Announcement time of this financial report: 2023-10-27 19:51:28

Longteng Optoelectronics (stock code: 688055) is an enterprise focusing on the new display industry, involving various display technologies, including TFT-LCD, AMOLED, MLED, electronic paper, etc. However, during the reporting period, global economic growth slowed, consumer electronics market demand was sluggish, and the display panel industry as a whole was in a period of consolidation at the bottom of the cycle. Despite this, the company remains committed to technological innovation and product optimization to meet the changing needs of the market.

In terms of assets and liabilities, total assets at the end of the reporting period were 7.547 billion yuan, up 9.73% from 6.878 billion yuan at the end of the previous year. Total liabilities were $2,997 billion, up 44.5% from $2,074 billion at the end of the previous year. Net assets were $4,551 million, down 5.27% from $4.804 billion at the end of the previous year. The balance ratio was 39.7%, up 9.55 percentage points from 30.15% at the end of the previous year.

In terms of profit, operating income from the beginning of the year to the end of the reporting period was 2,766 billion yuan, down 17.11% from the same period last year of 3,337 billion yuan. Operating profit was -298 million yuan, down 203.8% from 287 million yuan in the same period last year. Operating costs were $2,592 billion, down 3.32% from $2,681 million in the same period last year. Net profit was -235 million yuan, down 190.07% from 261 million yuan in the same period last year.

In terms of cash flow, net cash flow from operating activities from the beginning of the year to the end of the reporting period was $572 million, up 393.64% from $116 million in the same period last year. The total cash inflow from operating activities was $3,046 billion, down 21.73% from $3,891 million in the same period last year. The total cash outflow from operating activities was $2,474 billion, down 34.48% from $3,775 billion in the same period last year.

In summary, Longteng Optoelectronics faced industry challenges during the reporting period, and net profit declined, but net cash flow from operating activities increased significantly, showing that the company achieved certain results in optimizing management, reducing costs and increasing efficiency. Looking ahead, the company will continue to work on technological innovation and product optimization to meet changing market needs, help develop next-generation information technology, and promote the prosperity of the digital economy.

For investors, although the company's business conditions during the reporting period faced some challenges, its technological advantages and market prospects in the new display industry still deserve attention. At the same time, the company's efforts in optimizing management, reducing costs and increasing efficiency have also laid a solid foundation for its future development. Investors can keep an eye on the company's subsequent development and make investment decisions in a timely manner.

This article only represents the judgments made by analysts themselves or analysts based on AI analysis. It cannot be used as an investment indicator, nor does it constitute any investment advice. The original purpose of this article was to help investors analyze and judge capital market data in the most intuitive and fastest way and from the most professional perspective.