联化科技(002250) - 2024 Q2 - 季度财报

Financial Performance - The company's revenue for the first half of 2024 was CNY 2,978,007,248.11, representing a decrease of 18.75% compared to CNY 3,665,297,538.26 in the same period last year[11]. - The net profit attributable to shareholders was CNY 14,155,862.09, down 42.43% from CNY 24,587,865.70 year-on-year[11]. - The net profit after deducting non-recurring gains and losses was CNY 12,741,185.72, a significant decline of 90.20% compared to CNY 130,073,808.09 in the previous year[11]. - The company's operating revenue for the reporting period was ¥2,978,007,248.11, a decrease of 18.75% compared to ¥3,665,297,538.26 in the same period last year[35]. - Operating costs decreased by 20.01% to ¥2,288,312,851.33 from ¥2,860,654,330.55, primarily due to a decline in sales orders[35]. - The net profit for the first half of 2024 was CNY 43,171,412.62, down from CNY 49,316,776.88 in the same period last year, representing a decline of 6.4%[116]. - The total comprehensive income attributable to the parent company was ¥13,831,823.94, a decline of 67.3% from ¥42,182,241.03 in the previous year[117]. Cash Flow and Investments - The net cash flow from operating activities increased by 3.43% to CNY 673,897,924.48 from CNY 651,535,954.21[11]. - The company reported a significant increase in other business revenue by 72.54% to CNY 14,918,004.31[36]. - The net cash flow from investing activities was negative at CNY -372,857,478.98, an improvement from CNY -696,737,283.13 in the first half of 2023[122]. - Cash inflow from financing activities totaled CNY 1,502,081,438.95, down 26% from CNY 2,027,816,973.10 in the same period last year[122]. - The company's cash and cash equivalents at the end of the period increased to CNY 952,896,988.15, compared to CNY 823,907,665.13 at the end of the previous year[122]. Research and Development - Research and development investment fell by 37.15% to ¥139,381,371.76 from ¥221,758,722.90, reflecting a reduction in R&D activities[35]. - The company is actively expanding its research and development capabilities in the pharmaceutical sector, focusing on new technology platforms and clinical pipeline products[19]. - The pharmaceutical R&D team has expanded, developing over 8 continuous process projects in 2024, which significantly reduces costs and safety risks[30]. - The company has established a multi-level R&D platform, including early-stage and mid-stage R&D platforms, to enhance its technological innovation and production efficiency[29]. Business Segments - The company operates in four main business segments: plant protection, pharmaceuticals, functional chemicals, and equipment and engineering services[16]. - The plant protection segment focuses on the production and sales of pesticides and intermediates, with a stable global demand driven by increasing agricultural production needs[17]. - The pharmaceutical segment provides comprehensive CDMO services, supporting global innovative pharmaceutical companies in drug discovery and development, with a focus on enhancing customer relationships and expanding the client base[19]. - The functional chemicals segment is focusing on developing electronic chemicals, battery chemicals, and high-performance polymer materials, aligning with national strategies for battery chemical development and carbon neutrality goals[20]. Environmental Compliance and Sustainability - The company is committed to sustainable development and has invested in environmental protection and safety production measures[52]. - The company has maintained zero exceedances in all reported emissions across its facilities[64][65]. - The company achieved a CDP rating of B in 2023, marking a significant improvement in its climate change management efforts[73]. - The company has established a comprehensive greenhouse gas emission management system to promote sustainable development and minimize climate impact[73]. Corporate Governance - The management team guarantees the financial report's authenticity, accuracy, and completeness[1]. - All board members attended the meeting to review the semi-annual report[1]. - The company held its first extraordinary general meeting of 2024 on April 10, with an investor participation rate of 28.60%[59]. - The company has established a comprehensive internal control system to enhance operational efficiency across its geographically dispersed factories[56]. Risks and Challenges - The company faced risks from macroeconomic fluctuations, which could impact business operations and market demand, leading to reduced customer demand and sales[51]. - Environmental safety risks were highlighted due to the nature of the chemical industry, with potential increased costs to meet higher environmental standards impacting operational performance[52]. - The company is addressing raw material price volatility risks by enhancing supply chain management and reducing reliance on single raw materials, while also implementing strict supplier management[53]. Shareholder Information - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves[1]. - The company completed a share buyback of 11,913,139 shares, accounting for 1.29% of the total share capital, with a total expenditure of approximately RMB 79.82 million[95]. - The largest shareholder, Mou Jinxiang, holds 25.40% of the total shares, amounting to 234,535,853 shares[98]. - The company has a total of 32,765 common shareholders at the end of the reporting period[98].