LETS(002398)2024-08-19 10:21Financial Performance - Revenue for the reporting period was 1,178,833,691.95 yuan, a decrease of 21.06% compared to the same period last year[11] - Net profit attributable to shareholders of the listed company was 72,378,577.42 yuan, a decrease of 42.02% year-on-year[11] - Net cash flow from operating activities was -74,337,047.43 yuan, a significant decrease of 219.87% compared to the same period last year[11] - Basic earnings per share were 0.10 yuan, down 44.44% year-on-year[11] - Total assets at the end of the reporting period were 5,936,516,562.72 yuan, a decrease of 8.28% compared to the end of the previous year[11] - Revenue decreased by 21.06% to 1,178,833,691.95 yuan compared to the same period last year[21] - Operating costs decreased by 19.23% to 902,792,072.17 yuan[21] - Net cash flow from operating activities decreased by 219.87% to -74,337,047.43 yuan[21] - Net cash flow from investing activities increased by 677.15% to 316,937,301.61 yuan[21] - Revenue for the first half of 2024 decreased to 1,178,833,691.95 yuan, down 21.1% compared to 1,493,420,416.09 yuan in the same period of 2023[144] - Net profit for the first half of 2024 was 71,649,974.21 yuan, a 41% decline from 121,386,551.91 yuan in the first half of 2023[145] - Operating profit for the first half of 2024 dropped to 73,385,838.31 yuan, a 45% decrease from 133,478,934.60 yuan in the same period of 2023[144] - R&D expenses for the first half of 2024 were 71,100,432.98 yuan, down 11.3% from 80,199,086.39 yuan in the first half of 2023[144] - Basic earnings per share for the first half of 2024 were 0.10 yuan, compared to 0.18 yuan in the same period of 2023[145] - Total comprehensive income for the first half of 2024 was 65,568,088.50 yuan, a 31.1% decrease from 95,131,274.76 yuan in the first half of 2023[145] - Parent company's revenue for the first half of 2024 was 609,338.84 yuan, a 3.7% increase from 587,664.44 yuan in the same period of 2023[146] - Parent company's net profit for the first half of 2024 was 2,994,816.53 yuan, a 43.2% decrease from 5,274,181.54 yuan in the first half of 2023[146] - Sales revenue from goods and services received in cash for H1 2024 was 1,364,352,261.78 yuan, a decrease of 14.1% compared to 1,588,303,012.49 yuan in H1 2023[148] - Total cash inflow from operating activities for H1 2024 was 1,762,727,121.75 yuan, down 7.9% from 1,914,327,824.30 yuan in H1 2023[148] - Net cash flow from operating activities for H1 2024 was -74,337,047.43 yuan, a significant decline from 62,014,715.58 yuan in H1 2023[149] - Net cash flow from investing activities for H1 2024 was 316,937,301.61 yuan, a substantial increase from 40,782,053.39 yuan in H1 2023[149] - Net cash flow from financing activities for H1 2024 was -148,013,617.04 yuan, compared to -122,079,554.63 yuan in H1 2023[149] - Cash and cash equivalents at the end of H1 2024 were 362,989,125.24 yuan, up 40.9% from 257,604,464.46 yuan at the end of H1 2023[149] - Cash received from tax refunds in H1 2024 was 9,201,372.24 yuan, a 368% increase from 1,966,144.12 yuan in H1 2023[148] - Cash paid for goods and services in H1 2024 was 931,951,246.95 yuan, a 13.3% decrease from 1,074,490,631.88 yuan in H1 2023[148] - Cash paid to and for employees in H1 2024 was 216,715,463.99 yuan, down 8.7% from 237,466,113.96 yuan in H1 2023[148] - Cash received from other operating activities in H1 2024 was 389,173,487.73 yuan, a 20.1% increase from 324,058,667.69 yuan in H1 2023[148] - Operating cash flow for the period was negative at -31.92 million yuan, compared to a positive 27.55 million yuan in the previous period[150] - Investment cash flow was positive at 255.88 million yuan, a significant increase from 90.99 million yuan in the previous period[150] - Financing cash flow was negative at -168.86 million yuan, compared to -76.21 million yuan in the previous period[150] - Net increase in cash and cash equivalents was 55.10 million yuan, up from 42.33 million yuan in the previous period[150] - Total cash and cash equivalents at the end of the period stood at 77.07 million yuan, compared to 56.07 million yuan in the previous period[150] - Comprehensive income for the period was -6.08 million yuan, a decrease from 72.38 million yuan in the previous period[151] - Total equity decreased by 78.60 million yuan, compared to a decrease of 728.60 thousand yuan in the previous period[151] - Profit distribution amounted to -55.06 million yuan, a significant decrease from the previous period[151] - Total owner's equity at the end of the period was 3.73 billion yuan, down from 3.69 billion yuan in the previous period[151] - Total equity attributable to owners of the parent company at the end of the period was RMB 3,648,523,418.52[152] - The company allocated RMB 55,060,374.96 to shareholders as dividends[152] - Comprehensive income for the period was RMB 