雅迪控股(01585) - 2021 - 中期财报

Sales Performance - For the six months ended June 30, 2021, the total sales volume of electric scooters and bicycles reached 6,537,000 units, representing a year-on-year increase of 61.1%[8] - The sales volume of electric scooters increased by approximately 36.4% to 3,073,200 units, while electric bicycles saw a 91.9% increase to 3,463,800 units[10] - The company sold approximately 1,570,000 units of the popular Crown series electric two-wheelers during the reporting period[8] - The expansion of the distribution network contributed significantly to the increase in sales volume and revenue[9] Revenue and Profitability - Revenue for the same period was approximately RMB 12,375.4 million, an increase of 63.9% compared to RMB 7,549.9 million in the same period of 2020[9] - The company's revenue for the six months ended June 30, 2021, was RMB 12,375.4 million, a significant increase from RMB 7,549.9 million in the same period of 2020, representing a growth of approximately 64.5%[35] - Gross profit rose by 39.1% to approximately RMB 1,845.4 million, with a gross margin of 14.9%, down from 17.6% in the previous year due to rising raw material costs[13] - Operating profit increased to RMB 722.2 million from RMB 482.7 million, reflecting a year-on-year growth of approximately 49.7%[35] - The net profit attributable to the company's owners for the period was RMB 589.2 million, compared to RMB 394.9 million in the previous year, marking an increase of around 49.2%[35] - Basic earnings per share rose to RMB 20.6 from RMB 13.7, representing an increase of approximately 50.4%[35] Costs and Expenses - The cost of sales increased by approximately 69.2% to RMB 10,530.0 million, in line with the rise in revenue and sales volume[11] - The total cost of sales and distribution expenses, administrative expenses, and R&D expenses amounted to RMB 11,823,133,000 for the six months ended June 30, 2021, compared to RMB 7,176,995,000 for the same period in 2020, indicating a rise of approximately 64.5%[57] - The cost of materials and consumables used was RMB 10,255,846,000 for the six months ended June 30, 2021, compared to RMB 6,113,824,000 for the same period in 2020, indicating an increase of approximately 67.8%[57] Cash Flow and Liquidity - As of June 30, 2021, cash and cash equivalents amounted to RMB 5,350.3 million, an increase of approximately 56.4% from RMB 3,420.9 million as of December 31, 2020[14] - Net cash inflow from operating activities for the six months ended June 30, 2021, was approximately RMB 2,585.7 million, compared to RMB 1,170.4 million for the same period in 2020[14] - The company reported a net increase in cash and cash equivalents of RMB 1,931,628 thousand, compared to RMB 365,702 thousand in the prior period, indicating a substantial improvement in liquidity[43] - The company believes that its liquidity needs will be met considering existing cash, expected cash flows from operations, and net proceeds from the IPO[14] Assets and Liabilities - Total assets increased to RMB 18,262,962 thousand, up from RMB 16,016,355 thousand as of December 31, 2020, representing a growth of approximately 14.06%[132] - Non-current assets increased to RMB 3,600,192 thousand as of June 30, 2021, up from RMB 2,642,591 thousand at the end of 2020, reflecting a growth of about 36.3%[39] - Current assets totaled RMB 14,662,770 thousand, an increase from RMB 13,373,764 thousand, indicating a rise of approximately 9.6%[39] - Total liabilities rose to RMB 14,500,315 thousand, up from RMB 12,413,512 thousand, which is an increase of approximately 16.8%[40] - The debt-to-asset ratio was 6.8% as of June 30, 2021, compared to 2.7% as of December 31, 2020[17] Inventory and Accounts Receivable - Inventory increased by approximately 51.8% to RMB 1,032.7 million as of June 30, 2021, from RMB 680.2 million as of December 31, 2020, due to increased product sales[16] - Accounts receivable grew to RMB 714,619 thousand, compared to RMB 377,146 thousand, reflecting an increase of approximately 89.3%[39] - The average inventory turnover days decreased from 17.5 days in 2020 to 14.6 days for the six months ended June 30, 2021[16] Investments and Future Plans - The company plans to continue investing in the development of new models and upgrading existing electric two-wheelers and bicycles[8] - The company invested approximately RMB 1,070 million in financial instruments issued by Ping An Bank, which constituted over 5% of the applicable percentage rate[27] - The net proceeds from the global offering amounted to approximately RMB 907.3 million, with planned uses including marketing, business expansion, and R&D[28] Corporate Governance and Compliance - The company has fully complied with the corporate governance code during the reporting period[31] - The company has established an audit committee to ensure compliance with corporate governance standards and enhance financial reporting accuracy[126] - The company continues to enhance its internal control systems to ensure compliance with applicable laws and regulations[20] Shareholder Returns - The company has not declared any interim dividends for the six months ended June 30, 2021[32] - Dividends paid during the period amounted to RMB 453,513 thousand, reflecting the company's commitment to returning value to shareholders[134]