SDHH(SZ:000822)2023-08-22 16:00Financial Performance - The company reported a total comprehensive loss of CNY 12,448,020.28 due to changes in the fair value of investments[173]. - Sales expenses increased to CNY 49,932,746.57 from CNY 29,717,558.74 in the previous period, reflecting a significant rise[187]. - Management expenses rose to CNY 188,117,122.90, compared to CNY 111,431,238.10 in the previous period, indicating a substantial increase[187]. - Research and development expenses increased significantly to CNY 17,146,720.39 from CNY 4,864,807.50 in the previous period, highlighting a focus on innovation[187]. - The company incurred a total tax and additional charges of CNY 50,645,147.31, down from CNY 82,239,397.57 in the previous period, showing a reduction in tax burden[187]. - Cash received from operating activities was ¥29,249,342.70, down from ¥62,409,404.10 in the previous period, reflecting a decline in operational cash flow[196]. - The total financial expenses for the current period were -¥8,126,520.70, compared to -¥4,293,691.19 in the previous period, indicating an increase in net financial costs[188]. Assets and Liabilities - The total balance of receivables as of the end of the reporting period is 411,530,382.64, with a bad debt provision of 39,657,294.85, representing a provision rate of 9.64%[6]. - The company has a significant amount of long-term receivables, with a total of 9,491,512.80 due within five years or more[5]. - The company has fully provided for bad debts amounting to 5,189,929.74 for Dezhou Jingfeng Daily Glass Co., Ltd. due to severe financial difficulties and ongoing litigation[6]. - The total balance of construction in progress at the end of the period is ¥178,888,167.07, an increase from the beginning balance of ¥150,433,115.59, representing a growth of approximately 18.9%[146]. - The total balance of fixed assets at the end of the period is ¥109,380,162.78, with accumulated depreciation of ¥11,039,595.98[147]. - The total amount of expected liabilities for mine geological environment restoration was ¥7,261,426.13, unchanged from the previous period[168]. - The total tax payable at the end of the period was ¥53,813,323.28, an increase from ¥39,404,218.36 at the beginning of the period, indicating a rise of approximately 36.7%[160]. Investments and Equity - The company made an additional investment of ¥51,610,942.00 in Shandong Haohua Liwei New Materials Co., Ltd., resulting in a total book value of ¥51,631,280.43 at the end of the period[136]. - The equity method recognized an investment income of ¥931,195.92 for the period, with a total book value of ¥106,204,174.01 at the end of the period[136]. - The company has no treasury stock or other equity instruments reported[171][172]. - The company has not reported any goodwill in its financial statements[151]. Revenue Recognition - The company recognizes revenue when it fulfills its performance obligations in the contract, which occurs when the customer obtains control of the related goods or services[65]. - The company recognizes revenue based on the progress of performance obligations, and if progress cannot be reliably determined, revenue is recognized based on costs incurred that are expected to be recoverable[72]. Inventory and Impairment - The company has established a method for determining the net realizable value of inventory and recognizes inventory impairment when costs exceed net realizable values[15]. - The total inventory at the end of the period was ¥466,215,934.76, with a provision for inventory depreciation of ¥7,486,388.13[130]. - The company’s inventory write-downs for the period included an increase of ¥7,433,141.84 for finished goods[130]. - The provision for bad debts increased by ¥228,159.72 during the period, bringing the total to ¥17,306,206.46[125]. Cash Flow and Financial Position - The company’s cash and cash equivalents at the end of the period totaled CNY 1,349,541,991.23, compared to CNY 1,291,466,596.96 at the beginning of the period, reflecting an increase of approximately 4.5%[114]. - The trading financial assets measured at fair value and recognized in the current profit and loss amounted to CNY 61,278,246.56, up from CNY 60,326,136.98 at the beginning of the period, indicating a growth of about 1.6%[115]. - The total amount of unrecognized deferred tax assets was ¥176,074,766.08, compared to ¥176,859,487.21 at the beginning of the period, showing a minor decrease[164]. Compliance and Regulations - The company must comply with the disclosure requirements related to the chemical industry as per the Shenzhen Stock Exchange guidelines[40]. - The company plans to implement a new accounting standard starting January 1, 2023, which will affect the financial statements related to deferred tax assets and liabilities[106]. Employee Benefits - The company has established an enterprise annuity plan for employees, which is a voluntary retirement benefit plan[60]. - The company recorded a total of ¥74,988,468.14 in long-term employee compensation payables, up from ¥60,427,150.10, marking an increase of about 24%[168].