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四方新材(605122) - 2022 Q3 - 季度财报
2022-10-26 16:00
Financial Performance - The company's operating revenue for Q3 2022 was ¥440,754,167.57, representing a year-on-year increase of 55.03%[4] - The net profit attributable to shareholders was -¥771,193.68, a decrease of 102.12% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥3,038,264.29, down 109.00% year-on-year[4] - The basic earnings per share for the period was -¥0.01, a decline of 104.76% compared to the previous year[5] - The net profit attributable to the parent company was 51 million RMB, a year-on-year decline of 51.82%[14] - Net profit for the third quarter of 2022 was ¥51,136,746.01, a decrease of 51.3% from ¥105,143,596.06 in the same quarter of 2021[27] - Basic earnings per share for the third quarter of 2022 were ¥0.29, down from ¥0.65 in the same quarter of 2021[27] - The net profit for the first three quarters of 2022 was CNY 46.71 million, down 55.6% from CNY 105.14 million in the same period of 2021[36] - The company recorded a total profit of CNY 54.95 million for the first three quarters of 2022, down 55.1% from CNY 121.99 million in the same period of 2021[35] Revenue and Costs - The company achieved operating revenue of 1.177 billion RMB, representing a year-on-year growth of 48.57%[14] - Total revenue for the first three quarters of 2022 reached ¥1,176,698,881.55, a significant increase of 48.7% compared to ¥792,012,631.80 in the same period of 2021[25] - Total operating costs for the first three quarters of 2022 were ¥1,090,586,602.88, up 63.2% from ¥668,630,800.20 in the previous year[25] - The total operating costs decreased to CNY 545.79 million in 2022 from CNY 620.69 million in 2021, reflecting a reduction of 12.1%[35] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,200,753,655.26, an increase of 19.11% from the end of the previous year[5] - Total assets increased to ¥4,200,753,655.26 in Q3 2022, compared to ¥3,526,892,163.69 in Q3 2021, reflecting a growth of 19.1%[23] - Total liabilities rose to ¥1,828,886,869.09 in Q3 2022, up 52.1% from ¥1,201,955,555.94 in Q3 2021[23] - Total liabilities as of September 30, 2022, were CNY 1,160,152,103.72, up from CNY 896,616,269.19 at the end of 2021[33] - The company's total equity as of September 30, 2022, was CNY 2,334,604,781.25, compared to CNY 2,301,283,600.72 at the end of 2021, reflecting a growth of 1.5%[33] Cash Flow - The cash flow from operating activities was -¥168,260,664.08, indicating a negative cash flow situation[4] - Cash inflow from operating activities for the first three quarters of 2022 was CNY 839,476,406.76, compared to CNY 515,853,907.93 in the same period of 2021, representing a 62.7% increase[29] - Net cash outflow from operating activities was CNY -168,260,664.08 for the first three quarters of 2022, worsening from CNY -85,410,684.31 in 2021[29] - Cash inflow from financing activities totaled CNY 502,150,904.64 in Q3 2022, down from CNY 1,361,165,100.00 in Q3 2021[30] - Net cash inflow from financing activities was CNY 348,152,077.77 in Q3 2022, compared to CNY 886,884,338.73 in Q3 2021[30] Market Conditions - The gross profit margin for ready-mixed concrete decreased due to intense market competition and low prices[9] - The company expects an increase in credit impairment losses due to liquidity issues faced by downstream real estate developers[9] - The company reported a significant decline in the real estate sector, with new construction area in Chongqing down 52.2% year-on-year from January to August 2022[14] - The average tax-inclusive guiding price for ready-mixed concrete (C30 specification) in Chongqing was 396.11 RMB per cubic meter, a decrease of 25.56 RMB compared to the same period last year[15] - The average guiding price for 42.5-grade (bagged) cement was 514.44 RMB per ton, down 5 RMB from the previous year[15] Investments and Subsidiaries - The company added three new subsidiaries, contributing to the increase in sales volume and operating revenue[9] - The company acquired 78% of Chongqing Xinke New Building Materials Co., Ltd. for 240 million RMB to establish a new production base in the western region of Chongqing[16] - The company also agreed to acquire 82% of Chongqing Qingyi Hui Industrial Co., Ltd. at no cost, adding another production base in the northern region of Chongqing[16] - The company invested a total of 452.0056 million RMB in raised funds by September 30, 2022, with 55 million RMB used to temporarily supplement working capital[17] - The company completed the industrial layout of ready-mixed concrete production bases in four key areas around Chongqing, achieving full coverage of service areas[17] Other Financial Metrics - The weighted average return on equity decreased by 3.47 percentage points to -0.03%[5] - The company reported a net credit impairment loss of ¥-38,680,832.00 in Q3 2022, worsening from ¥-13,211,871.91 in the same quarter of 2021[26] - The company's goodwill increased to ¥226,184,198.64 in Q3 2022, compared to ¥18,460,027.01 in Q3 2021, showing a substantial rise[22] - The company reported a significant increase in interest expenses, rising to CNY 12.52 million from CNY 6.51 million in the previous year[35]
四方新材(605122) - 2022 Q2 - 季度财报
2022-08-26 16:00
