Bingo Software (SH:688227)2022-08-29 16:00Financial Performance - The company achieved operating revenue of CNY 104.14 million in the first half of 2022, an increase of 1.97% compared to the same period last year [21]. - The net profit attributable to shareholders was CNY -17.90 million, compared to CNY -12.24 million in the previous year, indicating a loss [21]. - The net cash flow from operating activities was CNY -50.24 million, worsening from CNY -26.06 million in the same period last year [21]. - The company's total assets decreased by 13.17% to CNY 1.69 billion compared to the end of the previous year [21]. - The net assets attributable to shareholders decreased by 2.36% to CNY 1.37 billion compared to the end of the previous year [21]. - The basic earnings per share were CNY -0.16, compared to CNY -0.14 in the previous year [22]. - The net profit attributable to shareholders of the listed company was -17.8983 million yuan, a decrease of 5.6539 million yuan year-on-year, representing a decline of 46.18% [24]. - The net cash flow from operating activities was -50.2385 million yuan, a decrease of 24.1799 million yuan year-on-year, representing a decline of 92.79% [24]. - The basic earnings per share was -0.16 yuan/share, a decrease of 0.02 yuan/share year-on-year, representing a decline of 9.63% [25]. - The company reported a net loss for the first half of 2022 of CNY 19,903,008.01, compared to a net loss of CNY 14,659,252.18 in the same period of 2021, reflecting a deterioration in performance [189]. Research and Development - The research and development expenditure accounted for 24.92% of operating revenue, an increase of 5.31 percentage points from the previous year [23]. - The company achieved a total R&D investment of ¥25,947,311.77, representing a 29.58% increase compared to ¥20,024,491.11 in the same period last year [51]. - R&D investment accounted for 24.92% of total revenue, up from 19.61% year-over-year, indicating a 5.31% increase in the ratio [51]. - The company holds a total of 35 invention patents and 267 software copyrights as of June 30, 2022, with 2 new invention patents and 4 new software copyrights obtained during the reporting period [49]. - Research and development expenses increased to CNY 25,947,311.77 in the first half of 2022, compared to CNY 20,024,491.11 in the previous year, marking a rise of approximately 29.8% [188]. Operational Risks and Governance - The company has outlined various operational risks and corresponding mitigation measures in the report [4]. - The report includes a forward-looking statement risk declaration, indicating potential uncertainties in future plans [7]. - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties [10]. - There are no violations of decision-making procedures regarding external guarantees [10]. - The company has not faced any issues with more than half of the directors being unable to guarantee the authenticity of the report [10]. - The company has not disclosed any special arrangements regarding corporate governance [10]. - The financial report is signed and sealed by the responsible persons, ensuring its accuracy and completeness [4]. Shareholder and Management Commitments - The company commits not to transfer or manage shares held before the IPO for 36 months from the listing date [96]. - Shareholders must not sell shares at a price lower than the issue price during the two years following the lock-up period [98]. - If the stock price falls below the issue price for 20 consecutive trading days within six months post-IPO, the lock-up period will be extended by at least six months [98]. - Major shareholders are subject to legal responsibilities if they violate the commitments regarding share transfers [97]. - The company will ensure compliance with any new regulatory requirements regarding shareholding during the lock-up period [100]. - The company commits to not transferring or entrusting the management of shares held prior to the IPO for 36 months from the date of listing [120]. - The company will adhere to the latest legal requirements regarding shareholding during the holding period [114]. Market and Strategic Developments - The company is focused on cloud computing and industry information services, providing a full-stack enterprise-level cloud platform and information services to various sectors [30]. - The company has established a comprehensive ecosystem for import substitution in software and hardware, achieving a preliminary autonomous and controllable system with scalable experience in import substitution engineering [34]. - The company has accumulated a significant number of industry clients by expanding its "industry + cloud" development strategy into sectors such as finance, education, and military [35]. - The company signed a strategic cooperation agreement with H3C Technologies to enhance product synergy and expand collaboration in smart city and cloud sectors [68]. - The company established a regional headquarters in Anhui to expand business in East China and is actively exploring cloud computing solutions for "Industrial Internet + Smart Parks" [67]. Financial Management and Investments - The company raised a total of RMB 281,570,000 through its initial public offering, with a net amount of RMB 177,785,802.71 after expenses, representing a 63.14% utilization rate [149]. - The company approved the use of RMB 173,939,500 to replace pre-invested funds in projects and cover part of the issuance costs, with RMB 162,204,800 allocated for project investments and RMB 11,734,700 for issuance costs [151]. - The company has engaged in cash management with a focus on high-security and liquidity products, ensuring the safety of the raised funds [152]. - The company has a total of 88,195,164 restricted shares, which accounted for 78.0% of the total shares before the change, decreasing to 76.8% after the change [159]. - The company has allocated RMB 3,000,000 to a financial product with a projected annualized return of 3.8% [154].