万里股份(600847) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was ¥268,126,677.83, representing a 0.44% increase compared to the same period last year[13]. - The net profit attributable to shareholders of the listed company was -¥12,923,821.21, a decline from -¥10,010,318.62 in the previous year[13]. - The net cash flow from operating activities was -¥29,929,379.85, an improvement from -¥42,356,942.50 in the same period last year[13]. - The total assets at the end of the reporting period were ¥701,897,847.99, down 2.44% from the previous year-end[13]. - The net assets attributable to shareholders of the listed company decreased by 1.95% to ¥650,321,340.00 compared to the previous year-end[13]. - The basic earnings per share for the reporting period was -¥0.08, consistent with -¥0.07 from the previous year[13]. - The weighted average return on net assets was -1.97%, a decrease of 0.51 percentage points from the previous year[13]. - The company reported a net loss of CNY 12,923,821.21, which is a larger loss compared to the previous year's loss of CNY 10,010,318.62[70]. - The total comprehensive income for the first half of 2024 was RMB -1,662,413.64, compared to RMB -2,692,165.65 in the same period of 2023[73]. Revenue and Costs - Operating costs rose to ¥249,024,391.59, reflecting a 2.89% increase from ¥242,031,416.28 year-on-year[22]. - The gross profit margin decreased due to rising raw material costs, impacting the overall profitability[19]. - The total operating costs increased to CNY 280,401,885.00 from CNY 276,195,707.36, reflecting a rise of about 1.5% year-over-year[68]. - The main business revenue from lead-acid batteries is 260,215,900.31 RMB, slightly down from 263,629,052.98 RMB in the previous period, reflecting a decrease of approximately 1.6%[189]. Cash Flow and Liquidity - Cash and cash equivalents decreased by 47.00% to ¥34,736,500.94 from ¥65,539,372.72 in the previous year[24]. - The net cash flow from operating activities improved to -¥29,929,379.85 from -¥42,356,942.50 year-on-year[22]. - The company's cash and cash equivalents at the end of the period totaled CNY 34,736,500.94, down from CNY 65,539,372.72 at the beginning of the period[134]. - The total cash outflow from operating activities was RMB 275,229,093.11, slightly higher than RMB 272,439,421.60 in the previous year[75]. Expenses and Cost Management - Sales expenses decreased significantly by 22.41% to ¥7,902,389.96 from ¥10,184,757.19 in the previous year[22]. - Management expenses also saw a reduction of 12.64%, amounting to ¥8,921,425.65 compared to ¥10,212,177.53 last year[22]. - Research and development expenses decreased by 28.96% to ¥573,768.51 from ¥807,725.52 in the previous year[22]. - The company reported a total investment loss of CNY -14,285.71 from the disposal of receivables[200]. Environmental Compliance - The wastewater treatment facilities are equipped with real-time monitoring instruments to ensure compliance with discharge standards[33]. - The company has established a comprehensive wastewater management system to separate and treat different types of wastewater[33]. - The company has established a hazardous waste storage area that complies with the "Pollution Control Standards for Hazardous Waste Storage" (GB 18597-2001) and is managed by designated personnel[36]. - The company has implemented measures to reduce environmental risks, including an emergency response plan for environmental incidents[45]. Shareholder and Corporate Governance - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital for the reporting period[2]. - There were no significant risks or non-operating fund occupation by controlling shareholders reported[2]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[51]. - The company has maintained a good integrity status, with no significant debts or court judgments unfulfilled[52]. Investments and Arbitration - The company has initiated arbitration regarding an investment loss of CNY 12,711,000, with a recent ruling requiring payment of CNY 127,110,000 from the involved parties[20]. - The company reported an investment loss of RMB 127.11 million due to the transfer of shares in Terui Battery[52]. - The arbitration ruling requires Liu Xicheng and Qiu Xiaowei to jointly pay the company RMB 127.11 million for investment losses[52]. Accounts Receivable and Bad Debts - The accounts receivable at the end of the period amounted to CNY 145,292,812.64, an increase from CNY 107,926,588.71 at the beginning of the period[139]. - The company reported a bad debt provision of CNY 39,824,853.83, which represents 27.41% of the total accounts receivable[141]. - The provision rates for accounts receivable aged over five years is 100%, indicating a complete write-off expectation for these amounts[143]. Inventory Management - Inventory rose by 8.09% to ¥148,738,948.31 compared to ¥137,611,025.00 in the previous year[24]. - The inventory balance at the end of the period was 140,172,512.33 RMB, with a provision for inventory depreciation of 3,267,818.75 RMB[160]. - The company reported a decrease in the provision for inventory depreciation from the previous period, indicating improved inventory management[160]. Financial Position and Equity - The total equity attributable to shareholders decreased from ¥663,245,161.21 to ¥650,321,340.00, a decline of about 1.9%[65]. - The company's total equity stood at CNY 717,953,773.55, slightly down from CNY 719,616,187.19 year-over-year[67]. - The total unallocated profit at the end of the period is -342,720,325.96 RMB, compared to -329,796,504.75 RMB at the beginning of the period, reflecting a slight decline[188]. Accounting Policies and Practices - The company adheres to specific accounting policies for financial instruments impairment, fixed assets depreciation, and revenue recognition[89]. - The company recognizes revenue for lead-acid battery sales at the point when the buyer receives the goods or when the company has the right to collect payment, indicating a clear point of revenue recognition[124]. - The company applies simplified accounting for short-term leases and low-value asset leases, recognizing lease payments as costs in the period incurred[129].