WSBE(SH:600421)2015-08-14 16:00Financial Performance - The company's operating revenue for the first half of 2015 was CNY 17,938,584.68, a decrease of 36.20% compared to CNY 28,118,973.12 in the same period last year[17]. - The net profit attributable to shareholders was CNY 554,891.89, down 50.64% from CNY 1,124,274.39 year-on-year[17]. - The net cash flow from operating activities was negative at CNY -10,408,871.02, a decline of 614.31% compared to CNY 2,023,860.49 in the previous year[17]. - Basic earnings per share were CNY 0.003, a decrease of 50% compared to CNY 0.006 in the same period last year[18]. - The company's gross profit margin for internal combustion engine parts was 42.38%, a decrease of 55.97% compared to the previous year[26]. - Revenue from internal combustion engine parts was CNY 17,938,584.68, representing a decrease of 36.20% year-on-year[26]. - The net profit for the first half of 2015 was CNY 1,037,507.16, a decline of 41.0% from CNY 1,761,433.09 in the same period last year[58]. - The net profit attributable to the parent company was CNY 554,891.89, down 50.7% from CNY 1,124,274.39 in the previous year[58]. - The total profit for the current period is -892,480.30 RMB, a decrease from 2,709,818.36 RMB in the previous period, indicating a decline of approximately 132.9%[62]. - The total comprehensive income for the current period is -892,480.30, indicating a loss[72]. Assets and Liabilities - The company's total assets decreased by 10.16% to CNY 83,147,042.33 from CNY 92,546,648.00 at the end of the previous year[17]. - Current assets totaled CNY 28,612,629.07, down from CNY 37,539,009.63, indicating a reduction of about 23.8%[52]. - The company's inventory increased to CNY 14,733,555.09 from CNY 9,552,493.92, representing a growth of approximately 54.5%[52]. - Total liabilities decreased to CNY 63,717,094.61 from CNY 74,154,207.44, showing a decline of around 14.1%[53]. - The accounts payable decreased from CNY 17,467,935.41 to CNY 12,417,240.71, a reduction of about 29.0%[53]. - The company's cash and cash equivalents decreased from CNY 13,367,231.53 to CNY 2,315,198.12, a significant drop of approximately 82.7%[52]. - The total liabilities at the end of the period amount to CNY 5,331,603.16, down from CNY 6,605,506.03 at the beginning of the period, representing a decrease of 19.3%[177]. - The total other payables at the end of the period are CNY 39,480,482.18, down 13.0% from CNY 45,741,024.87 at the beginning of the period[178]. Shareholder and Equity Information - The net assets attributable to shareholders increased by 10.17% to CNY 6,011,693.31 from CNY 5,456,801.42 at the end of the previous year[17]. - The company’s major shareholder, Wuhan New Generation Technology Co., Ltd., increased its shareholding to 21.59% of the total shares by acquiring 9,784,689 shares[34]. - The total equity attributable to shareholders of the parent company was negative CNY 2,102,103.40, compared to negative CNY 1,209,623.10 at the beginning of the year[56]. - The total equity at the end of the current period is 195,848,889.64 CNY, with minority interests accounting for 28,032,041.86 CNY[69]. - The total change in equity for the current period is 1,669,927.09 CNY, indicating a positive trend in overall equity[70]. - The total capital surplus remains unchanged at CNY 195,848,889.64, indicating no new capital inflow or adjustments during the period[183]. Expenses and Cost Management - The company's sales expenses increased by 432.53% to CNY 2,770,832.21, attributed to the provision for product quality assurance[24]. - The company's management expenses rose by 23.35% to CNY 3,315,036.65 compared to the previous year[24]. - The total operating costs for the first half of 2015 were CNY 16,475,857.22, down 38.3% from CNY 26,678,914.63 in the previous year[58]. - The management expenses for the current period are CNY 3,315,036.65, an increase from CNY 2,687,499.73 in the previous period[193]. - The total sales expenses for the current period are CNY 2,770,832.21, significantly higher than CNY 520,310.28 in the previous period, indicating an increase of 433.5%[192]. Government Subsidies and Financial Assistance - The company reported a government subsidy of CNY 258,000 recognized in the current period[19]. - The company recorded government subsidies of CNY 258,000.00 in the current period, compared to CNY 50,000.00 in the previous period[197]. Accounting Policies and Financial Reporting - The company has not made any capital contributions or reductions during the current period, with a total of -91,506.00 CNY recorded[70]. - The company has not reported any changes in the controlling shareholder or actual controller during the reporting period[46]. - The company has not reported any major litigation or bankruptcy restructuring matters[31]. - The company continues to comply with relevant laws and regulations regarding corporate governance[36]. - The company has not recognized any impairment losses for assets in the current period, maintaining a stable asset valuation[196]. - The company has made no changes to significant accounting policies, but there was a change in accounting estimates regarding the depreciation period of machinery and equipment effective from January 1, 2015[142]. Inventory and Asset Management - The total inventory at the end of the period is CNY 15,082,200.86, an increase from CNY 9,901,139.69 at the beginning of the period, representing a growth of 52.1%[159]. - The raw materials account for CNY 1,729,833.29 in book value after accounting for a provision for decline in value of CNY 348,645.77, unchanged from the beginning of the period[159]. - The company's inventory increased to CNY 14,733,555.09 from CNY 9,552,493.92, representing a growth of approximately 54.5%[52]. - The company assesses the impairment of inventory on an individual basis, except for large quantities of low-value items which are assessed by category[108]. Future Outlook and Strategic Developments - Future outlook and guidance were not explicitly detailed in the provided documents, indicating a need for further clarification in subsequent communications[62]. - The company has not reported any new product launches or technological advancements in the current earnings call[62]. - The company has not disclosed any new product developments or market expansion strategies in the current report[140].