Appo(SH:688007)2022-08-19 16:00Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[16]. - The company's operating revenue for the first half of 2022 reached RMB 1,269,322,202.11, representing a year-on-year increase of 14.90%[22]. - Net profit for the first half of 2022 was RMB 18,539,942.30, a decrease of 89.7% compared to RMB 179,794,899.69 in the first half of 2021[193]. - The net profit attributable to shareholders decreased by 69.64% to ¥45,966,481.10 compared to the same period last year[22]. - Basic earnings per share fell by 69.70% to ¥0.10, with diluted earnings per share also at ¥0.10[23]. - The total comprehensive income attributable to the parent company for the first half of 2022 was approximately ¥32.12 million, a significant decrease from ¥175.06 million in the same period of 2021[194]. - The net cash flow from operating activities decreased by 146.03%, amounting to -¥78,553,359.67, primarily due to reduced cinema service income and increased expenses[26]. - The company's operating costs increased by 22.24% year-on-year, primarily due to the growth in operating revenue and changes in revenue structure[79]. Research and Development - Research and development expenses increased by 30% to RMB 150 million, reflecting the company's commitment to innovation[16]. - R&D expenses totaled approximately ¥114.96 million, representing a 20.85% increase compared to the previous year, with R&D expenses accounting for 9.06% of operating revenue[44]. - The company invested significantly in R&D for laser display technology, focusing on miniaturization, optical materials, and various application scenarios, leading to breakthroughs in portable laser projectors and automotive-grade laser projectors[38]. - The company launched the flagship V10 4K ultra HD projector with a brightness of over 2,500 lumens and a resolution of 3,840 x 2,160 pixels, featuring AI image enhancement and automatic calibration functions[40]. - The new G series high-brightness engineering projector achieved a brightness of 25,000 lumens, expanding the application range of high-brightness projectors[41]. Market Expansion and Strategy - User data showed an increase in active users by 20%, reaching 5 million by the end of June 2022[16]. - The company plans to launch three new products in the second half of 2022, focusing on enhancing user experience and expanding market share[16]. - Future outlook includes a revenue growth target of 25% for the full year 2022, driven by new product launches and market expansion efforts[16]. - The company aims to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[16]. - The company is expanding its market presence in new fields such as automotive displays and AR applications, leveraging its proprietary laser display technology[31]. Financial Position and Assets - The total assets at the end of the reporting period were ¥4,124,469,910.64, a slight increase of 0.66% from the previous year[22]. - The company's total equity reached RMB 2,401,086,894.28, up 1.2% from RMB 2,371,891,498.55 year-on-year[191]. - The company's long-term equity investments decreased to ¥159,724,538.60 from ¥293,601,085.27, representing a decline of approximately 45.4%[184]. - The company's accounts receivable stood at ¥360,460,653.70, down from ¥403,134,471.87, reflecting a decrease of approximately 10.6%[184]. - The company's cash and cash equivalents amounted to ¥1,045,392,014.30, an increase from ¥957,729,831.15 at the beginning of the period, reflecting a growth of approximately 9.3%[184]. Risks and Challenges - The company has identified several risk factors, including market competition and supply chain disruptions, which may impact future performance[16]. - The company faced risks related to the ongoing COVID-19 pandemic, which could impact product launches and order acquisition[74]. - The cinema screening service business faced challenges due to the pandemic but is expected to rebound quickly with upcoming peak seasons and supportive government policies[69]. Legal and Compliance - The company reported a significant lawsuit involving infringement of its invention patent rights, with a claim for damages amounting to RMB 80 million[127]. - The company is currently involved in multiple patent infringement lawsuits, with claimed damages totaling RMB 3.202 million and RMB 1.61453 million in separate cases[131]. - The company is actively pursuing legal actions against competitors for patent infringements, indicating a proactive approach to protecting its intellectual property[131]. - There are no significant non-operating fund occupations by controlling shareholders or related parties during the reporting period[126]. Shareholder Information - The total number of common shareholders as of the end of the reporting period is 13,652[169]. - The largest shareholder, Shenzhen Guangfeng Holdings Co., Ltd., holds 79,762,679 shares, accounting for 17.62% of total shares[171]. - The company has a total of 79,762,679 restricted shares that will become tradable on July 22, 2022, with a lock-up period of 36 months[172]. - The company has not reported any changes in the number of restricted shares held by major shareholders during the reporting period[171].