OLYMPIC(SH:603920)2021-08-20 16:00Financial Performance - The company's operating revenue for the first half of 2021 was approximately CNY 1.50 billion, representing a 33.55% increase compared to CNY 1.12 billion in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2021 was CNY 78.26 million, a decrease of 45.11% from CNY 142.57 million in the previous year[21]. - The net cash flow from operating activities was CNY 169.50 million, which is a 25.84% increase from CNY 134.70 million in the same period last year[21]. - Basic earnings per share for the first half of 2021 were CNY 0.15, down 57.14% from CNY 0.35 in the same period last year[24]. - The weighted average return on net assets decreased by 2.35 percentage points to 3.00% from 5.35% in the previous year[24]. - The total operating revenue for the first half of 2021 reached ¥1,500,829,796.98, a 33.5% increase from ¥1,123,814,736.27 in the same period of 2020[177]. - Net profit for the first half of 2021 was ¥78,033,898.21, a decrease of 45.3% compared to ¥142,572,873.74 in the previous year[180]. - The company reported a total profit of ¥93,398,722.82, down from ¥168,497,349.62 year-on-year[180]. - The company’s total comprehensive income for the first half of 2021 was ¥74,566,103.28, down from ¥147,131,386.11 in the previous year[182]. Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 5.01 billion, reflecting a 31.81% increase from CNY 3.80 billion at the end of the previous year[21]. - The net assets attributable to shareholders decreased by 1.81% to CNY 2.65 billion from CNY 2.70 billion at the end of the previous year[21]. - Total liabilities increased to ¥2,361,112,590.34, up from ¥1,102,715,598.34, representing a growth of approximately 114% year-over-year[169]. - Current liabilities totaled ¥1,309,646,748.58, compared to ¥1,051,595,221.76, indicating an increase of about 24.5%[169]. - Non-current liabilities amounted to ¥1,051,465,841.76, a significant rise from ¥51,120,376.58, reflecting a growth of over 1950%[169]. - Cash and cash equivalents rose to ¥1,173,040,208.23, compared to ¥517,770,797.36, marking an increase of about 126.5%[171]. Market and Industry Position - The company operates in the PCB industry, focusing on the R&D, production, and sales of various types of printed circuit boards, including HDI and flexible boards[29]. - The global PCB market value was approximately $65.219 billion in 2020, with a year-on-year growth of 6.4%[32]. - The company ranked 53rd among the top 100 PCB manufacturers globally according to Prismark's 2020 report[34]. - The automotive electronics sector has become a significant growth point for the PCB industry, driven by increasing market demand[32]. - The company is actively expanding its domestic market presence while maintaining a strong focus on overseas markets, including the US, Europe, and Japan[31]. Research and Development - The company's R&D investment reached CNY 54.64 million, an increase of 17.36% compared to the previous year[57]. - The company has established strategic partnerships with institutions like Guangdong University of Technology to enhance R&D capabilities in microelectronics[47]. - The company has diversified its product line into four major categories, including rigid boards, HDI, flexible boards, and metal substrates, to meet evolving market demands[38]. Environmental Compliance - Environmental compliance is critical, with significant investments required for pollution control facilities due to stringent regulations in the PCB industry[83]. - The company has established a wastewater treatment system with a capacity of 6,000 cubic meters per day, ensuring compliance with local pollution discharge standards[95]. - The company has received environmental impact assessment approval for a new project aimed at producing 3 million square meters of circuit boards annually[98]. - The company has developed an emergency response plan for environmental pollution incidents to enhance its crisis management capabilities[101]. Shareholder and Corporate Governance - The company has committed to a 36-month lock-up period for shares held by major shareholders, ensuring no transfer or management delegation during this time[105]. - The integrity status of the company and its major shareholders remained good, with no violations or penalties reported during the period[112]. - The largest shareholder, New豪国际集团有限公司, holds 331,503,354 shares, representing 62.29% of the total shares[132]. - The company has not disclosed any significant changes in environmental information or measures taken to reduce carbon emissions during the reporting period[103]. Cash Flow and Financing Activities - Cash inflow from operating activities totaled CNY 1,668,265,918.81, compared to CNY 1,337,274,515.01 in the first half of 2020, reflecting an increase of approximately 24.8%[191]. - The net cash flow from financing activities was CNY 901,013,783.01, an increase from CNY 198,973,627.59 in the previous year, representing a growth of about 353.5%[197]. - The company reported a significant increase in cash received from investment income, totaling CNY 1,924,754.02, compared to CNY 526,027.40 in the previous year, which is an increase of approximately 265.5%[194].