HYCAN HOLDINGS(002787)

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华源控股(002787) - 2022 Q2 - 季度财报
2022-08-25 16:00
Financial Performance - The company reported a total revenue of RMB 500 million for the first half of 2022, representing a year-on-year increase of 15%[19] - The net profit attributable to shareholders was RMB 80 million, up 10% compared to the same period last year[19] - The company's operating revenue for the reporting period was approximately ¥1.09 billion, a decrease of 2.55% compared to the same period last year[24] - Net profit attributable to shareholders increased by 16.67% to approximately ¥37.29 million, compared to ¥31.96 million in the previous year[24] - The net profit after deducting non-recurring gains and losses was approximately ¥9.95 million, a significant decrease of 65.21% from ¥28.61 million in the same period last year[24] - The company reported a net profit margin of approximately 1.6% for the first half of 2022, compared to 4.1% in the same period of 2021[166] - The total profit for the first half of 2022 was CNY 38.28 million, slightly down from CNY 38.85 million in the previous year, a decrease of 1.5%[168] - The company reported a net profit of 87.76 million for the first half of 2022, which is a decrease of 13.8% compared to the same period last year[179] - The net profit attributable to shareholders for the first half of 2022 was 87.719 million yuan, down from 205.50 million yuan in the same period of 2021, reflecting a decrease of about 57.4%[181] Revenue and Sales - The company expects revenue growth to continue at a rate of 12% for the second half of 2022[19] - The company has successfully launched two new products in the first half of 2022, contributing to a 5% increase in overall sales[19] - The revenue from metal packaging increased by 2.58% year-on-year, while revenue from plastic packaging decreased by 18.03%[51] - The revenue share of metal lids in the food packaging segment is gradually increasing, with the company focusing on expanding this business to become a key revenue source[34] - The company reported a total revenue of 141.21 million yuan from its subsidiary, Xianing Huayuan, with a net profit of 6 million yuan, contributing significantly to the overall performance[71] - The company’s revenue from its subsidiary, Changzhou Ruijie, was 216.38 million yuan, with a net profit of 7.93 million yuan, indicating strong performance in the plastic packaging sector[71] Investment and Development - The company plans to invest RMB 200 million in new product development and technology research in the upcoming year[19] - The company plans to increase investment in research and development and production capacity in the food packaging sector, which is expected to become a new profit growth point[32] - Research and development investment increased by 5.51% to approximately ¥40.20 million, reflecting the company's commitment to innovation[49] - The company is focusing on enhancing its technological capabilities through R&D investments, aiming for a 10% increase in R&D spending in the next fiscal year[179] - The company has initiated research and development for new technologies aimed at enhancing operational efficiency and product offerings[182] Market Strategy - The company has outlined a market expansion strategy targeting Southeast Asia, aiming for a 30% increase in market share by 2023[19] - The company plans to expand its production capacity and improve product quality through flexible automation and R&D, aiming to increase market share in chemical cans[34] - The company plans to focus on market expansion and new product development in the upcoming quarters to improve performance[182] - The management expressed optimism about future growth prospects despite the current financial challenges, emphasizing strategic adjustments and market opportunities[182] Risk Management - The management has identified key risks including supply chain disruptions and has implemented measures to mitigate these risks[19] - The company is facing risks from fluctuations in raw material prices, particularly tinplate and plastic granules, which could impact profitability[73] - The company faces risks related to large inventory balances, which could impact liquidity and operational performance if inventory management does not improve[77] - The company has established a robust credit assessment and accounts receivable management system, but there remains a risk of bad debt losses as the customer base and total accounts receivable grow[77] Shareholder Information - No cash dividends or stock bonuses will be distributed to shareholders for this reporting period[7] - The company has not distributed cash dividends or issued bonus shares for the reporting period, indicating a focus on reinvestment[83] - The company repurchased a total of 12,700,000 shares, representing 4.02% of the total share capital, with a total expenditure of RMB 72,672,579.60[127] - The major shareholder, Li Zhichong, holds 35.48% of the shares, amounting to 112,123,870 shares, with 56,080,000 shares pledged[132] Financial Position - Total assets at the end of the reporting period were approximately ¥2.92 billion, an increase of 1.89% from the previous year-end[24] - The total assets at the end of the reporting period were 727.3 million yuan, indicating a stable financial position[184] - The company's debt-to-asset ratio increased to 45.80% from 44.69% year-over-year, reflecting a 1.11% increase[153] - The total current assets as of June 30, 2022, amounted to approximately 1.77 billion yuan, an increase from 1.69 billion yuan at the beginning of the year[158] Compliance and Governance - The company has actively complied with environmental regulations and integrated sustainability into its strategic decisions, reflecting a commitment to social responsibility[88] - The company has not reported any significant legal disputes or non-compliance issues during the reporting period, indicating a stable operational environment[96] - The company has not engaged in any related party transactions during the reporting period, ensuring transparency in its financial dealings[98] Cash Flow - The net cash flow from operating activities improved to approximately ¥126.76 million, a turnaround from a negative cash flow of ¥184.44 million in the previous year, representing an increase of 168.73%[24] - The net cash flow from operating activities for the first half of 2022 was ¥126,760,993.81, a significant improvement compared to a net outflow of ¥184,435,080.43 in the same period of 2021[173] - The total cash and cash equivalents at the end of the first half of 2022 stood at ¥282,081,083.50, an increase from ¥154,864,722.61 at the end of the first half of 2021[174]
华源控股(002787) - 2022 Q1 - 季度财报
2022-04-26 16:00
