*ST美盛(002699) - 2014 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2014 was CNY 164,984,279.99, representing a 118.50% increase compared to CNY 75,506,766.74 in the same period last year[20]. - The net profit attributable to shareholders was CNY 17,172,856.14, up 33.54% from CNY 12,859,871.87 year-on-year[20]. - The net profit after deducting non-recurring gains and losses was CNY 17,868,062.36, reflecting a 91.78% increase from CNY 9,317,102.62 in the previous year[20]. - The company's total assets increased by 12.41% to CNY 908,246,441.67 from CNY 807,969,010.40 at the end of the previous year[20]. - The net assets attributable to shareholders rose by 1.92% to CNY 657,734,761.28 compared to CNY 645,326,429.06 at the end of the last year[20]. - The basic earnings per share decreased by 42.86% to CNY 0.08 from CNY 0.14 in the same period last year[20]. - The net cash flow from operating activities was negative at CNY -34,606,515.53, worsening from CNY -24,347,644.52 in the previous year, a decline of 42.13%[20]. - The weighted average return on equity increased to 2.63%, up from 1.47% in the previous year, an increase of 1.16 percentage points[20]. Revenue and Costs - Operating costs increased to CNY 104.39 million, a rise of 114.3% year-on-year, primarily due to increased shipments and the consolidation of Scheepers B.V.[31]. - The gross margin for the animation and its derivatives segment was 36.41%, with a slight increase of 1.36% compared to the previous year[35]. - Sales expenses rose to CNY 6.48 million, an increase of 139.81% year-on-year, largely due to the consolidation of Scheepers B.V.[31]. Investments and Acquisitions - The company reported a significant increase in investment cash flow, with a net amount of CNY 40.05 million, up 1,677.13% year-on-year, mainly due to reduced purchases of financial products and fixed asset construction[32]. - The company completed acquisitions of multiple entities, including the further acquisition of Dishi Technology, enhancing its strategic position in the animation industry[28]. - The company has acquired 85.82% of Zhejiang Dishun Technology Co., which focuses on anime and game design, enhancing its industry chain integration[43]. - The company is expanding its business through acquisitions, including Star Dream Workshop and Pure Innocence Era, to deepen its industry chain[41]. Financial Management - The total amount of raised funds is CNY 42,628.13 million, with CNY 3,631.1 million invested during the reporting period[50]. - Cumulative investment of raised funds amounts to CNY 24,699.53 million[50]. - The company has approved the use of CNY 4,100 million of excess raised funds to repay bank loans[50]. - The company has authorized the use of up to CNY 12,750 million of idle raised funds and CNY 10,250 million of excess funds to purchase bank wealth management products[50]. - The total amount of entrusted financial management products is CNY 42,797 million, with a total expected return of CNY 363.08 million[48]. Shareholder and Governance - The company has established a governance structure that complies with the requirements of the Company Law and the relevant regulations of the China Securities Regulatory Commission[68]. - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[70]. - The company has actively engaged in investor relations management to enhance communication and transparency with shareholders[68]. - The company completed a profit distribution plan for 2013, distributing cash dividends of 0.5 yuan per share and increasing the total share capital through capital reserve conversion[61]. Future Projections - For the first nine months of 2014, the company expects a net profit attributable to shareholders to range between 50.44 million yuan and 63.05 million yuan, representing a growth of 20% to 50% compared to the same period in 2013[60]. - The company plans to achieve net profits of no less than 15 million, 25 million, 30 million, and 40 million in 2015, 2016, 2017, and 2018 respectively[76]. Operational Challenges - The net cash flow from operating activities was -44,346,559.73 yuan, a significant decline compared to -2,515,543.39 yuan in the previous period, indicating a worsening operational cash flow situation[132]. - The company reported a net decrease in cash and cash equivalents of -2,401,008.55 yuan, compared to a much larger decrease of -77,775,797.59 yuan in the previous year[133]. Accounting Policies - The company adheres to the Chinese Accounting Standards, ensuring that financial statements reflect a true and complete picture of its financial status and operating results[146]. - The company recognizes financial assets and liabilities at fair value upon initial recognition, with subsequent measurement based on specific criteria[157]. - Revenue from sales of goods is recognized when specific criteria are met, including transfer of ownership risks and rewards, reliable measurement of revenue, and probable inflow of economic benefits[196].