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宏达新材(002211) - 2019 Q4 - 年度财报
2020-04-06 16:00
Financial Performance - The company's operating revenue for 2019 was ¥1,104,658,864.23, representing a 2.27% increase compared to ¥1,080,127,347.86 in 2018[16]. - The net profit attributable to shareholders was -¥87,996,928.58, a significant decrease of 890.46% from ¥11,132,386.06 in the previous year[16]. - The net cash flow from operating activities was -¥245,379,152.72, a decline of 300.27% compared to ¥122,523,089.41 in 2018[16]. - The total assets at the end of 2019 were ¥1,078,860,758.58, down 8.76% from ¥1,182,498,466.22 at the end of 2018[16]. - The net assets attributable to shareholders decreased by 11.08% to ¥706,422,773.14 from ¥794,419,701.72 in 2018[16]. - The basic earnings per share for 2019 were -¥0.2035, a decrease of 891.83% from ¥0.0257 in 2018[16]. - The weighted average return on equity was -11.73%, a decline of 13.13% from 1.40% in the previous year[16]. - The gross profit for the period was RMB 115,733,600, reflecting a 15.33% increase compared to the previous year, primarily due to a 2.1% higher gross margin for information security products compared to organic silicon products[41]. - The company reported a significant decline in sales prices and material procurement costs in the silicone rubber sector, impacting overall sales performance[32]. - The company reported a significant drop in sales due to market conditions, leading to a substantial decline in overall business performance[88]. Subsidiaries and Acquisitions - The company established a wholly-owned subsidiary, Shanghai Hongzhu, in 2019 to engage in the development, production, and sales of communication products[15]. - The company acquired Shanghai Guanfeng in the second half of 2019, which focuses on PCB processing services[15]. - The company established a wholly-owned subsidiary, Shanghai Hongzhu, focusing on information security and private network communication, which has begun bulk deliveries of wireless communication products[26]. - The company acquired Shanghai Guanfeng, a PCB processing service provider, enhancing its capabilities in the upstream segment of the information communication business[26]. - The company invested RMB 150 million to establish a wholly-owned subsidiary, Shanghai Hongzhu, to expand into the information security business[36]. - The company completed the acquisition of 100% equity in Shanghai Guanfeng for a price of RMB 225 million[81]. - The company directly holds 100% equity in Shanghai Guanfeng, which has become a wholly-owned subsidiary[82]. - The acquisition of Shanghai Guanfeng Information Technology Co., Ltd. for RMB 22.5 million was completed, enhancing the company's capabilities in the information security sector[96]. Revenue Segments - The organic silicon segment generated ¥857.95 million, accounting for 77.64% of total revenue, but saw a decline of 20.59% compared to the previous year[51]. - The information security segment contributed ¥246.71 million, marking its first revenue generation as it was previously non-existent[51]. - The company achieved a revenue of RMB 1,104,658,864.23, an increase of 2.27% year-on-year, with a new revenue stream from information security products contributing RMB 246,706,955.99[41]. - Domestic sales reached ¥1.01 billion, which is 91.55% of total revenue, reflecting a 5.50% increase year-over-year[51]. Cash Flow and Investments - The net cash flow from investment activities improved significantly to ¥275,729,095.78, a 336.44% increase year-on-year[69]. - The cash and cash equivalents net increase was ¥6,107,060.63, a significant rise of 13,090.42% compared to the previous year[69]. - The company experienced a substantial increase in cash outflows due to increased prepayments for information security products[70]. - The company plans to utilize funds from the sale of Jiangsu Mingzhu's 100% equity to improve liquidity and support future investments[33]. Strategic Transformation - The company is focusing on the rapid growth of the information security industry, which is expected to be a new profit growth point[35]. - The company is undergoing a strategic transformation from a single focus on high-temperature silicone rubber to expanding into information security and specialized network communications[37]. - The company aims to improve its asset quality and resource allocation through the sale of Jiangsu Mingzhu, which aligns with its strategic transformation goals[95]. - The company plans to further expand its market share in the information and communication equipment sector[110]. Management and Governance - The company has committed to ensuring that its assets remain independent and complete, and that there is no violation of asset occupation by related parties[126]. - The company has established commitments to ensure independence in financial operations and governance structures, including maintaining independent financial departments and accounting systems[127]. - The company has committed to transparency in its financial disclosures and related party transactions[131]. - The company is focusing on strengthening its management team with experienced professionals from various sectors[199][200]. Challenges and Risks - The company has faced challenges in achieving profitability due to intense market competition and operational risks[89]. - The silicon rubber industry faces challenges such as price wars and environmental regulations, impacting profitability[100]. - The company acknowledges potential risks from macroeconomic fluctuations and competition in the high-temperature rubber industry[111]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 38,229[183]. - The largest shareholder, Shanghai Hongzi Enterprise Development Co., Ltd., holds 28.23% of the shares, totaling 12,210,000 shares[183]. - The company’s controlling shareholder has changed to Shanghai Hongzi, with Yang Xin as the actual controller[178]. - The company has not distributed any dividends or capital reserves in the last three years due to a lack of distributable profits[120]. Legal Matters - The company is involved in a lawsuit against Jiangsu Honghua with a claim amount of 30.42 million yuan, which has not formed an estimated liability[146]. - The company has been pursuing the recovery of debts from Jiangsu Mingzhu, which has incurred significant losses for two consecutive years, leading to the decision to publicly auction its 100% equity[148].