Financial Performance - The company's operating revenue for the first half of 2022 was approximately CNY 735.94 million, representing a 44.95% increase compared to CNY 507.72 million in the same period last year[21]. - The net profit attributable to shareholders decreased by 25.17% to CNY 51.43 million from CNY 68.73 million year-on-year[21]. - The net profit after deducting non-recurring gains and losses fell by 30.34% to CNY 44.83 million compared to CNY 64.35 million in the previous year[21]. - The net cash flow from operating activities was negative at CNY -110.63 million, worsening from CNY -63.87 million in the same period last year, a decline of 73.21%[21]. - Basic earnings per share decreased by 31.82% to CNY 0.30 from CNY 0.44 in the same period last year[22]. - The weighted average return on net assets dropped by 1.94 percentage points to 2.20% from 4.14% year-on-year[22]. - The company achieved operating revenue of 736 million RMB, a year-on-year growth of 44.95%[41]. - The net profit attributable to shareholders was 51 million RMB, a decrease of 25.17% compared to the previous year[38]. Assets and Liabilities - The total assets increased by 19.22% to CNY 4.20 billion from CNY 3.53 billion at the end of the previous year[21]. - The net assets attributable to shareholders rose by 1.60% to CNY 2.35 billion compared to CNY 2.31 billion at the end of the previous year[21]. - Cash and cash equivalents at the end of the period amounted to ¥617,799,770.33, representing 14.69% of total assets, a decrease of 4.99% compared to the previous year[45]. - Accounts receivable increased to ¥1,816,352,146.89, accounting for 43.20% of total assets, reflecting a 34.71% increase year-on-year due to higher sales revenue, although collection decreased due to liquidity issues in downstream real estate companies[45]. - Inventory rose to ¥28,653,660.62, representing 0.68% of total assets, a 36.58% increase attributed to the expansion of the consolidated scope with new subsidiaries[45]. - Fixed assets increased to ¥379,461,360.83, making up 9.02% of total assets, a 36.92% increase due to the addition of new subsidiaries[45]. - Total liabilities increased to CNY 1,832,208,648.67 from CNY 1,201,955,555.94, indicating a growth of approximately 52.4%[131]. Market and Competition - The decline in net profit was primarily due to the ongoing downturn in the real estate sector and increased competition in the concrete market, leading to lower gross margins[23]. - The company is positioned in the "C30 Non-Metallic Mineral Products Industry," which is encouraged for development according to national guidelines[32]. - The company's gross profit margin for concrete products declined due to intense market competition and low prices, influenced by the sluggish real estate sector[38]. - The company faces risks from macroeconomic fluctuations, with the concrete industry closely tied to national economic policies and environmental regulations[64]. - The company is exposed to risks from intensified market competition, which may lead to price declines and affect market share or gross margin[64]. Production Capacity and Operations - The company has a concrete production capacity of approximately 15.5 million cubic meters per year and a mortar production capacity of 1.2 million cubic meters per year[29]. - The company completed the layout of four concrete production bases in the main urban area of Chongqing, with a total annual designed production capacity of approximately 15.5 million cubic meters[35]. - The company has established multiple concrete production bases in Chongqing, enhancing its operational capacity and market reach[29]. - The company employs a just-in-time production model, responding to customer demands with a flexible production schedule[30]. - The company’s sales model for concrete is based on immediate production and delivery, aligning with customer construction schedules[31]. Investments and Acquisitions - The company acquired 78% of Xinke New Materials and 82% of Qingyi Hui, expanding its concrete production bases in western and northern Chongqing[39]. - The company made a new equity investment of ¥96,000,000.00 in XinKe New Materials, holding a 78% stake, focusing on the manufacturing and sales of cement products[51]. - The company has a total of 7 investment projects, with 2 new equity investment projects added in the first half of 2022[49]. Environmental and Social Responsibility - The company has obtained the necessary pollution discharge permits and registrations, ensuring compliance with environmental regulations[77]. - All pollution prevention facilities are operating normally, including dust suppression equipment and wastewater recycling systems, achieving zero wastewater discharge[77]. - The company has implemented measures to reduce carbon emissions, focusing on energy and fuel savings, including advanced energy-saving equipment and GPS monitoring for transportation[81]. - The company actively engages in environmental monitoring and has established a dedicated environmental protection department to oversee compliance and management[80]. - The company has made donations to the Chongqing Red Cross Foundation to support projects for disadvantaged children, reflecting its commitment to social responsibility[82]. Shareholder and Governance - The company commits to a 36-month lock-up period for major shareholders post-IPO, ensuring stability in shareholding[85]. - The company’s management has pledged not to transfer shares for 12 months post-IPO, reinforcing confidence in the company's future[86]. - The actual controllers of the company, Li Dezhi and Zhang Lilan, committed to not reducing their holdings after the lock-up period, unless necessary, and will comply with relevant regulations[89]. - The company has no significant litigation or arbitration matters during the reporting period[101]. - The company has no major related party transactions during the reporting period[102]. Financial Reporting and Compliance - The financial statements are prepared based on the going concern assumption, with no significant doubts regarding the company's ability to continue operations[178]. - The accounting policies comply with the enterprise accounting standards, ensuring a true and complete reflection of the company's financial status[179]. - The company’s accounting period runs from January 1 to December 31 each year[180]. - The company’s accounting currency is Renminbi (RMB)[182]. - The company reported a significant increase in cash and cash equivalents, with a total of $X million, reflecting a Y% growth compared to the previous period[189].
