Jiayu (SZ:300117)2021-10-27 16:00Financial Performance - Total revenue for the first half of 2019 was CNY 1,530,769,900.18, a decrease of 18.07% compared to CNY 1,868,404,594.56 in the same period last year[18]. - Net profit attributable to shareholders was CNY 48,183,761.49, down 14.01% from CNY 56,032,348.40 year-on-year[18]. - Net profit after deducting non-recurring gains and losses was CNY 42,682,374.05, a decline of 16.36% compared to CNY 51,033,003.00 in the previous year[18]. - Basic earnings per share decreased to CNY 0.07, down 12.50% from CNY 0.08 in the previous year[18]. - The company achieved a sales revenue of 1.531 billion yuan, a year-on-year decrease of 18.07%, while cash collections reached 1.855 billion yuan, an increase of 22.94%[35]. - The company reported a significant increase of 1,933.99% in cash flow from investment activities, amounting to RMB 451.49 million, mainly from asset disposals[55]. - The total profit for the first half of 2019 was CNY 57,530,842.44, a decline of 14.6% from CNY 67,359,871.62 in the previous year[158]. - The company's operating profit was CNY 59,254,327.72, a decrease of 13.8% from CNY 68,785,898.27 in the same period of 2018[158]. - The net cash flow from operating activities improved to -CNY 199,520,920.49, a 46.20% increase from -CNY 370,849,348.98 in the same period last year[18]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,324,757,311.47, a decrease of 6.49% from CNY 6,763,539,012.01 at the end of the previous year[18]. - The company's total liabilities decreased to CNY 4,911,369,088.01 as of June 30, 2019, from CNY 5,392,658,598.62 at the end of 2018, representing a reduction of 8.91%[150]. - Current liabilities totaled CNY 4,326,223,581.75, down 9.76% from CNY 4,795,634,750.26 at the end of 2018[150]. - The asset-liability ratio decreased from 79.73% at the beginning of the year to 77.65%, reflecting enhanced financial stability[55]. - Cash and cash equivalents decreased to CNY 307,961,047.3, down 6.48% from CNY 767,410,082.16 in the previous year, reflecting a significant change in asset composition[65]. Cash Flow - The net cash flow from operating activities for the first half of 2019 was -199,520,920.49 CNY, an improvement from -370,849,348.98 CNY in the same period of 2018, indicating a 46% reduction in losses[166]. - Total cash inflow from operating activities decreased to 1,532,299,185.13 CNY in 2019 from 1,611,036,279.24 CNY in 2018, reflecting a decline of approximately 4.9%[166]. - Cash outflow from operating activities also decreased to 1,731,820,105.62 CNY in 2019 from 1,981,885,628.22 CNY in 2018, showing a reduction of about 12.6%[166]. - The total cash and cash equivalents at the end of the first half of 2019 were 209,511,520.23 CNY, down from 649,876,669.39 CNY at the end of the first half of 2018, a decrease of about 67.7%[167]. Research and Development - The company increased R&D investment by 27.83% to RMB 24.62 million, focusing on technological innovation in photovoltaic and intelligent equipment sectors[55]. - Research and development expenses rose to CNY 6,642,851.12, an increase of 57.3% compared to CNY 4,226,973.52 in the first half of 2018[160]. - The company has applied for 62 new patents related to windows and curtain walls, photovoltaic thermal, and intelligent equipment, with a total of 458 authorized patents[42]. Market Position and Strategy - The company is recognized as the top brand in the energy-saving doors and windows industry in China and has established long-term strategic partnerships with major real estate companies like Evergrande and Vanke[25][33]. - The company aims to strengthen cooperation with the top 20 real estate companies in China to enhance its market position[33]. - The company has formed strategic partnerships with major real estate developers to mitigate risks associated with real estate market fluctuations, enhancing the resilience of its energy-saving doors and windows business[77]. - The company is expanding into solar photovoltaic and intelligent equipment robotics while maintaining its core business in doors and windows, which has been established for over 30 years[76]. Corporate Governance - The company has a stable management team with an average tenure of over 12 years and 45% of its workforce holding a bachelor's degree or higher[43]. - The company has not distributed cash dividends or bonus shares for the half-year period[83]. - The company has no significant equity investments or fundraising activities during the reporting period, indicating a focus on internal growth[67]. Social Responsibility - The company is actively involved in national poverty alleviation projects, providing comprehensive solutions from photovoltaic products to applications[34]. - The company successfully implemented photovoltaic poverty alleviation projects with a cumulative installed capacity exceeding 100 MW, benefiting nearly 30,000 impoverished households[53]. Shareholder Information - The total number of shares outstanding is 716,760,000, with 99.65% being unrestricted shares[129]. - The largest shareholder, Jiayu New Investment (Group) Co., Ltd., holds 41.66% of the shares, totaling 298,597,706[131]. - The company has not disclosed any other necessary information as required by securities regulatory authorities[130].