*ST美尚(300495) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the current period is ¥178,845,099.39, a decrease of 64.69% compared to ¥506,570,708.40 in the same period last year[26]. - The net profit attributable to shareholders for the current period is ¥13,842,820.78, down 65.30% from ¥39,890,243.55 in the previous year[26]. - The net cash flow from operating activities is ¥81,253,530.67, representing a decline of 53.78% from ¥175,794,344.38 in the same period last year[26]. - The total assets at the end of the current period amount to ¥7,151,417,409.03, a decrease of 2.36% from ¥7,324,147,228.06 at the end of the previous year[26]. - The company reported non-recurring losses of ¥4,441,228.17 during the current period[31]. - The weighted average return on net assets is 0.58%, down from 0.98% in the previous year[26]. - The company's operating revenue for the reporting period was ¥178,845,099.39, a decrease of 64.69% compared to ¥506,570,708.40 in the same period last year[54]. - Operating costs also fell by 64.93% to ¥124,912,434.32 from ¥356,196,233.84, primarily due to the impact of delisting risk warnings affecting normal operating loans[54]. - The net cash flow from financing activities increased significantly by 246.33% to ¥207,777,616.48, compared to a negative flow of ¥141,992,862.29 in the previous year[55]. - The company reported a credit impairment loss of ¥79,018,963.78, which is an increase of 208.87% from ¥25,583,483.77, primarily due to a reduction in receivables[55]. Goodwill and Impairment Risks - The company reported a goodwill amount of 57.3789 million yuan, indicating a risk of impairment that could adversely affect current profits[10]. - The company has identified significant impairment indicators for goodwill related to its acquisition of Chongqing Jindian Landscape Co., Ltd., leading to a full impairment provision in the 2020 annual report[10]. - The company is committed to strengthening internal controls and management of acquired subsidiaries to mitigate goodwill impairment risks[10]. - The company recognizes the risk of intensified market competition due to increased investment in the ecological landscape construction industry, which may affect project acquisition[7]. - The company is committed to resource integration and collaboration among subsidiaries to mitigate goodwill impairment risks[81]. Strategic Focus and Business Development - The company aims to enhance its core competitiveness through continuous R&D innovation and the introduction of new products, while exploring innovative business models[7]. - The company is facing operational management challenges due to its expanding business model, necessitating the optimization of management systems and the adoption of a "360-degree refined management" approach[9]. - The company is strategically focusing on economically developed regions, leveraging national strategies for integrated development in the Yangtze River Economic Belt[40]. - The company aims to contribute to carbon peak and carbon neutrality goals through green transformation and the promotion of low-carbon technologies[44]. - The company is actively participating in the ecological civilization construction, aligning with national policies for sustainable development and environmental protection[39]. Research and Development - The company has over 35 national patents and 14 specialized technologies, establishing a leading advantage in water ecological restoration business[40]. - The company has accumulated 117 patents, including 30 invention patents, enhancing its competitive edge in ecological restoration and product innovation[49]. - The company has developed innovative ecological products, such as the wood mulch organic covering, which has passed various certifications and aligns with international standards[50]. - Research and development expenses increased by 20.51% to ¥11,172,168.27 from ¥9,271,030.16, indicating a focus on innovation despite overall revenue decline[55]. - The company has invested 1,000 million in research and development for new technologies aimed at improving operational efficiency[139]. Market Opportunities and Challenges - The company is positioned to benefit from new opportunities arising from accelerated infrastructure construction and public health service investments by the government[6]. - The ecological tourism sector is expected to grow significantly, supported by the comprehensive rural revitalization strategy initiated by the government[44]. - The company is enhancing its management efficiency through "360-degree refined management" and "Internet+ management" models[80]. - The company faces macroeconomic risks due to uneven global economic recovery, with inflation and supply-demand gaps affecting performance[78]. - Infrastructure investment growth is weak, with a two-year average increase of 2.6% from January to May, impacted by strict project reviews and local government financial constraints[78]. Corporate Governance and Compliance - The company is committed to integrating economic and social benefits in its operations, adhering to legal business practices[94]. - The company is actively implementing measures to prevent the misuse of funds by controlling shareholders and related parties, enhancing internal control systems[101]. - The company has established a dynamic tracking and analysis system for large fund usage to prevent any illegal occupation of company assets[101]. - The company has committed to ensuring that the board of directors and management operate independently according to laws and regulations[106]. - The company has outlined specific measures to ensure that any related party transactions are conducted at fair market value, safeguarding shareholder interests[100]. Shareholder and Capital Management - The company plans to not distribute cash dividends or issue bonus shares, nor will it increase capital using reserves[11]. - The company has not sold any significant assets during the reporting period[74]. - The company has not engaged in any entrusted financial management, derivative investments, or entrusted loans during the reporting period[71][72][73]. - The company has committed to avoiding any business activities that may directly or indirectly compete with its main operations, ensuring compliance with competitive regulations[99]. - The company has a total of 201,176,914 shares pledged, with 189,912,245 shares frozen[162]. Contracts and Project Management - The company confirmed significant contracts totaling CNY 1.64 billion, with a performance completion rate of 97.04%[147]. - The company has a contract with the Luzhou Urban Construction Investment Group amounting to CNY 1.24 billion, with a performance completion rate of 31.29%[147]. - The company has a contract with the Chen Barhu Flag Agricultural Bureau for CNY 856 million, with a performance completion rate of 90.14%[147]. - The company has a contract with the Chongqing Jindian Garden Company for CNY 600 million, with a performance completion rate of 83.61%[147]. - The company has a contract with the Sichuan Tongrong Investment Company for CNY 429.5 million, with a performance completion rate of 94.57%[147].