FORYOU(SZ:002906)2018-08-29 16:00Financial Performance - The company's operating revenue for the reporting period was ¥1,616,616,816.12, a decrease of 17.77% compared to ¥1,966,005,677.86 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was ¥14,726,003.77, down 89.16% from ¥135,802,279.38 year-on-year[16]. - The net profit after deducting non-recurring gains and losses was -¥10,183,160.44, a decline of 108.55% compared to ¥119,103,204.90 in the previous year[16]. - Basic earnings per share decreased by 91.18% to ¥0.03 from ¥0.34 in the previous year[16]. - Total revenue for the reporting period was ¥1,616,616,816.12, a decrease of 17.77% compared to ¥1,966,005,677.86 in the same period last year[39]. - The company reported a total comprehensive income of CNY 16,582,496.90, down from CNY 130,173,647.37 in the same period last year[150]. - The company reported a net profit margin of 12% for the first half of 2018, slightly down from 13% in the previous year[78]. Cash Flow and Assets - The net cash flow from operating activities was ¥14,556,231.08, a significant improvement of 103.78% from -¥385,301,615.65 in the same period last year[16]. - Cash and cash equivalents at the end of the reporting period were ¥547,463,104.75, down 3.72% from ¥760,122,985.86 in the previous year[45]. - Accounts receivable decreased to ¥860,151,409.92, reflecting a 4.14% reduction due to lower sales revenue[45]. - Inventory increased to ¥510,513,236.51, representing 11.43% of total assets, up from 9.49% in the previous year[46]. - Total assets at the end of the reporting period were ¥4,467,555,092.21, a decrease of 6.16% from ¥4,760,970,982.60 at the end of the previous year[16]. - The company's equity attributable to shareholders was CNY 3,393,256,614.80, down from CNY 3,494,680,022.56, a decrease of about 3.0%[142]. Revenue Segmentation - The automotive electronics segment generated CNY 789 million in revenue, a decline of 32.61% due to a reduction of approximately 300,000 units in sales of in-car audio navigation systems and a price drop of 9.2%[33]. - Precision die-casting business revenue increased by 30.01% to CNY 230 million, with net profit rising by 31.66%[34]. - Revenue from the automotive electronics segment was ¥788,503,968.97, accounting for 48.77% of total revenue, down 32.61% from ¥1,169,993,540.06[39]. - Domestic revenue was ¥973,340,690.79, representing 60.21% of total revenue, a decrease of 16.87% from ¥1,170,844,850.45[39]. - Foreign revenue decreased by 19.10% to ¥643,276,125.33, accounting for 39.79% of total revenue[39]. Investment and R&D - R&D investment grew by 29% year-on-year, reaching CNY 168 million, accounting for 10.46% of main business revenue[29]. - The company has a total of 556 patents, including 123 invention patents, reflecting its strong R&D capabilities[29]. - The company plans to use raised funds to replace self-raised funds for investment projects, totaling RMB 276.26 million[55]. - The company is exploring potential acquisitions to enhance its product portfolio and market reach, with a budget of 300 million RMB allocated for this purpose[76]. Risks and Challenges - The company faces risks related to reliance on the automotive industry, market shrinkage, price declines in electronic products, exchange rate fluctuations, and raw material price volatility[5]. - The shrinking market for optical disc drives poses a risk, as continued price declines could adversely affect the company's gross margin; the company is actively optimizing its product structure to increase the proportion of high-value-added products[66]. - The company acknowledges the potential adverse effects of exchange rate fluctuations on its profitability due to its export and import activities[65]. Corporate Governance and Compliance - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company guarantees the accuracy and completeness of its prospectus, assuming legal responsibility for any misleading information[74]. - The company’s management has committed to maintaining transparency and compliance with regulatory requirements[74]. - The company has committed to ensuring compliance with labor dispatch regulations during the control period[83]. Social Responsibility and Environmental Commitment - The company has established an environmental management system in accordance with ISO 14001:2015 standards, emphasizing its commitment to environmental protection[109]. - A total of CNY 1 million in charitable donations was made to the Huizhou Charity Federation, with CNY 400,000 allocated for targeted poverty alleviation projects[111]. - The company has initiated a poverty alleviation program, adding 4 new impoverished households as beneficiaries during the reporting period[111]. Shareholder Information - The company has a total of 473,100,000 shares, with 84.55% being restricted shares and 15.45% being unrestricted shares[121]. - The largest shareholder, Huizhou Huayang Investment Co., Ltd., holds 57.25% of the shares, amounting to 270,851,352 shares[124]. - The company reported a profit distribution of 90,000 thousand to shareholders, which is unchanged from the previous period[168].