During the reporting period, the net cash flow from operating activities was RMB 113,091,792.20, and the net assets attributable to shareholders of the listed company as of the end of 2020 were RMB 494,737,570.92.
During the reporting period, the sales expenses decreased by 12.99% compared with the same period of the previous year. The main reason is that the company has measured the cost of revenue according to the new revenue standard since January 1, 2020, and the equipment freight and installation and commissioning fees incurred in accordance with the contract are the same as sales. Combination of goods constitutes a single performance obligation. Financial expenses decreased by 67.48% compared with the same period of the previous year, mainly due to the increase in the company's interest and the decrease in foreign exchange gains and losses in the current period.
The company's credit impairment loss was due to the reversal of the provision for bad debts of accounts receivable. The credit impairment loss in the current period decreased by 64.78% compared with the same period of the previous year. The main reason was that the receivables were recovered compared with the previous period. slightly reduced. According to
, LONGi Electromagnetic specializes in the design, production, sales and service of magnetic separators, iron separators, lifting magnetic equipment, non-ferrous separation and purification equipment and other industrial magnetic application equipment.
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