JINXD(SZ:300830)2022-08-25 16:00Financial Performance - The company's operating revenue for the first half of 2022 was ¥125,520,933.61, a decrease of 32.16% compared to ¥185,016,014.56 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was -¥45,429,794.43, representing a decline of 370.81% from ¥16,775,494.13 in the previous year[20]. - The net cash flow from operating activities was -¥90,933,203.72, which is a 98.03% decrease compared to -¥45,919,644.61 in the same period last year[20]. - The total assets at the end of the reporting period were ¥1,230,361,831.45, down 6.46% from ¥1,315,396,174.03 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company decreased by 4.67% to ¥1,129,118,973.87 from ¥1,184,420,945.23 at the end of the previous year[20]. - The basic earnings per share for the reporting period was -¥0.11, a decline of 375.00% compared to ¥0.04 in the same period last year[20]. - The diluted earnings per share also stood at -¥0.11, reflecting the same percentage decline as the basic earnings per share[20]. - The weighted average return on net assets was -3.91%, a decrease of 5.41% from 1.50% in the previous year[20]. - The company's revenue for the first half of 2022 was approximately ¥125.52 million, a decrease of 32.16% compared to ¥185.02 million in the same period last year, primarily due to project delays caused by recurring domestic COVID-19 outbreaks[61]. - The net profit attributable to the parent company for the first half of 2022 was -¥45.43 million, with a non-recurring net profit of -¥52.37 million, reflecting a significant decline due to reduced revenue and increased management and R&D expenses[61]. - The company's management expenses increased by 49.12% to ¥39.93 million, largely due to stock payment expenses exceeding ¥11.6 million related to equity incentives[63]. - The total revenue from software development and implementation was ¥114,837,068.51, a decrease of 34.70% year-on-year, with a gross margin of 43.97%[66]. - The company's total liabilities included contract liabilities of ¥24,431,864.58, which increased by 1.13% compared to the previous year[74]. - The company reported a significant increase in financing costs, with cash outflows related to debt repayment and interest payments totaling 23,837,302.90 CNY[193]. Research and Development - The company maintains a high level of R&D investment, focusing on both forward-looking technologies and product development to address user pain points[39]. - The low-code development platform has achieved multiple technological breakthroughs, holding 11 invention patents and 17 core technologies, focusing on key areas such as UI visualization and runtime engines[58]. - Research and development expenses surged to CNY 53,371,893.58, compared to CNY 26,823,756.71 in the same period last year, indicating a growth of 98.8%[181]. - The company has established research collaborations with universities like Shandong University to enhance its technology and product development capabilities[40]. - The company has invested heavily in R&D, particularly in the development of its low-code platform, to enhance its core competitiveness and support digital transformation[61]. - R&D investment increased by 98.97% to ¥53,371,893.58, reflecting the company's focus on enhancing its low-code platform and other product developments[64]. Market and Industry Trends - The software and information technology service industry in China achieved a total revenue of 949.94 billion yuan in 2021, representing a year-on-year growth of 17.7% and a two-year compound growth rate of 15.5%[43]. - The digital economy is emphasized in the "14th Five-Year Plan," with a focus on accelerating digital development and enhancing key technology innovation capabilities[43]. - The demand for IT solutions in the power sector is expected to grow significantly due to the transition to a new power system, driven by the dual carbon goals of carbon peak and carbon neutrality[45]. - The railway sector aims to expand its high-speed rail network to approximately 38,000 kilometers by 2025, enhancing its operational capabilities and service quality[48]. - The aPaaS market is rapidly growing, providing low-code/zero-code solutions that lower the barriers for application development and significantly shorten development cycles[52]. - The integration of new technologies such as AI, blockchain, and big data is driving the digital transformation in the power industry, leading to innovative applications in smart energy and digital marketing[46]. Strategic Initiatives - The company focuses on industry digital solutions and application software development platforms, primarily serving large state-owned enterprises in the energy sector, including State Grid and Southern Power Grid[29]. - The company aims to expand its services into other industries such as railways and petrochemicals, leveraging over 20 years of experience in the energy sector[32]. - The company is actively pursuing the digital transformation of medium and large enterprises, establishing new partnerships with companies like Shandong Energy and Zhongtai Securities[34]. - The company is transitioning from a single industry digital solution provider to a dual-driven model, combining industry solutions with standard software product offerings[60]. - The company has developed the "Light Cavalry" low-code development platform, which is designed for rapid application development and agile iteration, catering to both large enterprises and small to medium-sized enterprises[35]. - The "Light Cavalry" platform has achieved compatibility with 15 domestic IT vendors' hardware and software ecosystems, meeting the demand for self-controllable software solutions[36]. - The company has been awarded multiple accolades for the "Light Cavalry" platform, including recognition as a leading product in the low-code market[37]. Financial Management and Capital Structure - The total amount of raised funds is RMB 378,510,000, with a net amount of RMB 332,728,200 after deducting issuance expenses of RMB 45,781,800[86]. - As of June 30, 2022, the cumulative amount of raised funds used is RMB 207,944,061.13, leaving a balance of RMB 124,784,138.87[86]. - The total amount of raised funds invested during the reporting period is RMB 5,939,720[84]. - The cumulative investment in the committed projects is RMB 20,794,410, representing 62.4% of the total raised funds[84]. - The company has not changed the purpose of the raised funds, with a change ratio of 0.00%[84]. - The balance of the special account for raised funds is RMB 43,211,166.53[86]. - The company has received bank interest of RMB 1,002,822.45 from the raised funds[86]. - The company pre-invested 53.3288 million CNY in fundraising projects before the funds were in place[91]. - The total amount of entrusted financial management during the reporting period was 441 million CNY, with an outstanding balance of 240 million CNY[95]. Risks and Challenges - The company has recognized the risk of rising labor costs and aims to improve project management and efficiency to mitigate this risk[102]. - The company faces seasonal revenue fluctuations, with higher income expected in the second half of the year due to project approval cycles[105]. - The company has a high customer concentration risk, with significant reliance on State Grid Corporation for revenue[100]. - The report highlights potential risks and the company's strategies to address them, which are detailed in the management discussion section[3]. Corporate Governance and Compliance - The company has not experienced any major litigation or arbitration matters during the reporting period[126]. - There were no significant related party transactions during the reporting period[132]. - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[127]. - The company reported no significant environmental penalties or issues during the reporting period[116]. - The company has implemented a stock incentive plan, with the conditions for granting reserved stock having been met[112]. - The company has not made any significant guarantees during the reporting period[136]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[121]. - The company did not issue any preferred shares during the reporting period[165]. - The financial report for the first half of 2022 was not audited[170].