Furuise(SZ:300228)2017-08-28 16:00Financial Performance - Total revenue for the first half of 2017 reached ¥808,239,514.06, representing a 123.05% increase compared to ¥362,360,954.51 in the same period last year[19]. - Net profit attributable to shareholders was ¥43,807,816.15, a significant turnaround from a loss of ¥71,510,931.77 in the previous year, marking a 161.26% improvement[19]. - The net cash flow from operating activities was ¥45,331,187.90, compared to a negative cash flow of ¥243,319,432.59 in the same period last year, reflecting a 118.63% increase[19]. - Basic earnings per share improved to ¥0.09 from a loss of ¥0.15, indicating a 160.00% increase[19]. - Operating profit reached ¥29,453,913.19, reflecting a growth of 132.06% year-on-year[34]. - The total comprehensive income for the period was CNY 45,610,878.81, compared to a loss of CNY 76,584,840.66 in the same period last year[165]. - The company reported a net profit distribution to owners of -2,939.6 million, indicating a significant reduction in profit allocation[186]. Assets and Liabilities - Total assets increased by 10.60% to ¥4,343,558,428.23 from ¥3,927,425,318.92 at the end of the previous year[19]. - Cash and cash equivalents increased by ¥157,763,400, representing a growth of 31.83% from the end of 2016, primarily due to increased cash collection from rising main business revenue[28]. - Accounts receivable rose by ¥250,061,800, an increase of 38.15%, driven by higher invoicing from main business activities[28]. - Total current liabilities increased to CNY 2,264,157,999.11 from CNY 1,888,372,752.24, which is a rise of 19.9%[156]. - The company's total liabilities grew to CNY 2,526,806,197.29 from CNY 2,139,111,632.73, representing an increase of 18.1%[156]. Investment and R&D - The company applied for 10 invention patents and 22 utility model patents during the reporting period, with a total of 34 invention patents and 156 utility model patents held by the end of the period[31]. - The company’s R&D investment amounted to ¥25,049,109.58, a decrease of 15.35% from ¥29,591,356.43 in the previous year, reflecting a strategic focus on cost reduction and efficiency improvement[48]. - The company plans to invest ¥30,000.09 million in the hydrogen energy vehicle hydrogen supply system project, utilizing 58 acres of land previously earmarked for a different project[45]. Market Expansion and Strategy - The company continues to focus on expanding its market presence and developing new technologies[19]. - The company has expanded its overseas market presence, contributing to domestic product exports and market space growth[37]. - The company’s strategic focus includes new product development and technological innovation to enhance market competitiveness and reduce production costs[36]. - The recovery in international oil prices has improved the economic viability of domestic natural gas applications, leading to increased market demand for LNG equipment[88]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company held its first extraordinary shareholders' meeting on January 13, 2017, with a participation rate of 19.86%[97]. - The second extraordinary shareholders' meeting took place on February 28, 2017, with a participation rate of 11.42%[97]. - The annual shareholders' meeting for 2016 was held on May 16, 2017, with a participation rate of 19.72%[97]. Legal and Compliance - The company has ongoing litigation involving a total claim amount of 2,420,000 yuan, with a successful outcome in recovering over 1,700,000 yuan[104]. - The company has also won a lawsuit against Kunlun Energy, with a claim amount of 1,861,120 yuan, and is in the process of recovering the remaining amount through court enforcement[104]. - The company did not engage in entrusted financial management, derivative investments, or entrusted loans during the reporting period[74][75][76]. Financial Management - The company’s overall strategy includes enhancing fundraising efficiency and reducing financial costs through the reallocation of funds[72]. - The company approved a stock option and restricted stock incentive plan on February 10, 2017, to attract and retain talent[108]. - The company has a total external guarantee amount of 10,652.2 million yuan approved by the end of the reporting period, with an actual guarantee balance of 3,934.26 million yuan[120]. Future Outlook - The company expects a cumulative net profit of approximately 4,800 to 5,300 million RMB for the year, representing a significant increase of 144.73% to 149.39% compared to the previous year, which had a net loss of 10,730.51 million RMB[88]. - The company anticipates a net profit of 500 to 800 million RMB for the period from July to September, marking an increase of 113.97% to 122.35% compared to a loss of 3,579.42 million RMB in the same period last year[88].