四方新材(605122) - 2021 Q4 - 年度财报
2022-04-22 16:00
Financial Performance - The company's operating revenue for 2021 was CNY 1,350,172,629.95, representing a 14.49% increase compared to CNY 1,179,334,181.49 in 2020[20]. - The net profit attributable to shareholders of the listed company decreased by 45.08% to CNY 133,863,168.71 from CNY 243,721,039.16 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 123,009,291.95, down 46.83% from CNY 231,363,197.97 in 2020[20]. - The net cash flow from operating activities was negative at CNY -222,363,715.00, a significant decline from CNY 56,554,282.56 in 2020, marking a 493.19% decrease[20]. - The total assets of the company increased by 66.58% to CNY 3,526,892,163.69 at the end of 2021, compared to CNY 2,117,186,753.13 at the end of 2020[20]. - The net assets attributable to shareholders of the listed company rose by 126.62% to CNY 2,312,686,066.37 from CNY 1,020,513,608.96 in the previous year[20]. - In 2021, the company's earnings per share decreased by 52.91% to CNY 0.81 compared to CNY 1.72 in 2020[21]. - The company's weighted average return on equity dropped by 20.40 percentage points to 6.79% from 27.19% in 2020[21]. - The operating costs increased by 32.96% to 1.06 billion RMB, primarily due to increased sales volume of ready-mixed concrete[47]. - The gross margin for ready-mixed concrete was 21.16%, a decrease of 10.87 percentage points compared to the previous year[51]. Market and Industry Context - The company's concrete sales market is primarily in the main urban area of Chongqing, with a year-on-year increase in sales volume due to market expansion efforts despite a downturn in the real estate sector[34]. - National fixed asset investment in 2021 was CNY 54.45 trillion, a year-on-year growth of 4.9%, with real estate development investment growing by 4.4%[35]. - The national concrete production in 2021 reached 3.293 billion cubic meters, a year-on-year increase of 6.9%, with an average price of CNY 433.5 per cubic meter, slightly up by CNY 2.2[36]. - In Chongqing, the real estate new construction area decreased by 18.1% year-on-year, impacting the demand for concrete[36]. - The average tax-inclusive guidance price for C30 concrete in Chongqing was CNY 431.67 per cubic meter, down by CNY 25 compared to the previous year[37]. Strategic Initiatives and Acquisitions - In September 2021, the company acquired a 65% stake in Tonglei High-tech, initiating a "light asset" operating model[33]. - The company also acquired 100% of Guangcheng Building Materials, which has limestone mineral resources, to enhance self-sufficiency in raw materials[33]. - The company aims to achieve an annual production capacity of 320 million tons of limestone for construction materials by 2025, with a focus on integrating upstream resources to support expansion[81]. - The company plans to implement prefabricated concrete projects steadily throughout 2022, targeting mass production within the year[83]. - The company is exploring potential mergers and acquisitions to enhance its market position and product offerings[97]. Research and Development - Research and development expenses rose by 161.57% to 6.3 million RMB, reflecting an increase in R&D personnel and activities[47]. - The company plans to allocate 10% of its revenue towards research and development to foster innovation[97]. - The company is investing 50 million RMB in R&D for new technologies in the upcoming fiscal year[98]. Environmental and Social Responsibility - The company has implemented pollution prevention facilities, including dust suppression and wastewater recycling systems, which are currently operating normally[134]. - The company has established an environmental management system certified under GB/T24001-2016, ensuring compliance with environmental protection measures[137]. - The company invested a total of CNY 74,600 in poverty alleviation and public welfare initiatives during the reporting period, including donations for education and support for local elderly care[141]. Governance and Shareholder Matters - The company approved the 2020 annual financial report and the 2021 financial budget plan during the shareholder meeting held on May 18, 2021[92]. - The company plans to maintain a cash dividend policy of at least 10% of the distributable profit for each profitable year[121]. - The company will implement a cash dividend ratio of at least 80% for mature stages without significant capital expenditure[122]. - The company has a structured remuneration decision process approved by the shareholders' meeting and the board of directors[101]. - The company has no penalties from securities regulatory agencies in the past three years[104]. Risks and Challenges - The company faces risks from the ongoing COVID-19 pandemic, which could impact major clients and suppliers, potentially affecting operations[85]. - The company is exposed to macroeconomic fluctuations and environmental policies, which could influence the concrete industry and its performance[85]. - The company’s raw material costs account for 50% to 60% of production costs, making it vulnerable to price volatility in raw materials[87].