Revenue and Profit - Revenue for Q1 2022 was CNY 526,139,705.40, an increase of 9.54% compared to CNY 480,305,947.31 in the same period last year[3] - Net profit attributable to shareholders decreased by 42.51% to CNY 3,205,409.61 from CNY 5,575,741.81 year-on-year[3] - Total operating revenue for the first quarter was CNY 526,139,705.40, an increase of 9.57% compared to CNY 480,305,947.31 in the previous year[16] - Net profit for the quarter was CNY 3,262,873.65, a decrease of 42.38% from CNY 5,640,450.01 in the same period last year[17] - Total comprehensive income for the period was CNY 3,262,764.36, compared to CNY 5,640,634.42 in the previous period, representing a decrease of approximately 42.5%[18] - Basic earnings per share were CNY 0.01, down from CNY 0.02 in the previous period[18] - Diluted earnings per share were also CNY 0.01, compared to CNY 0.02 in the previous period[18] Cash Flow - Net cash flow from operating activities improved by 86.21%, reaching CNY -18,521,447.55 compared to CNY -134,323,819.80 in the previous year[6] - Cash inflow from operating activities totaled CNY 550,254,510.66, up from CNY 487,665,862.11 in the previous period, indicating a growth of about 12.8%[21] - Cash outflow from operating activities was CNY 568,775,958.21, down from CNY 621,989,681.91, showing a decrease of approximately 8.6%[21] - Cash flow from investing activities resulted in a net outflow of CNY -24,629,286.50, an improvement from CNY -150,137,109.70 in the previous period[22] - Cash flow from financing activities showed a net outflow of CNY -31,428,780.84, compared to a net inflow of CNY 143,201,603.83 in the previous period[22] - The ending balance of cash and cash equivalents was CNY 195,223,383.56, compared to CNY 175,264,088.71 in the previous period, reflecting an increase of approximately 11.4%[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,840,205,635.85, a decrease of 0.75% from CNY 2,861,736,955.36 at the end of the previous year[3] - Current assets totaled CNY 1,683,226,097.51, slightly down from CNY 1,693,415,883.96 at the start of the year, a decrease of 0.18%[12] - The company's total assets decreased to CNY 2,840,205,635.85 from CNY 2,861,736,955.36 at the beginning of the year, a decline of 0.75%[14] - The total liabilities decreased to CNY 1,253,973,095.22 from CNY 1,278,778,004.63, a reduction of 1.94%[14] Expenses - Total operating costs amounted to CNY 521,425,088.69, up from CNY 467,278,791.58, reflecting a year-over-year increase of 11.58%[16] - Sales expenses for the period were CNY 5,045,484.46, down 37.16% year-on-year, attributed to reduced travel by sales personnel due to the pandemic[8] - The company’s R&D expenses for the quarter were CNY 18,216,855.36, compared to CNY 17,663,414.69 in the previous year, reflecting an increase of 3.13%[17] - Investment income decreased by 39.72% to CNY 162,773.29, primarily due to reduced financial investments[8] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 17,269, with no preferred shareholders[7] Other Financial Metrics - The weighted average return on equity was 0.20%, down from 0.35% in the same period last year, a decrease of 0.15%[3] - The company reported a decrease in net profit margin due to fluctuations in raw material prices[8] - The company’s contract liabilities increased by 42.47% to CNY 2,855,677.12, reflecting an increase in advance payments received[8] - The company reported a significant increase in accounts receivable, which rose to CNY 596,822,917.51 from CNY 507,923,118.32, representing an increase of 17.43%[12] - Inventory levels increased to CNY 455,104,990.77 from CNY 417,444,273.05, marking a rise of 9.01%[12] - The company did not conduct any mergers or acquisitions during the reporting period, with no net profit reported from merged entities[18]
华源控股(002787) - 2021 Q4 - 年度财报
2022-04-21 16:00
Financial Performance - The company's operating revenue for 2021 was approximately ¥2.35 billion, representing a year-over-year increase of 31.78% compared to ¥1.78 billion in 2020[21]. - The net profit attributable to shareholders for 2021 was approximately ¥17.58 million, a decrease of 62.20% from ¥46.51 million in 2020[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥3.25 million, down 90.09% from ¥32.82 million in 2020[21]. - The net cash flow from operating activities increased significantly by 307.55% to approximately ¥81.16 million from ¥19.91 million in 2020[21]. - The total assets at the end of 2021 were approximately ¥2.86 billion, an increase of 11.92% compared to ¥2.56 billion at the end of 2020[21]. - The company reported a basic earnings per share of ¥0.06 for 2021, down 60.00% from ¥0.15 in 2020[21]. - The weighted average return on equity for 2021 was 1.11%, a decrease of 1.90% from 3.01% in 2020[21]. - The total revenue for the reporting period was approximately 166.965 million, with a net profit of around 4.831 million, indicating a significant performance[132]. Business Operations - The company has expanded its main business to include plastic packaging production and sales following the acquisition of Ruijie Technology in 2018[20]. - The company operates in the packaging industry, focusing on metal and plastic packaging, with a complete production and service capability across the entire industry chain[36]. - The company has established a leading position in the chemical can sector, becoming one of the largest and most profitable enterprises in China[36]. - The company has a stable high-end customer base in the metal packaging sector, including major international chemical companies[42]. - The company has developed a mature product operation mechanism in the plastic packaging business, serving well-known domestic and international clients[42]. - The company has a complete product series with over 1,000 varieties in metal packaging, covering standard specifications from 0.25L to 42L, and has the capability to produce chemical cans with tinplate thickness ranging from 0.14mm to 0.50mm[45]. - The company has established strategic cooperation agreements with major suppliers like China Baowu Steel Group for tinplate, ensuring favorable procurement prices[43]. - The company has a complete business chain that allows for timely and rapid response to customer needs, enhancing its profitability[47]. Research and Development - The company emphasizes R&D, with independent facilities and strategies aligned with market and technology trends[41]. - The company has invested significantly in technology innovation and has established an advanced R&D center, holding multiple patents that provide a competitive edge in the packaging industry[49]. - Research and development expenses amounted to CNY 86.01 million, accounting for 3.66% of total operating revenue[55]. - The company has over 300 authorized patents, including more than 60 invention patents[55]. - The company has implemented several major R&D projects aimed at optimizing product performance and enhancing production efficiency[74]. - The company's R&D investment amounted to ¥86,014,233.83 in 2021, representing a 23.69% increase from ¥69,542,178.39 in 2020[76]. Market Position and Industry Trends - The packaging industry in China saw a total revenue of approximately ¥1.2 trillion in 2021, with a year-over-year growth of 16.39%[31]. - The company is positioned to benefit from the growing demand in the packaging industry, particularly in plastic and metal packaging sectors, which saw revenue increases of 11.51% and 25.61% respectively[31]. - The government has set ambitious targets for the packaging industry, aiming for an annual revenue of ¥2.5 trillion by the end of the 13th Five-Year Plan[32]. - The global