LZCIC(SH:600423)2024-07-30 09:43Financial Performance - The company's operating revenue for the first half of 2024 reached RMB 77,478,635.21, representing a 37.70% increase compared to RMB 56,266,043.18 in the same period last year[35]. - The net profit attributable to shareholders of the listed company was RMB 15,653,194.27, a significant increase of 601.21% from RMB 2,232,306.66 in the previous year[35]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 15,210,675.69, up 582.19% from RMB 2,229,669.91 year-on-year[35]. - The company's net profit for the reporting period was CNY 1,565,320, representing a year-on-year increase of 601.21%[57]. - Revenue for the reporting period was CNY 7,747,860, a 37.70% increase compared to CNY 5,626,604 in the same period last year[66]. - The company achieved a basic earnings per share of CNY 0.02, up 566.67% from CNY 0.003 in the same period last year[46]. - The weighted average return on equity rose to 3.03%, an increase of 2.52 percentage points compared to the previous year[46]. - The total assets at the end of the reporting period were CNY 564,655,104.63, reflecting a 3.06% increase from the previous year[45]. - The company's net assets attributable to shareholders increased by 5.52% to CNY 536,732,422.63[45]. - The company reported a financial income of ¥7,200,791.61, an increase from ¥6,846,540.18 in the previous year[141]. - The company reported a net profit of 15,653,194.27 RMB for the first half of 2024, compared to a net profit of 2,232,306.66 RMB in the same period of 2023, indicating a significant increase[153]. - Operating cash flow for the first half of 2024 was 42,343,589.29 RMB, up from 16,934,868.95 RMB in the first half of 2023, reflecting improved cash generation capabilities[155]. - Total assets increased to 564,655,104.63 RMB in the first half of 2024, compared to 547,905,706.46 RMB in the same period of 2023, showing growth in the company's asset base[150]. - The company's total liabilities decreased to 27,922,682.00 RMB in the first half of 2024 from 39,252,157.06 RMB in the same period of 2023, indicating improved financial health[150]. Production and Sales - The production of 27.5% hydrogen peroxide increased by 40.07% year-on-year, totaling 78,137.66 tons, while sales volume decreased by 3.93%[66]. - The average price of 27.5% hydrogen peroxide was CNY 837 per ton, up 6.8% year-on-year, while the average price of 50% hydrogen peroxide was CNY 1,742 per ton, up 4.1% year-on-year[63]. - The company is primarily engaged in the production and sales of hydrogen peroxide products[173]. Cash Flow and Financial Position - The net cash flow from operating activities increased by 150.04% compared to the same period last year, reaching CNY 42,343,589.29, primarily due to the lifting of a bank deposit freeze of CNY 25,889,800[47]. - Net cash flow from financing activities decreased by 219,700 yuan, attributed to the inclusion of land and housing lease expenses in cash payments related to financing activities[71]. - Cash flow from investment activities increased by 305,470 yuan, reflecting a 44.76% increase due to reduced cash payments for fixed asset purchases compared to the previous year[80]. - The company's cash and cash equivalents amounted to ¥420,917,105.18 as of June 30, 2024, compared to ¥410,706,336.81 at the end of 2023[139]. - The company’s cash and cash equivalents at the end of the reporting period stood at 420,917,105.18 RMB, an increase from 390,596,173.98 RMB at the end of the first half of 2023[155]. Research and Development - R&D expenses for the period amounted to 1.4452 million yuan, driven by projects aimed at energy conservation and efficiency improvements[70]. - Research and development expenses for the first half of 2024 were ¥1,445,160.06, reflecting the company's commitment to innovation[141]. Environmental Compliance - The company has established an emergency response plan for environmental incidents to minimize damage in case of accidents[112]. - The company has obtained the necessary pollution discharge permits for its operations, ensuring compliance with national standards[107]. - The company has implemented a self-monitoring plan for emissions and waste management in accordance with regulatory requirements[113]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[114]. - The company upgraded its wastewater pre-treatment facility, enhancing its treatment capacity and automation level[108]. - The company completed the environmental protection acceptance for the 60,000 tons/year hydrogen peroxide expansion project[111]. - The company generated 533.06 tons of industrial solid waste and 2.31 tons of hazardous waste during the reporting period, all disposed of as required[107]. - The company’s subsidiary, Lvzai, was included in the list of key pollutant discharge units for 2024, with total emissions of volatile organic compounds at 0.259 tons[107]. Corporate Governance - The company has a commitment to ensuring the accuracy and completeness of its financial disclosures, with all board members present at the meeting[15]. - The company’s financial report for the first half of 2024 has not been audited[16]. - The financial report was approved by the board of directors on July 30, 2024[181]. - The company has elected Pan Mingshi as an independent director to replace Wu Lvqiu, who resigned due to regulatory conflicts[103]. Risks and Challenges - The company faces risks related to market competition and declining downstream demand for its hydrogen peroxide products, necessitating enhanced marketing and cost management strategies[88]. - The company confirmed a bankruptcy debt claim of RMB 25,889,840 from Fujian Sanneng, with a cash payment of RMB 1,050,155.25 and 2,462,685 shares already made[116]. - The company has ongoing litigation regarding the ownership of platinum net valued at approximately RMB 66,042,150, with the first instance ruling against the plaintiff[116]. Shareholder Information - The total number of common shareholders as of the end of the reporting period was 20,602[131]. - The top shareholder, Liuzhou Yuantong Investment Development Co., Ltd., held 201,452,434 shares, representing 25.22% of the total shares[131].