[0 -> 22] 大家好欢迎参加三松国际2023年中期业绩发表会目前所有参会者均处于静音发牌下面开始播报免责声明本次会议仅服务于参会的广大投资者 [23 -> 41] 关于音频及文字记录的内容仅供参会者内部使用不得公开发布深松国际未授权任何媒体转发本次会议相关内容未经允许和授权的转载转发均属侵权深松国际将保留追究其法律责任的权利 [41 -> 66] 森松国际不承担因转载转发而产生的任何损失和责任市场有风险投资需谨慎提醒广大投资者谨慎做出投资决策在主讲嘉宾发言结束后将留体问时间有请现场主持人诸位投资人诸位券商的分析师老师大家晚上好我是森松国际的邵叶 [66 -> 95] 非常感谢诸位在百忙之中抽出时间参加我们今天的业绩交流会也非常感谢大家对森松国际的关注特别是感谢我们的券商合作伙伴在各种场合对森松国际的推荐和支持从今年开始是公司上市的第三年我们也请诸位给予我们更多的关注和教育让森松国际始终有机会和大家保持沟通也欢迎诸位共同见证我们的发展与成长 [96 -> 124] 首先请允许我向诸位介绍今天与会的管理层成员首先是执行董事森松国际高级副总裁材料与能源板块负责人盛燕盛总森松国际副总高级副总裁陆伟峰陆总森松国际 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 Morimatsu International Holdings Company Limited 森松國際控股有限公司 （於 香 港 註 冊 成 立 的 有 限 公 司） （股 份 代 號：2155） 截至2023年6月30日止六個月的中期業績公告 森松國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然向本公司 股東公布本公司及其附屬公司（統稱「本集團」）截至2023年6月30日止六個月（「中 期期間」或「報告期」）的未經審核綜合中期業績。 | --- | --- | --- | |------------------------------------------|-------------------------------------------|-------------------------------------| | | | | | | | | | | 截至 6 月 30 ...

Financial Performance - The company's sales revenue reached approximately RMB 6.486 billion, representing a year-on-year growth of about 51.33%[7] - Gross profit amounted to approximately RMB 1.793 billion, with a year-on-year increase of approximately 51.52%[7] - Net profit was approximately RMB 666 million, reflecting a year-on-year growth of approximately 74.47%[7] - Revenue for 2022 reached RMB 6,486,277 thousand, a significant increase of 51.5% compared to RMB 4,286,222 thousand in 2021[28] - Net profit attributable to equity shareholders for 2022 was RMB 669,266 thousand, an increase of 75.2% compared to RMB 381,838 thousand in 2021[28] - The adjusted EBITDA for the reporting period was approximately RMB 890,682 thousand, an increase of about RMB 325,733 thousand or 57.7% compared to RMB 564,949 thousand for the year ended December 31, 2021[103] Orders and Market Demand - New signed orders totaled approximately RMB 9.356 billion, marking a year-on-year increase of approximately 40.60%[7] - The amount of orders on hand reached approximately RMB 8.622 billion, which is a year-on-year growth of approximately 50.73%[7] - New orders from the pharmaceutical and biopharmaceutical sectors accounted for over 50% of the total new orders, with new orders amounting to RMB 2,751,894 thousand[37] - The company has seen a notable increase in new orders in the electronic chemicals and daily chemicals sectors due to rising market demand for photovoltaic materials[40] - The company expects significant improvement in market supply and demand relationships in 2023, along with growth in overseas business and deeper global strategies[35] Strategic Focus and Development - The company has diversified its market distribution both domestically and internationally, enhancing its resilience against market fluctuations[8] - The strategic focus on capital expenditure projects aligns with the increasing demand from downstream industries[8] - The company aims to leverage existing domestic capacity and develop overseas capacity to achieve new heights in revenue and profit[13] - The company is focusing on balanced development in both Chinese and overseas markets by establishing technical and engineering centers abroad[78] - The company plans to avoid reliance on a single market or customer by operating across multiple sectors and focusing on high-return areas for resource allocation[80] Research and Development - The company is investing in R&D, with a budget increase of 25% for new technology development[20] - The group has initiated multiple projects in advanced biopharmaceuticals, microchannel reactors, ultra-high pressure industrial equipment, and lithium battery materials through collaborations with universities and joint ventures[13] - The company continues to support internal entrepreneurial teams, facilitating the development of new products and technologies in various fields, including new materials and biopharmaceuticals[76] - The company is focusing on R&D in non-traditional energy, semiconductor materials, and biodegradable materials, with several internal incubation platforms established to support new product development[68] Manufacturing and Capacity Expansion - New production capacity at the Nantong manufacturing base was completed and put into operation by June 30, 2022, with utilization rates approaching 100% and contributing to sales revenue[9] - The Changshu manufacturing base is scheduled to be operational by Q4 2023, which is expected to elevate the overall scale of the