Financial Performance - Total sales revenue for the six months ended June 30, 2021, was approximately RMB 719,430,000, an increase of 33.1% compared to RMB 540,575,000 for the same period in 2020[8]. - Gross profit for the same period was approximately RMB 91,466,000, representing a 63.7% increase from RMB 55,876,000 in the prior year[9]. - Profit attributable to shareholders increased to approximately RMB 17,622,000, compared to RMB 532,000 in the same period last year[15]. - The company achieved a profit before tax of RMB 25,556,000, a significant increase from RMB 1,068,000 in the prior year, marking a growth of 2,295.5%[60]. - Net profit for the period was RMB 17,622,000, compared to RMB 379,000 in the previous year, reflecting a substantial increase[60]. - Basic and diluted earnings per share rose to RMB 0.0277 from RMB 0.0009, indicating a significant improvement in profitability[60]. - Total comprehensive income for the period was RMB 17,764,000, compared to RMB 973,000 in the same period last year, showing a growth of 1,724.5%[63]. Expenses and Costs - Research and development expenses amounted to approximately RMB 29,523,000, with a focus on mold development and automation improvements[5]. - Sales expenses increased by approximately 34.5% to RMB 39,099,000, primarily due to increased sales revenue[11]. - Management expenses rose by approximately 15.7% to RMB 30,346,000 compared to RMB 26,237,000 in the prior year[12]. - The cost of goods sold for the six months ended June 30, 2021, was RMB 627,964,000, up from RMB 460,646,000 in 2020, reflecting a rise of approximately 36.3%[78]. Assets and Liabilities - The company's equity as of June 30, 2021, was approximately RMB 752,786,000, with total current assets of approximately RMB 883,333,000[16]. - The company's total assets as of June 30, 2021, were RMB 758,706,000, an increase from RMB 741,478,000 at the end of 2020[65]. - Current liabilities decreased to RMB 811,101,000 from RMB 861,675,000, indicating improved liquidity management[65]. - The total liabilities, including accounts payable and accrued expenses, amounted to RMB 495,565,000 as of June 30, 2021, down from RMB 557,029,000 as of December 31, 2020, a reduction of about 11.0%[95]. Cash Flow - Net cash inflow from operating activities for the six months ended June 30, 2021, was RMB 52,450,000, compared to RMB 36,476,000 for the same period in 2020, representing an increase of approximately 43.8%[70]. - Net cash outflow from investing activities for the six months ended June 30, 2021, was RMB (58,399,000), compared to RMB (25,380,000) in 2020, indicating a significant increase in investment activities[70]. - Net cash inflow from financing activities for the six months ended June 30, 2021, was RMB 6,640,000, a recovery from a net outflow of RMB (36,896,000) in the previous year[70]. - The net increase in cash and cash equivalents for the six months ended June 30, 2021, was RMB 691,000, compared to a decrease of RMB (25,800,000) in 2020, showing improved liquidity[70]. Corporate Governance - The company has maintained compliance with corporate governance standards, ensuring effective risk management and adherence to listing rules[58]. - The company has established an audit committee composed of three independent non-executive directors, responsible for reviewing financial reports and internal control procedures[45]. - The company has adopted a code of conduct for directors' securities transactions and has not violated relevant standards[44]. Strategic Initiatives - The company continues to consider establishing factories closer to major clients to enhance service efficiency and maintain competitive advantages[5]. - The management aims to enhance product quality and expand the customer base by leveraging expertise in mold and plastic component production[26]. - The company is actively expanding its international business, including establishing a wholly-owned subsidiary in Mexico to produce and sell automotive parts molds[30]. - The company plans to establish a wholly-owned subsidiary in Serbia to further penetrate the European market[30]. - The company is investing heavily in high-quality production equipment to ensure precision in manufacturing automotive components[30]. Shareholder Information - The company’s major shareholders include Mr. Masuda and Mr. Masuda Toshimitsu, each holding 36.65% of the company’s shares[33]. - Superview International Investment Limited holds 17.42% of the company's shares, making it the second-largest shareholder[40]. - 丁宏廣 holds 9.44% of the company's shares, making him the third-largest shareholder[40]. - The company did not engage in any significant acquisitions or disposals of subsidiaries for the six months ended June 30, 2021[23]. - The board of directors proposed not to declare an interim dividend for the six months ended June 30, 2021[31].
YUSEI(00096) - 2021 - 中期财报