Financial Performance - In the first half of 2023, the company reported operating revenue of CNY 47,270,097.03, a decrease of 13.25% compared to CNY 54,490,803.22 in the same period last year[28]. - The net profit attributable to shareholders of the listed company was CNY 8,980,871.75, down 22.24% from CNY 11,549,284.48 year-on-year[28]. - The company's net cash flow from operating activities decreased by 72.90% to ¥2,948,343.33 compared to ¥10,880,279.92 in the same period last year[30]. - The operating profit margin decreased to 22.35% from 25.41% year-on-year, with operating profit at $10,564,226.69[46]. - The company reported a non-recurring loss of ¥140,952.60 after tax, primarily due to other operating income and expenses[33]. - The company reported a net profit margin of 16.0% for the first half of 2023, compared to 20.0% in the first half of 2022[94]. - Net profit for the first half of 2023 was CNY 8,980,871.75, a decrease of 22.3% compared to CNY 11,549,284.48 in the same period of 2022[95]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 349,849,563.66, a decrease of 2.45% from CNY 358,624,278.65 at the end of the previous year[29]. - The total liabilities decreased by 22.75% to CNY 25,242,777.25 from CNY 32,678,363.99 year-on-year[29]. - Current assets totaled ¥240,811,217.54 as of June 30, 2023, a decrease of 9.5% from ¥266,033,607.37 at the end of 2022[90]. - The company's cash and cash equivalents were ¥65,378,605.55 as of June 30, 2023, down from ¥87,188,749.75 at the end of 2022, a decline of 25.0%[90]. - Accounts receivable decreased to ¥71,593,141.45 as of June 30, 2023, from ¥87,317,073.05 at the end of 2022, a decrease of 18.0%[90]. - The total equity attributable to the parent company at the end of the reporting period is CNY 323,560,833.21, a decrease of CNY 1,339,128.25 compared to the previous period[106]. Research and Development - The company continues to focus on R&D for new refractory materials, enhancing its core competitiveness and technological capabilities[36]. - Research and development expenses increased by 33.24% to $3,606,792.35, primarily due to new R&D projects initiated this year[47]. - Research and development expenses for the first half of 2023 amounted to $3,606,792.35, an increase from $2,706,976.55 in the same period of 2022[191]. Market Strategy and Expansion - The company’s market expansion strategy includes enhancing its product range in refractory materials, focusing on functional refractory materials as its core product[23]. - The company is actively seeking to diversify its customer base and expand into other industries to mitigate reliance on the steel industry[61]. - The steel industry accounts for approximately 70% of the total consumption of refractory materials, indicating a strong dependency on the steel sector for revenue growth[60]. Corporate Governance - The actual controllers of the company hold a combined 47.03% of shares, ensuring alignment of interests between management and shareholders[62]. - The company has established a robust corporate governance structure to protect the interests of minority shareholders against potential risks from actual controllers[62]. - There were no significant lawsuits or arbitration matters during the reporting period, indicating a stable legal environment for the company[66]. Employee and Shareholder Information - The company has a total of 150 employees at the end of the reporting period, down from 156 at the beginning, reflecting a decrease of approximately 3.85%[86]. - The total number of shareholders holding ordinary shares is 5,106[72]. - The largest shareholder, Wei Wenxu, holds 19,194,917 shares, accounting for 22.32% of total shares[75]. Cash Flow and Investments - The total cash outflow from investment activities was -$17,746,299.65, a 211.21% increase in outflow compared to the previous year[54]. - The company has invested a total of $155,000,000.00 in bank financial products, with no overdue amounts reported[56]. - The company’s total cash outflow related to financing activities was $7,214,657.18 in the first half of 2022[195]. Inventory and Receivables - The inventory turnover rate improved slightly to 0.65 from 0.63, while accounts receivable turnover rate decreased to 0.51 from 0.65[30]. - The inventory balance as of June 30, 2023, was ¥46,455,079.61, with a provision for inventory depreciation of ¥2,867,353.37[183]. - The company has established a provision for bad debts based on individual assessments, with a total of approximately $3.18 million for specific debtors[178]. Financial Reporting and Compliance - The financial statements are prepared based on the going concern principle, with no significant doubts about the company's ability to continue operations for the next 12 months[112]. - The financial statements comply with the requirements of the "Enterprise Accounting Standards," accurately reflecting the company's financial position as of June 30, 2023, and the operating results for the first half of 2023[113]. - The company has not reported any changes due to accounting policy adjustments or prior period error corrections during this period[106].
科创新材(833580) - 2023 Q2 - 季度财报