Financial Performance - Revenue for the six months ended June 30, 2021, was RMB 992,642 thousand, representing an increase of 58.8% compared to RMB 625,226 thousand for the same period in 2020[8]. - Gross profit for the same period was RMB 124,581 thousand, up 160.5% from RMB 47,801 thousand in 2020[8]. - Operating profit increased to RMB 85,240 thousand, compared to RMB 20,184 thousand in the previous year, marking a growth of 322.5%[8]. - Profit attributable to equity shareholders for the period was RMB 64,394 thousand, a significant rise from RMB 10,563 thousand in 2020, reflecting a growth of 510.5%[8]. - Basic and diluted earnings per share were RMB 0.11, compared to RMB 0.02 for the same period last year, indicating a 450% increase[8]. - For the six months ended June 30, 2021, the company reported a net profit of RMB 64,394 thousand, an increase from RMB 10,563 thousand in the same period of 2020, representing a growth of approximately 509%[16]. - The company reported a total comprehensive income of RMB 64,327 thousand for the six months ended June 30, 2021, compared to RMB 10,679 thousand for the same period in 2020, indicating a growth of approximately 502%[16]. - Net profit for the six months ended June 30, 2021, was approximately RMB 64,394,000, resulting in a net profit margin of 6.5%, compared to 1.7% in the previous year[114]. Assets and Liabilities - Total assets as of June 30, 2021, amounted to RMB 1,623,526 thousand, slightly up from RMB 1,597,248 thousand at the end of 2020[14]. - The company’s total equity as of June 30, 2021, was RMB 727,221 thousand, up from RMB 621,046 thousand as of June 30, 2020, indicating a growth of approximately 17.1%[16]. - The company’s total liabilities decreased from RMB 1,000,000 thousand as of December 31, 2020, to RMB 1,000,000 thousand as of June 30, 2021, reflecting a stable financial position[16]. - Trade receivables increased to RMB 712,931 thousand from RMB 685,303 thousand, reflecting a growth of 4.1%[14]. - Cash and cash equivalents as of June 30, 2021, totaled RMB 175,844,000, compared to RMB 158,495,000 as of December 31, 2020[68]. - Trade payables amounted to RMB 545,515,000 as of June 30, 2021, a decrease from RMB 573,527,000 as of December 31, 2020[72]. Sales and Revenue Breakdown - Sales of non-color coated galvanized steel products reached RMB 620,735 thousand, up 61.5% from RMB 384,423 thousand in 2020[28]. - Sales of color coated galvanized steel products increased to RMB 324,522 thousand, representing a 57.6% rise from RMB 205,679 thousand in the previous year[28]. - Revenue from external customers in China was RMB 927,744 thousand, a 55.8% increase compared to RMB 595,095 thousand in 2020[42]. - The total sales volume of cold-rolled steel products and galvanized steel products reached 147,811 tons, an increase of 30,113 tons or 25.6% compared to 117,698 tons in the same period of 2020[92]. - The average selling price of products increased by 26.4% compared to the same period last year[100]. Expenses and Costs - Total financing costs increased to RMB 11,480 thousand, up from RMB 8,317 thousand in 2020[44]. - Employee costs rose to RMB 24,745 thousand, compared to RMB 19,943 thousand in the same period of 2020[46]. - Selling and distribution expenses increased from approximately RMB 21,984,000 in 2020 to RMB 29,858,000 in 2021 due to higher shipping costs associated with increased sales volume[108]. - The cost of goods sold for the six months ended June 30, 2021, was RMB 868,061,000, compared to RMB 577,425,000 for the same period in 2020[58]. Cash Flow and Investments - Operating cash inflow for the six months ended June 30, 2021, was RMB 68,181 thousand, compared to RMB 37,218 thousand for the same period in 2020, reflecting an increase of about 83.3%[19]. - The company incurred a total of RMB 19,798 thousand in capital expenditures for property, plant, and equipment during the six months ended June 30, 2021, compared to RMB 5,935 thousand in the same period of 2020[19]. - The company’s cash and bank deposits as of June 30, 2021, were approximately RMB 274,874,000, up from RMB 243,545,000 at the end of 2020[115]. Shareholder Information - The company paid dividends of RMB 19,256 thousand for the year, compared to RMB 4,344 thousand in the previous year, reflecting a significant increase in shareholder returns[16]. - The board did not recommend any interim dividend for the six months ended June 30, 2021[129]. - As of June 30, 2021, Mr. Mei Zefeng holds 343,220,000 shares, representing 56.61% of the company's equity[144]. - Ms. Liu Ping holds 85,500,000 shares, representing 14.10% of the company's equity[144]. Corporate Governance and Compliance - The group has maintained compliance with corporate governance standards as per the listing rules[140]. - The group has no significant financial risks related to foreign currency, interest rates, or credit as of June 30, 2021[122]. Future Plans and Developments - The company is currently constructing a new factory expected to be completed by October 2021, which will enhance its color-coated production capacity[doc id='94']. - The new production line will incorporate advanced emission treatment devices and smart equipment to improve production efficiency and reduce costs[doc id='94']. - The group plans to utilize RMB 29,500,000 from the IPO proceeds for purchasing a new intelligent coating production line due to high gross margins[134].
康利国际控股(06890) - 2021 - 中期财报