Bossco(300422)

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博世科(300422) - 2016 Q2 - 季度财报
2016-08-26 16:00
Fundraising and Financial Strategy - The company plans to issue up to 25 million shares in a private placement to raise no more than 550 million yuan for PPP project construction and to supplement working capital [7]. - The private placement has been approved by the China Securities Regulatory Commission on July 8, 2016, pending receipt of formal approval documents [8]. - The company plans to raise funds through a non-public stock issuance to support PPP project construction and supplement working capital, which may face uncertainties due to the evolving regulatory environment [27]. - The company has initiated a non-public offering of A-shares to raise up to ¥550 million, which will be used for two PPP projects and to supplement working capital, enhancing its asset-liability structure and profitability [48]. - The company has approved a guarantee limit of CNY 500 million for its subsidiaries for operational financing needs [121]. Financial Performance - Total operating revenue for the reporting period reached ¥281,674,346.46, an increase of 26.01% compared to ¥223,541,744.92 in the same period last year [19]. - Net profit attributable to ordinary shareholders was ¥20,690,254.25, up 4.24% from ¥19,848,158.62 year-on-year [20]. - Net profit attributable to ordinary shareholders after deducting non-recurring gains and losses decreased by 12.40% to ¥15,903,604.80 from ¥18,154,295.87 [20]. - Basic earnings per share dropped by 54.29% to ¥0.16 from ¥0.35 [20]. - The company's comprehensive gross profit margins for the years 2013, 2014, 2015, and the first half of 2016 were 35.90%, 33.39%, 29.11%, and 29.65% respectively, indicating a declining trend in profitability [25]. - The company reported a net profit of 100 million RMB for the first half of 2016, representing a year-on-year increase of 20% [128]. - Total revenue for the first half of 2016 reached 500 million RMB, up 15% compared to the same period last year [128]. Operational Efficiency and Cash Flow - Cash flow from operating activities improved to -¥56,838,460.95, a 9.40% increase compared to -¥62,738,649.11 in the previous year [20]. - The net cash flow from operating activities was -¥56,838,460.95, an improvement from -¥62,738,649.11 in the previous period [171]. - The company's cash flow from financing activities increased by 89.70% to approximately ¥205.82 million in the first half of 2016, primarily due to bank borrowings [51]. - The net cash flow from financing activities was 48,991,909.98 CNY, a decrease from 89,725,935.30 CNY in the previous period, suggesting reduced financing activities [174]. Corporate Governance and Compliance - The board of directors and supervisory board members have all attended the meeting to review the report, ensuring corporate governance compliance [4]. - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, clarifying that these do not constitute substantial commitments to investors [5]. - The company has confirmed that all commitments to minority shareholders are being fulfilled on time [131]. - The company has undertaken measures to ensure compliance with legal regulations regarding shareholder actions and control, with commitments made in May 2014 [130]. Environmental Commitment and Technology Development - The company has a focus on environmental technology, particularly in high-concentration organic wastewater treatment and heavy metal pollution control [12]. - The company is committed to clean production and pollution prevention, aligning with national environmental policies [12]. - The company’s core business includes advanced wastewater treatment technologies, which are critical for sustainable environmental practices [12]. - The company has developed a patented neutral leaching agent that simplifies the treatment of leachate while maintaining soil properties [41]. - The company has successfully implemented various technologies for soil remediation and ecological restoration, achieving positive results in multiple regions [45]. - The company is actively involved in several PPP projects, with significant investments and progress reported in ongoing construction [60]. Research and Development - The company is focusing on enhancing its R&D capabilities and optimizing its service offerings to improve