JSSH(000518)2017-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2017 was CNY 197,309,155.11, representing a 49.46% increase compared to CNY 132,019,042.17 in the same period last year[18]. - The net profit attributable to shareholders was CNY 19,092,935.66, a significant turnaround from a loss of CNY 4,914,240.13, marking an increase of 488.52%[18]. - The basic earnings per share rose to CNY 0.0185 from a loss of CNY 0.0048, reflecting an increase of 485.42%[18]. - The company achieved total revenue of 197.31 million yuan, a year-on-year increase of 49.46%[32]. - Net profit attributable to shareholders reached 19.09 million yuan, up 488.52% compared to the same period last year[32]. - The company reported a significant increase in sales expenses by 124.79% to 74.43 million yuan, primarily due to increased promotional activities[34]. - The gross margin for pharmaceutical revenue was 72.57%, with a year-on-year increase of 9.70%[37]. - The company reported a net loss of ¥463,421,165.03, slightly improved from a loss of ¥482,514,100.69 in the previous period[101]. - The total operating costs increased to CNY 201.08 million from CNY 134.59 million, with the operating cost rising to CNY 67.54 million from CNY 49.61 million, indicating a 36.1% increase[108]. - The company reported an investment income of CNY 22.43 million, compared to no investment income in the same period last year[108]. Cash Flow and Liquidity - The company reported a net cash flow from operating activities of -CNY 294,637,435.45, a decline of 1,061.69% compared to CNY 30,637,387.74 in the previous year[18]. - The company’s cash flow from investment activities showed a net increase of 256.67 million yuan, a 3,996.85% increase, mainly from the disposal of equity stakes[35]. - The company reported a cash balance of 18,344,678.58 CNY at the end of the period, down from 64,949,874.50 CNY at the beginning[117]. - Cash outflow from operating activities totaled 474,417,747.73 CNY, compared to 137,215,179.20 CNY in the previous period, indicating increased operational expenses[116]. - The total cash inflow from operating activities was 30,784,219.84 CNY, significantly higher than 7,364,914.63 CNY in the previous period[118]. - The total cash and cash equivalents decreased by 46,605,195.92 CNY during the period, compared to a decrease of 1,237,551.04 CNY in the previous period[117]. Assets and Liabilities - Total assets decreased by 9.15% to CNY 924,281,540.89 from CNY 1,017,357,931.64 at the end of the previous year[18]. - The company’s total assets decreased by 1.7 million yuan due to the sale of its biopharmaceutical subsidiary[28]. - Current liabilities decreased to ¥237,816,779.57 from ¥405,270,286.77, a reduction of about 41.3%[100]. - The total liabilities decreased to ¥240,079,019.96 from ¥406,262,908.77, a reduction of about 40.8%[100]. - Long-term equity investments decreased to ¥405,788,527.16 from ¥642,805,144.50, a decline of approximately 37%[104]. Shareholder Information - The company did not plan to distribute cash dividends or issue bonus shares for the year[6]. - The total number of shares outstanding is 1,029,556,222, with 100% being unrestricted shares[80]. - The largest shareholder, Kunshan Chuangye Investment Co., Ltd., holds 8.60% of the shares, totaling 88,593,189 shares[84]. - The second-largest shareholder, Zhongwei Small Enterprise Investment Group Co., Ltd., holds 7.09%, totaling 72,994,542 shares[84]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[85]. Strategic Developments - The company has established Jiangsu Chenwei Ecological Park Technology Co., Ltd. to cultivate new profit growth points and gradually transition to the ecological forestry industry[25]. - In January 2017, the company exchanged its 12% stake in Beijing Sihuan for 100% equity in Guangxi Intercontinental, which primarily engages in the planting, maintenance, and sale of eucalyptus trees[25]. - The company is positioned in a rapidly growing pharmaceutical industry, driven by increasing healthcare demands and population aging in China[25]. - The company sold 100% equity of Jiangsu Sihuan Biopharmaceutical Co., Ltd. and exchanged 12% equity of Beijing Sihuan for 100% equity of Guangxi Intercontinental Forestry Investment Co., Ltd.[28]. Compliance and Governance - The half-year financial report has not been audited[57]. - There are no penalties or rectification measures reported for the company during the period[60]. - The company has ongoing commitments from its actual controller and shareholders, including a lock-up period of 24 months for share trading after obtaining circulation rights[55]. - The company has not engaged in any equity incentive plans or employee stock ownership plans during the reporting period[61]. - There are no major related party transactions or significant contracts reported during the period[62][73]. Accounting Policies - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that financial statements accurately reflect its financial position and operating results[141]. - The company uses Renminbi as its functional currency for accounting purposes[144]. - The company recognizes investment income from interest or dividends during the holding period of financial assets, with fair value changes accounted for at the end of the reporting period[161]. - The company applies an aging analysis method to assess bad debt provisions for receivables, with specific percentages for different aging categories, such as 5% for receivables within one year and 100% for those over five years[170]. - The company recognizes impairment losses for receivables based on individual assessment or aging analysis, ensuring that significant amounts are adequately provisioned[171].