宏达新材(002211) - 2019 Q3 - 季度财报
2019-10-24 16:00
Financial Performance - Operating revenue for the reporting period was ¥256,320,090.37, representing a decline of 11.78% year-on-year[7] - Net profit attributable to shareholders was a loss of ¥722,938.87, a decrease of 229.78% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥561,391.12, down 111.75% year-on-year[7] - Basic earnings per share were -¥0.0017, a decrease of 230.77% year-on-year[7] - The weighted average return on assets was -0.09%, down from 0.03% in the same period last year[7] - Revenue for the reporting period was CNY 256,320,090.37, a decrease of 11.78% compared to the same period last year, primarily due to a decline in the price of silicone rubber in the market[16] - Net profit attributable to shareholders was CNY -722,938.87, a decrease of 229.78% year-on-year, influenced by external market conditions and competition[16] - Operating cash flow net amount was CNY -7,729,605.79, a decrease of 242.09%, affected by reduced sales and increased cash outflow for raw material procurement[16] - The diluted earnings per share were CNY -0.0017, a decrease of 228.59% year-on-year, reflecting the overall decline in profitability[16] - The net profit attributable to shareholders for 2019 is expected to decline by over 50% year-on-year[26] - The net profit for 2018 was 111.3 million yuan, indicating a significant drop in profitability for 2019[27] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥1,153,884,520.14, a decrease of 2.42% compared to the end of the previous year[7] - Total assets decreased by 39.84% in cash and cash equivalents, primarily due to increased capital tied up in raw material procurement[18] - Inventory increased by 220.22% to CNY 276,508,702.93, driven by the establishment of a new subsidiary and increased raw material purchases[18] - As of September 30, 2019, the total current assets amounted to approximately 909.33 million yuan, a slight decrease from 931.89 million yuan at the end of 2018[36] - The total non-current assets as of September 30, 2019, were approximately 244.55 million yuan, down from 250.61 million yuan at the end of 2018[37] - The total liabilities were CNY 359,263,214.15, a decrease from CNY 388,078,764.50 year-over-year[39] Cash Flow - Cash flow from operating activities showed a negative amount of ¥7,729,605.79, a decline of 242.09% compared to the previous year[7] - Cash and cash equivalents decreased from approximately 37.12 million yuan at the end of 2018 to about 22.33 million yuan by September 30, 2019[36] - The total cash inflow from investment activities was 2,136,826,259.39 CNY, while the cash outflow was 1,891,590,516.23 CNY, resulting in a net cash flow of 245,235,743.16 CNY[63] - The cash flow from investment activities showed a net outflow of -129,889,071.55 CNY, compared to -26,233,842.40 CNY in the previous year[67] Shareholder Information - The total number of shareholders at the end of the reporting period was 41,412[11] - The largest shareholder, Shanghai Jay Development Co., Ltd., held 28.23% of the shares[11] Strategic Initiatives - The company plans to acquire 100% equity of Shanghai Guanfeng Information Technology Co., Ltd., indicating a strategy for market expansion[23] - The company plans to publicly auction the 100% equity of its wholly-owned subsidiary, Jiangsu Mingzhu Silicone Rubber Materials Co., Ltd., to optimize resource allocation and improve asset structure[27] - The company has invested in establishing a subsidiary, Shanghai Jizhu, to expand into information security, which is still in the early stages[27] Market Conditions - The company's main silicone rubber business has experienced a substantial sales decline due to market conditions, with product price drops exceeding cost reductions[27] Research and Development - Research and development expenses for Q3 2019 were CNY 8,809,633.62, down from CNY 10,508,745.61 in the previous year[46] - Research and development expenses for the third quarter were 4,030,568.23, compared to 4,211,515.22 in the previous year, indicating a slight decrease in investment in innovation[50] Financial Management - The company reported a financial expense of 74.85 for the third quarter, compared to -681,242.85 in the previous year, suggesting improved financial management[50] - The company did not conduct an audit for the third quarter report[68] - The company has implemented new financial instrument standards and revenue recognition standards starting from 2019[68]
宏达新材(002211) - 2019 Q2 - 季度财报
2019-08-28 16:00
