BBJX(BJ:430489)2024-08-29 10:52Project Development and Production - The company has successfully completed the trial production of the first phase of the biodegradable materials functional additives project with an annual output of 15,000 tons and the first phase of the diacid ester project with an annual output of 10,000 tons[1]. - The subsidiary, Yintemei, has progressed smoothly in the installation of equipment for the electronic materials intermediate project, which has entered the trial production stage[2]. - The construction of the Jiaxian New Materials project is progressing well, with the installation of equipment for the water-based liquid lubricant project nearing completion, and the surface active agent project has commenced construction[4]. - The company is advancing projects for biodegradable materials and electronic materials, with production of qualified products already achieved[23]. - The company has completed the construction of public facilities for its subsidiary, with a project for producing 15,000 tons of water-based liquid lubricants entering trial production phase[24]. - The company is expanding its product range and capacity through new projects, including a 10,000-ton diacid ester project and a 15,000-ton biodegradable materials project[49]. Financial Performance - The company achieved operating revenue of CNY 294,174,163.99, representing a year-on-year increase of 15.45%[15]. - The net profit attributable to shareholders decreased by 9.80% to CNY 18,331,861.78, while the net profit after deducting non-recurring gains and losses increased by 0.67% to CNY 15,936,284.18[15]. - The gross profit margin decreased to 14.53% from 17.05% in the same period last year[15]. - The company reported a total of 136,459,200 shares outstanding, with 62.80% being unrestricted shares and 37.20% being restricted shares[58]. - The company reported a total comprehensive income of CNY 18,362,137.11 for the current period, which includes a net profit of CNY 18,331,861.78[82]. - The company reported a profit allocation of CNY 27,291,840.00 to shareholders, indicating a focus on returning value to investors[83]. Assets and Liabilities - The total assets increased by 2.69% to CNY 1,099,037,439.64, while the total liabilities rose by 7.11% to CNY 568,030,684.12[16]. - The company's debt-to-asset ratio (consolidated) increased to 51.68% from 49.55% in the previous year[16]. - The company's total assets include cash and cash equivalents of 111,108,365.13 RMB, accounting for 10.11% of total assets, which decreased by 26.16%[29]. - Accounts receivable increased by 59.49%, reaching 81,697,711.16 RMB, which represents 7.43% of total assets[29]. - Inventory rose by 26.24% to 85,041,200.11 RMB, accounting for 7.74% of total assets[29]. - Total liabilities reached CNY 568,030,684.12, up from CNY 530,309,703.33, reflecting an increase of about 7.1%[69]. Research and Development - The company has obtained 4 new invention patents and 1 utility model patent during the reporting period, bringing the total number of patents to 153, including 29 invention patents and 124 utility model patents[3]. - Research and development expenses increased by 12.74% to CNY 10,627,192.77, accounting for 3.61% of operating revenue[32]. - The company is focusing on the development of environmentally friendly additives, which are expected to see significant growth opportunities[28]. - The company is increasing its R&D efforts to diversify its product offerings and reduce risks associated with a narrow product structure[49]. - The company has increased its R&D investment and established a high-quality technical team to ensure alignment with industry trends[50]. Environmental and Social Responsibility - The company has achieved a 100% compliance rate for wastewater and waste gas emissions during the reporting period[24]. - The company has invested in environmental protection measures, including a wastewater treatment facility with a daily capacity of 2,000 tons and an organic waste gas incineration system with a capacity of 12,000 cubic meters per hour[45]. - The company has committed to social responsibility by donating ¥100,000 worth of educational supplies to 100 underprivileged students[42]. - The company is actively enhancing its environmental protection capabilities and has increased investments in environmental governance to comply with stricter regulations[49]. Market and Sales Performance - Domestic sales accounted for CNY 255,181,383.12, a 14.17% increase, while export sales increased by 29.11% to CNY 38,992,810.87[36]. - The company is positioned to benefit from the increasing demand for high-efficiency, low-cost PVC products as the ban on lead progresses[28]. - Main business revenue accounted for 99.65% of total revenue, with a year-on-year increase of 32.15% in total revenue driven by increased sales volume of β-diketone products and phenylacetone[37]. - The gross margin for β-diketone products decreased by 5.61 percentage points due to a 5.88% increase in revenue and a 14.90% increase in costs[37]. Cash Flow and Financing - The company reported a cash flow from operating activities of CNY -34,966,279.73, indicating a significant increase in cash outflow compared to the previous year[18]. - Cash flow from investing activities also showed a net outflow of ¥52,238,913.18, which is a 28.76% increase in outflow compared to the previous period[38]. - Cash flow from financing activities decreased by 24.89%, with a net inflow of ¥47,973,956.18 compared to ¥63,869,980.44 in the previous period[38]. - The company received 118,000,000.00 CNY from borrowings in H1 2024, a decrease from 175,051,755.80 CNY in H1 2023, indicating reduced financing activity[78]. Governance and Shareholder Information - The company has maintained a stable board of directors with no changes in key management positions during the reporting period[65]. - The largest shareholder, Bengbu Energy Group Co., Ltd., holds 27.44% of the shares, while the second-largest shareholder, Bengbu Zhongcheng Venture Investment Co., Ltd., holds 7.34%[59]. - The company has 7,022 shareholders as of the end of the reporting period[58]. - There were no changes in the controlling shareholder or actual controller during the reporting period[60]. Accounting and Financial Reporting - The company has not experienced any changes in accounting policies or estimates compared to the previous financial statements[91]. - The company adheres to the accounting standards for business enterprises, ensuring that its financial statements reflect a true and complete picture of its financial status and operating results[102]. - The company prepares consolidated financial statements based on its own and subsidiaries' financial reports, treating the entire corporate group as a single accounting entity[114]. - The company recognizes revenue when control of the goods is transferred to the customer, which occurs upon customer acceptance and signing for the goods[198].