98,577,520.77[153] - Total equity at the beginning of the period was RMB 3,683,685,295.70[153] - The company's capital reserve decreased by RMB 12,393,995.28 during the period[153] - Retained earnings at the end of the period were RMB 2,605,152.21[152] - Other comprehensive income decreased by RMB 26,255,277.15[153] - The company's total equity decreased by RMB 2,923,978.00 due to changes in owner's equity[153] - Special reserve usage amounted to RMB 17,529.50[154] - The company's total equity at the end of the period was RMB 3,725,190.62[154] - The company's total owner's equity at the end of the period was RMB 1,198,882,657.24, a decrease of RMB 141,898,728.69 compared to the beginning of the period[157] - Comprehensive income for the period was RMB 2,994,816.53[156] - The company allocated RMB 55,060,374.96 for profit distribution to owners (or shareholders)[157] - The company's capital reserve decreased by RMB 55,206,668.32 during the period[156] - The company's undistributed profit decreased by RMB 52,065,558.43 during the period[156] - The company's total owner's equity at the end of the previous year was RMB 1,394,919,184.97[159] - Comprehensive income for the previous period was RMB 5,274,181.00[159] - The company allocated RMB 57,083,493.52 for profit distribution to owners (or shareholders) in the previous period[159] - The company's capital reserve decreased by RMB 12,376,465.78 during the previous period[159] - The company's undistributed profit decreased by RMB 51,809,311.98 during the previous period[159] Dividend and Shareholder Policies - The company plans not to distribute cash dividends, issue bonus shares, or convert capital reserve into share capital[1] - The company plans not to distribute cash dividends, stock dividends, or convert capital reserve into share capital for the semi-annual period[50] Market and Operational Risks - The company faces risks including market fluctuations, raw material price volatility, labor cost increases, and industry competition[1] - The company faces risks related to market conditions, raw material price fluctuations, rising labor costs, and industry competition[47] - The company plans to mitigate risks through regional diversification, technological innovation, and cost management[47] Environmental and Regulatory Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[57] - Fujian Kezhijie obtained environmental impact assessment approval in 2016 and renewed its pollutant discharge permit in 2023, valid until 2028[58] - Chongqing Jianyan Kezhijie obtained environmental impact assessment approval in 2020 and a national pollutant discharge permit in 2021, valid until 2026[58] - Hainan Kezhijie obtained a pollutant discharge permit in 2020, valid until 2025[58] - Guizhou Kezhijie obtained environmental impact assessment approval in 2011 and a pollutant discharge permit in 2023, valid until 2028[58] - Guangxi Kezhijie obtained environmental impact assessment approval in 2015 and a pollutant discharge permit in 2021, valid until 2026[58] - Zhejiang Kezhijie obtained environmental impact assessment approval in 2020 and a pollutant discharge permit in 2023, valid until 2028[58] - Ammonia concentration in wastewater at Kezhijie New Materials Group Fujian Co., Ltd. is 3.66 mg/L, with a five-day biochemical oxygen demand of 131 mg/L and a chemical oxygen demand of 36.5 mg/L[61] - Noise levels at Chongqing Jianyan Kezhijie Building Materials Co., Ltd. are 56 dB(A) during the day and 51 dB(A) at night[61] - Ammonia concentration in industrial waste gas at Chongqing Jianyan Kezhijie Building Materials Co., Ltd. is 0.93 mg/m³, with non-methane total hydrocarbons at 5.57 mg/m³ and formaldehyde at 0.033 mg/m³[61] - Non-methane total hydrocarbons in unorganized waste gas at Chongqing Jianyan Kezhijie Building Materials Co., Ltd. are 1.66 mg/m³[62] - Groundwater monitoring at Chongqing Jianyan Kezhijie Building Materials Co., Ltd. shows lead concentration at 2.5 µg/L, fluoride at 0.05 mg/L, and cadmium at 0.073 µg/L[62] - Soil monitoring at Chongqing Jianyan Kezhijie Building Materials Co., Ltd. shows formaldehyde concentration at 0.02 mg/kg[63] - Volatile organic compounds in unorganized waste gas at Kezhijie New Materials Group (Hainan) Co., Ltd. are 1 mg/Nm³, with odor concentration being dimensionless[63] - Noise levels at Kezhijie New Materials Group (Hainan) Co., Ltd. are 65 dB during the day and 55 dB at night[64] - Volatile organic compounds in unorganized waste gas at Kezhijie New Materials Group (Guizhou) Co., Ltd. are 0.07 mg/m³[64] - Volatile organic compounds in waste gas at Kezhijie New Materials Group (Guizhou) Co., Ltd. are 4.0 mg/Nm³, with particulate matter at 1.0 mg/Nm³[64] - The company's emissions in the 1st workshop include particulate matter at 20mg/m³, nitrogen oxides at 200mg/m³, sulfur dioxide at 50mg/m³, and Ringelmann blackness at 1mg/m³[65] - Soil quality