Taihe(SH:605081)2023-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2023 was ¥101,108,576.37, a decrease of 27.93% compared to ¥140,296,285.96 in the same period last year[19]. - The net profit attributable to shareholders was -¥16,844,285.55, representing a decline of 160.64% from ¥27,775,725.66 in the previous year[19]. - Basic earnings per share for the first half of 2023 were -¥0.15, a decrease of 160.00% compared to ¥0.25 in the same period last year[20]. - The weighted average return on net assets was -1.06%, a decrease of 2.59 percentage points from 1.53% in the previous year[20]. - The decline in revenue was primarily due to macroeconomic impacts and a reduction in new project openings[21]. - The company achieved operating revenue of CNY 101.11 million in the first half of 2023, a decrease of 27.93% compared to CNY 140.30 million in the same period last year[29]. - The net profit attributable to shareholders was CNY -1.68 million, representing a decline of 160.64% year-on-year[29]. - The company reported a total revenue of 67,510.90 million CNY, with a net loss of 4,263.82 million CNY for the first half of 2023[48]. - The company reported a net profit of CNY 3,833,111 for the first half of 2023, compared to a loss of CNY 78,101,429 in the same period last year[144]. Cash Flow and Assets - The net cash flow from operating activities was -¥56,753,381.97, an improvement of 18.31% compared to -¥69,470,484.77 in the same period last year[19]. - The company's cash and cash equivalents decreased by 18.68% to ¥433,457,487.23, representing 23.28% of total assets[34]. - Net cash flow from investing activities surged by 230.08% to ¥88,763,614.51, primarily due to the maturity of time deposits[32]. - The company's accounts receivable turnover days are increasing due to economic downturn, impacting cash flow management[53]. - The ending balance of cash and cash equivalents was CNY 242,456,559.51, compared to CNY 301,345,476.10 at the end of the first half of 2022[127]. - The total current assets amounted to RMB 1,368,867,859.79, a decrease from RMB 1,462,043,310.25 at the end of 2022, reflecting a decline of approximately 6.4%[110]. Investment and R&D - The company authorized 9 patents in the first half of 2023, including 1 invention patent, and published a group standard for ecological restoration[29]. - R&D expenses decreased by 3.49% to ¥8,177,653.03 compared to the previous period[32]. - The company is focusing on technological innovation by collaborating with universities to enhance ecological restoration capabilities[29]. - The company is considering strategic acquisitions to bolster its market position and drive future growth[144]. Market and Competition - The water environment governance industry is experiencing reduced investment demand, impacting the company's order intake and project cash flow[29]. - The company is facing market competition risks, which could lead to performance declines if competitive advantages are not maintained[52]. - Talent retention is a significant concern, with the company emphasizing the importance of skilled project management personnel[52]. Shareholder and Governance - The company did not distribute profits or increase capital reserves during the reporting period[4]. - The company has not declared dividends to shareholders during the period, impacting financing cash flow[33]. - The controlling shareholder He Wenhui has committed to not transferring or entrusting the management of shares held before the IPO for 36 months from the date of listing[68]. - The company guarantees the authenticity of its IPO prospectus, committing to repurchase shares if any false statements or omissions are identified[73]. Compliance and Commitments - The company will ensure that any related party transactions are conducted on a fair and just basis, safeguarding the rights of the company and its subsidiaries[84]. - The actual controller, He Wenhui, has pledged not to occupy the company's funds through loans or other means, effective from the date of the commitment letter[85]. - If the company fails to fulfill its commitments, it will publicly explain the reasons and apologize to shareholders, and may need to compensate investors for any losses incurred[86]. Future Outlook - The company has indicated plans for market expansion and new product development in the upcoming quarters[139]. - The future outlook remains cautiously optimistic, with performance guidance suggesting a potential recovery in the next fiscal period[139].