Financial Performance - The company's operating revenue for the first half of 2019 was ¥418,839,853.14, a decrease of 24.17% compared to ¥552,324,380.46 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was ¥924,543.14, down 93.43% from ¥14,077,906.50 year-on-year[16]. - The net profit after deducting non-recurring gains and losses was -¥1,192,684.97, a decline of 116.56% compared to ¥7,201,833.58 in the previous year[16]. - The net cash flow from operating activities was -¥253,176,642.29, a decrease of 300.05% from ¥126,557,788.88 in the same period last year[16]. - Basic earnings per share were ¥0.0021, down 93.56% from ¥0.0326 in the previous year[16]. - Gross profit for the period was 39.49 million RMB, down 29.42% year-on-year, attributed to a larger decline in product prices compared to cost reductions[31]. - The total operating revenue for the first half of 2019 was RMB 418,839,853.14, a decrease of 24.17% compared to RMB 552,324,380.46 in the same period last year[39]. - The total comprehensive income for the first half of 2019 was ¥924,543.14, a decrease of 94.1% compared to ¥15,685,466.13 in the first half of 2018[136]. - The company reported a net loss of CNY -693,377,348.39, slightly improved from CNY -694,301,891.53 in the previous period[127]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,166,215,070.77, a decrease of 1.38% from ¥1,182,498,466.22 at the end of the previous year[16]. - The asset-liability ratio at the end of the period was 31.80%, indicating a stable financial condition[31]. - The total liabilities decreased to CNY 370,870,825.91 from CNY 388,078,764.50, representing a reduction of approximately 4.4%[127]. - The total equity attributable to shareholders increased to CNY 795,344,244.86 from CNY 794,419,701.72, showing a slight growth of about 0.1%[127]. - The total current liabilities were CNY 370,495,200.91, a decrease from CNY 387,686,014.50, representing a decline of approximately 3.1%[126]. Investments and Subsidiaries - The company established a wholly-owned subsidiary, Shanghai Hongzhu, with an investment of 150 million RMB to expand into the information security business[27]. - The company has invested 150 million RMB to establish a wholly-owned subsidiary, Shanghai Hongzhu, to expand into the information security business, which is still in its early stages and has not yet generated revenue[58]. - The company approved the transfer of silicone rubber business and assets from its subsidiary to Jiangsu Mingzhu, with adjustments made to the asset injection plan[96]. - The company has a diversified organizational structure with multiple subsidiaries, including Dongguan New Oriental Technology Co., Ltd. and Jiangsu Mingzhu Silicone Rubber Materials Co., Ltd.[170]. Market and Business Strategy - The company's main business is high-temperature silicone rubber materials, which are essential in various industries including automotive, electrical, and medical applications[23]. - The company is focusing on technology innovation and product development to maintain competitive advantages in the silicone rubber market[25]. - The company plans to enhance its market expansion strategies and invest in new product development to drive future growth[154]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its product offerings[154]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2020[198]. Risks and Challenges - The company faces risks related to raw material price fluctuations and market expansion in the information security sector[4]. - The company faces risks related to the relocation of its Yangzhong production base, which is scheduled for completion by the end of 2019, and any delays could lead to production stoppages and customer losses[59]. - There is a risk of mismatched price fluctuations between raw materials and products, particularly concerning the price of DMC, which could impact profit margins[60]. Corporate Governance - The company has established a complete corporate governance structure, ensuring independent operation of its board of directors and management[71]. - The company has committed to maintaining independent business operations, including procurement, production, and sales capabilities[71]. - The company has made a commitment to ensure that its assets and resources are not misappropriated by related parties[70]. - The company has committed to ensuring that related party transactions are conducted at fair market prices and do not harm the interests of the listed company[75]. Financial Reporting and Compliance - The financial report for the first half of 2019 was not audited, which may affect the reliability of the financial data presented[122]. - The company reported a litigation amount of 27,428,213.54 yuan and a penalty of 3 million yuan related to a lawsuit against Jiangsu Honghua New Materials Co., Ltd. and Chen Long[79]. - The company has not reported any non-standard audit reports for the previous year[77]. Future Outlook - The company provided a positive outlook for the second half of 2019, projecting a revenue growth of 25% based on current market trends and user acquisition strategies[198]. - New product development efforts have led to the launch of three innovative materials, expected to contribute an additional 300 million RMB in revenue over the next year[198].
