Daqian(SH:603955)2021-08-25 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥264,192,565.78, a decrease of 37.07% compared to the same period last year[21] - The net profit attributable to shareholders for the first half of 2021 was ¥38,467,529.90, down 19.55% year-on-year[21] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥27,971,028.34, a decline of 40.41% compared to the previous year[21] - Basic earnings per share for the first half of 2021 were ¥0.2834, a decrease of 30.73% year-on-year[22] - The weighted average return on net assets was 2.45%, down 1.25 percentage points from the previous year[22] - Basic earnings per share decreased by 30.73% year-on-year, and the basic earnings per share after deducting non-recurring gains and losses decreased by 48.68% year-on-year, mainly due to the decline in net profit and an increase in the number of shares[23] - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the first half of 2021, representing a year-over-year growth of 20%[67] - The net profit for the first half of 2021 was CNY 44,971,666.15, a decline of 13% from CNY 51,847,982.51 in the first half of 2020[94] - The company's net profit for the first half of 2021 was CNY 25,454,297.01, a decrease of 33.4% compared to CNY 38,194,837.85 in the same period of 2020[98] - Total comprehensive income for the first half of 2021 was CNY 25,068,391.12, compared to CNY 38,070,765.99 in the first half of 2020, reflecting a decline of 34.2%[99] Cash Flow and Assets - The net cash flow from operating activities was ¥6,189,353.63, a significant improvement from a negative cash flow of ¥260,213,822.25 in the same period last year[21] - The company's cash flow from operating activities was CNY 6,189,353.63, significantly improving from a negative cash flow of CNY -260,213,822.25 in the same period last year[42] - The company reported cash and cash equivalents at the end of the period amounting to CNY 728,308,885.12, an increase from CNY 485,456,556.30 at the end of the previous year[102] - The total cash and cash equivalents at the end of the first half of 2021 stood at ¥438,032,034.91, an increase from ¥396,439,358.90 at the end of the previous year[105] - The company reported restricted cash of ¥50,822,067.64 due to bank acceptance bill margin, guarantee margin, and performance margin[49] - Long-term receivables amounting to ¥843,278,436.27 are restricted due to project financing pledges and mortgages[49] - The company's total assets amounted to CNY 3,726,871,937.73, an increase from CNY 3,614,826,441.91 as of December 31, 2020, reflecting a growth of approximately 3.1%[86] - The company's current assets totaled CNY 2,089,807,061.75, slightly up from CNY 2,087,906,135.64 at the end of 2020[86] - The company's total liabilities were CNY 1,956,615,665.25, up from CNY 1,890,581,645.27, marking an increase of approximately 3.5%[88] - The total liabilities at the end of the reporting period were 1,590,617,715.13 RMB, reflecting a decrease from 1,406,983,529.55 RMB at the beginning of the year, which suggests improved financial stability[110] Business Strategy and Operations - The company attributed the decline in revenue and profit primarily to a decrease in engineering construction volume during the reporting period[22] - The company focuses on urban renewal, rural revitalization, and ecological restoration, aiming to become an excellent comprehensive ecological service provider[28] - The company is actively expanding its ecological restoration and cultural tourism operations, with a strong emphasis on the EPC (Engineering, Procurement, and Construction) business model as a development priority[30] - The company has established strong customer resources, primarily serving local governments and state-owned enterprises, which supports its long-term stable development[36] - The management team is becoming younger and more professional, enhancing the company's innovative capabilities and project management efficiency[37] - The company has initiated a management reform themed "Second Entrepreneurship," aimed at simplifying management and enhancing operational efficiency[43] - The company is actively exploring digital transformation and has increased research on landscape information modeling (LIM) technology[41] - The company has established multiple new subsidiaries, including Daqian Ecological Technology and Daqian Urban and Rural, focusing on environmental technology and engineering design, respectively[51] - The company is facing potential risks but has not disclosed specific details in the report[52] - The company has not disclosed any plans for new products, technologies, market expansion, or mergers and acquisitions in this report[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,782[76] - Jiangsu Daqian Investment Development Co., Ltd. held 41,779,787 shares, accounting for 30.78% of total shares, with 12,400,000 shares pledged[78] - Anhui Xinhua Publishing (Group) Holding Co., Ltd. held 14,137,500 shares, representing 10.42% of total shares[78] - Nanjing Anju Construction Group Co., Ltd. held 11,887,072 shares, which is 8.76% of total shares[78] - Far East Holding Group Co., Ltd. held 9,100,000 shares, accounting for 6.70% of total shares, with all shares pledged[78] - The company reported no significant changes in its share capital structure during the reporting period[75] - There were no changes in the number of shares held by the top ten shareholders during the reporting period[78] Environmental and Social Responsibility - The company actively engages in ecological landscape planning, design, construction, and operation, promoting low-carbon and environmentally friendly practices[62] - During the reporting period, the company undertook various ecological environment protection projects, contributing to carbon emission reduction efforts[63] - The company supports rural revitalization projects, improving local living conditions and infrastructure in Jiangsu and Jiangxi provinces[64] - The company has implemented measures for energy conservation and waste reduction in its operations, including paper and electricity savings[63] - The company emphasizes the importance of ecological civilization and actively participates in projects that align with national environmental policies[62] - The company has made substantial investments in technology research and development for environmental restoration and water management[62] - The company has created new employment opportunities for local residents through its rural development initiatives[64] - The company is not classified as a key pollutant discharge unit and has not faced any administrative penalties related to environmental issues[61] - The company has not disclosed any other environmental information due to its non-classification as a key pollutant discharge unit[62] Risk Management and Compliance - The company has established a robust strategy for risk management, particularly in relation to financial and operational risks associated with market expansion[71] - The company has committed to maintaining compliance with all regulatory requirements, ensuring transparency in its financial practices[68] - The company has maintained a stable capital structure with no significant changes in the number of shares issued, remaining at 135,720,000.00 CNY[120] - The company has a strong belief in its ability to continue as a going concern for at least the next 12 months[127] Financial Reporting and Accounting - The financial report was approved for release on August 25, 2021[124] - The company's financial statements comply with accounting standards, accurately reflecting its financial position and operating results[130] - The accounting period for the company runs from January 1 to December 31, with the current reporting period being from January 1, 2021, to June 30, 2021[132] - The company applies the equity method for accounting for joint ventures and recognizes its share of assets and liabilities accordingly[141] - The company recognizes financial assets or liabilities when it becomes a party to a financial instrument contract[147] - The company measures financial assets at amortized cost if the cash flow characteristics align with basic lending arrangements[152] - The company assesses expected credit losses considering all reasonable and evidence-based information, including forward-looking information[166]