Refond(SZ:300241)2019-08-29 16:00Financial Performance - Total revenue for the first half of 2019 was CNY 655,273,748.44, a decrease of 11.07% compared to CNY 736,854,258.63 in the same period last year[19]. - Net profit attributable to shareholders was CNY 37,511,112.69, down 45.32% from CNY 68,595,955.65 year-on-year[19]. - Net profit after deducting non-recurring gains and losses was CNY 24,022,190.39, a decrease of 16.79% compared to CNY 28,869,263.80 in the previous year[19]. - Basic earnings per share decreased to CNY 0.0699, down 46.97% from CNY 0.1318 year-on-year[19]. - The company's total operating revenue for the reporting period was CNY 655,273,748.44, a decrease of 11.07% compared to the same period last year[29]. - The net profit attributable to shareholders was CNY 37,511,112.69, down 45.32% year-on-year, with earnings per share of CNY 0.0699[29]. - The company's total revenue for the first half of 2019 was CNY 655,273,748.44, a decrease of 11.07% compared to the same period last year[43]. - The net profit attributable to shareholders was CNY 37,511,112.69, down 45.32% year-on-year, with earnings per share of CNY 0.0699[43]. - The company reported a significant decrease in cash and cash equivalents, totaling ¥171.15 million, down ¥42.94 million from the previous year, primarily due to reduced customer payments and loan repayments[61]. - The company reported a total of ¥54.3 million in short-term loans, a decrease of ¥41.2 million from the previous year, mainly due to loan repayments[61]. Cash Flow and Investments - Operating cash flow net amount reached CNY 93,423,502.58, an increase of 1,601.99% from CNY 5,489,089.18 in the same period last year[19]. - The company reported a significant increase in cash flow from operating activities, amounting to ¥93,423,502.58, a 1,601.99% increase compared to ¥5,489,089.18 in the previous year[54]. - The net cash flow from financing activities decreased by 871.30% to -¥115,636,000.09, primarily due to cash outflows for debt repayment[55]. - The net cash flow from financing activities showed a negative balance of -¥99,337,432.96 in 2019, contrasting with a positive net inflow of ¥11,772,162.41 in the previous year[161]. - Cash flow from investing activities resulted in a net outflow of CNY 16,648,378.01, worsening from a net outflow of CNY 12,960,799.06 in the previous year[157]. Research and Development - The company invested CNY 38,163,500 in R&D, representing 5.82% of sales revenue, an increase of 29.33% year-on-year[32]. - The company's R&D investment reached CNY 3,816.35, accounting for 5.82% of total revenue, representing a 29.33% increase year-on-year[47]. - Research and development expenses increased by 29.33% to ¥38,163,470.03, driven by ongoing investments in new projects such as Mini LED technology[54]. - The company is focusing on new display technologies such as laser, Mini LED, and Micro LED to enhance its core competitiveness[26]. - The company plans to continue focusing on R&D to enhance product offerings and market competitiveness[153]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,175,107,155.40, a decrease of 9.83% from CNY 2,412,334,036.04 at the end of the previous year[19]. - The company's current assets decreased to CNY 1,044,386,627.74 from CNY 1,320,557,277.22, reflecting a reduction of about 20.92%[140]. - Total liabilities decreased to CNY 816,454,956.73 from CNY 1,074,293,861.08, showing a reduction of approximately 24%[142]. - The company's equity attributable to shareholders increased slightly to CNY 1,357,391,573.22 from CNY 1,336,005,757.44, an increase of about 1.3%[142]. Market and Competition - The company faces risks such as intensified market competition and high reliance on government subsidies[5]. - The company's revenue for the reporting period was ¥655,273,748.44, a decrease of 11.07% compared to ¥736,854,258.63 in the same period last year, primarily due to ongoing market downturns and intense competition[54]. Government Subsidies - The company received government subsidies totaling CNY 8,340,067.03 during the reporting period, contributing to other income of CNY 19,038,909.85[31]. - Government subsidies contributed 45.01% to the total profit for the reporting period, with a total of ¥8,340,067.03 received[80]. - The company recognized a total of ¥19,038,909.85 in other income during the reporting period, including ¥8,340,067.03 from government subsidies[80]. Shareholder and Equity Changes - The company plans not to distribute cash dividends or issue bonus shares[6]. - The total number of shares decreased from 552,579,200 to 550,961,648, a reduction of 1,617,573 shares due to the repurchase and cancellation of shares related to performance commitments[116]. - The company did not distribute cash dividends or issue bonus shares for the half-year period[84]. - The company approved a total guarantee amount of CNY 750 million for subsidiaries, with an actual guarantee amount of CNY 164.09 million at the end of the reporting period, representing 12.09% of the company's net assets[107]. Compliance and Governance - The company has not experienced any penalties or rectification issues during the reporting period[91]. - The company did not have any violations regarding external guarantees during the reporting period[108]. - The financial report for the first half of 2019 was not audited[137]. - The company has no major litigation or arbitration matters during the reporting period[89]. Miscellaneous - The company has ongoing construction projects, with in-progress projects valued at approximately ¥140.11 million, reflecting an increase of ¥32.19 million from the previous year[61]. - The company has obtained multiple quality system certifications, including IATF16949 and ISO9001, ensuring compliance with international standards[33].