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长城微光(08286) - 2019 - 中期财报
CCOECCOE(HK:08286)2019-08-14 22:58

Financial Performance - For the six months ended June 30, 2019, the company reported revenue of RMB 11,786,000, a decrease from RMB 24,752,000 in the same period of 2018, representing a decline of approximately 52.3%[14] - The gross profit for the same period was RMB 2,987,000, down from RMB 14,733,000 in 2018, indicating a significant drop of about 79.8%[14] - The company incurred a loss before tax of RMB 6,467,000 for the six months ended June 30, 2019, compared to a loss of RMB 2,900,000 in the same period of 2018, reflecting an increase in losses of approximately 123.6%[14] - The net loss attributable to owners of the company was RMB 6,466,000 for the six months ended June 30, 2019, compared to a loss of RMB 2,899,000 in 2018, marking an increase in losses of about 123.5%[14] - The basic and diluted loss per share for the six months ended June 30, 2019, was RMB (0.021), compared to RMB (0.009) in the same period of 2018, indicating a worsening of the loss per share by approximately 133.3%[14] - The company reported a total comprehensive loss of RMB (6,466,000) for the six months ended June 30, 2019, which includes a loss of RMB (600,000) from other comprehensive income[19] - The company reported a net cash outflow from operating activities of RMB (6,971,000) for the six months ended June 30, 2019, compared to RMB (2,606,000) for the same period in 2018, reflecting a worsening cash flow situation[21] - The company's net profit after tax for the six months ended June 30, 2019, was approximately RMB 605,000, compared to a net loss of RMB 6,467,000 for the same period in 2018[78] Financial Position - The company's current liabilities as of June 30, 2019, amounted to RMB 59,673,000, while total liabilities were RMB 37,311,000, indicating potential liquidity issues[6] - The company has outstanding bank and other borrowings of RMB 27,264,000 due within the next twelve months, raising concerns about its ability to continue as a going concern[7] - Total liabilities as of June 30, 2019, were RMB 95,158,000, compared to RMB 30,652,000 as of December 31, 2018, showing a significant increase of approximately 210.5%[17] - The total equity attributable to owners of the company was RMB (37,287,000) as of June 30, 2019, compared to RMB (38,864,000) at the end of 2018, indicating a slight improvement in equity position[19] - The company's cash and cash equivalents decreased to RMB 10,195,000 from RMB 20,749,000, a decline of approximately 50.9%[21] - As of June 30, 2019, the company's net current liabilities and net liabilities were approximately RMB 59,673,000 and RMB 37,311,000, respectively[65] - The debt-to-equity ratio as of June 30, 2019, was approximately 131%, down from 143% on December 31, 2018[86] Revenue and Sales - The company reported other income and gains of RMB 10,019,000 for the six months ended June 30, 2019, compared to RMB 605,000 in the same period of 2018, showing a substantial increase of approximately 1565.4%[14] - Revenue from external customers by region showed that China contributed RMB 11,754,000, while Hong Kong and other Asian countries contributed RMB 8,851,000, and Europe and Russia contributed RMB 4,147,000[40] - The revenue from fiber optic products manufacturing and sales accounted for 100% of total revenue, with the main products being fiber optic image converters (RMB 10,906,000, 44%) and fiber optic plates (RMB 3,679,000, 15%) for the first half of 2019[37] - The company's revenue for the six months ended June 30, 2019, was approximately RMB 24,752,000, representing an increase of about 110% compared to RMB 11,786,000 for the same period in 2018[75] - Sales of optical fiber inversion devices and microchannel plates increased by approximately RMB 7,606,000 and RMB 4,777,000, respectively[75] Operational Measures and Strategy - The company has not provided a clear outlook or guidance for future performance, indicating uncertainty in its operational strategy moving forward[6] - The new management team has initiated a comprehensive review of operations, production, and management since the fourth quarter of 2018[60] - The company plans to improve liquidity through measures such as issuing new shares and negotiating debt restructuring with creditors[24] - The company has implemented operational measures since Q4 2018, including improvements in image transmission fiber production processes, resulting in increased product qualification rates and gross margins[63] Shareholder Information - As of June 30, 2019, major shareholder Zhang Shaohui holds 82,200,000 shares, representing approximately 41.34% of the domestic shares and 26.61% of the total share capital[98] - Taiyuan Changcheng Optoelectronics Co., Ltd. holds 80,160,000 domestic shares, accounting for 40.31% of the domestic shares and 25.95% of the total share capital[98] - Liaoning Shuguang Industrial Group Co., Ltd. owns 34,000,000 domestic shares, which is 17.10% of the domestic shares and 11.01% of the total share capital[98] - The company’s major shareholders include individuals and entities with significant control over the shares, indicating a concentrated ownership structure[98] Compliance and Governance - The company has established an audit committee to review and supervise its financial reporting system, risk management, and internal control systems[111] - The company has complied with the corporate governance code as per GEM listing rules, with some exceptions regarding legal insurance arrangements for directors[112] - The company has adopted a standard code for securities trading by directors, ensuring compliance with GEM listing rules[114]