LSR(SZ:002858)2022-08-09 16:00Financial Performance - The company's operating revenue for the first half of 2022 was ¥77,091,705.48, a decrease of 33.92% compared to ¥116,672,833.91 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was -¥38,661,237.23, representing a decline of 657.20% from a profit of ¥6,938,534.99 in the previous year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥40,462,730.49, a significant drop of 2,599.37% compared to -¥1,498,966.77 in the same period last year[21]. - The net cash flow from operating activities was ¥468,964.40, down 98.73% from ¥36,924,437.77 in the previous year[21]. - The basic earnings per share were -¥0.2486, a decrease of 537.68% from ¥0.0568 in the same period last year[21]. - The diluted earnings per share were -¥0.2459, a decline of 532.92% compared to ¥0.0568 in the previous year[21]. - The weighted average return on net assets was -5.25%, down 7.25% from 2.00% in the previous year[21]. - Total assets at the end of the reporting period were ¥1,039,156,281.31, a decrease of 8.51% from ¥1,135,776,651.18 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company were ¥713,681,798.96, down 2.37% from ¥730,975,464.71 at the end of the previous year[21]. Operational Highlights - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company launched its first self-developed pure electric go-kart in June 2022, marking a significant product development milestone[31]. - The company operates multiple racing events, including the TCR International Series and the Ferrari Asia Pacific Challenge, with a total of 5 events held during the reporting period[32]. - The company experienced delays in domestic sports events and club operations due to the pandemic, with plans to resume activities in the second half of the year[31]. - The company has expanded its operations with the opening of new go-kart venues in Beijing and Nanchang starting July 2022[31]. - The company reported a loss of CNY 110,881.64 from other non-operating income and expenses[26]. - The company has a strategic focus on digital sports, with a business model divided into three main segments: space, IP, and digitalization[30]. - The company has been recognized as a "National Sports Industry Demonstration Unit" by the General Administration of Sport of China[30]. - The company has a strong customer satisfaction rate and has been expanding its business scale year by year[30]. Event Management and Sponsorship - The Porsche Carrera Cup Asia (PCCA) has successfully held 208 races since its inception in 2003, with a total mileage exceeding 325,000 kilometers and participation from 178 drivers across 21 countries[34]. - The GT Super Sprint Challenge (GTSSC), a new GT-level event launched in 2021, hosted 5 races during the year, although planned events were postponed due to the ongoing pandemic[34]. - The Tianma Driving Festival, established in 2007, is a significant racing cultural event in the Yangtze River Delta, with 2 races held in 2021, but none during the reporting period due to pandemic impacts[35]. - The Central South Racing Festival, initiated in 2017, successfully held 2 races in 2021, becoming a premier automotive and motorcycle themed festival in the region[36]. - The Super Endurance Championship (SEC), launched in 2016, held 1 race during the reporting period, with a format that includes preliminary races leading to a 12-hour endurance race[36]. - The Elite Series, which transitioned to a single-brand event in 2021, did not hold any races during the reporting period due to adjustments in vehicle participation[37]. - The Lisheng Super Track Festival, created in 2017, hosted 1 event in 2021, contributing to the development of motorsport culture[38]. - The 24-Hour Karting Endurance Race, a unique event since 2018, held 1 race in 2021, recognized as one of the most challenging karting events in the country[38]. - The Tianma Motorcycle Club Race, launched in 2021, aimed to provide a platform for motorcycle enthusiasts, with 2 races planned but none held due to pandemic restrictions[39]. Venue Operations - The company operates multiple sports venues, including the Shanghai Tianma Circuit, which is a FIA Grade 4 track, and the Zhuzhou International Circuit, a FIA Grade 2 track, enhancing its capacity for hosting various motorsport events[40]. - The company operates multiple karting venues, including the Jin Hua International Karting Track, which is 1.02 km long and designed according to FIA-CIK international standards[43]. - The company has launched several indoor and outdoor electric karting venues, with the Shanghai Expo store being the first outdoor electric karting venue, covering an area of approximately 5,000 square meters and a track length of 510 meters[44]. - The Beijing Zhongqi Lian Karting Track, opened in July 2022, features a track area of 20,000 square meters and a length of 833 meters, accommodating 13 turns[44]. - The company has a competitive advantage in motorsport events, with the SAIC Volkswagen 333 team having won multiple championships in the China Rally Championship and CTCC[45]. - The MG XPOWER team, sponsored by SAIC Motor, won the TCR China team championship in 2020 and 2021, showcasing the company's strong presence in competitive racing[45]. Research and Development - Research and development expenses increased by 102.00% to ¥10,634,907.86, up from ¥5,264,731.80, indicating a focus on enhancing digital business capabilities[66]. - The company is focused on enhancing operational efficiency in its racing teams, with income recognition linked to the distribution of race events[51]. - The company is actively expanding its digital sports services, integrating new technologies like AI and IoT to meet the growing demand for health management and fitness solutions[55]. - The company has set a performance guidance for the next quarter, expecting a revenue increase of 10% to 15%[193]. - Research and development expenses have increased by 20% to support new technology advancements[193]. Market Expansion and Future Outlook - The company plans to continue focusing on market expansion and new product development despite the challenges posed by the pandemic[70]. - The company raised a total of RMB 390.50 million through a non-public offering, with a net amount of RMB 380.66 million after deducting fees[85]. - The company plans to continue using the unutilized raised funds for committed investment projects[87]. - The company aims to reduce operational costs by 15% through efficiency improvements in the supply chain[122]. - Future guidance indicates a commitment to sustainable growth, with plans to invest 500 million yuan in green technologies over the next five years[122]. Shareholder and Governance - The company emphasized the protection of shareholder rights by ensuring transparent and fair information disclosure practices[118]. - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing[121]. - The company will ensure that any share reduction price will not be lower than the issue price during the two years following the lock-up period[121]. - The company has established a cautious plan for share reductions to stabilize stock prices and support business operations[121]. - The company has a diverse shareholder base, including both individual and institutional investors[155]. Social Responsibility - The company continued to fulfill its social responsibilities without layoffs or salary reductions during the pandemic[118]. - The company donated 100,000 yuan to support pandemic relief efforts in Shanghai during the first half of the year[119]. - The company plans to expand its market presence and enhance public relations to contribute to local economic development[119].