FARATRONIC(SH:600563)2015-08-05 16:00Financial Performance - The company's operating revenue for the first half of 2015 was CNY 676,159,318.53, a decrease of 6.36% compared to CNY 722,047,878.53 in the same period last year[15]. - The net profit attributable to shareholders of the listed company was CNY 152,883,814.01, down 0.80% from CNY 154,111,343.91 year-on-year[15]. - The basic earnings per share for the first half of 2015 was CNY 0.6795, a decrease of 0.79% from CNY 0.6849 in the same period last year[15]. - The weighted average return on equity decreased to 8.19%, down 1.07 percentage points from 9.26% in the previous year[15]. - The net cash flow from operating activities increased by 74.80% to CNY 188,160,753.57, compared to CNY 107,643,963.14 in the previous year[15]. Asset and Liability Management - The company's total assets decreased by 1.64% to CNY 1,989,770,805.17 from CNY 2,022,858,719.03 at the end of the previous year[15]. - Total liabilities decreased from CNY 217,634,638.25 to CNY 193,673,903.89, a reduction of approximately 11%[61]. - Current liabilities decreased from CNY 205,520,358.32 to CNY 181,559,623.96, representing a decline of about 12%[61]. - The company's total current assets as of June 30, 2015, amount to ¥1,473,638,393.03, a decrease from ¥1,497,168,182.61 at the beginning of the period[60]. - The company's short-term loans decreased by 38.46% to ¥8,000,000.00, as a subsidiary repaid ¥5,000,000.00 in bank loans[23][24]. Revenue Breakdown - Revenue from the electronic components segment was ¥664,420,621.84, reflecting a decrease of 6.53% year-on-year, while the gross margin improved by 0.89 percentage points[27][28]. - Domestic revenue was ¥385,306,799.70, down 1.79%, while international revenue fell by 12.36% to ¥279,113,822.14[30]. - Total revenue from sales of goods and services was CNY 531,036,962.30, an increase of 8.7% from CNY 488,601,216.30 in the same period last year[76]. Investment and Cash Flow - Investment activities generated a net cash flow of -¥15,922,344.58, an improvement of 87.38% year-on-year[23]. - The company reported an investment income of ¥11,820,292.16, which is a significant increase of 444.52% compared to the previous year[23]. - The company’s cash flow from financing activities was -¥172,341,354.44, a decrease of 8.05% compared to the previous year[23]. - The company reported a significant increase in cash received from investment recoveries, totaling CNY 457,000,000, compared to CNY 81,828,440.92 in the previous year[76]. Shareholder Information - The company implemented a cash dividend distribution of 157.5 million yuan based on the 2014 annual profit distribution plan[43]. - The top shareholder, Xiamen Farah Development Co., holds 84,000,000 shares, representing 37.33% of total shares[52]. - The company has 14,232 shareholders as of the end of the reporting period[50]. Research and Development - The company invested 3% of its revenue annually in R&D, focusing on original development and extending capabilities into materials and equipment[31]. - The company has a stable technical and management team with over 40 years of experience in film capacitor production, enhancing its competitive edge[31]. Governance and Compliance - The company has established a governance structure including a board of directors and various committees to enhance operational efficiency[87]. - The financial statements are prepared based on the accrual basis of accounting, ensuring accurate reflection of financial performance[91]. - The company’s accounting policies comply with the relevant accounting standards, ensuring transparency and reliability in financial reporting[94]. Inventory and Receivables - The inventory at the end of the period is valued at CNY 130,447,544.20, with a provision for inventory depreciation of CNY 337,971.63[191]. - The total accounts receivable at the end of the period amounted to ¥350,227,592.48, with a bad debt provision of ¥18,199,062.17, resulting in a provision ratio of 5.20%[176]. - The aging analysis of accounts receivable shows that the amount overdue for more than 1 year is significant, with a total of ¥350,227,592.48, and the provision for bad debts is calculated based on different aging categories[176]. Impairment and Provisions - The company reported an increase in asset impairment losses to ¥1,158,768.27, up 131.97% year-on-year due to increased bad debt provisions[23][24]. - The company made a provision for bad debts amounting to ¥1,191,961.80 during the current period[177]. - The provision for bad debts is calculated using the aging analysis method, with specific percentages applied to different aging categories[176]. Miscellaneous - The company has not made any changes to its share capital structure during the reporting period[49]. - The company has no significant litigation or arbitration matters during the reporting period[45]. - The company has not reported any significant recoveries or reversals of bad debt provisions during the current period[177].