四方新材(605122) - 2022 Q1 - 季度财报
2022-04-22 16:00
Financial Performance - The company's operating revenue for Q1 2022 was ¥307,505,106.93, representing a year-on-year increase of 38.24%[5] - The net profit attributable to shareholders decreased by 22.88% to ¥31,053,068.55, while the net profit after deducting non-recurring gains and losses fell by 32.23% to ¥25,104,987.15[5] - Basic earnings per share decreased by 35.71% to ¥0.18[6] - Net profit for Q1 2022 was ¥32,767,589.46, a decrease of 18.5% compared to ¥40,265,768.26 in Q1 2021[20] - Revenue for Q1 2022 was ¥204.31 million, a decrease of 8.5% compared to ¥222.45 million in Q1 2021[30] - Operating profit for Q1 2022 was ¥30.21 million, down 36.2% from ¥47.27 million in Q1 2021[30] - Net profit for Q1 2022 was ¥29.72 million, a decline of 26.1% compared to ¥40.27 million in Q1 2021[30] Cash Flow - The net cash flow from operating activities surged by 475.98% to ¥27,026,306.35[5] - The cash flow statement for Q1 2022 indicates ongoing investments in operational activities, although specific figures were not detailed in the provided content[21] - Total cash inflow from operating activities reached ¥290,858,770.36, compared to ¥183,886,114.78 in the same period last year, indicating a year-over-year increase of about 58%[23] - The net cash flow from investing activities was ¥75,714,502.58 in Q1 2022, a recovery from a negative cash flow of ¥11,280,926.92 in Q1 2021[24] - The company reported a total cash and cash equivalents balance of ¥820,918,665.39 at the end of Q1 2022, down from ¥1,286,516,763.61 at the end of Q1 2021[24] - Cash flow from operating activities for Q1 2022 was ¥52.66 million, significantly higher than ¥4.69 million in Q1 2021[31] - Cash flow from investing activities generated a net inflow of ¥70.73 million, compared to a net outflow of ¥11.28 million in Q1 2021[32] - Cash flow from financing activities resulted in a net inflow of ¥63.41 million, down from ¥1.22 billion in Q1 2021[32] - The ending cash and cash equivalents balance for Q1 2022 was ¥807.48 million, a decrease from ¥1.29 billion at the end of Q1 2021[32] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,649,964,317.03, an increase of 3.49% compared to the end of the previous year[6] - Total liabilities for Q1 2022 were ¥1,293,360,078.75, compared to ¥1,201,955,555.94 in Q1 2021, reflecting an increase of 7.6%[17] - Non-current liabilities totaled ¥333,614,702.76 in Q1 2022, slightly up from ¥333,115,702.50 in Q1 2021[17] - The total assets of the company as of March 31, 2022, amounted to ¥3,287,034,444.29, an increase from ¥3,197,899,869.91 as of December 31, 2021[26] - The total liabilities increased to ¥957,426,021.51 as of March 31, 2022, compared to ¥896,616,269.19 at the end of 2021[28] - The company's total equity reached ¥2,329,608,422.78 as of March 31, 2022, up from ¥2,301,283,600.72 at the end of 2021[28] Research and Development - Research and development expenses increased significantly by 168.71%, indicating a focus on enhancing R&D capabilities[8] - The company reported a significant increase in research and development expenses, which rose to ¥1,908,369.91 from ¥710,200.85 year-over-year[19] - Research and development expenses increased to ¥1.26 million, up 78.1% from ¥0.71 million in Q1 2021[30] Market Strategy - The company plans to continue expanding its market presence and enhancing its product offerings through increased investment in R&D and potential acquisitions[8] - The company continues to focus on expanding its market presence and enhancing product development strategies[22] - The company plans to continue focusing on R&D and market expansion strategies to improve future performance[30] Shareholder Information - The company’s major shareholders include Li Dezhi, holding 59.46% of shares, and Zhang Lilan, holding 6.50%[10] Inventory and Receivables - The company reported accounts receivable of approximately 1.48 billion RMB as of March 31, 2022, an increase from approximately 1.35 billion RMB at the end of 2021[15] - The company’s inventory stood at approximately 21.50 million RMB as of March 31, 2022, slightly up from approximately 20.98 million RMB at the end of 2021[15] - The company’s contract assets were approximately 273.50 million RMB as of March 31, 2022, down from approximately 342.96 million RMB at the end of 2021[15] - The accounts receivable increased to ¥1,272,432,555.26 as of March 31, 2022, compared to ¥1,229,201,682.64 in the previous year[26]
四方新材(605122) - 重庆四方新材股份有限公司关于参加重庆辖区2021年投资者网上集体接待日活动的公告
2021-11-19 08:52
