*ST京蓝(000711) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was ¥14,438,453.95, a decrease of 85.85% compared to ¥102,030,191.37 in the same period last year[11]. - The net profit attributable to shareholders was -¥52,725,454.50, showing an improvement of 91.81% from -¥643,940,280.67 year-on-year[11]. - The net cash flow from operating activities was -¥271,041,271.05, a significant decline of 2,815.70% compared to -¥9,295,930.30 in the previous year[11]. - Basic and diluted earnings per share were both -¥0.0185, reflecting a 97.06% improvement from -¥0.6291 in the same period last year[11]. - Total revenue for the reporting period was ¥14,438,453.95, a decrease of 85.85% compared to ¥102,030,191.37 in the same period last year[33]. - The soil remediation service business accounted for 100% of total revenue, with a revenue of ¥14,438,453.95, down 85.24% from ¥97,814,239.79 year-on-year[34]. - The gross profit margin for the soil remediation service business was 19.79%, an increase of 238.33% compared to the previous year[35]. - The company reported a significant decline in revenue, with a total of 14,438,453.95 yuan for the current period, representing an 85.85% decrease compared to 102,030,191.37 yuan in the same period last year due to bankruptcy reorganization and project delays[31]. - The company reported a total of 10,272.45 million RMB in a contract dispute case, with the final judgment upholding the original ruling[62]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,177,743,957.58, down 10.47% from ¥1,315,454,563.76 at the end of the previous year[11]. - Net assets attributable to shareholders decreased by 6.83%, amounting to ¥677,598,155.01 compared to ¥727,256,046.44 at the end of the previous year[11]. - Cash and cash equivalents decreased by 31.42% to ¥56,719,518.73, primarily due to operational and investment expenditures[37]. - Accounts receivable decreased by 4.28% to ¥385,942,582.04, indicating improved collection of receivables[37]. - The company reported a significant increase in inventory, which rose to ¥145,376,297.06, primarily due to increased purchases during the period[37]. - The company's total current assets decreased from CNY 1,224,301,325.28 at the beginning of the period to CNY 924,448,328.33 at the end of the period, representing a decline of approximately 24.5%[92]. - Total liabilities decreased from CNY 525.64 million to CNY 442.52 million, a reduction of approximately 15.8%[94]. - Current liabilities decreased from CNY 509.50 million to CNY 402.54 million, a decline of about 21%[94]. Investments and Acquisitions - The company has invested approximately RMB 53 million to acquire an 87.42% stake in Yunnan Yesheng Environmental Resources Technology Co., Ltd., which holds a hazardous waste operating license with an annual capacity of 98,000 tons[23]. - The company is actively pursuing the acquisition of 100% equity in Gejiu Xinghua Zinc Industry Co., Ltd., which is expected to contribute a net profit of no less than RMB 18.5 million, RMB 20.35 million, and RMB 22.39 million for the years 2024, 2025, and 2026 respectively[23]. - The company plans to acquire 100% of the equity of Yuxinghua Zinc Industry Co., Ltd. for 185 million RMB, involving related party transactions[69]. Operational Strategy - The company is engaged in soil remediation, agricultural soil environmental protection, and industrial solid waste recycling, with a focus on advanced environmental governance technologies[16]. - The company aims to achieve a significant increase in resource output rates by 2025, with a target of 4 billion tons of major waste recycling annually by 2025[19]. - The company is actively pursuing overseas market opportunities in regions like Laos, Saudi Arabia, and Vietnam, capitalizing on the underdeveloped market for zinc-indium solid hazardous waste resource utilization[27]. - The company aims to enhance its market competitiveness by integrating resources and providing comprehensive solutions in response to increasing industry competition[50]. - The company is focusing on market expansion and new product development as part of its strategic initiatives moving forward[99]. Research and Development - The company has participated in over 20 national and provincial-level research projects, focusing on soil pollution control and remediation technologies[17]. - Research and development expenses decreased slightly by 5.76% to 6,915,642.31 yuan, indicating ongoing investment in innovation despite financial challenges[32]. - The company aims to enhance its technological capabilities through ongoing research and development initiatives[110]. Corporate Governance and Compliance - The company has established a comprehensive corporate governance structure to protect shareholder rights, ensuring fair treatment for all shareholders[58]. - The company emphasizes employee rights protection, providing various training programs to enhance employee skills and overall quality[58]. - There were no significant environmental penalties or issues reported during the reporting period[58]. - The half-year financial report has not been audited yet[61]. - The company has no significant litigation, arbitration, or penalties during the reporting period[64][66][71]. Financial Management - The company has established a significant importance threshold for bad debt recovery, set at 5% of total receivables, with a minimum amount of CNY 10 million[127]. - The company has a bad debt provision for accounts receivable amounting to ¥40,197,582.60, representing 40.86% of the total[188]. - The provision for bad debts for the first category of accounts receivable was 100% for significant individual amounts, totaling CNY 3,250,505.47[191]. - The company’s total accounts receivable at the end of the reporting period was CNY 664,952,315.02, with a significant portion provisioned for bad debts[189]. Shareholder Information - The largest shareholder, Yunnan Jiajun Target Material Technology Co., Ltd., holds 540,000,000 shares, accounting for 18.90% of total shares[80]. - The second-largest shareholder, the bankruptcy asset disposal special account of Jinglan Technology, holds 418,567,310 shares, representing 14.65%[80]. - The company reported a total of 28,215 shareholders at the end of the reporting period[80]. Legal Matters - The company is actively resolving various litigation matters, with a total of 1,777.51 million RMB in ongoing lawsuits that do not significantly impact its operations[62]. - The company has ongoing litigation against the Gaotang County government, with a claim of 7,373.34 million RMB, which has been dismissed in the final judgment[62]. Accounting Policies - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that the financial statements are true and complete[123]. - The company uses the historical cost basis for accounting, except for certain financial instruments and investment properties[121]. - The company recognizes revenue when control of goods or services is transferred to customers, with revenue from product sales confirmed at the point of delivery[171].