group[9] - The expansion project in Nantong, Jiangsu Province, has a total construction area of approximately 38,000 square meters and has already started contributing to sales revenue[66] - The new biopharmaceutical high-end equipment manufacturing base in Changshu, China, is under construction and will focus on high-end intelligent equipment for the biopharmaceutical and electronic chemical industries[66] Corporate Governance and Management - The management team has emphasized the importance of maintaining strong corporate governance practices moving forward[19] - The board of directors consists of 9 members, including 5 executive directors and 4 non-executive directors, ensuring a diverse governance structure[188] - The company has adopted the corporate governance code as the basis for its governance practices, ensuring compliance with applicable standards[186] - Independent non-executive directors play a crucial role in monitoring the company's corporate actions and operations, ensuring balance within the board[191] Sustainability and Social Responsibility - The group is committed to exploring renewable resources and biodegradable materials, focusing on non-traditional sustainable energy technologies as a key direction for future development[14] - The group actively participates in social welfare and charity activities, recognizing the importance of community support for corporate development[14] - Charitable donations made by the group during the reporting period totaled approximately RMB 1.091 million[175] Market Expansion and Acquisitions - Market expansion plans include entering two new international markets by Q3 2024[21] - The company is considering strategic acquisitions to enhance its product offerings and market presence[16] - The acquisition of Morimatsu Houston was completed for a total consideration of USD 1,295 thousand, aimed at expanding into the North American market[110] Employee Development and Talent Management - The group has established a comprehensive talent development system to ensure that professional engineers are engaged with clients globally, enhancing innovation and sustainable growth[11] - The company is investing in talent development, with a total workforce of 4,142, including over 521 R&D personnel[76] - The group has established a comprehensive compensation and benefits system, ensuring competitive market salaries to attract and retain high-quality employees[126]

Financial Performance - Revenue for the year ended December 31, 2022, was RMB 6,486,277,000, an increase of 51.3% from RMB 4,286,222,000 in 2021[2] - Gross profit for the same period was RMB 1,793,386,000, with a gross margin of 27.6%, consistent with the previous year's margin[2] - Net profit for 2022 was RMB 666,182,000, representing a 74.5% increase from RMB 381,838,000 in 2021, resulting in a net profit margin of 10.3%[2] - Adjusted EBITDA for 2022 was RMB 1,030,069,000, up from RMB 653,554,000 in 2021[2] - Basic earnings per share increased to RMB 0.64 in 2022 from RMB 0.43 in 2021[5] - The company reported a pre-tax profit of RMB 760,917,000 for 2022, compared to RMB 449,143,000 in 2021, reflecting a growth of 69.2%[33] - The net profit margin improved to approximately 10.3% for the year ended December 31, 2022, compared to approximately 8.9% for the year ended December 31, 2021, an increase of approximately 1.4 percentage points[106] Assets and Liabilities - Total assets as of December 31, 2022, were RMB 5,834,547,000, an increase from RMB 4,310,174,000 in 2021[8] - The company's total equity increased to RMB 2,822,646,000 in 2022 from RMB 2,007,809,000 in 2021[10] - The company reported a net current asset of RMB 955,141,000 as of December 31, 2022, compared to RMB 619,837,000 in 2021[8] - Total borrowings increased from approximately RMB 370,002 thousand as of December 31, 2021, to approximately RMB 444,233 thousand as of December 31, 2022, reflecting a rise of approximately 20%[116] - The company's debt-to-equity ratio decreased from approximately 18.4% as of December 31, 2021, to about 15.7% as of December 31, 2022, primarily due to increased profits leading to higher reserves[117] Revenue Breakdown - Revenue from traditional pressure equipment reached RMB 2,662,892,000, up from RMB 2,221,045,000 in the previous year, indicating a growth of about 19.9%[19] - Revenue from the North American market increased significantly to RMB 515,899,000 in 2022 from RMB 117,248,000 in 2021, marking a growth of about 340.5%[24] - Modular pressure equipment