plastic packaging market experienced a compound annual growth rate of 5.2% from 2014 to 2020, indicating strong market potential[34]. Risk Management - The company’s future plans and forecasts are subject to risks, and investors are advised to understand the differences between plans, forecasts, and commitments[5]. - The company’s management discussion and analysis section outlines potential operational risks and corresponding mitigation strategies[5]. - The company faces risks from economic fluctuations and raw material price volatility, which could impact profitability[103]. - The company has recognized goodwill impairment of CNY 8.39 million related to its acquisition of Ruijie Technology, with remaining goodwill of CNY 10.88 million[103]. - The company faces risks related to concentrated sales customers, as changes in their operating environment could adversely affect the company's financial status[104]. - The company has significant inventory and accounts receivable balances, which could impact liquidity and operational performance if not managed effectively[105]. Governance and Compliance - The company adheres to strict governance practices, ensuring compliance with relevant laws and regulations, and enhancing transparency for shareholders[114]. - The company has established a complete and independent financial department, with independent accounting systems and financial management practices, ensuring no financial support is provided to controlling shareholders[125]. - The company has a complete independent governance structure, including a shareholders' meeting, board of directors, and supervisory board, adhering to legal regulations[123]. - The company has established a robust human resources management system, ensuring independent labor contracts with employees[121]. - The company has a clear delineation of responsibilities among departments, promoting effective coordination and management[123]. - The company is committed to maintaining transparency and accountability in its governance practices, ensuring that remuneration plans are approved by shareholders[135]. Employee Relations - The company has established a stable and harmonious relationship with employees, providing a diverse training system and regular health check-ups to enhance employee cohesion[168]. - The company has a competitive salary management system that links employee compensation to performance, position, and qualifications, aiming to attract and retain talent[147]. - The professional composition of employees includes 1,209 production personnel, 224 technical personnel, and 73 sales personnel, reflecting a strong operational focus[146]. - The company emphasizes talent development through annual training plans, addressing various skills and management needs[148]. Environmental Responsibility - The company emphasizes environmental protection and sustainable development, implementing new technologies and processes for resource recycling[164]. - The company has strengthened the awareness and responsibility of internal control among the board and key positions to enhance risk prevention and management quality[157]. - The company has not encountered any major environmental pollution incidents during the reporting period, adhering to national environmental protection standards[164]. - The company emphasizes environmental protection and energy conservation, strictly implementing the ISO 14001 environmental management system[170]. Investments and Acquisitions - The company completed the acquisition of Suzhou Zhanrui International Trade Co., expanding its consolidated financial reporting scope[69]. - The company has reported a net asset acquisition of Suzhou Zhanrui International Trade Co., Ltd., expanding the scope of consolidated financial statements[180]. - The company has not engaged in any violations regarding external guarantees during the reporting period[178]. - The company has not faced any delisting situations following the annual report disclosure[181].
华源控股(002787) - 2021 Q3 - 季度财报
2021-10-25 16:00
Financial Performance - The company's revenue for Q3 2021 reached ¥597,488,207.04, representing a 13.65% increase year-over-year, and a total revenue of ¥1,719,625,825.04 for the year-to-date, up 37.37% compared to the same period last year[3] - Net profit attributable to shareholders for Q3 2021 was ¥28,077,638.53, a slight increase of 0.30% year-over-year, with a year-to-date net profit of ¥60,041,341.71, up 3.83%[3] - Operating income for Q3 2021 was reported at ¥1,719,625,825.04, with operating costs rising by 41.48% to ¥1,452,797,630.55, largely due to the impact of the previous year's pandemic[7] - Total operating revenue for Q3 2021 reached ¥1,719,625,825.04, an increase of 37.3% compared to ¥1,251,792,354.54 in Q3 2020[18] - Net profit for Q3 2021 was ¥60,396,637.55, representing a 3.7% increase from ¥58,325,576.92 in Q3 2020[19] - The total comprehensive income for Q3 2021 was ¥60,396,480.57, compared to ¥58,325,091.74 in Q3 2020, showing a growth of 3.5%[19] Cash Flow - The company's cash flow from operating activities showed a net outflow of ¥245,719,857.57, a significant decline of 855.74% compared to the same period last year[3] - Operating cash inflow for the period reached CNY 1,780,742,267.03, an increase from CNY 1,369,632,746.49 in the previous period[20] - Net cash flow from operating activities was negative at CNY -245,719,857.57, compared to a positive CNY 32,513,701.49 last year[20] - Cash inflow from investment activities totaled CNY 251,012,590.10, down from CNY 631,222,723.26 in the previous year[22] - Net cash flow from investment activities was CNY -127,252,021.89, an improvement from CNY -352,414,038.37 in the same period last year[22] - Cash inflow from financing activities was CNY 714,970,677.78, significantly higher than CNY 274,000,000.00 in the previous year[22] - Net cash flow from financing activities was CNY 304,982,663.14, compared to a negative CNY -6,678,244.40 last year[22] Assets and Liabilities - Total assets at the end of Q3 2021 amounted to ¥3,099,877,397.92, reflecting a 21.24% increase from the end of the previous year[3] - Total current assets as of September 30, 2021, amounted to CNY 1,856,717,583.03, an increase from CNY 1,472,261,431.05 as of December 31, 2020, reflecting a growth of approximately 26.1%[13] - Total assets reached CNY 3,099,877,397.92, up from CNY 2,556,836,617.82, which is an increase of about 21.4%[14] - The total liabilities increased to ¥1,474,296,615.58, compared to ¥975,054,038.17 in the previous year, reflecting a growth of 51.2%[18] - The company’s total liabilities increased, with accounts payable rising to CNY 232,830,843.90 from CNY 163,257,700.39, which is an increase of approximately 42.5%[14] - Current liabilities totaled ¥649,001,427.08, indicating a slight increase in short-term obligations[26] - Non-current liabilities were reported at ¥326,052,611.09, showing a significant decrease from the previous period[26] Shareholder Information - The company’s major shareholders include Li Zhichong with a 36.44% stake and Li Bingxing with 11.94%, indicating concentrated ownership[10] Research and Development - Research and development expenses for Q3 2021 were ¥59,550,481.08, marking