Financial Performance - For the six months ended June 30, 2022, the company reported revenue of RMB 23,341,000, a decrease of 32.5% compared to RMB 34,819,000 for the same period in 2021[4] - Gross profit for the same period was RMB 5,709,000, down 33.5% from RMB 8,559,000 in the prior year[4] - The company recorded a net loss attributable to owners of the company of RMB 163,000 for the six months ended June 30, 2022, compared to a profit of RMB 579,000 in the same period of 2021[4] - The company reported a pre-tax profit of RMB 5,202,000 for the six months ended June 30, 2022, compared to RMB 6,111,000 for the same period in 2021, reflecting a decrease of 14.9%[21] - The group recorded a net loss of approximately RMB 163,000 for the six months ended June 30, 2022, compared to a net profit of approximately RMB 579,000 for the same period in 2021[65] Cash Flow and Assets - Operating cash flow for the six months ended June 30, 2022, was RMB 1,832,000, a significant improvement from a cash outflow of RMB 6,972,000 in the prior year[10] - Total assets as of June 30, 2022, were RMB 78,512,000, slightly down from RMB 78,667,000 as of December 31, 2021[6] - The company had cash and cash equivalents of RMB 9,566,000 at the end of the reporting period, an increase from RMB 8,220,000 at the beginning of the period[10] - Total assets as of June 30, 2022, were approximately RMB 107.9 million, a slight decrease from RMB 110.6 million as of December 31, 2021[66] - Total liabilities as of June 30, 2022, were approximately RMB 39.8 million, down from RMB 42.3 million as of December 31, 2021[66] Expenses - The company’s administrative expenses increased to RMB 5,668,000 for the six months ended June 30, 2022, compared to RMB 4,540,000 in the same period of 2021, reflecting a rise of 24.8%[4] - The company incurred research and development costs of RMB 1,223,000 for the six months ended June 30, 2022, compared to RMB 1,472,000 for the same period in 2021, indicating a decrease of 16.9%[21] - The company’s distribution costs decreased to RMB 801,000 for the six months ended June 30, 2022, down from RMB 2,140,000 in the prior year, a reduction of 62.6%[4] Revenue Breakdown - For the six months ended June 30, 2022, the total revenue from the sale of fiberglass products was RMB 23,341,000, a decrease of 32.9% compared to RMB 34,819,000 for the same period in 2021[18] - Revenue from fiberglass grating products was RMB 9,279,000 for the six months ended June 30, 2022, down 53.0% from RMB 19,730,000 in the same period of 2021[18] - Domestic market sales decreased by approximately 21.0% to about RMB 17.9 million, accounting for approximately 76.6% of total sales for the six months ended June 30, 2022, an increase of 11.6 percentage points from 65.0% in the same period of 2021[52] - Sales to the Chinese market decreased by approximately 21.0% from RMB 22.6 million to RMB 17.9 million, primarily due to a significant reduction in sales of fiberglass grating products[60] - Sales to the US market decreased by approximately 76.6% from RMB 5.6 million to RMB 1.3 million, mainly due to increased tariffs and adverse impacts from the COVID-19 pandemic[61] Market Conditions - The overall economic impact of COVID-19 lockdowns in major cities, particularly Shanghai, resulted in a GDP growth of only 2.5% in the first half of 2022, down from 12.7% in the same period of 2021[49] - The management expects steady growth in the overall fiberglass market in China, driven by its potential applications in various industries[47] - The company is closely monitoring the developments of the COVID-19 pandemic and may adjust strategies to explore new revenue sources to mitigate business risks[51] Shareholder Information - Mr. Li holds 163,600,000 shares, representing 40.9% of the company's equity, through controlled corporations[78] - Major shareholders include LFS and LFB, each holding 123,600,000 shares, accounting for 30.9% of the company's equity[84] Corporate Governance - The company has adopted the GEM Listing Rules as a code of conduct for directors trading in the company's securities, and confirmed compliance during the reporting period[93] - The company has complied with all applicable corporate governance code provisions as of June 30, 2022[94] - The audit committee was established on December 16, 2016, and consists of three independent non-executive directors[95] - The main responsibilities of the audit committee include reviewing financial reporting procedures and internal controls, as well as risk management systems[97]
硅鑫集团(08349) - 2022 Q2 - 季度业绩