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汇源通信(000586) - 2022 Q1 - 季度财报
2022-04-26 16:00
Financial Performance - The company's revenue for Q1 2022 was ¥75,488,112.64, a decrease of 13.23% compared to ¥86,996,254.54 in the same period last year[4] - Net profit attributable to shareholders was ¥3,827,664.28, representing a 5.03% increase from ¥3,644,275.69 year-on-year[4] - The net profit for Q1 2022 was CNY 4,255,157.71, an increase of 3.2% compared to CNY 4,123,796.57 in Q1 2021[31] - The net profit attributable to the parent company was CNY 3,827,664.28, up from CNY 3,644,275.69, reflecting a growth of 5.0% year-over-year[31] - Operating profit for the quarter was CNY 4,620,473.75, slightly up from CNY 4,440,433.92 in the same period last year[30] - The total comprehensive income for Q1 2022 was CNY 4,255,157.71, compared to CNY 4,123,796.57 in the same period last year, indicating a growth of 3.2%[31] Cash Flow and Liquidity - The net cash flow from operating activities improved significantly, reaching -¥1,959,986.31, an 84.96% increase compared to -¥13,031,558.69 in the previous year[4] - Operating cash flow for Q1 2022 was negative CNY 1,959,986.31, an improvement from negative CNY 13,031,558.69 in the same period last year[33] - The company reported cash inflows from operating activities of CNY 109,044,335.42, compared to CNY 85,947,458.24 in the previous year, marking a 27.0% increase[33] - Cash outflows from operating activities totaled CNY 111,004,321.73, up from CNY 98,979,016.93, indicating a rise of 12.9% year-over-year[33] - Total cash and cash equivalents at the end of Q1 2022 stood at CNY 68,275,994.33, down from CNY 80,249,159.43 at the end of Q1 2021[35] Assets and Liabilities - Total assets at the end of the reporting period were ¥533,268,109.33, up 3.51% from ¥515,200,766.05 at the end of the previous year[4] - Total liabilities increased to CNY 227,863,059.85 from CNY 214,050,874.28, marking a growth of 6.5%[28] - The company's retained earnings grew to CNY 22,919,643.11 from CNY 19,091,978.83, an increase of 20.8%[28] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,102[9] - The top 10 unrestricted shareholders hold a total of 40,000,000 shares from Guangzhou Huifu Qiji Investment Partnership and 27,273,330 shares from Beijing Dingyun Technology Development Co., Ltd[10] Government Support and Expenses - The company received government subsidies amounting to ¥1,041,168.13, a 60.91% increase compared to ¥647,030.90 in the previous year[6] - The company reported a significant decrease in financial expenses, down 76.86% to ¥97,203.08, attributed to the cessation of interest from a seven-day notice deposit[6] Other Financial Metrics - The company's basic earnings per share increased by 5.26% to ¥0.020 from ¥0.019 in the same period last year[4] - Research and development expenses for the quarter were CNY 6,402,674.88, up from CNY 5,626,522.28, indicating a focus on innovation[30] - Cash and cash equivalents at the end of the period were CNY 68,909,244.54, down from CNY 73,387,915.92 at the beginning of the year[26] - Accounts receivable increased to CNY 227,406,459.96 from CNY 226,185,305.92, indicating a slight growth in receivables[26] - Inventory rose to CNY 75,073,825.85, up from CNY 66,326,224.30, reflecting a 13.2% increase[26] Corporate Actions and Updates - The company approved a non-public offering of A-shares on September 23, 2021, which requires shareholder meeting approval[11] - The company’s controlling shareholder, Guangzhou Huifu Qiji, has committed to submit a major asset restructuring plan within 12 months from the completion of the share transfer[12] - As of the report date, the company has not received updates on the freezing of assets related to its controlling shareholder[15] - The court has frozen 29.6 million shares held by Huifu Qiji, valued at approximately 86,557,000 yuan[16] - The company has terminated its participation in the establishment of a merger fund as of February 15, 2022[23] - The company has not received any updates regarding the tender offer initiated by Anhui Hongxu New Energy Co., Ltd[22] Reporting Standards - The company’s financial statements as of March 31, 2022, are prepared and reported in yuan[25]
汇源通信(000586) - 2021 Q4 - 年度财报
2022-03-08 16:00
Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2021, representing a year-on-year increase of 15% compared to 2020[15]. - The net profit attributable to shareholders was RMB 150 million, which is a 10% increase from the previous year[15]. - The company's operating revenue for 2021 was ¥449,639,251.65, a decrease of 7.31% compared to ¥485,105,246.04 in 2020[21]. - Net profit attributable to shareholders for 2021 was ¥26,141,373.52, an increase of 7.28% from ¥24,367,910.32 in 2020[21]. - The net profit after deducting non-recurring gains and losses was ¥22,768,930.06, up 43.84% from ¥15,829,427.30 in 2020[21]. - The company's total assets at the end of 2021 were ¥515,200,766.05, reflecting a 4.96% increase from ¥490,848,239.24 at the end of 2020[21]. - The weighted average return on equity for 2021 was 9.27%, slightly down from 9.49% in 2020[21]. - The company reported a net cash flow from operating activities of -¥6,370,609.59 for 2021, compared to ¥797,923.94 in 2020[21]. - Total revenue for 2021 was 449,639,251.65, a decrease of 7.31% compared to 485,105,246.04 in 2020[50]. - Revenue from optical fibers, cables, and related products increased by 24.13% to 430,211,055.92, while revenue from communication engineering and system integration dropped by 85.97% to 19,428,195.73[50]. - Domestic revenue accounted for 92.23% of total revenue at 414,714,566.15, down 8.03% from 450,922,902.21 in 2020[51]. - The company reported a significant increase in sales volume for optical fibers and cables, rising by 22.38% to 283,093,705.66[54]. - The company reported a positive net profit for the reporting period, with the parent company's distributable profit being positive but no cash dividend distribution plan proposed[132]. Research and Development - The company plans to invest RMB 200 million in R&D for new optical communication technologies in 2022[15]. - R&D investment amounted to ¥24,785,652.79 in 2021, a decrease of 7.77% from ¥26,872,630.53 in 