SMEG(SH:600689)2021-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥336,631,843.57, a decrease of 19.60% compared to ¥418,718,881.30 in the same period last year[19]. - The net profit attributable to shareholders was ¥6,835,747.17, a significant improvement from a loss of ¥4,035,549.62 in the previous year[19]. - The net cash flow from operating activities was -¥233,684.14, down 100.77% from ¥30,186,330.05 in the same period last year[19]. - The total assets at the end of the reporting period were ¥684,774,517.99, a slight decrease of 0.26% from ¥686,566,065.43 at the end of the previous year[19]. - The net assets attributable to shareholders increased by 1.60% to ¥433,526,277.14 from ¥426,690,529.97 at the end of the previous year[19]. - Basic earnings per share for the first half of 2021 were ¥0.034, compared to a loss of ¥0.020 in the same period last year[20]. - The weighted average return on net assets was 1.59%, an improvement from -0.87% in the previous year[20]. - The company reported a net loss of CNY 23,638,010.15 for the first half of 2021, an improvement from a loss of CNY 30,473,757.32 in the same period of 2020[78]. - The company reported a total profit of CNY 7,711,827.66 for the first half of 2021, compared to a total loss of CNY 3,245,991.01 in the same period last year[83]. - The company achieved a basic earnings per share of CNY 0.034 for the first half of 2021, compared to a loss per share of CNY -0.020 in the same period of 2020[84]. Revenue Breakdown - The security service segment generated revenue of 96.82 million RMB, reflecting a growth of 5.66% year-on-year[29]. - The property leasing segment achieved revenue of 14.31 million RMB, an increase of 10.25% compared to the previous year[29]. - The import and export trade revenue decreased by 18.53% year-on-year, while related trade services profits increased, leading to a reduction in overall losses by approximately 50,000 RMB[28]. - In the first half of 2021, the company's total import and export value reached $74.26 million, a year-on-year increase of 16.04%[24]. - The company's export value was $66.33 million, up 8.74% year-on-year, while import value surged by 164.34% to $7.94 million[24]. Cash Flow and Assets - Cash and cash equivalents decreased by 60.95% to ¥114,299,890.04, representing 16.70% of total assets[35]. - Trading financial assets increased by 866.14% to ¥200,325,700.00, accounting for 29.25% of total assets[35]. - Accounts receivable decreased by 34.12% to ¥44,964,739.94, which is 6.57% of total assets[35]. - Contract liabilities increased by 34.31% to ¥132,269,859.95, representing 19.32% of total assets[35]. - Cash and cash equivalents decreased to CNY 64,052,455.98 from CNY 127,275,123.24 at the end of 2020[79]. Investment and Financial Management - Investment income increased by 58.78% to ¥2,466,863.15, attributed to gains from the disposal of trading financial assets[33]. - The fair value change loss was ¥593,085.70, a significant improvement from a loss of ¥3,698,692.05 in the previous year[33]. - The company plans to enhance trade risk management and adjust trade structures to improve the import and export trade segment's performance[28]. - The company incurred CNY 180,072,985.00 in cash payments for investments, an increase from CNY 162,352,925.00 in the prior period[93]. Corporate Governance and Compliance - The company did not distribute profits or increase capital reserves in the first half of 2021, with no dividends or stock bonuses declared[47]. - There were no changes in the company's board of directors, supervisors, or senior management during the reporting period[48]. - The company is not classified as a key pollutant discharge unit and has not faced any administrative penalties related to environmental issues during the reporting period[50]. - The company is involved in a significant lawsuit regarding a land lease contract dispute, with ongoing court proceedings as of the report date[53]. - The company has not reported any significant market expansion or acquisition activities during the reporting period[49]. Risk Factors - The company faces macroeconomic risks due to ongoing global pandemic impacts and fluctuating exchange rates, which may affect operational performance[42]. - The company aims to enhance risk management and operational efficiency in its import-export trade and security service sectors to mitigate potential risks[44]. Accounting Policies - The financial statements have been prepared in accordance with the relevant accounting standards, ensuring transparency and compliance[108]. - The company recognizes losses exceeding minority shareholders' equity in subsidiaries, reducing minority interests accordingly[115]. - The company applies the equity method for investments in joint ventures[119]. - The company assesses expected credit losses for financial assets measured at amortized cost and those measured at fair value with changes recognized in other comprehensive income[131]. - The company recognizes contract liabilities when it has received or is entitled to receive consideration from customers for transferring goods or services[169]. Shareholder Information - The top shareholder, Chongqing Light Textile Holdings Group Co., Ltd., holds 25.95% of the shares, totaling 52,158,943 shares[69]. - The company has a total of 200,991,343 shares issued, with 152,204,143 shares being unrestricted A shares[100]. - The total equity attributable to minority shareholders was CNY 10,676,383.76 at the end of the reporting period[96].