a 31.50% increase year-over-year, indicating a commitment to enhancing innovation[7] - Research and development expenses increased to ¥59,550,481.08, a rise of 31.5% from ¥45,285,210.04 in Q3 2020[18] Other Financial Metrics - The weighted average return on equity for Q3 2021 was 1.74%, a slight decrease of 0.05% compared to the previous year[3] - Earnings per share remained stable at ¥0.19 for both Q3 2021 and Q3 2020[19] - The company reported an investment income of ¥842,260.10, down from ¥4,136,733.18 in the previous year[18] - The company reported a retained earnings of ¥406,505,591.99, contributing to overall equity growth[27] Audit and Compliance - The company did not conduct an audit for the third quarter report, which may affect the reliability of the financial data presented[30] - The company adopted the new leasing standards starting January 1, 2021, impacting the balance sheet with a lease liability of ¥108,206,159.36[29] - The average incremental borrowing rate used for lease liabilities was 6.09%[29] - The company has no financing leases prior to the implementation of the new leasing standards, indicating a shift in leasing strategy[28]
华源控股(002787) - 2021 Q2 - 季度财报
2021-08-26 16:00
Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,122,137,618, representing a 54.55% increase compared to CNY 726,055,635 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was CNY 31,963,703, an increase of 7.14% from CNY 29,833,376 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 28,610,018, up 18.05% from CNY 24,235,626 in the same period last year[20]. - The company's operating revenue for the reporting period reached ¥1,122,137,618, representing a 54.55% increase compared to ¥726,055,635 in the same period last year[38]. - Operating profit for the first half of 2021 was ¥39,702,604, representing a 6.5% increase from ¥36,507,264 in the first half of 2020[149]. - Net profit attributable to the parent company for the first half of 2021 was ¥31,963,703, up 7.6% from ¥29,833,376 in the same period of 2020[149]. - The total comprehensive income for the current period is 94,462,000 yuan, compared to a loss of 15,791,000 yuan in the previous period, indicating a significant recovery[170]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -184,435,080, a decline of 401.83% compared to CNY 61,104,648 in the previous year[20]. - The cash flow from operating activities showed a significant decline, amounting to -¥184,435,080, a 401.83% decrease compared to ¥61,104,648 in the previous year[38]. - Cash inflow from investment activities totaled ¥200,954,590.10, down from ¥450,712,332.00 in the previous year[158]. - Net cash flow from financing activities was ¥171,720,071.03, compared to -¥1,837,717.86 in the first half of 2020[158]. - The company reported a net increase in cash and cash equivalents of -¥161,642,912.41, compared to -¥189,781,214.07 in the same period last year[158]. - Cash and cash equivalents at the end of the period stood at ¥154,864,722.61, down from ¥245,802,275.28 at the end of the previous year[158]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,968,513,679.46, reflecting a 16.10% increase from CNY 2,556,836,617.82 at the end of the previous year[20]. - The company's total assets at the end of the reporting period were ¥2,971,000,000, with cash and cash equivalents decreasing by 6.20% to ¥185,276,486.5[47]. - Total liabilities increased to 1,370,197,823.97 from 975,054,038.17, indicating a rise in total liabilities[141]. - Total equity increased to 1,598,315,855.49 from 1,581,782,579.65, showing a slight growth in equity[142]. - The total liabilities at the end of the reporting period were 5,705 million yuan, maintaining a manageable debt level[164]. Research and Development - Research and development investment rose by 47.01% to ¥38,105,136, reflecting the company's commitment to innovation[38]. - Research and development expenses for the first half of 2021 were ¥38,105,136, up 47.1% from ¥25,920,165 in the same period of 2020[147]. Business Strategy and Market Position - The company’s main business remains unchanged, focusing on the research, production, and sales of packaging products, with a complete industrial chain in metal and plastic packaging[28]. - The company aims to enhance its food packaging segment, which includes metal lids and food cans, as a new profit growth point, with significant investments in R&D and capacity expansion planned[28]. - The company has established a first-class food safety control system and has participated in multiple international and domestic standards[28]. - The company’s core competitiveness includes a complete business chain that allows for quick response to customer needs, enhancing profitability[34]. - The company has a stable high-end customer base in the metal packaging sector, including major international chemical coating companies[34]. - The company plans to further improve and extend its existing business chain to provide comprehensive packaging solutions to downstream customers[34]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, raw material price volatility, and potential goodwill impairment from past acquisitions[57][58][60]. - The company has detailed the risks it faces and corresponding countermeasures in the management discussion section of the report[5]. - The company plans to expand production and sales scale to respond to industry trends, despite facing competitive pressures in the packaging market[58]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[6]. - The annual shareholders' meeting had a participation rate of 51.26% on May 19, 2021[63]. - The company emphasizes the protection of shareholder rights, particularly for minority shareholders, ensuring equal access to information[70]. - The total number of ordinary shareholders at the end of the reporting period is 15,320[112]. - Li Zhichong holds 36.44% of the shares, amounting to 115,153,836 shares, with no changes during the reporting period[112]. Compliance and Governance - The company reported no penalties or rectifications during the reporting period, indicating a good compliance status[81]. - The company and its controlling shareholders maintained a good integrity status, with no significant debts overdue[82]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[75]. - The financial statements for the first half of 2021 were approved by the board on August 25, 2021[176]. - The company has established specific accounting policies for financial instruments, fixed asset depreciation, and revenue recognition based on its operational characteristics[179]. Legal Matters - The company has a litigation dispute with Jiang Hong regarding the repurchase of shares in Run Tian Zhi, with a claimed amount of CNY 121.97 million and a provision for bad debts of CNY 38.88 million[80]. - The company is pursuing a lawsuit against Fujian Dongshan Huakang Food Co., Ltd. and Shandong Xinyin Kang Food Co., Ltd. for overdue payments totaling CNY 2.56 million, with a provision for bad debts of CNY 690,600[80]. - The company has fully provisioned for bad debts amounting to CNY 10.73 million related to Hebei Chen Yang Industrial Group Co., Ltd., which is undergoing bankruptcy reorganization[80].
