*ST莫高(600543) - 2021 Q2 - 季度财报

Financial Performance - The company achieved operating revenue of RMB 63,104,523.29, representing a 73.75% increase compared to the same period last year[20]. - The net profit attributable to shareholders was a loss of RMB 15,699,590.41, which is an increase in loss by RMB 6,327,017.65 compared to the previous year[22]. - The revenue from the wine business was RMB 33,308,472.16, up 70.43% from RMB 19,543,222.25 in the same period last year[20]. - The revenue from biodegradable materials reached RMB 20,856,343.74, a significant increase of 193.43% from RMB 7,107,831.21[20]. - The basic earnings per share were -0.05, compared to -0.03 in the same period last year[21]. - The company reported a total cash inflow from sales of goods and services of ¥78,031,728.84 in the first half of 2021, an increase from ¥58,104,011.69 in the first half of 2020, marking a growth of approximately 34.4%[103]. - The total profit for the first half of 2021 was a loss of CNY 18,372,435.29, compared to a loss of CNY 11,351,642.84 in the first half of 2020[97]. Cash Flow and Investments - The net cash flow from operating activities was RMB 1,679,887.87, compared to a negative RMB 4,312,711.31 in the previous year[20]. - The investment cash flow net amount increased by CNY 81,284,520.62, compared to CNY -161,342,901.70 in the previous year, indicating a positive shift in investment activities[35]. - The net cash flow from investment activities was negative at -¥9,702,948.78 for the first half of 2021, compared to a larger negative cash flow of -¥148,364,258.31 in the same period of 2020[107]. - Cash inflow from investment activities decreased to ¥101,358,630.12 in the first half of 2021, down from ¥176,141,123.28 in the first half of 2020, reflecting a decline of approximately 42.5%[104]. Assets and Liabilities - The total assets decreased by 8.82% to RMB 1,238,176,535.66 from RMB 1,357,950,223.38 at the end of the previous year[20]. - The net assets attributable to shareholders decreased by 1.34% to RMB 1,156,635,363.43 from RMB 1,172,334,953.84[20]. - Total liabilities decreased from ¥203,708,379.98 to ¥101,208,330.50, a reduction of about 50.3%[91]. - Current liabilities decreased from ¥119,811,176.02 to ¥74,998,763.08, a decrease of approximately 37.4%[90]. Operational Challenges - The wine business remains under pressure due to a sluggish consumer market, with revenue growth limited compared to 2019 levels, indicating ongoing challenges[32]. - The company faces macroeconomic risks, including potential impacts from a slowing domestic economy, which could lead to reduced consumption and growth in the wine sector[50]. - Increased competition in the wine industry is anticipated due to lower import tariffs on foreign wines, posing a risk to domestic wine producers[50]. - The company is experiencing rising costs in packaging materials, transportation, and cultivation, which may pressure profit margins[51]. Corporate Governance and Compliance - The company guarantees that it will not engage in any competitive business activities with its controlling shareholders or related parties[65]. - The company has established a complete governance structure to ensure independent operation and decision-making[64]. - The company has complied with all legal and regulatory requirements, ensuring no instances of dishonesty by the company or its controlling shareholders[69]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[69]. Shareholder Information - Total number of common shareholders as of the end of the reporting period is 45,943[77]. - The largest shareholder, Gansu Agricultural Reclamation Group Co., Ltd., holds 45,819,636 shares, accounting for 14.27% of total shares[79]. - Gansu Huangyanghe Agricultural Industry Group Co., Ltd. holds 42,729,215 shares, representing 13.31% of total shares[80]. Research and Development - Research and development expenses were CNY 199,217.77 in the first half of 2021, slightly down from CNY 209,937.13 in the first half of 2020[96]. - The company has not disclosed any new product developments or technological advancements in the current report[116]. Environmental and Social Responsibility - Environmental measures include the use of drip irrigation in vineyards to enhance water efficiency and ongoing efforts to improve the ecological environment around production areas[60]. - The company is actively monitoring previously impoverished populations to prevent any return to poverty, aligning with broader rural revitalization efforts[61]. Accounting Policies - The financial statements were prepared based on the going concern assumption, with no significant doubts regarding the company's ability to continue operations for the next 12 months[126]. - The company uses Renminbi as its functional currency for accounting purposes[130]. - The company assesses long-term assets for impairment at each balance sheet date, recognizing impairment losses if the recoverable amount is less than the carrying amount[178].