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华嵘控股(600421) - 2019 Q2 - 季度财报
WSBEWSBE(SH:600421)2019-08-27 16:00

Financial Performance - The company's operating revenue for the first half of 2019 was ¥3,962,549.73, a decrease compared to the previous year's revenue of -¥34,104.54[18] - The net profit attributable to shareholders for the first half of 2019 was -¥4,085,674.44, worsening from -¥3,395,163.49 in the same period last year[18] - The net cash flow from operating activities was -¥5,955,637.71, compared to -¥1,529,785.99 in the previous year[18] - The company reported a consolidated revenue of CNY 3,962,549.73, with a net loss of CNY -4,650,203.50 for the reporting period[23] - The total profit for the first half of 2019 was -3,485,052.07 RMB, compared to -977,784.22 RMB in the same period of 2018, indicating a significant increase in losses[75] - The company experienced a comprehensive loss of -4,085,674.44 RMB during the first half of 2019, indicating financial challenges[82] - The total comprehensive income for the current period is -3,485,052.07 CNY, indicating a loss[86] Assets and Liabilities - The total assets at the end of the reporting period were ¥46,923,722.97, showing a slight increase of 0.99% from the previous year's total assets of ¥46,464,616.19[18] - The company's total current assets reached CNY 8,648,223.45, compared to CNY 8,239,104.44 at the end of 2018, reflecting a growth of approximately 4.96%[64] - The total liabilities increased to CNY 39,620,732.70 from CNY 34,511,422.42, indicating a rise of about 14.5%[66] - The company's total assets amounted to CNY 41,723,943.71, an increase from CNY 40,113,187.35 in the previous year[70] - Total liabilities reached CNY 40,791,721.81, up from CNY 35,695,913.38 year-on-year[70] - The total equity attributable to shareholders decreased to CNY -1,953,248.66 from CNY 2,132,425.78, indicating a negative shift in shareholder equity[66] Cash Flow - The net cash flow from operating activities was CNY -5,955,637.71, indicating a significant cash outflow[29] - The total cash outflow from operating activities was 11,195,814.91 RMB, compared to 7,135,916.97 RMB in the first half of 2018, reflecting an increase of approximately 56.9%[78] - The company's cash flow from operating activities was significantly impacted by increased payments to employees, totaling 990,599.76 RMB, compared to 344,480.60 RMB in the previous year[80] - The company received 5,310,000.00 RMB from financing activities in the first half of 2019, indicating a new influx of capital[78] Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 6,331[53] - The top ten shareholders held the following shares: Zhejiang Hengshun Investment Co., Ltd. (19.50%), Wuhan New Generation Technology Co., Ltd. (17.50%), and Shanghai Tianji Investment Co., Ltd. (12.46%)[54] - The new controlling shareholder is Zhejiang Hengshun Investment Co., Ltd. with the actual controller being Lou Yongliang, effective from January 24, 2019[56] Management and Operations - The company has been under delisting risk warning since April 29, 2019, due to consecutive negative net profits and low operating revenue[7] - The company is exploring new business opportunities while managing risks associated with its current operations[25] - The company has strengthened internal management and compliance with internal control systems[27] - The company is actively seeking support from major shareholders to stabilize operations and explore new business opportunities[42] Subsidiaries and Investments - The company currently operates only one subsidiary, Fuzeyuan, which has a small scale and profitability, leading to a potential cumulative net profit loss by the end of the next reporting period[36] - The subsidiary Fuzeyuan (Beijing) Cultural Development Co., Ltd. generated sales revenue of CNY 3,962,549.73 and a net profit of CNY 1,093,778.72[25][35] - The company attempted to sell its 75% stake in Shanghai Aobai Internal Combustion Engine Parts Co., Ltd. but the sale was terminated due to lack of agreement from minority shareholders[26][34] Financial Management - The company has not proposed any profit distribution or capital reserve increase plans for the half-year period, with no dividends or stock bonuses declared[40] - The company plans to manage and dispose of idle assets, particularly from its 75% owned subsidiary, Shanghai Aobai, which has ceased production[43] - The company has borrowed 5 million yuan from its indirect controlling shareholder, with a loan term of 12 months at an interest rate of 4.35% per annum[47] Accounting Policies - The financial statements are prepared based on the assumption of going concern, reflecting the company's financial position and operating results accurately[94] - The company adheres to the accounting policies and estimates in accordance with the relevant accounting standards, ensuring the completeness and truthfulness of financial reporting[94] - The company uses RMB as its functional currency for accounting purposes[97] Taxation - The company’s tax rates include a corporate income tax rate of 15%, 20%, and 25% depending on the taxable income[175] - The company has adjusted its VAT rates, with the standard rate reduced from 16% to 13% effective April 1, 2019[175]