HZSY(SH:600191)2021-06-11 16:00Financial Performance - The company's operating revenue for the first half of 2020 was ¥36,575,663.41, representing a 10.16% increase compared to ¥33,202,934.70 in the same period last year[15]. - The net profit attributable to shareholders for the first half of 2020 was ¥18,621,768.96, a decrease of 65.90% from ¥54,602,150.13 in the previous year[15]. - The net cash flow from operating activities was negative at -¥5,363,616.76, compared to a positive cash flow of ¥5,211,174.49 in the same period last year, marking a 202.93% decline[15]. - Basic earnings per share for the first half of 2020 were ¥0.0384, a decrease of 65.90% compared to ¥0.1126 in the same period last year[16]. - The weighted average return on net assets was 1.00%, down by 1.93 percentage points from 2.93% in the previous year[16]. - The company reported a significant decline in investment income, which fell to CNY 25,889,521.51 from CNY 77,516,161.39, a decrease of approximately 66.66%[66]. - The total comprehensive income for the first half of 2020 was a loss of CNY 60,710,626.40, compared to a gain of CNY 74,137,497.63 in the same period of 2019[64]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,925,574,013.23, down 4.78% from ¥2,022,276,786.27 at the end of the previous year[15]. - The total current assets as of June 30, 2020, amount to 235,923,040.81 RMB, an increase from 213,595,563.17 RMB at the end of 2019[56]. - The total non-current assets as of June 30, 2020, are 1,689,650,972.42 RMB, down from 1,808,681,223.10 RMB at the end of 2019[56]. - The company's total liabilities and equity at the end of the reporting period were CNY 1,903,233,264.53[82]. - Total liabilities decreased from CNY 223.22 billion in December 2019 to CNY 194.50 billion by June 2020, representing a reduction of approximately 12.9%[61]. - Owner's equity decreased from CNY 1.95 billion at the end of 2019 to CNY 1.89 billion by June 2020, a decline of about 3.2%[61]. Cash Flow - The cash inflow from operating activities for the first half of 2020 was CNY 69,011,652.64, an increase of 22.7% compared to CNY 56,203,535.77 in the same period of 2019[73]. - The cash outflow from operating activities totaled CNY 74,038,517.00, up from CNY 51,132,988.03 in the previous year, resulting in a net cash flow from operating activities of -CNY 5,026,864.36[73]. - Cash inflow from investment activities reached CNY 39,079,250.36, significantly higher than CNY 4,817,545.63 in the first half of 2019[71]. - The net cash flow from investment activities was CNY 39,056,249.21, compared to CNY 4,817,545.63 in the same period last year[74]. - The net increase in cash and cash equivalents for the first half of 2020 was CNY 26,879,441.34, compared to CNY 6,503,273.52 in the same period of 2019[74]. Shareholder Information - The company plans no profit distribution or capital reserve transfer for the half-year period[34]. - The top shareholder, Baotou Grassland Sugar Industry (Group) Co., Ltd., holds 152,717,960 shares, accounting for 31.49% of total shares, with 130,500,000 shares pledged[47]. - The total equity attributable to the parent company at the end of the reporting period was CNY 1,819,290,704.80, a decrease from CNY 1,829,095,766.90 in the previous year, representing a decline of approximately 0.9%[79]. Operational Focus - The company continues to focus on sugar production and storage as its main business operations, with no changes reported during the reporting period[21]. - The company operates in the sugar production and storage industry, primarily engaged in the reprocessing of raw sugar and storage of white sugar and raw sugar[89]. - The company has two wholly-owned subsidiaries included in the consolidated financial statements: Inner Mongolia Ruquan Dairy Co., Ltd. and Baotou Huazi Sugar Reserve Co., Ltd.[91]. Accounting and Compliance - The financial statements were approved for release by the company's board of directors on August 27, 2020[90]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that the financial statements accurately reflect its financial position and operating results[95]. - There were no changes in accounting policies or estimates that would impact financial reporting[42]. Management and Governance - The company has undergone changes in its board of directors, with the election of Dai Ruiping as an independent director[51]. - The company has not disclosed any major related transactions or changes in its operational strategies during the reporting period[38]. - There were no significant lawsuits or arbitration matters during the reporting period[37]. Future Outlook - The company plans to focus on enhancing its capital structure and exploring new investment opportunities to drive future growth[79]. - The company has no significant doubts regarding its ability to continue as a going concern for the next 12 months[93].