LHM(SZ:002535)2019-08-25 16:00Financial Performance - The company's operating revenue for the first half of 2019 was ¥770,849,024.25, a decrease of 19.68% compared to ¥959,682,573.28 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was ¥5,128,318.22, down 92.22% from ¥65,906,016.60 year-on-year[22]. - The net cash flow from operating activities was ¥27,914,164.91, a significant decline of 93.89% compared to ¥456,633,041.43 in the previous year[22]. - The basic earnings per share decreased to ¥0.0064, down 92.21% from ¥0.0822 in the same period last year[22]. - The net profit after deducting non-recurring gains and losses was ¥3,518,500.23, a decrease of 94.17% compared to ¥60,402,081.51 in the same period last year[22]. - The company achieved total revenue of 770.85 million yuan, a year-on-year decrease of 19.68%, with a comprehensive gross margin of 14.87%, down 10.14 percentage points year-on-year[40]. - Total revenue for the reporting period was RMB 770.85 million, a decrease of 19.68% compared to RMB 959.68 million in the same period last year[43]. - The company reported a total comprehensive income of CNY 6,449,892.34 for the first half of 2019, reflecting a significant decrease from CNY 67,052,026.81 in the previous year[148]. Assets and Liabilities - Total assets at the end of the reporting period were ¥7,882,226,415.70, an increase of 4.94% from ¥7,511,443,182.18 at the end of the previous year[22]. - Cash and cash equivalents at the end of the reporting period amounted to ¥1,707,552,280, representing 21.66% of total assets, an increase of 9.23% compared to the previous year[51]. - Accounts receivable totaled ¥804,236,795.8, accounting for 10.20% of total assets, a decrease of 0.82% year-over-year[51]. - Inventory decreased to ¥667,230,499.2, representing 8.47% of total assets, down by 2.70% due to a reduction in raw material stock[51]. - Total liabilities increased to CNY 5,068,249,449.54 from CNY 4,703,916,108.36, which is an increase of about 7.74%[139]. - The company's total liabilities amounted to CNY 3,678,185,174.76, an increase of 2.6% from CNY 3,585,444,360.75 at the end of the previous period[144]. Revenue Segments - Revenue from the coal mining machinery and comprehensive service business was 447.94 million yuan, an increase of 6.10% year-on-year, while the gross margin for this segment was 22.43%, a decline of 14.85 percentage points[40]. - The iron casting business generated revenue of 291.92 million yuan, a year-on-year decrease of 36.80%, with a gross margin of 0.77%, down 10.67 percentage points[40]. - The coal machinery and comprehensive services segment contributed RMB 447.94 million, representing 58.11% of total revenue, with a year-on-year increase of 6.10%[46]. - The iron production segment saw a significant decline of 36.80%, generating RMB 291.92 million, which accounted for 37.87% of total revenue[46]. Cash Flow - The net cash flow from operating activities plummeted by 93.89% to RMB 27.91 million, primarily due to decreased revenue and customer payments[44]. - The company's operating cash flow for the first half of 2019 was ¥27.91 million, significantly down from ¥456.63 million in the same period of 2018[156]. - The net cash flow from financing activities was negative at -¥338.99 million, an improvement from -¥455.20 million in the first half of 2018[157]. - The cash received from sales of goods and services was 373,164,358.95 CNY, a decline of approximately 36.1% from 584,882,927.05 CNY in the first half of 2018[159]. Research and Development - Research and development expenses were RMB 13.76 million, down 21.43% from RMB 17.51 million, indicating a potential reduction in innovation spending[44]. - The company has developed over 100 types of hydraulic supports and other comprehensive mining equipment, with key technical performance indicators at a leading level domestically[36]. - Research and development expenses for the first half of 2019 were CNY 13,756,664.22, down 21.5% from CNY 17,508,674.64 in the same period of 2018[146]. Risk Factors - The company faces risks related to industry fluctuations, management, and raw material price volatility[10][11][12]. - The company faces industry fluctuation risks due to its reliance on the coal machinery sector, which is subject to demand changes in the coal industry[71]. - To mitigate risks, the company is enhancing market development efforts and focusing on the parts market to offset declines in whole machine demand[71]. Corporate Governance - The company has established a comprehensive governance structure and is continuously improving management systems to adapt to industry changes[73]. - The company has committed to avoiding competition with its own subsidiaries and ensuring that controlled entities do not engage in competing businesses[78]. - The company has not reported any changes in the raised fund projects during the reporting period[63]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[105]. - The company has completed desulfurization modifications to the sintering machine head, ensuring emissions of particulate matter and sulfur dioxide meet regulatory standards[105]. - The company emphasizes green smelting and strict adherence to environmental standards, ensuring both organized and unorganized emissions meet regulatory requirements[107]. Shareholder Information - The total number of shares is 801,683,000, with 28.99% being restricted shares and 71.01% being unrestricted shares[118]. - The largest shareholder, Guo Xiansheng, holds 29.81% of the shares, amounting to 238,970,600 shares, with 59,742,654 shares pledged[121]. - The company has not undergone any changes in its controlling shareholder or actual controller during the reporting period[123]. Financial Reporting - The financial report for the first half of 2019 has not been audited[81]. - The company’s financial statements are prepared based on the actual transactions and events in accordance with the relevant accounting standards[187]. - The accounting period for the financial statements is from January 1, 2019, to June 30, 2019[191].