龙源技术(300105) - 2020 Q2 - 季度财报

Financial Performance - The company reported a net profit attributable to shareholders of 15.99 million yuan in 2017, 8.34 million yuan in 2018, and 13.98 million yuan in 2019, with a continuous decline in net profit after deducting non-recurring gains and losses, reaching -13.67 million yuan, -21.97 million yuan, and -24.10 million yuan respectively[7]. - The company's operating revenue for the reporting period was CNY 78.99 million, a decrease of 51.79% year-on-year[22]. - The net profit attributable to shareholders was CNY -19.76 million, down 11.20% compared to the previous year[22]. - The net profit after deducting non-recurring gains and losses was CNY -33.71 million, a decline of 38.85% year-on-year[22]. - The net cash flow from operating activities was CNY 6.41 million, a decrease of 40.20% compared to the previous year[22]. - The total assets at the end of the reporting period were CNY 2.17 billion, down 2.46% from the end of the previous year[22]. - The net assets attributable to shareholders were CNY 1.83 billion, a decrease of 6.15% year-on-year[22]. - The company reported a significant drop in other receivables, which fell to CNY 10,425,323.26 from CNY 24,378,981.60, a decrease of about 57.25%[138]. - The company reported a net loss for the first half of 2020 of CNY 19,758,303.14, compared to a net loss of CNY 18,057,408.66 in the first half of 2019, representing an increase in loss of 9.4%[148]. - The total comprehensive income for the first half of 2020 was -19,502,330.83 CNY, compared to -17,180,195.49 CNY in the same period of 2019, indicating a decline[151]. Revenue Segments - The energy-saving segment generated revenue of CNY 50.90 million, a decline of 29.28% year-on-year[31]. - The environmental protection segment reported revenue of CNY 27.93 million, a decrease of 69.60% year-on-year[31]. - The low-nitrogen combustion business within the environmental protection segment saw revenue increase by 96.08% to CNY 21.04 million[31]. - The energy-saving segment generated revenue of 5,090.09 CNY, down 29.28% compared to the previous year, with plasma ignition business revenue at 4,892.84 CNY, a decrease of 3.11%[43]. - The environmental protection segment reported revenue of 2,793.39 CNY, a decline of 69.60%, while low-nitrogen combustion business revenue increased by 96.08% to 2,103.65 CNY[43]. Investment and R&D - R&D expenses increased by 4.07% to 18.53 million yuan, with a total of 30 ongoing projects, including 4 national projects[40]. - The company holds 313 authorized patents, including 86 domestic invention patents and 20 foreign invention patents, reflecting its strong R&D capabilities[36]. - The company is focusing on innovative technologies such as LNG cold energy power generation and Allam cycle power generation systems, with ongoing research and development efforts[40]. - The company plans to enhance its innovation system and strengthen cooperation with universities and research institutions to maintain its technological edge[78]. - The company has allocated 5 million for new technology development in the upcoming fiscal year[68]. Market Position and Strategy - The company faces risks from increasing market competition, with a focus on developing differentiated competitive advantages through advancements in coal powder combustion control technology and exploring new technologies[3]. - The company plans to expand its non-electric business, achieving performance in projects such as plasma ignition in rotary kilns and denitrification in the steel industry[3]. - The company is actively pursuing overseas projects related to oil-saving ignition, achieving certain progress in this area[3]. - The company is exploring potential mergers and acquisitions to strengthen its market position[68]. - The company aims to improve its profitability through strategic cost management and operational improvements[167]. Financial Management - The company has not declared any cash dividends or stock bonuses for the reporting period[8]. - The company is addressing the risk of idle raised funds by exploring investment directions and models for corporate transformation and upgrading[5]. - The company has acknowledged the risk of idle raised funds and aims to explore investment directions to improve capital efficiency[78]. - The company has not engaged in any major asset or equity sales during the reporting period[74]. - The company has not conducted any asset or equity acquisition or sale transactions during the reporting period[97]. Operational Challenges - The company faced negative impacts from the COVID-19 pandemic, affecting overall business operations and revenue generation[30]. - The company is facing pressure on accounts receivable recovery due to the impact of the COVID-19 pandemic, with efforts to enhance collection strategies and communication with clients[5]. - The company has reported a decrease in electricity consumption due to the COVID-19 pandemic, impacting its accounts receivable recovery[78]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 20,529[120]. - The largest shareholder, Guodian Technology & Environment Group Co., Ltd., holds 23.25% of shares, totaling 119,322,720 shares[120]. - The second largest shareholder, Xiongya (Virgin) Limited, holds 18.75% of shares, totaling 96,228,000 shares[120]. - The company has a total of 513,216,000 shares, with 100% being unrestricted shares[117]. - The company did not issue any new shares or conduct any share buybacks during the reporting period[117]. Legal and Compliance - The company has no significant litigation or arbitration matters during the reporting period[89]. - The company is involved in a contract dispute with Beijing Zhengshi Tongchuang Environmental Engineering Technology Co., Ltd., with a claim amount of 6.707 million yuan[90]. - The company has initiated arbitration against Beijing Luoka Environmental Technology Co., Ltd. for a claim of 3.81 million yuan, which is currently in progress[90]. - The company has a total of 1.19187 million yuan in ongoing arbitration cases against Liaoning Datang International Fuxin Coal-to-Gas Co., Ltd.[90]. Environmental and Social Responsibility - The company is committed to sustainability and aims to reduce its carbon footprint by 20% over the next five years[68]. - The company has established a management mechanism for hazardous waste, adhering to reduction and resource utilization principles[111]. - The company does not belong to the key pollutant discharge units as per environmental protection regulations[111]. - The company has not initiated any poverty alleviation programs and has no plans for such initiatives[112].