ST雪发(002485) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was ¥418,450,798.09, representing a decrease of 14.58% compared to ¥489,887,917.57 in the same period last year[10]. - The net profit attributable to shareholders of the listed company was a loss of ¥19,779,589.57, a decline of 139.70% from a profit of ¥49,825,895.78 in the previous year[10]. - The net cash flow from operating activities was -¥87,712,267.52, a significant decrease of 390.16% compared to ¥30,229,400.04 in the same period last year[10]. - Basic and diluted earnings per share were both -¥0.0364, down 139.74% from ¥0.0916 in the previous year[10]. - Total assets at the end of the reporting period were ¥1,812,217,179.62, a decrease of 7.60% from ¥1,961,241,556.65 at the end of the previous year[10]. - The net assets attributable to shareholders of the listed company were ¥1,356,705,588.68, down 1.44% from ¥1,376,474,083.54 at the end of the previous year[10]. - The company reported a weighted average return on equity of -1.45%, a decrease of 4.98% from 3.53% in the previous year[10]. - The company reported a net loss of ¥839,593.28 from investment income, primarily due to hedging losses[22]. - The company reported a net profit of 3,595,702.05 for its subsidiary, Jiaxing Songlu Culture Tourism Development Co., Ltd., which contributed over 10% to the company's net profit[31]. - The company reported a net loss of ¥353,774,952.76 for the period[78]. Revenue and Costs - The company's operating revenue for the reporting period was approximately ¥418.45 million, a decrease of 14.58% compared to the same period last year[18]. - The company's operating costs decreased by 19.11% to approximately ¥398.47 million, compared to ¥492.58 million in the previous year[18]. - Total operating revenue for the first half of 2024 was ¥418,450,798.09, a decrease of 14.6% compared to ¥489,887,917.57 in the same period of 2023[81]. - Total operating costs for the first half of 2024 were ¥435,921,739.16, down from ¥541,666,090.10 in the first half of 2023, indicating a reduction of 19.5%[82]. Cash Flow - The net cash flow from operating activities was negative at approximately -¥87.71 million, a decline of 390.16% compared to ¥30.23 million in the previous year[19]. - The company has seen a 207.28% increase in cash flow from financing activities, amounting to approximately ¥120.85 million, due to increased bill discounts and reduced debt repayments[19]. - Cash and cash equivalents at the end of the reporting period were ¥177,141,475.20, accounting for 9.77% of total assets[23]. - Cash inflow from operating activities decreased to CNY 2.57 billion in the first half of 2024, down from CNY 3.47 billion in the same period of 2023, reflecting a decline of approximately 25.8%[86]. - The cash flow from financing activities showed a net inflow of CNY 120.85 million in the first half of 2024, a recovery from a net outflow of CNY -112.65 million in the previous year[87]. Assets and Liabilities - Total current assets decreased from ¥478,937,725.17 to ¥336,345,680.50, a decline of approximately 29.7%[76]. - Total non-current assets decreased from ¥1,482,303,831.48 to ¥1,475,871,499.12, a decline of about 0.4%[77]. - Total liabilities decreased to ¥298,666,689.31 in the first half of 2024 from ¥337,125,143.22 in the same period of 2023, reflecting a reduction of approximately 11.4%[82]. - The total value of restricted assets was ¥436,801,336.94, primarily due to judicial freezes and collateral for loans[26]. - The company's short-term borrowings decreased significantly to ¥10,000,000.00, down from ¥86,798,214.92, reflecting a reduction of 3.88% in the debt ratio[23]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[1]. - The controlling shareholder holds 69.40% of the company's total shares, with 68.50% of those shares pledged and judicially frozen[47]. - The total number of shares remained at 544,000,000, with no changes in shareholding structure[67]. - The largest shareholder, Guangzhou Xisong Cultural Tourism Investment Co., Ltd., holds 346,103,845 shares, representing 63.62% of total shares[68]. - The second-largest shareholder, Guangzhou JunKai Investment Co., Ltd., holds 31,469,101 shares, representing 5.78% of total shares[68]. Risk Factors - The company faces risks including economic cycle risks and market competition risks, which investors should be aware of[1]. - The company faced risks including natural disasters, economic cycles, commodity price fluctuations, and market competition, and plans to enhance its emergency response mechanisms and marketing strategies to mitigate these risks[33]. Corporate Governance - The first extraordinary shareholders' meeting of 2024 had an investor participation rate of 68.66%[34]. - The company appointed several new directors and independent directors on January 31, 2024, while some directors completed their terms[35]. - The company has no stock incentive plans, employee stock ownership plans, or other employee incentive measures in place during the reporting period[37]. Accounting Policies - The financial report for the first half of 2024 was not audited[75]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that the financial statements accurately reflect the financial position as of June 30, 2024[104]. - Significant accounting policies include provisions for expected credit losses on receivables and inventory valuation methods[103]. - The company does not have any significant concerns regarding its ability to continue as a going concern for the next 12 months[102]. Taxation - The corporate income tax rate for the company is 25%, while certain subsidiaries benefit from a reduced rate of 20% due to their classification as small and micro enterprises[186][185]. - The company is eligible for a 50% reduction in urban maintenance and construction tax, stamp duty, and education surcharges for small and micro enterprises from January 1, 2023, to December 31, 2027[186]. Inventory Management - The company categorizes inventory into finished goods, work in progress, raw materials, and low-value consumables, with development costs including land transfer fees and related expenses[130]. - Inventory is valued at actual cost upon acquisition, with costs including procurement, processing, and other expenses, and is issued using the weighted average method[130]. Employee Compensation - The company recognizes short-term employee compensation as liabilities during the accounting period when services are provided, including wages, bonuses, and various benefits[154]. - Employee retirement benefits are accounted for similarly to termination benefits, recognizing liabilities when the obligation is confirmed[156].