ST星源(000005) - 2020 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2020 was ¥133,235,863.47, a decrease of 68.59% compared to ¥424,134,990.98 in the same period last year[15]. - The net profit attributable to shareholders was a loss of ¥32,131,567.76, representing a decline of 151.63% from a profit of ¥62,234,817.52 in the previous year[15]. - The net cash flow from operating activities decreased by 59.94%, amounting to ¥40,449,835.83 compared to ¥100,963,584.08 in the prior year[15]. - The total assets at the end of the reporting period were ¥2,968,127,157.42, down 2.10% from ¥3,031,840,976.34 at the end of the previous year[15]. - The net assets attributable to shareholders decreased by 1.95%, totaling ¥1,618,179,405.23 compared to ¥1,650,310,972.99 at the end of the last year[15]. - The company reported a gross margin of -49.41% for hotel operations and property management, down 54.39% year-on-year[40]. - The company reported a net loss of CNY 176,142,872.37 for the period, compared to a loss of CNY 144,011,304.61 in the previous period[109]. - The company reported a comprehensive income total of RMB 78,046,911 for the current period[139]. - The comprehensive income for the first half of 2020 showed a total loss of CNY 20.34 million, compared to a profit in the same period last year, indicating a significant downturn in performance[134]. Revenue Breakdown - Environmental business revenue accounted for 89.24% of total revenue at ¥118,899,980.76, down 43.68% from ¥211,108,340.98 year-on-year[37]. - Hotel operation and property management revenue was ¥12,263,004.70, representing 9.20% of total revenue, a decline of 46.55% from ¥22,941,736.97 in the previous year[37]. - Revenue from Shenzhen dropped significantly by 93.27% to ¥14,335,882.71, compared to ¥213,026,650.00 in the same period last year[37]. - Total revenue for the reporting period was ¥133,235,863.47, a decrease of 68.59% compared to ¥424,134,990.98 in the same period last year[37]. Cash Flow and Liquidity - The company's cash and cash equivalents at the end of the reporting period were ¥64,077,880.73, a slight increase from ¥59,994,161.28 year-on-year[42]. - Cash and cash equivalents decreased significantly from CNY 112,250,014.96 to CNY 64,077,880.73, a drop of approximately 42.8%[106]. - Total cash inflow from operating activities was CNY 308,035,746.96, down 28.14% from CNY 428,822,790.09 in the first half of 2019[124]. - Cash flow from investing activities showed a net outflow of CNY 20,529,787.76, compared to a net inflow of CNY 116,646,533.96 in the first half of 2019[125]. - Cash flow from financing activities resulted in a net outflow of CNY 51,397,544.72, an improvement from a net outflow of CNY 240,401,337.90 in the same period last year[125]. Investments and Expenditures - Research and development investment increased by 16.76% to ¥12,145,218.50, indicating a continued focus on innovation despite the challenging environment[36]. - The company has ongoing projects in construction, with capital expenditures increasing from CNY 40,874,495.92 to CNY 54,196,382.77, an increase of approximately 32.5%[107]. - The company is focusing on the development of a core module for an integrated platform system for organic solid waste resource utilization[29]. Shareholder Information - The largest shareholder, China Investment Co., held 184,240,445 shares, representing 17.41% of the total shares[90]. - The second-largest shareholder, Shenzhen Borui Yican Technology Co., held 47,945,310 shares, accounting for 4.53% of the total shares[90]. - The company held its annual general meeting on June 30, 2020, with an investor participation rate of 22.13%[54]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[55]. Operational Challenges - The company's operating revenue for the reporting period was ¥133,235,863.47, a decrease of 68.59% compared to the same period last year due to the impact of the pandemic on hotel operations, property management, and environmental services[35]. - The total amount of environmental engineering service contracts decreased in the first half of the year due to the pandemic[30]. - The company is actively maintaining large industrial park projects in Indonesia, which have been affected by the extended pandemic[33]. Accounting and Compliance - The financial report for the first half of 2020 was not audited[104]. - The financial statements were approved by the board of directors on August 26, 2020, ensuring compliance with the relevant accounting standards[145]. - The group’s accounting year follows the calendar year, from January 1 to December 31[151]. - The group recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a business combination[157]. Equity and Capital Structure - The total equity attributable to the parent company at the end of the first half of 2020 was CNY 1,579.3 million, a decrease from CNY 1,646.2 million at the end of 2019, representing a decline of approximately 4.06%[132]. - The total owner's equity at the end of the current period is RMB 1,317,801,942, reflecting a decrease in retained earnings of RMB 517,395,642[139]. - The company has undergone significant capital changes, including a major asset restructuring in 2015, which increased the share capital to RMB 1,058,536,842[143]. Risk Management and Impairment - The company reported an asset impairment loss of CNY 4,847,652.45, compared to CNY 1,740,300.77 in the previous year[116]. - The company recognizes impairment losses for financial assets measured at amortized cost and those measured at fair value with changes recognized in other comprehensive income[180]. Future Outlook - The company plans to enhance its competitive advantage in environmental engineering through mergers or collaborations to acquire advanced carbon material technologies[51]. - The company plans to enhance its market presence but did not provide specific guidance or targets for future growth in this report[134].