monitoring at 8 points around the facility showed compliance with GB36600-2018 standards[65] - Noise levels around the factory perimeter met the GB12348-2008 industrial enterprise noise emission standards[65] - VOC emissions from the hazardous waste storage area and general waste warehouse were within acceptable limits[65] - Particulate matter emissions from the synthetic workshop were measured at 120mg/Nm³[65] - Non-methane total hydrocarbon emissions from the 3rd floor of the workshop were 60mg/Nm³, with acetone and formaldehyde also within limits[66] - Wastewater discharge showed chemical oxygen demand at 100mg/L and suspended solids at 70mg/L[66] - Noise levels at the factory boundary were 65dB(A) during the day and 55dB(A) at night[67] - Formaldehyde emissions from the production workshop were measured at 25mg/Nm³[67] - Acrylic acid emissions from the online treatment discharge port were 10mg/Nm³[68] - The emission limits for volatile organic compounds (VOCs) at the boundary of Kezhijie New Materials Group Henan Co., Ltd. are 4.0mg/Nm³ for VOCs, 4.0mg/Nm³ for formaldehyde, and 1.0mg/Nm³ for particulate matter[69] - The noise emission limits at the boundary of Kezhijie New Materials Group Henan Co., Ltd. are 60dB(A) during the day and 55dB(A) at night[70] - The ammonia emission concentration from the 1 exhaust stack of Shaanxi Kezhijie New Materials Co., Ltd. is 1.46mg/m³, non-methane total hydrocarbons (NMHC) is 9.48mg/m³, and formaldehyde is 0.33mg/m³[70] - The wastewater discharge limits for chemical oxygen demand (COD) and total phosphorus at Kezhijie New Materials Group Henan Co., Ltd. are 300mg/L and 50mg/L, respectively[69] - The formaldehyde emission concentration from the exhaust stack of Kezhijie New Materials Group (Guangdong) Co., Ltd. is 2.5mg/m³, NMHC is 120mg/m³, and particulate matter is 120mg/m³[71] - The total suspended particulate (TSP) emission concentration at the boundary of Kezhijie New Materials Group (Guangdong) Co., Ltd. is 1.0mg/m³, NMHC is 4.0mg/m³, and sulfuric acid mist is 1.2mg/m³[71] - The VOC emission concentration from the exhaust stack of Hunan Kezhijie New Materials Co., Ltd. is 4.0mg/Nm³[71] - The wastewater discharge limits for suspended solids and ammonia nitrogen at Hunan Kezhijie New Materials Co., Ltd. are not specified, but the discharge is directed to the urban sewage treatment system[71] - Sichuan Kezhijie New Materials Group's organized exhaust emissions: particulate matter 8.1mg/m³, non-methane total hydrocarbons 1.53mg/m³, ammonia 0.92mg/m³[72] - Sichuan Kezhijie New Materials Group's unorganized exhaust emissions: particulate matter 0.104mg/m³, non-methane total hydrocarbons 0.92mg/m³, ammonia 0.1mg/m³[72] - Sichuan Kezhijie New Materials Group's noise levels: daytime 53.04 dB(A), nighttime 43.85 dB(A)[72] - Fujian Kezhijie's environmental governance and protection investment: 122,400 yuan, environmental liability insurance payment: 5,188.68 yuan, environmental tax payment: 1,527.57 yuan[74] - Hainan Kezhijie's environmental governance and protection investment: 135,000 yuan, environmental tax payment: 0 yuan[75] - Hunan Kezhijie's environmental governance and protection investment: 147,700 yuan, environmental tax payment: 2,383.37 yuan[75] - Sichuan Kezhijie's environmental governance and protection investment: 2,000 yuan, environmental tax payment: 405.75 yuan[75] - Fujian Kezhijie's environmental emergency response plan: revised and filed in 2024 with record number 350604-2024-008-L[73] - Hunan Kezhijie's environmental emergency response plan: approved and filed in June 2024 with record number 430304-2024-049-M[74] - Sichuan Kezhijie's environmental emergency response plan: approved and filed in March 2022 with record number 510182-2022-056-L[74] - Sulfur dioxide emissions from boilers are maintained at 50mg/m³, monitored monthly[76] - Non-methane total hydrocarbon emissions are controlled at 100mg/m³, monitored semi-annually[76] - Noise levels at the factory boundary are kept below 65dB(A) during the day and 55dB(A) at night, monitored quarterly[76] - Ammonia emissions are limited to 14kg/h, monitored semi-annually[76] - Formaldehyde emissions are controlled at 25mg/m³, monitored quarterly[76] - Groundwater quality monitoring includes parameters like lead (2.5ug/L) and fluoride (0.05mg/L), monitored annually[77] - Soil formaldehyde levels are maintained at 0.02mg/Kg, monitored every 5 years[77] - Volatile organic compounds (VOCs) emissions are monitored at 4 points, 4 times per year[77] - Chemical oxygen demand in rainwater is monitored semi-annually[77] - Total suspended particles (TSP) emissions are monitored at 4 points, 4 times per year[77] - Volatile organic compounds (VOCs) monitoring at 1 and 2 workshops conducted 3 times annually with a total of 12 samples[78] - Particulate matter and VOCs monitoring at the factory boundary conducted 5 times