北斗星通(002151) - 2023 Q2 - 季度财报

Financial Position - Total liabilities amounted to ¥2,784,370,272.21, a slight decrease from ¥2,794,668,843.79 in the previous period[3] - Current liabilities totaled ¥2,190,905,051.62, compared to ¥2,222,115,388.54 previously, indicating a decrease of approximately 1.3%[3] - Non-current liabilities increased to ¥593,465,220.59 from ¥572,553,455.25, reflecting an increase of about 3.2%[3] - Total equity reached ¥5,605,744,480.52, up from ¥4,813,885,207.11, representing a growth of approximately 16.4%[3] - The total assets of the company amounted to ¥8,390,114,752.73, up from ¥7,608,554,050.90, indicating an increase of approximately 10.2%[3] Cash and Cash Equivalents - Cash and cash equivalents rose to ¥954,810,311.28, a substantial increase from ¥215,858,197.64, indicating a growth of approximately 341.5%[3] - The company reported a total cash balance of CNY 1,979,255,176.25 at the end of the period, compared to CNY 1,239,135,552.50 at the beginning of the period, indicating a significant increase of approximately 60%[153] - The bank deposits increased from CNY 998,238,740.76 to CNY 1,709,306,341.11, reflecting a growth of about 71%[153] - The company’s cash and cash equivalents include CNY 479,186,271.03 held overseas, showing a slight decrease from the previous period[153] - The company reported a significant increase in cash and cash equivalents, reflecting improved liquidity management strategies[183] Profit and Loss - The company reported a net profit of ¥169,547,687.52, compared to ¥128,976,589.24 in the previous period, reflecting an increase of about 31.5%[3] Accounting Policies and Estimates - The company has no changes in accounting policies or estimates during the reporting period[10] - The company applies expected credit loss accounting for financial assets measured at amortized cost, recognizing loss provisions based on the weighted average of credit losses due to default risk[19] - The company recognizes credit loss provisions in the income statement as impairment losses or gains, reducing the carrying amount of financial assets[20] Credit Risk Management - Expected credit loss is defined as the present value of the difference between all contractual cash flows expected to be received and the cash flows expected to be collected[19] - For receivables and contract assets governed by revenue standards, the company uses a simplified measurement method to measure loss provisions equivalent to the expected credit losses over the entire duration[19] - The company assesses whether the credit risk of financial instruments has significantly increased since initial recognition and measures loss provisions accordingly[21] - The company classifies receivables into several groups based on credit risk characteristics to calculate expected credit losses when sufficient evidence cannot be obtained at the individual instrument level[27] - Expected credit losses for receivables are assessed individually when sufficient evidence is available; otherwise, they are grouped based on historical loss experience and current conditions[47] - The company applies an aging analysis method to calculate expected credit losses, referencing historical loss experience and future economic forecasts[49] Inventory Management - The company applies a perpetual inventory system for inventory management[28] - Inventory write-downs can be reversed when the factors leading to the write-down have disappeared, impacting current profits[50] Contract Assets and Liabilities - The company recognizes contract assets when it has the right to receive consideration from customers, which is dependent on factors other than the passage of time[52] - The company recognizes contract liabilities for obligations to transfer goods to customers for received or receivable consideration[72] Intangible Assets - The company evaluates the initial measurement of intangible assets upon acquisition, categorizing them as having either a finite or indefinite useful life[67] - The company assesses the useful life and amortization method of finite-lived intangible assets at each reporting period, making adjustments if there are discrepancies with original estimates[68] - Internal research and development expenditures during the research phase are recognized as expenses in the current period[69] - The company capitalizes development expenditures as intangible assets when specific criteria are met during the development phase[119] - Goodwill impairment testing involves comparing the carrying amount of the asset group, including allocated goodwill, with its recoverable amount[120] Taxation - The company has a tax rate of 15% for most subsidiaries, with one subsidiary, RX Networks Inc., having a higher tax rate of 26%[149] - The company has a tax rate of 25%, with reduced rates of 15% and 10% applicable under certain conditions for corporate income tax[169] - The company has implemented a policy for tax deductions on R&D expenses, enhancing its financial position[151] - The company holds a high-tech enterprise certificate valid for three years, allowing it to enjoy a reduced corporate income tax rate of 15% for the years 2020 to 2022[170] - The company is eligible for a 100% tax deduction on R&D expenses incurred from January 1, 2023, which do not form intangible assets, and a 200% deduction for those that do[172] Government Subsidies - The company has received government subsidies related to its daily operations, which are recorded as other income or offset against related costs[138] - The company has received government subsidies recognized as monetary assets, measured at the amount receivable, and non-monetary assets measured at fair value or nominal value of ¥1 if fair value cannot be reliably obtained[159] - The company utilizes the total amount method for accounting treatment of government subsidies, consistently applying this method for similar subsidies[159] Financial Instruments - The company classifies financial assets into three categories: measured at amortized cost, measured at fair value with changes recognized in other comprehensive income, and measured at fair value with changes recognized in profit or loss[189] - The company’s financial instruments are recognized upon entering into a contract, with interest income calculated using the effective interest method[188] Other Financial Information - The company confirmed deferred tax assets amounting to ¥4,254,916.02 and deferred tax liabilities of ¥4,041,730.57, resulting in a deferred tax expense of ¥213,185.45 for the period[167] - The company confirmed that impairment losses on assets will adjust depreciation or amortization expenses in future periods to allocate the adjusted book value systematically over the remaining useful life of the asset[96] - Long-term prepaid expenses are amortized over a period exceeding one year using the straight-line method[97] - Short-term employee compensation is recognized as a liability and included in related asset costs and expenses based on the benefits received from employee services[98] - The company confirmed its share of assets and liabilities in joint operations according to relevant accounting standards, recognizing income from the sale of its share of joint operation outputs[181] - The company reported a provision for expected credit losses on receivables, with a beginning balance of ¥3,702,133.76, a recovery of ¥1,174,768.95, and an ending balance of ¥2,527,364.81[179] - The company has completed debt restructuring with Zhejiang Zhongtai Automobile Manufacturing Co., resulting in the recognition of trading financial assets[176] - The company reported a total of 269,774,707.11 CNY in restricted funds at the end of the period, compared to 240,608,864.41 CNY at the beginning of the period, indicating an increase of approximately 12.14%[193] - The company’s accounts receivable include a total of 28,295,000 CNY in commercial acceptance notes, representing 100% of the total[196] - The company’s consolidated financial statements include all subsidiaries under its control, ensuring comprehensive reporting of financial performance[198] - Foreign currency transactions are recorded at the spot exchange rate on the transaction date, with monetary items converted at the exchange rate on the balance sheet date, affecting current profit or loss[184] - The company’s foreign currency translation adjustments are recorded in other comprehensive income, impacting overall equity[185]