HNHS(SH:600156)2022-08-23 16:00Financial Performance - The company's operating revenue for the first half of 2022 was CNY 48,693.39 million, a decrease of 1.23% compared to CNY 49,301.52 million in the same period last year[16]. - The net profit attributable to shareholders for the first half of 2022 was a loss of CNY 7,049.06 million, compared to a profit of CNY 781.27 million in the same period last year, representing a decrease of 1,002.26%[16]. - The basic earnings per share for the first half of 2022 was -0.1753 CNY, compared to 0.0194 CNY in the same period last year, reflecting a decrease of 1,003.62%[16]. - The weighted average return on net assets for the first half of 2022 was -11.44%, down 12.52 percentage points from 1.08% in the same period last year[16]. - The net cash flow from operating activities for the first half of 2022 was -6,632.68 million CNY, compared to -2,250.38 million CNY in the same period last year[16]. - The company's total revenue for the first half of 2022 was CNY 48,120.49 million, a slight decrease of 0.69% compared to the same period last year[22]. - The company experienced a net cash outflow from operating activities of CNY -6,632.68 million, indicating challenges in cash flow management[24]. - The net profit for the first half of 2022 was a loss of CNY 78,866,070.95, compared to a profit of CNY 4,748,923.17 in the first half of 2021, indicating a significant decline[76]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 115,095.14 million, a decrease of 9.13% from CNY 126,661.16 million at the end of the previous year[16]. - The net assets attributable to shareholders at the end of the reporting period were CNY 58,069.71 million, down 10.82% from CNY 65,118.77 million at the end of the previous year[16]. - Total assets at the end of the reporting period reached 114,000 million, a decrease of 2.53% compared to the previous year[29]. - The company's total liabilities were CNY 591,265,425.31, down from CNY 628,059,474.41 at the start of the period[70]. - The total equity attributable to shareholders decreased to CNY 580,697,080.60 from CNY 651,187,695.18[70]. - The total current liabilities amounted to CNY 409,880,908.46, a decrease from CNY 430,315,330.53[70]. Revenue Segments - The textile production business reported a revenue of CNY 4,229.27 million, a decrease of 5.48% compared to the previous year[17]. - The pharmaceutical machinery business achieved a revenue of CNY 1,026.44 million, with a gross profit margin of 38.30%[17]. - The gross profit margin for the textile segment (yarn) was -20.67%, while the gross profit margin for the textile segment (fabric) was -37.07%[22]. - The pharmaceutical machinery segment reported a gross profit margin of 38.30%, with revenue of CNY 1,026.44 million, an increase of 55.15% year-on-year[22]. Cash Flow and Investments - Cash and cash equivalents increased by 44.05% to 22,304 million, primarily due to the maturity of structured deposits[29]. - The company reported a net increase in cash and cash equivalents of CNY 65.04 million for the first half of 2022, compared to a decrease of CNY 67.53 million in the same period of 2021[81]. - Cash inflow from sales of goods and services was CNY 448.18 million, down from CNY 474.94 million year-on-year[80]. - Cash outflow for purchasing goods and services was CNY 483.44 million, slightly down from CNY 484.72 million in the previous year[80]. - The company received CNY 269 million from investment recoveries, a decrease from CNY 278.33 million in the first half of 2021[80]. - Cash outflow for investment activities totaled CNY 132.79 million, down from CNY 328.57 million in the same period last year[80]. Expenses and Management - Management expenses increased by 55.42% to CNY 4,494.03 million, primarily due to severance benefits related to personnel restructuring[25]. - Research and development expenses rose by 15.81% to CNY 367.49 million, reflecting increased investment in innovation[25]. - The company reported a significant fair value loss of CNY 32,270,399.99 in the first half of 2022, compared to a loss of CNY 9,515,623.64 in the previous year[76]. Environmental Compliance - The company reported a chemical oxygen demand (COD) of 144 mg/L, which is below the limit of 200 mg/L[45]. - The total nitrogen (N) level was recorded at 13.18 mg/L, significantly lower than the limit of 30 mg/L[45]. - The company has implemented an environmental monitoring plan to ensure pollutant emissions meet standards[49]. - There were no administrative penalties due to environmental issues during the reporting period[50]. - The company’s wastewater discharge indicators were all within the approved range, with no exceedances reported[47]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 25,210[62]. - The company had a total of 162,104,312 shares held by Hunan Huasheng Group, accounting for 40.31% of total shares[65]. Accounting Policies - The accounting policies comply with the requirements of enterprise accounting standards, ensuring accurate financial reporting[94]. - The company's accounting currency is Renminbi (CNY)[97]. - The company recognizes the operating results and cash flows of subsidiaries from the date control is obtained, adjusting the financial statements based on fair values determined on the acquisition date[101]. Accounts Receivable - The total accounts receivable at the end of the period amounted to CNY 141,702,826.97, with a breakdown showing CNY 59,826,743.03 for receivables within one year and CNY 30,829,086.66 for receivables between one to two years[186][187]. - The bad debt provision at the end of the period was CNY 54,191,827.62, which represents a decrease from CNY 54,822,367.46 at the beginning of the period, indicating a reduction of approximately 1.15%[193]. - The company has a bad debt provision ratio of 22.77% for the total accounts receivable, with specific provisions varying by aging category[191]. - The largest single account receivable is from Changsha Electronic Technology Co., Ltd., totaling CNY 25,976,653.09, which is 18.33% of the total accounts receivable[195]. Prepaid Expenses - The total balance of prepaid expenses at the end of the period is 79,135,160.49 RMB, an increase from 57,050,919.20 RMB at the beginning of the period, representing a growth of approximately 38.8%[198]. - The majority of prepaid expenses, 96.56%, are due within one year, compared to 94.37% in the previous period[198]. - The top five prepaid expense balances account for 17.41% of the total, with the largest being 3,728,032.02 RMB from a textile trading company[200].