profitability and risk resilience in a competitive market [25]. - The company’s R&D investment increased by 86.68% to ¥11.86 million in the first half of 2016, up from ¥6.35 million in the same period of 2015, reflecting a stronger focus on new product development [51]. - The company has developed an energy-saving and environmentally friendly sodium chlorate preparation technology, which allows for closed-loop wastewater recycling, contributing to energy savings and environmental protection [47]. - The company has developed the ACM biological reactor for rural sewage treatment, which has been applied in multiple projects with stable effluent quality [73]. Market Expansion and Strategic Partnerships - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2018 [128]. - The company is exploring potential acquisition opportunities to enhance its competitive position in the market [128]. - The company is actively pursuing PPP projects and third-party governance services to enhance its environmental service offerings [88]. - The company has established partnerships with internationally renowned environmental enterprises to optimize oxidation processes for organic pollution remediation [74]. Shareholder Information and Equity Structure - The company reported a total share capital of 127,285,000 shares as of the last trading day before disclosure [20]. - The total number of shareholders at the end of the reporting period is 11,159 [143]. - Wang Shuangfei holds 23.78% of the shares, totaling 30,266,100 shares, with 7,000,000 shares pledged [143]. - The total number of restricted shares at the end of the period is 57,971,100 shares, with 38,313,900 shares released during the reporting period [141]. Asset Management and Financial Health - Total assets increased by 31.76% to ¥1,372,999,691.52 from ¥1,042,039,375.55 at the end of the previous year [20]. - The company's asset-liability ratios were 59.81%, 65.67%, 64.58%, and 70.16% at the end of 2013, 2014, 2015, and the first half of 2016, indicating a rising trend in financial leverage [30]. - The company’s long-term receivables increased by 416.63% to ¥32.44 million as of June 30, 2016, compared to ¥6.28 million at the end of 2015, indicating successful project revenue recognition [54]. - The total liabilities amounted to CNY 1,072,677,442.41, indicating a significant increase from the previous period [156].
博世科(300422) - 2016 Q1 - 季度财报
2016-04-26 16:00
Financial Performance - Total revenue for Q1 2016 was CNY 102,144,169, representing a 30.54% increase compared to CNY 78,246,134 in the same period last year[8]. - Net profit attributable to shareholders was CNY 4,333,745, a 2.86% increase from CNY 4,213,416 in the previous year[8]. - Basic earnings per share decreased by 25% to CNY 0.03 from CNY 0.04 in the same period last year[8]. - Operating revenue for Q1 2016 was ¥102,144,169.00, a 30.54% increase compared to ¥78,246,134.51 in Q1 2015, driven by more completed environmental projects[27]. - Operating costs increased by 33.95% to ¥71,334,521.77, reflecting higher project costs[27]. - The company achieved operating revenue of 102,144,169.00, a year-on-year increase of 30.54% due to the completion of environmental projects[30]. - The company reported a significant increase in government subsidies, with non-operating income rising to 2,212,357.46, a 4066.40% increase[30]. - The company reported a net profit attributable to shareholders of the parent company of CNY 4,333,745.01, slightly up from CNY 4,213,416.40, representing a growth of 2.9%[77]. Cash Flow and Liquidity - The net cash flow from operating activities improved by 71.35%, reaching CNY -16,849,558 compared to CNY -58,812,866 in the previous year[8]. - Cash and cash equivalents decreased by 36.26% to ¥109,111,750.35 from ¥171,187,606.00 due to cash payments[26]. - Operating cash flow net amount was -CNY 16,849,558.46, an improvement from -CNY 58,812,866.78 in the previous period[83]. - The company received CNY 95,768,657.18 from sales of goods and services, a substantial increase from CNY 58,483,681.98 in the previous period[82]. - The total cash and cash equivalents at the end of the period were 32,870,397.49 CNY, down from 140,452,373.77 CNY at the beginning of the period[87]. Assets and Liabilities - The company's total assets increased by 1.24% to CNY 1,054,938,569.47 from CNY 1,042,039,375.55 at