GRKJ(SZ:300600)2021-08-27 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥119,111,021.32, a decrease of 36.35% compared to ¥187,148,754.46 in the same period last year[18]. - The net profit attributable to shareholders was -¥224,789,901.18, representing a decline of 870.87% from ¥29,160,544.34 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥225,391,204.14, a decrease of 1052.17% compared to ¥23,671,413.77 last year[18]. - The basic earnings per share were -¥0.7573, down 878.31% from ¥0.0973 in the same period last year[18]. - The total comprehensive income for the first half of 2021 was -222,039,808.37 CNY, compared to 30,926,447.25 CNY in the same period of 2020[140]. - The company reported a significant drop in cash flow, with cash and cash equivalents nearly halving compared to the previous period[125]. - The company recorded a significant increase in credit impairment losses, amounting to -¥164,249,668.33 compared to -¥3,734,479.29 in the previous year[135]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,452,765,989.52, a decrease of 20.06% from ¥1,817,318,822.01 at the end of the previous year[18]. - The net assets attributable to shareholders decreased by 22.08%, amounting to ¥909,487,196.88 compared to ¥1,167,223,430.06 at the end of the previous year[18]. - The total liabilities decreased to CNY 543,278,792.64 from CNY 650,095,391.95, a decline of about 16.4%[127]. - The company's equity attributable to shareholders decreased from CNY 1,167,223,430.06 to CNY 909,487,196.88, representing a decrease of approximately 22.1%[128]. Cash Flow - The net cash flow from operating activities improved by 60.02%, amounting to -¥58,141,360.43, compared to -¥145,429,385.39 in the previous year[18]. - The total cash inflow from operating activities was 203,157,680.50 CNY, down from 215,188,354.11 CNY in the previous year[142]. - The cash outflow from operating activities totaled 261,299,040.93 CNY, compared to 360,617,739.50 CNY in the first half of 2020[142]. Research and Development - The company applied for 5 invention patents and 4 utility model patents during the reporting period, bringing the total to 64 patents, including 25 invention patents, 28 utility model patents, and 11 design patents[36]. - The company has completed the prototype testing of 2 types of film capacitors for high-speed locomotives, which meet the required standards and have begun trial operation on locomotives[32]. - The company is developing smart detection and maintenance systems in collaboration with CRRC Zhuzhou Institute, with ongoing projects in urban rail transit systems[30]. Market and Business Strategy - The company is focusing on new markets such as large luxury cruise ships, new energy vessels, and unmanned ships, which are expected to have high technical requirements and profit margins[29]. - The company has emphasized the need for continuous investment in technology research and development to mitigate potential risks from technological advancements and competition[5]. - The company operates a direct sales model without distributors, engaging directly with shipowners, shipyards, and design institutes[26]. Corporate Governance and Shareholder Information - The total number of common shareholders at the end of the reporting period was 24,104[110]. - The largest shareholder, Gong Ruiliang, holds 29.67% of the shares, totaling 22,021,875 shares[111]. - Gong Ruiliang has irrevocably waived voting rights for 53,412,848 shares, representing 17.98% of the total shares[112]. Compliance and Audit - The financial report for the first half of 2021 was not audited[123]. - The company's financial statements comply with the accounting standards issued by the Ministry of Finance, accurately reflecting the financial position as of June 30, 2021[173]. - The company has not issued any non-standard audit reports for the reporting period[85]. Risks and Challenges - The company faces risks related to economic cycles, military supply qualifications, and technology advancements that could impact future performance[4][5]. - The company has recognized a provision for bad debts of 148,013,775.40 CNY based on the accounts receivable balance[69]. - The company has also recognized an inventory impairment provision of 98,446,299.51 CNY, reflecting the challenges in liquidating specialized equipment[69].