*ST炼石(000697) - 2020 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2020 was ¥631,700,077.91, a decrease of 38.56% compared to ¥1,028,115,701.06 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was a loss of ¥121,652,771.37, worsening by 160.10% from a loss of ¥46,771,755.96 in the previous year[17]. - The basic earnings per share were reported at -¥0.1811, a decline of 160.20% from -¥0.0696 in the previous year[17]. - The company's revenue for the current period is ¥631,700,077.91, a decrease of 38.56% compared to ¥1,028,115,701.06 in the same period last year, primarily due to reduced orders impacted by the pandemic[36]. - The company reported a net loss of CNY 1,336,743,915.62 in retained earnings, worsening from a loss of CNY 1,215,091,144.25[116]. - The net loss for the first half of 2020 was CNY 122.09 million, compared to a net loss of CNY 47.91 million in the first half of 2019, representing an increase in loss of 154.5%[123]. Cash Flow and Liquidity - The net cash flow from operating activities improved significantly to ¥75,340,774.23, compared to a negative cash flow of ¥121,477,419.25 in the same period last year, marking a 162.02% increase[17]. - The company reported a net increase in cash and cash equivalents of ¥88,108,380.10, a 147.74% improvement compared to -¥184,559,809.83 in the previous year[36]. - The company's cash and cash equivalents increased by 111.76% compared to the beginning of the year, primarily due to loans received from Sichuan Development[27]. - The ending cash and cash equivalents balance increased to ¥163,001,302.65 in 2020 from ¥132,252,284.31 in 2019[130]. - The company received tax refunds amounting to ¥46,045,909.10 in the first half of 2020, up from ¥29,689,327.65 in the same period of 2019, representing a growth of approximately 55.1%[129]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,627,792,710.37, a slight decrease of 0.23% from ¥3,636,116,696.24 at the end of the previous year[17]. - The company's total liabilities rose to CNY 2,257,605,288.09, an increase of 6.5% compared to CNY 2,120,767,327.94[115]. - The company's total equity decreased to CNY 1,370,187,422.28 from CNY 1,515,349,368.30, a decline of 9.5%[116]. - The company's total assets were CNY 3,627,792,710.37, slightly down from CNY 3,636,116,696.24, indicating a decrease of 0.2%[116]. Operational Highlights - Gardner Aerospace's revenue decreased by 36.13% year-on-year due to reduced aircraft production plans from major clients[32]. - The company successfully delivered multiple batches of single crystal blades for a specific engine model, marking a milestone in its manufacturing capabilities[33]. - The company’s subsidiary, Shaanxi Lianshi Mining Co., has halted production due to regulatory changes, with ongoing discussions with government departments for future resolutions[26]. - The company is actively preparing for production certification with Airbus, pending stabilization of pandemic-related restrictions[33]. Research and Development - Research and development expenses fell by 67.74% to ¥5,937,545.46 from ¥18,406,121.37, mainly due to amortization related to blade mass production[36]. - The company has initiated research and development for new products aimed at enhancing operational efficiency and customer satisfaction[137]. Risk Management - The company has outlined risks and corresponding countermeasures in the report, emphasizing the importance of risk management[4]. - The company faces risks related to international political environment changes that could affect its business operations[54]. - The company has a significant reliance on a single customer, Airbus, which poses a risk to revenue stability[56]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The total number of ordinary shareholders at the end of the reporting period is 32,740[94]. - Zhang Zheng holds 18.81% of the shares, totaling 126,303,102 shares, with 31,575,776 shares pledged[94]. Financial Reporting and Compliance - The financial report for the first half of the year was not audited[111]. - The company did not engage in any entrusted financial management during the reporting period[84]. - There were no instances of non-compliance with external guarantees during the reporting period[83]. Future Outlook - The company plans to focus on expanding its market presence and developing new technologies in the upcoming quarters[136]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[138].