华源控股(002787) - 2021 Q1 - 季度财报
2021-04-28 16:00
Financial Performance - The company's operating revenue for Q1 2021 was ¥480,305,947.31, representing a 104.75% increase compared to ¥234,581,677.93 in the same period last year[8]. - Net profit attributable to shareholders for Q1 2021 was ¥5,575,741.81, up 40.60% from ¥3,965,738.09 in the previous year[8]. - The net profit after deducting non-recurring gains and losses was ¥3,948,062.94, reflecting a significant increase of 133.40% from ¥1,691,544.48 year-on-year[8]. - Basic earnings per share for Q1 2021 were ¥0.02, doubling from ¥0.01 in the previous year[8]. - Operating revenue for the period was ¥480,305,947.31, an increase of 104.75% year-on-year, mainly due to the impact of COVID-19 in the previous year[16]. - Operating profit for Q1 2021 was CNY 8,743,842.58, compared to CNY 5,962,197.71 in the previous year, representing an increase of about 46.5%[41]. - The total comprehensive income for Q1 2021 was CNY 5,640,634.42, compared to CNY 3,958,303.11 in the previous year, reflecting an increase of approximately 42.5%[42]. Cash Flow - The net cash flow from operating activities was negative at -¥134,323,819.80, a decline of 731.44% compared to a positive cash flow of ¥21,272,690.73 in the same period last year[8]. - The net cash flow from operating activities was -134,323,819.80, a decrease from 21,272,690.73 in the previous period, indicating a significant decline in operational performance[49]. - Cash inflows from operating activities totaled 487,665,862.11, compared to 454,216,735.90 in the previous period, reflecting a year-over-year increase of approximately 7.5%[48]. - Cash outflows from operating activities increased to 621,989,681.91 from 432,944,045.17, representing a rise of about 43.7%[49]. - The net cash flow from investing activities was -150,137,109.70, an improvement from -283,681,660.44 in the previous period, showing a reduction in cash outflow[49]. - The net cash flow from financing activities was 143,201,603.83, a significant increase from 1,597,611.88 in the previous period, highlighting improved financing conditions[50]. Assets and Liabilities - The company's total assets at the end of the reporting period reached ¥2,814,482,947.60, a 10.08% increase from ¥2,556,836,617.82 at the end of the previous year[8]. - Non-current assets totaled CNY 1,216,888,540.51, up from CNY 1,084,575,186.77 year-over-year, indicating a growth of approximately 12.2%[34]. - The company's total liabilities reached CNY 1,227,123,159.32, up from CNY 975,054,038.17, representing a growth of around 25.8%[33]. - Current liabilities increased to CNY 832,857,696.11 from CNY 649,001,427.08, reflecting a rise of about 28.2%[33]. - The company's short-term borrowings at the end of the period were ¥523,321,138.81, an increase of 32.61% compared to the end of the previous year, attributed to increased payments for locked raw material prices[16]. Shareholder Information - The company reported a total of 15,214 common shareholders at the end of the reporting period[12]. - The top shareholder, Li Zhichong, held 36.44% of the shares, amounting to 115,153,870 shares, with 86,365,402 shares pledged[12]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[13]. Research and Development - Research and development expenses for the period reached ¥17,663,414.69, up 71.75% year-on-year, reflecting the company's increased investment in R&D[16]. - Research and development expenses for Q1 2021 amounted to CNY 17,663,414.69, up from CNY 10,284,596.63 in the previous year, showing a growth of approximately 72.1%[40]. Project Development - The company has completed the construction of the Qingyuan project, which has an annual production capacity of 39.6 million metal chemical cans, while the Xianning project is still under construction[22]. Other Financial Metrics - The weighted average return on net assets was 0.35%, an increase from 0.26% year-on-year[8]. - The company's intangible assets at the end of the period amounted to ¥174,459,896.24, an increase of 55.63% year-on-year, mainly due to land purchases[16]. - The company's contract liabilities at the end of the period were ¥4,439,063.28, an increase of 50.88% year-on-year, attributed to an increase in received advance payments[16].
