1 深圳市格林美高新技术股份有限公司 2014 年半年度报告全文 深圳市格林美高新技术股份有限公司 2014 年半年度报告 股票代码：002340 股票简称：格林美 披露日期：2014 年 8 月 8 日 深圳市格林美高新技术股份有限公司 2014 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和 连带的法律责任。 除下列董事外，其他董事亲自出席了审议本次半年报的董事会会议。 | 未亲自出席 | 未亲自出席 | 未亲自出席 | 被委托人姓名 | | --- | --- | --- | --- | | 董事姓名 | 董事职务 | 会议原因 | | | 李映照 | 独立董事 | 出国 | 杜庆山 | 公司计划不派发现金红利，不送红股，不以公积金转增股本。 公司负责人许开华、主管会计工作负责人宋万祥及会计机构负责人(会计主 管人员)宋万祥声明：保证本半年度报告中财务报告的真实、准确、完整。 2 | 第一节 | 重要提示、目录和释义 | 2 | | --- | --- | --- | ...

Financial Performance - The company's operating revenue for Q1 2014 was ¥755,622,963.19, representing a 41.01% increase compared to ¥535,852,797.76 in the same period last year[8] - Net profit attributable to shareholders for Q1 2014 was ¥34,094,150.35, a 53.5% increase from ¥22,211,682.01 in the previous year[8] - The net profit after deducting non-recurring gains and losses was ¥12,869,752.92, showing a 4.88% increase from ¥12,271,042.28 year-on-year[8] - Basic earnings per share for Q1 2014 was ¥0.05, up 25% from ¥0.04 in the previous year[8] - The company expects net profit attributable to shareholders for the first half of 2014 to range from 9,286.12 to 12,143.39 million yuan, representing a year-on-year increase of 30% to 70%[20] Cash Flow and Assets - The net cash flow from operating activities was -¥298,367,484.11, a decline of 74.97% compared to -¥170,525,476.63 in the same period last year[8] - Cash and cash equivalents decreased by 49.21% compared to the beginning of the period, primarily due to increased operational funding needs as the business scale expanded[16] - Total assets at the end of the reporting period were ¥7,861,894,170.61, a 1.62% increase from ¥7,736,608,833.16 at the end of the previous year[8] - Net assets attributable to shareholders at the end of the reporting period were ¥2,372,485,078.34, reflecting a 1.46% increase from ¥2,338,416,229.27 at the end of the previous year[8] Shareholder Information - The total number of shareholders at the end of the reporting period was 45,832[12] - The largest shareholder, Shenzhen Huifengyuan Investment Co., Ltd., held 19.11% of the shares, amounting to 143,993,408 shares, with 87,300,000 shares pledged[12] Operational Highlights - Operating revenue increased by 41.01% year-on-year, driven by the release of capacity in the electronic waste business and expansion in the recycling industry[16] - Operating costs increased by 46.69% year-on-year, corresponding to the growth in sales revenue[16] - Investment income increased by 158.57% year-on-year, primarily due to profits from investments in Wuxi Qingmei Tongda Lithium Energy Company[16] - Cash received from other operating activities increased by 81.56% year-on-year, mainly due to increased government subsidies and interest income[17] Challenges and Impairments - The company reported a 109.44% year-on-year increase in asset impairment losses, primarily due to a significant increase in accounts receivable[16] - Net cash flow from operating activities decreased by 74.97% year-on-year, mainly due to increased expenditures related to business scale growth[17] Future Outlook - The company anticipates significant growth in the dismantling of scrapped household appliances and further enhancement of profitability in precious metal projects[20] - The company received government subsidies amounting to ¥21,282,197.79 during the reporting period[10]

Financial Performance - The company's operating revenue for 2013 was CNY 3,486,028,287.86, representing a 145.77% increase compared to CNY 1,418,421,038.62 in 2012[24]. - The net profit attributable to shareholders for 2013 was CNY 144,115,088.86, a 7.04% increase from CNY 134,635,571.01 in 2012[24]. - The net cash flow from operating activities improved significantly to CNY 22,894,497.52, compared to a negative cash flow of CNY -250,631,873.37 in 2012, marking a 109.13% increase[24]. - Total assets at the end of 2013 reached CNY 7,736,608,833.16, a 21.83% increase from CNY 6,350,336,886.65 at the end of 2012[24]. - The company's basic earnings per share for 2013 was CNY 0.19, up 5.56% from CNY 0.18 in 2012[24]. - The weighted average return on equity for 2013 was 6.32%, slightly up from 6.13% in 2012[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 60,585,858.42, a decrease of 5.39% from CNY 64,035,690.50 in 2012[24]. - The company's net assets attributable to shareholders at the end of 2013 were CNY 2,338,416,229.27, a 5.15% increase from CNY 2,223,830,018.29 at the end of 2012[24]. Revenue and Sales Growth - In 