WISCOM(SZ:002090)2020-08-24 16:00Financial Performance - The company's operating revenue for the first half of 2020 was CNY 654,181,948.80, a decrease of 22.57% compared to the same period last year[19]. - The net profit attributable to shareholders was CNY 19,219,941.52, down 79.61% year-on-year[19]. - The net profit after deducting non-recurring gains and losses was CNY 10,675,858.94, a decline of 62.03% compared to the previous year[19]. - The basic earnings per share were CNY 0.0475, down 79.63% year-on-year[19]. - The company's operating revenue for the reporting period was ¥654,181,948.80, a decrease of 22.57% compared to ¥844,878,799.23 in the same period last year[45]. - The net profit for the first half of 2020 was CNY 26.84 million, a decline of 70.0% from CNY 89.30 million in the first half of 2019[166]. - The company's total assets decreased to CNY 2.06 billion as of June 30, 2020, from CNY 2.18 billion at the end of 2019, representing a decline of 5.4%[164]. - The company's total equity increased from CNY 1,353,000,284.61 to CNY 1,357,377,213.28, showing a growth of approximately 0.3%[159]. Cash Flow and Investments - The net cash flow from operating activities was negative CNY 1,571,115.14, a decrease of 107.86% compared to the same period last year[19]. - The company reported a net cash flow from investing activities of -¥240,993,601.62, a decrease of 213.18% from ¥212,922,097.26, mainly due to significant investments in new projects[46]. - The total cash outflow from investing activities was CNY 245,570,321.48 in the first half of 2020, compared to CNY 39,062,742.91 in the same period of 2019, indicating a significant increase in investment outflows[176]. - The company reported a total cash inflow from financing activities of CNY 475,943,000.00 in the first half of 2020, compared to CNY 422,000,000.00 in the same period of 2019, showing an increase of about 12.8%[176]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,679,316,299.69, a slight decrease of 0.35% from the end of the previous year[19]. - The company's short-term borrowings decreased from CNY 713,850,000.00 to CNY 586,350,000.00, a reduction of about 17.9%[158]. - The accounts receivable decreased from CNY 887,581,568.17 to CNY 825,026,801.11, a reduction of approximately 7.1%[156][157]. - The company's cash and cash equivalents decreased significantly from CNY 586,460,517.44 to CNY 376,956,341.81, a reduction of about 35.7%[156][157]. Business Operations and Strategy - The company plans to not distribute cash dividends or issue bonus shares[7]. - The company is actively exploring new business models to meet comprehensive energy service demands[27]. - The company achieved operating revenue of 654.18 million yuan, a year-on-year decrease of 22.57%[35]. - The company is investing in the Xinjiang Changji Mulei Laojunmiao Wind Farm Phase II project (250MW), expected to be completed by the end of 2020[39]. - The company has completed the strategic layout of the entire industrial chain in the power automation business[27]. Research and Development - Research and development investment was ¥55,174,588.48, down 30.95% from ¥79,903,993.01, primarily due to reduced R&D activities caused by the pandemic[45]. - The company developed new products, including a factory-level automatic generation control software and an energy internet cloud platform, enhancing its market offerings[36]. - The company received multiple awards for its research projects, reflecting its strong R&D capabilities and market competitiveness[39]. Market Position and Competition - In the smart power generation sector, the company maintained a high market share by winning multiple contracts from major power groups, including Huadian and Datang[36]. - The company continues to be a key supplier for the State Grid, maintaining its position in the competitive landscape of power automation solutions[37]. - The smart energy segment's revenue decreased by 36.54% to ¥240,988,619.85, while the smart city segment's revenue decreased by 11.31% to ¥411,507,517.52[48]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[85]. - The total number of common shareholders at the end of the reporting period was 26,575[139]. - Jiangsu Jinzhi Group Co., Ltd. holds 36.72% of the shares, totaling 148,450,460 shares, with 92,231,049 shares pledged[139]. - The company has no preferred shares or convertible bonds outstanding during the reporting period[145][147]. Risks and Challenges - The ongoing COVID-19 pandemic is expected to affect business operations and revenue recognition, leading to a potential decline in income compared to the previous year[78]. - The company is facing risks related to technological innovation, market competition, and talent retention, which could impact its core competitiveness[73][74][75]. - The company is actively monitoring macroeconomic conditions and industry policies, particularly regarding renewable energy subsidies and their impact on project profitability[80][81].