华源控股(002787) - 2020 Q4 - 年度财报
2021-04-22 16:00
Financial Performance - The company reported a total revenue of 1.2 billion RMB for the fiscal year 2020, reflecting a year-on-year growth of 15%[13]. - The company's operating revenue for 2020 was ¥1,781,800,109.28, representing a 6.94% increase compared to ¥1,666,184,269.51 in 2019[18]. - The net profit attributable to shareholders decreased by 31.02% to ¥46,508,426.04 in 2020 from ¥67,427,581.33 in 2019[18]. - The net profit after deducting non-recurring gains and losses was ¥32,816,343.72, down 37.22% from ¥52,273,301.70 in the previous year[18]. - The total operating revenue for the reporting period was ¥1,781,800,109.28, representing a year-on-year increase of 6.94% from ¥1,666,184,269.51[57]. - The metal packaging industry contributed ¥1,232,164,511.51, accounting for 69.15% of total revenue, with a year-on-year growth of 5.77%[58]. - The plastic packaging industry generated ¥520,614,536.85, which is 29.22% of total revenue, showing an increase of 8.68% compared to the previous year[58]. - The operating profit was 60.10 million RMB, a year-on-year decrease of 24.19%[47]. - The company achieved total operating revenue of 1,781.80 million RMB, a year-on-year increase of 6.94%[47]. Dividend Policy - The company plans to distribute a cash dividend of 0.5 RMB per 10 shares to all shareholders, with no bonus shares issued[4]. - The company announced a cash dividend of RMB 1.0 per 10 shares (including tax) for the 2019 fiscal year, approved on May 20, 2020, and implemented on June 5, 2020[106]. - The dividend distribution plan for 2018 was RMB 0.50 per 10 shares (including tax), which was implemented on May 30, 2019[107]. - The total cash dividend amount for 2020 was RMB 15,798,757, which accounted for 100% of the distributable profit[110]. - In 2019, the cash dividend amount was RMB 31,102,914, representing 46.13% of the net profit attributable to shareholders[110]. - The cash dividend for 2018 was RMB 15,550,532, which was 29.06% of the net profit attributable to shareholders[110]. - The company has maintained a clear and transparent cash dividend policy, ensuring the protection of minority shareholders' rights[107]. - The company has not made any adjustments to its cash dividend policy during the reporting period[107]. - The cash dividend distribution plan is based on the total share capital at the time of implementation, which may be adjusted if the share capital changes due to various reasons[108]. Risk Management - The company has outlined potential risks in its future development and corresponding countermeasures in the report[4]. - The company emphasizes the importance of risk awareness among investors regarding forward-looking statements[4]. - The company faces risks from fluctuations in raw material prices, particularly tinplate and plastic granules, which could impact profitability[97]. - The company acknowledges the risk of goodwill impairment from its acquisition of Ruijie Technology if market conditions do not meet expectations[97]. - The company is aware of increasing market competition and plans to expand its production scale to enhance its market position[100]. - The company has significant inventory and accounts receivable balances, which could affect liquidity and operational performance if not managed effectively[100]. Operational Stability - The company has no changes in its main business since its listing, indicating stability in operations[17]. - The company has no changes in its controlling shareholders since its establishment, ensuring consistent governance[17]. - The company has established stable long-term supply relationships with high-end clients in the chemical paint industry, including AkzoNobel and PPG, enhancing its market position[34]. - The company has a strong management team with extensive experience in the packaging industry, enhancing operational efficiency[44]. - The company has established production bases in multiple regions, improving customer response and reducing logistics costs[42]. Research and Development - The company plans to enhance its product structure and expand its market presence in the food packaging sector, which is expected to become a new profit growth point[27]. - The company will increase its investment in research and development and production capacity in the food packaging area to secure a competitive advantage in broader market fields[27]. - The company invested 69.54 million RMB in R&D, accounting for 3.90% of total operating revenue[49]. - The company holds over 300 authorized patents, including more than 60 invention patents[49]. - The company emphasizes R&D and has established partnerships with universities to enhance its technological capabilities and innovation[35]. - The company has made significant progress in UV curing technology for printing, which has become a major profit source, supported by multiple patents[29]. Market Expansion - The company is focused on expanding its market presence and enhancing product development capabilities[4]. - The company plans to expand production capacity and improve product quality through flexible automation upgrades and independent R&D to meet growing customer demand and increase market share[29]. - The revenue contribution from metal lids in the food packaging segment is gradually increasing, with the company aiming to develop this business into one of its key revenue sources[29]. - The company has successfully acquired Ruijie Technology to diversify its product offerings, including plastic packaging, which has become a significant revenue source[27]. - The company has a strong customer base in the plastic packaging sector, including Shell and ExxonMobil, which helps in expanding its market reach[34]. Corporate Governance - The company has established a robust internal control system and governance structure to protect the rights of shareholders, especially minority shareholders[148]. - The company has committed to avoid and reduce related party transactions post-asset restructuring[111]. - The company has a commitment to ensure fair pricing and conditions in related party transactions to protect shareholder interests[112]. - The company’s board of directors has ensured that the decision-making process for dividend distribution is complete and compliant with regulations[107]. Environmental Responsibility - The company emphasizes environmental protection and energy conservation, implementing ISO14001 environmental management system and promoting recycling initiatives[154]. - The company has not reported any major environmental pollution incidents during the reporting period, adhering to national environmental protection standards[154]. - The company has maintained a focus on clean production and continuously improved its environmental management systems and equipment[154]. Employee Management - The total number of employees in the company is 1,916, with 566 in the parent company and 1,350 in major subsidiaries[194]. - The company emphasizes talent development and has an annual training plan to support business growth and meet employee needs[197]. - The company has a performance-based salary policy that aligns employee compensation with job responsibilities, performance, and individual capabilities[196]. - The total remuneration for directors, supervisors, and senior management during the reporting period is 357.94 million yuan[193]. Shareholder Information - The total number of shares held by major shareholders includes Li Zhichong with 36.44% (115,153,870 shares), and Li Bingxing with 11.94% (37,712,330 shares)[166]. - The company has a total of 46 shareholders as of the reporting period[165]. - The controlling shareholder is Li Zhichong, a natural person, with no changes in control during the reporting period[168][169]. - The total number of shares held by the company’s executives includes Lu Lincai with 1,469,346 shares and Zhang Xinyi with 994,684 shares[164].