宏达新材(002211) - 2019 Q1 - 季度财报
2019-04-23 16:00
Financial Performance - The company's operating revenue for Q1 2019 was ¥214,358,222.66, a decrease of 15.07% compared to ¥252,389,515.47 in the same period last year[8] - The net profit attributable to shareholders was ¥3,991,829.11, down 40.13% from ¥6,667,029.80 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥227,568.11, a significant drop of 89.78% from ¥2,227,529.05 in the previous year[8] - The company's sales revenue decreased by 30.50% from 32,832,000 to 22,819,010.01, reflecting a decline in overall sales performance[16] - The net profit for the first half of 2019 is expected to decline by over 50% compared to the previous year, with a projected range of 0 to 500,000[21] - The company reported a gross profit margin of approximately 1.3% for Q1 2019, down from the previous year's margin[39] - The total profit for the first quarter was CNY 5,244,742.95, down from CNY 9,311,762.20, reflecting a decline of 43.8% year-over-year[41] - The operating profit for the first quarter was CNY 5,216,942.95, down 44.5% from CNY 9,370,662.20 in the same period last year[41] - The net profit for the first quarter of 2019 was CNY 3,991,829.11, a decrease of 48.8% compared to CNY 7,796,605.27 in the same period last year[41] Cash Flow - The net cash flow from operating activities increased by 425.63% to ¥112,928,977.16, compared to ¥21,484,580.50 in the same period last year[8] - The company's cash flow from sales decreased significantly, with tax refunds received dropping by 99.65% from 248.02 to 0.86[16] - The cash flow from operating activities was CNY 228,190,097.41, compared to CNY 328,349,984.05 in the previous year, representing a decrease of 30.5%[48] - Total cash inflow from operating activities amounted to ¥442,876,675.39, compared to ¥330,924,241.84 in the same period last year, indicating a year-on-year increase of approximately 34%[49] - Cash outflow from operating activities was ¥329,947,698.23, slightly higher than ¥309,439,661.34 in the previous year, resulting in a net cash flow from operating activities of ¥112,928,977.16[49] - The net cash flow from investing activities was -¥49,068,008.19, compared to -¥28,533,285.16 in the previous year, reflecting a decline in investment performance[50] - The total cash and cash equivalents at the end of the period was ¥100,985,850.59, a significant increase from ¥29,429,209.57 in the previous year[50] - The company reported a cash flow decrease of ¥150,315,020.81 in net cash and cash equivalents compared to a decrease of ¥9,022,822.87 in the previous year[54] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,136,249,603.53, a decrease of 9.65% from ¥1,257,639,418.22 at the end of the previous year[8] - The net assets attributable to shareholders were ¥798,411,530.83, a slight decrease of 0.26% from ¥800,486,116.69 at the end of the previous year[8] - Current liabilities decreased to CNY 337,453,885.21 from CNY 387,686,014.50, reflecting a reduction of approximately 12.9%[32] - The total liabilities decreased to CNY 337,838,072.70 from CNY 388,078,764.50, a reduction of about 12.9%[32] - Long-term equity investments increased to CNY 519,033,342.71 from CNY 369,033,342.71, representing a growth of 40.6%[36] - The company's accounts receivable increased by 39.32% from 51,469,187.75 to 71,707,612.30, indicating a rise in receivables during the reporting period[16] Earnings Per Share - The basic earnings per share were ¥0.0092, down 40.26% from ¥0.0154 in the same period last year[8] - The diluted earnings per share were also ¥0.0092, reflecting the same percentage decrease of 40.26%[8] - The basic and diluted earnings per share were both CNY 0.0092, compared to CNY 0.0154 in the previous year, indicating a decrease of 40.5%[42] Non-Recurring Gains and Losses - The company reported non-recurring gains totaling ¥3,764,261.00 during the reporting period[9] - The company reported a 138.65% increase in asset impairment losses, from -115.34 to 44.58, due to a slight increase in accounts receivable[16] - Other income rose by 110% from 0.5 to 1.05, attributed to non-operating gains received[16] - Financial expenses saw a significant increase of 191.95%, primarily due to currency depreciation and increased bank interest income[16] Corporate Developments - The company established a wholly-owned subsidiary, Shanghai Hongzhu Information Technology Co., Ltd., with a registered capital of 150 million RMB[19] - The company’s controlling shareholder changed to Shanghai Hongzi Enterprise Development Co., Ltd., with the actual controller now being Mr. Yang Xin[18] - The company did not report any new product launches or technological advancements during this quarter[41] - There were no significant market expansions or mergers and acquisitions mentioned in the report[41] Audit and Standards - The company did not undergo an audit for the Q1 2019 report, which remains unaudited[55] - The company is not applying new financial instrument standards or new revenue recognition standards for the first time[55]
宏达新材(002211) - 2018 Q4 - 年度财报
2019-01-31 16:00
