Addsino (SZ:000547)2023-08-30 16:00Fundraising and Investment - The total amount of funds raised in 2019 was approximately RMB 300 million, with a net amount of RMB 280.99 million after deducting underwriting fees[3]. - As of June 30, 2023, the cumulative investment of raised funds reached RMB 85.23 million, with RMB 227.52 million remaining unused[3]. - The total amount of unused raised funds includes RMB 21.48 million in raised funds and RMB 1.28 million in interest after deducting fees[3]. - The project "Cloud Computing and Big Data Autonomous Backup Disaster Recovery System" has a total investment commitment of RMB 405 million, with 40.90% of the investment completed by the end of the reporting period[4]. - The "Information Security Operation Cloud Service Platform" project has not yet received any funding due to significant changes in market conditions and technology solutions[7]. - The project completion date for the "Cloud Computing and Big Data Autonomous Backup Disaster Recovery System" has been extended to December 31, 2025[7]. - The cumulative investment in the "Intermediary Machine" project reached RMB 25.87 million, achieving 100% of the planned investment[4]. Financial Performance - The company's operating revenue for the reporting period was ¥1,152,039,269.52, down 38.21% compared to ¥1,864,489,033.09 in the same period last year[80]. - Total revenue for the reporting period was ¥1,152,039,269.52, a decrease of 38.21% compared to ¥1,864,489,033.09 in the same period last year[83]. - The company reported a net loss of CNY 354,212,230.86 for the first half of 2023, compared to a net profit of CNY 196,750,678.00 in the same period of 2022, indicating a significant decline in profitability[107]. - The total profit for the first half of 2023 was reported at CNY -363,793,460.49, a stark contrast to CNY 206,041,490.73 in the first half of 2022, indicating a significant downturn[107]. - The company’s total comprehensive income for the first half of 2023 was CNY -354,212,230.86, compared to CNY 196,750,678.00 in the previous year, reflecting a significant decline in overall financial health[107]. Share Capital and Structure - The total number of shares decreased from 1,603,685,112 to 1,598,468,269, a reduction of 5,216,843 shares, representing a 0.33% decrease[35]. - The number of limited shares decreased from 25,701,807 to 10,117,573, a reduction of 15,584,234 shares, representing a 60.67% decrease[35]. - The number of unrestricted shares increased from 1,577,983,305 to 1,588,350,696, an increase of 10,367,391 shares, representing a 0.66% increase[35]. - The company released 10,367,391 shares from restrictions on February 15, 2023, and an additional 2,790,210 shares on April 24, 2023[36]. - The company’s total share capital is now 1,598,468,269 shares, fully reflecting the recent changes in shareholding[35]. Market and Business Focus - The company focuses on four main business areas: digital blue army and blue army equipment, new generation communication and command equipment, cybersecurity, and microsystems[26]. - Major products include embedded semi-physical simulation systems, RF (composite) simulation systems, and various military communication devices, with a strong emphasis on customized solutions[26][28]. - The company is actively expanding its market presence in military information systems and dual-use markets, with a focus on technological innovation[28]. - The cybersecurity segment is focused on big data and network security, providing comprehensive solutions for data protection and disaster recovery[29]. - The microsystems division is developing integrated solutions from chips to complex microsystems, supporting advancements in aerospace and IoT[29]. Research and Development - The company is focusing on the development of new products and technologies, particularly in the fields of digital blue army and blue army equipment, although these initiatives are still in the cultivation phase[52]. - The company has made significant investments in R&D for new generation RF simulation systems and integrated simulation systems, aiming to enhance its product offerings[54]. - Research and development expenses increased to CNY 234,183,056.22 in the first half of 2023, up from CNY 203,640,014.89 in the previous year, representing a growth of about 15%[106]. Operational Challenges - The company faced challenges in the first half of the year due to industry fluctuations and project delivery delays, impacting revenue and performance[79]. - The company reported a decline in new contracts and contract turnover due to market cycle fluctuations, resulting in limited support for current performance[52]. - The company is facing challenges in the micro-system market due to increasing competition, impacting order volumes[55]. Cash Flow and Assets - The company's cash and cash equivalents decreased from CNY 1,763,254,249.05 at the beginning of the year to CNY 1,236,866,796.04 by June 30, 2023, a decline of approximately 30%[71]. - The company's inventory increased significantly from CNY 1,946,044,091.05 to CNY 2,308,627,496.01, representing an increase of about 18.6%[71]. - The total assets decreased from ¥14,656,326,632.20 to ¥14,083,020,738.46, a decline of approximately 3.9%[76]. - The total liabilities decreased from ¥4,465,049,106.24 to ¥4,317,117,763.86, a reduction of about 3.3%[77]. Corporate Governance and Social Responsibility - The company has not encountered any issues regarding the use and disclosure of raised funds during the reporting period[157]. - The company actively supports national strategies, including a donation of 500,000 yuan to assist rural revitalization efforts in Qujing City, Yunnan Province[195]. - The company held its 2022 Annual General Meeting on June 16, 2023, with an investor participation rate of 22.86%[188].