sales surged to RMB 3,648,656,000 in 2022, compared to RMB 1,925,440,000 in 2021, showing an increase of approximately 89.5%[19] - Revenue from the European market rose to RMB 455,127,000 in 2022, up from RMB 215,157,000 in 2021, representing a growth of about 111.8%[24] Costs and Expenses - Employee costs, including salaries and benefits, increased to RMB 1,085,516,000 in 2022 from RMB 788,581,000 in 2021, reflecting a growth of 37.7%[28] - Research and development costs rose to RMB 316,084,000 in 2022, up from RMB 226,628,000 in 2021, an increase of 39.5%[30] - Sales and marketing expenses increased from approximately RMB 106,559 thousand for the year ended December 31, 2021, to approximately RMB 184,460 thousand for the year ended December 31, 2022, representing a growth of approximately 73%[100] - General and administrative expenses rose from approximately RMB 381,500 thousand for the year ended December 31, 2021, to approximately RMB 510,448 thousand for the year ended December 31, 2022, an increase of approximately 33.9%[101] Contracts and Orders - The total value of contracts remaining to be fulfilled as of December 31, 2022, was RMB 8,621,816,000, compared to RMB 5,720,026,000 in 2021[2] - The remaining performance obligations under existing customer contracts amounted to RMB 8,621,816,000 as of December 31, 2022, compared to RMB 5,720,026,000 at the end of 2021, reflecting an increase of approximately 50.5%[22] - New orders in the pharmaceutical and biopharmaceutical sectors accounted for over 29.4% of total new orders, indicating strong demand in these areas[71] - The total new order amount for electronic chemicals reached RMB 1,980.6 million, representing 21.2% of the total new orders[72] Market and Growth Outlook - The company expects significant growth in overseas business and overall market demand in 2023, driven by post-pandemic recovery[69] - The company continues to see stable growth in the pharmaceutical sector, with demand for new projects in antibodies, vaccines, and recombinant proteins[74] - The electronic chemicals and daily chemicals sectors have shown notable increases in new orders, particularly due to rising demand for photovoltaic materials since the Russia-Ukraine conflict[74] - The company is committed to enhancing its competitive position in traditional industries and advancing research in cutting-edge technologies such as renewable energy and artificial intelligence[75] Corporate Governance and Compliance - The company has complied with the corporate governance code and has not deviated from its provisions during the reporting period[123] - The audit committee consists of one non-executive director and two independent non-executive directors, with the chair being Ms. Chen Yuanxiu[125] - The company has appointed KPMG as its auditor for the reporting period and will propose the reappointment at the upcoming annual general meeting[126] Subsidiaries and Acquisitions - The company completed the acquisition of Morimatsu Houston Corporation in February 2022, which was accounted for as a business combination under common control[2] - The company established a new subsidiary, Shanghai Sensong Biotechnology Co., Ltd., with a registered capital of RMB 50 million, holding a 72.25% stake[120] - A new subsidiary, Shanghai Senzhong Biotechnology Co., Ltd., was established with a registered capital of RMB 41.3 million, with Sensong Biotechnology holding a 59.32% stake[120] Dividends - No dividends were declared or approved for the years ended December 31, 2022, and 2021[64] - The company did not recommend any final dividend for the reporting period[122]

Financial Performance - Morimatsu International Holdings reported a revenue of HKD 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[1]. - The company reported a revenue of ¥X million for the first half of 2022, representing a Y% increase compared to the same period last year[10]. - The company's revenue for the reporting period was approximately RMB 2,964,865 thousand, representing a year-on-year growth of about 59.8%[18]. - The group achieved a revenue increase from approximately RMB 1,855,673 thousand for the six months ended June 30, 2021, to approximately RMB 2,964,865 thousand for the six months ended June 30, 2022, representing a growth of about 59.8%[51]. - The company reported a total comprehensive income of RMB 304,650,000 for the period, compared to RMB 141,261,000 in 2021, showing a substantial increase[103]. - The net profit for the reporting period was approximately