证券代码:605122 证券简称:四方新材 公告编号:2021-059 重庆四方新材股份有限公司 关于参加重庆辖区 2021 年投资者 网上集体接待日活动的公告 本公司董事会及全体董事保证本公告不存在任何虚假记载、误导性陈述 或者重大遗漏,并对其内容的真实性、准确性和完整性承担个别及连带责任。 为提高上市公司规范运作水平,进一步做好投资者关系管理工作,重庆上市 公司协会联合上证所信息网络有限公司、深圳市全景网络有限公司举办"重庆辖 区上市公司 2021 年投资者网上集体接待日活动"。活动时间为 2021 年 11 月 25 日 (星期四) 下 午 15:00-17:00 ,活动 平台为 上证路演中心 (http://roadshow.sseinfo.com)。 届时,重庆四方新材股份有限公司(以下简称"公司")相关高级管理人员 将参加本次活动,与投资者进行"一对多"形式的在线交流,回答投资者关心的 问题。 欢迎广大投资者积极参加。 特此公告。 重庆四方新材股份有限公司 董 事 会 2021 年 11 月 20 日 ...
四方新材(605122) - 2021 Q3 - 季度财报
2021-10-26 16:00
Financial Performance - The company's operating revenue for Q3 2021 was ¥284,296,706.08, a decrease of 15.05% compared to the same period last year[5]. - The net profit attributable to shareholders was ¥36,413,512.41, down 53.23% year-on-year[5]. - The basic earnings per share were ¥0.21, reflecting a decline of 75.29% compared to the previous year[6]. - The company reported a decrease of 41.78% in net profit attributable to shareholders, mainly due to a decline in average sales prices in the concrete market[10]. - From January to September 2021, the company achieved operating revenue of 792 million RMB, a year-on-year decline of 5.19%, and a net profit attributable to the parent company of 105 million RMB, down 41.78%[15]. - Total revenue for the first three quarters of 2021 was CNY 792,012,631.80, a decrease from CNY 835,405,488.86 in the same period of 2020, representing a decline of approximately 5.2%[26]. - Net profit for the third quarter of 2021 was CNY 105,143,596.06, down from CNY 180,600,861.82 in the previous year, reflecting a decrease of approximately 41.7%[27]. - Operating profit for the third quarter was CNY 116,597,280.52, down from CNY 204,778,527.56, reflecting a decrease of about 43.1%[27]. Assets and Equity - The total assets increased by 50.70% to ¥3,190,629,814.94 compared to the end of the previous year[6]. - The equity attributable to shareholders rose by 123.78% to ¥2,283,670,426.42, primarily due to funds raised from the IPO[6]. - The company's total equity rose to CNY 2,284,705,475.07 from CNY 1,020,513,608.96, an increase of approximately 124.0%[23]. - The company's total current assets amounted to approximately 2.524 billion RMB as of September 30, 2021[20]. - The company's fixed assets were valued at approximately 240 million RMB, with intangible assets at approximately 200 million RMB[20]. Cash Flow - The cash flow from operating activities showed a negative net amount of ¥85,410,684.31 for the year-to-date[6]. - Cash inflow from operating activities for the first three quarters of 2021 was CNY 515,853,907.93, a decrease of 18.4% compared to CNY 632,084,926.23 in the same period of 2020[30]. - Net cash outflow from operating activities was CNY -85,410,684.31, worsening from CNY -54,033,044.60 year-over-year[30]. - Total cash outflow for operating activities was CNY 601,264,592.24, down from CNY 686,117,970.83 in the same period of 2020[30]. - The net increase in cash and cash equivalents was CNY 482,996,139.38, a recovery from a decrease of CNY -45,691,593.13 in the previous year[32]. - The ending balance of cash and cash equivalents was CNY 553,093,278.03, compared to CNY 7,688,074.93 at the end of the previous year[32]. Market Conditions - The company reported a significant impact on revenue, net profit, and gross margin due to the declining prices in the ready-mixed concrete market[16]. - The company noted that the actual transaction prices in the ready-mixed concrete market were still declining, affecting financial performance[16]. - The average tax-inclusive guiding price for ready-mixed concrete (C30 specification) in Chongqing was 421.67 RMB per cubic meter, a decrease of 42.22 RMB per cubic meter compared to the same period last year[15]. Investments and Subsidiaries - The company established a wholly-owned subsidiary, Chongqing Sifang Jiantong Technology Co., Ltd., with a registered capital of 50 million RMB, focusing on the R&D, production, and sales of prefabricated buildings[16]. - On September 9, 2021, the company signed an agreement to acquire 65% of Chongqing Tonglei High-tech Concrete Co., Ltd. for a consideration of 10 RMB, aiming for deep cooperation in related business areas[17]. - As of September 30, 2021, the total amount of raised funds invested was 413.4682 million RMB, with 822.9557 million RMB used for cash management to improve deposit interest rates[17]. Research and Development - Research and development expenses increased significantly to CNY 3,645,261.34 from CNY 1,677,595.53, representing an increase of about 117.5%[27]. Shareholder Information - The company had a total of 19,752 common shareholders at the end of the reporting period[12]. - The diluted earnings per share also decreased by 66.84% due to the increase in share capital from the IPO[10].
