ST升达(002259) - 2024 Q2 - 季度财报

Legal and Regulatory Issues - The company reported a significant impact from historical issues related to the original controlling shareholder, resulting in ongoing litigation[2]. - The company is closely monitoring and will timely disclose the progress of ongoing litigation[2]. - The company is facing a legal risk with a balance of 921.1593 million CNY related to funds occupied by the former controlling shareholder, Shengda Group[39]. - The company is involved in a lawsuit with Chengdu Rural Commercial Bank, with a disputed amount of 97,500,000 CNY, and it has formed a provision for this liability[55]. - The company won a first-instance judgment in a lawsuit against multiple parties, ordering the repayment of 12,145,347.96 CNY plus interest[55]. - The company is currently in the process of executing judgments in several cases, including a claim for 3,122,890 CNY[55]. - The company has ongoing litigation involving a total of 1,265,280 CNY in other minor disputes, which have not reached the disclosure threshold[57]. - The company has disclosed ongoing issues related to historical violations by the former controlling shareholder, including fund occupation and guarantees[73]. Financial Performance - The company's operating revenue for the first half of 2024 was ¥262,154,940.32, a decrease of 35.87% compared to ¥408,770,547.69 in the same period last year[12]. - The net profit attributable to shareholders was -¥43,402,130.49, representing a decline of 376.39% from ¥15,703,429.50 in the previous year[12]. - The basic earnings per share was -¥0.0577, down 376.08% from ¥0.0209 in the same period last year[12]. - The weighted average return on equity was -19.43%, a decrease of 25.69% compared to 6.26% in the previous year[12]. - The net profit for the first half of 2024 was a loss of CNY 44,084,878.96, compared to a profit of CNY 14,992,305.07 in the first half of 2023[93][94]. - The company reported a significant increase in credit impairment losses, amounting to CNY 3,332,548.85, down from CNY 6,752,761.59 in the previous year[93]. - The total comprehensive income for the current period is -70,178,235.20 CNY, indicating a significant decrease compared to the previous period[107]. - The company reported a net loss of RMB 1,548,999,599.70 for the current period, reflecting ongoing financial challenges[111]. Cash Flow and Liquidity - The net cash flow from operating activities was ¥25,931,588.96, down 64.09% from ¥72,219,503.83, attributed to decreased business volume and increased working capital requirements[23]. - The company reported a net increase in cash and cash equivalents of ¥20,825,583.73, a decrease of 64.34% from ¥58,400,164.70[23]. - The company's cash and cash equivalents increased to ¥241,986,985.64 from ¥221,059,548.01, representing a growth of approximately 8.7%[86]. - The company has reported a judicial freeze on its bank accounts due to overdue debts, indicating potential liquidity issues[199]. Assets and Liabilities - The total assets at the end of the reporting period were ¥897,037,425.45, an increase of 0.42% from ¥893,248,683.31 at the end of the previous year[12]. - The net assets attributable to shareholders decreased by 17.69% to ¥201,717,385.17 from ¥245,067,037.87 at the end of the previous year[12]. - Total liabilities increased to ¥684,388,501.82 from ¥636,585,969.03, representing a rise of about 7.5%[88]. - The company's total equity attributable to shareholders decreased to ¥201,717,385.17 from ¥245,067,037.87, a decline of approximately 17.6%[88]. - The company has a total interest-bearing debt balance of RMB 304 million, with overdue debts amounting to RMB 127 million[117]. Operational Performance - The company's LNG processing business is the main revenue driver, influenced by upstream pricing mechanisms and seasonal demand[16]. - The domestic LNG consumption ratio was 59.21%, down 5 percentage points year-on-year, indicating increased competition in the market[16]. - The company aims to enhance operational efficiency and reduce costs through improved management practices and process optimization[17]. - The operating cost decreased by 39.60% to ¥210,777,493.07 from ¥348,997,332.37, primarily due to a decline in self-produced and self-sold business volume and a decrease in average procurement prices[23]. Shareholder Information - The total number of shares is 752,328,267, representing 100% of the company's equity[77]. - The largest shareholder, Huabao Trust, holds 28.33% of the shares, totaling 213,115,525 shares[78]. - The second-largest shareholder, Shanghai Yunsheng, holds 1.93% of the shares, totaling 14,529,300 shares[78]. - The third-largest shareholder, Nuoan Asset Management, holds 1.90% of the shares, totaling 14,306,232 shares[78]. - The report indicates no changes in the shareholding of directors, supervisors, and senior management during the reporting period[80]. Corporate Governance and Compliance - The company has maintained its information disclosure practices without changes during the reporting period[10]. - There are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[51]. - The company has no penalties or rectification measures during the reporting period[58]. - The company has not reported any significant related party transactions, including asset or equity acquisitions, joint investments, or other major contracts during the reporting period[60][61][72]. Environmental and Social Responsibility - The company has made charitable donations to support local communities, including disaster recovery efforts[49]. - Environmental protection facilities at Yulin Jinyuan and Mizhi Luyuan have been operational since construction, with effective waste gas treatment measures in place[46]. Future Outlook and Strategy - The company plans to continue monitoring and adjusting operations in response to macroeconomic policies and industry regulations[40]. - The company aims to optimize its business model, strengthen upstream and downstream cooperation, and enhance profitability in 2024[118]. - The company has not provided specific guidance for future performance or new product developments in the report[93].