Fushine(SZ:300497)2019-07-29 16:00Financial Performance - Total revenue for the reporting period was ¥592,360,037.02, a decrease of 4.74% compared to ¥621,862,380.77 in the same period last year[20]. - Net profit attributable to shareholders was ¥114,195,098.19, down 13.49% from ¥132,002,979.30 year-on-year[20]. - Net profit after deducting non-recurring gains and losses was ¥106,015,214.48, a decline of 18.05% compared to ¥129,363,260.53 in the previous year[20]. - Basic earnings per share decreased by 12.00% to ¥0.44 from ¥0.50 year-on-year[20]. - Diluted earnings per share fell by 16.33% to ¥0.41 from ¥0.49 in the previous year[20]. - The weighted average return on net assets was 9.75%, down 3.28% from 13.03% in the previous year[20]. - The company reported a net profit of 5,115,294.3 for the first half of 2019, indicating a strong performance in its pharmaceutical segment[70]. - The net profit for the first half of 2019 was CNY 116,624,004.49, down from CNY 132,078,846.14 in the previous year, representing a decline of approximately 11.7%[152]. - The total profit for the first half of 2019 was CNY 138,563,614.67, down from CNY 153,870,250.41 in the previous year, indicating a decline of about 9.9%[152]. Cash Flow and Liquidity - Operating cash flow net amount increased by 29.96% to ¥88,506,506.36 from ¥68,104,852.98 in the same period last year[20]. - The company reported a significant increase in net cash flow from operating activities, amounting to ¥88,506,506.36, a 29.96% increase year-on-year[43]. - The company’s cash and cash equivalents increased by 27.67% to ¥58,694,124.18, reflecting improved liquidity[43]. - The cash inflow from operating activities for the first half of 2019 was CNY 380,864,011.71, slightly up from CNY 375,476,929.59 in the previous year[159]. - The total cash inflow from financing activities reached CNY 683,700,000.00, up from CNY 355,000,000.00 in the previous year, marking a 92.3% increase[161]. - The net increase in cash and cash equivalents for the first half of 2019 was CNY 58,694,124.18, compared to CNY 45,974,692.40 in the same period of 2018, showing an increase of 27.5%[161]. Investment and R&D - The company acknowledges the long R&D cycles in pharmaceuticals and plans to increase R&D investment while conducting thorough market research to guide product development[7]. - The R&D team consists of 177 members, accounting for 16% of the total workforce, with a strong emphasis on innovation and quality control[32]. - The company reported a total investment amount for the reporting period of RMB 151.55 million, representing a significant increase of 96.91% year-on-year[52]. - The company has set a performance guidance for the next quarter, aiming for a revenue increase of 20%[170]. - The R&D expenses for new technologies were reported at 412.12 million yuan, highlighting the company's commitment to innovation[170]. Market Expansion and Competition - The company is actively expanding into international markets, with foreign sales accounting for a significant portion of total revenue, exposing it to exchange rate risks[7]. - The company recognizes the competitive risks in the antibiotic market and the need for continuous product line expansion to capture future market growth[6]. - The company is focusing on the development of sterile raw materials and formulations, aiming to enhance its product portfolio and sustainable growth capabilities[70]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its product offerings[170]. - The company plans to continue expanding its market presence, although specific strategies were not detailed in the report[175]. Environmental Commitment - The company is committed to increasing investment in environmental protection and improving management practices to comply with stricter environmental regulations[7]. - The company aims to avoid potential operational risks related to environmental accidents by adhering to strict operational protocols[7]. - The company has completed the upgrade of its wastewater treatment facilities and is currently in trial operation[91]. - The company has introduced advanced recycling devices to enhance the recovery and comprehensive utilization of industrial solid waste[91]. - The company has established an emergency response plan for environmental incidents, which has been reviewed by experts[93]. Shareholder and Capital Management - The company will not distribute cash dividends or issue bonus shares for the reporting period[8]. - The company has implemented an employee stock incentive plan, granting 3.12 million restricted stocks to 227 incentive objects as of May 16, 2016[78]. - The company has approved a total external guarantee amount of CNY 33 million during the reporting period, with an actual guarantee amount of CNY 3 million[88]. - The company has not reported any issues in the use and disclosure of raised funds[63]. - The company plans to use no more than 50% of the repurchased shares for implementing an equity incentive plan[47]. Financial Health and Ratios - The current ratio increased to 1.81 from 1.30, and the quick ratio rose to 1.57 from 1.08, indicating improved liquidity due to the issuance of convertible bonds and business growth[130]. - The debt-to-asset ratio rose to 50.58% from 47.79%, reflecting a trend of increasing leverage[131]. - The interest coverage ratio decreased to 9.52 from 10.44, suggesting a decline in the ability to cover interest expenses[132]. - The company maintains a stable AA- credit rating with a stable outlook, indicating solid financial health[138]. - The total liabilities increased to CNY 1.29 billion from CNY 1.05 billion, marking a rise of 22.49%[149]. Compliance and Governance - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect a true and complete picture of its financial status[184]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[115]. - The financial statements for the first half of 2019 were approved by the board of directors on July 29, 2019[180]. - The company has a total of six subsidiaries included in the consolidated financial statements, enhancing its operational capacity[181]. - The company is committed to maintaining compliance with relevant regulations and standards in its financial reporting and operational practices[184].