SHTD(SH:600647)2014-08-19 16:00Financial Performance - The company reported a total revenue of CNY 65,147,853.28 for the first half of 2014, a decrease of 50.10% compared to CNY 130,559,726.55 in the same period last year[16]. - The net profit attributable to shareholders was CNY -18,531,058.95, representing a decline of 294.16% from CNY 9,544,119.24 in the previous year[16]. - The basic earnings per share were CNY -0.1332, down 294.17% from CNY 0.0686 year-on-year[14]. - The company experienced a net cash flow from operating activities of CNY -47,293,810.50, a significant drop of 429.14% compared to CNY 14,368,781.64 in the same period last year[16]. - The decline in profit was primarily attributed to reduced sales profits from subsidiaries, including Tongda Trading and Guangzhou Deyu, as well as land value tax provisions[20]. - The net profit for the first half of 2014 was a loss of CNY 31,593,987.18, compared to a profit of CNY 20,645,015.83 in the previous year, indicating a significant decline[53]. - The comprehensive income total for the first half of 2014 was a loss of CNY 28,596,271.06, contrasting with a gain of CNY 20,881,785.83 in the same period last year[53]. - The net profit for the current period is CNY 9,544,119.24, compared to a net profit of CNY 20,645,015.83 in the same period last year, indicating a decrease of about 53.8%[69]. - The total comprehensive income for the current period amounts to CNY 20,881,785.83, which includes other comprehensive income of CNY 236,770.00[69]. Assets and Liabilities - The total assets decreased by 7.29% to CNY 432,039,655.23 from CNY 466,008,552.02 at the end of the previous year[16]. - The company's total liabilities amounted to CNY 101,709,151.70, while total equity was CNY 170,140,048.10, resulting in a total balance sheet of CNY 271,849,199.80[50]. - Total liabilities increased from CNY 197,864,522.30 to CNY 204,801,620.28, an increase of about 3.5%[46]. - The company's total equity decreased from CNY 268,144,029.72 to CNY 227,238,034.95, a decline of approximately 15.3%[46]. - The company reported a net asset value of CNY 192,862,789.65, down 11.75% from CNY 218,553,611.63 at the end of the previous year[16]. Cash Flow - The company's cash and cash equivalents decreased from CNY 130,899,406.62 at the beginning of the year to CNY 99,840,727.89, representing a decline of approximately 23.7%[44]. - Cash inflows from operating activities totaled CNY 83,646,718.20, a slight decrease from CNY 88,963,982.48 in the previous year[58]. - The net cash flow from operating activities was -47,293,810.50 RMB, a significant decrease compared to 14,368,781.64 RMB in the previous period[59]. - The ending balance of cash and cash equivalents was 99,840,727.89 RMB, down from 130,899,406.62 RMB at the beginning of the period[60]. - The company reported a net decrease in cash and cash equivalents of -31,058,678.73 RMB for the period[60]. Investments and Restructuring - The company is actively pursuing major asset restructuring in collaboration with its controlling shareholder and relevant parties[19]. - The company has invested ¥53 million in government bond reverse repurchase operations, yielding an investment return of ¥41,100[25]. - The company plans to utilize its capital reserves for future investments and operational needs[72]. - The company is exploring new strategies for market expansion and product development to improve financial performance moving forward[72]. Shareholder and Equity Information - The company has no major litigation or arbitration matters during the reporting period[31]. - The company has no fundraising or non-fundraising investment projects during the reporting period[29]. - The company’s profit distribution plan for 2013 was to distribute cash dividends of ¥0.73 per 10 shares, completed in August 2014[28]. - The total equity attributable to the parent company at the end of the reporting period is CNY 241,495,682.61, an increase from CNY 235,221,074.28 at the end of the previous year, reflecting a growth of approximately 2.4%[70]. - The company has no changes in the number of restricted shares during the reporting period[38]. Accounting Policies and Compliance - The financial statements are prepared based on the going concern assumption, adhering to the accounting standards set by the Ministry of Finance[78]. - The company’s financial reports comply with the disclosure requirements of the China Securities Regulatory Commission[79]. - The accounting policies are based on historical cost measurement, with provisions for impairment losses where applicable[78]. - The company determines the scope of consolidated financial statements based on control, which includes the company and all subsidiaries[85]. Inventory and Receivables - The company’s inventory at the end of the period is valued at CNY 104,366,040.21, with a significant portion in development products[184]. - The total amount of accounts receivable at the end of the period was RMB 13,250,997.40, with a bad debt provision of RMB 680,535.02, indicating a provision ratio of approximately 5.14%[165]. - The aging analysis of receivables shows that 58.07% of the receivables due within one year have a provision for bad debts, amounting to CNY 2,475,599.38[176]. - The company fully provided for bad debts on other receivables totaling CNY 11,653,880.00, indicating a 100% provision rate due to extremely low recovery possibilities[175]. Other Financial Information - The company has no changes in accounting policies or estimates reported[149]. - The company has no tax incentives or approvals reported[150]. - The main tax rates include: Value-added tax at 17%, Business tax at 5%, Corporate income tax at 25%[150].