NSU(SZ:002089)2019-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2019 was ¥269,231,247.17, representing a 40.95% increase compared to ¥191,011,608.22 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was -¥121,497,914.48, a decrease of 1,012.81% from ¥13,310,353.74 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥121,972,144.26, which is a 33.56% increase in loss compared to -¥91,326,677.06 last year[18]. - The basic earnings per share were -¥0.0884, a decline of 1,011.34% from ¥0.0097 in the previous year[18]. - The company achieved operating revenue of RMB 269.23 million in the reporting period, an increase of RMB 78.00 million or 40.95% compared to the same period last year[46]. - The company reported a significant decline in software development revenue, which fell by 68.41% to RMB 1,132,748.33 from RMB 3,585,558.17 in the previous year[53]. - The net loss for the first half of 2019 was CNY 125,065,371.05, compared to a net loss of CNY 6,522,330.34 in the same period of 2018, reflecting a significant decline in profitability[154]. - The total comprehensive income for the current period decreased by CNY 44,899,440.50[177]. Cash Flow and Investments - The net cash flow from operating activities was ¥78,942,702.29, up 28.97% from ¥61,208,479.40 in the same period last year[18]. - The net cash flow from investment activities surged to ¥136,553,731.21, a significant increase of 5,255.61% from a negative ¥2,648,644.31 in the previous year[52]. - The cash flow from investing activities generated a net inflow of ¥136,553,731.21 in the first half of 2019, compared to a net outflow of ¥2,648,644.31 in the same period of 2018[162]. - The cash inflow from financing activities reached CNY 669,372,029.16, up from CNY 204,871,842.58 in the first half of 2018, marking an increase of approximately 226.5%[166]. - The company reported a significant reduction in cash outflow for investment activities, which decreased to CNY 11,760,140.20 from CNY 56,350,616.09 in the first half of 2018[166]. Assets and Liabilities - The total assets at the end of the reporting period were ¥4,766,414,430.85, a decrease of 1.93% from ¥4,860,375,480.44 at the end of the previous year[18]. - The total liabilities stood at CNY 3,431,557,861.38, compared to CNY 3,398,543,420.27 at the end of 2018, indicating a slight increase in financial obligations[146]. - The company's total liabilities increased to CNY 1,981,192,966.27 in the first half of 2019 from CNY 1,872,913,056.74 in the previous year, marking an increase of approximately 5.8%[151]. - The total equity attributable to shareholders decreased to CNY 1,188,285,946.51 from CNY 1,309,783,860.99, indicating a decline of approximately 9.2%[146]. - The company's total liabilities to equity ratio increased to 2.57 from 2.32, indicating a higher leverage position[146]. Business Operations and Strategy - The company’s main business includes research, production, and sales of communication products, software and services, and LED products, with a strategic focus on "new energy" and "big communication" sectors[26]. - The company plans to leverage opportunities in the 5G era by refocusing on its core communication business and consolidating investments in the new energy sector[26]. - The company is strategically positioned in the new energy electric logistics vehicle sector, controlling the entire supply chain from vehicle manufacturing to lithium resource acquisition[75]. - The company has identified risks in the LED industry due to potential overcapacity and increasing competition, necessitating a focus on technological advancements and cost management[70]. - The company plans to enhance its competitive edge in the LED chip market by forming strategic partnerships and developing products tailored to niche markets[71]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[5]. - All directors attended the board meeting to review this report, ensuring the accuracy and completeness of the financial statements[4]. - The company’s board of directors underwent changes with several members leaving and new members being elected on May 21, 2019[137]. - The company has commitments related to performance compensation arrangements, with a net profit target of no less than 393 million CNY for the 2016-2018 period[83]. - The company is committed to enhancing internal controls and management practices to protect shareholder interests[90]. Research and Development - Research and development expenses decreased by 12.64% to RMB 16,195,059.56 from RMB 18,538,219.48 in the previous year[52]. - The company has made significant investments in research and development for new technologies related to electric vehicle charging and energy management systems[185]. - The company has over 80 invention and utility model patents, ensuring the advancement and effectiveness of its technology[40]. Legal and Compliance - The company faced a lawsuit for CNY 233.17 million against Hunan Taida for failure to pay performance compensation, which has been withdrawn[92]. - The company has not undergone any bankruptcy reorganization during the reporting period[91]. - The company has not faced any penalties or rectification issues during the reporting period[94]. - The semi-annual financial report for the company has not been audited[86]. Market Conditions - The company faced a 12.4% decline in overall automotive sales in China during the first half of 2019, with a notable 48.5% increase in new energy vehicle sales[72]. - New energy vehicle sales reached 61.7 million units, growing by 49.6% year-on-year, driven largely by government subsidies[72]. - The traditional software outsourcing market is facing increased competition and saturation, leading to a decline in gross margins due to rising costs[77].