四方新材(605122) - 2021 Q2 - 季度财报
2021-08-23 16:00
Financial Performance - The company's operating revenue for the first half of 2021 was CNY 507.72 million, a 1.39% increase compared to CNY 500.76 million in the same period last year[18]. - The net profit attributable to shareholders decreased by 33.11% to CNY 68.73 million from CNY 102.74 million year-on-year[18]. - The net cash flow from operating activities was negative at CNY -63.87 million, a significant decrease of 161.11% compared to CNY 104.50 million in the previous year[18]. - The overall gross margin for the first half of 2021 was 24.95%, down 9.31 percentage points compared to the same period last year[40]. - The company achieved operating revenue of 508 million RMB, a year-on-year growth of 1.39%, while net profit attributable to shareholders decreased by 33.11% to 69 million RMB[40]. - The company reported a comprehensive income of 68,730,083.65 RMB for the first half of 2021[122]. Assets and Liabilities - Total assets grew by 40.61% to CNY 2.98 billion from CNY 2.12 billion at the end of the previous year[18]. - The company's total current assets reached CNY 2,494,769,806.06, an increase of 54.1% from CNY 1,617,148,889.25 at the end of 2020[112]. - The total liabilities decreased to CNY 729,298,908.15 as of June 30, 2021, down from CNY 1,096,673,144.17 at the end of 2020, a reduction of approximately 33.4%[114]. - The company's total non-current assets were CNY 482,229,529.12 as of June 30, 2021, a decrease from CNY 500,037,863.88 at the end of 2020, representing a decline of 3.0%[113]. - The total equity at the end of the reporting period was 2,247,700,427.03 RMB, reflecting the company's financial stability[123]. Cash Flow - Cash and cash equivalents increased significantly to approximately 748.7 million RMB, up 501.71% from the previous year due to funds raised from the IPO[44]. - The net cash flow from financing activities was 927,638,513.73 RMB, compared to -10,327,159.44 RMB in the previous year, indicating a strong improvement[119]. - The company reported a net increase in cash and cash equivalents of 647,683,521.82 RMB, up from 83,151,303.77 RMB in the first half of 2020[119]. - The company incurred a total of 220,030,650.42 RMB in cash outflows from investing activities, significantly higher than 14,374,308.68 RMB in the same period last year[118]. Shareholder Information - The total share capital increased from 92.21 million shares to 172.35 million shares after issuing 30.9 million new shares and a bonus issue of 49.24 million shares[92]. - The largest shareholder, Li Dezhi, holds 102.48 million shares, representing 59.46% of the total shares[99]. - The company distributed a dividend of 0.6 RMB per share for the fiscal year 2020[92]. - The company has a total of 102,480,000 shares held by Li Dezhi, which represents a substantial portion of the total shares outstanding[101]. Market and Industry Context - In the first half of 2021, the national fixed asset investment reached 25.59 trillion yuan, a year-on-year increase of 12.6%, with infrastructure investment growing by 7.8%[30]. - In Chongqing, fixed asset investment increased by 9.3% in the first half of 2021, with infrastructure investment up by 12.2%[30]. - The company is actively involved in major infrastructure projects in Chongqing, which are expected to drive demand for its products[31]. Production and Operations - The company specializes in the research, production, and sales of commodity concrete, with a focus on various strength grades and special types of concrete[26]. - The company has a designed production capacity of 4.8 million cubic meters per year with 8 fully enclosed automated production lines[36]. - In the first half of 2021, the company's concrete production volume reached 1.2623 million cubic meters, representing a year-on-year increase of 22.97%[40]. Research and Development - The company has invested in R&D, increasing R&D expenses by 112.84% to approximately 2.39 million RMB[43]. - Research and development expenses rose to CNY 2,390,691.16 in the first half of 2021, compared to CNY 1,123,259.91 in the same period of 2020, marking an increase of 112.5%[115]. Environmental Management - The company has established an environmental management system and obtained certification, ensuring compliance with environmental protection measures[61]. - The company has installed 18 dust suppression machines and 91 bag-type pulse dust collectors to control pollution in its production areas[61]. - The company has implemented measures to reduce carbon emissions by optimizing electricity and diesel usage, including the installation of GPS systems in all vehicles[65]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, particularly in infrastructure and real estate investments, which could impact operations[51]. - The company is exposed to risks from the ongoing COVID-19 pandemic, affecting the labor-intensive construction industry[52]. - The company has significant liquidity risks due to high accounts receivable and long collection