LH(SH:600099)2017-08-25 16:00Financial Performance - The company's operating revenue for the first half of 2017 was ¥221,233,358.26, representing a 6.52% increase compared to ¥207,701,500.66 in the same period last year[15]. - The net profit attributable to shareholders for the first half of 2017 was ¥1,358,351.99, a slight increase of 0.55% from ¥1,350,965.10 in the previous year[15]. - Operating profit reached 196.72 million RMB, up 8.11% compared to the previous year[29]. - Net profit was 135.83 million RMB, reflecting a slight increase of 0.55% year-on-year[29]. - The total comprehensive income for the first half of 2017 was CNY 1,350,965.1[77]. Cash Flow - The net cash flow from operating activities was -¥27,162,934.62, showing an improvement from -¥31,641,928.11 in the same period last year[15]. - The cash inflow from sales of goods and services for the first half of 2017 was ¥142,071,013.06, an increase of 25.8% compared to ¥112,826,007.74 in the same period last year[69]. - The total cash outflow from operating activities was ¥170,328,722.39, up from ¥145,405,200.73, reflecting increased operational costs[70]. - The cash inflow from operating activities for the parent company was ¥91,001,075.37, a 44.2% increase from ¥63,117,570.05 in the previous year[72]. - The net cash flow from operating activities for the parent company was -¥22,191,520.31, an improvement from -¥28,444,453.62 in the previous year[72]. Assets and Liabilities - The total current assets as of June 30, 2017, amount to 430,878,072.68 RMB, an increase from 406,311,705.99 RMB at the beginning of the period[59]. - The total liabilities as of June 30, 2017, are 136,292,040.91 RMB, compared to 116,460,555.10 RMB at the beginning of the period[60]. - The company's total assets increased to 611,836,613.81 RMB from 590,740,743.71 RMB at the beginning of the period[59]. - The total accounts receivable at the end of the period was 139.32 million, with a bad debt provision of 3.63 million, representing 2.61% of the total[144]. - The total inventory at the end of the period is CNY 80,186,679.94, with a provision for inventory depreciation of CNY 712,230.86[160]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 15,773[49]. - The largest shareholder, China Fuma Machinery Group Co., Ltd., holds 92,256,920 shares, representing 42.10% of total shares[51]. - The company has no pledged or frozen shares among its top shareholders[51]. - The total share capital of the company is 21.912 million shares, with a registered capital of 21.912 million RMB[84]. Government Subsidies and Related Transactions - The company reported a government subsidy of ¥327,706.34 as part of its non-recurring gains and losses[18]. - The company reported a significant related party transaction amounting to ¥71,214,633.33, which accounts for 32.19% of similar transactions[42]. - The company has made a government subsidy adjustment, increasing "Other Income - Government Subsidy" by ¥327,706.34[46]. Market and Industry Outlook - The special vehicle industry is expected to show a slight recovery in 2017, while the motorcycle and general power machinery sectors face challenges[23]. - The motorcycle industry is experiencing a downward trend, with a significant impact from the rise of electric vehicles and cars[28]. - The company is focusing on innovation and market expansion, utilizing multiple channels to find new customers and promote new products[28]. Accounting Policies and Financial Reporting - The financial statements are prepared based on the actual transactions and events, in accordance with the accounting standards issued by the Ministry of Finance[86]. - The company’s accounting policies include revenue recognition, inventory measurement, and fixed asset depreciation methods[88]. - The company recognizes financial assets at fair value, with changes directly recorded in equity until the asset is derecognized, at which point the cumulative fair value changes are transferred to profit or loss[99]. - The company applies a percentage-based method for bad debt provisions, with specific percentages for different aging categories of receivables, such as 5% for receivables within one year and 100% for those over five years[105]. Employee Compensation and Benefits - The total short-term employee compensation at the end of the period was CNY 256,661.67, down from CNY 342,421.08, a decrease of about 25.1%[191]. - The total amount of employee benefits expenses increased significantly, with short-term compensation rising to CNY 22,667,995.79 from CNY 342,421.08[193]. - The total balance of the long-term employee compensation remained unchanged at CNY 0, indicating no liabilities in this category[200].