WXHS(SH:603090)2022-08-29 16:00Financial Performance - The company's operating revenue for the first half of 2022 was CNY 337,957,470.89, representing a 33.02% increase compared to CNY 254,065,480.67 in the same period last year[21]. - The net profit attributable to shareholders of the listed company reached CNY 14,921,561.42, a significant increase of 92.89% from CNY 7,735,901.96 in the previous year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 14,230,398.33, up 143.89% from CNY 5,834,780.07 year-on-year[21]. - Basic earnings per share increased by 87.50% to CNY 0.15 compared to the same period last year[23]. - Net profit attributable to shareholders increased by 92.89% to CNY 1,492.16 million, with total revenue reaching CNY 33,795.75 million, a year-on-year growth of 33.02%[44]. - The weighted average return on equity rose to 2.87%, an increase of 1.33 percentage points from the previous year[23]. - The company reported a net cash flow from operating activities of -CNY 57.98 million, a decline of 1,121.00% year-on-year[44]. - The total assets of the company reached CNY 82,920.55 million, reflecting a year-on-year increase of 7.88%[44]. - The company reported a decrease in cash flow from investing activities, with cash inflow of CNY 89,118,063.58 in the first half of 2022, down from CNY 252,207,023.91 in the same period of 2021[110]. - The company’s total assets at the end of the first half of 2022 were RMB 511,698,268.88, reflecting its overall financial health[119]. Cash Flow and Investments - The net cash flow from operating activities was negative at CNY -579,813.50, a decline of 1,121.00% compared to CNY 56,789.04 in the same period last year[21]. - Investment activities generated a net cash flow of -CNY 769.61 million, an increase of 35.03% compared to the previous year[44]. - Cash flow from operating activities turned negative at -CNY 579,813.50, a decline of 1,121.00% compared to the previous year[46]. - Cash flow from financing activities also turned negative at -CNY 22,172,636.65, a decline of 651.01% compared to the previous year[46]. - The company raised CNY 2,597,000.00 from minority shareholders in the first half of 2022, compared to no such income in the previous year[111]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 829,205,508.53, reflecting a 7.88% increase from CNY 768,665,508.41 at the end of the previous year[21]. - Total liabilities increased to ¥317,507,239.65 from ¥241,326,303.07, which is an increase of approximately 31.6%[98]. - Total current assets increased to ¥512,736,956.81 from ¥460,267,742.87, representing an increase of approximately 11.8%[96]. - Total equity decreased to ¥511,698,268.88 from ¥527,339,205.34, a decline of approximately 2.9%[98]. - The company reported a decrease in cash and cash equivalents to ¥75,504,764.04 from ¥94,963,738.23, a drop of about 20.5%[96]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 8,149[84]. - The largest shareholder, Niu Yuxia, holds 49,175,000 shares, representing 49.18% of the total shares[86]. - Niu Yuxia reduced her holdings by 5,000,000 shares during the reporting period[86]. - The second largest shareholder, Shenzhen Lavender Enterprise Management Partnership, holds 5,000,000 shares, accounting for 5.00%[86]. - Niu Faqing, a director, reduced his holdings by 839,100 shares, bringing his total to 2,643,700 shares[90]. Research and Development - The company is focusing on the development of compact and efficient heat exchangers to meet the growing demands of electric vehicles and machinery[30]. - The company has achieved significant advancements in product research and development, supported by a leading wind tunnel testing system[40]. - Research and development expenses for the first half of 2022 were ¥12,267,536.53, an increase from ¥11,840,768.49 in the previous year[103]. Compliance and Governance - There were no significant lawsuits or arbitration matters during the reporting period[77]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or other related parties[76]. - There were no major related party transactions reported during the period[78]. - The company has ensured that all related party transactions are conducted at fair market prices and comply with legal procedures[75]. - The company has committed to not using any company funds or resources for personal gain by its controlling shareholders[75]. Market and Risks - The company relies heavily on exports, with approximately 70% of its business coming from international markets, exposing it to foreign market demand fluctuations[57]. - Major export markets include the United States, South Korea, the European Union, and India, with potential risks from trade protection policies that could affect pricing advantages and sales growth[58]. - Continuous investment in technology research and development is crucial; failure to innovate could lead to decreased competitiveness against rivals' products in terms of performance, quality, and price[58]. Accounting Policies - The financial statements are prepared based on the assumption of going concern, indicating the company has the ability to continue operations for at least 12 months from the reporting date[129]. - The company’s financial reports comply with the requirements of the enterprise accounting standards, ensuring a true and complete reflection of its financial status[130]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired on the purchase date[136]. - The company applies the equity method for investments in joint ventures, recognizing its share of assets, liabilities, and income[145].