Financial Performance - The company's operating revenue for 2018 was CNY 1,080,127,347.86, representing a 14.30% increase compared to CNY 945,030,111.48 in 2017[18] - The net profit attributable to shareholders for 2018 was CNY 11,132,386.06, a decrease of 45.50% from CNY 20,426,851.78 in 2017[18] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -12,514,541.11, a decline of 337.86% compared to CNY 5,261,339.94 in 2017[18] - The basic earnings per share for 2018 were CNY 0.0257, down 48.60% from CNY 0.05 in 2017[18] - The diluted earnings per share for 2018 were also CNY 0.0257, reflecting the same percentage decrease as the basic earnings per share[18] - The weighted average return on equity for 2018 was 1.40%, a decrease of 1.20% from 2.60% in 2017[18] - The company reported a net profit of 11,132,386.06 yuan for 2018, with a 0.00% dividend payout ratio[75] - The total comprehensive income for the year was CNY 12,739,945.68, compared to CNY 24,025,394.51 in the previous year, reflecting a decline of 47.1%[192] Cash Flow and Investments - The net cash flow from operating activities for 2018 was CNY 122,523,089.41, an increase of 10.29% from CNY 111,095,189.34 in 2017[18] - Operating cash inflow rose by 57.69% to 869,136,970.33 yuan in 2018, while operating cash outflow increased by 69.66% to 746,613,880.92 yuan[53] - Investment cash inflow surged by 172.81% to 303,233,715.64 yuan, primarily due to the recovery of matured financial products[54] - The company reported a significant increase in investment income, which reached CNY 54,769,574.56, compared to CNY 8,514,752.81 in the previous year[194] - The net cash flow from investment activities was 137,451,809.29 CNY, a turnaround from a negative cash flow of -150,532,370.78 CNY in the previous period, showcasing effective asset management[200] Assets and Liabilities - The total assets at the end of 2018 were CNY 1,182,498,466.22, a decrease of 0.91% from CNY 1,193,298,947.46 at the end of 2017[18] - The net assets attributable to shareholders at the end of 2018 were CNY 794,419,701.72, a slight increase of 0.08% from CNY 793,819,086.89 at the end of 2017[18] - The total current liabilities increased to CNY 387,686,014.50 from CNY 366,512,991.42, indicating a rise of 8.5%[184] - The total liabilities increased to CNY 388,078,764.50 from CNY 366,957,991.42, reflecting a growth of 5.5%[184] - The company’s total equity decreased to CNY 794,419,701.72 from CNY 826,340,956.04, a decline of approximately 3.9%[184] Operational Highlights - The gross profit margin for the main silicone rubber business decreased by 3.16 percentage points from 12.45% to 9.29%, resulting in a gross profit of 100.35 million yuan, down 17.33 million yuan year-on-year[32] - The sales volume of mixed rubber in 2018 was 41,609 tons, a slight decrease of 0.45% compared to 41,798 tons in 2017, while the inventory increased by 33.57%[42] - The company’s main raw material, DMC, experienced significant price fluctuations, impacting sales pricing and gross margins[32] - The company’s core competitiveness remains strong, with over 230 varieties of high-temperature silicone rubber products available[30] - The company’s total operating costs increased by 18.42% year-on-year, primarily due to rising raw material costs[40] Research and Development - The company’s research and development expenses rose by 27.05% to ¥38,155,324.49 in 2018, driven by increased spending on R&D materials[50] - R&D investment increased by 27.05% from 30,031,630.93 yuan in 2017 to 38,155,324.49 yuan in 2018, with R&D expenditure accounting for 3.53% of operating revenue[52] Governance and Compliance - The company has established independent financial departments and accounting systems to ensure financial autonomy and compliance with regulations[80] - Jiangsu Hongda New Materials is committed to maintaining independent operations, ensuring that its assets, personnel, and capabilities are distinct from those of its controlling shareholders[81] - The company guarantees that it will not engage in any business activities that could harm the interests of its minority shareholders during the control period[82] - The company has committed to fair and reasonable transaction principles in dealings with related parties[85] - The company has a robust governance structure, complying with relevant laws and regulations, and maintaining a high level of corporate governance[149] Shareholder Information - The total number of shares after the recent changes is 432,475,779, with a decrease of 437,500 shares in limited sale condition shares[118] - Shanghai Hongzi now holds 122,100,000 shares, representing 28.2328% of the total share capital, following the transfer from Weilen Investment[119] - The company has a total of 45,008 ordinary shareholders at the end of the reporting period[121] - The company has not undergone any changes in its controlling shareholder during the reporting period[124] Environmental and Social Responsibility - The company emphasizes environmental protection and has invested in technology upgrades to reduce emissions[111] - The company has not engaged in any poverty alleviation initiatives during the reporting year[112] Audit and Internal Control - The audit opinion for the financial statements was a standard unqualified opinion, indicating that the financial statements fairly reflect the company's financial position and operating results[168] - The company did not have any public bonds that were due or unable to be fully redeemed as of the annual report approval date[165] - The company has not identified any risks during the supervisory activities of the supervisory board during the reporting period[159]
宏达新材(002211) - 2018 Q3 - 季度财报
2018-10-23 16:00