2020[64]. - R&D investment accounted for 5.51% of operating revenue in 2021, slightly down from 5.54% in 2020[64]. - The number of R&D personnel decreased by 18.94% to 107 in 2021 from 132 in 2020[64]. - The company is in the process of developing multiple new products, including a smart high-voltage transmission line monitoring device and a multi-purpose submarine cable unit[62]. - The company has several R&D projects in the trial production stage, aiming to enhance product functionality and market share[62]. - The company has developed new plastic optical fiber products, expanding its application in the quartz optical fiber field, which is expected to increase sales[63]. - The company has made significant advancements in the development of high flame-retardant plastic optical fiber cables, enhancing product performance and brand image[63]. - The number of R&D personnel with a master's degree decreased by 35.71% to 18 in 2021[64]. - The company has not capitalized any R&D investments in 2021, compared to ¥454,625.17 in 2020, marking a 100% decrease[64]. Market Strategy and Expansion - The company has outlined a market expansion strategy targeting Southeast Asia, aiming for a 30% increase in market share by 2023[15]. - The company plans to expand its product applications for plastic optical fibers into industrial control, power, and consumer electronics sectors[31]. - The company is actively participating in the power cable market, benefiting from the national grid's "14th Five-Year Plan" for accelerated grid upgrades[30]. - A new product line of high-speed optical cables is set to launch in Q3 2022, expected to contribute an additional RMB 100 million in revenue[15]. - The company aims to become a leading supplier of online monitoring products for power transmission lines, continuing to optimize existing products[44]. Governance and Compliance - The company maintained a governance structure that includes a general meeting of shareholders, a board of directors, and specialized committees to ensure effective decision-making and oversight[88]. - The company has established independent operations in personnel, assets, finance, and business, ensuring no conflicts of interest with the controlling shareholder[96]. - The company has implemented a performance evaluation and incentive mechanism linked to individual performance, promoting motivation and direction among employees[92]. - The company ensures timely and transparent information disclosure to all shareholders, adhering to principles of fairness and openness[95]. - The company has actively engaged with stakeholders, including creditors, employees, and suppliers, to promote sustainable development[93]. - The company has not encountered any issues related to competition with its controlling shareholder, maintaining a clear operational independence[99]. - The company plans to continue enhancing its governance practices in line with regulatory requirements to support stable and healthy growth[88]. - The company has not reported any major internal control deficiencies that would impact its financial statements[137]. Investor Relations - The company conducted multiple investor calls in January to discuss the 2020 annual performance and future outlook, but no written materials were provided[83]. - In April, the company addressed inquiries regarding the performance of the first quarter of 2021, indicating ongoing communication with investors[83]. - The company is expected to disclose its 2021 semi-annual performance report in May, as indicated in investor communications[83]. - The company has been actively engaging with investors regarding its main business development and shareholder meeting updates[83]. - The investor calls reflect the company's strategy of maintaining transparency and open communication with its investors[83]. - The company has been actively addressing investor inquiries regarding stock price fluctuations and shareholder commitments[84]. Legal and Regulatory Matters - The company is involved in a lawsuit with a claim amount of 22.62 million yuan, currently in the first instance trial stage, with no judgment yet[165]. - Another lawsuit involves a claim of 16.16 million yuan, also in the first instance trial stage, with no judgment yet[165]. - A judgment was made against the company to pay 50,000 yuan and a penalty of 44,000 yuan, with the defendant bearing joint liability[165]. - The company has been criticized for violating the Shenzhen Stock Exchange listing rules, resulting in a public reprimand[166]. Employee and Management Structure - The total number of employees at the end of the reporting period was 458, with 20 in the parent company and 438 in major subsidiaries[123]. - The professional composition includes 217 production personnel, 40 sales personnel, 107 technical personnel, 19 financial personnel, and 75 administrative personnel[123]. - The educational background of employees shows 4 with a doctorate, 20 with a master's degree, 130 with a bachelor's degree, and 304 with an associate degree or below[123]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[133]. - The company plans to elect a new supervisor to maintain compliance with legal requirements following the resignation of Wang Juan[101]. Shareholder Structure - The total number of shares is 193,440,000, with 100% being unrestricted shares[192]. - The largest shareholder, Guangzhou Huifu Qiji Investment Partnership, holds 20.68% of shares, totaling 40,000,000 shares, which are currently frozen[194]. - Beijing Dingyun Technology Development Co., Ltd. holds 14.10% of shares, amounting to 27,273,330 shares[194]. - The top ten unrestricted shareholders collectively hold significant portions of the company's shares, with no new strategic investors entering the top ten[195]. - The shareholder structure remains stable, with no significant changes in the number of shareholders or their holdings[195]. Environmental and Social Responsibility - The company has implemented various measures to manage waste and reduce pollution, including proper treatment of wastewater and solid waste[143]. - The company donated 8,000 RMB to the Red Cross Society and provided materials worth 14,394 RMB to a local school to support rural revitalization efforts[150].