华源控股(002787) - 2020 Q3 - 季度财报
2020-10-27 16:00
Financial Performance - Operating revenue for the period reached CNY 525,736,719.13, representing a year-on-year growth of 20.77%[7] - Net profit attributable to shareholders increased by 60.67% to CNY 27,992,273.33 compared to the same period last year[7] - The net profit after deducting non-recurring gains and losses rose by 78.19% to CNY 25,302,813.13[7] - Basic earnings per share increased by 50.00% to CNY 0.09[7] - The weighted average return on equity improved to 1.79%, up from 0.63% in the previous year[7] - Total operating revenue for Q3 2020 was CNY 525,736,719.13, an increase from CNY 435,327,412.61 in the previous period[41] - Net profit for Q3 2020 reached CNY 28,315,442.65, compared to CNY 17,673,254.50 in the same period last year, representing a growth of approximately 60.5%[43] - The company reported a total profit of CNY 34,238,413.30 for Q3 2020, up from CNY 22,284,044.48 in the previous year[43] - The net profit for the period was ¥4,018,408.77, significantly higher than ¥1,390,469.12 from the previous period, reflecting a growth of approximately 188.8%[46] - The comprehensive income totalled ¥4,019,301.51, compared to ¥1,390,469.12 in the same period last year, marking an increase of around 188.9%[47] Assets and Liabilities - Total assets increased by 7.82% to CNY 2,549,253,150.17 compared to the end of the previous year[7] - Current assets totaled CNY 1,447,367,754.16, slightly up from CNY 1,407,761,725.92, indicating a growth of about 2.8%[32] - Total liabilities rose to CNY 956,016,299.64 from CNY 826,264,199.68, marking an increase of approximately 15.7%[34] - The company's equity increased to CNY 1,593,236,850.53 from CNY 1,538,053,453.53, showing a growth of about 3.6%[35] - The total non-current assets increased to CNY 1,101,885,396.01 from CNY 956,555,927.29, indicating a growth of about 15.2%[33] - Total liabilities as of Q3 2020 amounted to CNY 835,256,271.28, compared to CNY 737,363,757.53 in the previous period[42] - Total cash and cash equivalents at the end of the period were CNY 108.98 million, a decrease from CNY 224.43 million at the end of the same period last year[58] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -28,590,946.56, a decline of 140.94%[7] - The net cash flow from operating activities is ¥32,513,701.49, a decrease of 65.34% compared to the same period last year, primarily due to increased payments for materials[15] - The net cash flow from financing activities is -¥6,678,244.40, a decrease of 88.42% compared to the same period last year, mainly due to reduced bank loan repayments[15] - The company reported a net cash flow from operating activities of CNY 32.51 million, down from CNY 93.80 million in the previous year[57] - The company’s financing activities resulted in a net cash outflow of CNY 6.68 million, an improvement from a net outflow of CNY 57.66 million in the previous year[58] Shareholder Information - The total number of shareholders at the end of the reporting period was 14,684[11] - Major shareholder Li Zhichong holds 36.44% of the shares, with 89,080,402 shares pledged[11] Investment and Expenditures - The company plans to raise up to ¥192,724,000 through a non-public stock issuance to optimize and integrate plastic packaging production capacity, enhancing operational stability and profitability[16] - Research and development expenses for Q3 2020 were CNY 19,365,044.74, compared to CNY 17,450,627.56 in the previous period[42] - Research and development expenses were reported at ¥45,285,210.04, slightly up from ¥43,900,204.34, indicating a growth of about 3.1%[48] Financial Management - The company has no overdue commitments from major shareholders or related parties during the reporting period[18] - There are no violations regarding external guarantees during the reporting period[24] - The company adopted new revenue and lease standards effective January 1, 2020, with no significant impact on financial statements[71]
华源控股(002787) - 2020 Q2 - 季度财报
2020-08-27 16:00
Financial Performance - The company's operating revenue for the first half of 2020 was CNY 726,055,635.41, a decrease of 7.03% compared to CNY 780,982,981.21 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 29,833,376.88, an increase of 15.46% from CNY 25,839,172.14 in the previous year[18]. - The net cash flow from operating activities reached CNY 61,104,648.05, representing a significant increase of 154.98% compared to CNY 23,964,236.13 in the same period last year[18]. - Basic earnings per share rose to CNY 0.10, up 25.00% from CNY 0.08 in the previous year[18]. - The company reported a net profit excluding non-recurring gains and losses of CNY 24,235,626.62, which is a 5.54% increase from CNY 22,964,153.09 in the same period last year[18]. - The company reported a net profit of 5,597,750.26 for the reporting period, with a significant impact from tax and minority interests adjustments[23]. - The company achieved total operating revenue of 726.06 million RMB, a decrease of 7.03% compared to the same period last year[45]. - The operating profit was 36.51 million RMB, an increase of 0.62% year-on-year[45]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion CNY for the first half of 2020, representing a year-on-year growth of 20%[95]. - The company reported a total revenue of 16.85 million for the first half of 2020[108]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,405,424,036.10, an increase of 1.74% from CNY 2,364,317,653.21 at the end of the previous year[18]. - The company's total assets reached CNY 2,405,424,036.10, compared to CNY 2,364,317,653.21 at the end of 2019, showing a growth of about 1.7%[181]. - Total liabilities rose to CNY 868,835,150.17 from CNY 826,264,199.68, marking an increase of about 5.1%[182]. - The total equity attributable to shareholders decreased slightly from CNY 1,532,329,345.03 to CNY 1,531,168,020.04, a decline of approximately 0.1%[183]. - The company's cash and cash equivalents decreased by 52.04% to CNY -189.78 million, primarily due to investments in principal-protected financial products[56]. - Cash and cash equivalents at the end of the period totaled CNY 245,802,275.28, compared to CNY 183,711,544.75 at the end of the first half of 2019, reflecting an increase of approximately 33.8%[199]. Research and Development - The company emphasizes R&D, having established partnerships with universities and holding multiple patents in both metal and plastic packaging technologies[34]. - The company plans to increase investment in R&D and production capacity in the food packaging sector to capture a larger market share[26]. - The company invested CNY 25.92 million in R&D, accounting for 3.57% of its revenue, and holds a total of 349 authorized patents, including 66 invention patents[47]. - Research and development expenses for the first half of 2020 were CNY 25,920,165.30, slightly down from CNY 26,449,576.78 in the