*ST园城(600766) - 2020 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 7,222,785.78, representing a 133.89% increase compared to CNY 3,088,134.54 in the same period last year[16]. - The net profit attributable to shareholders was a loss of CNY 487,247.08, a decrease of 302.20% from a profit of CNY 240,970.31 in the previous year[16]. - The net cash flow from operating activities was a negative CNY 3,700,749.20, slightly worse than the negative CNY 3,579,942.34 recorded in the same period last year, reflecting a 3.37% decline[16]. - The basic earnings per share for the first half of 2020 were -0.0022, a decrease of 300.00% from 0.0011 in the same period last year[17]. - The company reported a net loss of CNY 392,143,393.13, compared to a loss of CNY 391,656,146.05 in the previous period, indicating a slight increase in losses[60]. - The total comprehensive income for the first half of 2020 was a loss of ¥487,247.08, compared to a total comprehensive income of ¥179,426.41 in the same period of 2019[67]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 155,313,567.82, an increase of 2.20% from CNY 151,966,772.41 at the end of the previous year[16]. - The net assets attributable to shareholders at the end of the reporting period were CNY 60,779,171.70, a slight decrease of 0.80% from CNY 61,266,418.78 at the end of the previous year[16]. - Current liabilities totaled CNY 92,151,268.85, compared to CNY 88,317,226.36, indicating an increase of about 4.7%[60]. - Total liabilities reached CNY 94,534,396.12, up from CNY 90,700,353.63, representing an increase of approximately 4.0%[60]. - Owner's equity decreased slightly to CNY 60,779,171.70 from CNY 61,266,418.78, a decline of about 0.8%[60]. Cash Flow - Operating cash inflow for the first half of 2020 was 8,270,560.58 RMB, a significant increase from 4,064,472.73 RMB in the same period of 2019, representing a growth of 103.1%[72]. - Total cash outflow from operating activities was 11,971,309.78 RMB, compared to 7,644,415.07 RMB in the first half of 2019, indicating an increase of 56.5%[73]. - Cash inflow from financing activities totaled 5,800,000.00 RMB in the first half of 2020, compared to 5,160,400.00 RMB in the same period of 2019, marking an increase of 12.4%[75]. - The net cash flow from financing activities was 3,648,971.34 RMB, up from 3,552,400.00 RMB in the first half of 2019, reflecting a growth of 2.7%[76]. - Cash and cash equivalents at the end of the first half of 2020 were 2,038,788.47 RMB, compared to 1,417,513.52 RMB at the end of the first half of 2019, an increase of 43.7%[77]. Business Operations - The company engaged in gold mine management and trade, focusing on steel, cables, and coal sales during the reporting period[19]. - The company planned to acquire 100% equity of "Jintongyuan" and other companies through a combination of cash and stock issuance, but the transaction was later terminated due to underperformance and pandemic impacts[24]. - The company will explore new business opportunities to enhance future profitability based on its existing gold mine management and other operations[24]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 30,956[47]. - The largest shareholder, Xu Chengdong, holds 64,640,000 shares, representing 28.83% of the total shares, with 15,586,100 shares pledged[49]. - There has been no change in the total number of shares or the capital structure of the company during the reporting period[46]. Legal Matters - There are ongoing significant litigation matters involving the company, including guarantees related to loans taken by a subsidiary[34]. - The company has a pending lawsuit against Shandong Jiawei Group for overdue payments amounting to RMB 12,007,053.10, which includes principal of RMB 6,200,000 and interest of RMB 5,807,053.10[37]. Management and Governance - The company emphasized the importance of a professional management team and technological innovation to ensure low-cost and high-yield development of the gold mine resources[20]. - There are no significant changes in the management team reported during the period[54]. - The financial report was approved by the board on August 25, 2020[94]. Accounting and Financial Reporting - The financial statements are prepared based on the going concern assumption and comply with the relevant accounting standards[96]. - The company uses RMB as its functional currency for accounting purposes[102]. - The company has adopted the new revenue recognition standards effective January 1, 2020, impacting retained earnings and related financial statement items[192]. Inventory and Assets Management - The company classifies inventory primarily into low-value consumables, development costs, and development products, with inventory measured at the lower of cost and net realizable value[133]. - The group recognizes impairment losses for financial assets measured at amortized cost and debt instruments measured at fair value with changes recognized in other comprehensive income, including receivables and long-term receivables[126].