2020 financial statements after the company’s errors were corrected, the company updated the financial data in the above questions according to the new audit report. Question 1 is updated as follows:
Question 1 During the reporting period, your company achieved an operating revenue of 5.171 billion yuan, a year-on-year increase of 5.43%; The net profit attributable to shareholders of listed companies was -2.75 billion yuan, a year-on-year decrease of 114.69%. The sales volume was 559 million pieces, a year-on-year decrease of 8.71%; The inventory was 115 million pieces, a decrease of 26.55% over the beginning of the year; The book balance of goods in stock at the end of the period was 412 million yuan, a decrease of 43.25% over the beginning of the year. Please explain the reason and rationality of the large difference in the change trend between operating revenue and sales volume, ending inventory and book balance of inventory goods in combination with the change of operating revenue and inventory of specific products. The annual audit accountant shall check and give clear opinions.
(I) operating income
The details of the company’s operating revenue are as follows:
Unit: RMB 10000
Change range of amount in 2020 and 2019 by category
Main business income 496952.46 448452.22 48500.24 10.82%
Other business income 20148.52 42021.48 -21872.96 -52.05%
Total operating revenue 517100.98 490473.70 26627.28 5.43%
In 2020, the operating revenue increased by 266 million yuan, an increase of 5.43%, mainly driven by the growth of the sales revenue of the main business. Compared with 2019, the sales revenue of the main business increased by 485 million yuan, an increase of 10.82%. The details of main business income by product sales are as follows:
Unit: RMB 10000 / 10000 tablets
Change range of main business category in 2020 and 2019
Sales revenue sales revenue sales revenue sales revenue
Touch display class 3423.18 115492.89 3314.25 81891.36 3.29% 41.03%
Window protective screen 3642.42 80606.23 4889.82 91386.98 -25.51% – 11.80%
Structural parts 48864.24 300853.33 53062.04 275173.88 – 7.91% 9.33%
Main business income 55929.84 496952.45 61266.11 448452.22 – 8.71% 10.82% total
The company’s main business is divided into three categories: touch display, window protective screen and structural parts:
In 2020, the sales revenue of touch display will reach 1.155 billion yuan, an increase of 336 million yuan over 2019, an increase of 41.03%, which is the main growth point of the company’s main business in 2020.
Touch display products are classified by category as follows:
Unit: RMB 10000 / 10000 tablets
Changes in 2020 and 2019
By category
Sales revenue sales revenue sales revenue sales revenue
Capacitive touch screen 327.39 19562.71 2014.85 22139.62 – 83.75% – 11.64%
Resistive touch screen 92.94 2448.95 157.31 3817.74 – 40.92% – 35.85%
Full fit screen 3002.85 93481.23 1142.09 55934.00 162.93% 67.13%
Subtotal of touch display 3423.18 115492.89 3314.25 81891.36 3.29% 41.03%
As shown in the above table, the growth of touch display sales revenue is mainly due to the increase of full fit screen business. In 2020, the sales revenue of full fit screen business was 935 million yuan, an increase of 375 million yuan over 2019, accounting for 111.61% of the growth of touch business sales. Although affected by Huawei chips, the full fit screen business of wearable and mobile phones decreased in 2020, However, the company actively developed the horizontal business of full fit screen, extending from the full fit screen of intelligent wearable (watches and bracelets) in 2019 to the full fit screen below 17 inches that can cover most vehicle, tablet and laptop, successfully expanded the share of tablet and laptop Business in Huawei and Tianma, and ensured the annual growth of full fit screen business, achieving an increase of 67.13%.
In 2020, the sales revenue of window protective screen was 806 million yuan, a decrease of 108 million yuan or 11.8% compared with 2019, mainly due to the strategic adjustment implemented by the company in 2020, which reduced most orders of mobile phone cover plate with low gross profit and increased orders of categories with high gross profit margin, such as laptop, vehicle, industrial control, tablet and other windows, The advantages of income and profit will be gradually reflected in the follow-up.
The sales revenue of structural parts in 2020 was 3.009 billion yuan, an increase of 257 million yuan or 9.33% over 2019, mainly due to the increase in the proportion of precious metal business. The sales revenue of precious metal business in 2020 was 1.646 billion yuan, an increase of 680 million yuan over 2019. The unit price of this business was high and had a great impact on the revenue. Therefore, there is a difference between the growth of sales revenue and sales volume. The specific sales proportion comparison data of structural parts business and precious metal business are as follows:
Unit: RMB 10000 / 10000 tablets
Variation in 2020 and 2019
Sales by category
Proportion of sales amount proportion of sales amount proportion of sales amount proportion of sales amount
Structural parts 48369 136254 45.29% 52385 178605 64.91% – 4016 – 42351 – 19.62% business
Precious metals 496 164599 54.71% 677 96569 35.09% – 182 68030 19.62% business
Total 48865 300853 100.00% 53062 275174 100.00% – 4198 25679 0.00%
(II) inventory changes
Details of inventory changes of the company are as follows:
Unit: RMB 10000
Change range of closing amount and opening amount of inventory category
Raw materials 23284.05 18936.22 22.96%
WIP 18121.51 22204.50 – 18.39%
Goods in stock 31276.11 60524.33 – 48.32%
Revolving materials 1700.71 3369.04 – 49.52%
Issued goods 11773.14 38905.78 – 69.74%
Entrusted processing materials 719.42 943.69 – 23.77%
Total 86874.94 144883.56 – 40.04%
At the end of the reporting period, the company’s inventory was 869 million yuan, a decrease of 580 million yuan or 40.04% compared with the beginning of the period, of which the amount of inventory goods changed greatly and decreased compared with the beginning of the period
