HISOAR(SZ:002099)2024-08-30 09:08Financial Performance - The company's revenue for the reporting period was ¥1,038,840,461.32, a decrease of 13.17% compared to the same period last year[13]. - Net profit attributable to shareholders was ¥38,102,495.42, representing an increase of 98.74% year-on-year[13]. - The net profit after deducting non-recurring gains and losses was ¥30,850,943.86, down 56.73% from the previous year[13]. - The net cash flow from operating activities increased by 33.90% to ¥146,610,126.14[13]. - Basic and diluted earnings per share both increased to ¥0.02, a 100% increase compared to the previous year[13]. - In the first half of 2024, the company achieved operating revenue of 1.039 billion yuan, a year-on-year decrease of 13.17%, while net profit attributable to shareholders reached 38.10 million yuan, an increase of 98.74%[18]. - The pharmaceutical segment generated operating revenue of 733 million yuan, with a gross profit of 254 million yuan, while the CMO/CDMO business contributed 134 million yuan in revenue[18]. - The company reported a significant improvement in financial expenses, with a net financial income of approximately ¥19.44 million compared to a loss of ¥56.08 million in the same period last year[100]. - The total profit for the first half of 2024 was approximately ¥36.50 million, compared to ¥17.05 million in the same period of 2023[100]. Cash Flow and Investments - The company's cash flow from operating activities increased by 33.90% to 146.61 million yuan, primarily due to a decrease in cash paid for goods[25]. - The net cash flow from investment activities was -¥130,487,027.78, worsening from -¥8,242,137.19 in the first half of 2023[105]. - Cash inflow from financing activities increased to ¥1,581,599,490.00, up 18.5% from ¥1,334,157,300.00 year-over-year[105]. - The company reported a net increase in cash and cash equivalents of ¥46,092,030.98, a sharp decline from ¥572,785,810.35 in the first half of 2023[105]. - The company reported a total cash balance of approximately ¥1.49 billion at the end of the period, an increase from ¥1.42 billion at the beginning of the period, representing a growth of about 4.8%[183]. Shareholder and Equity Information - The company reported a plan not to distribute cash dividends or issue bonus shares for the fiscal year 2024[2]. - The employee stock ownership plan includes 476 employees holding a total of 31,500,888 shares, representing 1.95% of the company's total equity[51]. - The largest shareholder, Wang Yunfu, holds 7.34% of the shares directly and an additional 32.37% through Zhejiang Donggang Industrial Co., Ltd.[85]. - The company has 28,912 common shareholders at the end of the reporting period, with the largest shareholder holding 32.37%[83]. - A total of 31,478,531 shares were repurchased, accounting for 1.9447% of the total share capital, with a total transaction amount of RMB 151,419,651.94[82]. Risk Management and Compliance - The company faces risks from industry policy changes, production cost increases, and exchange rate fluctuations, which may adversely affect performance[46]. - The company has established a comprehensive inventory management system to mitigate risks related to inventory shortages and excess[47]. - The company has outlined specific risk management measures to address market, liquidity, credit, operational, and legal risks related to its derivative investments[35]. - The company emphasizes strict compliance with safety, environmental, and quality regulations to avoid potential operational risks[47]. - The company has committed to invest a total of 1.13 billion yuan in various projects, with 688.63 million yuan already utilized, representing a 61.06% investment progress[41]. Environmental Compliance - Zhejiang Haixiang Pharmaceutical reported a total COD discharge of 8.33 tons and ammonia nitrogen discharge of 0.50 tons, adhering to the wastewater discharge standards[57]. - The company has a valid pollution discharge permit until December 20, 2025, issued by the Taizhou Ecological Protection Bureau[55]. - The total hazardous waste generated by Zhejiang Haixiang Pharmaceutical was 59 tons, with no exceeding discharge reported[57]. - The company has implemented continuous monitoring for air pollutants, ensuring adherence to environmental standards[57]. - The company has no reported administrative penalties for environmental issues during the reporting period[62]. Corporate Governance and Management - The financial report for the first half of 2024 is guaranteed to be true, accurate, and complete by the company's management[2]. - The report includes a detailed analysis of the company's governance and social responsibility initiatives[3]. - The company has experienced changes in the shareholdings of its directors and senior management during the reporting period[53]. - The company has not encountered any issues or other situations regarding the use and disclosure of fundraising[41]. - The company has not engaged in speculative derivative investments during the reporting period[36]. Research and Development - The company is focused on enhancing its production capabilities and ensuring compliance with Good Manufacturing Practices (GMP)[6]. - The company continues to provide customized R&D and production services for globally recognized pharmaceutical companies[17]. - The company’s R&D investment increased by 1.80% to 64.22 million yuan compared to the previous year[25]. - The company has invested RMB 29.25 million in the raw material and intermediate CMO center expansion project, achieving 102.85% of the planned investment[39]. - The pharmaceutical comprehensive R&D center project has received RMB 6.88 million in investment, reaching 100% of the planned investment[39]. Financial Instruments and Accounting Policies - The company has established specific accounting policies and estimates for financial instruments, inventory, fixed asset depreciation, and revenue recognition[123]. - Financial assets are classified into three categories upon initial recognition: (1) financial assets measured at amortized cost; (2) financial assets measured at fair value with changes recognized in other comprehensive income; (3) financial assets measured at fair value with changes recognized in profit or loss[135]. - The company recognizes expected credit losses based on individual financial instruments or portfolios, with a focus on common risk characteristics[141]. - The company applies a straight-line method to account for lease payments for short-term and low-value asset leases, while recognizing right-of-use assets and lease liabilities for other leases[175]. - The company recognizes revenue based on the performance obligations identified in contracts, either over time or at a point in time[170].