CREAT(SZ:002350)2020-08-14 16:00Financial Performance - The company's operating revenue for the current reporting period is approximately ¥799.89 million, a decrease of 21.78% compared to the same period last year[19]. - The net profit attributable to shareholders of the listed company is approximately -¥8.54 million, representing a decline of 179.10% year-on-year[19]. - The net cash flow from operating activities is approximately -¥184.69 million, a significant decrease of 1,074.14% compared to the previous year[19]. - The company's basic earnings per share for the current period is -¥0.0174, a decrease of 187.00% compared to the previous year[19]. - The company's weighted average return on net assets is -0.48%, down by 1.08% from the previous year[19]. - Revenue for the reporting period was 799.8882 million yuan, a year-on-year decline of 21.78%, with a net profit of -6.6287 million yuan, down 141.19%[45]. - The total comprehensive income for the first half of 2020 was ¥-6,628,709.06, compared to ¥16,091,379.52 in the first half of 2019, indicating a significant decline in overall financial performance[186]. - The company reported a total profit for the first half of 2020 was ¥-5,652,407.60, compared to ¥25,655,763.94 in the first half of 2019, reflecting a substantial decrease[186]. Assets and Liabilities - The total assets at the end of the reporting period amount to approximately ¥3.44 billion, an increase of 1.65% from the end of the previous year[19]. - The company's cash and cash equivalents decreased by 60.48% to -¥151,296,264.31 from -¥382,869,313.13 in the previous year[56]. - Accounts receivable increased to 1,103,824,765.35, representing 32.11% of total assets, an increase of 0.48% year-on-year[64]. - Inventory stood at 546,037,840.26, accounting for 15.88% of total assets, up by 0.29% from the previous year[64]. - Short-term borrowings rose to 300,000,000.00, making up 8.73% of total liabilities, a significant increase of 7.20% due to new bank loans[65]. - The total liabilities at the end of the reporting period were 1,795,196,740.00 CNY[200]. Research and Development - The company is focused on developing new technologies and products in the distribution automation sector[11]. - The company has accumulated 147 patent authorizations, including 39 invention patents, 105 utility model patents, and 3 design patents[37]. - Research and development expenses were ¥41,938,784.08, down 18.52% from ¥51,468,339.49 in the previous year[56]. - The company is actively developing new products, including a storage integration machine that combines control and main control functions to reduce costs and facilitate installation and maintenance[50]. - The energy management platform underwent a technical upgrade, enhancing functionalities such as energy management and analysis, and integrating blockchain and edge computing technologies[50]. Market Strategy and Expansion - The report highlights the company's strategic initiatives for market expansion and potential mergers and acquisitions[11]. - The company plans to enhance its market position by leveraging its established resources and partnerships with power grids and local governments[26]. - The company is focusing on expanding its market presence through new product development and technology services in the energy sector[80]. - The company is expected to benefit from the ongoing investment in distribution network construction, with a projected investment of no less than 1.7 trillion in the 2016-2020 period[32]. - The company plans to expand beyond the current customer base and improve its market position by exploring new technologies and business areas[100]. Corporate Governance and Transparency - The financial report ensures the accuracy and completeness of the financial statements, with the responsible persons affirming their authenticity[4]. - The company has a commitment to transparency, with all board members present for the report's review[5]. - The company did not distribute cash dividends or issue bonus shares for the first half of 2020[106]. - The half-year financial report for 2020 was not audited, indicating a lack of external validation for the financial data presented[108]. - The company has no significant litigation or arbitration matters during the reporting period[111]. Shareholder Activities - The company reported a cash dividend of RMB 0.6 per 10 shares, with a record date of May 18, 2020[119]. - The company has engaged in share repurchase activities, with multiple announcements regarding the progress of these repurchases throughout early 2020[144]. - The company approved a share repurchase plan with a total fund not exceeding RMB 200 million and a minimum of RMB 50 million, with a repurchase price not exceeding RMB 10 per share[153]. - As of the report date, the company has repurchased a total of 18,737,660 shares, accounting for approximately 3.45% of the total share capital of 542,369,011 shares, with a total transaction amount of RMB 111,752,392.62[156]. Environmental Management - The company has implemented advanced equipment for environmental management, including SF6 gas recovery systems and smoke purification systems, to minimize environmental pollution[141]. - The company has not been classified as a key pollutant discharge unit by environmental protection authorities, indicating compliance with environmental regulations[141]. - The company continues to prioritize environmental management and clean production across all operational stages[141].