LH(SH:600099)2015-08-28 16:00Financial Performance - The company achieved operating revenue of CNY 173.49 million, an increase of 4.23% compared to the same period last year[15]. - Net profit attributable to shareholders was CNY 1.45 million, a decrease of 3.79% year-on-year[15]. - The basic earnings per share were CNY 0.0066, down 4.35% from the same period last year[16]. - The company reported a total profit of ¥1,817,017.76 for the current period, which is a key indicator of its financial performance[197]. - The current period's income tax expense was ¥364,660.66, compared to ¥442,483.92 in the previous period, showing a decrease of approximately 17.6%[197]. Revenue Breakdown - The main business income from motorcycles and special vehicles was CNY 129.46 million, with a gross margin of 9.82%[19]. - The main business income from power and garden machinery was CNY 35.81 million, with a gross margin of 27.05%[19]. - The company's revenue from the locomotive manufacturing industry reached ¥129,464,781.97, with a gross margin of 9.82%, an increase of 1.28 percentage points compared to the previous year[27]. - Revenue from the power machinery industry was ¥35,805,899.62, with a gross margin of 27.05%, an increase of 1.99 percentage points compared to the previous year[27]. - International market revenue was ¥81,513,556.65, reflecting a year-on-year increase of 4.95%[28]. - Domestic market revenue was ¥83,757,124.94, reflecting a year-on-year increase of 1.33%[28]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY -27.41 million, compared to CNY -21.74 million in the previous year[15]. - The cash inflow from sales of goods and services was CNY 100,199,196.79, a decrease of 22.3% compared to CNY 128,925,301.52 in the previous period[68]. - The total cash outflow from operating activities was CNY 127,994,353.16, down from CNY 151,301,804.65 in the previous period[68]. - The cash and cash equivalents at the end of the period were CNY 173,323,804.40, a decrease from CNY 206,489,958.69 in the previous period[69]. - The net cash flow from operating activities for the first half of the year was CNY -25,939,100.89, worsening from CNY -15,238,627.37 in the previous period[72]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 588.14 million, an increase of 4.54% from the end of the previous year[15]. - Total liabilities as of June 30, 2015, were RMB 117,045,054.71, compared to RMB 92,935,674.99 at the beginning of the period, marking an increase of approximately 26.0%[59]. - The company's equity attributable to shareholders was RMB 471,099,156.82, slightly up from RMB 469,646,799.72, indicating a marginal increase of about 0.3%[59]. - The total accounts payable at the end of the period is CNY 95,622,619.62, up from CNY 81,586,619.14 at the beginning of the period, indicating an increase of approximately 17%[175]. - The total prepayments at the end of the period amount to CNY 7,341,614.23, compared to CNY 5,471,688.02 at the beginning of the period, reflecting a growth of about 34%[176]. Investments and Capital Structure - The company has not made any new external investments during the reporting period[30]. - The company has maintained a consistent capital stock of 219,120,000.00 RMB throughout the reporting period[76]. - The total capital reserve at the end of the period is CNY 199,407,643.80, unchanged from the previous period[183]. - The total unappropriated profit at the end of the period is CNY 27,590,804.0, down from CNY 35,792,733.50 in the previous period[185]. - The company has not reported any new capital contributions or significant changes in shareholder equity during this period[75]. Operational Efficiency and Cost Management - The company has implemented strict internal assessments to improve production efficiency and reduce costs through various strategies[25]. - The company reported a bad debt loss of ¥1,408,534.96, which is a significant increase from ¥675,912.70 in the previous period, indicating a rise of approximately 108.5%[190]. - Management expenses increased to ¥19,598,491.88 from ¥16,926,769.34, marking a rise of about 15.8%[189]. - Sales expenses totaled ¥3,498,203.46, up from ¥2,317,754.63 in the previous period, reflecting a significant increase of approximately 50.9%[188]. Corporate Governance and Compliance - The company has maintained its commitment to corporate governance and compliance with relevant laws and regulations[46]. - The financial statements are prepared based on the going concern principle, with no significant risks affecting the company's ability to continue operations in the next 12 months[83]. - The company adheres to the enterprise accounting standards, ensuring that the financial statements reflect a true and complete picture of its financial status[85]. Inventory and Receivables - The total inventory at the end of the period amounted to CNY 67,085,769.32, an increase from CNY 60,591,047.55 at the beginning of the period, reflecting a growth of approximately 10.3%[162]. - The total accounts receivable at the end of the period amounted to CNY 62,025,585.03, with a bad debt provision of CNY 3,989,466.15, resulting in a provision ratio of 6.43%[148]. - The company has recognized a bad debt provision of CNY 1,363,161.16 during the current period[150]. - The top five accounts receivable by amount accounted for 59.03% of the total accounts receivable, totaling CNY 68,675,531.19[151]. Future Outlook and Strategy - The company plans to enhance its market expansion efforts and invest in new product development to drive future growth[67]. - The company is actively pursuing a major asset restructuring, with a framework agreement signed and ongoing negotiations with potential transaction parties[24]. - The company did not report any new strategies or significant market expansions during the conference call[163].