Hitevision (SZ:002955)2020-08-10 16:00Financial Performance - The company's operating revenue for the first half of 2020 was ¥1,144,335,130.70, a decrease of 43.48% compared to ¥2,024,785,966.87 in the same period last year[26]. - The net profit attributable to shareholders of the listed company was a loss of ¥32,689,052.35, down 129.03% from a profit of ¥112,622,867.29 in the previous year[26]. - The net cash flow from operating activities was -¥606,918,551.65, which is a deterioration of 179.72% compared to -¥216,971,462.90 in the same period last year[26]. - The basic earnings per share were -¥0.14, a decline of 113.46% from ¥1.04 in the previous year[26]. - The company's operating revenue for the reporting period was ¥1,144,335,130.70, a decrease of 43.48% compared to ¥2,024,785,966.87 in the same period last year, primarily due to the impact of domestic and international pandemics[58]. - The company's operating costs decreased by 45.62% to ¥826,659,961.40 from ¥1,520,122,168.54, reflecting the decline in revenue[58]. - The education segment accounted for 84.86% of total revenue, generating ¥971,080,617.55, down 40.52% year-on-year[65]. - The overseas revenue represented 55.42% of total revenue, amounting to ¥634,233,891.30, with a decrease of 7.70% compared to the previous year[58]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,873,974,898.91, a decrease of 2.27% from ¥3,964,145,370.85 at the end of the previous year[26]. - The net assets attributable to shareholders of the listed company were ¥2,905,060,689.49, down 0.59% from ¥2,922,401,450.93 at the end of the previous year[26]. - The company's cash and cash equivalents decreased by 106.26% to -¥108,040,516.33 from ¥1,726,347,638.59, attributed to the lack of fundraising and reduced sales[62]. - The company's total assets included cash of ¥893,353,278.73, which constituted 23.06% of total assets, a decrease of 30.53% from the previous year due to the prior year's fundraising[70]. Investments and R&D - The company reported a significant increase in non-operating income from financial products, amounting to ¥18,077,553.12[29]. - Research and development expenses increased by 2.33% to ¥86,129,518.15 from ¥84,165,458.60, indicating continued investment in innovation[62]. - The company obtained a total of 562 patents and 289 software copyrights by the end of the reporting period, indicating a strong focus on R&D[50]. - The total investment amount for the reporting period was CNY 457,549,750, a decrease of 17.66% compared to CNY 555,713,700 in the same period last year[75]. - The company has invested CNY 121,007,890.91 in the interactive display product production base project, with a cumulative actual investment of CNY 221,832,495.35[75]. Operational Risks and Management - The company faces various operational risks and has outlined corresponding measures to mitigate these risks in the report[6]. - The company has optimized its internal control system to effectively prevent operational risks[53]. - The company is actively monitoring the impact of the COVID-19 pandemic on its operations and is implementing strategies to minimize adverse effects[117]. - The company is facing risks related to fluctuations in national education funding, which could impact customer demand and overall performance[110]. - The company has established a risk management department to strengthen intellectual property protection and mitigate overseas operational risks[115]. Corporate Governance and Shareholder Matters - The company plans not to distribute cash dividends or issue bonus shares[7]. - The annual shareholders' meeting had a participation rate of 76.06% on May 22, 2020[121]. - The company completed the first grant of restricted stock under the 2019 incentive plan, granting 1,856,877 shares to 286 incentive objects[139]. - The company's total share capital increased from 137,233,977 shares to 139,090,000 shares after the stock grant[139]. - The company did not engage in any major related party transactions during the reporting period[143]. - The company has fulfilled all commitments made by its controlling shareholders and related parties[126]. Subsidiary Performance - The subsidiary "Horizon Innovation" reported a net loss of RMB 31,008,542.14, with total revenue of RMB 968,013,916.70 during the reporting period[106]. - The subsidiary "Horizon Hong Kong" achieved a net profit of HKD 8,445,433.74, with total revenue of HKD 261,212,167.64[106]. - The subsidiary "New Line USA" generated a net profit of USD 27,444,318.31, with total revenue of USD 236,502,007.48[106]. Shareholding Structure - The largest shareholder, 鸿达成有限公司, holds 17.33% of the shares, totaling 40,982,799 ordinary shares, with an increase of 16,875,270 shares during the reporting period[188]. - The second-largest shareholder, 王京, holds 14.08% of the shares, totaling 33,282,731 ordinary shares, with an increase of 13,704,654 shares during the reporting period[188]. - The shareholder 邢正 holds 13.58% of the shares, totaling 32,110,693 ordinary shares, with an increase of 13,222,050 shares during the reporting period[188]. - The shareholder 张树江 holds 12.07% of the shares, totaling 28,534,495 ordinary shares, with an increase of 11,749,498 shares during the reporting period[188]. - The company’s foreign shareholding decreased from 24.75% to 17.56% following the share capital increase[175].