汇源通信(000586) - 2021 Q2 - 季度财报
2021-08-25 16:00
Financial Performance - The company's operating revenue for the first half of 2021 was CNY 212,780,636.30, representing a 32.92% increase compared to CNY 160,079,198.58 in the same period last year[20]. - Net profit attributable to shareholders reached CNY 15,264,619.96, a significant increase of 970.98% from CNY 1,425,291.91 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was CNY 14,325,828.31, up 2,311.55% from CNY 594,049.77 year-on-year[20]. - The basic earnings per share rose to CNY 0.079, marking an increase of 1,028.57% compared to CNY 0.007 in the same period last year[20]. - The company's gross profit margin improved by 6.38 percentage points to 39.70% compared to the previous year[46]. - The company reported a net profit of CNY 8,215,225.27 for the period, compared to a loss of CNY 7,049,394.69 in the previous period, indicating a significant turnaround[126]. - The total comprehensive income for the first half of 2021 was CNY 16.31 million, compared to a loss of CNY 0.15 million in the same period of 2020[132]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 535,933,234.80, reflecting a 9.19% increase from CNY 490,848,239.24 at the end of the previous year[20]. - The net assets attributable to shareholders increased by 5.68% to CNY 284,197,734.28 from CNY 268,933,114.32 at the end of the previous year[20]. - Cash and cash equivalents decreased to ¥80,589,854.84, accounting for 15.04% of total assets, down from 18.00% last year, a decrease of 2.96%[49]. - Accounts receivable increased to ¥242,428,688.13, representing 45.23% of total assets, up from 44.44% last year, an increase of 0.79%[49]. - Inventory rose to ¥68,711,792.06, making up 12.82% of total assets, slightly down from 12.86% last year, a decrease of 0.04%[49]. - Total liabilities rose to CNY 246,550,138.81 from CNY 217,770,351.75, marking an increase of approximately 13.2%[126]. Cash Flow - The net cash flow from operating activities improved to -CNY 13,140,908.73, a 54.57% reduction in losses compared to -CNY 28,922,557.42 in the same period last year[20]. - In the first half of 2021, the company reported cash inflows from operating activities of CNY 209,371,078.86, an increase of 14.87% compared to CNY 182,263,957.09 in the same period of 2020[139]. - The company generated CNY 19,226,356.79 in cash inflows from investment activities, while cash outflows totaled CNY 19,373,390.77, resulting in a net cash flow of CNY -147,033.98[140]. - Cash inflows from financing activities amounted to CNY 16,000,000.00, while cash outflows were CNY 9,608,738.89, leading to a net cash flow of CNY 6,391,261.11[140]. Research and Development - The company has achieved significant progress in the R&D of new products, including prefabricated cables and non-metallic flame-retardant cables, and plans to continue increasing R&D investment to enhance its competitive strength[35]. - Research and development expenses amounted to CNY 10.63 million, a decrease of 4.30% year-on-year[42]. - The company plans to enhance product performance to meet customer demands for stability in optical module products[39]. Market and Industry Position - The company operates in the rapidly growing optical fiber and cable industry, benefiting from the demand for large-scale communication infrastructure in China, as highlighted in the "14th Five-Year Plan" which promotes the deployment of gigabit optical fiber networks[28]. - The main business includes the production and sales of optical fibers, power cables, online monitoring products, and communication engineering construction, with a focus on customized products for major clients like the State Grid and Southern Power Grid[28]. - The company aims to strengthen its position as a leading supplier of online monitoring products for power transmission lines and forest fire prevention, with a focus on expanding its market share in these areas[38]. - The company’s market share remains low in regions like Sichuan, Gansu, and Guizhou, prompting ongoing optimization and adjustment of existing business strategies[34]. Corporate Governance and Compliance - The company emphasizes the importance of understanding investment risks and the differences between plans, forecasts, and commitments[5]. - The company actively protects shareholder rights by ensuring timely and accurate information disclosure, enhancing transparency and communication with investors[74]. - The company adheres to labor laws, providing employees with benefits and a comprehensive performance evaluation system[74]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[81]. - The company has not faced any penalties or corrective actions during the reporting period[87]. Environmental and Social Responsibility - The company and its subsidiaries are not classified as key pollutant discharge units by the environmental protection department[70]. - No administrative penalties were imposed on the company or its subsidiaries during the reporting period due to environmental issues[70]. - The company has established an emergency response plan for environmental incidents to minimize risks from potential leaks of hazardous materials[73]. - The company has maintained compliance with environmental monitoring standards, with all monitored indicators meeting discharge standards[74]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 19,062[111]. - The largest shareholder, Guangzhou Huifu Qiji Investment Partnership, holds 20.68% of the shares, totaling 40,000,000 shares, which are frozen[111]. - The company has a total of 193,440,000 shares, all of which are unrestricted[109]. - The company did not conduct any repurchase transactions among the top 10 shareholders during the reporting period[112]. Financial Reporting and Accounting Policies - The semi-annual financial report has not been audited[84]. - The financial statements are prepared based on the accrual basis of accounting, in accordance with the relevant accounting standards[164]. - The company’s accounting policies are tailored to its operational characteristics, particularly regarding revenue recognition[166].
