Financial Performance - For the six months ended June 30, 2021, the group achieved a consolidated revenue of RMB 241,786,926, representing a year-on-year growth of 46.30% compared to RMB 165,271,920 for the same period in 2020[6] - The consolidated gross profit for the same period was RMB 28,064,013, reflecting a year-on-year increase of 92.72% from RMB 14,562,341 in 2020[6] - The profit attributable to equity holders of the company was RMB 809,551, a significant turnaround from a loss of RMB 5,266,120 in the previous year, marking a growth of 115.37%[6] - The company reported earnings per share of RMB 0.043, compared to a loss per share of RMB 0.278 in the same period last year[6] - Total revenue for the six months ended June 30, 2021, was RMB 241,485,691, an increase from RMB 165,061,211 in the same period of 2020, representing a growth of approximately 46.2%[15] - The company incurred a loss before tax of RMB (1,876) for the six months ended June 30, 2021, improving from a loss of RMB (4,126) in the same period of 2020[23] - The operating gross profit margin improved to 11.61%, up from 8.81% in the previous year[39] Assets and Liabilities - Total assets as of June 30, 2021, amounted to RMB 437,579,799, an increase from RMB 392,918,507 as of December 31, 2020[8] - Current assets increased to RMB 301,330,703 from RMB 260,172,869 at the end of 2020[8] - Current liabilities rose to RMB 244,141,156, up from RMB 194,316,304 at the end of 2020[9] - Non-current assets totaled RMB 136,249,096, compared to RMB 132,745,638 at the end of 2020[8] - The company’s net asset value attributable to equity holders was RMB 155,788,802, slightly up from RMB 155,143,579 at the end of 2020[9] - As of June 30, 2021, the net accounts receivable amounted to RMB 56,332,343, an increase of 28.3% from RMB 43,892,498 as of December 31, 2020[27] - The accounts payable as of June 30, 2021, totaled RMB 69,842,562, which is a significant increase from RMB 43,747,089 as of December 31, 2020[29] - Other payables amounted to RMB 38,714,370 as of June 30, 2021, slightly down from RMB 39,615,529 as of December 31, 2020[30] Cash Flow - The company reported a net cash flow from operating activities of RMB 17,966,948 for the six months ended June 30, 2021, compared to a net cash outflow of RMB 10,036,490 in the same period of 2020[11] - The cash and bank balances at the end of the period increased to RMB 26,789,577 from RMB 11,769,699 at the end of the same period in 2020[11] - The company reported a net cash outflow from investing activities of RMB (1,209,366) for the six months ended June 30, 2021, compared to RMB (212,492) in the same period of 2020[11] - The company reported financing cash outflows of RMB (3,500,000) for the six months ended June 30, 2021, compared to RMB (2,200,000) in the same period of 2020[11] Expenses - Sales and distribution costs increased by 40.45% to RMB 13,117,605, compared to RMB 9,339,918 in the prior year, primarily due to increased marketing efforts in a competitive market[40] - Research and administrative expenses rose by 4.13% to RMB 14,279,494, compared to RMB 13,713,407 in the previous year[41] - Financing costs increased by 10.82% to RMB 735,141, up from RMB 663,362 in the same period last year[42] Dividends and Shareholder Information - The company did not recommend the payment of a dividend for the six months ended June 30, 2021[6] - The company did not recommend an interim dividend for the six months ended June 30, 2021, compared to no dividend declared for the same period in 2020[34] - The board decided not to declare any interim dividend for the six months ending June 30, 2021[68] Business Strategy and Market Position - The company reported a significant increase in sales volume of compound fertilizers, despite a decline in overall profit margins due to rising raw material costs[38] - The company is focusing on the development of its sludge treatment business in Guangdong, which has become an important profit growth point[38] - The company is actively adjusting its product structure in response to market competition and price sensitivity among farmers[38] - The company plans to enhance marketing management and adjust product structure to improve market share in response to the recovery of the compound fertilizer market[49] - The aging population in China, with 264 million people aged 60 and above, presents significant growth opportunities in the elder care services sector, which the company aims to capitalize on through management consulting services and partnerships with leading institutions[50] Governance and Compliance - The company has established an audit committee to oversee financial reporting procedures and ensure effective internal controls and risk assessments[61] - The company’s audit committee, consisting of three independent non-executive directors, reviewed the interim results and report for the six months ending June 30, 2021[62] - The company emphasizes effective board governance and transparency to all shareholders[67] - There were no known violations of the trading code by directors during the review period[65] - As of June 30, 2021, there were no known conflicts of interest or competition between the company's directors, supervisors, or management shareholders and the company's business[60] Management and Personnel - The company’s executive director's salary was adjusted from RMB 502,500 to RMB 357,032 effective May 1, 2021, following the retirement of Mr. Hao Zhihui[59] - The company is currently seeking candidates for the CEO position to comply with the corporate governance code[67] - The CEO position is currently held by the chairperson, which does not meet the requirement of separating the roles as per the corporate governance code[67] - The company did not establish any arrangements allowing directors or supervisors to profit from purchasing company shares during the review period[53] - The company has not entered into any management contracts for overall business or any major business operations during the first half of 2021[64] - The company has not approved any new share option plans during the period ending June 30, 2021[63] Capital Commitments - The company has no significant capital commitments not provided for in the financial statements as of June 30, 2021[32] - The company has provided guarantees for bank financing of certain subsidiaries amounting to RMB 0 as of June 30, 2021, down from RMB 10,893,750 in June 2020[33] Historical Performance - SJKGC's audited after-tax profit for the year ending December 31, 2017, was approximately USD 2,922,000, which did not meet the guaranteed profit of USD 5,390,000[57] - For the year ending December 31, 2018, SJKGC's audited after-tax profit was USD 305,000, and for 2019, it was USD 411,000, both failing to meet the profit guarantee[58]
泰达生物(08189) - 2021 - 中期财报