Financial Performance - Operating revenue for the reporting period was ¥290,560,423.14, representing a year-on-year increase of 21.52%[8] - Net profit attributable to shareholders was ¥557,067.11, a decrease of 88.09% compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥4,727,852.26, a decline of 560.55% year-on-year[8] - The basic earnings per share for the reporting period was ¥0.0013, down 87.96% from the previous year[8] - The weighted average return on net assets was 0.07%, a decrease of 0.53% compared to the previous year[8] - The company reported a 30.58% decrease in cash and cash equivalents, totaling ¥25,803,982.24, due to reduced deposits[18] - The company’s basic earnings per share decreased by 87.96% to ¥0.0013, reflecting the overall decline in profitability[17] - The net profit attributable to shareholders for 2018 is expected to range from 1,000 to 2,000 million CNY, reflecting a decrease of 50.00% to 0.00% compared to the previous year's net profit of 2,042.69 million CNY[22] - The decline in profit is attributed to the drop in prices of key materials DMC and silicone rubber, as well as the temporary shutdown of the Yangzhong factory's raw rubber production due to relocation[22] Assets and Shareholder Information - Total assets at the end of the reporting period reached ¥1,239,097,385.88, an increase of 3.84% compared to the end of the previous year[8] - The company had a total of 48,967 common shareholders at the end of the reporting period[12] - Jiangsu Weilen Investment Management Co., Ltd. held 38.21% of the shares, with 60,000,000 shares pledged[12] - The company acquired minority equity in New Oriental, resulting in a 100% reduction in minority shareholder equity[18] Cash Flow and Financial Management - The net cash flow from operating activities for the year-to-date was ¥131,997,797.55, an increase of 106.99%[8] - Operating cash flow net amount increased by 106.99% to ¥131,997,797.55, driven by new financial products and a reduction in accounts receivable[18] - The company’s investment income increased by 41.27% to ¥14,787,154.94, driven by higher returns from financial products[18] - The company has invested a total of 69,381 million CNY in entrusted financial management, with no overdue amounts reported[26] - The company reported non-recurring gains totaling ¥12,160,992.29 for the year-to-date[9] - The company's financial income increased by 791.81% to ¥1,245,761.06, attributed to effective cash management strategies[18] Operational Changes and Future Plans - The company has signed a preliminary agreement for the transfer of shares with Shanghai Hongzi Enterprise Development Co., with the final transaction details still uncertain[19] - The Yangzhong factory is scheduled to complete its relocation to Tianchang City, Anhui Province, by the end of 2019, with the raw rubber production ceasing on September 1, 2018[19] - The company is actively purchasing raw rubber to ensure product supply during the relocation process, aiming to minimize the impact on performance[22] - The company has adjusted the total transaction price for acquiring minority shareholder equity from 49,993,300 CNY to 44,661,200 CNY, with all necessary registrations completed[19] - The company has not reported any overdue commitments or non-operating fund occupation by major shareholders during the reporting period[20][24] Research and Development - Research and development expenses rose by 39.51% to ¥29,311,675.50, reflecting increased investment in developing new product specifications[18]
宏达新材(002211) - 2018 Q2 - 季度财报
2018-08-27 16:00
Financial Performance - The company's operating revenue for the first half of 2018 was ¥552,324,380.46, representing a 25.15% increase compared to ¥441,315,680.63 in the same period last year[18]. - The net profit attributable to shareholders was ¥14,077,906.50, a decrease of 6.99% from ¥15,135,126.80 in the previous year[18]. - The net cash flow from operating activities surged by 819.66% to ¥126,557,788.88, compared to ¥13,761,380.40 in the same period last year[18]. - Total assets at the end of the reporting period were ¥1,262,557,428.86, reflecting a 5.80% increase from ¥1,193,298,947.46 at the end of the previous year[18]. - The company's net assets attributable to shareholders decreased slightly by 0.22% to ¥792,033,113.27 from ¥793,819,086.89 at the end of the previous year[18]. - The basic earnings per share were ¥0.0326, down 6.86% from ¥0.0350 in the same period last year[18]. - The company achieved a revenue of CNY 552.32 million in the first half of 2018, representing a year-on-year increase of 25.15% due to rising product prices[32]. - Gross profit for the period was CNY 55.95 million, an increase of CNY 2.1 million compared to the same period last year, indicating a growth of 3.75%[32]. - The net profit attributable to shareholders was CNY 14.08 million, remaining stable compared to the previous year[32]. - The company reported a net loss of CNY 691,356,371.09, slightly improved from a loss of CNY 705,434,277.59 in the previous period[111]. - The total profit for the first half of 2018 was CNY 15,834,179.45, down from CNY 17,575,790.73 in the same period of 2017, a decline of 9.9%[118]. Cash Flow and Investments - The company has increased its prepayments to ensure the supply of DMC, with prepayments rising by ¥1,531 million to ¥5,224 million[27]. - The company has increased its investment in financial products to enhance returns, resulting in other current assets rising by ¥7,364 million to ¥65,368 million[27]. - Operating cash flow for the period was CNY 126.56 million, a significant increase of 819.66% compared to the previous year, attributed to increased financial product management[35]. - The net cash flow from investing activities was negative at CNY -88,116,235.61, an improvement from CNY -139,251,157.66 in the prior year, showing a reduction in losses by about 36.7%[127]. - Cash inflow from investing activities totaled CNY 1,929,655,954.16, compared to CNY 1,712,712,880.56, marking an increase of approximately 12.7%[127]. - The cash outflow from investing activities was CNY 2,017,772,189.77, which is an increase from CNY 1,851,964,038.22, representing a rise of about 9%[127]. - The total cash and cash equivalents at the end of the period were CNY 63,349,440.73, up from CNY 33,182,790.50, reflecting an increase of approximately 90.9%[127]. Operational Changes and Risks - The company plans to relocate its Yangzhong factory to