CRUN(002272)2024-08-29 11:19Financial Performance - The company's operating revenue for the first half of 2024 was ¥642,869,798.89, a decrease of 18.34% compared to ¥787,287,333.82 in the same period last year[11]. - The net profit attributable to shareholders was -¥56,596,558.61, representing a decline of 202.71% from -¥18,696,771.98 year-on-year[11]. - The net cash flow from operating activities was -¥119,103,155.11, a decrease of 209.01% compared to -¥38,543,365.47 in the previous year[11]. - The basic earnings per share were -¥0.1209, down 179.86% from -¥0.0432 in the same period last year[11]. - The company reported a significant increase in cash flow from financing activities, amounting to ¥263,250,038.41, up 14.01% from ¥230,909,528.25[36]. - The company reported a total comprehensive loss of CNY 54,438,446.08 for the first half of 2024, compared to a loss of CNY 18,354,334.74 in the previous year[127]. - The company recorded a total profit for the first half of 2024 was -12,661,137.77 CNY, slightly worse than -12,636,191.61 CNY in the same period of 2023, indicating a marginal decline in performance[129]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,464,053,252.16, an increase of 5.88% from ¥3,271,535,129.30 at the end of the previous year[11]. - The total liabilities slightly decreased to CNY 1,842,237,185.26 from CNY 1,846,964,749.15, a reduction of about 0.3%[121]. - The company's cash and cash equivalents increased to ¥409,435,207.56, representing 11.82% of total assets, up from 8.34% last year, primarily due to funds raised from issuing common stock[40]. - Accounts receivable stood at ¥1,068,885,664.70, accounting for 30.86% of total assets, a slight decrease of 0.67% from the previous year[40]. - Inventory rose to ¥544,049,939.00, making up 15.71% of total assets, an increase of 2.29% attributed to fulfilling customer orders and increased raw material input[40]. Research and Development - During the reporting period, the company implemented 22 technology R&D projects, concluding 8, and received 16 new patent authorizations, including 1 invention patent[30]. - Research and development investment decreased by 18.17% to ¥24,151,702.19 from ¥29,512,890.54 in the previous year[36]. - The company has a total of 257 technology patents, including 39 invention patents, enhancing its competitive edge in innovation[30]. - The company has allocated 50 million for R&D in the upcoming fiscal year, aiming to innovate and improve product offerings[90]. Market and Expansion - The company is actively expanding into overseas markets and offshore wind power, increasing marketing expenses compared to the same period last year[15]. - The company is focusing on expanding its international market and accelerating the development of liquid cooling, offshore wind power, and energy storage businesses[54]. - The company plans to expand its market presence by launching new products, targeting a 15% increase in market share by the end of 2024[90]. - The company is exploring potential mergers and acquisitions to strengthen its market position, with a focus on companies that complement its existing product lines[90]. Environmental and Social Responsibility - The company has no administrative penalties related to environmental issues during the reporting period[68]. - The company’s hazardous waste is stored in a standardized warehouse and disposed of by qualified third-party units[69]. - The company actively participates in social welfare and charity activities, aiming to create a harmonious social relationship[76]. - The company has established a monthly/quarterly environmental monitoring plan and strictly adheres to it[70]. Corporate Governance - The company emphasizes the protection of shareholder and creditor rights, adhering to legal regulations and improving corporate governance to ensure the legitimate rights of all stakeholders[74]. - Employee rights are safeguarded with a 100% labor contract signing rate and social insurance coverage, alongside a commitment to a safe and fair working environment[75]. - The company has not engaged in any significant related party transactions during the reporting period, including asset or equity acquisitions or sales[79][80]. Financial Management - The company has established a mechanism for accounts receivable management to mitigate the risk of bad debts due to longer payment cycles from clients[56]. - The company has made a provision for bad debts amounting to 17.26 million CNY based on prudence principles related to receivables from Sichuan Grain Trade[78]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[79]. Shareholder Information - The participation rate of investors in the 2024 first extraordinary general meeting was 29.29%[61]. - The company plans not to distribute cash dividends or issue bonus shares for the first half of 2024[62]. - The company completed the repurchase and cancellation of restricted shares in July 2023[65]. - The total number of ordinary shareholders at the end of the reporting period was 50,379[110]. Accounting and Compliance - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that financial statements accurately reflect its financial status and performance[154]. - The company has established specific accounting policies for revenue recognition and measurement, as well as for the provision for bad debts[153]. - The company’s financial statements are prepared in Renminbi (RMB) as the functional currency[157].