CORUN(SH:600478)2018-10-12 16:00Financial Performance - The company's operating revenue for the first half of 2018 was ¥683,459,458.22, a decrease of 9.29% compared to ¥753,415,227.17 in the same period last year[17]. - The net profit attributable to shareholders was -¥46,515,200.15, an improvement from -¥77,463,904.57 in the previous year[19]. - The company's total assets decreased by 5.50% to ¥6,367,560,830.26 from ¥6,738,428,966.08 at the end of the previous year[19]. - The weighted average return on net assets improved to -2.26%, up by 3.84 percentage points from -6.10% in the previous year[20]. - The net cash flow from operating activities was -¥21,428,095.63, showing a significant improvement from -¥201,331,919.17 in the same period last year[18]. - The company reported a net cash outflow from financing activities of -¥90,775,935.24, a significant decline from a cash inflow of ¥715,169,042.84 in the previous year[18]. - The company reported a net profit of RMB 3.34 million from its subsidiary Changde Liyuan New Materials, which specializes in nickel foam products[50]. - The company reported a significant increase in long-term equity investments from ¥307,911,569.54 to ¥362,007,761.36, an increase of approximately 17.4%[112]. - The company reported a net loss of CNY 94,535,963.65 for the first half of 2018, an improvement from a loss of CNY 115,056,421.05 in the previous year[119]. Expenses and Costs - Research and development expenses increased by 2.00% to ¥103,399,529.55 compared to ¥101,375,151.95 in the same period last year[18]. - The company's management expenses rose by 33.83% to ¥141,680,603.83 from ¥105,862,907.15 in the previous year[18]. - Operating costs decreased by 10.54% to ¥601,335,611.67 from ¥672,200,217.34, reflecting a corresponding decline in revenue[23]. - Financial expenses decreased by 21.78% to ¥33,258,589.95 from ¥42,519,227.11, attributed to reduced interest expenses[23]. - The total operating costs for the first half of 2018 were CNY 184,722,465.74, slightly lower than CNY 313,952,292.51 in the previous year[124]. Assets and Liabilities - Cash and cash equivalents decreased by 39.45% to ¥1,095,942,789.53 from ¥1,809,955,751.68 due to the repayment of short-term loans and increased fixed asset investments[21]. - Accounts receivable decreased by 20.10% to ¥293,754,209.84 from ¥367,639,515.72 as a result of adjustments in sales credit policies[22]. - Inventory increased by 15.19% to ¥336,997,065.44 from ¥292,557,889.82, primarily due to preparations for mass production of power batteries and civil batteries[22]. - The company's total liabilities decreased to CNY 1,452,022,435.15 from CNY 1,725,958,000.63, a reduction of 15.8%[117]. - The company's total assets at the end of the period were reported at 3,172,374.00 million RMB, indicating a slight increase from the previous period[135]. Strategic Initiatives and Partnerships - The company focuses on the research, design, production, and sales of core components for energy-saving and new energy vehicles, including nickel-hydrogen batteries and hybrid power systems[29]. - The company has established deep strategic partnerships with domestic automakers such as Geely, Changan, and FAW, with over 10 models currently in different stages of cooperative development[39]. - The company signed a cooperation agreement with FAW Car Co., Ltd. on January 29, 2018, to collaborate on hybrid power systems and related key components[70]. - A partnership was established with Geely Group on April 3, 2018, to utilize resources and technology in the development of hybrid vehicles, with ongoing prototype development[71]. Environmental Compliance - The company is actively involved in environmental protection measures and complies with pollution discharge standards[72]. - The company reported no exceedances in pollutant discharge limits for suspended solids, chemical oxygen demand, and ammonia nitrogen[72]. - The company has established pollution control facilities, including wastewater treatment plants and dust collection systems, which are operating well since their establishment in November 2012 and December 2016[74]. Corporate Governance and Shareholder Information - The company’s board of directors approved the proposal for capital increase and related transactions at the first extraordinary general meeting of 2018[66]. - The total amount of guarantees provided by the company, including those to subsidiaries, is CNY 37,260 million, which accounts for 18.27% of the company's net assets[69]. - The company reported a total comprehensive income loss of RMB 31,722,029.05 for the current period[139]. - The total number of ordinary shareholders reached 51,582 by the end of the reporting period[93]. Future Outlook and Market Position - The hybrid vehicle market (HEV and PHEV) is still in the cultivation phase, with significant potential for market share growth as policies and consumer demand evolve[31]. - The company plans to focus on new product development and market expansion strategies in the upcoming quarters[119]. - The company aims to strengthen talent development and performance evaluation systems to adapt to market changes and mitigate risks[53].