精伦电子(600355) - 2020 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2020 was ¥78,605,336.10, a decrease of 49.83% compared to ¥156,676,026.13 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2020 was -¥18,014,098.36, compared to -¥15,331,759.09 in the previous year[17]. - The net cash flow from operating activities was -¥37,218,431.92, significantly lower than -¥3,772,912.29 in the same period last year[17]. - The total assets at the end of the reporting period were ¥444,841,349.94, down 7.81% from ¥482,541,554.10 at the end of the previous year[17]. - The net assets attributable to shareholders decreased by 6.11% to ¥277,035,811.98 from ¥295,049,910.34 at the end of the previous year[17]. - The basic earnings per share for the first half of 2020 was -¥0.037, compared to -¥0.031 in the same period last year[18]. - The weighted average return on net assets was -6.30%, compared to -4.33% in the previous year[18]. - The company reported a net loss of CNY -407,712,662.54, widening from a loss of CNY -389,698,564.18 in the previous period[64]. - The net profit for the period was -¥238,938.20, with the impact of net profit or investment income on the company's net profit at -1.33%[37]. Revenue and Costs - Operating costs decreased by 46.31% to ¥61,762,332.53, reflecting the overall revenue decline[29]. - Total operating costs for the first half of 2020 were CNY 97,689,124.72, down 41.5% from CNY 166,460,569.18 in the same period last year[71]. - The company's total operating costs were ¥55,200,333.25, which decreased from ¥90,363,818.86 in the first half of 2019, reflecting cost-cutting measures[75]. Cash Flow - The company’s cash flow from operating activities showed a net outflow of ¥37,218,431.92, worsening from a net outflow of ¥3,772,912.29 in the previous period[29]. - The cash flow from operating activities showed a net outflow of ¥22,885,378.87 RMB, compared to -8,349,920.00 RMB in the same period of 2019, indicating a decline in operational cash flow[83]. - Total cash inflow from operating activities was 135,227,761.79 RMB, while cash outflow was 158,113,140.66 RMB, resulting in a net cash outflow of 22,885,378.87 RMB[83]. Assets and Liabilities - The company's total current assets decreased to CNY 169,562,088.23 as of June 30, 2020, down 35.1% from CNY 261,344,627.89 at the end of 2019[68]. - The company's total liabilities decreased to CNY 194,833,449.63 as of June 30, 2020, down 29.7% from CNY 277,280,644.70 at the end of 2019[68]. - The company's total assets decreased to CNY 477,174,646.88 as of June 30, 2020, down 16.8% from CNY 573,509,785.51 at the end of 2019[68]. Shareholder Information - The largest shareholder, Zhang Xueyang, holds 60,000,000 shares, representing 12.19% of total shares[55]. - The total equity attributable to shareholders decreased by 18,014,098.36 RMB during the first half of 2020, reflecting a decline in overall shareholder value[86]. Research and Development - Research and development expenses were reduced by 30.32% to ¥15,226,446.53, indicating a decrease in R&D investment during the period[29]. - The company maintained its core competitiveness with nearly 100 patents and continued to focus on R&D and market expansion strategies[25]. Market and Competition - The net profit attributable to the parent company was a loss of ¥18,014,098.36, primarily due to the impact of the pandemic and increased competition leading to a decline in gross margin[27]. - The company faces significant cost control challenges due to rising raw material and labor costs in the sewing machinery industry, which has intensified competition[38]. Corporate Governance - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital during the reporting period[4]. - There were no non-operating fund occupation situations by controlling shareholders or related parties[5]. - The company has renewed its audit engagement with Zhongchao Zhonghuan Accounting Firm for one year, with audit fees of RMB 450,000 for financial reporting and RMB 250,000 for internal control[42]. Tax and Regulatory Matters - The group confirmed deferred tax assets for all unused tax losses, estimating future taxable profits with significant management judgment[191]. - The group is subject to tax uncertainties in normal operations, which may affect the final recognition of income tax and deferred tax[191]. Inventory and Receivables - Accounts receivable decreased by 41.84% to ¥34,978,366.98, primarily due to a decline in sales revenue[34]. - The accounts receivable balance at the end of the period was approximately ¥34.98 million, with a bad debt provision of ¥82.20 million, indicating a significant level of provisions against potential defaults[200]. Financial Management - The company’s financial expenses decreased by 41.46% to ¥669,387.08, attributed to the absence of financial service fees from previous leasing activities[29]. - The financial expenses for the first half of 2020 were ¥551,484.93, a decrease from ¥1,076,694.13 in the previous year, suggesting improved financial management[75].