BOCO(SH:600289)2023-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2023 was approximately ¥99.51 million, a decrease of 25.62% compared to ¥133.79 million in the same period last year[22]. - The net profit attributable to shareholders for the first half of 2023 was approximately -¥94.83 million, slightly improved from -¥97.01 million in the previous year[22]. - The net cash flow from operating activities was -¥36.08 million, worsening from -¥22.63 million in the same period last year[22]. - The total assets decreased by 6.66% to approximately ¥1.995 billion from ¥2.138 billion at the end of the previous year[22]. - The net assets attributable to shareholders decreased by 1.39% to approximately ¥1.382 billion from ¥1.401 billion at the end of the previous year[22]. - The weighted average return on net assets was -6.82%, a decrease of 0.95 percentage points compared to -5.87% in the same period last year[22]. - The company reported a revenue of 99,511,543.82 CNY, a decrease of 25.62% compared to the same period last year[48]. - The net profit attributable to the parent company was -94,828,000 CNY, indicating a significant loss during the reporting period[36]. - Operating costs decreased by 31.30% to 50,398,089.95 CNY, primarily due to the decline in revenue[49]. - Research and development expenses fell by 18.52% to 48,176,156.16 CNY, attributed to a reduction in R&D personnel[49]. - The company reported a total comprehensive income for the first half of 2023 was -¥95,002,805.87, compared to -¥97,168,619.06 in the same period of 2022[128]. - The company experienced a net loss of CNY 97,168,619.06 in the current period, highlighting challenges in maintaining profitability[148]. Cash Flow and Liquidity - The cash flow from operating activities showed a net outflow of -36,083,315.87 CNY, reflecting a decrease in cash received from sales compared to the previous year[49]. - The company's cash and cash equivalents as of June 30, 2023, amount to ¥1,404,838,124, a decrease from ¥1,450,730,813.41 at the end of 2022[118]. - Operating cash inflow for the first half of 2023 was CNY 223,037,744.18, a decrease of 55.32% compared to CNY 499,392,805.51 in the same period of 2022[138]. - The total cash and cash equivalents at the end of the period was CNY 376,548.29, a decrease from CNY 27,384,549.93 at the end of the previous year[139]. - The company reported a net increase in cash and cash equivalents of CNY -17,634,030.90 for the first half of 2023, compared to an increase of CNY 15,161,516.09 in the same period of 2022[139]. Assets and Liabilities - Total assets decreased from CNY 2,137,524,477.25 to CNY 1,995,140,691.46, a decline of approximately 6.64%[119]. - Current liabilities decreased from CNY 580,324,479.01 to CNY 463,353,314.10, a reduction of about 20.19%[119]. - Non-current liabilities decreased from CNY 161,248,693.19 to CNY 155,434,379.43, a decrease of approximately 3.66%[120]. - Total liabilities decreased from CNY 741,573,172.20 to CNY 618,787,693.53, a decline of about 16.54%[120]. - Owner's equity decreased from CNY 1,395,951,305.05 to CNY 1,376,352,997.93, a reduction of approximately 1.43%[120]. Legal and Compliance Issues - There are ongoing issues with the recovery of funds amounting to ¥15.65 million from a judicial deduction related to a factoring case[8]. - The company is facing risks related to guarantees provided without proper decision-making procedures due to the debt disputes of its controlling shareholder[9]. - The company has pending lawsuits involving a total principal amount of 1.45 billion yuan related to various loan agreements and civil disputes[88]. - The company has engaged a professional legal team to handle the lawsuits and protect the rights of the company and its shareholders[94]. - The company has been listed as a dishonest executor by multiple courts due to failure to fulfill obligations from effective legal documents[100]. Research and Development - The company maintained a high level of R&D investment, focusing on core product lightweight transformation and expanding into non-telecom sectors[30]. - The company launched the R5.1 version of its OSS product line, enhancing its capabilities in AI-driven intelligent networks[42]. - A total of 13 new software copyrights were obtained, bringing the cumulative total to 999, with a goal to surpass 1,000[44]. - The company is developing industrial internet solutions based on a platform capability, leveraging AI and data analytics[33]. Strategic Partnerships and Market Position - The company is a long-term strategic partner of major telecom operators, enhancing its capabilities in autonomous networks and AI solutions[32]. - Significant progress was made in projects with major telecom operators, including partnerships with China Mobile and China Unicom[39]. - The company is focusing on expanding its traditional telecom operator business while actively exploring emerging business scenarios[37]. Financial Management and Governance - The company has established a governance structure including a shareholders' meeting, board of directors, and supervisory board, with 22 subsidiaries under its management[154]. - The company is committed to improving its internal control systems to prevent future issues related to contractual obligations[93]. - The company guarantees the independence of the listed company's assets, personnel, finances, and operations, ensuring no harm to the interests of the listed company and its shareholders[78]. Shareholder and Capital Structure - The total number of shares held by the top ten shareholders is 207,573,483, representing 32.89% of the total shares[109]. - The company has 64,459,419 shares frozen due to pledges, which is a significant portion of the shares held by the largest shareholder, Yiyang Group[112]. - The total number of shares and the shareholding structure remained unchanged during the reporting period[106]. Accounting Policies and Financial Reporting - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that its financial statements accurately reflect its financial position and performance[159]. - The company's accounting period runs from January 1 to December 31 each year[160]. - The company applies a step-by-step approach for accounting treatment in business combinations under common control, measuring assets and liabilities at their book value on the merger date[163].