SMS(SZ:002857)2022-08-25 16:00Financial Performance - The company's operating revenue for the first half of 2022 was ¥44,994,730.17, a decrease of 3.90% compared to ¥46,821,852.04 in the same period last year[22]. - The net profit attributable to shareholders was a loss of ¥1,885,468.60, representing a significant decline of 1,049.22% from a loss of ¥164,064.74 in the previous year[22]. - The net cash flow from operating activities was negative at ¥553,768.88, a decrease of 921.22% compared to a positive cash flow of ¥67,432.86 in the same period last year[22]. - Basic and diluted earnings per share were both reported at -¥0.0147, a decline of 1,030.77% from -¥0.0013 in the previous year[22]. - The company reported significant non-recurring losses, including a net profit loss of ¥5,125,322.39 after deducting non-recurring gains and losses, which is a 3,357.27% decline from the previous year[22]. - The total comprehensive income for the first half of 2022 was -¥1,885,468.60, compared to -¥164,064.74 in the first half of 2021[140]. - The company reported a significant increase in sales expenses to ¥17,014,301.25 in the first half of 2022, up from ¥14,764,679.52 in the first half of 2021[135]. Assets and Liabilities - Total assets at the end of the reporting period were ¥598,642,347.75, down 5.43% from ¥633,016,564.57 at the end of the previous year[22]. - The net assets attributable to shareholders decreased slightly to ¥512,492,506.16, a reduction of 0.37% from ¥514,377,974.76 at the end of the previous year[22]. - The company's total assets at the end of the reporting period were ¥201,097,159.92, a decrease from ¥248,849,434.00 at the end of the previous year, primarily due to an increase in bank financial product balances[48]. - The total liabilities decreased to CNY 86,149,841.59 from CNY 118,638,589.81, a reduction of about 27.3%[128]. - The company reported a significant reduction in accounts payable, which decreased to CNY 40,335,367.24 from CNY 64,121,183.46, a decline of about 37.1%[127]. Revenue and Costs - The cost of goods sold increased by 18.51% to ¥32,160,414.90, primarily due to rising direct labor and manufacturing costs[41]. - Total operating costs increased to ¥58,952,396.80 in the first half of 2022, up 11.5% from ¥52,780,134.68 in the same period of 2021[135]. - Revenue from the electric energy meter standard and calibration device product series increased by 40.04% to ¥18,360,402.37, driven by higher sales of automated calibration systems[45]. - Revenue from the electric energy measurement supporting product series decreased by 32.28% to ¥20,842,592.22, mainly due to reduced sales of self-use electricity information collection systems[45]. Research and Development - Research and development expenses decreased by 19.82% to ¥5,966,614.63, attributed to reduced material consumption during the reporting period[41]. - The company has allocated 31 million yuan for research and development in new technologies[148]. - The company emphasizes independent research and development, supported by a two-tier technical organization, enabling rapid response to market changes and continuous innovation[35]. Corporate Governance and Management - The company has established a sound corporate governance structure, ensuring the protection of shareholder rights and maintaining transparent communication with minority shareholders[82]. - The management team possesses extensive experience in electric meter technology, ensuring alignment with industry trends and strategic development[39]. - The company has implemented a human resources management system that complies with legal requirements, ensuring the protection of employee rights and fostering harmonious labor relations[83]. Market and Industry Outlook - The company operates in the electric power industry, benefiting from national policies and the rapid development of the smart grid, with a focus on energy consumption growth during the "14th Five-Year Plan" period[30]. - The company anticipates steady growth in electricity consumption, particularly in western regions, as it continues to expand its market presence and product offerings[30]. - The company plans to enhance its competitive edge through continuous innovation, increasing market expansion efforts, and optimizing product structure to address intensified market competition[71]. Cash Flow and Financing - The net cash flow from financing activities increased to 1,790,780.11 CNY in the first half of 2022, compared to 839,792.18 CNY in the same period of 2021, showing improved financing performance[142]. - The cash flow from investment activities showed a net outflow of -47,805,037.16 CNY in the first half of 2022, compared to -4,755,636.99 CNY in the first half of 2021, indicating increased investment expenditures[142]. - The company has a total of 6,678.39 million in raised funds currently held in a dedicated account, which remains unused[61]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 5,282[112]. - The largest shareholder, Yu Wenbiao, held 9.36% of the shares, with 5 million shares pledged[112]. - The company maintains a stable shareholder structure with no reported related party transactions among the top shareholders[114]. Compliance and Reporting - The semi-annual financial report was not audited[90]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect a true and complete picture of its financial status as of June 30, 2022[166]. - The company has confirmed its ability to continue operations for at least 12 months from the reporting date without significant issues affecting its ongoing viability[164].