Primeton(688118)2024-08-28 11:42Financial Performance - The company reported a significant increase in revenue for the first half of 2024, with total revenue reaching RMB 500 million, representing a 25% year-over-year growth[10]. - The company's operating revenue for the first half of 2024 was ¥131,961,486.44, a decrease of 26.96% compared to ¥180,668,748.68 in the same period last year[15]. - The net profit attributable to shareholders for the first half of 2024 was -¥60,534,481.23, worsening from -¥31,317,868.66 in the previous year[15]. - The basic earnings per share for the first half of 2024 was -¥0.659, compared to -¥0.341 in the same period last year[16]. - The total comprehensive income for the first half of 2024 was a loss of approximately ¥60.53 million, compared to a loss of ¥31.32 million in the same period of 2023[124]. - The company reported a net profit of CNY 91,554,003.44 for the first half of 2024, down from CNY 140,616,973.94 in the same period of 2023, a decrease of 34.8%[120]. Research and Development - The company is investing heavily in R&D, with a budget of RMB 50 million allocated for new technology development in 2024[10]. - Research and development expenses accounted for 34.39% of operating revenue, an increase of 7.57 percentage points from 26.82% in the previous year[16]. - The company has developed over 40 key core technologies with independent intellectual property rights, including 59 authorized invention patents and 311 software copyrights[35]. - The company has established a unique iPALM model for product management and development, enhancing R&D efficiency and ensuring product quality[33]. - The company achieved CMMI Level 5 certification for software development process maturity, maintaining this highest level for three consecutive assessments[49]. Market Expansion and Strategy - The company provided a positive outlook for the second half of 2024, projecting a revenue growth of 20% to 30% compared to the first half[10]. - Market expansion plans include entering two new provinces, aiming for a 15% market share in these regions by the end of 2025[10]. - The company is considering strategic acquisitions to enhance its product offerings, with a target of completing at least one acquisition by the end of 2024[10]. - The company aims to leverage market opportunities in digital economy construction to continuously enhance its market position[24]. - The marketing strategy includes brand promotion through industry conferences, advertising, and social media, aimed at increasing brand awareness and customer engagement[30]. Product Development and Innovation - New product launches are expected to contribute an additional RMB 100 million in revenue by the end of 2024[10]. - The company continues to innovate and iterate its products to meet the evolving demands of the market, ensuring sustainable high-quality growth[23]. - The software platform business, which includes data middle platform, low-code platform, and middleware, is expected to be a key driver for high-quality revenue growth in the future[25]. - The company has developed a comprehensive suite of products including the Primeton Data Asset Management Platform and Primeton Low-Code Development Platform, aimed at enhancing data quality and facilitating digital transformation for enterprises[28][29]. - The Primeton Low-Code Development Platform allows for rapid and efficient business application development, supporting AI recommendations for application modules and data models[29]. Financial Management and Shareholder Relations - The board has approved a profit distribution plan, with no plans for capital increase through reserves for this reporting period[10]. - The company plans to distribute at least 10% of its distributable profits in cash each year, subject to meeting cash dividend conditions and ensuring normal operations and long-term development[86]. - The company has established a long-term sustainable dividend return plan, considering actual operating conditions, future development goals, and shareholder expectations[86]. - The company will ensure that any related party transactions are conducted at market prices to maintain fairness and transparency[87]. - The company emphasizes the importance of maintaining a balance between sustainable business development and shareholder returns[86]. Environmental and Social Responsibility - The company actively promotes low-carbon initiatives among employees, including energy-saving measures and recycling practices[77]. - The company is committed to adhering to national carbon reduction policies and encourages sustainable practices among its workforce[77]. - The company has not reported any administrative penalties related to environmental issues during the reporting period[77]. Corporate Governance and Compliance - The company guarantees that the IPO prospectus submitted to the regulatory authorities does not contain any false records or misleading statements, and assumes legal responsibility for its accuracy and completeness[91]. - The company will ensure that any investor losses due to non-fulfillment of commitments will be compensated according to the methods determined by regulatory authorities or through negotiation with investors[93]. - The company has committed to strict adherence to all public commitments disclosed in the IPO prospectus, with measures in place for any non-compliance, including potential compensation for investor losses[93]. - The company will notify the market in advance if any major shareholder intends to reduce their holdings, adhering to a three-day notice period before executing any sales[81]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥91,492,903.97, compared to -¥112,326,962.76 in the same period last year[15]. - The company reported a significant increase of 91.61% in net cash flow from investing activities, rising to ¥20,364,696.18 from ¥10,628,287.26 year-on-year[66]. - The company experienced a net decrease in cash and cash equivalents of CNY -72,938,889.74, compared to CNY -104,718,640.04 in the same period last year[130]. Shareholder Structure and Changes - The total number of shares decreased from 95,400,000 to 93,970,039 due to the cancellation of 1,429,961 repurchased shares[106]. - The total number of common stock shareholders as of the end of the reporting period was 6,423[108]. - Liu Yadong is the largest shareholder, holding 20,942,809 shares, which represents 22.29% of the total shares[108]. - The top ten shareholders collectively hold 34,000,000 shares, accounting for approximately 36.24% of the total shares[110]. Financial Position and Assets - The total assets at the end of June 2024 were reported at CNY 843,341,648.84[136]. - The company's total non-current assets increased to CNY 249,743,572.31 from CNY 233,205,404.06, an increase of 7.1%[119]. - The company's equity attributable to shareholders decreased to CNY 792,336,251.02 from CNY 857,897,040.04, a decline of 7.6%[119].