SG(600734)2024-08-28 09:57Financial Performance - Revenue for the first half of 2024 was RMB 33.33 million, a decrease of 64.12% compared to the same period last year[13] - Net profit attributable to shareholders of the listed company was RMB 51.33 million, an increase of 123.60% year-on-year[13] - Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was RMB -27.18 million, a decrease of 304.05% compared to the same period last year[13] - Net cash flow from operating activities was RMB -61.97 million, a decrease of 22.22% compared to the same period last year[13] - Basic earnings per share increased by 124.76% to 0.0236 yuan per share compared to the same period last year[15] - Diluted earnings per share also increased by 124.76% to 0.0236 yuan per share[15] - Weighted average return on equity (ROE) increased by 6.02 percentage points to 12.2812%[15] - Non-recurring gains and losses amounted to 78,508,029.44 yuan, primarily driven by non-current asset disposal gains of 80,704,112.60 yuan[16][17] - Revenue for the period decreased by 64.12% to RMB 33,328,709.73 compared to the same period last year[38] - Operating costs decreased by 62.90% to RMB 13,258,498.53 due to seasonal factors[38] - Investment income increased significantly by 5,934.80% to RMB 81,198,521.64, primarily due to the disposal of a subsidiary[38] - Net cash flow from investment activities increased by 3,160.64% to RMB 112,614,982.98, mainly due to the receipt of equity transfer proceeds[38] - Net profit for the first half of 2024 reached 51,326,472.43 yuan, a significant increase from 22,954,290.24 yuan in the same period of 2023[94] - Sales expenses increased to 2,915,449.91 yuan in the first half of 2024, up from 2,382,229.71 yuan in the same period of 2023[94] - R&D expenses decreased to 14,379,538.43 yuan in the first half of 2024, down from 18,172,821.68 yuan in the same period of 2023[94] - Interest income dropped to 7,379,542.40 yuan in the first half of 2024, compared to 9,399,010.83 yuan in the same period of 2023[94] - Investment income surged to 81,198,521.64 yuan in the first half of 2024, a sharp turnaround from a loss of 1,391,625.54 yuan in the same period of 2023[94] - Parent company's operating income for the first half of 2024 was 28,283,753.21 yuan, a decrease from 81,794,238.50 yuan in the same period of 2023[96] - Parent company's investment income for the first half of 2024 was 81,708,091.32 yuan, a significant improvement from a loss of 1,391,625.54 yuan in the same period of 2023[96] - Parent company's net profit for the first half of 2024 was 64,790,658.70 yuan, up from 27,677,194.38 yuan in the same period of 2023[97] - Total comprehensive income for the first half of 2024 reached RMB 64,790,658.70, a significant increase from RMB 27,677,194.38 in the same period of 2023[98] - Cash received from sales of goods and services in the first half of 2024 was RMB 50,689,034.19, down from RMB 83,829,428.54 in the same period of 2023[98] - Net cash flow from operating activities for the first half of 2024 was negative RMB 61,967,117.86, compared to negative RMB 50,703,320.42 in the same period of 2023[99] - Net cash flow from investing activities for the first half of 2024 was positive RMB 112,614,982.98, a significant improvement from negative RMB 3,679,463.41 in the same period of 2023[99] - Net cash flow from financing activities for the first half of 2024 was positive RMB 24,703,923.28, compared to negative RMB 10,520,301.20 in the same period of 2023[99] - The company's cash and cash equivalents at the end of the first half of 2024 stood at RMB 307,986,526.18, up from RMB 239,837,182.61 at the end of the same period in 2023[100] - Cash received from the disposal of subsidiaries and other business units in the first half of 2024 was RMB 115,148,490.48[99] - Cash paid for the purchase of goods and services in the first half of 2024 was RMB 60,512,263.83, down from RMB 79,583,435.11 in the same period of 2023[98] - Cash paid to and on behalf of employees in the first half of 2024 was RMB 28,750,560.12, up from RMB 25,801,006.89 in the same period of 2023[98] - Cash received from tax refunds in the first half of 2024 was RMB 187,996.93, up from RMB 98,144.27 in the same period of 2023[98] - Cash and cash equivalents increased by RMB 68,595,057.12, reaching a total of RMB 298,795,774.79 at the end of the period[101] - Net cash flow from financing activities was RMB 34,096,899.73, with total cash inflows of RMB 46,000,000.00 from