汇源通信(000586) - 2021 Q1 - 季度财报
2021-04-28 16:00
Financial Performance - The company's operating revenue for Q1 2021 was ¥86,996,254.54, representing a 64.61% increase compared to ¥52,848,835.87 in the same period last year[8]. - The net profit attributable to shareholders was ¥3,644,275.69, a significant recovery from a loss of ¥2,102,096.95 in the previous year[8]. - The basic earnings per share for the period was ¥0.019, compared to a loss of ¥0.011 per share in the same period last year[8]. - Operating revenue rose by 64.61% to ¥86,996,254.54, mainly driven by increased sales of optical fibers, cables, and related products[17]. - Operating profit for Q1 2021 was ¥4,440,433.92, a significant recovery from a loss of ¥3,080,478.46 in the previous year[62]. - The company reported a net profit of ¥4,123,796.57, a substantial improvement from a net loss of ¥2,867,574.09 in the previous year, attributed to higher revenue from optical fiber and cable products[18]. Cash Flow and Liquidity - The net cash flow from operating activities improved to -¥13,031,558.69, a 62.45% reduction in losses compared to -¥34,702,426.65 in the same period last year[8]. - The company achieved a 62.45% improvement in cash flow from operating activities, with a net cash outflow of ¥13,031,558.69, primarily due to the exclusion of cash flows from the sale of a subsidiary[18]. - Cash inflow from investment activities amounted to 10,782,600.00 CNY, with a net cash flow from investment activities of 10,771,711.00 CNY, a significant increase compared to -6,183.99 CNY in the previous period[70]. - The net cash flow from financing activities was CNY 6,747,505.56, contrasting with a net outflow of CNY -1,935,230.88 in the previous year[69]. - The ending balance of cash and cash equivalents was 42,188,213.21 CNY, up from 32,924,337.33 CNY in the previous period[70]. Assets and Liabilities - The total assets at the end of the reporting period were ¥523,813,886.63, reflecting a 6.72% increase from ¥490,848,239.24 at the end of the previous year[8]. - The company's total liabilities increased by 38.03% to ¥78,702,358.06, mainly due to increased payable expenses recognized by subsidiaries[17]. - Current assets totaled CNY 445,224,695.78, up from CNY 413,834,624.35, indicating an increase of about 7.5%[53]. - Total liabilities increased to CNY 246,612,202.57 from CNY 217,770,351.75, marking a rise of approximately 13.3%[55]. - The company's equity attributable to shareholders improved to CNY 272,577,390.01 from CNY 268,933,114.32, reflecting a growth of about 1.5%[55]. Shareholder Information - The top shareholder, Guangzhou Huifu Qiji Investment Partnership, holds 20.68% of the shares, totaling 40,000,000 shares, which are currently frozen[12]. - The total number of ordinary shareholders at the end of the reporting period was 18,810[12]. Government and Legal Matters - The company received government subsidies amounting to ¥646,110.49 during the reporting period[9]. - The court ordered the freezing of assets valued at RMB 86,557,000 related to the controlling shareholder's equity dispute[25]. - The court's freezing order on the assets of the controlling shareholder is set for a duration of three years[24]. - The company faced administrative penalties due to information disclosure violations related to the takeover bid by Shanghai Lezheng and Anhui Hongxu[36]. Operational Insights - The company's accounts receivable increased by 65.24% to ¥11,602,490.12, primarily due to an increase in bank acceptance bills received during the reporting period[17]. - Operating costs increased by 37.02% to ¥48,817,708.84, corresponding to the rise in operating revenue and significant growth in high-margin optical fiber and cable business[17]. - The company recorded a significant increase in sales expenses, which rose by 114.69% to ¥19,381,265.90, due to higher payable expenses incurred by subsidiaries[17]. - Research and development expenses for Q1 2021 were ¥5,626,522.28, slightly down from ¥5,662,353.42 in the previous year, indicating a focus on cost management[60]. Investment Activities - The company plans to invest up to 50 million yuan in a merger fund with Zhongjing Hongxi and Shanghai Lezheng, but there has been no actual progress as of the report date[37]. - The company has committed 800,000 yuan to bank wealth management products, with the entire amount remaining unexpired[45]. - The company has not engaged in any securities or derivative investments during the reporting period[41][42].
