BLIIC(SZ:300135)2020-08-27 16:00Financial Performance - The company's operating revenue for the first half of 2020 was CNY 575,862,864.41, a decrease of 32.97% compared to CNY 859,082,357.76 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was a loss of CNY 30,755,794.78, representing a decline of 212.65% from a profit of CNY 27,302,450.71 in the previous year[23]. - The basic and diluted earnings per share were both CNY -0.0334, a decline of 212.84% from CNY 0.0296 in the same period last year[23]. - The company reported a total comprehensive loss of CNY 33,775,681.47 for the first half of 2020, compared to a comprehensive income of CNY 9,153,233.36 in the previous year[134]. - The company's revenue for the reporting period was ¥575,862,864.41, a decrease of 32.97% compared to the same period last year, primarily due to a decline in the average selling price of asphalt[46]. - The net profit for the first half of 2020 was a loss of approximately 13.43 million, compared to a profit of 15.09 million in the first half of 2019[137]. - The total operating profit for the first half of 2020 was a loss of approximately 8.35 million, down from a profit of 24.82 million in the same period of 2019[137]. - The company reported a significant increase in other income to approximately 966,337.25 in the first half of 2020, compared to 1.98 million in the same period of 2019[137]. Cash Flow and Assets - The net cash flow from operating activities improved by 60.47%, amounting to a loss of CNY 101,643,592.60 compared to a loss of CNY 257,142,418.74 in the same period last year[23]. - The company's cash and cash equivalents decreased by 21.19% to -¥243,368,828.37, reflecting improved cash flow from operating and investing activities[46]. - The total assets at the end of the reporting period were CNY 2,942,473,888.66, an increase of 1.48% from CNY 2,899,484,688.89 at the end of the previous year[23]. - The company's total assets increased to CNY 3,663,815,218.01 in the first half of 2020, up from CNY 2,624,659,122.35 in the same period of 2019[130]. - The company's total liabilities increased to CNY 1,715,862,522.79 from CNY 1,639,097,641.55, marking an increase of approximately 4.67%[125]. - The company's current assets totaled CNY 2,079,284,120.46, compared to CNY 2,012,253,748.47 at the end of 2019, reflecting an increase of approximately 3.33%[124]. - The inventory increased significantly from CNY 154,697,617.52 to CNY 220,498,726.91, reflecting an increase of about 42.5%[123]. Operational Challenges and Risks - The company faces risks related to accounts receivable, industry cyclicality, and fluctuations in raw material prices, particularly asphalt[6][8][9]. - The company faced significant operational challenges due to upstream suppliers and downstream customers not fully resuming operations[43]. - The company is exposed to cyclical risks in the industry, heavily reliant on infrastructure projects for revenue[69]. - The company faces risks from fluctuations in raw material prices, particularly asphalt, which is influenced by crude oil prices[70]. Research and Development - The company is developing several innovative road materials, including high-performance modified asphalt for extreme cold regions and UV-resistant materials, all aimed at industrialization[37]. - The company has developed multiple patented technologies related to asphalt, including methods for low-noise asphalt and high-weather-resistant asphalt, enhancing its product offerings[42]. - Research and development expenses were ¥12,681,995.52, down 33.02% year-on-year, mainly due to a decrease in the quantity and unit price of direct materials used[46]. Market and Business Strategy - The company plans to continue expanding its market presence and improving operational efficiency in response to the challenges faced during the pandemic[43]. - The company plans to focus on infrastructure construction in the central and western regions of China, leveraging the "Belt and Road" initiative[70]. - The company has established subsidiaries in Jiangsu, Hunan, Shaanxi, Sichuan, Xinjiang, Tibet, and Jilin, expanding its business coverage across East China, Central China, Northwest China, and Southwest China[30]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 42,354[105]. - The largest shareholder, Zhou Dehong, holds 30.65% of the shares, totaling 70,610,232 shares[106]. - Zhou Xiufeng, the second-largest shareholder, holds 4.73% of the shares, totaling 43,567,200 shares[106]. Governance and Compliance - The financial report for the first half of 2020 was not audited[121]. - The financial statements comply with the accounting standards set by the Ministry of Finance, ensuring accurate reflection of the company's financial status[167]. - The company has not engaged in any related party transactions during the reporting period[83]. Environmental and Social Responsibility - The company has not engaged in any major environmental violations and adheres to national emission standards for its asphalt production[96]. - There are no ongoing or planned poverty alleviation initiatives as of the reporting period[97].