DAWEI(002213)2019-08-21 16:00Financial Performance - The company's operating revenue for the first half of 2019 was ¥51,191,687.94, a decrease of 4.38% compared to ¥53,538,201.52 in the same period last year[15]. - The net profit attributable to shareholders was a loss of ¥5,425,920.85, representing a decline of 346.25% from a profit of ¥2,203,439.46 in the previous year[15]. - The net cash flow from operating activities was negative at ¥12,389,352.62, a decrease of 150.42% compared to ¥24,569,880.09 in the same period last year[15]. - The basic earnings per share were -¥0.0263, down 345.79% from ¥0.0107 in the previous year[15]. - The company reported a significant increase in non-recurring losses, with a total of ¥6,426.79 from the disposal of non-current assets[19]. - The company achieved operating revenue of 51.19 million yuan, a year-on-year decrease of 4.38% due to a decline in brake speed limiter sales[31]. - Operating costs amounted to 35.47 million yuan, reflecting a year-on-year increase of 4.09% attributed to increased costs from newly established subsidiaries[31]. - The company reported a net loss of 414,948.87 RMB from its subsidiary Terjia Information, indicating challenges in its software development and sales operations[55]. - The company reported a significant increase in cash flow, indicating improved liquidity and financial health[124]. Assets and Liabilities - Total assets at the end of the reporting period were ¥406,717,460.25, a decrease of 4.94% from ¥427,845,430.67 at the end of the previous year[15]. - The net assets attributable to shareholders were ¥361,626,765.21, down 1.48% from ¥367,052,686.06 at the end of the previous year[15]. - Total cash and cash equivalents increased significantly to 219,856,871.76 RMB, accounting for 54.06% of total assets, due to the maturity of wealth management products and recovery of previous restructuring deposits[45]. - Accounts receivable increased slightly by 0.50% to 38,131,668.12 RMB, representing 9.38% of total assets[45]. - Inventory decreased marginally by 0.04% to 29,656,494.55 RMB, maintaining a stable proportion of 7.29% of total assets[45]. - Total liabilities decreased from CNY 58,552,865.22 to CNY 42,387,666.26, a decline of approximately 27.7%[122]. Dividends and Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The total number of shares remained at 206 million, with no changes in the number of restricted shares[100]. - The largest shareholder, Shenzhen Chuangtong Jiali Investment Partnership, holds 14.56% of the shares, totaling 30,000,913 shares[104]. - The second-largest shareholder, Ling Zhaowei, holds 8.83% of the shares, totaling 18,179,602 shares, with 18,179,000 shares pledged[104]. Research and Development - The company has developed liquid retarders with specifications of 2500Nm, 3200Nm, and 4000Nm, applicable to various vehicle types[26]. - The company has established nearly 120 sales outlets across the country, enhancing its market presence[26]. - The company has received recognition as a national high-tech enterprise and has been involved in setting industry standards[27]. - The company is focusing on the development of vehicle networking and technology applications, alongside automotive parts sales[31]. Market and Competition - The company faces various risks and uncertainties, which are detailed in the report[4]. - The company faces significant market competition in the smart hardware sector, which may impact its revenue[60]. - The company is actively expanding its new business sectors, contributing significantly to revenue in the first half of 2019[32]. Organizational Structure and Management - The company is optimizing its organizational structure to support its strategic development and has engaged professional human resources consultants to enhance management practices[33]. - The company appointed a new CFO, Ms. Zhong Xiaohua, following the resignation of the previous CFO, Mr. Mei Feng[95]. Investments and Subsidiaries - The company established a new subsidiary, Terjia Leisa, with a registered capital of 1 million RMB, aiming to leverage opportunities in the automotive electronics and IoT sectors[56]. - The company did not engage in any significant equity investments during the reporting period, maintaining a conservative investment strategy[48]. - The total investment amount for the reporting period was 350,000.00 RMB, reflecting a 100% increase compared to the previous year[48]. Legal and Compliance - The company has not encountered any major litigation or arbitration matters during the reporting period[70]. - The company did not engage in any related party transactions during the reporting period[75]. Financial Reporting and Standards - The financial report for the first half of 2019 was not audited[117]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that the financial reports accurately reflect the financial status as of June 30, 2019[160]. - The company’s accounting period follows the calendar year, from January 1 to December 31[161].