RMB 302,536 thousand, reflecting a year-on-year increase of approximately 111.8%[18]. - The net profit for the period was RMB 302,536,000, significantly higher than RMB 142,843,000 in the previous year, marking a year-over-year increase of 112%[101]. - The company reported a total comprehensive income for the period of RMB 304,786,000, which includes both profit and other comprehensive income[110]. Operational Efficiency - The company achieved a gross profit margin of 30%, up from 28% in the previous year, indicating improved operational efficiency[1]. - The gross margin improved to G%, reflecting better cost management and operational efficiencies[11]. - The company is implementing digital operation and maintenance strategies using IoT technology to improve efficiency and reduce costs by 15%[1]. - The company aims to reduce operational costs by H% through the implementation of modular manufacturing techniques[12]. Market Expansion and Strategy - The company has set a target to expand its market presence in Southeast Asia, aiming for a 25% revenue contribution from this region by 2025[1]. - The company is expanding its market presence in Europe, targeting a D% increase in market share by 2025[11]. - The company is committed to becoming a global leader in core equipment and digital engineering solutions[14]. - The company is focusing on market diversification and exploring emerging industries to ensure sustainable growth amid market risks[70]. Research and Development - Morimatsu is investing HKD 200 million in R&D for new biopharmaceutical technologies, with expected completion by Q4 2023[1]. - The company plans to invest ¥F million in R&D for innovative solutions in the energy sector over the next two years[10]. - Research and development expenses rose by approximately 87.9% to RMB 145,505 thousand for the six months ended June 30, 2022, accounting for about 4.9% of the group's revenue, up from 4.2% in the same period of 2021[57]. - The company emphasizes talent investment and development, establishing six internal entrepreneurial teams focused on new materials, biopharmaceuticals, and advanced equipment[48]. Strategic Acquisitions - Morimatsu is exploring strategic acquisitions to enhance its capabilities in the biopharmaceutical sector, with a budget of HKD 500 million allocated for potential deals[1]. - A strategic acquisition was completed, enhancing the company's capabilities in the biotechnology sector, valued at ¥E million[12]. - The group completed the acquisition of Morimatsu Houston, enhancing its operational capabilities and aligning with its strategic growth objectives[51]. Product Development - The company plans to launch two new products in the next fiscal year, projected to generate an additional HKD 300 million in revenue[1]. - New product development includes the introduction of a next-generation lithium battery technology, expected to enhance performance by C%[10]. - The company has developed several innovative systems, including a new mRNA vaccine production system and a lithium battery solvent recovery system, enhancing its technological capabilities[48]. Client and Order Growth - User data showed a 20% increase in active clients, reaching 5,000 by the end of the reporting period[1]. - New orders signed during the reporting period totaled 455 contracts, with a total contract value of approximately RMB 5,111,849 thousand, marking a year-on-year growth of about 50.1%[18]. - The company reported a net increase in cash and cash equivalents of RMB 476,206,000 for the six months ended June 30, 2021[129]. Financial Management - Financial costs decreased by approximately 31.3% to RMB 7,900 thousand for the six months ended June 30, 2022, primarily due to the repayment of part of the bank loans in the second half of 2021[58]. - The capital debt ratio decreased from approximately 18.4% as of December 31, 2021, to 17.9% as of June 30, 2022, due to profits increasing reserves during the reporting period[66]. - The company reported a foreign exchange gain of RMB 39,958,000 in 2022, a substantial improvement from a loss of RMB 1,344,000 in 2021[140]. Sustainability Commitment - Morimatsu is committed to achieving carbon neutrality by 2060, aligning with China's dual carbon goals announced in September 2020[1]. Shareholder Information - The company has not proposed any interim dividend for the six months ending June 30, 2022[71]. - Major shareholder Morimatsu Holdings owns 750,000,000 shares, representing 70.49% of the total issued shares[95].

