ST海越(600387) - 2023 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2023 was approximately CNY 1.14 billion, a decrease of 63.15% compared to CNY 3.10 billion in the same period last year[22]. - The net profit attributable to shareholders for the first half of 2023 was approximately CNY 33.87 million, down 21.20% from CNY 42.99 million in the previous year[22]. - Basic earnings per share decreased by 22.22% to 0.07 RMB compared to the same period last year[24]. - The weighted average return on equity fell to 1.08%, a decrease of 0.28 percentage points year-on-year[24]. - The company's main business revenue for the first half of 2023 was CNY 1,127,372,065.58, a decrease of 63.49% compared to the previous year[50]. - The net profit for the first half of 2023 was CNY 34,258,008.17, a decline of 32% from CNY 50,517,261.47 in the same period of 2022[104]. - The total comprehensive income for the period was a loss of ¥13,198,367.77, compared to a loss of ¥37,872,813.64 in the previous year, reflecting a significant decrease in losses of approximately 65.2%[109]. Cash Flow and Financing - The net cash flow from operating activities improved to approximately -CNY 318.10 million, a 71.55% increase compared to -CNY 1.12 billion in the same period last year[22]. - The net cash flow from financing activities was approximately CNY 434.62 million, a significant increase of 618.48% compared to -CNY 83.83 million in the previous year[22]. - The net cash flow from financing activities surged by 618.48% year-on-year, reaching approximately 434.6 million RMB, mainly due to increased borrowings[42]. - Cash flow from operating activities showed a net outflow of ¥318,102,218.12, compared to a net inflow of ¥1,118,167,062.96 in the first half of 2022[111]. - Cash inflow from financing activities was 539,200,000.00 RMB, a substantial increase from 49,200,000.00 RMB in the same period last year[114]. Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 4.45 billion, a decrease of 1.18% from CNY 4.50 billion at the end of the previous year[23]. - The company's total liabilities increased to CNY 1,426,508,080.66 in the first half of 2023, compared to CNY 1,031,370,267.50 in the previous year, marking a rise of 38.3%[102]. - The total liabilities decreased from CNY 1,176,002,014.32 in December 2022 to CNY 1,118,278,060.34 in June 2023, a decline of approximately 4.9%[97]. - The company's total current assets amounted to RMB 2,603,210,651.67, a decrease from RMB 2,691,593,734.21 at the end of 2022, reflecting a decline of approximately 3.27%[94]. - The company's long-term equity investments rose to RMB 597,282,845.30 from RMB 504,008,007.61, marking an increase of around 18.52%[94]. Inventory and Operating Costs - The company's inventory increased by 111.95% year-on-year, amounting to approximately 1.07 billion RMB, primarily due to rising stock levels in subsidiaries[43]. - Operating costs also fell by 64.76% year-on-year to approximately 1.04 billion RMB, attributed to decreased sales activities[39]. - Total operating costs for the first half of 2023 were CNY 1,103,700,484.57, down from CNY 3,031,548,219.52 in the first half of 2022, reflecting a reduction of 63.6%[103]. Strategic Initiatives and Partnerships - The company is expanding its lithium carbonate production capacity, with a 1,000-ton integrated processing line already built and a 12,000-ton line under construction in Tongchuan[29]. - The company has established a strong partnership with major oil companies such as Sinopec and PetroChina, enhancing its market competitiveness[32]. - The company aims to leverage synergies between its storage, trading, and retail operations to enhance overall business performance[32]. - The company plans to enhance cooperation with large enterprises and explore new business types to increase revenue sources[58]. Regulatory and Compliance Matters - The company is currently undergoing a special audit regarding significant fund inflows and outflows, which may affect the accuracy of the financial report[4]. - The company has received inquiries from the Shanghai Stock Exchange regarding its 2022 annual report, which it is actively addressing[9]. - The company has implemented specific rectification measures regarding the fund occupation by its controlling shareholder and related parties, including strengthening internal controls and management of related party transactions[77]. Shareholder and Governance - The total number of ordinary shareholders as of the end of the reporting period is 22,750[85]. - The top shareholder, Tongchuan Huineng Xinneng Company, holds 89,934,087 shares, representing 19.21% of the total shares, with 44,967,043 shares pledged[87]. - The company experienced changes in its supervisory board, with one member resigning and another being elected[65]. Research and Development - Research and development expenses for the first half of 2023 amounted to CNY 1,009,012.71, reflecting the company's ongoing commitment to innovation[103]. Accounting Policies and Financial Reporting - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations for the next 12 months[128]. - The accounting policies comply with the relevant accounting standards, ensuring a true and complete reflection of the company's financial status and operating results[129]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a non-common control merger[134].