FJR(SH:688272)2022-09-21 16:00Financial Performance - The company's net profit for the first half of 2022 was -43.24 million CNY, with a net profit attributable to shareholders of -47.41 million CNY after deducting non-recurring gains and losses[4]. - Revenue for the first half of 2022 was 27.85 million CNY, indicating a downward trend in performance compared to previous periods[4]. - The gross profit margin decreased from 46.79% in the first half of 2021 to 33.75% in the first half of 2022, reflecting increased competition and lower bidding prices for military products[7]. - The company's operating revenue for the first half of 2022 was ¥27,845,427.09, a decrease of 81.95% compared to ¥154,231,816.80 in the same period last year[23]. - The net profit attributable to shareholders for the first half of 2022 was -¥43,244,717.68, a decline of 239.03% from a profit of ¥31,103,568.15 in the previous year[23]. - The net cash flow from operating activities was -¥54,638,214.87, a significant decrease of 874.38% compared to ¥7,055,698.19 in the same period last year[23]. - The company's total assets decreased by 3.61% to ¥766,566,384.98 from ¥795,255,000.45 at the end of the previous year[23]. - The net assets attributable to shareholders decreased by 7.50% to ¥627,719,381.94 from ¥678,640,099.62 at the end of the previous year[23]. - The basic earnings per share for the first half of 2022 was -¥0.57, a decrease of 204.28% compared to ¥0.55 in the same period last year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥47,405,211.45, a decline of 253.04% from ¥30,974,731.12 in the previous year[23]. - The company's gross profit margin for the main business decreased from 46.79% in the first half of 2021 to 33.75% in the first half of 2022[124]. - The company reported a significant decline in revenue from non-refrigerated core products due to project delays and customer procurement issues[125]. Market and Order Backlog - As of August 2022, the company had an order backlog of 26.16 million CNY and an additional 123.44 million CNY in contracts that had been won but not yet signed[4]. - The company has ongoing projects that have been partially delivered but have not yet recognized revenue due to pending acceptance confirmations[117]. - The total amount of projects that have been awarded but not yet signed contracts reached ¥123,437,458.00 as of August 2022, with a low risk of contract signing issues[120]. - The company has multiple contracts in various stages of negotiation, indicating a robust pipeline for future revenue generation[119]. Risks and Challenges - The company faces risks related to customer attrition due to fluctuations in military orders and the impact of COVID-19 on business operations[5]. - If the company continues to incur losses and revenue falls below 100 million CNY, it may face delisting risk under the Shanghai Stock Exchange regulations[6]. - The company anticipates a downward trend in overall performance for 2022 due to rising expenses and declining gross margins from military product contracts[106]. - The company is facing risks related to talent shortages and potential loss of key clients, which could impact future operational performance[112]. - The company has identified risks related to order delays and potential customer loss if the pandemic situation worsens[112]. - The company is subject to risks from U.S. trade sanctions, which could affect the supply of critical components[127]. Research and Development - The R&D expenditure accounted for 102.20% of operating revenue, an increase of 89.93 percentage points from 12.27% in the previous year[24]. - The company's R&D investment totaled ¥28,459,087.58, representing a 50.44% increase compared to ¥18,917,274.81 in the same period last year[67]. - The company has developed several core technologies in the infrared thermal imaging field, achieving advanced or near-international levels in key product indicators such as handheld thermal imagers and gas detection thermal imagers[35]. - The company has established a complete R&D system from core component design to comprehensive optoelectronic system development, continuously enhancing its core competitiveness in infrared thermal imaging technology[58]. - The company holds a total of 65 valid patents, including 17 invention patents and 31 utility model patents, with 7 new domestic patent applications during the reporting period[64]. Product Development and Innovation - The company is actively expanding its business and participating in various bidding projects, particularly in the civilian sector[5]. - The company is focused on expanding its market presence through continuous innovation in product development and strategic partnerships in both military and civilian sectors[59]. - The company is developing a high-performance non-cooling infrared core, which is currently in the prototype stage, with a focus on compact design and high image quality[79]. - The company has launched a new handheld temperature measurement device with a production capacity of 210,000.00, which is positioned as a leading product in the domestic market[81]. - The company is working on a compact non-cooling infrared core that is lightweight and cost-effective, currently in the scheme phase[79]. Environmental and Compliance - The company actively implements environmental protection measures, including the use of energy-efficient equipment to reduce carbon emissions[149]. - Wastewater generated is treated and complies with Beijing's water pollution discharge standards[150]. - Solid waste is categorized and managed according to local regulations, ensuring compliance with environmental laws[150]. - The company has established a comprehensive environmental management system to ensure continuous improvement in environmental performance[149]. Management and Governance - The company has appointed new management personnel to ensure compliance and operational efficiency following recent changes in the board[145]. - The company appointed six new vice presidents on May 11, 2022, to enhance its management team[146]. - The company has a stable core management team, with most members having served since its inception, providing a solid foundation for sustainable development[96]. - The controlling shareholder and actual controller Huang Fuyuan has pledged not to interfere in the company's management activities or infringe on company interests[167].