FLDT(SH:600228)2018-08-17 16:00Financial Performance - The company's operating revenue for the first half of 2018 was RMB 268,172,297.46, representing a 9.91% increase compared to RMB 243,993,911.00 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was RMB 3,714,102.87, a significant recovery from a loss of RMB 14,167,056.31 in the previous year[18]. - The net cash flow from operating activities was RMB 5,818,411.36, improving from a negative cash flow of RMB 11,973,389.11 in the same period last year[18]. - Basic earnings per share improved to RMB 0.02 from a loss of RMB 0.06 in the same period last year[18]. - The weighted average return on net assets was 6.82%, recovering from -77.18% in the previous year[18]. - The company achieved operating revenue of RMB 268.17 million, an increase of 9.91% compared to the same period last year[28]. - The net profit attributable to the parent company was RMB 3.71 million, marking a turnaround from a loss in the previous year[28]. - The company reported a gross profit margin of approximately 3.0% for the first half of 2018, compared to a negative margin in the previous year[92]. - Net profit for the first half of 2018 was CNY 8,414,416.23, a significant recovery from a net loss of CNY 16,922,304.66 in the same period last year[92]. - The total comprehensive income for the current period is -5,671,144.98, an improvement from -23,319,872.87 in the previous period, indicating a recovery of approximately 76%[95]. Assets and Liabilities - The total assets decreased by 8.47% to RMB 290,512,371.53 from RMB 317,397,415.59 at the end of the previous year[18]. - The total assets increased to CNY 100,225,923.76 from CNY 89,029,058.33, reflecting a growth of 12.5% year-over-year[89]. - Total liabilities rose to CNY 106,552,436.78, up from CNY 89,684,426.37, indicating an 18.8% increase[89]. - The company's total equity increased from ¥119,695,893.64 to ¥128,811,049.66, an increase of about 7.5%[85]. - The company's total liabilities decreased from ¥197,701,521.95 to ¥161,701,321.87, reflecting a decline of about 18.2%[85]. - Cash and cash equivalents decreased by 22.46% to CNY 50,929,862.60, accounting for 17.53% of total assets[34]. - Accounts receivable increased by 49.13% to CNY 32,125,732.67, representing 11.06% of total assets[34]. - Short-term borrowings decreased by 25.86% to CNY 43,000,000.00, which is 14.80% of total assets[34]. - The company reported a decrease in unallocated profits to CNY -553,024,975.37, indicating challenges in profit retention[103]. Production and Sales - The total production of acrylamide was 17,751.06 tons, a decrease of 21.91% year-on-year, while total sales were 17,704.13 tons, down 18.02%[29]. - The revenue from Changjiu Agricultural Science reached RMB 263.77 million, an increase of 8.12% year-on-year[29]. - The company expects a total production decline of 15-25% for the year due to the merger of production lines in Nanchang and Rudong[30]. - The company signed a lease agreement with the related party Wenxin Huace for office space in Beijing, with a total lease amount of RMB 8.974 million for a duration of 10 years[62]. Research and Development - The company invested RMB 8.23 million in R&D, a significant increase of 411.95% compared to the previous year[31]. Environmental Compliance - The company’s environmental discharge data includes COD at 26.7 tons/year, ammonia nitrogen at 1.76 tons/year, and total wastewater at 63,021 tons/year, with pollution discharge effectively at zero during the reporting period due to the closure of production facilities[62]. - The company has implemented strict environmental monitoring and management practices, ensuring all pollutants are discharged within regulatory limits[69]. - Jiangsu Changjiu Agricultural Science's production facility received environmental impact approval in April 2011 and passed inspection in 2015[67]. - The company has established a complete emergency response plan for environmental incidents, which was re-registered in 2017[68]. Corporate Governance - The company appointed Lu Qi as the new General Manager and Li Ji as the Executive Vice General Manager and Secretary of the Board during the reporting period[78]. - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital for the reporting period[5]. - The company reported no significant litigation or arbitration matters during the reporting period[52]. - The company has not disclosed any new employee stock ownership plans or other incentive measures during the reporting period[52]. - The company has not reported any significant changes in its integrity status for the reporting period[52]. Financial Management - The company’s financial expenses decreased by 71.05% due to a reduction in overall debt scale and interest expenses[31]. - The company incurred sales expenses of CNY 10,929,720.33, which increased from CNY 8,210,809.31 in the previous year[91]. - The company reported a significant reduction in financial expenses, down to CNY 1,290,356.38 from CNY 4,457,866.62 in the previous year[91]. - The company raised 68,600,000.00 in cash from borrowings, compared to 30,000,000.00 in the previous period, an increase of about 128%[97]. Related Party Transactions - The company’s total amount of related party transactions in utility expenses was RMB 238.49393 million, with significant transactions involving Jiangxi Jiang'an Chemical and Changjiu Group[56]. - The company’s related party debt to Jiangxi Changjiu Chemical was RMB 2,068,028.18, with a historical borrowing reason cited[59]. - The company’s total expected management service fee for related party transactions in 2018 was projected to be no more than RMB 16 million[53]. Accounting Policies - The financial statements are prepared based on the accrual basis of accounting, in accordance with the relevant accounting standards[116]. - The company’s accounting period runs from January 1 to December 31 each year[119]. - The company’s accounting currency is Renminbi (RMB)[121]. - The company recognizes deferred tax assets related to deductible temporary differences if new information indicates that the economic benefits can be realized within 12 months post-acquisition, reducing goodwill accordingly[125]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 16,890[73]. - Jiangxi Changjiu Group Co., Ltd. holds 55,240,838 shares, representing 22.89% of the total shares, with 43,980,000 shares pledged[74]. - The top ten shareholders include individuals with varying shareholdings, with the largest individual shareholder holding 9,262,739 shares, accounting for 3.84%[74].