汇源通信(000586) - 2020 Q4 - 年度财报
2021-04-07 16:00
Financial Performance - The company's operating revenue for 2020 was ¥485,105,246.04, representing an increase of 11.71% compared to ¥434,269,804.11 in 2019[17]. - The net profit attributable to shareholders in 2020 was ¥24,367,910.32, a significant increase of 190.75% from ¥8,381,075.03 in the previous year[17]. - The net profit after deducting non-recurring gains and losses reached ¥15,829,427.30, up 1,052.43% from ¥1,373,567.04 in 2019[17]. - The basic earnings per share for 2020 was ¥0.1260, which is a 190.99% increase from ¥0.0433 in 2019[17]. - The total assets at the end of 2020 were ¥490,848,239.24, a decrease of 21.49% from ¥625,193,773.42 at the end of 2019[17]. - The net assets attributable to shareholders increased by 9.96% to ¥268,933,114.32 from ¥244,565,204.00 in 2019[17]. - The net cash flow from operating activities was ¥797,923.94, a recovery from a negative cash flow of ¥14,837,915.66 in 2019[17]. - The weighted average return on equity for 2020 was 9.49%, an increase of 6.00% compared to 3.49% in 2019[17]. - The company reported a total profit of 2,736.66 million yuan for the reporting period[36]. - The company reported a net profit of CNY 24,367,910.32 for the year 2020, but the actual distributable profit for shareholders was negative CNY 7,049,394.69 after offsetting previous losses[96]. Revenue Sources - The company's revenue from optical fiber and related products reached 346.59 million yuan, accounting for 71.45% of total revenue, representing a 30.15% increase compared to the previous year[32]. - The company's communication engineering and system integration business generated revenue of 138.51 million yuan, accounting for 28.55% of total revenue, down 17.53% year-over-year[35]. - The company's domestic revenue reached RMB 450,922,902.21, which is 92.95% of total revenue, showing a growth of 9.08% from the previous year[56]. - The company's international revenue grew significantly by 63.64%, reaching RMB 34,182,343.83, compared to RMB 20,889,026.54 in 2019[56]. - Revenue from optical fibers, cables, and related products was RMB 346,592,172.87, accounting for 71.45% of total revenue, with a year-on-year growth of 30.15%[55]. Operational Developments - The company has successfully developed new products including prefabricated cables and distributed fault diagnosis devices, contributing positively to sales performance[34]. - The company has upgraded five production lines to resolve bottlenecks in production processes, enhancing the capacity to meet customer demands for specialized optical cable products[29]. - The company has seen a notable increase in high-profit products in sectors such as industrial control, sensing, and automotive, contributing to overall revenue growth[34]. - The company has maintained a focus on customized production of OPGW and ADSS products, which are key to its sales strategy[34]. - The company has experienced significant growth in its online monitoring business, particularly in high-voltage transmission line monitoring and forest fire prevention[34]. Shareholder and Dividend Information - The company plans not to distribute cash dividends or issue bonus shares for the year[6]. - No cash dividends or capital reserve transfers to increase share capital were proposed for the years 2018, 2019, and 2020 due to negative distributable profits[95][96][97]. - The cumulative distributable profit for shareholders at the end of 2019 was negative CNY 31,417,305.01, and at the end of 2018, it was negative CNY 39,798,380.04[95][96]. Corporate Governance - The company has established a governance structure with a clear division of responsibilities among the shareholders' meeting, board of directors, supervisory board, and management, ensuring stable and healthy development[178]. - The independent directors' suggestions have been adopted by the company, contributing to the improvement of governance and operational decisions[190]. - The company adheres to the principles of fairness, openness, and justice in information disclosure, ensuring all shareholders receive timely and equal access to relevant information[183]. - The audit committee communicated with the annual audit firm regarding issues discovered during the audit process, ensuring transparency[193]. Employee and Management Information - The company employed a total of 603 staff, with 253 in production, 132 in technical roles, and 62 in sales[168]. - The total remuneration for directors and senior management during the reporting period amounted to CNY 3.38 million[167]. - The company has not granted any stock incentives to directors or senior management during the reporting period[167]. - The company actively participates in training organized by regulatory bodies and arranges professional skills training for its staff[174]. Environmental and Social Responsibility - The company emphasizes safety production and environmental protection as part of its operational philosophy[129]. - The company actively engages in social responsibility, including donations to charity, with a contribution of RMB 10,000 to the Chengdu Charity Association[130]. - The company has established an emergency response plan for environmental incidents to minimize risks from unexpected events[136]. - The company maintains a comprehensive environmental safety management system, with regular monitoring of pollutant emissions by qualified agencies[136].
汇源通信(000586) - 2020 Q3 - 季度财报
2020-10-28 16:00
Financial Performance - Operating revenue for the reporting period reached CNY 141,060,149.53, a year-on-year increase of 33.01%[7] - Net profit attributable to shareholders increased by 281.98% to CNY 7,272,570.58 compared to the same period last year[7] - Basic earnings per share rose by 280.00% to CNY 0.038 per share[7] - The company reported a net profit of CNY 8,697,862.49 for the year-to-date, reflecting a 40.71% increase compared to the same period last year[7] - Operating profit grew by 64.23% to 7,749,502.62 from 4,718,777.50, driven by increased revenue from high-margin optical cable and fiber services[17] - Net profit attributable to the parent company increased by 40.71% to 8,697,862.49 from 6,181,252.60, due to higher gross margin contributions[17] - Other income rose by 49.14% to 2,501,738.22 from 1,677,419.57, mainly from increased government subsidies[17] - The company reported a significant increase in sales expenses, which rose to CNY 24,640,754.61 from CNY 8,154,457.93 in the previous year, marking an increase of 202.73%[53] - The total operating income for the year-to-date period was 301,139,348.11, up from 277,581,639.01, showing a growth of approximately 8.5%[59] - The total operating costs for the year-to-date period were 292,999,478.52, compared to 277,017,110.14, indicating an increase of about 5.8%[59] Assets and Liabilities - Total assets increased by 3.19% to CNY 645,108,505.42 compared to the end of the previous year[7] - The company's current assets totaled CNY 560,309,804.72, compared to CNY 539,748,398.94 at the end of 2019, reflecting an increase of approximately 3.3%[47] - The company's total liabilities were CNY 560,000,000.00, with short-term