BOCO(SH:600289)2021-08-27 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥203,570,054.73, representing a 10.89% increase compared to ¥183,586,132.76 in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2021 was -¥53,895,388.14, an improvement from -¥118,207,924.39 in the previous year[21]. - The net cash flow from operating activities was -¥168,130,682.26, compared to -¥86,158,769.50 in the same period last year[21]. - The total assets decreased by 7.93% to ¥2,374,898,658.99 from ¥2,579,476,108.07 at the end of the previous year[21]. - The net assets attributable to shareholders decreased by 1.61% to ¥1,524,112,665.30 from ¥1,549,008,053.44 at the end of the previous year[21]. - The basic earnings per share for the first half of 2021 was -¥0.0854, an improvement from -¥0.1873 in the same period last year[22]. - The weighted average return on net assets increased by 14.2579 percentage points to -3.5409% from -17.7988% in the previous year[22]. - The company reported a net profit of -2,165.54 million CNY for Beijing Yiyang Xintong Technology Co., with total assets of 12,581.17 million CNY and net assets of -79,916.36 million CNY[48]. - Yiyang Security Technology Co. achieved a net profit of 828.84 million CNY, with total assets of 79,855.85 million CNY and net assets of 8,291.50 million CNY[48]. - Shanghai Yiyang Xintong Industrial Co. reported a net profit of -350.85 million CNY, with total assets of 9,755.53 million CNY and net assets of 217.20 million CNY[48]. - Guangzhou Yiyang Information Technology Co. had a net profit of -1,014.15 million CNY, with total assets of 102.41 million CNY and net assets of -6,278.65 million CNY[48]. - Xi'an Yiyang Xintong Software Technology Co. reported a net profit of -1,243.81 million CNY, with total assets of 3,613.14 million CNY and net assets of -21,056.05 million CNY[48]. - Wuhan Yiyang Xintong Technology Co. had a net profit of -516.24 million CNY, with total assets of 1,597.17 million CNY and net assets of -13,414.40 million CNY[48]. - The company reported a net loss of ¥800,470,684.26 as of June 30, 2021, compared to a loss of ¥775,575,296.12 at the end of 2020[101]. - The total comprehensive income for the first half of 2021 was -54,019,548.35 RMB, compared to -118,561,522.89 RMB in the first half of 2020, indicating a reduction in comprehensive losses[107]. Operational Efficiency - Management expenses decreased by 44.30% year-on-year to 75.18 million yuan, while R&D expenses fell by 36.55% to 63.01 million yuan[34]. - Operating costs rose significantly by 72.06% to ¥81,867,037.64, primarily due to increased revenue and the inclusion of personnel costs for delivered projects[39]. - The company successfully completed the development of a comprehensive video and power management system for the Beijing subway, which is now in the deployment phase[35]. - The company has established a unified technology stack to enhance development efficiency and reduce costs through modular product design[36]. - The company’s total cash inflow from operating activities was ¥289,473,280.81, while cash outflow was ¥286,395,103.08, resulting in a positive cash flow from operations[115]. - The company’s cash inflow from other operating activities increased to ¥187,622,348.79, compared to ¥59,588,422.00 in the same period of 2020, indicating improved operational efficiency[115]. Strategic Initiatives - The company is actively participating in the commercial construction of 5G for telecom operators, including drafting technical specifications for China Mobile's enterprise business operation support system[34]. - The company is expanding into vertical industries such as broadcasting, electricity, rail transit, and mining, leveraging its existing product capabilities[34]. - The company has developed new capabilities and systems for 5G, including slice management and cloud-network collaboration, to meet the evolving needs of telecom operators[32]. - The company has established a digital supply chain management ecosystem solution to enhance resource lifecycle management across various business processes[32]. - The company aims to increase its competitiveness through both organic growth and external cooperation opportunities[30]. - The company is focusing on the integration of new technologies such as 5G, big data, and artificial intelligence to drive digital transformation across industries[29]. Governance and Compliance - There are no major risks or violations of decision-making procedures reported in the half-yearly report[10]. - The company has not faced any significant environmental violations or penalties during the reporting period, adhering strictly to environmental regulations[65]. - The company has established a governance structure including a shareholders' meeting, board of directors, and supervisory board[138]. - The financial statements were approved by the board of directors on August 26, 2021[138]. - The company has maintained compliance with environmental laws and has not been classified as a key pollutant discharge unit[65]. Financial Obligations and Liabilities - The total amount of restricted assets at the end of the reporting period was ¥1,316,371,378.75, primarily due to judicial freezes on cash and fixed assets[43]. - The company faces risks related to its main business due to debt disputes affecting multiple bank accounts, which impacts new business tenders and industry expansion[49]. - The total liabilities as of June 30, 2021, were ¥855,695,670.41, down 17.38% from ¥1,035,253,571.14 at the end of 2020[101]. - The company’s total liabilities at the end of the reporting period were CNY 1,586,071,899.79, indicating a substantial financial obligation[128]. - The total amount of funds occupied by the controlling shareholder and related parties is 895.52 million RMB, including 469.06 million RMB of non-operating funds occupied by the controlling shareholder[70]. - The company has repaid a total of 862.41 million RMB of the occupied funds, with 33.72 million RMB still under judicial execution due to erroneous deductions[70]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 26,182[89]. - The largest shareholder, Yiyang Group, held 207,573,483 shares, representing 32.89% of the total shares, with 64,459,419 shares frozen[91]. - The top ten shareholders collectively hold a significant portion of the company's shares, with the largest being Yiyang Group[91]. - The company has a total share capital of 631,052,069 shares as of June 30, 2021[137]. Legal and Litigation Matters - The company is currently involved in a lawsuit with a claim amount of 50 million RMB, with a potential liability of 50% for compensation[77]. - The company is involved in litigation with 41 creditors, with a total principal amount of RMB 472,139.65 million[79]. - The company has successfully resolved matters with 21 creditors, involving a principal amount of RMB 1.931 billion[79]. - The restructuring plan of Yiyang Group has been completed, and the company no longer bears any repayment obligations for claims totaling RMB 2.254 billion[79]. Accounting Policies and Financial Reporting - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that financial reports accurately reflect its financial position and performance[144]. - The company prepares consolidated financial statements based on its own and subsidiaries' financial reports, reflecting the overall financial position, operating results, and cash flows of the entire corporate group[156]. - The company recognizes its share of jointly controlled assets and liabilities in joint operations according to relevant accounting standards[164]. - The company applies expected credit loss model for impairment accounting on financial assets measured at amortized cost and certain financial guarantees[184].