Yabo(SZ:002323)2020-12-11 16:00Financial Performance - The company's operating revenue for the first half of 2018 was ¥164,890,034.16, a decrease of 73.58% compared to ¥624,026,463.44 in the same period last year[20]. - The net profit attributable to shareholders was a loss of ¥26,139,839.52, representing a decline of 122.43% from a profit of ¥116,527,378.76 in the previous year[20]. - The basic earnings per share were -¥0.0351, a decline of 122.46% compared to ¥0.1563 in the same period last year[20]. - The company reported a net loss of ¥44,507,986.54, compared to a loss of ¥12,796,267.92 in the previous period[115]. - The total comprehensive income for the first half of 2018 was a loss of CNY 25,969,554.27, compared to a comprehensive income of CNY 116,633,375.05 in the previous year[119]. - The company achieved a total profit of CNY -26,174,148.81 for the first half of 2018, compared to CNY 140,099,231.24 in the same period last year[118]. Cash Flow and Liquidity - The net cash flow from operating activities improved to ¥54,449,765.84, a significant increase of 117.09% compared to a negative cash flow of ¥318,624,138.40 in the same period last year[20]. - The cash and cash equivalents at the end of the period amounted to 5,126,169.45 CNY, down from 41,694,333.81 CNY in the previous period[126]. - The company reported a net cash outflow from financing activities of -73,761,505.48 CNY, contrasting with a net inflow of 253,425,870.93 CNY in the prior period[126]. - The total cash inflow from operating activities was 721,439,181.13 CNY, while cash outflow was 666,989,415.29 CNY, leading to a net cash flow of 54,449,765.84 CNY[125]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,446,694,508.89, down 7.89% from ¥2,656,390,159.09 at the end of the previous year[20]. - Total liabilities decreased from ¥1,800,616,844.57 to ¥1,642,991,286.60, a reduction of about 8.8%[110]. - Current liabilities decreased from ¥1,748,950,344.57 to ¥1,641,428,942.85, a decline of approximately 6.1%[110]. - Accounts receivable amounted to $841.29 million, accounting for 34.38% of total assets, a decrease of 2.42% from the previous year[44]. - Inventory was reported at $886.36 million, representing 36.23% of total assets, down 4.12% year-over-year[44]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[7]. - The controlling shareholder is required to compensate the company with 228,359,418 shares due to performance commitments related to a major asset restructuring[85]. - The largest shareholder, Lhasa Ruihong Investment, holds 44.68% of the total shares, amounting to 333,179,376 shares[94]. - The number of unrestricted shares decreased to 316,024,900, accounting for 42.38% of total shares[89]. Regulatory and Legal Issues - The company is facing risks related to potential suspension or termination of its stock listing due to violations of information disclosure regulations[5][6]. - The company has ongoing litigation matters, including a contract dispute involving 4,680.11 million CNY and another involving 278.2 million CNY[67]. - The company is involved in multiple legal disputes, with claims totaling approximately ¥295.96 million related to false statements by minority shareholders[68]. - The company has been referred to judicial authorities for suspected violations of information disclosure laws[70]. Operational Challenges - The company faced challenges in business volume due to regulatory penalties, impacting overall financial performance[36]. - Research and development expenses were ¥12,400,952.71, down 41.65% year-on-year, mainly due to the impact of regulatory penalties[37]. - The company sold all available-for-sale financial assets, resulting in a total decrease of ¥21,000,000, a 100% reduction[29]. Investment and Subsidiaries - The company reported a significant increase in investment, with a total investment of $100 million, up 233.33% from $30 million in the same period last year[46]. - The company established a new subsidiary, Shanghai Yabait Supply Chain Management Co., with an investment of $10 million, holding 100% equity[47]. - As of June 30, 2018, the company had 11 subsidiaries included in the consolidated financial statements, an increase of 1 compared to 2017[147]. Accounting Policies and Financial Reporting - The financial report for the half-year period has not been audited[106]. - The company confirmed that there are no significant doubts regarding its ability to continue as a going concern for the next 12 months from the reporting date[149]. - The company adheres to the accounting policies and estimates as per the enterprise accounting standards, ensuring the financial statements reflect a true and complete view of its financial status as of June 30, 2018[150]. - The company follows a control-based principle for determining the scope of consolidated financial statements, including all subsidiaries under its control[158].