borrowings remaining constant at CNY 76,000,000.00[48] - Total liabilities amounted to CNY 356,777,649.03, with current liabilities at CNY 337,094,029.88[72] - The total equity attributable to shareholders of the parent company was CNY 244,565,204.00, while total equity reached CNY 268,416,124.39[73] Cash Flow - The net cash flow from operating activities improved by 53.25%, reaching CNY 12,656,448.78[7] - The cash flow from operating activities showed a net outflow of -16,266,108.64, an improvement from -34,796,947.66 in the previous year[65] - The net cash flow from investment activities was -824,171.35 CNY, with total cash inflows of 37,526,349.86 CNY and outflows of 11,332,242.87 CNY[67] - The net cash flow from financing activities was -4,166,004.37 CNY, with total cash inflows of 109,000,000.00 CNY and outflows of 103,052,479.63 CNY[67] - The net increase in cash and cash equivalents was -21,256,284.36 CNY, resulting in an ending balance of 81,610,353.76 CNY[67] Shareholder Information - The total number of shareholders at the end of the reporting period was 21,310[11] - The largest shareholder, Guangzhou Huifu Qiji Investment Partnership, holds 20.68% of the shares[11] Legal and Compliance Issues - The court has frozen assets of Guangzhou Huifu Qiji Investment Partnership (Limited Partnership) valued at CNY 86,557,000 as of October 10, 2018[25] - A total of 29.6 million shares of Sichuan Huiyuan Optical Communication Co., Ltd. were frozen as of November 20, 2018[26] - The court has also frozen 40 million shares of the listed company under Huifu Qiji as of December 4, 2018[26] - The company is currently involved in a legal appeal concerning a civil judgment related to the controlling shareholder and other parties[29] - The company has not received any updates on the appeal process as of now[30] Research and Development - Research and development expenses increased by 76.07% to 17,940,063.62 from 10,189,339.38, reflecting higher R&D investments[17] - Research and development expenses for Q3 2020 were CNY 6,828,009.40, significantly higher than CNY 2,081,494.52 in Q3 2019, reflecting an increase of 228.36%[53] Tax and Expenses - Tax expenses increased by 109.70% to 2,230,732.71 from 1,063,772.46, resulting from higher total profit[17] - The company incurred a tax expense of 2,230,732.71 for the third quarter, compared to 1,063,772.46 in the previous year, representing an increase of approximately 109.8%[61] Other Financial Metrics - The company reported a credit impairment loss of -2,728,240.51 for the year-to-date period, compared to a gain of 1,435,333.72 in the previous year, indicating a significant change in credit quality[59] - The company reported a negative retained earnings of CNY -31,417,305.01, indicating accumulated losses[73] - The company adjusted its financial statements to comply with new revenue and leasing standards starting in 2020[69]
汇源通信(000586) - 2020 Q2 - 季度财报
2020-08-25 16:00
Financial Performance - The company's operating revenue for the first half of 2020 was ¥160,079,198.58, a decrease of 6.67% compared to ¥171,527,135.77 in the same period last year[17]. - The net profit attributable to shareholders was ¥1,425,291.91, down 66.68% from ¥4,277,320.37 in the previous year[17]. - The basic earnings per share decreased by 68.18%, from ¥0.022 to ¥0.007[17]. - The total assets at the end of the reporting period were ¥613,821,883.20, a decline of 1.82% from ¥625,193,773.42 at the end of the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 594,000 yuan[35]. - The company achieved operating revenue of 160.08 million yuan, a decrease of 6.67% compared to the same period last year[34]. - Operating costs amounted to 106.74 million yuan, representing a decline of 13.25% year-on-year[35]. - The company reported an operating profit of 667,500 yuan and a net profit attributable to shareholders of 1.43 million yuan[35]. - The company reported a net loss of CNY 29,992,013.10, an improvement from a loss of CNY 31,417,305.01 in the previous period[142]. - The total profit for the first half of 2020 was ¥713,276.08, a decrease of 79.3% compared to ¥3,451,267.72 in the same period of 2019[148]. Cash Flow and Liquidity - The net cash flow from operating activities improved by 10.32%, from -¥32,249,829.31 to -¥28,922,557.42[17]. - The company's cash flow from operating activities improved by 10.32%, with a net outflow of ¥28,922,557.42 compared to ¥32,249,829.31 in the same period last year[54]. - The net cash flow from investing activities was -1,451,637.93 CNY, a significant decline from a positive 22,926,879.24 CNY in the first half of 2019[153]. - The net cash flow from financing activities was -3,243,056.57 CNY, contrasting with a positive 12,432,100.53 CNY in the first half of 2019[153]. - The ending cash and cash equivalents balance decreased to 69,249,386.20 CNY from 83,361,228.68 CNY year-on-year, representing a decline of 17.0%[153]. - The company’s total liabilities increased, leading to a decrease in net cash flow, indicating potential liquidity challenges[154]. Assets and Liabilities - The company's total assets included cash and cash equivalents of ¥71,614,357.82, which accounted for 11.67% of total assets[62]. - The company's total liabilities decreased from CNY 356,777,649.03 to CNY 345,553,240.75, reflecting a decrease of approximately 3.3%[142]. - The total equity attributable to shareholders increased slightly from CNY 244,565,204.00 to CNY 245,990,495.91, an increase of about 0.6%[142]. - The total equity at the end of the reporting period is CNY 149,811,288.02, an increase from CNY 149,502,636.07 at the beginning of the year[170]. Business Operations - The company's main business includes the research, production, sales, and installation of optical cables, power system special optical cables, and communication equipment, among others[23]. - During the reporting period, the company's main business revenue from optical fibers, optical cables, and related products was CNY 124.31 million, accounting for 80.38% of total revenue, showing growth compared to the previous year[32]. - The company’s communication engineering and system integration revenue was CNY 30.35 million, accounting for 19.62% of total revenue, which represented a significant decline compared to the previous year[33]. - The company has been actively developing new customers while maintaining existing ones, focusing on customized production of OPGW and ADSS products[27]. - The company’s online monitoring business has seen improvements, particularly in forest fire monitoring, laying a foundation for future growth in this area[32]. Research and Development - Research and development expenses increased by 37.05% to ¥11,112,054.22, primarily due to the capitalization of R&D expenditures during the reporting period[54]. - The company has strengthened its R&D team, focusing on product innovation and improving production processes to enhance product quality[28]. - The company plans to increase investment in new product and technology development to enhance production processes and improve product quality[76]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The total number of shares remains at 