新中港(605162) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 330,880,797.78, representing a year-on-year increase of 36.52% compared to CNY 242,366,746.87 in the same period last year[17]. - The net profit attributable to shareholders of the listed company decreased by 4.62% to CNY 59,583,299.04, down from CNY 62,469,758.99 in the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 4.67% to CNY 59,338,645.52, compared to CNY 56,690,334.64 in the same period last year[17]. - The total profit amounted to 79.53 million yuan, a year-on-year decrease of 4.63%[39]. - The company achieved a comprehensive income total of ¥59,583,299.04, consistent with the net profit figure for the period[131]. - The total comprehensive income for the first half of 2021 was CNY 57,002,295.97, compared to CNY 63,824,695.08 in the same period of 2020, indicating a decrease of approximately 10%[134]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 45.40% to CNY 64,756,882.78, down from CNY 118,592,955.59 in the previous year[17]. - The company's cash and cash equivalents decreased by 47.99% to ¥97,842,385.69, compared to ¥188,121,171.27 at the end of the previous year[49]. - Cash inflows from operating activities amounted to CNY 381,885,140.09, an increase of about 13% from CNY 337,532,286.74 in the first half of 2020[135]. - The net cash flow from financing activities was negative at CNY -64,432,717.47, compared to a positive CNY 46,606,738.85 in the first half of 2020[136]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 961,696,112.85, a slight increase of 1.61% from CNY 946,447,946.85 at the end of the previous year[17]. - The total liabilities decreased to ¥308,229,108.84 from ¥352,564,241.88, a decline of about 12.6%[124]. - The company's retained earnings increased to ¥285,881,312.36 from ¥226,298,013.32, reflecting a growth of approximately 26.4%[124]. - The inventory increased by 46.89% to ¥48,474,786.80, reflecting higher coal prices[49]. Operating Costs and Profitability - The increase in operating costs was primarily due to a 58.80% rise in raw material costs, which outpaced the growth in operating revenue[19]. - Operating costs increased by 58.80% to ¥232,512,679.93, primarily due to a 44.22% rise in coal prices[45]. - The average procurement price of coal was 1,036.16 yuan/ton, an increase of 323.42 yuan/ton or 45.38% year-on-year[39]. - The company experienced a decrease in net profit due to the absence of non-recurring gains from government subsidies received in the previous year, amounting to CNY 7,414,400[19]. Environmental and Technological Initiatives - The company aims to reduce carbon emissions to levels comparable to natural gas combined cycle power plants, enhancing economic benefits through carbon trading[30]. - The company is the first in Zhejiang Province to pass ultra-low emission acceptance for its entire plant, significantly reducing operational costs and improving overall efficiency[34]. - The company has implemented energy-saving upgrades that are expected to further reduce coal consumption and improve environmental performance[40]. - The company has established an emergency response plan for environmental incidents, which has been filed with the local environmental protection bureau[70]. Shareholder and Governance Matters - The company has not distributed dividends or bonus shares for the reporting period, maintaining a profit distribution of 0[61]. - The controlling shareholder is obligated to increase their holdings if the stock price remains low after the buyback[84]. - The company will disclose any buyback plans within two trading days after the board's decision[86]. - The company has committed to not transferring or managing shares for 36 months post-IPO, ensuring stability in shareholding[78]. Legal and Regulatory Issues - The company is pursuing a claim of RMB 25 million against Zhejiang Tianle Group for bank loan repayment, with a court mediation agreement reached for repayment by July 16, 2021[96]. - The company is also involved in a heat supply contract dispute, claiming RMB 38.72 million in unpaid price differences and RMB 4.39 million in interest losses[97]. - The company has ongoing litigation regarding a monopoly pricing dispute, with a court ruling against the plaintiff, who has appealed[93]. Market Position and Competition - The company is the only public centralized heating enterprise in Shengzhou City, facing competition from 16 other thermal power plants in the surrounding area[30]. - The company has established a strong customer base with over 150 downstream clients, including major pharmaceutical companies and textile industries[35]. - The company anticipates continued growth in steam and electricity sales as the impact of the COVID-19 pandemic on downstream users diminishes[19]. Accounting and Financial Reporting - The financial statements are prepared based on the going concern assumption, with no significant doubts regarding the company's ability to continue operations for the next 12 months[155]. - The company follows specific accounting policies for bad debt provisions, fixed asset depreciation, and revenue recognition[156]. - The company does not have any significant events that would raise doubts about its ability to continue as a going concern[155]. - The company has not reported any major contracts or their performance during the reporting period[102].