FASTEN(SZ:000890)2022-08-19 16:00Financial Performance - The company reported a revenue of ¥371,680,169.16, representing a 66.45% increase compared to the same period last year[19]. - The net profit attributable to shareholders was a loss of ¥27,633,338.41, which is a 68.62% increase in losses year-over-year[19]. - The net cash flow from operating activities improved to ¥11,282,598.87, a 117.74% increase compared to the previous year[19]. - The total operating revenue for the first half of 2022 reached ¥371,680,169.16, a significant increase of 66.5% compared to ¥223,301,338.45 in the same period of 2021[118]. - The operating loss for the first half of 2022 was ¥10,366,050.89, an improvement from a loss of ¥16,403,657.59 in the first half of 2021[119]. - Net loss for the first half of 2022 was ¥15,103,726.66, compared to a net loss of ¥16,388,256.97 in the same period last year, indicating a narrowing of losses[119]. - The company reported a total comprehensive loss of ¥16,839,226.66 for the first half of 2022, compared to a comprehensive loss of ¥16,388,256.97 in the previous year[120]. - The company experienced a significant increase in financial expenses, totaling ¥36,363,195.66, compared to ¥22,387,449.61 in the first half of 2021[119]. Assets and Liabilities - The total assets decreased by 3.64% to ¥1,890,603,332.50 compared to the end of the previous year[19]. - The company's equity attributable to shareholders decreased from CNY 49,304,456.82 to CNY 19,935,618.41, a decline of about 59.6%[112]. - Total liabilities increased from CNY 1,738,663,662.29 to CNY 1,683,994,908.16, a decrease of about 3.1%[112]. - The company's total liabilities decreased to ¥820,898,253.39 from ¥976,899,062.86, a reduction of approximately 16%[116]. - Current assets decreased from CNY 844,640,542.81 on January 1, 2022, to CNY 762,588,628.89 by June 30, 2022, representing a decline of approximately 9.7%[110]. Business Segments - The metal products business generated revenue of ¥14,726.82, a decrease of 34.05% due to asset disposals and operational pressures from COVID-19 and environmental policies[27]. - The environmental business, primarily conducted by the subsidiary Guantaiyuan, focuses on high-difficulty wastewater treatment and was recognized as a "little giant" enterprise by the Ministry of Industry and Information Technology[27]. - Jiangsu Farsen's operating revenue reached 371.68 million yuan, a significant increase of 66.45% compared to 223.30 million yuan in the previous year, primarily due to the expansion of the environmental protection business[32]. - The gross profit margin for the environmental protection business was 26.82%, indicating strong profitability in this segment[36]. Research and Development - Research and development investment for Jiangsu Farsen was 7.29 million yuan, marking a 100% increase compared to the previous period[32]. - Guangtaiyuan has established partnerships with several national research institutions and universities to enhance its R&D capabilities[29]. - The company is actively exploring new business areas such as landfill remediation and sludge treatment, leveraging its research collaboration with universities[28]. Cash Flow and Financing - The net cash flow from operating activities for the first half of 2022 was ¥11,282,598.87, a significant improvement compared to a net outflow of ¥63,617,442.87 in the same period of 2021[124]. - Cash inflow from financing activities was ¥700,528,612.05, compared to ¥645,987,600.00 in the same period of 2021, indicating a growth of about 8.4%[125]. - The company reported a net cash outflow from investing activities of ¥14,702,026.52, an improvement from a net outflow of ¥227,725,340.54 in the first half of 2021[125]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 22,954[96]. - The largest shareholder, Farsen Hongsheng Group, holds 28.82% of shares, totaling 120,892,486 shares[96]. - The company completed the issuance of 39,862,368 new shares to its controlling shareholder, which were released from restrictions on June 20, 2022[93]. Environmental Management - The company has a wastewater treatment station that processes production wastewater to meet standards before discharging it to a centralized treatment facility, with a total discharge volume of 35,010 tons per year[57]. - The company has implemented a pollution prevention facility for acidic waste gas, which is treated to meet standards before being released, and has purchased large dust suppression vehicles for full coverage of the factory area[57]. - The company received its pollution discharge permit in 2020, with the permit number 91320281746247819J001X[58]. - The company has a blue environmental credit rating and has taken measures to reduce carbon emissions[58]. Risks and Challenges - The company faces market competition risks due to numerous small enterprises in the metal products industry, impacting pricing and profit margins[47]. - The company is exposed to raw material price fluctuation risks, which could affect operational results[47]. - Environmental risks are present due to the production processes involving hazardous waste, necessitating enhanced environmental management[48]. - The company has a significant goodwill risk following the acquisition of Dalian Guangtaiyuan Environmental Technology Co., which requires annual impairment testing[48]. Related Party Transactions - Jiangsu Far East Group reported a total of 2,295.4 million yuan in related party transactions, accounting for 89.37% of the approved transaction amount of 1,200 million yuan[71]. - The company engaged in related party transactions for raw materials with a transaction amount of 122.2 million yuan, representing 4.76% of similar transactions[71]. - The company has established fair pricing principles based on market prices for all related party transactions[71]. Corporate Governance - There were no changes in the board of directors or senior management during the reporting period[52]. - The company has not implemented any employee stock ownership or incentive plans during the reporting period[54]. - The semi-annual financial report has not been audited[65].