Financial Performance - The company reported revenue of RMB 5,947,000 for the six months ended June 30, 2021, a decrease of 0.4% compared to RMB 5,947,000 in the same period of 2020[6]. - Gross profit for the six months ended June 30, 2021, was RMB 906,000, down from RMB 1,684,000 in the same period of 2020, representing a decline of 46.0%[6]. - The company incurred a loss before tax of RMB 9,854,000 for the six months ended June 30, 2021, compared to a loss of RMB 11,151,000 in the same period of 2020, reflecting a 11.6% improvement[6]. - Total comprehensive loss for the six months ended June 30, 2021, was RMB 9,854,000, compared to RMB 11,151,000 for the same period in 2020, indicating a reduction of 11.6%[7]. - The company reported a basic and diluted loss per share of RMB (0.032) for the six months ended June 30, 2021, compared to RMB (0.036) for the same period in 2020[7]. - The group recorded an after-tax loss of approximately RMB 9,854,000 for the six months ended June 30, 2021, an improvement from a loss of RMB 11,151,000 for the same period in 2020[66]. - The basic loss per share for the six months ended June 30, 2021, was RMB 9,854,000, an improvement from a loss of RMB 11,151,000 in 2020[42]. Assets and Liabilities - As of June 30, 2021, the company's total assets less current liabilities amounted to RMB (55,217,000), compared to RMB (40,878,000) as of December 31, 2020[9]. - The company's cash and cash equivalents decreased to RMB 604,000 as of June 30, 2021, down from RMB 4,140,000 at the end of 2020[9]. - The company's total liabilities as of June 30, 2021, were RMB 217,251,000, compared to RMB 214,630,000 as of December 31, 2020[10]. - As of June 30, 2021, the company's current liabilities net amount was approximately RMB 185,784,000, raising concerns about its ability to continue as a going concern[18]. - The company’s equity attributable to owners amounted to RMB (83,772,000) as of June 30, 2021, compared to RMB (73,967,000) at the end of 2020[10]. - As of June 30, 2021, the total assets of the group decreased by approximately RMB 11,718,000 to about RMB 162,034,000, a reduction of about 7% compared to the previous fiscal period[71]. - The total liabilities of the group decreased by approximately RMB 1,864,000 to about RMB 245,855,000, a decrease of about 1% compared to the previous fiscal period[71]. - The equity of the group decreased by approximately RMB 9,854,000 to about negative RMB 83,821,000, compared to negative RMB 73,967,000 at the end of the previous fiscal period[71]. - The debt-to-asset ratio as of June 30, 2021, was approximately 152%, up from 143% on December 31, 2020[72]. Cash Flow - The net cash flow from operating activities for the first half of 2021 was RMB 2,798,000[15]. - The net cash flow used in investing activities was RMB (14,000) compared to RMB (5,903,000) in the same period of 2020, indicating an improvement[15]. - The net cash flow used in financing activities was RMB (3,396,000), an increase from RMB (1,723,000) in 2020[15]. - The cash and cash equivalents decreased by RMB 612,000 during the first half of 2021, compared to an increase of RMB 617,000 in the same period of 2020[15]. Revenue Sources - Total revenue from fiber optic product manufacturing and sales for the first half of 2021 was RMB 5,947,000, with significant contributions from the Chinese market at RMB 4,630,000[24]. - The company reported a total of RMB 5,947,000 in customer contract revenue for the first half of 2021, with no returns recorded[24]. - The major products contributing to revenue included fiber optic image converters (RMB 3,506,000) and fiber optic plates (RMB 1,086,000)[26]. - Revenue from major customers included RMB 2,100,000 from Customer A and RMB 1,757,000 from Customer B, with Customer B's revenue increasing from RMB 805,000 in 2020[36]. Operational Challenges and Strategies - The company is actively seeking debt restructuring and financial support from shareholders and lenders to improve liquidity[18]. - The management team has been focusing on improving production processes and technology upgrades while actively expanding into civilian markets[55]. - The group plans to enhance its financial situation through measures such as issuing new shares or bonds to attract strategic investors and negotiating debt restructuring[56]. - The group aims to leverage its technological advantages in military products to expand into civilian product markets, increasing new customer acquisition and revenue sources[60]. - The group has experienced a significant decline in sales and financial performance due to the COVID-19 pandemic, but there has been a year-on-year increase in sales as the situation improves[62]. Other Financial Information - The company reported other income from government subsidies amounting to approximately RMB 1,125,000[38]. - Financial expenses for the six months ended June 30, 2021, totaled RMB 4,555,000, compared to RMB 4,558,000 for the same period in 2020[39]. - Other income, gains, and losses for the six months ended June 30, 2021, amounted to approximately RMB 1,684,000, an increase of about RMB 69,000 compared to the previous fiscal period[65]. - The company did not recommend any interim dividend for the six months ended June 30, 2021, and 2020[43]. Corporate Governance - The company has established an audit committee to review and supervise its financial reporting system, risk management, and internal control systems[95]. - The company has complied with the corporate governance code as per GEM listing rules, with some exceptions noted[98]. - The board of directors consists of nine members, including four executive directors and three independent non-executive directors[101].
长城微光(08286) - 2021 - 中期财报