the end of the previous year[8]. - The company's total current liabilities decreased from RMB 646.25 million to RMB 632.11 million[69]. - The company's total liabilities decreased to CNY 508,094,054.51 from CNY 536,697,350.31, a decrease of 5.3%[74]. - The company's cash and cash equivalents decreased from RMB 171.19 million at the beginning of the period to RMB 109.11 million by the end of the reporting period[68]. Shareholder Information - The top shareholder, Wang Shuangfei, holds 23.78% of the shares, with a total of 30,266,100 shares pledged[20]. - The company has a total of 10,876 common shareholders as of the report date[20]. - The company reported a lock-up period for shareholders of 36 months from the date of listing on the stock exchange[47]. - Shareholders are committed to not transferring or entrusting their shares during the lock-up period, ensuring stability in shareholding[48]. Risks and Challenges - The company faces risks from intensified market competition, with gross profit margins decreasing from 35.90% in 2013 to 30.16% in Q1 2016[11]. - The company faces potential risks in production organization and fund operation management due to seasonal revenue fluctuations[18]. - The company has a significant demand for working capital due to the long execution cycles of its projects, which may lead to risks of insufficient working capital in the future[15]. Investment and Development - The company plans to raise funds through a non-public offering for PPP project construction, which may involve uncertainties related to policy and market conditions[12]. - The company is focusing on expanding its services in municipal areas and exploring BOT, PPP, and third-party governance models[39]. - The company is committed to maintaining its competitive advantage in technology R&D and engineering implementation[40]. - The company is increasing R&D investment in areas such as heavy metal pollution treatment and urban black-odor water body governance[40]. Future Outlook - The company provided a future outlook projecting a revenue growth of 25% for the next quarter, driven by new product launches and market expansion strategies[46]. - The company has set a performance guidance of 1.8 billion CNY for Q2 2016, indicating a strong growth trajectory[46]. - New product lines are expected to contribute an additional 200 million CNY in revenue by the end of 2016[46].
博世科(300422) - 2015 Q4 - 年度财报
2016-03-16 16:00
Financial Performance - The company's gross profit margins for the years 2013, 2014, and 2015 were 35.90%, 33.39%, and 29.11% respectively, indicating a declining trend in profitability [6]. - The company's operating revenue for 2015 was CNY 504,673,304.37, representing an increase of 80.04% compared to CNY 280,314,215.27 in 2014 [24]. - The net profit attributable to shareholders for 2015 was CNY 42,991,961.20, a growth of 37.52% from CNY 31,262,281.28 in 2014 [24]. - The company's total assets at the end of 2015 reached CNY 1,042,039,375.55, marking a 74.94% increase from CNY 595,669,703.37 at the end of 2014 [24]. - The company's operating profit increased by 30.63% to ¥41,757,669.37, while net profit attributable to shareholders rose by 37.52% to ¥42,991,961.20 [61]. - The company reported a significant increase in other receivables, which rose by 262.92% to CNY 48,960,122.79, mainly due to new project performance guarantees [51]. - The company achieved a 91.61% increase in operating costs, totaling CNY 357,773,153.94, up from CNY 186,723,981.62 in the previous year [53]. - The company reported a net cash flow from operating activities of -CNY 74,889,171.28, a decrease of 12,818.75% compared to the previous year [89]. Assets and Liabilities - As of the end of 2015, the company's net accounts receivable were 380.25 million RMB, and long-term receivables were 35.46 million RMB, together accounting for 39.89% of total assets [11]. - The company's asset-liability ratios at the end of 2013, 2014, and 2015 were 59.81%, 65.67%, and 64.58% respectively, indicating a high level of financial leverage [10]. - The total liabilities increased significantly, with short-term borrowings rising by 45.66% to CNY 319,000,000.00, reflecting increased bank loans [51]. - The company's fixed assets increased by 91.18% to CNY 70,496,742.24, primarily due to the completion of construction projects [51]. - The company's cash and