2013, the company achieved a sales revenue of 348,602.28 million CNY, representing a year-on-year growth of 145.77%[34]. - The sales volume of cobalt-nickel powder reached 3,055.60 tons, up by 2.04%, while sales of ternary battery materials increased by 53.13% to 800.63 tons[34]. - The electronic waste business generated sales revenue of 45,225.08 million CNY, marking a significant growth of 139.18%[35]. - The sales volume of waste resource utilization reached 26,183.47 tons, a year-on-year increase of 141.25%, while production volume increased by 147.96% to 26,734.29 tons[51]. Research and Development - In 2013, the company applied for 98 new patents and established a technical and standard system for recycling precious metals[39]. - The company’s R&D investment amounted to 93,992,377.38 yuan, a 31.29% increase from the previous year, although the ratio of R&D investment to operating revenue decreased by 46.58% due to significant revenue growth[60]. - The total R&D expenses for 2013 amounted to CNY 93,992,377.38, with all projects meeting their expected targets[62]. - The company has established multiple R&D platforms, including national and provincial engineering research centers, enhancing its innovation capabilities in the recycling sector[75]. Operational Efficiency and Cost Management - The company implemented comprehensive cost control measures to optimize internal governance and improve operational efficiency[44]. - The company’s total cost of sales was 2,908,462,167.66 yuan, with a significant increase in costs associated with electronic waste and copper production[55]. - Sales expenses rose by 41.61% to 31,769,576.79 yuan, primarily due to increased transportation and material consumption costs[58]. - Management expenses increased by 36.35% to 226,083,341.90 yuan, driven by higher employee benefits and R&D expenditures[59]. - The company’s gross profit margin improved as a result of effective management and expansion strategies, enhancing overall profitability[45]. Market Position and Competitive Advantage - The company has been recognized as a national "urban mining" demonstration base, enhancing its competitive position in the circular economy sector[42]. - The company’s electronic waste business contributed a gross profit margin of 21.09%[35]. - The company is focusing on expanding its market presence and enhancing its core competitiveness through technological innovation and strategic planning[47]. - The company has developed a comprehensive recycling system covering over 100 cities and counties in China, enhancing its waste material sourcing capabilities[77]. Future Plans and Strategic Initiatives - The company aims to establish a world-class urban mining demonstration base for strategic scarce resources and become a leading comprehensive utilization business for electronic waste and scrap automobiles in China[103]. - The company plans to raise up to 2.569 billion yuan through a private placement to fund seven new projects, including the recycling of scrapped vehicles, and to optimize its financial structure[113]. - The company is committed to optimizing its capital structure to reduce financial management costs and enhance profitability[105]. - The company plans to construct a national postdoctoral research station and an electronic waste resource engineering technology research center to enhance its R&D capabilities[110]. Corporate Governance and Shareholder Relations - The company has a three-year shareholder return plan to ensure the continuity and stability of its profit distribution policy[119]. - The company has established a supplier management office to strictly control procurement costs and enhance the efficiency of its supply chain[112]. - The company has maintained a strict confidentiality policy regarding insider information, limiting the number of individuals with access[127]. - The company has not reported any overdue principal or income from entrusted financial management, totaling RMB 20,000,000[84]. Social Responsibility and Compliance - The company is committed to corporate social responsibility, as evidenced by the publication of its annual social responsibility report[128]. - The company has no significant litigation or arbitration matters during the reporting period[133]. - The company has not faced any media scrutiny during the reporting period[134]. - The company has no significant social safety issues and is not classified as a heavily polluting industry by national environmental protection authorities[129].