HJHS(SH:603616)2024-08-29 09:23Financial Performance - The company's operating revenue for the first half of 2024 was ¥152,791,439.44, representing a decrease of 15.42% compared to ¥180,656,693.65 in the same period last year[12]. - The net profit attributable to shareholders of the listed company was -¥34,085,863.42, an improvement of 12.19% from -¥38,819,906.57 in the previous year[12]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -36,089,138.10 RMB, a decrease of 3.04% compared to the previous period[13]. - Basic earnings per share were -0.0871 RMB, an improvement of 14.44% compared to -0.1018 RMB in the same period last year[14]. - The company reported a net loss of ¥522,927,884.59, compared to a loss of ¥488,842,021.17 in the previous period[82]. - The total comprehensive income for the first half of 2024 was a loss of approximately ¥34.24 million, compared to a loss of ¥39.39 million in the same period of 2023, showing an improvement of about 13.9%[88]. Cash Flow and Assets - The net cash flow from operating activities increased significantly to 91,214,075.43 RMB, compared to -59,348,070.00 RMB in the previous period, representing a 253.69% increase[13]. - Total assets increased by 5.13% to 1,877,971,229.98 RMB compared to the end of the previous year[13]. - Cash and cash equivalents increased significantly to ¥103,749,826.60 from ¥54,521,334.32, representing an increase of approximately 90.5%[83]. - The company's total current assets amounted to approximately CNY 1.40 billion, an increase from CNY 1.38 billion as of December 31, 2023, reflecting a growth of about 8.9%[80]. - The total amount of accounts receivable at the end of the period amounted to ¥666,548,572.59, a decrease from ¥723,076,413.02 at the beginning of the period, representing a decline of approximately 7.8%[175]. Liabilities and Equity - The company's equity attributable to shareholders decreased to ¥397,390,989.59 from ¥428,172,043.20, a decline of about 7.2%[82]. - Total liabilities reached ¥1,480,580,240.39, compared to ¥1,358,230,091.77, marking an increase of around 9.0%[82]. - The total equity of the company at the end of the first half of 2024 was CNY 521,271,534.31, a decrease of CNY 25,276,389.30 compared to the beginning of the year[102]. Business Operations - The main business includes the research, production, and sales of prestressed concrete pipes (PCCP) and concrete admixtures, with a competitive advantage in the Beijing-Tianjin-Hebei region[17]. - The company plans to accelerate the development of its environmental protection business, transitioning from a construction-focused model to a comprehensive investment and operation service model[18]. - The PCCP business generated sales revenue of CNY 115.12 million, with key projects including contracts for major water supply engineering[27]. - The environmental subsidiary Qingqing Environmental achieved revenue of only CNY 5.31 million due to incomplete project performance acceptance[27]. Risks and Challenges - The company reported a risk of not winning bids, which could severely impact future performance if the number or value of contracts falls below expectations[34]. - The company faces risks related to large orders, as major projects like the South-to-North Water Diversion Project significantly influence future earnings, particularly in the PCCP business[35]. - The company highlighted the potential for revenue and profit fluctuations due to the timing of major water conservancy project tenders and construction schedules, which may not align with accounting periods[36]. - The company emphasized the importance of securing sufficient future orders for PCCP to maintain performance, as reliance on national key water diversion projects is critical[37]. Environmental Compliance - The company reported that the actual emission concentration of non-methane total hydrocarbons was 5.24 mg/m³, significantly below the allowed concentration of 80 mg/m³[42]. - The company achieved a wastewater COD discharge of 35 mg/L, well under the permitted limit of 400 mg/L[42]. - The company’s noise emissions during the day were recorded at 57 dB(A), below the allowable level of 65 dB(A)[42]. - The company has established an emergency response plan for environmental incidents, which was filed with the relevant authorities on November 2, 2023[46]. Shareholder and Governance - The company has not proposed any profit distribution or capital reserve transfer to share capital during this reporting period[3]. - The controlling shareholder has committed not to engage in any business that competes with the company's main operations, ensuring no direct or indirect competition[57]. - The company has established a long-term commitment to prioritize the acquisition and production rights of new technologies and products related to its main business[57]. - The company’s financial report was approved by the board of directors on August 29, 2024, indicating timely governance and oversight[106]. Research and Development - The company has a total of 64 valid patents, including 7 invention patents and 57 utility model patents, with 9 new patents granted in the first half of 2024[22]. - Research and development expenses for the first half of 2024 were CNY 5,803,484.98, down from CNY 7,183,247.66, indicating a decrease of 19.2%[86]. - The company is actively involved in the development of new technologies and products to enhance its competitive edge in the market[22]. Accounting and Financial Reporting - The financial statements were prepared in accordance with the Chinese Accounting Standards and relevant regulations, ensuring compliance and transparency[106]. - The company has established specific accounting policies and estimates, including provisions for bad debts and inventory write-downs[108]. - The company recognizes revenue when control of goods or services is transferred to the customer, based on the fulfillment of performance obligations[155]. - The group recognizes deferred tax assets and liabilities based on temporary differences between the tax basis and book value of assets and liabilities, with management estimating future taxable income to determine the amount of deferred tax assets[160].