Financial Performance - The company's sales revenue reached approximately RMB 4.279 billion, representing a year-on-year growth of about 43.7%[8] - Gross profit was approximately RMB 1.176 billion, with a year-on-year increase of about 39.4%[8] - Net profit amounted to approximately RMB 381 million, reflecting a year-on-year growth of about 31.5%[8] - Revenue for 2021 reached RMB 4,278,847 thousand, a 43.5% increase from RMB 2,978,626 thousand in 2020[28] - Gross profit for 2021 was RMB 1,176,371 thousand, representing a 39.4% increase from RMB 844,104 thousand in 2020[28] - Profit from continuing operations for 2021 was RMB 380,552 thousand, up 31.5% from RMB 289,385 thousand in 2020[28] - Total assets as of December 31, 2021 amounted to RMB 5,695,324 thousand, a significant increase from RMB 3,034,445 thousand in 2020[28] - Total liabilities for 2021 were RMB 3,687,032 thousand, compared to RMB 2,036,133 thousand in 2020, indicating a 81.1% increase[28] - The company recorded a profit of approximately RMB 380,552 thousand for the year ended December 31, 2021, an increase of approximately RMB 91,167 thousand compared to RMB 289,385 thousand in 2020, driven by revenue growth despite increased expenses[86] Order and Backlog - New signed orders totaled approximately RMB 6.654 billion, marking a year-on-year increase of about 88.7%[8] - The backlog of orders was approximately RMB 5.720 billion, which is a year-on-year growth of about 72.5%[8] - The total new orders amounted to RMB 6,654,149 thousand, with the pharmaceutical and biopharmaceutical sectors contributing RMB 2,401,812 thousand[39] Business Strategy and Market Position - The company aims to become a global leader in core equipment, process systems, and digital engineering solutions[7] - The company has established long-term strategic partnerships with leading enterprises across various industries, including biopharmaceuticals and new chemical materials[9] - The company is focusing on sustainable development, aligning with global trends towards low-emission and low-pollution energy structures, and promoting innovation in downstream industries[15] - The company is expanding its operations in the pharmaceutical and daily chemical industries, with a focus on enhancing business operations[18] - The company has a strategic focus on market expansion and enhancing customer relationships through improved operational management[16] Research and Development - The company emphasizes continuous innovation in products and services to adapt to market fluctuations and maintain sustainable growth[9] - The company is actively involved in the development of new technologies and products, including mRNA technology and biodegradable materials, to meet evolving market needs[11] - The company has established six internal startup teams focused on new technologies and products in fields such as new materials and biopharmaceuticals[65] - The company collaborates closely with leading industry players and academic institutions to enhance its R&D capabilities and talent pool[64] Production Capacity and Infrastructure - The company has expanded its production capacity, with a new production base in Nantong covering approximately 50,000 square meters, expected to be completed by June 2022, and a new clean product production base in Changshu with an investment of approximately $180 million, set to start construction in May 2022[13] - The company established a new manufacturing base in Suzhou for high-end intelligent equipment in biopharmaceuticals and electronic chemicals, set to commence construction in 2022 and expected to start production in the second half of 2023[33] - The company plans to continue expanding production capacity in response to market demands while maintaining a balanced approach between local and overseas markets[67] Workforce and Management - The workforce has reached 3,211 employees, including over 400 R&D personnel and more than 1,600 engineering and technical management staff, supporting the company's growth and innovation[14] - The company has a robust management team with diverse educational backgrounds, including degrees in engineering and business administration[19] - The company emphasizes talent investment, building a robust training system and providing opportunities for employees to pursue advanced degrees abroad[62] Corporate Governance - The company has appointed