FLDT(SH:600228)2015-08-24 16:00Financial Performance - The company's operating revenue for the first half of 2015 was ¥302,445,639.55, a decrease of 9.07% compared to ¥332,609,723.44 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was -¥5,776,789.02, showing an improvement from -¥21,348,048.92 year-on-year[16]. - The net cash flow from operating activities increased significantly to ¥32,308,311.06, a rise of 708.97% compared to ¥3,993,739.26 in the previous year[16]. - The total assets at the end of the reporting period were ¥610,073,891.05, down 1.93% from ¥622,061,438.42 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company decreased to ¥77,062,724.73, a decline of 4.77% from ¥80,919,718.85[17]. - The basic earnings per share for the first half of 2015 was -¥0.02, an improvement from -¥0.09 in the same period last year[18]. - The weighted average return on net assets was -7.40% for the reporting period[18]. - The total operating revenue for the first half of 2015 was CNY 302,445,639.55, a decrease of 9.05% compared to CNY 332,609,723.44 in the same period last year[77]. - The company reported a net loss of CNY 579,737,002.72 for the period, compared to a loss of CNY 568,872,394.34 in the previous period[75]. - The company reported a total of 11,557,176.73 RMB in other receivables, an increase from 10,525,999.23 RMB, reflecting a growth of about 9.8%[71]. Revenue and Sales - The sales revenue from acrylamide decreased by 9.04%, primarily due to a decline in sales prices compared to the previous year[31]. - The gross margin for acrylamide products was 13.51%, which increased by 6.10 percentage points compared to the previous year[31]. - The northern region's revenue fell by 28.43%, attributed to significant declines in both sales volume and prices due to market downturns[33]. - Jiangxi Changjiu Agricultural Science and Technology Co., Ltd. (Changjiu Agricultural Science) achieved revenue of RMB 298 million in the first half of 2015, turning a profit of RMB 4.75 million compared to a loss in the previous year[106]. Assets and Liabilities - The company's total assets as of June 30, 2015, were CNY 610,073,891.05, a decline from CNY 622,061,438.42 at the beginning of the year[73]. - Total liabilities decreased to CNY 451,297,596.36 from CNY 462,396,442.61, reflecting a reduction of 2.37%[73]. - The total equity attributable to shareholders of the parent company was CNY 77,062,724.73, down from CNY 80,919,718.85, indicating a decrease of 3.43%[73]. - The company reported a decrease in cash and cash equivalents from 32,880,307.79 RMB to 21,854,497.89 RMB, a decline of approximately 33.5%[71]. - Accounts receivable increased from 25,168,872.82 RMB to 35,368,135.11 RMB, reflecting a growth of about 40.5%[71]. - Inventory decreased from 52,170,338.96 RMB to 45,162,111.31 RMB, a reduction of approximately 13.5%[71]. Government Support and Subsidies - The company received government subsidies amounting to ¥3,000,000.00, which were included in the current period's profit[20]. Related Party Transactions - The total amount of related party transactions reached CNY 1,656,173.50, indicating ongoing business necessities with related parties[41]. - The company reported a related party debt of CNY 188,940,154.21 at the end of the reporting period, reflecting a decrease of CNY 1,172,960.03[44]. - The company provided funding to related parties amounting to CNY 30,080.44 during the reporting period[44]. - The company’s reliance on related parties for business operations is minimal, ensuring independence[41]. - The company’s related party transactions do not impact its independence[41]. Management and Governance - The company has been operating under a strict governance structure in compliance with relevant laws and regulations[57]. - The company has not experienced any significant changes in its share capital structure during the reporting period[59]. - The company has not made any changes to its accounting policies or estimates during the reporting period[58]. - The company appointed Gao Liping as a new supervisor, replacing Zhu Liyan who resigned due to work changes[66]. Future Plans and Strategies - The company plans to focus on developing the acrylamide industry through its subsidiary, Changjiu Agricultural Science, to enhance sustainable operational capabilities[23]. - The company aims to improve asset quality by actively disposing of idle assets to increase cash flow and support ongoing operations[24]. - The company is actively seeking financial support from major shareholders to ensure ongoing operational capabilities[108]. - The company is committed to optimizing its asset structure by classifying and disposing of idle assets to reduce debt burden and improve cash flow[108]. - The company is enhancing its internal control system to improve management levels and ensure compliance with internal regulations[108]. Financial Reporting and Compliance - The financial statements were approved by the board of directors on August 21, 2015, indicating timely reporting practices[102]. - The company includes all subsidiaries under its control in the consolidated financial statements[117]. - The company has reduced the number of subsidiaries in the consolidated financial statements by one compared to the previous period[104]. Taxation - The company has a corporate income tax rate of 15% for its subsidiaries Jiangsu Nantian Agricultural Chemical Co., Ltd. and Rudong Nantian Agricultural Chemical Co., Ltd.[196]. - Jiangxi Changjiu Agricultural Chemical Co., Ltd. was recognized as a high-tech enterprise, allowing it to enjoy a reduced income tax rate of 10%, effective until October 8, 2014, after which the rate increased to 25%[197]. - Jiangsu Nantian Agricultural Chemical Co., Ltd. received high-tech enterprise certification, allowing it to maintain a 10% income tax rate until August 14, 2015[198]. - Rudong Nantian Agricultural Chemical Co., Ltd. was certified as a high-tech enterprise with a valid period from September 2, 2014, to September 1, 2017, also benefiting from a 10% income tax rate[198].