193,440,000, with no changes in the shareholding structure[118]. - The largest shareholder, Guangzhou Huifu Qiji Investment Partnership, holds 40,000,000 shares, representing 20.68% of total shares, which are frozen[122]. - Total number of common shareholders at the end of the reporting period is 21,296[121]. Legal and Compliance Matters - The company has not received updates regarding the freezing of assets related to its controlling shareholder[38]. - The company is currently involved in legal proceedings concerning the freezing of shares held by its controlling shareholder[42]. - There are no significant litigation or arbitration matters during the reporting period[86]. - The company has not implemented any equity incentive plans or employee stock ownership plans during the reporting period[90]. Environmental and Safety Management - The company and its subsidiaries are not classified as key pollutant discharge units by environmental protection authorities[108]. - The company has established an emergency response plan for environmental incidents to minimize risks from unexpected events[111]. - The company maintains a sound environmental safety management system and regularly monitors pollutant emissions, all of which meet discharge standards[113]. General Financial Reporting - The half-year financial report has not been audited[84]. - The financial statements are prepared based on the going concern assumption, indicating no significant issues affecting the company's ability to continue operations[176]. - The company adheres to the enterprise accounting standards, ensuring the financial report reflects a true and complete picture of its financial status[179].
汇源通信(000586) - 2019 Q4 - 年度财报
2020-06-04 16:00
Financial Performance - The company's operating revenue for 2019 was approximately ¥434.27 million, representing a 1.77% increase compared to ¥426.71 million in 2018[17]. - The net profit attributable to shareholders for 2019 was approximately ¥8.38 million, a significant increase of 389.30% from a loss of ¥2.90 million in 2018[17]. - The basic earnings per share for 2019 was ¥0.0433, compared to a loss of ¥0.0150 per share in 2018, marking an increase of 388.67%[17]. - Total assets at the end of 2019 were approximately ¥625.19 million, reflecting a 4.30% increase from ¥599.39 million at the end of 2018[17]. - The net assets attributable to shareholders at the end of 2019 were approximately ¥244.57 million, up 4.18% from ¥234.75 million at the end of 2018[17]. - The company reported a total profit of CNY 605.85 million and a net profit attributable to shareholders of CNY 838.11 million[37]. - The company reported a net profit of -¥2,896,982.79 for 2018, leading to a cumulative distributable profit of -¥39,798,380.04, which also resulted in no dividends[93]. - The net profit attributable to shareholders for 2019 was ¥8,381,075.03, but the cumulative distributable profit remained negative at -¥31,417,305.01, resulting in no dividend distribution for the year[94]. Cash Flow and Investments - The net cash flow from operating activities for 2019 was negative at approximately ¥14.84 million, worsening by 274.98% compared to a negative cash flow of ¥3.96 million in 2018[17]. - Operating cash inflow totaled ¥481,091,430.58, an increase of 8.60% year-on-year, while cash outflow rose by 10.96% to ¥495,929,346.24[72]. - Investment activities generated a net cash inflow of ¥35,210,712.38, a 22.71% increase year-on-year[72]. - The company invested CNY 10 million in bank financial products during the reporting period[127]. Revenue Breakdown - The revenue from optical fiber and related products reached 26,630.71 million, accounting for 61.32% of total revenue, showing an increase compared to the previous year[35]. - The revenue from communication engineering and system integration business was CNY 16,796.27 million, accounting for 38.68% of total revenue, showing a decline compared to the previous year[36]. - Domestic revenue constituted 95.19% of total revenue at ¥413,380,777.57, reflecting a 2.12% increase year-on-year[57]. - Revenue from optical fibers, cables, and related products reached ¥266,307,072.00, accounting for 61.32% of total revenue, with a significant year-on-year increase of 31.38%[57]. Research and Development - The company has made significant investments in research and development, optimizing and improving technical solutions while developing a full range of anti-rodent and anti-bird optical cables[30]. - Research and development expenses increased by 56.75% to ¥22,886,401.68, representing 5.27% of operating revenue[70]. - The number of R&D personnel increased by 15.50% to 149, with their proportion in the workforce rising to 20.08%[70]. - The company successfully developed a series of new products, including anti-rodent and anti-bird optical cables, enhancing its product offerings[68]. Market Strategy and Operations - The company actively developed new products such as woven optical fibers and BF optical fibers, targeting high-profit markets in industrial control and sensing[35]. - The company continues to focus on customized production of OPGW and ADSS products, maintaining its strategy of "stabilizing optical cables, promoting online monitoring, and expanding forest fire prevention"[35]. - The company is actively pursuing first-class qualifications for communication engineering general contracting to undertake large-scale electronic projects[27]. - The company is transitioning towards highway engineering projects, leveraging the growth in highway construction to boost sales of communication pipeline and monitoring equipment[36]. Corporate Governance and Shareholding - The company has not reported any significant changes in its business, products, or services during the reporting period[64]. - The company has not disclosed any significant undisclosed information during the inquiry sessions[90]. - The company has not reported any significant changes in shareholding structure or major events during the reporting period[139]. - The company has no actual controller, with the controlling shareholder being Guangzhou Huifu Qiji Investment Partnership[151]. Social Responsibility and Compliance - The company actively undertakes social responsibilities, focusing on economic benefits while protecting the rights of creditors and employees[129]. - The company donated 50,000 RMB to improve infrastructure in impoverished villages and 10,000 RMB to the youth science association in Maerkang City[130]. - The company has maintained compliance with environmental standards, with all monitoring indicators meeting discharge requirements[138]. - The company emphasizes safety production and environmental protection as part of its operational philosophy[129]. Employee and Management Information - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 253.98 million[172]. - The chairman and general manager, He Bo, received a total remuneration of CNY 86.8 million[172]. - The company employed a total of 742 staff, with 384 in production, 149 in technical roles, and 43 in sales[173]. - The company has not granted any stock incentives to directors and senior management during the reporting period[173].