periods, which are common in the concrete industry[51]. Corporate Governance - The company has committed to a 36-month lock-up period for major shareholders following the IPO, with specific conditions for share transfers[69]. - The actual controllers of the company, Li Dezhi and Zhang Lilan, committed to not reducing their holdings after the lock-up period, unless necessary, and will comply with relevant regulations[74]. - The company has not reported any significant non-equity investments during the reporting period[47]. Accounting Policies - The company's financial statements are prepared based on the going concern assumption, with no significant doubts regarding its ability to continue operations in the next 12 months[136]. - The company’s accounting policies comply with the requirements of the enterprise accounting standards, ensuring a true and complete reflection of its financial status[136]. - Revenue is recognized when the company fulfills its performance obligations, with the transaction price allocated to each obligation based on their standalone selling prices[196].
四方新材(605122) - 2020 Q4 - 年度财报
2021-04-27 16:00
Financial Performance - The company's operating revenue for 2020 was CNY 1,179,334,181.49, a decrease of 22.70% compared to CNY 1,525,576,954.27 in 2019[21] - The net profit attributable to shareholders for 2020 was CNY 243,721,039.16, representing a 4.60% increase from CNY 233,005,540.80 in 2019[21] - The net cash flow from operating activities decreased by 57.83% to CNY 56,554,282.56 in 2020, primarily due to a reduction in the balance of operating payables[22] - The total assets at the end of 2020 were CNY 2,117,186,753.13, an increase of 3.15% from CNY 2,052,585,339.10 at the end of 2019[21] - The net assets attributable to shareholders increased by 31.77% to CNY 1,020,513,608.96 at the end of 2020, driven by the net profit achieved during the year[23] - The basic earnings per share for 2020 were CNY 2.64, up 4.35% from CNY 2.53 in 2019[22] - The weighted average return on equity decreased by 8.5 percentage points to 27.19% in 2020, compared to 35.69% in 2019[22] Cash Dividend and Profit Distribution - The company plans to distribute a cash dividend of CNY 6 per 10 shares, totaling CNY 73,866,000, and to increase capital reserves by converting 4 shares for every 10 shares held[5] - The company did not propose a cash dividend plan for the year 2020, despite having a positive profit available for distribution to ordinary shareholders[104] - In 2020, the company distributed a total of 73,866,000 shares as stock dividends, with a cash dividend amounting to 243,721,039.16 RMB, representing a payout ratio of 30.31%[104] - The company must disclose reasons for not proposing a cash dividend if it has profits but does not distribute them, along with the intended use of retained earnings[105] - The board of directors is required to strictly follow the cash dividend policy established in the company's articles of association and approved by the shareholders' meeting[102] Operational Highlights - The company has a designed production capacity of approximately 4.8 million cubic meters per year for ready-mixed concrete, positioning itself as a leading manufacturer in the region[31] - The company has established long-term partnerships with top cement manufacturers in Chongqing, ensuring a stable supply of quality materials[32] - The sales model is based on a just-in-time production approach, responding to customer demands with immediate production and delivery[35] - The company is focusing on increasing its self-supply of sand and gravel to mitigate rising external procurement costs[32] - The company has been recognized for its environmentally friendly production practices, receiving a green building material rating from local authorities[31] Market and Industry Trends - In 2020, the national fixed asset investment reached 51.89 billion yuan, with a year-on-year growth of 2.9%, and infrastructure investment grew by 0.9%[36] - The production volume of ready-mixed concrete in Chongqing for 2020 was 7.57 million cubic meters, a year-on-year decrease of 2.65%[38] - The average price of ready-mixed concrete in Chongqing at the end of 2020 was 380 yuan per cubic meter, down by 50 yuan from the beginning of the year[38] - The mechanism sand industry is projected to become the main source of construction sand, with an annual demand for sand expected to reach nearly 500 billion tons globally by 2030[78] - The concrete industry in China is anticipated to undergo consolidation, with an increase in mergers and acquisitions to enhance industry concentration and foster leading brands[79] Future Outlook and Strategies - The company expects a net profit growth of 5%-15% for the year 2021[82] - The company plans to enhance management levels and optimize internal control mechanisms to improve operational efficiency[82] - The company aims to expand its market presence in Chongqing, focusing on increasing sales of ready-mixed concrete[83] - The company will enhance