cash equivalents increased by 2858.46% to ¥71,446,068.48, primarily due to funds raised from the company's IPO and bank loans [56]. Investment and Funding - The company plans to raise up to 550 million RMB through a private placement of up to 25 million shares to fund PPP project construction and supplement working capital [4]. - The company has actively pursued PPP (Public-Private Partnership) projects, successfully winning a PPP project for a water supply project in Sihong County with a contract value of 306.7 million RMB [46]. - The company intends to invest raised funds into the expansion of its environmental equipment manufacturing base, technology research and development center, and to repay bank loans [131]. - The company executed a capital reserve increase of 62,000,000 shares, doubling the total share capital from 62,000,000 to 124,000,000 shares [122]. Research and Development - The company has developed key technologies such as the Upflow Anaerobic Reactor (UMAR) for high-concentration organic wastewater treatment, which has been recognized as a national key new product [37]. - Research and development expenses increased by 106.89% to ¥16,005,012.54, reflecting the company's intensified efforts in new product development [56]. - The number of R&D personnel increased to 247, making up 40.36% of the total workforce [86]. - The company is focusing on expanding into new fields such as soil remediation, solid waste disposal, and flue gas treatment, aiming to transform into a comprehensive environmental service provider [47]. Market Position and Strategy - The company emphasizes the importance of maintaining competitive advantages in technology innovation and cost control to mitigate increasing market competition risks [6]. - The company is focused on expanding its market reach and enhancing its service offerings through strategic partnerships and technological advancements [17]. - The company aims to maintain its leading position in the industrial wastewater treatment sector while exploring new profit growth points [117]. - The company is committed to international market expansion, enhancing brand recognition and leveraging opportunities from the Belt and Road Initiative [114]. Shareholder and Dividend Policy - The company proposed a cash dividend of 0.60 RMB per 10 shares, based on a total share capital of 127,285,000 shares [2]. - The cash dividend for 2015 represented 17.76% of the net profit attributable to ordinary shareholders, which was RMB 42,991,961.20 [129]. - The total distributable profit for shareholders in 2015 was RMB 139,799,914.27, with cash dividends accounting for 100% of the profit distribution [124]. - The company emphasizes a proactive profit distribution policy to enhance shareholder returns and maintain stability and reasonableness in dividend payouts [131]. Compliance and Governance - The company has retained Tianzhi International Accounting Firm for auditing services, ensuring compliance and transparency in financial reporting [23]. - The management team is composed of highly educated individuals with overseas study backgrounds, contributing to the company's strategic direction and decision-making [49]. - The company is committed to fulfilling all public commitments made during its initial public offering, with a focus on protecting investor interests [132]. - The company has implemented strict measures for information disclosure in accordance with relevant regulations and market principles, including public bidding for normal business cooperation [136]. Environmental Commitment - The company emphasizes its commitment to clean production, particularly in the paper-making industry, utilizing the BSC-type chlorine dioxide preparation system for efficient bleaching processes [18]. - The company is actively involved in the development of advanced technologies for the treatment of difficult-to-degrade wastewater, utilizing the Upflow Heterogeneous Oxidation Tower (UHOFe) for effective pollutant removal [17]. - The company has developed an integrated technology system for heavy metal pollution treatment, achieving compliance with national control standards for heavy metal ions in wastewater [43]. - The company is focused on maintaining the legal rights and interests of minority shareholders, ensuring no harm to their interests from the controlling shareholders' actions [135].
