博信股份(600083) - 2016 Q2 - 季度财报

Financial Performance - The company reported a revenue of ¥41,301,184.99 for the first half of 2016, a decrease of 39% compared to ¥67,711,615.61 in the same period last year[9]. - The net profit attributable to shareholders was ¥2,680,371.99, down 72.49% from ¥9,744,016.82 in the previous year[9]. - The basic earnings per share decreased by 71.43% to ¥0.012 from ¥0.042 in the same period last year[9]. - The weighted average return on equity dropped by 17.68 percentage points to 4.67% from 22.35% year-on-year[9]. - The construction engineering segment reported a revenue of ¥41,222,653.99, with a gross margin of 35.40%[17]. - The company reported a total revenue of ¥25,187,828.39 for the first half of 2016, showing a significant increase compared to the previous period[20]. - Operating profit for the first half of 2016 was CNY 7,934,378.39, a decline of 59% from CNY 19,334,726.74 in the previous year[50]. - Net profit for the first half of 2016 was CNY -4,022,150.28, compared to a net profit of CNY 9,808,583.25 in the same period last year[53]. Cash Flow and Assets - The company’s cash flow from operating activities showed a significant increase of 106.42%, reaching ¥5,420,013.92 compared to a negative cash flow in the previous year[9]. - The company’s total assets increased by 5.25% to ¥124,194,479.28 from ¥118,001,670.23 at the end of the previous year[9]. - The company’s net assets attributable to shareholders rose by 6.37% to ¥55,043,971.14 from ¥51,745,584.34 at the end of the previous year[9]. - Total assets as of June 30, 2016, amounted to ¥124,194,479.28, an increase from ¥118,001,670.23 at the beginning of the period[46]. - The company's cash and cash equivalents were reported at ¥11,544,831.57, down from ¥16,868,207.49[46]. - The total liabilities were reported at ¥57,678,625.75, compared to ¥56,654,581.85 previously[47]. - The total equity attributable to shareholders was ¥55,043,971.14, compared to ¥51,745,584.34 at the start of the period[47]. - The company reported a net cash flow from operating activities of CNY 1,025,248.53, recovering from a net outflow of CNY -57,520,299.30 in the previous period[56]. Contracts and Revenue Sources - The main source of revenue during the reporting period was from the subsidiary Bocheng Municipal Engineering, which generated ¥41,301,184.99 in revenue and ¥9,351,891.75 in net profit[13]. - The company confirmed project revenue of ¥1,610.82 million from the construction of the water supply network in Qingyuan, with a contract amount of ¥1,731.45 million[26]. - The company has ongoing contracts with a total tentative amount of ¥8,066.76 million for the expansion of the water supply network, with confirmed revenue of ¥8,975.17 million[26]. - The company has a tentative contract amount of ¥457.60 million for another water supply project, with confirmed revenue of ¥410.06 million[27]. Corporate Governance and Management - The company did not engage in any financing or major asset restructuring during the reporting period[15]. - There were no profit distribution plans implemented during the reporting period[22]. - The company has not reported any significant changes in its core competitiveness during the reporting period[24]. - The company has confirmed that there will be no significant changes in net profit compared to the previous year[23]. - The company continues to focus on normal operational activities without compromising the interests of minority investors[28]. - The company has established independent financial and operational structures to maintain its autonomy from its controlling shareholder[33]. - The company has committed to independent decision-making in financial matters without interference from its controlling shareholder[33]. - The company has appointed new executives, including a new general manager and financial director, indicating a strategic shift in leadership[42]. Accounting Policies and Financial Reporting - The company adheres to accounting standards, ensuring that financial statements accurately reflect its financial position and performance[73]. - The accounting period for the company runs from January 1 to December 31 each year[74]. - The company's functional currency for accounting is Renminbi[76]. - The company recognizes revenue, expenses, and profits from subsidiaries acquired under common control from the beginning of the reporting period[81]. - The company recognizes cash and cash equivalents as cash on hand and deposits available for immediate payment[87]. - The company will adjust retained earnings for any discrepancies in capital reserves due to acquisitions of minority interests[85]. - The company recognizes expected liabilities when obligations related to litigation, debt guarantees, or restructuring are likely to require future asset delivery or service provision[134]. Inventory and Receivables - The company’s inventory stood at ¥23,334,957.32, reflecting its operational capacity[46]. - The total accounts receivable at the end of the period is RMB 58,089,284.53, with a bad debt provision of RMB 426,244.02, representing 0.73% of the total[160]. - The largest accounts receivable is from Qingyuan Water Supply Expansion Co., Ltd., totaling RMB 44,340,644.32, accounting for 76.33% of total accounts receivable[160]. - The inventory at the end of the period totals CNY 23,334,957.32, a decrease from CNY 36,367,824.66 at the beginning of the period, reflecting a reduction of about 35.9%[170]. Taxation and Incentives - The corporate income tax rate applicable is 25%[150]. - The company transitioned from paying business tax to value-added tax starting May 1, 2016, for its subsidiary[150]. - The company has no tax incentives during the reporting period[151].