JIT(SZ:003029)2024-08-09 10:41Financial Performance - The company's operating revenue for the first half of 2024 was ¥216,880,189.18, a decrease of 17.20% compared to ¥261,930,750.26 in the same period last year[9]. - The net profit attributable to shareholders was -¥31,187,775.10, showing an improvement of 2.99% from -¥32,148,299.64 year-on-year[9]. - The net cash flow from operating activities improved by 38.00%, reaching -¥105,646,056.33 compared to -¥170,407,842.61 in the previous year[9]. - The total assets at the end of the reporting period were ¥1,721,394,294.76, down 8.01% from ¥1,871,299,347.99 at the end of the previous year[9]. - The company's operating revenue for the current period is ¥216,880,189.18, a decrease of 17.20% compared to ¥261,930,750.26 in the same period last year[35]. - Operating costs decreased by 18.71% to ¥93,455,884.19 from ¥114,970,870.87, primarily due to reduced revenue from cybersecurity products and services[35]. - The gross profit margin for the information security industry was 56.91%, with a slight increase of 0.81% year-on-year[39]. - Revenue from cybersecurity products was ¥112,817,238.26, accounting for 52.02% of total revenue, down 29.94% year-on-year[36]. - The company reported a significant increase in net cash flow from investment activities, improving by 80.45% to -¥64,463,449.18 from -¥329,789,864.43[35]. - The company reported a total profit for the first half of 2024 was a loss of CNY 27,242,445.74, compared to a loss of CNY 24,133,529.07 in the first half of 2023[127]. Shareholder and Capital Management - The company reported a plan not to distribute cash dividends or issue bonus shares for the fiscal year 2024[1]. - The company has approved the repurchase of 2,295,200 restricted shares, accounting for 1.1715% of the total share capital prior to the repurchase[68]. - The company has committed to not reducing its shareholdings during the specified commitment period, which lasts until June 25, 2024[80]. - The company has pledged to adhere to the latest regulations from the China Securities Regulatory Commission regarding compensation measures for diluted returns[79]. - The company plans to issue up to 11,439,127 shares to specific investors, raising a total of approximately RMB 179.8 million[106]. - The company has a three-year lock-up period for shares acquired through non-public offerings, ensuring long-term commitment from its stakeholders[79]. - The company reported a total of 867.64 thousand yuan in related party transactions during the reporting period, which is within the approved limit of 2,860 thousand yuan[86]. - The company has a repurchase account holding 5,219,800 shares as of the reporting period end[112]. - The company’s major shareholders have entered into a concerted action agreement, effective for 36 months from the completion of the non-public issuance[112]. Risk Factors - The company is facing potential risks related to industry policies, technological innovation, product upgrades, and seasonal sales[1]. - The company faces risks related to industry policy changes, which could impact product reviews, management policies, and tax incentives[59]. - The company is exposed to technology innovation and product upgrade risks due to rapid advancements in cloud computing, big data, and artificial intelligence, which may affect future competitiveness[60]. - The company's product sales exhibit significant seasonal fluctuations, with over 60% of annual sales typically occurring in the second half of the year[61]. Corporate Governance and Compliance - The financial report is guaranteed to be true, accurate, and complete by the company's management, including the responsible person and accounting head[1]. - The company has committed to ensuring that its initial public offering (IPO) prospectus does not contain any false statements or misleading information, taking legal responsibility for the accuracy and completeness of the information provided[75]. - The company has established a compensation mechanism for investors suffering losses due to false statements in the IPO prospectus, including options for mediation and establishing a compensation fund[75]. - The company has not experienced any changes in its board of directors or senior management during the reporting period[65]. - The company has not reported any environmental penalties during the reporting period[69]. - The company actively engages in social responsibility initiatives, contributing to employee development and community welfare[70]. Technological Development - The company emphasizes the importance of digital certificates and public key infrastructure (PKI) in its operations[4]. - The company is involved in the development of post-quantum cryptography (PQC) to enhance security against quantum computing threats[4]. - The company is focusing on network security, data technology, and trusted applications, with significant investments in these areas to support business transformation[15]. - The company has developed a range of products in the network security field, including password modules based on domestic chips and solutions for IoT security[16]. - The company is advancing its data security offerings, introducing a smart data security management system that includes intelligent classification and monitoring of data security flows[23]. - The company has introduced new features for its "Digital Brain" product, including AI assistants and intelligent OCR recognition, while also establishing new channels targeting SMEs and individuals[24]. Financial Position and Assets - Cash and cash equivalents at the end of the reporting period amounted to ¥458,226,985.68, representing 26.62% of total assets, a decrease of 10.65% from the previous year due to reduced marketing collections and payments for fixed assets and share repurchases[43]. - Accounts receivable increased to ¥240,433,721.80, accounting for 13.97% of total assets, up by 2.65% compared to the previous year[43]. - Fixed assets reached ¥215,109,715.14, making up 12.50% of total assets, with an increase of 11.37% attributed to the transfer of construction in progress[44]. - The total investment during the reporting period was ¥34,632,530.66, a decrease of 26.38% compared to ¥47,039,961.00 in the same period last year[46]. - The company reported a decrease in contract liabilities to ¥129,467,810.32, which is 7.52% of total liabilities, down by 2.31% from the previous year[44]. Research and Development - Research and development expenses decreased by 14.96% to ¥49,275,378.38, reflecting a focus on core business R&D[35]. - The company emphasizes a strategy of "deepening core technology and expanding application areas," with three R&D centers and collaborations with prestigious universities and institutions to enhance its technological competitiveness[27]. Market Strategy - The company has established a market strategy focusing on "industry main, regional main, and channel-based," achieving breakthroughs in digital government, digital economy, smart healthcare, and education sectors[30]. - The company has a strong customer base, including over 40 central government agencies and ministries, ensuring a solid foundation for its brand growth[30]. - The company has participated in over 3,000 major information security projects, providing security solutions for significant national projects, including the "Golden Shield Project" and manned spaceflight initiatives[28]. Financial Reporting and Accounting - The company adheres to the Chinese accounting standards, ensuring that financial reports accurately reflect its financial status and operational results[150]. - The company prepares consolidated financial statements based on its own and subsidiaries' financial reports[161]. - The company recognizes expected credit loss provisions at each balance sheet date, impacting the financial assets' carrying value and reflecting changes in credit risk[188].