Pinming Software(SH:688109)2021-08-24 16:00Financial Performance - The company's operating revenue for the first half of 2021 was approximately RMB 192.57 million, representing a year-on-year increase of 30.93% compared to RMB 147.08 million in the same period last year[20]. - The net profit attributable to shareholders of the listed company increased by 8.24% to approximately RMB 39.42 million, up from RMB 36.42 million in the previous year[20]. - The net assets attributable to shareholders of the listed company increased by 215.59% to approximately RMB 881.64 million, compared to RMB 279.36 million at the end of the previous year[20]. - Total assets grew by 157.14% to approximately RMB 951.37 million, up from RMB 369.99 million at the end of the previous year[20]. - The basic earnings per share decreased by 6.74% to RMB 0.83, down from RMB 0.89 in the same period last year[19]. - The cash flow from operating activities showed a significant decline, with a net outflow of approximately RMB 38.19 million compared to a net inflow of RMB 7.67 million in the previous year[20]. Research and Development - Research and development expenses accounted for 22.95% of operating revenue, a slight decrease of 0.17 percentage points from the previous year[19]. - The company achieved a total R&D investment of ¥44,185,618.77, representing a 29.97% increase compared to the previous period[42]. - The number of R&D personnel increased by 35% year-on-year, contributing to the rise in R&D expenses[44]. - The company holds a total of 9 invention patents, 12 utility model patents, 6 design patents, and 172 software copyrights as of the end of the reporting period[41]. - The company has established a core technology system through continuous R&D, integrating various technological innovations into its solutions[39]. - The company’s research and development strategy emphasizes independent innovation, supported by a product line R&D team structure to ensure market competitiveness[32]. Market and Product Development - The company focuses on "digital construction" technologies and products, providing solutions from the construction preparation phase to project acceptance, addressing needs in cost, safety, quality, schedule, and information management[25]. - The company has achieved breakthroughs in core technologies such as BIM algorithm engines and safety assistance technologies, leading to the commercialization of its digital construction products[26]. - The company has a diverse range of products and a strong market reputation, which is expected to enhance its market position further[36]. - The company has successfully transitioned from tool software to comprehensive solutions, enhancing its competitive edge in the industry[54]. - The company launched several new products, including video AI products and monitoring systems, enhancing its competitive edge in the smart construction site sector[64]. Financial Management - The company’s procurement model is based on a just-in-time approach, maintaining low levels of raw material inventory and aligning procurement with sales forecasts[30]. - The company reported a total non-recurring profit and loss of 6,624,499.29 CNY, with government subsidies contributing 5,040,908.60 CNY and fair value changes from financial assets generating 2,498,806.40 CNY[22]. - The company reported a net cash flow from financing activities of ¥559,851,486.21, attributed to funds raised from its initial public offering[74]. - Cash and cash equivalents at the end of the reporting period amounted to ¥318,035,652.59, a 130.52% increase from ¥137,965,689.13 at the end of the previous year[78]. - The company has approved the use of RMB 300 million of temporarily idle raised funds for cash management, with RMB 270 million in large time deposits as of June 30, 2021[109]. Corporate Governance and Compliance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - The company confirmed compliance with commitments made by major shareholders regarding stock transfer restrictions[92]. - The company will ensure compliance with the relevant laws and regulations regarding share transfers by core technical personnel[96]. - The company has committed to avoiding any actions that could harm the interests of other shareholders[101]. - The company has assured that all information disclosed in the IPO prospectus is truthful, accurate, and complete, bearing legal responsibility for any misrepresentation[98]. Industry Trends and Opportunities - The construction industry in China has an information technology investment of only 0.08% of total output value, compared to 1% in developed countries, indicating significant room for improvement[33]. - The application of BIM technology and smart construction is in a rapid development phase, providing new opportunities for the construction information technology industry[38]. - The construction industry is expected to shift towards platform-based operations as digitalization continues to penetrate the sector[38]. - The integration of new technologies such as GIS, big data, and cloud computing is driving rapid growth in the construction information technology sector[37]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 5,324[119]. - The largest shareholder, Mo Xujun, holds 13,437,508 shares, representing 24.71% of total shares[122]. - The company has a total of 243,000 restricted stock options granted to key personnel during the reporting period[128]. - The first restricted shares held by Mo Xujun will become tradable on March 30, 2024, after a 36-month lock-up period[125]. - The company has not experienced any significant changes in project feasibility during the reporting period[109].