borrowings[101] - The company's total owner's equity increased by RMB 51,326,470.15, driven by a comprehensive income of RMB 51,326,472.43[102] - Unappropriated profit improved by RMB 51,326,472.43, reducing the deficit to RMB 3,173,514,304.60[103] - Comprehensive income for the period contributed RMB 22,954,280.15 to owner's equity, with unappropriated profit increasing by RMB 22,954,290.24[104] - Total owner's equity at the end of the period is RMB 378,020,808.97[105] - Capital reserve decreased to RMB 1,419,737,962.01[105] - Undistributed profit stands at RMB -3,239,082,287.99[105] - Comprehensive income for the period is RMB 64,790,658.70[106] - Owner's equity at the beginning of the period was RMB 618,910,994.70[106] - Undistributed profit at the beginning of the period was RMB -3,134,856,331.71[106] - Owner's equity at the end of the period increased to RMB 683,701,653.40[106] - Capital reserve at the beginning of the period was RMB 1,557,007,738.65[106] - Undistributed profit at the end of the period improved to RMB -3,070,065,673.01[106] - Surplus reserve at the end of the period is RMB 19,062,040.02[105] - The company's total comprehensive income for the first half of 2024 increased by RMB 27,677,194.38, contributing to the total owner's equity of RMB 551,290,577.20[107] - The company's total owner's equity at the beginning of the period was RMB 523,613,382.82, with undistributed profits of RMB -3,230,153,943.59[107] - The company's capital reserve stands at RMB 1,557,007,738.65, with no changes during the reporting period[107] Assets and Liabilities - Total assets as of the end of the reporting period were RMB 885.26 million, an increase of 4.75% compared to the end of the previous year[14] - Net assets attributable to shareholders of the listed company were RMB 443.59 million, an increase of 13.08% compared to the end of the previous year[14] - The company's monetary funds increased by 32.00% to RMB 311,749,147.93, driven by the receipt of equity transfer proceeds and bank loans[40] - Prepayments increased by 202.74% to RMB 7,045,469.63 due to increased project prepayments[40] - Short-term borrowings increased by 39.41% to RMB 162,812,493.35 due to new bank loans[40] - Total restricted assets amounted to RMB 194,948,405.47, including frozen monetary funds and pledged receivables[41] - The company's investment in long-term equity resulted in a significant non-recurring profit of RMB 80,695,700, accounting for 173.82% of the total profit[40] - Invested RMB 563.99 million in Fujian Xinghan Intelligent Technology Co., Ltd., acquiring a 10% stake[44] - The fair value of financial assets increased by RMB 5,819.85, reaching RMB 2,255,781.88 at the end of the period[45] - Sold 100% equity of Fuzhou Zhisheng for RMB 116 million, generating a profit of RMB 80.6957 million, accounting for 173.82% of the company's total profit[47] - Zhongke Rongtong IoT Technology Wuxi Co., Ltd., a wholly-owned subsidiary, shifted its focus to big data business, resulting in a net loss of RMB 5,911,079.71[48] - Total assets increased to 885,258,153.18 RMB, up from 845,120,185.67 RMB at the end of 2023[87][89] - Current assets rose to 516,676,505.09 RMB, compared to 436,122,668.21 RMB at the end of 2023[87] - Cash and cash equivalents grew to 311,749,147.93 RMB, up from 236,178,492.80 RMB at the end of 2023[87] - Accounts receivable decreased to 65,083,781.91 RMB, down from 83,144,937.29 RMB at the end of 2023[87] - Short-term borrowings increased to 162,812,493.35 RMB, up from 116,784,198.07 RMB at the end of 2023[88] - Total liabilities decreased to 441,669,357.50 RMB, down from 452,857,860.14 RMB at the end of 2023[89] - Shareholders' equity improved to 443,588,795.68 RMB, up from 392,262,325.53 RMB at the end of 2023[89] - Development expenditure increased to 5,772,828.61 RMB, up from 5,324,411.71 RMB at the end of 2023[88] - Prepayments rose to 7,045,469.63 RMB, up from 2,327,236.13 RMB at the end of 2023[87] - Contract liabilities increased to 1,342,555.85 RMB, up from 793,144.68 RMB at the end of 2023[88] - Total assets increased to 832,822,162.48 RMB as of June 30, 2024, up from 770,259,059.05 RMB at the end of 2023[91] - Current assets rose to 630,430,668.26 RMB, compared to 545,109,712.69 RMB at the end of 2023[91] - Monetary funds grew to 299,528,942.58 RMB, up from 230,200,717.67 RMB at the end of 2023[90] - Accounts receivable decreased to 52,419,535.27 RMB, down from 64,665,464.94 RMB at the end of 2023[90] - Total liabilities