YSDZ(SZ:002289)2016-08-10 16:00Asset Restructuring - The company reported a significant asset restructuring event, leading to a continuous suspension of its stock since May 24, 2016, with the latest update on July 20, 2016, indicating ongoing uncertainty regarding the restructuring process[7]. - The company is actively working on a major asset restructuring, which is expected to impact future operations and market positioning[9]. - The company has committed to regular updates regarding the asset restructuring process, with announcements made every five trading days during the suspension period[7]. - The company plans to dispose of assets from its wholly-owned subsidiary, Yashi Technology, to optimize asset structure and reduce losses[33]. - The company intends to sell its stake in Yashi Technology to eliminate the impact of the audit opinion on its financial statements[73]. - The company plans to disclose a major asset restructuring proposal by August 19, 2016, but anticipates delays[148]. - As of the report date, the major asset restructuring work is ongoing and remains uncertain[149]. Financial Performance - The company's operating revenue for the current period is ¥683,534,189.77, a decrease of 54.02% compared to ¥1,486,562,058.87 in the same period last year[24]. - The net profit attributable to shareholders for the current period is -¥158,150,978.69, representing a decline of 507.43% from -¥26,035,951.60 in the previous year[24]. - The total assets at the end of the current period are ¥2,141,480,892.25, down 33.29% from ¥3,210,235,077.17 at the end of the previous year[24]. - The company's weighted average return on equity decreased to -32.17% from -1.57% in the previous year[24]. - The company reported a total revenue of CNY 212.28 million from its subsidiary, with a net profit loss of CNY 30.36 million[64]. - The company reported a total non-current asset balance of ¥654,492,224.12 as of June 30, 2016, down from ¥677,854,586.78 at the beginning of the period, representing a decrease of approximately 3.4%[175]. - The total liabilities decreased to CNY 1,720,952,975.65 from CNY 2,631,731,055.24, a reduction of about 35%[177]. Cash Flow and Investments - The net cash flow from operating activities improved to ¥102,146,608.96, a 165.89% increase from -¥155,023,934.78 in the same period last year[24]. - The net increase in cash and cash equivalents was -¥103,395,143.47, an improvement of 43.67% from -¥183,560,190.57 in the previous year[37]. - The company reported a significant decrease in cash and cash equivalents, with a balance of ¥302,121,134.04 as of June 30, 2016, down from ¥450,764,294.03 at the beginning of the period, representing a decline of approximately 33%[174]. - The company reported a total loan amount of RMB 150 million with an interest rate of 8.5% for a duration of 9 months[91]. - The net cash flow from financing activities is negative at CNY -196,835,231.84, compared to a positive cash flow of CNY 142,849,397.96 in the previous period[193]. Subsidiaries and Operations - The company has a total of six wholly-owned subsidiaries, indicating a diversified operational structure within the electronics sector[13]. - The company’s subsidiary, Shenzhen Yashi Technology Co., Ltd., has faced issues with accounts receivable, with overdue amounts reaching 194,682,350.09 CNY as of the audit report date[69]. - The subsidiary, Changsha Yushun Display Technology Co., Ltd., reported total assets of CNY 73.65 million and a net loss of CNY 27.16 million[64]. - The company has established a comprehensive product line including glass covers, touch screen sensors, touch screen modules, backlight modules, LCD display modules, and integrated touch display modules, covering the entire industry chain[41]. Shareholder and Governance Changes - The controlling shareholder changed to Zhongzhi Rongyun (Beijing) Investment Co., Ltd. on January 14, 2016[162]. - The company experienced a change in its board of directors, with several resignations and new appointments, including the election of Zhuo Qi as a director and Huang Xiaoqing as an independent director[135]. - The company plans to extend the stock buyback period for its senior management, aiming to increase their holdings by at least 500,000 shares[127]. - The company reported that a fire incident occurred at a warehouse leased by its wholly-owned subsidiary, Yashi Technology, but it did not significantly impact the company's operations or financial performance[133]. Compliance and Regulatory Matters - The company has not received any administrative regulatory measures from supervisory authorities during the reporting period[78]. - The financial report for the first half of 2016 was not audited[172]. - The company has committed to maintaining independent operational capabilities and resources to ensure sustainable business development[113]. Research and Development - The company's R&D investment decreased by 19.80% to ¥30,537,215.63 from ¥38,076,185.40 in the previous year[37]. - The company is engaged in the research, development, production, and sales of touch technology and related electronic components[65]. Related Party Transactions - The company engaged in related party transactions amounting to 318.75 million CNY, with a market-based pricing principle and an annual interest rate of 8.5%[90]. - The total amount of related party transactions is expected to be RMB 2,143.73 million, with no significant deviations from market prices reported[92]. Market and Competitive Environment - The company noted that the upstream panel manufacturers' capacity release and intensified competition have significantly impacted profitability in the industry[58]. - The company is facing challenges due to price competition and market changes, leading to a shift in orders towards larger manufacturers[58].