ST浩源(002700) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 323,454,347.95, representing a 6.62% increase compared to CNY 303,372,615.76 in the same period last year[11]. - The net profit attributable to shareholders for the first half of 2024 was CNY 51,709,101.95, up 16.76% from CNY 44,288,039.19 in the previous year[11]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 46,772,459.35, reflecting a 7.67% increase from CNY 43,439,149.52 year-on-year[11]. - The basic earnings per share for the first half of 2024 was CNY 0.1250, an increase of 16.71% compared to CNY 0.1071 in the same period last year[11]. - The total profit for the first half of 2024 was CNY 59,860,919.75, representing an increase of 6.1% from CNY 56,141,436.56 in the first half of 2023[94]. - The company's net profit for the first half of 2024 was CNY 50,763,225.74, compared to CNY 44,017,078.06 in the same period last year, marking a growth of 15.3%[94]. - Operating costs for the first half of 2024 totaled CNY 262,753,459.33, up 6.1% from CNY 247,591,347.51 in the same period of 2023[94]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,080,026,911.49, a slight increase of 0.21% from CNY 1,077,764,337.44 at the end of the previous year[11]. - The net assets attributable to shareholders at the end of the reporting period were CNY 832,261,829.62, which is a 6.34% increase from CNY 782,669,021.19 at the end of the previous year[11]. - Cash and cash equivalents at the end of the reporting period amounted to ¥494,458,241.69, representing 45.78% of total assets, an increase from 41.46% at the end of the previous year[29]. - Accounts receivable increased to ¥49,915,424.70, accounting for 4.62% of total assets, up from 2.83% year-on-year[29]. - The total liabilities decreased from CNY 274,000,000 to CNY 220,000,000, reflecting a reduction of approximately 19.7%[90]. Cash Flow - The net cash flow from operating activities decreased significantly by 84.93%, amounting to CNY 13,650,030.93 compared to CNY 90,561,578.98 in the same period last year[11]. - The company reported a significant increase in cash inflow from investment activities, totaling CNY 123,000,000.00, significantly up from CNY 267,760.00 in the previous year[99]. - Cash outflow from investment activities was CNY 89,401,193.07, compared to CNY 2,749,327.77 in the same period last year[99]. - The company reported a net increase in cash and cash equivalents of CNY 47,248,837.86 for the first half of 2024, compared to CNY 76,655,025.89 in the previous year[99]. Business Operations - The company’s main business includes natural gas transportation, sales, and household installation, covering various regions in Xinjiang and parts of Gansu Province[16]. - The company holds a 30-year exclusive operating right for urban gas supply in its designated areas, providing a competitive edge in the market[24]. - The company’s gas supply is supported by long-term agreements with PetroChina, ensuring stable gas sources for its operations[23]. - The company is positioned to benefit from the increasing urbanization rate in Xinjiang, which presents growth opportunities for its natural gas business[25]. - Natural gas business contributed ¥287,275,937.67, accounting for 88.81% of total revenue, with a year-on-year growth of 3.31%[28]. Safety and Compliance - The company faces safety risks due to the flammable nature of natural gas, which could lead to severe consequences if mishandled[40]. - The company is focusing on enhancing safety management and has implemented a comprehensive safety production responsibility system[42]. - The company received a warning from the China Securities Regulatory Commission regarding potential delisting risks if it fails to rectify financial issues within six months[41]. - The company has not faced any environmental penalties or incidents during the reporting period, emphasizing its commitment to clean energy and environmental protection[52]. Shareholder and Governance - The company does not plan to distribute cash dividends or issue bonus shares for this reporting period[2]. - The company held its 2024 Annual General Meeting on May 23, 2024, with a participation rate of 54.87%[44]. - The company approved a share repurchase plan with a total amount between RMB 30 million and RMB 50 million, with a maximum repurchase price of RMB 5 per share[46]. - The company completed its share repurchase plan, acquiring a total of 8,798,695 shares, representing 2.0829% of the total share capital, with a total transaction amount of RMB 33,181,454.83[47]. Legal and Financial Disputes - The company has ongoing litigation against the former controlling shareholder for the recovery of occupied funds, with a civil mediation document received from the court on December 6, 2021[53]. - The company has initiated legal proceedings against the original controlling shareholder for the recovery of occupied funds[61]. - The company is currently undergoing a rectification process due to non-disclosure of important information and has strengthened internal control systems[59]. - The company has reported a non-operating fund occupation by controlling shareholders totaling 52,140 million CNY, with a repayment commitment that was not fulfilled by the deadline of March 31, 2021[53]. Accounting and Financial Reporting - The semi-annual financial report has not been audited[57]. - The financial report was approved by the board of directors on August 28, 2024[115]. - The financial statements reflect the company's financial position, operating results, and cash flows accurately and completely[119]. - The company has assessed its ability to continue as a going concern for the next 12 months and found no issues affecting this capability[117]. Credit Risk and Bad Debt Provisions - The company reported a bad debt provision of CNY 24.51 million, which is approximately 32.93% of the total accounts receivable[179]. - The total bad debt provision as of June 30, 2024, is CNY 28,200,312.94, with a provision ratio of 100%[192]. - The company has maintained a consistent bad debt provision strategy, with no significant changes in the overall balance during the reporting period[192]. - The provision for bad debts related to individual items remains unchanged at CNY 513,382,500.00[199].