2021-08-27 08:38Financial Performance - Total revenue for the six months ended June 30, 2021, was RMB 45,032,091 thousand, an increase from RMB 36,819,775 thousand in the same period of 2020, representing a growth of approximately 22.5%[12] - Gross profit for the same period was RMB 7,759,047 thousand, compared to RMB 6,301,598 thousand in 2020, reflecting a year-over-year increase of about 23.1%[12] - Profit before tax for the six months ended June 30, 2021, was RMB 2,920,638 thousand, up from RMB 2,640,140 thousand in 2020, indicating a growth of approximately 10.6%[12] - Net profit attributable to equity holders for the period was RMB 2,381,136 thousand, compared to RMB 2,296,753 thousand in the previous year, marking an increase of around 3.7%[13] - Basic earnings per share for the period was RMB 23.60 cents, down from RMB 24.73 cents in the same period last year, reflecting a decrease of about 4.6%[13] - The total comprehensive income for the six months ended June 30, 2021, was RMB 2,420,554,000, an increase of 8.8% compared to RMB 2,224,975,000 for the same period in 2020[14] - The profit attributable to equity holders of the company for the same period was RMB 2,392,049,000, up from RMB 2,202,605,000, reflecting a growth of 8.6%[14] Revenue Sources - Sales of automobiles and related services contributed RMB 39,312,044 thousand, up from RMB 33,720,437 thousand, reflecting a growth of 16.5%[31] - The revenue from automotive parts sales was RMB 4,636,222 thousand, compared to RMB 2,675,112 thousand, marking an increase of 73.2%[31] - Research and development services generated RMB 446,825 thousand, while intellectual property licensing brought in RMB 637,000 thousand, both contributing to overall revenue growth[31] Expenses and Costs - Distribution and selling expenses for the period were RMB (2,554,189) thousand, compared to RMB (2,189,590) thousand in 2020, indicating an increase of about 16.7%[12] - The company’s total employee costs for the six months ended June 30, 2021, were RMB 2,929,970,000, compared to RMB 2,272,507,000 in the same period of 2020, reflecting an increase of 28.9%[34] - Research and development costs for the six months ended June 30, 2021, were RMB 339,677,000, slightly down from RMB 343,909,000 in the same period of 2020[38] Assets and Liabilities - Non-current assets totaled RMB 59,055,171,000 as of June 30, 2021, slightly down from RMB 59,880,993,000 at the end of 2020[16] - Current assets increased to RMB 49,744,154,000 from RMB 50,934,736,000, with inventory rising to RMB 3,947,845,000 from RMB 3,690,631,000[16] - The total liabilities decreased from RMB 41,886,877,000 to RMB 38,402,045,000, indicating improved financial health[17] - The equity attributable to equity holders of the company rose to RMB 65,012,099,000 from RMB 63,631,114,000, marking an increase of 2.2%[17] Cash Flow and Financing - Cash flow from operating activities for the six months ended June 30, 2021, was RMB 4,117,052 thousand, a significant improvement from a cash outflow of RMB 3,238,158 thousand in the same period of 2020[20] - The net cash used in investing activities was RMB 3,086,837 thousand for the six months ended June 30, 2021, compared to RMB 1,830,514 thousand in the same period of 2020, indicating increased investment activity[20] - The net cash from financing activities was RMB (184,715) thousand, a significant decrease from RMB 5,951,228 thousand in the same period of 2020, suggesting reduced financing activities[20] Strategic Initiatives and Future Outlook - Future outlook remains positive with expectations of continued growth in revenue driven by increased sales and market expansion initiatives[30] - The company plans to launch new products focusing on smart and intelligent new energy vehicles in the second half of 2021, with simultaneous releases of new energy and internal combustion engine versions[138] - The company aims to achieve a sales target of 1,530,000 units for the year 2021, representing a 16% increase compared to the previous year[150] Shareholder Information - The company declared a final dividend of HKD 0.20 per share for the year ended December 31, 2020, totaling approximately RMB 1,611,904,000[42] - Proper Glory Holding Inc. held a total of 4,019,478,000 shares, representing approximately 40.93% of the company's issued share capital as of June 30, 2021[156] - The company has issued 4.05 million ordinary shares following the exercise of share options during the six months ended June 30, 2021[150] Related Party Transactions - The company reported significant related party transactions, including sales of complete vehicle kits amounting to RMB 17,102,812, an increase from RMB 12,127,771 in the previous year, representing a growth of approximately 41%[164] - The company recorded sales of powertrain systems and related components to Volvo Personvagnar AB totaling RMB 456,698, compared to RMB 201,139 in the previous year, indicating a growth of approximately 127%[165] Corporate Governance - The company has established an audit committee to review and supervise financial reporting processes and risk management systems[174] - The independent auditors were invited to attend the annual general meeting to answer questions regarding the audit work and auditor independence[173]