Financial Performance - For the six months ended June 30, 2019, the company reported revenue of RMB 1,154,612,000, a decrease of 26% compared to RMB 1,559,485,000 for the same period in 2018[2]. - Gross profit for the same period was RMB 153,561,000, down from RMB 201,838,000, reflecting a decline of approximately 24%[2]. - The net profit for the period was RMB 31,928,000, a decrease of 44.6% compared to RMB 57,620,000 in the previous year[2]. - Total comprehensive income for the period amounted to RMB 30,444,000, down from RMB 57,703,000, indicating a decline of about 47.3%[2]. - The company reported a basic earnings per share of RMB 0.025, down from RMB 0.045 in the previous year, a decrease of 44.4%[2]. - The company reported a pre-tax profit of RMB 39,383,000 for the six months ended June 30, 2019, a decrease of 48.8% from RMB 76,972,000 in the same period of 2018[14]. - The unaudited net income attributable to the company's owners was approximately RMB 31.93 million for the first half of 2019, a decrease of about 44.6% from RMB 57.62 million in the same period last year[116]. Revenue Breakdown - Gasoline engine revenue for the six months ended June 30, 2019, was RMB 570,653,000, a decrease of 40.5% compared to RMB 959,332,000 for the same period in 2018[34]. - Diesel engine revenue for the same period was RMB 234,064,000, down 23% from RMB 304,107,000 in 2018[34]. - Engine parts and service revenue increased to RMB 349,895,000, up 18.4% from RMB 296,046,000 in the previous year[34]. - The revenue from the engine business segment decreased by approximately 36.3%, from RMB 1.26344 billion in the first half of 2018 to RMB 804.72 million in the first half of 2019[110]. - The revenue from engine parts and services increased by approximately 18.2%, from RMB 296.05 million in the first half of 2018 to RMB 349.90 million in the first half of 2019[111]. Assets and Liabilities - The company's total assets as of June 30, 2019, were RMB 6,423,553,000, compared to RMB 7,175,874,000 at the end of 2018, representing a decrease of approximately 10.5%[5]. - Current liabilities decreased to RMB 2,421,586,000 from RMB 2,867,946,000, a reduction of about 15.5%[7]. - The company's cash and cash equivalents were RMB 157,626,000, down from RMB 223,950,000, reflecting a decline of approximately 29.6%[5]. - The total amount of trade receivables and notes receivable was RMB 403,259,000 as of June 30, 2019, compared to RMB 393,663,000 as of December 31, 2018[52]. - The balance of trade payables and notes payable totaled RMB 1,093,320,000, with trade payables alone amounting to RMB 713,412,000 as of June 30, 2019[66]. Cash Flow - The company's operating cash flow before working capital changes for the six months ended June 30, 2019, was RMB 234,143,000, a decrease of 10.7% compared to RMB 262,402,000 in the same period of 2018[14]. - The net cash used in operating activities for the six months ended June 30, 2019, was RMB 48,154,000, compared to a net cash inflow of RMB 644,258,000 in the same period of 2018, indicating a significant decline[14]. - The cash flow from investing activities showed a net inflow of RMB 189,587,000 for the six months ended June 30, 2019, compared to a net outflow of RMB 593,529,000 in the same period of 2018[16]. - The financing activities resulted in a net cash outflow of RMB 207,757,000 for the six months ended June 30, 2019, compared to a net inflow of RMB 1,430,000 in the same period of 2018[16]. Shareholder Information - Major shareholders include Huachen Investment Holding Co., Ltd. and Xin Hua Investment Holding Co., Ltd., each holding 400,000,000 shares, representing approximately 31.20% of the issued share capital as of June 30, 2019[137][142]. - The total number of issued shares as of June 30, 2019, is 1,282,211,794 shares, which serves as the basis for calculating the percentage holdings[145]. - Wu Xiaoan holds 8,320,041 shares (0.65%) and has trustee and controlled corporation interests in 33,993,385 shares (2.65%) of the company[143]. - Wang Yunxian holds 6,471,143 shares (0.50%) and also has trustee and controlled corporation interests in 33,993,385 shares (2.65%) of the company[144]. Employee and Operational Metrics - The company employed approximately 1,603 staff as of June 30, 2019, down from 2,042 staff a year earlier, with employee costs for the six months amounting to RMB 85.14 million[126]. - Engine sales volume decreased by approximately 38.7%, from about 118,500 units in the first half of 2018 to approximately 72,600 units in the first half of 2019[110]. - The Bx8 engine crankshaft production line saw continuous sales growth in the first half of 2019 compared to the same period in 2018[129]. Compliance and Governance - The company has adopted the corporate governance code as per the listing rules and has complied with all provisions during the six months ending June 30, 2019[153]. - All directors confirmed adherence to the standard code for securities trading during the same period[154]. - The audit committee, including independent non-executive directors, reviewed the accounting principles and discussed financial reporting matters for the six months ending June 30, 2019[155].
新晨动力(01148) - 2019 - 中期财报