Tech-Bank(SZ:002124)2014-11-11 16:00Financial Performance - The company's operating revenue for the first half of 2014 was ¥1,261,096,688.81, representing a 58.23% increase compared to ¥797,009,716.74 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was -¥29,571,615.10, a decrease of 194.85% from -¥10,029,286.41 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥55,054,589.83, reflecting a decline of 365.28% compared to -¥11,832,506.00 in the same period last year[20]. - The net cash flow from operating activities improved to -¥36,484,740.07, a 64.17% increase from -¥101,829,217.32 in the previous year[20]. - The basic earnings per share were -¥0.140, a decrease of 185.71% from -¥0.049 in the same period last year[20]. - The diluted earnings per share were also -¥0.140, reflecting the same percentage decrease of 185.71% compared to -¥0.049 in the previous year[20]. - The weighted average return on net assets was -5.87%, a decline of 3.45% from -2.42% in the same period last year[20]. - The comprehensive gross margin decreased to 7.9%, down 4.02% year-on-year[30]. - The net profit for the period was a loss of ¥31,947,172.80, compared to a loss of ¥6,993,906.73 in the previous period, indicating a worsening financial performance[124]. Revenue and Sales - The company achieved a revenue of 1.26 billion yuan, representing a year-on-year increase of 58.23%[30]. - The sales volume of various feed products reached 154,800 tons, an increase of 34.46%[31]. - The sales revenue from feed and feed raw materials was 721 million yuan, up 36.72% year-on-year[31]. - The company's revenue from feed and feed raw materials reached ¥720.63 million, with a year-on-year increase of 36.72% and a gross margin of 15.39%[37]. - The food processing segment reported revenue of ¥32.07 million, a decrease of 5.81% year-on-year, with a gross margin of 10.66%[37]. - The biological products segment achieved revenue of ¥47.69 million, reflecting a year-on-year increase of 17.16% and a gross margin of 81.59%[37]. - Domestic revenue totaled ¥1.20 billion, representing a year-on-year increase of 60.56%, while international revenue was ¥48.13 million, up 36.15%[37]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,903,231,358.76, an increase of 2.76% from ¥1,852,198,729.48 at the end of the previous year[20]. - The total liabilities rose to CNY 1,339,291,598.98 from CNY 1,236,681,037.29, reflecting an increase of about 8.3%[118]. - The company's equity decreased from CNY 615,517,692.19 to CNY 563,939,759.78, a decline of approximately 8.4%[118]. - The total current liabilities increased from CNY 1,234,322,238.90 to CNY 1,337,001,821.35, marking an increase of about 8.3%[118]. - The total assets of the company at the end of the reporting period are 891,034.69 million yuan, up from 800,000 million yuan in the previous year, indicating a growth of approximately 11.4%[141]. Investments and Acquisitions - The acquisition cost for Agfeed Industries, Inc. was CNY 288.62 million, with identifiable net assets valued at CNY 344.80 million at the acquisition date[55]. - The company recognized an increase in non-operating income of CNY 56.18 million due to the acquisition of Agfeed Industries[55]. - The company acquired Agfeed Industries, Inc. for a transaction price of 28,862.2 million CNY, which is expected to significantly enhance its feed and biological products business[69]. - The company completed the acquisition of 100% equity in Aigefei International, which had total assets of 384,490,000 and net assets of 294,800,000 at the end of the reporting period[96]. - The company invested CNY 19.9 million in the Chizhou breeding pig farm project, with a cumulative investment of CNY 48.36 million, achieving 81.96% project progress[52]. Research and Development - Research and development expenses increased by 17.19% to 26.60 million yuan[34]. - The company has a strong focus on R&D, having established partnerships with research institutions and universities to enhance its product offerings[39]. - The company launched a new vaccine product, Yuanlijiac, utilizing advanced production technologies[29]. Corporate Governance and Compliance - The company has maintained a strong governance structure and has not faced any administrative regulatory measures during the reporting period[65]. - There were no significant litigation or arbitration matters reported during the period[66]. - The company has not engaged in any major asset transactions other than the acquisition of Agfeed[73]. - The company did not undergo an audit for the semi-annual financial report[114]. Stock Options and Shareholder Information - The first stock option incentive plan was approved on January 18, 2013, with an initial grant of 10 million options, later adjusted to 9.725 million options[74]. - As of July 31, 2014, a total of 2,522,055 shares were exercised by incentive recipients, raising approximately RMB 20.81 million for the company[79]. - The total number of stock options available after adjustments was reduced to 872.5 million options by March 25, 2014[78]. - The company has not engaged in any related party transactions during the reporting period[81]. - The largest shareholder, Zhang Banghui, holds 24.09% of the shares, amounting to 49,500,000 shares[104]. - The second-largest shareholder, Wu Tianxing, holds 14.60% of the shares, totaling 30,000,000 shares, with 20,000,000 shares pledged[104]. Cash Flow and Financial Position - Cash flow from operating activities was ¥1,270,272,683.71, compared to ¥835,268,303.77 in the prior period, indicating a strong increase in cash inflow[129]. - The company reported a net cash outflow from investing activities of -29,544,039.14 CNY, compared to -56,607,414.52 CNY in the previous period, indicating a reduction in cash used for investments[131]. - The ending balance of cash and cash equivalents was 141,710,522.22 CNY, down from 226,344,525.62 CNY at the beginning of the period[131]. - The company reported a net increase in cash and cash equivalents of -84,634,003.40 CNY, compared to -70,892,597.19 CNY in the previous period[131].