Financial Performance - Total revenue for the first half of 2022 was approximately CNY 554.05 million, a decrease of 3.31% compared to CNY 573.01 million in the same period of 2021[42] - Net profit attributable to shareholders of the listed company was CNY 855,638.15, down 97.52% from CNY 34.45 million in the previous year[42] - The net profit after deducting non-recurring gains and losses was a loss of CNY 14.08 million, a decline of 180.70% compared to a profit of CNY 17.44 million in 2021[42] - Net cash flow from operating activities was CNY 50.22 million, a decrease of 23.92% from CNY 66.00 million in the first half of 2021[42] - Basic and diluted earnings per share were both CNY 0.0011, down 97.48% from CNY 0.0436 in the previous year[42] - Operating profit for the first half of 2022 was RMB 622.01 thousand, a sharp decline from RMB 33.70 million in the same period of 2021[53] - The total comprehensive income for the first half of 2022 was RMB 1.25 million, compared to RMB 32.52 million in the same period of 2021[53] Assets and Liabilities - Total assets as of June 30, 2022, were approximately CNY 2.07 billion, a slight decrease of 0.06% from CNY 2.08 billion at the end of 2021[42] - Current assets totaled RMB 1,112,864,471.33, compared to RMB 1,100,647,643.42 at the end of 2021, reflecting a growth of approximately 1.98%[44] - Total liabilities decreased slightly to RMB 718,079,262.92 from RMB 720,624,684.62, a reduction of about 0.35%[46] - Non-current assets totaled RMB 961,298,363.42, down from RMB 974,811,213.76, representing a decrease of approximately 1.4%[44] Cash Flow - Operating cash flow for the first half of 2022 was RMB 50,216,520.98, a decrease of 24% compared to RMB 66,004,332.51 in the same period of 2021[60] - Total cash inflow from operating activities was RMB 403,520,677.84, down from RMB 418,507,361.51 year-on-year[60] - Cash flow from financing activities showed a net outflow of RMB 62,488,982.71, compared to a net inflow of RMB 4,359,556.00 in the same period last year[60] Equity and Profits - Net assets attributable to shareholders of the listed company increased by 0.06% to CNY 1.38 billion from CNY 1.38 billion at the end of 2021[42] - The company reported a total of RMB 269,197,741.99 in undistributed profits, up from RMB 268,342,103.84, indicating a growth of about 0.32%[46] - The company's undistributed profits increased to RMB 50,097,092.12 from RMB 44,959,740.08, marking an increase of about 11.5%[68] Research and Development - Research and development expenses rose to RMB 40.78 million, an increase of 9.0% from RMB 37.41 million in the first half of 2021[53] Accounting Policies - The company adheres to the accounting standards and policies that accurately reflect its financial status and operational results[79] - Financial assets are classified into three categories upon initial recognition: (1) measured at amortized cost; (2) measured at fair value with changes recognized in other comprehensive income; (3) measured at fair value with changes recognized in profit or loss[92] - The company recognizes financial assets or liabilities when it becomes a party to the financial instrument contract, measuring them at fair value upon initial recognition[93] Revenue Recognition - Revenue recognition principles require the company to assess contracts at the start date, identifying performance obligations and determining whether they are fulfilled over time or at a point in time[187] - The company recognizes revenue for sales of automotive steering gears and parts at a point in time when products are delivered and accepted by customers, with payment received or evidence of collection obtained[192] Government Grants - Government grants are recognized when the company can meet the conditions attached to the grants and is able to receive them, measured at the amount received or receivable[193] - Government grants related to income are recognized as deferred income to compensate for future costs or losses, and are recorded in the profit or loss when the related costs are recognized[197] Impairment and Valuation - Long-term assets are tested for impairment annually, with goodwill and indefinite-life intangible assets undergoing impairment tests regardless of indications[173] - The company reported a significant impairment loss on non-current assets held for sale, which was recognized in the current period's profit and loss statement[141]
浙江世宝(01057) - 2022 - 中期财报