Qianjing Landscape(SH:603778)2021-08-27 16:00Financial Performance - The company reported a revenue of CNY 89.07 million for the first half of 2021, a decrease of 21.05% compared to CNY 112.81 million in the same period last year[17]. - The net profit attributable to shareholders was a loss of CNY 18.31 million, which is a decline of CNY 0.74 million from a loss of CNY 10.91 million in the previous year[20]. - The net cash flow from operating activities was a negative CNY 103.14 million, a decrease of CNY 21.80 million compared to the previous year's negative CNY 81.34 million[20]. - The company's total assets decreased by 1.19% to CNY 2.14 billion from CNY 2.16 billion at the end of the previous year[17]. - The net assets attributable to shareholders decreased by 1.63% to CNY 1.40 billion from CNY 1.43 billion at the end of the previous year[17]. - The basic and diluted earnings per share were both -CNY 0.03, compared to -CNY 0.02 in the same period last year[19]. - The company faced increased credit loss provisions of CNY 33.54 million due to extended accounts receivable periods influenced by macroeconomic policies[20]. - The decline in revenue was attributed to a cautious approach towards large real estate and municipal projects, resulting in fewer new contracts signed[20]. - The company is currently in the final stages of previously expanded EPC projects and greening construction projects, which contributed to the revenue decline[20]. - The company reported a total non-operating income of 1,274,025.70 million after accounting for tax impacts[23]. - The company reported a net profit of CNY -58.04 million for Beijing Qianjing Garden Planning Design Co., Ltd., indicating a loss in the landscape design segment[62]. - The company reported a comprehensive loss of RMB 20,690,443.11 for the first half of 2021[136]. Business Operations - The company is engaged in the landscaping industry, focusing on integrated operations including technology research and development, seedling planting, and landscape design[25]. - The company has established a diversified business layout, including ecological construction, planning design, ecological tourism, and environmental technology[27]. - The company continues to promote strategic transformation and upgrade in its ecological construction sector, covering municipal greening and ecological restoration[27]. - The company’s main business model includes project bidding, contract signing, project team formation, and project implementation[28]. - The company aims to create sustainable modern engineering by integrating design and construction with environmental considerations[27]. - The company has participated in significant projects such as the Beijing World Horticultural Expo and various municipal landscape projects[26]. - The company signed 2 contracts for ecological engineering construction with a total contract amount of RMB 18.52 million and 4 contracts for landscape design with a total amount of RMB 1.06 million[43]. - The company has established subsidiaries in multiple regions, including Beijing, Anhui, Fujian, and others, to enhance market share and resource integration[38]. - The company has actively promoted strategic transformation while deepening its main business in ecological construction and planning design[44]. - The company has formed an integrated business model covering technology research and development, seedling planting and maintenance, landscape design, and engineering construction[38]. Financial Management - The company has not proposed any profit distribution or capital reserve transfer to shareholders during this reporting period[5]. - The company reported a government subsidy of 26,635.09 million, primarily due to individual income tax refunds[22]. - The company recognized a financial income of 1,454,180.90 million from the fair value changes of financial assets and derivatives[23]. - The company raised a total of RMB 510 million through a private placement of 142,857,142 shares in 2020, enhancing its capital strength and risk resistance[45]. - The company plans to repurchase shares at a price not exceeding RMB 5.5 per share, with a total repurchase fund of no less than RMB 40 million and no more than RMB 80 million[48]. - The company reported a total guarantee amount of RMB 6,300,000, which accounts for 4.49% of the company's net assets[94]. - The company has repurchased a total of 2,485,950 shares, representing 0.39% of the total share capital, with a total payment of RMB 9,998,602[97]. - The company has no outstanding guarantees for subsidiaries, with a total guarantee amount of RMB 6,300,000 for other parties[94]. - The company has no significant related party transactions or changes in related transactions during the reporting period[92]. - The company has no rental income or significant leasing agreements affecting its financial performance[92]. Market Strategy - The company aims to strengthen market marketing and project management to enhance its competitive edge during its strategic transformation[66]. - The company is expanding its market presence in Asia, targeting a 20% increase in market share by the end of the year[88]. - Research and development investments increased by 30%, focusing on innovative technologies to enhance product offerings[87]. - The company has initiated a strategic acquisition plan, aiming to acquire two smaller firms to bolster its technology capabilities[86]. - A new marketing strategy has been implemented, projected to increase customer engagement by 40%[84]. Shareholder Information - Total number of ordinary shareholders reached 38,308 by the end of the reporting period[105]. - The top shareholder, Yang Jing, holds 103,887,368 shares, representing 16.16% of total shares, with 32,000,000 shares reduced during the reporting period[106]. - The second-largest shareholder, Hui Quanfu, holds 94,776,639 shares, accounting for 14.74% of total shares, with no changes during the reporting period[106]. - The third-largest shareholder, Handan Hexin Equity Investment Fund, holds 70,028,011 shares, which is 10.89% of total shares[106]. - The company has a total of 142,857,142 restricted shares at the beginning of the reporting period, with no shares released or added during the period[104]. - The top ten shareholders collectively hold a significant portion of the company's equity, with the largest four shareholders alone accounting for over 56% of total shares[106]. Compliance and Governance - The company reported no significant legal issues or regulatory penalties during the reporting period, maintaining a strong compliance record[88]. - The board of directors reaffirmed their commitment to shareholder returns, with plans for a dividend increase of 10% in the upcoming quarter[83]. - The company has made commitments regarding shareholding and competition, ensuring no engagement in competing businesses[78]. - The company has a share transfer limit for its directors and senior management, restricting annual transfers to 25% of their holdings[80]. - The company has committed to repurchasing shares if any false statements are identified in its IPO prospectus[80]. Environmental and Social Responsibility - The company is not classified as a key pollutant discharge unit and has not faced any administrative penalties related to environmental issues[74]. - The company adheres to national policies on carbon neutrality and focuses on green low-carbon development in its operations[75]. - Recent projects include ecological construction initiatives aimed at improving natural environments, such as the Sichuan Qionglai Spring Lake Wetland Park project[74]. - There are no reported measures taken to reduce carbon emissions during the reporting period[76]. Accounting Policies - The financial statements are prepared based on the assumption of going concern, supported by the group's recent profitable operating history and financial resources[156]. - The accounting policies and estimates have been tailored to the group's operational characteristics, including provisions for bad debts and revenue recognition[157]. - The financial statements comply with the requirements of enterprise accounting standards, accurately reflecting the company's financial position and operating results[158]. - The company's functional currency for accounting purposes is Renminbi[161]. - The company assesses expected credit losses for receivables based on the entire lifetime of the asset, categorizing them into different groups based on credit risk characteristics[187].