博世科(300422) - 2015 Q3 - 季度财报
2015-10-25 16:00
Financial Performance - Total revenue for the quarter reached ¥75,846,247.42, representing a 541.81% increase year-over-year[11]. - Net profit attributable to shareholders was ¥5,470,261.49, up 179.54% from the same period last year[11]. - Basic earnings per share rose to ¥0.04, reflecting a 126.67% increase year-over-year[11]. - The company's operating revenue for the first three quarters of 2015 reached RMB 299,387,992.34, a significant increase of 134.32% compared to RMB 127,770,331.65 in the same period of 2014[23]. - The net profit attributable to ordinary shareholders for the same period was CNY 25,318,420.11, a significant increase of 689.18% compared to the previous year[38]. - Total operating revenue for Q3 2015 reached CNY 75,846,247.42, a significant increase from CNY 11,817,511.97 in the same period last year, representing a growth of approximately 540.5%[75]. - Net profit for Q3 2015 was CNY 5,368,397.34, compared to a net loss of CNY 6,877,615.60 in Q3 2014, indicating a turnaround in profitability[76]. Assets and Liabilities - Total assets increased to ¥816,170,556.09, a 37.02% increase compared to the previous year[11]. - The company's total assets increased significantly, with fixed assets rising by 71.28% to RMB 63,156,913.71, reflecting the completion of construction projects[21]. - The total liabilities rose to CNY 392,251,075.34, compared to CNY 338,254,677.49 at the beginning of the year, marking an increase of about 15.9%[73]. - The company's total equity attributable to shareholders reached CNY 350,584,632.03, up from CNY 204,486,211.92, indicating a growth of approximately 71.5%[70]. Cash Flow - The net cash flow from operating activities was negative at -¥93,072,678.15, a decline of 133.67% year-over-year[11]. - Cash inflows from operating activities reached CNY 339,554,715.58, up from CNY 150,789,711.43 in the previous period, reflecting a 125% increase[90]. - The net cash flow from financing activities was CNY 116,530,583.93, an increase from CNY 45,970,506.29 in the previous period[91]. - The company reported a significant increase in cash outflows for operating activities, totaling CNY 432,627,393.73, compared to CNY 190,621,269.84 in the previous period[90]. Shareholder Information - The total number of shareholders at the end of the reporting period was 8,123[15]. - The top shareholder, Wang Shuangfei, holds 24.41% of the shares, totaling 30,266,100 shares[16]. - The company has committed to maintaining stock price stability for three years post-IPO, with a plan to activate if the stock price falls below the latest audited net asset value for 20 consecutive trading days[53]. Research and Development - The company's research and development expenses increased by 46.92% to RMB 9,241,895.51, up from RMB 6,290,431.62, indicating a stronger focus on R&D projects[27]. - The company is focusing on research and development of composite passivators for soil heavy metal pollution remediation[33]. - The company has obtained 70 authorized patents, including 14 invention patents and 52 utility model patents[35]. Operational Challenges and Strategies - The company is facing risks related to project management due to rapid business expansion, which may lead to personnel shortages and schedule mismatches[43]. - The company is committed to enhancing its internal management and quality control systems to mitigate risks associated with project execution[43]. - The company aims to increase its talent pool in brand management, technology and product development, engineering design, project management, and market expansion to support its growth[44]. - The company plans to invest more resources in business expansion, technological innovation, talent allocation, and operational management to improve performance and reduce operational risks[48]. Investment and Fund Utilization - The total amount of raised funds is CNY 12,450 million, with CNY 477.86 million invested in the current quarter[57]. - Cumulative investment of raised funds reached CNY 11,785.46 million, representing 94.66% of the total raised[57]. - The expansion of the environmental equipment manufacturing base has achieved an investment progress of 84.51% with CNY 3,380.51 million utilized out of CNY 4,000 million committed[57]. - The technology research and development center construction has reached 90.99% completion with CNY 454.95 million invested out of CNY 500 million[57]. Compliance and Governance - The company is focused on compliance with legal regulations regarding shareholding and stock changes, ensuring transparency and integrity in its operations[53]. - The actual controllers have committed to not interfere with the company's normal operations, safeguarding the interests of minority shareholders[54]. - The commitment to not engage in competitive businesses directly or indirectly is aimed at protecting the company's interests[54].