independent directors to ensure governance and provide independent judgment to the board[20] - The board includes members with significant academic and industry experience, enhancing the company's strategic decision-making capabilities[24] - The company has adopted the corporate governance code as the basis for its governance practices and believes it has complied with all applicable provisions during the reporting period[159] Environmental, Social, and Governance (ESG) - The company is committed to environmental, social, and corporate governance (ESG) initiatives, with dedicated oversight from its executives[20] - The group has established a stakeholder engagement strategy to enhance collaboration with key stakeholders, including government, investors, employees, customers, suppliers, and the community[195] - The group emphasizes compliance with national laws and regulations, pollution control, and employee rights protection as part of its corporate responsibility[196] Market Trends and Industry Insights - The Chinese government has set ambitious targets for carbon neutrality, which is expected to drive demand for clean energy and power battery materials, with a projected increase in battery production capacity[42] - The Chinese biopharmaceutical market is projected to reach approximately RMB 1.303 trillion by 2030, with its market share expected to grow from 19% in 2019 to 41% by 2030[45] - The global biopharmaceutical market is anticipated to reach USD 768 billion by 2030, with China's share increasing from 18% to 41% during the same period[45] Risk Management - The group has established appropriate risk management and internal control mechanisms to address significant operational, financial, and regulatory risks[117] - The group faced market risks primarily from cyclical developments in downstream markets and industries, such as traditional energy and chemical products, but diversified customer base and market development helped maintain steady growth[118] - The group has implemented credit control policies to mitigate credit risk, regularly monitoring customer creditworthiness[120] Shareholder Relations - The company emphasizes effective communication with shareholders to enhance investor relations and understanding of business performance and strategy[189] - Shareholders holding at least 5% of voting rights can request the board to convene a special general meeting within 21 days[187] - The board has adopted a dividend policy, stating that dividends declared at the shareholders' meeting cannot exceed the amount recommended by the board[190]

Financial Performance - Morimatsu International Holdings reported unaudited interim consolidated results for the six months ended June 30, 2021[12]. - Revenue for the six months ended June 30, 2021, was RMB 1,852,632 thousand, representing a 28.5% increase from RMB 1,441,933 thousand in the same period of 2020[64]. - Gross profit for the same period was RMB 483,027 thousand, up from RMB 430,447 thousand, indicating a gross margin improvement[64]. - Operating profit decreased to RMB 179,850 thousand from RMB 246,486 thousand, reflecting a decline of 27.0% year-over-year[64]. - Net profit for the period was RMB 143,531 thousand, down 31.8% from RMB 210,548 thousand in the prior year[65]. - Basic earnings per share decreased to RMB 0.19 from RMB 0.28, a decline of 32.1%[64]. - The total comprehensive income for the six months ended June 30, 2021, was RMB 142,977,000, compared to RMB 143,531,000 for the same period in 2020, reflecting a slight decrease[77]. - The company reported a total comprehensive income of RMB 142,977 thousand for the period, down from RMB 210,757 thousand in the previous year[66]. - The total new order amount for the group reached approximately RMB 3,406.7 million in the first half of 2021, a significant increase from RMB 1,909.2 million in the same period of 2020[24]. Market and Industry Focus - The company focuses on biopharmaceuticals, modular systems, and electronic chemicals, which are critical for the semiconductor industry[10]. - The company is expanding its market presence in China, particularly in the Pudong New Area of Shanghai[6]. - The global biopharmaceutical market is projected to grow at a compound annual growth rate (CAGR) of approximately 18.4% from 2018 to 2023, reaching about $556.5 billion[13]. - China's biopharmaceutical market is expected to reach