Furuise(SZ:300228)2018-08-29 16:00Financial Performance - Total revenue for the first half of 2018 was ¥544,111,987.95, a decrease of 32.68% compared to ¥808,239,514.06 in the same period last year[20]. - Net profit attributable to shareholders was -¥27,461,880.62, representing a decline of 162.69% from ¥43,807,816.15 in the previous year[20]. - Basic earnings per share were -¥0.0580, a decrease of 162.77% compared to ¥0.0924 in the same period last year[20]. - The operating profit was -RMB 19,858,320.11, representing a decline of 165.10% year-on-year[44]. - The company reported a total profit loss of CNY 15.46 million, contrasting with a profit of CNY 30.91 million in the same period last year[176]. - The company anticipates a cumulative net loss for the first nine months of 2018 in the range of CNY -4,500,000 to -4,000,000, representing a decrease of approximately 189.00% to 179.11% compared to the previous year[100]. Cash Flow and Liquidity - The net cash flow from operating activities was ¥39,276,370.41, down 13.36% from ¥45,331,187.90 year-on-year[20]. - Cash and cash equivalents increased by 130.93 million yuan, a growth of 31.63% compared to the end of 2017, mainly due to improved cash collection from accounts receivable[34]. - The ending balance of cash and cash equivalents was CNY 205,361,855.98, down from CNY 301,867,923.55 at the end of the previous period[185]. - The total cash inflow from operating activities was CNY 782,534,489.07, while cash outflow was CNY 743,258,118.66, resulting in a net cash inflow of CNY 39,276,370.41[184]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4,354,500,302.23, an increase of 3.53% from ¥4,206,016,537.45 at the end of the previous year[20]. - The total liabilities reached CNY 2,527,051,147.55, up from CNY 2,356,363,674.78, which is an increase of approximately 7.24%[168]. - Owner's equity decreased to CNY 1,827,449,154.68 from CNY 1,849,652,862.67, showing a decline of about 1.19%[169]. Investment and R&D - Research and development expenses amounted to RMB 33,718,426.59, accounting for 6.2% of operating revenue[38]. - The company applied for 26 invention patents and 35 utility model patents during the reporting period, with 2 invention patents and 28 utility model patents granted[38]. - The company is focusing on the research and development of hydrogen energy equipment manufacturing[74]. Market and Operational Challenges - The company faced significant challenges leading to a substantial decline in both revenue and profit margins compared to the previous year[20]. - The company's revenue for the first half of 2018 decreased by 264.13 million yuan, a decline of 32.68% compared to the same period last year, primarily due to a significant drop in domestic heavy truck sales affecting LNG cylinder sales[34]. - The company is exposed to raw material price volatility risks, particularly for stainless steel, which may impact gross margins[103]. Corporate Governance and Compliance - The company has committed to avoiding competition with its major shareholders, ensuring no production or development of competing products since November 2010[109]. - The company has not engaged in any entrusted financial management, derivative investments, or entrusted loans during the reporting period[85][86][87]. - The half-year financial report has not been audited, indicating a potential area for future scrutiny[111]. Shareholder Information - The total number of shares before the change was 473,905,000, with a total increase of 847,500 shares due to stock options and restricted stock incentive plans[140]. - The total number of ordinary shareholders at the end of the reporting period was 40,320[147]. - The company approved the issuance of 847,500 shares as part of the stock option and restricted stock incentive plan on March 19, 2018[142].