SEGCL(SZ:200058)2019-08-26 16:00Financial Performance - The company's operating revenue for the first half of 2019 was ¥765,491,685.14, a decrease of 13.30% compared to ¥882,938,088.67 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was ¥83,287,552.02, down 14.72% from ¥97,666,987.94 year-on-year[17]. - The net profit after deducting non-recurring gains and losses was ¥29,226,532.61, a significant decline of 44.71% compared to ¥52,856,872.90 in the previous year[17]. - The basic earnings per share were ¥0.0674, down 14.68% from ¥0.0790 in the same period last year[17]. - The diluted earnings per share were also ¥0.0674, reflecting the same decline of 14.68% compared to the previous year[17]. - The weighted average return on net assets was 4.37%, a decrease of 0.64% from 5.01% in the previous year[17]. - The company achieved total revenue of approximately 765 million yuan, a decrease of about 124 million yuan or 13.93% compared to the same period last year[31]. - The total profit amounted to approximately 156 million yuan, down by about 35 million yuan or 18.07% year-on-year, primarily due to a decline in property sales from new cities by approximately 162 million yuan[31]. - The company reported a net profit for the first half of 2019 of approximately ¥79.23 million, compared to ¥81.63 million in the previous year, indicating a decrease of around 2.9%[198]. Cash Flow and Assets - The net cash flow from operating activities increased by 402.73% to ¥131,246,757.44, compared to ¥26,107,017.32 in the same period last year[17]. - The company's cash and cash equivalents decreased by 52.86% compared to the beginning of the period, mainly due to the repayment of short-term bank loans[28]. - Cash and cash equivalents at the end of the reporting period amounted to 828,411,894.10 RMB, accounting for 13.44% of total assets, a slight decrease of 0.20% compared to the previous year[58]. - The company's total assets at the end of the reporting period were ¥6,163,327,505.62, a decrease of 13.53% from ¥7,128,009,738.20 at the end of the previous year[17]. - The company's current assets totaled CNY 4,138,733,504.05, down from CNY 5,068,568,666.07, indicating a decrease of about 18.3%[183]. - The total liabilities decreased from CNY 4,678,160,834.05 to CNY 3,617,414,222.46, a reduction of approximately 22.7%[185]. Investments and Financing - The company reported a net cash flow from investment activities of -CNY 465.91 million, a decrease of 439.97% compared to the previous year, mainly due to increased cash payments for investments[48]. - The financing activities resulted in a net cash flow of -CNY 595.92 million, a 115.46% increase in outflows due to higher bank loan repayments[48]. - The company plans to refinance RMB 350 million in the second half of 2019 to support its real estate operations[8]. - The company’s financing balance includes 145 million yuan from bank operating property loans with a term until 2028 at an interest rate of 6.86%[36]. - The company plans to apply for a total credit facility of RMB 2.8 billion from 11 banks[126]. Strategic Initiatives - The company is transitioning from a single business model to a multi-format operational model, enhancing its competitive edge in the electronic market[29]. - The company aims to enhance its international market operations as the cost of photovoltaic power generation decreases, indicating a shift towards global expansion[26]. - The company is focusing on improving its financial performance and exploring new strategies for market expansion and product development[198]. - The company is actively expanding its property management services by introducing distributed fiber optic sensing technology and promoting smart parking projects[33]. - The company is committed to enhancing its product offerings and technological advancements in the upcoming quarters[119]. Legal and Compliance Issues - The company is involved in significant litigation, with a case against Wodewo Company involving a claim of 7,714,270.54 CNY for unpaid goods[92]. - The company has a pending case against Yixin Zhongtian Company, with a judgment requiring payment of 13,241,726.25 CNY for goods sold[93]. - The company is also pursuing claims against Kangwang Technology Company, with a judgment of 5,144,253 CNY for breach of contract[94]. - The company has incurred legal fees amounting to 220,000 CNY related to various lawsuits[92][93][94]. - The company is facing potential liabilities from ongoing legal disputes, which may impact future financial performance[92][93][94]. Shareholder and Corporate Governance - The company has appointed Mr. Li Liwu as the new director and general manager[125]. - The company has appointed Mr. Bian Yong as the new deputy general manager and Ms. Yan Dongxia as the deputy general manager and financial officer[125]. - The company plans to stop the current business of Shenzhen Seg联众 Internet Technology Co., Ltd. and transform the Seg esports venue into a communication market[131]. - The company has a total of RMB 221 million in loans from Citic Bank that may require it to fulfill guarantee obligations due to a default by the borrower[39]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[138].