汇源通信(000586) - 2019 Q3 - 季度财报
2020-06-04 16:00
Financial Performance - Operating revenue for the reporting period was ¥106,054,503.24, representing a year-on-year increase of 25.06%[7] - Net profit attributable to shareholders was ¥1,903,932.23, a decrease of 30.65% compared to the same period last year[7] - The basic earnings per share for the reporting period was ¥0.010, down 28.57% year-on-year[7] - Operating profit reached ¥4,718,777.50, a significant improvement from a loss of ¥3,876,887.90 in the previous year, driven by higher revenue from cable and fiber optic businesses[17] - Net profit attributable to the parent company was ¥6,181,252.60, a turnaround from a loss of ¥1,886,139.11, reflecting improved gross margins and reduced investment losses[17] - The net profit for the third quarter was CNY 1,693,246.03, down from CNY 2,841,653.75 in the previous year, indicating a decline of about 40.3%[52] - The total profit for Q3 2019 was 5,522,145.32 CNY, compared to a loss of 3,762,130.72 CNY in the same period last year, indicating a significant improvement[58] - The company reported a total comprehensive income of 5,890,029.67 CNY for Q3 2019, compared to a loss of 3,960,954.93 CNY in Q3 2018[58] Assets and Liabilities - Total assets at the end of the reporting period reached ¥608,814,665.49, an increase of 1.57% compared to the end of the previous year[7] - The company's total assets as of September 30, 2019, amounted to ¥205,409,013.85, down from ¥213,834,158.83 at the end of 2018[47] - Total liabilities increased to ¥341,803,604.89 as of September 30, 2019, compared to ¥338,271,724.91 at the end of 2018[46] - The total liabilities of the company were CNY 527,087,765.16, with current liabilities including accounts payable of CNY 157,699,637.76, down from CNY 166,421,375.14, a decrease of approximately 5.0%[45] - The company reported a negative retained earnings of CNY -39,798,380.04, indicating accumulated losses[71] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥34,796,947.66, a decline of 20.61%[7] - Cash flow from investment activities was ¥26,194,106.99, a notable improvement from a negative cash flow of ¥3,586,039.31 in the previous year[17] - Cash flow from financing activities decreased by 67.88% to ¥5,947,520.37, primarily due to increased cash payments for repaying short-term bank loans[17] - The net cash flow from operating activities for the first nine months of 2019 was -34,796,947.66 CNY, worsening from -28,850,763.25 CNY in the previous year[63] - The company reported a net decrease in cash and cash equivalents of ¥2,655,320.30, compared to a decrease of ¥13,921,124.61 in the prior period[64] Shareholder Information - The total number of shareholders at the end of the reporting period was 28,285[11] - The largest shareholder, Guangzhou Huifu Qiji Investment Partnership, held 20.68% of the shares, totaling 40,000,000 shares[11] - The company did not engage in any repurchase transactions during the reporting period[12] Investments and Expenses - Financial expenses increased by 65.24% to ¥3,050,117.39, primarily due to an increase in short-term borrowings and interest expenses[16] - Tax expenses rose by 435.03% to ¥1,063,772.46, mainly due to an increase in taxable income during the reporting period[17] - Investment income was reported at ¥1,041,495.34, a significant recovery from a loss of ¥2,466,055.70, attributed to the sale of the loss-making joint venture Tai Zhong Cable[16] - Research and development expenses for Q3 2019 were ¥2,081,494.52, down 42.2% from ¥3,603,313.41 in Q3 2018[50] - The financial expenses for the first three quarters were CNY 3,050,117.39, an increase from CNY 1,845,821.29, representing a rise of about 65.5%[56] Legal and Regulatory Issues - The controlling shareholder's assets worth approximately ¥86,557,000 were frozen due to a court ruling related to equity disputes[23] - The company has faced public reprimands from the Shenzhen Stock Exchange for failing to disclose significant information regarding the tender offer[27][28] - The controlling shareholder's commitment to submit a restructuring plan has not been fulfilled within the promised timeframe, which expired on June 24, 2018[32] Miscellaneous - The company has not engaged in any securities investment during the reporting period[34] - The report for the third quarter was not audited, indicating preliminary financial data[77] - The company executed new financial instrument standards starting January 1, 2019, affecting accounting policies[71][76]