its technology development by improving its R&D organizational structure and team[84] - The company intends to develop high-performance and specialty ready-mixed concrete products, with plans for production of prefabricated concrete components and dry-mixed mortar[86] Risks and Challenges - The company faces risks from the ongoing COVID-19 pandemic, which may impact its operations[87] - The company is exposed to macroeconomic fluctuations that could affect the ready-mixed concrete industry and its performance[88] - The company has a concentrated sales region in Chongqing, making it vulnerable to local market downturns[89] - The company is at risk of increased competition in the ready-mixed concrete market, which could affect its market share and profit margins[90] - The company’s production costs are significantly affected by raw material price fluctuations, which account for approximately 60% of its production costs[94] Corporate Governance and Compliance - The company has a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and senior management, ensuring clear division of responsibilities[179] - The company has no penalties from securities regulatory agencies in the past three years[172] - The company has not disclosed any internal control self-evaluation reports or significant internal control deficiencies[183] - The audit report emphasizes the importance of evaluating management's use of accounting policies and estimates[198] Social Responsibility and Community Engagement - The company invested a total of RMB 480,900 in poverty alleviation efforts during the reporting period, participating in 10 projects and helping 5 registered impoverished individuals[140] - The company actively participated in pandemic prevention efforts, establishing a task force and donating protective materials to impoverished areas[143] - The company has established a dedicated environmental safety department and obtained environmental management system certification, adhering to GB/T24001-2016 standards[147]
四方新材(605122) - 2021 Q1 - 季度财报
2021-04-27 16:00
Financial Performance - Net profit attributable to shareholders rose by 75.99% to CNY 40,265,768.26 year-on-year[6] - Operating revenue grew by 50.79% to CNY 222,446,501.86 compared to the same period last year[6] - The company achieved a concrete sales volume of 536,400 cubic meters, an increase of 84.06% year-on-year[6] - Basic earnings per share rose by 76.00% to CNY 0.44 per share[6] - Revenue for the first quarter reached ¥222,446,501.86, representing a 50.79% increase from ¥147,518,963.00 year-over-year, attributed to reduced impact from the pandemic[13] - The net profit for Q1 2021 was CNY 40,265,768.26, up 76.0% from CNY 22,879,211.73 in the same period last year[20] - The total comprehensive income for Q1 2021 was CNY 40,265,768.26, consistent with the net profit, indicating no significant other comprehensive income items[20] Assets and Liabilities - Total assets increased by 55.14% to CNY 3,284,510,239.77 compared to the end of the previous year[6] - Total assets increased to ¥3,284,510,239.77, up from ¥2,117,186,753.13, reflecting strong growth in financial position[17] - The total liabilities decreased to CNY 989,390,518.02 from CNY 1,096,673,144.17, a reduction of approximately 9.8%[18] - The total equity increased significantly to CNY 2,295,119,721.75 from CNY 1,020,513,608.96, marking an increase of about 125.0%[18] Cash Flow - Cash flow from operating activities improved significantly to CNY 4,692,189.37 from a negative CNY 17,751,856.40 in the same period last year[6] - The cash flow from operating activities showed a net inflow of CNY 4,692,189.37, compared to a net outflow of CNY 17,751,856.40 in Q1 2020[23] - The company reported a net cash flow from financing activities of ¥1,223,008,362.51, significantly improved from a negative cash flow of ¥4,144,669.44 in the previous period, due to IPO proceeds[13] - The company raised CNY 1,249,665,100.00 from investment activities in Q1 2021, significantly higher than the previous year[23] Shareholder Information - The total number of shareholders reached 30,680 by the end of the reporting period[10] - The top shareholder, Li Dezhi, holds 59.46% of the shares, totaling 73,200,000 shares[11] Operational Efficiency - Accounts receivable decreased by 5.78% to ¥957,547,347.37 from ¥1,016,300,703.93, indicating improved collection efforts[12] - The company reported a significant reduction in overdue commitments, indicating improved operational efficiency[14] - Short-term borrowings decreased by 13.58% to ¥268,272,373.46 from ¥310,435,405.07, indicating reduced reliance on debt[17] Research and Development - Research and development expenses increased by 48.84% to ¥710,200.85, reflecting enhanced investment in R&D[13] - Research and development expenses for Q1 2021 were CNY 710,200.85, up from CNY 477,161.70 in Q1 2020, indicating a focus on innovation[19] Capital Structure - The company’s capital reserve surged by 660.30% to ¥1,386,598,563.52, primarily due to the IPO[13]