ST天成(600112) - 2018 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2018 was ¥262,768,457.04, a decrease of 28.52% compared to ¥367,629,964.18 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was -¥29,649,416.61, representing a decline of 198.42% from ¥30,126,440.27 in the previous year[16]. - Basic earnings per share for the reporting period were -¥0.0582, a decrease of 198.31% from ¥0.0592 in the same period last year[17]. - The company reported a net loss of CNY 29,651,217.80 for the first half of 2018, compared to a net profit of CNY 29,981,701.94 in the previous year[85]. - The comprehensive income totalled CNY 23,725,771.78, a decline from CNY 41,613,124.41 in the same period last year[85]. - The company experienced an operating loss of CNY 34,710,723.43, contrasting with an operating profit of CNY 27,996,974.61 in the previous year[85]. Cash Flow and Assets - The net cash flow from operating activities increased significantly to ¥9,800,293.53, up 612.85% from ¥1,374,803.77 in the same period last year[16]. - As of the end of the reporting period, cash and cash equivalents decreased by 59.78% to CNY 75,267,698.69, down from CNY 187,122,450.14[36]. - The company's cash and cash equivalents dropped to CNY 75,267,698.69 from CNY 187,122,450.14, a decrease of approximately 59.9%[76]. - The ending balance of cash and cash equivalents decreased to 45,121,206.17 RMB from 93,777,445.45 RMB, indicating a decline of approximately 51.9%[91]. - The total assets at the end of the reporting period were ¥2,794,960,542.36, a slight increase of 0.33% from ¥2,785,655,018.42 at the end of the previous year[16]. - Current assets totaled CNY 1,005,807,013.17, down from CNY 1,038,041,870.63, indicating a decrease of approximately 3.2%[76]. Liabilities and Equity - Total liabilities decreased to CNY 1,616,078,369.09 from CNY 1,630,498,616.93, a reduction of approximately 0.9%[78]. - The company's equity attributable to shareholders increased to CNY 1,179,241,520.02 from CNY 1,155,513,947.05, a growth of about 2.0%[78]. - The total amount of guarantees provided by the company, including those to subsidiaries, is RMB 214.53 million, which accounts for 18.19% of the company's net assets[60]. - The total equity at the end of the reporting period was RMB 944,949,632.05, with a decrease of RMB 22,768,360.30 compared to the previous period[101]. Operational Highlights - The company is one of the largest production bases for on-load tap changers in China, with an annual production capacity of 5,000 units for on-load tap changers and 40,000 units for medium voltage components[26]. - The company has established a stable cooperation relationship with suppliers to ensure the quality and stability of component supply, effectively managing procurement costs[23]. - The company is actively involved in the mining sector, particularly in zircon-titanium and molybdenum-nickel mining, with significant market potential in the zircon-titanium sector due to rising demand and prices[25]. - The company has launched new product series such as ZVM, ZVMD, ZMG, ZMD, ZMB, ZMT, and ZVV, enhancing its product variety and competitiveness in the market[27]. - The company maintained the highest market share in high-voltage products for both State Grid and Southern Grid[30]. Research and Development - Research and development expenses increased by 30.66% to ¥12,700,965.91, reflecting the company's commitment to enhancing R&D investment[34]. - The company has implemented a market-oriented R&D management system, significantly improving operational efficiency and core competitiveness[24]. Regulatory and Compliance - The company is currently under investigation by the China Securities Regulatory Commission regarding discrepancies between its 2016 annual performance forecast and the actual report[54]. - The company received a public reprimand from the Shanghai Stock Exchange for its financial disclosures, affecting several key executives[55]. - The company has not reported any major litigation or arbitration matters during the reporting period[54]. Changes in Accounting Policies - The company reported a significant change in accounting policies due to the implementation of new enterprise accounting standards, affecting non-current assets held for sale and government grants[196]. - The company has made adjustments to its financial reporting formats as per the new accounting standards issued by the Ministry of Finance in 2017, impacting the presentation of asset disposal gains in the income statement[196]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 44,813[68]. - The top ten shareholders held a total of 142,000,000 shares, with the largest shareholder, Yinhai Tiancheng Group, holding 93,403,800 shares, accounting for 18.34% of the total[69].