Tianchang City by the end of 2019, with production ceasing on September 1, 2018, to minimize impact on customer supply[33]. - The company faces risks related to raw material price fluctuations and environmental safety, which investors should be aware of[4]. - The company faces risks related to the relocation of its Yangzhong production base, which is scheduled to be completed by the end of 2019, with the silicone rubber production line ceasing operations on September 1, 2018[58]. - The company plans to mitigate risks by ensuring the Tianchang base is operational by the end of 2019 and sourcing raw materials from multiple channels to maintain product supply[58]. - The company is currently facing challenges with fluctuating raw material prices, particularly DMC, which could impact profit margins[58]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The total number of ordinary shareholders at the end of the reporting period was 47,590[92]. - Jiangsu Weilen Investment Management Co., Ltd. held 38.21% of the shares, amounting to 165,259,343 ordinary shares, with 60,000,000 shares pledged[92]. - The company's equity attributable to shareholders decreased slightly to CNY 792,033,113.27 from CNY 793,819,086.89, a decline of 0.2%[111]. - The total equity at the end of the current period is 31,196,821,322.00 CNY, indicating a decrease compared to the previous year[137]. Legal and Compliance Matters - The company is involved in a lawsuit with Jiangsu Honghua New Materials Co., Ltd. regarding a receivable amounting to 27,428,213.54 yuan, with a penalty of 3 million yuan for breach of contract[67]. - The company has reached a mediation agreement in the lawsuit, with the receivable aging over 5 years[67]. - The company has not encountered any bankruptcy restructuring matters during the reporting period[66]. - The company has not issued a standard audit report for the half-year financial report[65]. Accounting and Financial Reporting - The financial report for the first half of 2018 was not audited[106]. - The financial statements are prepared based on the going concern assumption and comply with the relevant accounting standards[151]. - The company has no significant factors affecting its ability to continue as a going concern within the next 12 months from the reporting date[152]. - The company uses Renminbi as its functional currency for accounting purposes[157]. - The company recognizes impairment losses for financial assets based on objective evidence of impairment, including significant financial difficulties of the issuer or debtor[173].
宏达新材(002211) - 2018 Q1 - 季度财报
2018-04-23 16:00
江苏宏达新材料股份有限公司 2018 年第一季度报告正文 证券代码:002211 证券简称:宏达新材 公告编号:2018-028 江苏宏达新材料股份有限公司 2018 年第一季度报告正文 1 江苏宏达新材料股份有限公司 2018 年第一季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整,不存在虚假记载、误导性陈述或者重大遗漏,并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人何百祥、主管会计工作负责人孙红梅及会计机构负责人(会计主 管人员)孙红梅声明:保证季度报告中财务报表的真实、准确、完整。 2 江苏宏达新材料股份有限公司 2018 年第一季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入(元) | 252,389,515.47 | 207,700,410.07 | 21.52% | | 归属于上市公司股东的净利 ...
宏达新材(002211) - 2017 Q4 - 年度财报
2018-03-29 16:00
Financial Performance - The company's operating revenue for 2017 was CNY 945,030,111.48, representing a 38.40% increase compared to CNY 682,811,661.99 in 2016[17]. - The net profit attributable to shareholders for 2017 was CNY 20,426,851.78, an increase of 85.05% from CNY 11,038,713.21 in 2016[17]. - The basic earnings per share for 2017 was CNY 0.05, up 66.67% from CNY 0.03 in 2016[17]. - Gross profit for the period was CNY 117.69 million, up from CNY 93.03 million, reflecting an increase of CNY 24.66 million[30]. - The net profit attributable to the parent company was CNY 20.43 million, an increase of CNY 9.39 million compared to CNY 11.04 million in 2016[30]. - The company reported a significant increase in non-recurring gains and losses, totaling CNY 15,165,511.84 for 2017[22]. - The company reported a total of 57,425,000 CNY in entrusted financial management, with no overdue amounts[90]. - The total revenue for the year 2017 was 28,385 million, indicating a significant growth trajectory[92]. - The total comprehensive income attributable to the parent company was ¥20,426,851.78, compared to ¥11,038,713.21 in the previous period, marking an increase of 85.1%[175]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 55.62% to CNY 111,095,189.34 from CNY 250,309,286.71 in 2016[17]. - The company’s cash flow from operating activities was CNY 111.10 million, a decrease of CNY 13.92 million from CNY 250.31 million in 2016[30]. - The company reported a significant decrease in cash and cash equivalents to CNY 37,171,884.42 from CNY 159,942,463.55, indicating a significant reduction in liquidity[162]. - The company received cash inflows from operating activities totaling ¥551,159,514.74, down 22.9% from ¥714,909,746.97 in the previous period[179]. - The net cash flow from operating activities was ¥11,672,774.23, a decrease of 79.1% compared to ¥55,761,702.11 in the previous period[182]. - Cash inflow from operating activities totaled ¥76,104,851.48, down 83.1% from ¥449,527,580.75 in the prior period[182]. - Cash outflow from operating activities was ¥64,432,077.25, a reduction of 83.7% compared to ¥393,765,878.64 last year[182]. Assets and Liabilities - Total assets at the end of 2017 were CNY 1,193,298,947.46, an increase of 11.75% from CNY 1,067,790,501.39 at the end of 2016[17]. - The net assets attributable to shareholders increased by 2.43% to CNY 793,819,086.89 from CNY 774,991,587.43 in 2016[17]. - The company’s total liabilities increased, with notes payable rising by 6.42% to CNY 294,534,907.40, representing 24.68% of total assets, up from 18.26%[52]. - The company’s fixed assets decreased by 3.90% to CNY 