pennbattle32500| Li Jun, chairman of Liard, said that five mistakes caused stock prices to plummet and wrote a poem "shame is difficult to publish annual report"(full text)

April 12thPennbattle32500Liad released its annual performance report for 2023. According to the report, the company's operating income is 76.Pennbattle32500.15 billion yuan, down 6.61% from the same period last year; net profit attributed to shareholders of listed companies was 286 million yuan, up 1.6% from the same period last year; and basic earnings per share was 0.11 yuan, compared with 0.11 yuan in the same period last year.

It is worth mentioning that at the beginning of the annual report, Li Jun, chairman of Liad, delivered a speech and mentioned the five major mistakes that led to the collapse of the company's share price in 2023. "it is hard to be ashamed to issue an annual report, but it is hard to escape the responsibility of the performance cone," he concluded in a poem. After knowing the shame, we will work together bravely to look forward to the present. " Li Jun said that although Liad's operating cash flow increased sharply to nearly 900 million in 2023, the year-on-year net profit only increased slightly, and revenue also declined slightly, which was seriously lower than investors' expectations, which also led to a sharp fall in stock prices, causing some losses to investors. As the man at the helm of the company, I was heartbroken, ashamed, and deeply remorseful. After deep reflection, I summed up five major mistakes and admitted frankly. As follows, for investors to criticize and correct:

The first mistake was to be too optimistic about the recovery and growth of the market in 2023, which led to the sales plan being set too high (the budget was too large), so that the annual report was much lower than investors expected.

Second, lack of understanding and preparation for intensified competition in the industry (price war), failure to integrate direct sales and channel business in time, resulting in partial internal friction and loss of some orders, channel business decreased significantly throughout the year (resulting in channel business losses).

Third, failure to adjust and strengthen the US and European business in time, resulting in the main battlefield of the company's international business orders, revenue and profits did not meet expectations (although the business continued to grow in Asia, Africa and Latin America).

Fourth, the cultural travel night tour enterprises and individual enterprises with the original M & An investment suffered large losses, due to the untimely institutional integration and personnel adjustment, poor collection of receivables and poor cost control, and dealing with some historical burdens.

Error five, the company's overall management digitization and production automation started relatively late, resulting in the company's management efficiency (personnel reduction) and production efficiency did not reach the due level last year.

Li Jun said that he was deeply aware of his shortcomings and mistakes. In 2024, we will then formulate an effective development strategy, embark on the road of steady and medium-speed development, and strive to achieve a bumper harvest of performance and investor returns, and please wait and see.

With the full text of the speech delivered by Chairman Li Jun:

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