HMJT(SZ:002356)2021-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥185,647,723.40, a decrease of 1.81% compared to ¥189,061,022.59 in the same period last year[25]. - The net profit attributable to shareholders for the first half of 2021 was -¥125,866,908.12, representing a decline of 37.40% from -¥91,609,219.38 in the previous year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses improved to -¥95,007,478.82, a 68.22% increase compared to -¥298,986,339.90 in the same period last year[25]. - The net cash flow from operating activities was ¥7,173,088.68, showing a significant increase of 128.99% from ¥3,132,495.65 in the previous year[25]. - The total operating revenue decreased by 1.81% to ¥185,647,723.40, with the commercial sector contributing ¥164,716,585.40, representing 88.72% of total revenue, a 15.35% increase year-on-year[54]. - The company's gross profit margin in the commercial sector was 38.87%, down by 7.61% compared to the previous year, with operating costs increasing by 31.75%[56]. Assets and Liabilities - Total assets decreased by 41.38% to ¥663,051,319.88 from ¥1,131,023,675.20 at the end of the previous year[25]. - The net assets attributable to shareholders were -¥2,392,189,060.86, a decline of 5.55% from -¥2,266,322,152.74 at the end of the previous year[25]. - The total assets at the end of the reporting period amounted to ¥661,000,000, with cash and cash equivalents accounting for 11.66% of total assets[61]. - The company's short-term borrowings increased significantly, accounting for 101.71% of total liabilities, primarily due to debt compensation arrangements with creditors[61]. - The inventory value decreased to ¥96,663,790.25, representing 14.58% of total assets, while accounts receivable decreased to ¥171,749,354.64, accounting for 25.90% of total assets[61]. Operational Strategy - The company aims to enhance its profitability by integrating industry resources and strengthening cooperation with duty-free channels[36]. - The company is focused on digital transformation and improving inventory turnover rates to adapt to the evolving retail landscape[35]. - The company has implemented a centralized procurement model to optimize product structure and manage supplier relationships effectively[39]. - The company plans to innovate its business development model and expand its market presence in the duty-free sector[38]. - The company has established long-term partnerships with international brands, leveraging online platforms and live streaming to increase customer engagement[35]. Risks and Challenges - The company faces significant operational risks, which are detailed in the management discussion section[5]. - The company continues to be under delisting risk warning due to negative net assets as of the end of 2020[4]. - The company faced risks from macroeconomic fluctuations, intensified market competition, and operational challenges due to the pandemic, which affected sales and inventory levels[69][70]. - The company is undergoing a pre-restructuring process initiated by the Shenzhen Intermediate People's Court due to insolvency issues[92]. - The company faces bankruptcy risk if the restructuring plan is not successfully implemented[93]. Legal and Compliance Issues - The company has ongoing litigation with Everbright Bank involving a loan dispute amounting to 28.52 million RMB, with joint liability from Huizhou Haoningda[96]. - The company is involved in a share transfer dispute with Shenzhen United Financial Holdings, with a claim of 51 million RMB, and the court has ordered payment[98]. - The company has a civil judgment requiring it to pay 55.9443 million yuan to China Twenty Metallurgical Group within 10 days of the judgment's effectiveness[102]. - The company has been ordered to pay overdue interest based on the interbank lending rate for various disputes, with specific amounts detailed in the judgments[102]. - The company has been listed as a dishonest executor in multiple cases, indicating potential risks in its financial and operational integrity[169]. Related Party Transactions - The company reported a related party transaction involving sales of merchandise with a transaction amount of 2.17 million yuan, which accounted for 0% of the approved transaction amount[175]. - There were no asset or equity acquisition or sale related party transactions during the reporting period[176]. - The company provided guarantees totaling 35 million yuan, with an actual guarantee amount of 8.5 million yuan for Beijing Shouhe, which is a related party[188]. - The total amount of guarantees provided by the company exceeded 50% of its net assets, amounting to 12.46 million yuan[192]. - The company resolved related party fund occupation issues, with creditors agreeing to compensate for a total of 283,936,176.73 yuan owed by a related party[199].