MQR(SZ:002719)2024-08-26 12:18Financial Performance - The company's operating revenue for the first half of 2024 was ¥308,153,023.61, representing a decrease of 10.36% compared to ¥343,760,763.99 in the same period last year[10]. - The net loss attributable to shareholders for the first half of 2024 was ¥64,392,426.65, a decline of 72.31% from a loss of ¥37,369,697.36 in the previous year[10]. - The basic earnings per share for the first half of 2024 was -¥0.3698, a decrease of 72.32% compared to -¥0.2146 in the same period last year[10]. - The weighted average return on equity was -15.20%, down from -6.95% in the previous year, reflecting a decline of 8.25%[10]. - The company reported a significant increase in net assets and operational control from the acquisition date of subsidiaries, impacting the consolidated financial statements[119]. - The company reported a total of 4,919 million yuan in entrusted financial management, with an outstanding balance of 2,599.96 million yuan[67]. - The company reported a net loss of CNY 391,574,448.57, compared to a loss of CNY 327,182,021.92 in the previous period[80]. - The total comprehensive income attributable to the parent company for the first half of 2024 was approximately -¥64.39 million, compared to -¥37.37 million in the same period of 2023[86]. Cash Flow and Liquidity - The net cash flow from operating activities improved significantly to ¥7,736,231.89, compared to a negative cash flow of ¥26,986,229.96 in the same period last year, marking an increase of 128.67%[10]. - Cash and cash equivalents at the end of the reporting period were ¥33,158,417.69, down 2.54% from ¥69,956,745.00 at the end of the previous year[30]. - The total cash inflow from operating activities was ¥1,413,996.63, significantly lower than ¥19,933,725.33 in the first half of 2023[92]. - The company reported a net decrease in cash and cash equivalents of ¥577,075.37, with an ending balance of ¥473.35 as of the end of the reporting period[93]. - The cash flow from operating activities generated a net inflow of approximately ¥7.74 million, a significant recovery from a net outflow of ¥26.99 million in the first half of 2023[90]. Revenue Breakdown - Dairy product revenue was CNY 105.70 million, with a gross margin of -10.41%, a 19.05% decrease in revenue compared to the same period last year[15]. - Bakery product revenue was CNY 147.95 million, with a gross margin of 26.62%, a 1.43% decrease in revenue compared to the same period last year[15]. - Festival product revenue was CNY 14.65 million, with a gross margin of 61.35%, a 15.53% decrease in revenue compared to the same period last year[16]. - Total revenue from Xinjiang was CNY 98.64 million, a 22.04% decrease compared to the same period last year[17]. - Total revenue from outside Xinjiang was CNY 209.51 million, a 3.56% decrease compared to the same period last year[17]. Cost Management - The cost of goods sold was ¥263,238,391.53, down 4.75% from ¥276,360,986.67 year-on-year[24]. - The main components of operating costs include raw materials at 58.57% and direct labor at 12.84%[20]. - The company has implemented measures to control costs and minimize the adverse effects of rising raw material prices, including fresh milk, flour, and packaging materials[40]. - Total operating costs decreased to CNY 357,877,820.59 from CNY 382,700,555.54, reflecting a reduction of 6.5%[84]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,269,577,758.53, down 6.59% from ¥1,359,188,366.07 at the end of the previous year[10]. - The total liabilities decreased to CNY 883,656,341.16 from CNY 908,078,253.35, a reduction of approximately 2.7%[80]. - The company's total equity attributable to shareholders decreased to CNY 391,346,103.77 from CNY 455,738,530.42, reflecting a decline of about 14.1%[80]. - The company has no overdue receivables or impairment provisions related to entrusted financial management[67]. Research and Development - Research and development expenses decreased by 37.32% to ¥2,292,086.89 from ¥3,656,577.25 year-on-year[24]. - The company established the Maqu Group Health and Nutrition Research Institute to accelerate product development and ensure the implementation of research outcomes[24]. Environmental and Social Responsibility - The company has not faced any administrative penalties for environmental issues during the reporting period[45]. - The company has established a wastewater treatment system that meets national discharge standards, with regular monitoring by local environmental authorities[48]. - The company has received multiple awards for its social responsibility efforts, including contributions to disaster relief and community support[55]. Shareholder Information - The actual controller of the company holds 26.90% of the total shares, with all shares frozen due to a debt contract dispute[59]. - The total number of shares outstanding is 174,139,457, with 92.96% being unrestricted shares[68]. - The employee stock ownership plan accounts for 1.26% of total shares, with 2,194,800 shares held[70]. Accounts Receivable Management - The total accounts receivable amounted to ¥144,039,640.87, with a bad debt provision of ¥45,067,540.05, resulting in a provision ratio of 31.29%[180]. - The provision for bad debts for accounts receivable over 2 to 3 years was ¥26,032,499.09, with a provision ratio of 37.95%[184]. - The company is actively managing its accounts receivable to mitigate risks associated with bad debts, as evidenced by the detailed breakdown of provisions[180]. Accounting Policies - The company adheres to the accounting standards set by the Ministry of Finance and reflects its financial status accurately as of June 30, 2024[110]. - The company has implemented new accounting standards starting from 2024, affecting the financial statements[170]. - The company recognizes revenue when control of goods is transferred to customers, typically at the point of delivery, with no significant financing component involved[161].