previous year[188]. Market Position and Strategy - The main business includes the research, production, and sales of packaging products, with a focus on chemical cans and food packaging, which are expected to become new profit growth points[26]. - The company has established a first-class food safety control system and is actively involved in international and domestic standards, enhancing its market position[26]. - The acquisition of Ruijie Technology has expanded the company's product offerings to include injection and blow-molded plastic products, contributing to revenue diversification[26]. - The company has a stable customer base, including high-end clients such as AkzoNobel and PPG, with long-term cooperative relationships exceeding ten years[33]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2021[96]. - The company is focused on sustainable growth, with plans to implement eco-friendly practices in its operations, aiming for a 15% reduction in carbon footprint by 2022[96]. Risks and Challenges - The company faces risks from fluctuations in raw material prices, particularly tinplate and plastic granules, which could impact profitability if price adjustments cannot be agreed upon with clients[86]. - The company has a significant amount of inventory, which could occupy substantial working capital and affect operational performance if inventory management does not improve[88]. - The company is exposed to market competition risks as it aims to expand its production and sales scale amidst increasing competition in the packaging industry[89]. - The company acknowledges the potential adverse effects of macroeconomic fluctuations on its production and operations[85]. Corporate Governance and Compliance - The company has not sold any significant assets during the reporting period[80]. - The company has not experienced any significant changes in project feasibility during the reporting period[77]. - The company has no outstanding legal disputes that could affect its operations or financial performance, ensuring a stable business environment[96]. - The company has committed to not infringe on its interests and has outlined specific commitments regarding the use of company assets[99]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period[106]. Future Outlook - The company provided a positive outlook for the second half of 2020, projecting a revenue growth of 25% year-on-year, driven by new product launches and market expansion strategies[96]. - The expected cumulative net profit for the period from the beginning of the year to the next reporting period is projected to be between CNY 56.24 million and CNY 67.06 million, representing a growth of 30% to 55% compared to the previous year[84]. - The company provided a future outlook with a revenue guidance of 3 billion RMB for the full year 2020, indicating a growth target of 10%[97].
华源控股(002787) - 2020 Q1 - 季度财报
2020-04-28 16:00
Financial Performance - The company's operating revenue for Q1 2020 was ¥234,581,677.93, a decrease of 34.70% compared to ¥359,239,284.82 in the same period last year[9] - The net profit attributable to shareholders was ¥3,965,738.09, down 46.07% from ¥7,353,083.33 year-on-year[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥1,691,544.48, a decline of 74.89% compared to ¥6,737,018.28 in the previous year[9] - Basic earnings per share were ¥0.01, down 50.00% from ¥0.02 year-on-year[9] - Operating revenue for the reporting period was ¥234,581,677.93, a decline of 34.70% year-over-year, mainly due to the impact of the COVID-19 pandemic on operations[17] - The company's net profit attributable to shareholders was ¥3,965,738.09, down 46.07% compared to the same period last year, also affected by the pandemic[17] - Operating profit for Q1 2020 was CNY 5,962,197.71, down 51.0% from CNY 12,177,863.40 in the same period last year[41] - Net profit for Q1 2020 was CNY 3,958,303.11, representing a decline of 47.0% compared to CNY 7,474,038.20 in Q1 2019[41] - The total comprehensive income for Q1 2020 was CNY 3,958,303.11, down from CNY 7,474,230.93 in the previous year[42] Cash Flow - The net cash flow from operating activities was ¥21,272,690.73, representing a decrease of 26.33% from ¥28,875,046.19 in the same period last year[9] - Cash inflow from operating activities in Q1 2020 was CNY 454,216,735.90, an increase from CNY 380,914,217.80 in the previous year[48] - Cash flow from operating activities generated a net amount of CNY 21,272,690.73, down from CNY 28,875,046.19 in the previous period, representing a decrease of approximately 26.4%[49] - The cash inflow from operating activities totaled CNY 198,345,841.66, a decrease from CNY 215,020,027.70 in the prior period, representing a decline of approximately 7.5%[52] - The company recorded a cash outflow of CNY 208,560,161.55 from operating activities, which is an increase from CNY 158,492,979.06 in the previous period, indicating a rise of about 31.6%[52] - Cash flow from financing activities generated a net inflow of CNY 1,597,611.88, contrasting with a net outflow of CNY 62,279,478.38 in the prior period[50] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,353,710,640.62, a slight decrease of 0.45% from ¥2,364,317,653.21 at the end of the previous year[9] - Total liabilities decreased from CNY 826,264,199.68 to CNY 811,667,906.41, a decline of approximately 1.8%[33] - Total equity increased from CNY 1,538,053,453.53 to CNY 1,542,042,734.21, an increase of approximately 0.26%[34] - The balance of trading financial assets at the end of the period was ¥306,922,340.00, an increase of 1,705.43% year-over-year, attributed to the investment of raised funds in principal-protected financial products[17] - Cash and cash equivalents at the end of the period amounted to ¥192,566,834.93, a decrease of 56.43% compared to the end of the previous year, primarily due to the investment in principal-protected financial products[17] - Total cash and cash equivalents at the end of the period stood at CNY 174,775,166.14, down from CNY 201,704,124.01, reflecting a decrease of approximately 13.3%[50] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,464[13] - The largest shareholder, Li Zhichong, held 37.02% of the shares, with 89,080,402 shares pledged[13] Non-Recurring Items - The company reported non-recurring gains and losses totaling ¥2,274,193.61 for the reporting period[10] - The company’s other income decreased by 69.61% year-over-year to ¥420,435.98, primarily due to a reduction in government subsidies received[17] - The company reported a credit impairment loss of CNY 4,780,454.51 in Q1 2020[40] Compliance and Reporting - The company confirmed the accuracy and completeness of the first quarter report, ensuring stakeholders of the integrity of the financial information[65] - All board members and senior management signed off on the report, indicating unanimous agreement on its contents[69][70][71][72][73][74][75][76]