166,653,246.61, accounting for 13.97% of total assets, down from 17.87%[52]. - The total liabilities were CNY 69,308,420.00, compared to CNY 50,696,970.33 in the previous year, showing an increase of 36.7%[168]. - The company's equity attributable to shareholders was CNY 793,819,086.89, up from CNY 774,991,587.43, reflecting a growth of 2.0%[168]. Operational Insights - Domestic sales accounted for 89.86% of total revenue, amounting to CNY 849.23 million, a 40.38% increase year-on-year[34]. - The company has a diverse product range with over 230 types of high-temperature silicone rubber, catering to various market needs[28]. - The inventory of mixed rubber decreased by 39.43%, indicating a supply-demand imbalance[38]. - The company maintains stable relationships with major raw material suppliers, ensuring a steady supply chain[28]. - The company plans to closely monitor material prices and enhance technology development to increase market share and profitability[30]. Risks and Challenges - The company faced risks including rising prices of key raw materials and environmental safety risks[4]. - The company is facing risks related to significant fluctuations in material prices, particularly for DMC, which has seen high prices due to industry consolidation[61]. - The proportion of raw materials in the cost structure increased due to a significant rise in raw material prices, while labor and manufacturing costs decreased[40]. Corporate Governance - The company did not experience any significant changes in its business, products, or services during the reporting period[42]. - The company has maintained its accounting firm, Jiangsu Gongzheng Tianye Accounting Firm, for 15 years, with an audit fee of CNY 550,000[74]. - The company has not engaged in any significant related party transactions during the reporting period[79]. - The independent directors attended all board meetings, with no objections raised against company matters during the reporting period[137]. - The audit committee convened 4 times to review financial reports, ensuring transparency and accountability[139]. Research and Development - Research and development investment increased by 40.39% to ¥30,031,630.93, which accounted for 3.18% of operating revenue[48]. - The number of R&D personnel decreased by 5.36% to 53, representing 10.56% of the total workforce[48]. - The company emphasizes employee training and development, combining internal and external training methods[128]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for the fiscal year[66]. - The largest shareholder, Jiangsu Weilen Investment Management Co., Ltd., holds 38.21% of the shares, totaling 165,259,343 shares[109]. - The company reported no changes in its controlling shareholder during the reporting period[110]. - The actual controller of the company is Zhu Dehong, a domestic natural person, with no changes reported during the period[111].
宏达新材(002211) - 2017 Q3 - 季度财报
2017-10-27 16:00
Financial Performance - Operating revenue for the reporting period was ¥239,095,765.94, representing a growth of 40.04% year-on-year[8] - Net profit attributable to shareholders was ¥4,678,776.60, a significant increase of 186.85% compared to the same period last year[8] - The net profit after deducting non-recurring gains and losses was ¥1,026,567.01, up 139.15% year-on-year[8] - Basic earnings per share were ¥0.0108, reflecting an increase of 186.40% compared to the same period last year[8] - The company's operating revenue for the first three quarters of 2017 reached 680.41 million yuan, a 49.26% increase compared to 455.85 million yuan in the same period of 2016[17] - The net profit attributable to shareholders for 2017 is expected to be between 20 million and 25 million yuan, representing a growth of 80.00% to 120.00% compared to 11.04 million yuan in 2016[23] Assets and Cash Flow - Total assets at the end of the reporting period reached ¥1,134,011,680.86, an increase of 6.20% compared to the previous year[8] - The net cash flow from operating activities for the year-to-date was ¥63,769,066.83, down 65.92% compared to the previous year[8] - The company's cash and cash equivalents decreased by 86.79% to 21.13 million yuan as of September 30, 2017, due to increased investments in financial products[17] - The accounts receivable increased by 105.91% to 20.53 million yuan, indicating a higher volume of unutilized acceptance bills at the end of the period[17] - The company purchased financial institution wealth management products totaling 512.22 million yuan, with an investment income of 9.88 million yuan for the first three quarters[18] - The company has a balance of 150.08 million yuan in bond reverse repurchase products, which are secured by bonds held in custody[19] Shareholder Information - The total number of shareholders at the end of the reporting period was 51,861[12] - The largest shareholder, Jiangsu Weilen Investment Management Co., Ltd., held 38.21% of the shares, amounting to 165,259,343 shares[12] Non-Recurring Items - Non-recurring gains and losses totaled ¥10,474,135.94 for the year-to-date[9] - The company reported a significant increase in tax refunds received, amounting to 176.58 thousand yuan, a 1193.53% increase compared to 13.65 thousand yuan in the previous year[17] Compliance and Governance - The company has no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[22] - The company has no violations regarding external guarantees during the reporting period[24] - No research, communication, or interview activities were conducted during the reporting period[26] - The company is identified as Jiangsu Hongda New Materials Co., Ltd.[27] Return on Assets - The weighted average return on net assets was 0.60%, a decrease of 1.31% compared to the previous year[8]