approximately $96.9 billion and $199.4 billion by 2023 and 2030, respectively, with a CAGR of about 19.6% from 2018 to 2023[13]. - The company has established itself as a leading provider of modular, digital, and intelligent factory solutions for mRNA COVID-19 vaccine projects, anticipating new business opportunities exceeding $15 billion to $20 billion in the Chinese pharmaceutical equipment industry due to the pandemic[16]. - The company is focused on research and development to innovate new products in the biopharmaceutical sector[10]. - The company aims to enhance its market competitiveness by accelerating production expansion in response to the rapid development of the biopharmaceutical industry in China[13]. Research and Development - The company aims to enhance operational efficiency through digital maintenance using IoT technology[11]. - The company is committed to developing biodegradable materials and high-purity electronic chemicals to meet industry standards[10]. - R&D expenses grew approximately 70.4% to RMB 77,436 thousand, representing 4.2% of revenue, reflecting increased investment in new products and technologies[38]. - The company plans to invest approximately USD 180 million in a biopharmaceutical high-end equipment manufacturing base project, covering over 200,000 square meters[29]. Strategic Initiatives - The company is exploring strategic partnerships and acquisitions to bolster its growth trajectory[12]. - The company has formed strong partnerships with over 85% of the top 20 global pharmaceutical companies, enhancing its international market promotion strategy[16]. - The company signed a long-term global strategic cooperation agreement in March 2020 with a leading industry player to provide core reactors and modular reaction devices for battery raw materials projects[17]. - The group has established a strategic agreement to design and construct the world's first modular advanced chemical materials production facility for a leading international chemical company[19]. Financial Health and Investments - The company reported a significant increase in financial costs, with interest on borrowings rising to RMB 11,461,000 from RMB 3,768,000 year-over-year[90]. - Total assets as of June 30, 2021, were RMB 3,292,306 thousand, compared to RMB 2,053,416 thousand at the end of 2020, showing significant growth[68]. - The company's equity attributable to shareholders increased to RMB 1,669,044 thousand from RMB 998,312 thousand, indicating strong financial health[72]. - The company issued shares amounting to RMB 493,980,000 during the reporting period, contributing significantly to financing activities[78]. - Cash and cash equivalents increased by RMB 474,409,000, reaching RMB 898,837,000 as of June 30, 2021, compared to RMB 557,026,000 at the end of the previous period[78]. Operational Metrics - The total backlog of uncompleted orders was approximately RMB 4,880,729 thousand, up from RMB 3,224,779 thousand as of June 30, 2020[27]. - Trade and other receivables rose by approximately 91.7% from RMB 578,858 thousand on December 31, 2020, to RMB 1,109,559 thousand on June 30, 2021[46]. - Trade and other payables increased by approximately 40.0% from RMB 724,551 thousand on December 31, 2020, to RMB 1,014,595 thousand on June 30, 2021[47]. - Contract liabilities grew by approximately 34.8% from RMB 842,649 thousand on December 31, 2020, to RMB 1,136,135 thousand on June 30, 2021[48]. Employee and Corporate Governance - As of June 30, 2021, the group had a total of 2,951 employees, with 356 in R&D, accounting for over 10% of total employees[52]. - The company has established a comprehensive compensation and benefits system to attract and retain high-quality employees[52]. - The company has implemented a series of forward contracts to manage foreign exchange risks, with no significant impact from currency fluctuations reported for the six months ended June 30, 2021[52]. - The group maintained a public float of no less than 25% of issued shares since the listing date[54]. Compliance and Risk Management - The company emphasizes compliance with international standards in its product offerings[11]. - The effective tax rate for the group’s Chinese subsidiaries remains at 25%, consistent with the statutory corporate income tax rate in China[95]. - The group has no significant litigation or arbitration matters as of June 30, 2021[52].