博世科(300422) - 2015 Q1 - 季度财报
2015-04-21 16:00
Financial Performance - Total revenue for Q1 2015 reached ¥78,246,134.51, representing a 123.03% increase compared to ¥35,083,947.20 in the same period last year[7] - Net profit attributable to shareholders was ¥4,213,416.40, a significant increase of 175.53% from ¥1,529,226.40 year-on-year[7] - Basic earnings per share improved by 106.69% to ¥0.0680 from ¥0.0329 in the previous year[7] - Operating revenue reached 78,246,134.51 CNY, an increase of 123.03% compared to the same period last year, driven by more completed water pollution control projects[30] - Net profit for the period was 4,206,651.11 CNY, reflecting a growth of 175.08% year-on-year[30] - Total operating revenue for the first quarter reached CNY 78,246,134.51, compared to CNY 35,083,947.20 in the previous period, indicating a significant increase[73] - The total comprehensive income attributable to the parent company was CNY 4,213,416.40, compared to CNY 1,529,226.40 in the previous period, marking a substantial increase[78] Assets and Liabilities - The company's total assets increased by 28.08% to ¥762,929,022.34 from ¥595,669,703.37 at the end of the previous year[7] - Shareholders' equity attributable to the parent company rose by 62.94% to ¥333,199,628.32 from ¥204,486,211.92[7] - Total assets increased from CNY 595,669,703.37 to CNY 762,929,022.34, showing a growth of 27.9%[66] - The total liabilities rose to CNY 365,000,536.46 from CNY 338,254,677.49, indicating an increase of about 7.8%[71] - The equity attributable to shareholders of the parent company increased to CNY 322,235,682.21 from CNY 193,654,537.58, marking a growth of approximately 66.5%[71] Cash Flow - The net cash flow from operating activities was negative at -¥58,812,866.78, a decline of 115.05% compared to -¥27,347,933.30 last year[7] - Cash flow from operating activities showed a net outflow of 58.81 million yuan, an increase of 115.05% year-on-year, attributed to higher project payments and seasonal cash flow characteristics[34] - Cash flow from financing activities saw a net inflow of 151.84 million yuan, a significant increase of 3899.71% compared to the previous year, mainly from funds raised during the company's IPO[34] - Cash and cash equivalents increased to CNY 204,377,050.15 from CNY 102,397,311.51, representing a growth of 99.5%[65] - The ending balance of cash and cash equivalents increased to CNY 163,096,681.41, compared to CNY 37,261,895.53 at the end of the previous period[83] Expenses - Sales expenses increased by 1.59 million yuan, up 96.16%, primarily due to a 1% increase in after-sales expenses and higher costs related to market expansion[32] - Management expenses grew by 4.13 million yuan, a rise of 78.52%, driven by increased R&D efforts for new product development and higher employee compensation[32] - Financial expenses increased by 1.17 million yuan, up 41.21%, due to a rise in bank loan interest from increased borrowing[32] - Payments to employees increased to 10,466,020.26 CNY from 7,785,755.68 CNY, indicating higher labor costs[84] Risks and Challenges - The company faces risks related to insufficient working capital due to the long execution cycles of projects, which typically require around two years to complete[10] - The company is experiencing a seasonal revenue fluctuation, with the second half of the year historically accounting for a significant portion of total annual revenue[14] - The company reported an asset impairment loss of CNY 2,827,988.33, compared to a gain of CNY -27,043.32 in the previous period, indicating potential challenges in asset valuation[78] Strategic Initiatives - The company emphasizes the need for talent acquisition in various areas, including brand management and technical research, to support its rapid growth and market expansion[13] - The company is actively expanding into ASEAN markets and enhancing its environmental remediation capabilities, focusing on comprehensive solutions for pollution control[40] - The company applied for 1 new patent and received 4 new utility model patents, bringing the total to 62 patents, including 12 invention patents[36] Compliance and Governance - The company is currently fulfilling its commitment to ensure the accuracy and completeness of the prospectus as of May 20, 2014[45] - The actual controllers of the company have pledged not to transfer their shares for 36 months post-IPO, ensuring stability in shareholding[46] - The company has established a commitment to maintain the integrity of its financial disclosures and to compensate investors for any losses resulting from non-compliance[46] - The company is adhering to legal decision-making procedures for any potential related party transactions, ensuring transparency and compliance with regulations[53]