ST升达(002259) - 2018 Q2 - 季度财报

Financial Performance - The company's operating revenue for the reporting period was CNY 496,950,010.30, a decrease of 14.18% compared to CNY 579,083,564.41 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of CNY 32,606,951.64, representing a decline of 466.68% from a profit of CNY 8,892,370.59 in the previous year[18]. - The net cash flow from operating activities was a negative CNY 221,558,444.81, a significant decrease of 1,165.98% compared to CNY 20,784,475.02 in the same period last year[18]. - The basic earnings per share were -CNY 0.0433, down 466.95% from CNY 0.0118 in the previous year[18]. - The company reported a net profit loss of CNY 33,148,735.13 after deducting non-recurring gains and losses, which is a decline of 1,002.19% from a loss of CNY 3,007,523.60 in the previous year[18]. - The company's operating profit was -2,532.42 million RMB, a decline of 163.21% year-on-year, and the total profit was -2,582.04 million RMB, down 164.48% year-on-year[35]. - The net profit attributable to shareholders was -3,260.70 million RMB, a decrease of 466.68% year-on-year, mainly due to a decline in LNG product gross profit and an increase in financial and management expenses[35]. - The company reported a net profit loss forecast for Q1-Q3 2018, estimated between -41 million to -31 million RMB, compared to a net profit of 12.32 million RMB in the same period of 2017[78]. - The net increase in cash and cash equivalents was -¥282,310,850.23, a decrease of 147.69% compared to the previous year[51]. - The company reported a total of ¥74,533.14 million in raised funds, with ¥5,691.32 million already utilized[65]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,849,061,113.74, a decrease of 3.01% from CNY 2,937,610,106.74 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company were CNY 1,636,767,719.44, down 1.95% from CNY 1,669,363,949.24 at the end of the previous year[18]. - Total current assets decreased from CNY 1,768,310,444.26 to CNY 1,715,179,873.56, a decline of approximately 3.0%[169]. - Total liabilities decreased from CNY 983,173,888.31 to CNY 922,531,561.13, a reduction of about 6.2%[170]. - Total equity of the company was CNY 1,626,231,670.61, down from CNY 1,665,338,981.79, representing a decrease of 2.14%[178]. - The company's equity attributable to shareholders decreased from CNY 1,669,363,949.24 to CNY 1,636,767,719.44, a decline of about 1.9%[171]. - The total amount of guarantees provided by the controlling shareholder, Chengdu Shengda Group, is 78,565,000 RMB, accounting for 47.06% of the latest audited net assets[137]. - The outstanding balance of guarantees at the end of the reporting period is 69,430,300 RMB, which is 41.59% of the latest audited net assets[137]. Cash Flow - The total cash inflow from operating activities was 593,636,803.39 CNY, while cash outflow was 815,195,248.20 CNY[186]. - The total cash flow from operating activities was CNY 591,279,454.55, down from CNY 638,962,051.62 in the previous year[185]. - Cash inflow from financing activities totaled 151,196,818.53 CNY, with cash outflow amounting to 211,581,080.55 CNY, leading to a net cash flow of -60,384,262.02 CNY[187]. - The company reported a net increase in cash and cash equivalents of -282,310,850.23 CNY for the period[187]. Operational Strategy and Future Plans - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company plans to repurchase shares through a centralized bidding transaction, with a total amount not less than 50 million RMB and not exceeding 200 million RMB, to enhance management and employee motivation[36]. - The company intends to invest up to 780 million RMB in Hangzhou Quanzhimai E-commerce Co., Ltd. to acquire up to 19.5% equity, aiming to cultivate new profit growth points[39]. - The company is focused on capital operations such as mergers and acquisitions to seek new investment opportunities and enhance profitability[34]. - The company has established a comprehensive industrial chain for liquefied natural gas (LNG) production and sales, including gas pipeline and distribution services, which is expected to support future revenue growth[26]. - The company is actively responding to government environmental policies and aims to expand its clean energy business while optimizing resource allocation[26]. Risks and Challenges - The company has acknowledged potential risks in its operations and has outlined measures to address these risks in the report[4]. - The company faces risks related to economic cycles, which can impact LNG demand based on national economic conditions[79]. - The company is exposed to policy risks that could affect market demand for its products due to changes in national industrial policies[80]. - The company relies heavily on upstream suppliers for natural gas, which poses a risk if supply is disrupted[82]. - The competitive landscape in the LNG sector is intensifying, with various market players including state-owned and private enterprises[83]. - The company acknowledges management and control risks associated with increasing complexity from mergers and acquisitions[84]. - The company faces significant funding risks due to account freezes caused by violations such as guarantees and fund occupation, which hinder access to financial institutions[86]. Shareholder and Governance - The company has committed to maintaining independence in its operations, assets, and financial dealings[106]. - The company has established a complete and independent corporate governance structure[98]. - The company has committed to not engaging in competitive business activities with its controlling shareholder's other enterprises to avoid conflicts of interest[95]. - The largest shareholder, Sichuan Shengda Forestry Industry Group Co., Ltd., holds 25.34% of the shares, with some shares frozen[151]. - The company has not reported any media controversies or penalties during the reporting period, indicating a stable public and regulatory standing[119][120]. Legal Matters - The company is currently involved in multiple ongoing lawsuits, with claims totaling approximately ¥14,300 million, ¥6,123.37 million, and ¥5,512.29 million, among others, which are still under litigation or execution[116][117][121]. - The company has ongoing litigation with various financial institutions, including a claim of ¥9,860.78 million from Xinhua Trust and ¥3,663.63 million from Minsheng Financial Leasing, both of which are still in the trial phase[117][121]. - There are ongoing litigation cases involving a total amount of CNY 28.72 million and CNY 26.56 million, both currently under trial[113].