decreased slightly to 149,120,509.08 RMB, compared to 151,348,064.35 RMB at the end of 2023[92] - Owner's equity increased to 683,701,653.40 RMB, up from 618,910,994.70 RMB at the end of 2023[92] - Short-term borrowings stood at 46,033,030.00 RMB as of June 30, 2024, compared to none at the end of 2023[91] - The company's cash and cash equivalents increased to RMB 311,749,147.93 as of June 30, 2024, up from RMB 236,178,492.80 at the beginning of the year, with restricted cash amounting to RMB 3,762,621.75[182] - Accounts receivable decreased to RMB 65,083,781.91 as of June 30, 2024, from RMB 83,144,937.29 at the beginning of the year, with a bad debt provision of RMB 72,392,365.17[185][187] - The company's accounts receivable aged over 3 years increased to RMB 64,860,967.26 as of June 30, 2024, from RMB 61,377,481.26 at the beginning of the year[184] - The company's accounts receivable aged 1 to 2 years increased to RMB 25,933,747.50 as of June 30, 2024, from RMB 22,698,855.77 at the beginning of the year[184] - The company's accounts receivable aged 2 to 3 years decreased to RMB 2,696,097.67 as of June 30, 2024, from RMB 12,018,268.41 at the beginning of the year[184] - The company's accounts receivable aged 1 year or less decreased to RMB 43,985,334.65 as of June 30, 2024, from RMB 61,129,595.71 at the beginning of the year[184] - The company's bad debt provision for accounts receivable increased to RMB 72,392,365.17 as of June 30, 2024, from RMB 74,079,263.86 at the beginning of the year[185] - The company's bad debt provision for accounts receivable aged over 3 years increased to RMB 53,478,183.70 as of June 30, 2024, from RMB 59,340,764.15 at the beginning of the year[185] - The company's bad debt provision for accounts receivable aged 1 to 2 years increased to RMB 25,933,747.50 as of June 30, 2024, from RMB 22,698,855.77 at the beginning of the year[185] - The company's bad debt provision for accounts receivable aged 2 to 3 years decreased to RMB 2,696,097.67 as of June 30, 2024, from RMB 12,018,268.41 at the beginning of the year[185] - Accounts receivable within 1 year amounted to 38,725,522.96 RMB, with a bad debt provision of 1,161,765.69 RMB, representing a provision ratio of 3.00%[189] - Accounts receivable aged 1 to 2 years totaled 16,506,420.00 RMB, with a bad debt provision of 1,650,642.00 RMB, reflecting a provision ratio of 10.00%[189] - The total accounts receivable amounted to 55,231,942.96 RMB, with a bad debt provision of 2,812,407.69 RMB, representing a provision ratio of 5.09%[189] - The top five accounts receivable balances aggregated to 67,541,643.87 RMB, accounting for 48.10% of the total accounts receivable and contract assets[191] - The unexpired warranty reserve had a book balance of 2,957,011.67 RMB, with a bad debt provision of 162,184.82 RMB, representing a provision ratio of 5.48%[192] - The bad debt provision for the unexpired warranty reserve increased by 115,740.76 RMB during the reporting period[194] - The total bad debt provision for accounts receivable and contract assets was 72,392,365.17 RMB, with a decrease of 79,862.73 RMB due to the exclusion of Fuzhou Zhisheng from the consolidation scope[190] - The bad debt provision for accounts receivable aged 5 years and above was 44,103,967.56 RMB, representing a provision ratio of 100.00%[189] - The bad debt provision for accounts receivable aged 3 to 4 years was 7,129,796.89 RMB, representing a provision ratio of 63.99%[189] - The bad debt provision for accounts receivable aged 4 to 5 years was 214,109.71 RMB, representing a provision ratio of 88.94%[189] - Prepayments within 1 year accounted for 82.97% of the total prepayments, amounting to 5,845,546.11 RMB[197] - The top five prepayment recipients accounted for 80.94% of the total prepayments, with the largest recipient at 2,740,160.38 RMB (38.89%)[198] - Other receivables increased to 8,284,781.82 RMB from 5,375,700.90 RMB at the beginning of the period[198] - Prepayments for 2 to 3 years increased to 957,218.27 RMB, representing 13.59% of the total prepayments[197] - Prepayments for 1 to 2 years decreased to 81,893.60 RMB, representing 1.16% of the total prepayments[197] - Prepayments for over 3 years increased to 160,811.65 RMB, representing 2.28% of the total prepayments[197] - The second-largest prepayment recipient accounted for 15.64% of the total prepayments, amounting to 1,101,886.80 RMB[198] - The third-largest prepayment recipient accounted for 10.71% of the total