长青股份(002391) - 2018 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 1,490,032,099.33, representing a 41.88% increase compared to CNY 1,050,197,278.91 in the same period last year[16]. - The net profit attributable to shareholders was CNY 172,533,614.51, up 42.72% from CNY 120,890,842.97 year-on-year[16]. - The net profit after deducting non-recurring gains and losses was CNY 177,340,525.16, reflecting a 40.72% increase compared to CNY 126,023,746.20 in the previous year[16]. - The basic earnings per share increased to CNY 0.4799, a rise of 42.70% from CNY 0.3363 in the same period last year[16]. - The company achieved a revenue of CNY 1,490,032,099.33 in the first half of 2018, representing a year-on-year growth of 41.88%[42]. - The net profit attributable to the parent company reached CNY 172,533,600, an increase of 42.72% compared to the same period last year[38]. - The sales revenue from the insecticide product line was CNY 749,589,582.29, marking a significant growth of 78.76% year-on-year[45]. - The company’s self-operated exports amounted to CNY 697,860,607.22, reflecting a remarkable increase of 111.78% compared to the previous year[45]. - The company’s pesticide revenue increased by 43.49% year-on-year, reaching ¥1,451,190,408.54, while the cost of sales rose by 50.54%[48]. - The gross margin for the pesticide segment was 25.53%, a decrease of 3.49% compared to the previous year[48]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,980,965,001.66, which is a 4.08% increase from CNY 3,825,020,229.83 at the end of the previous year[16]. - The net assets attributable to shareholders increased to CNY 3,112,266,826.67, up 2.13% from CNY 3,047,385,053.29 at the end of the previous year[16]. - Total current assets increased to CNY 1,760,623,706.47 from CNY 1,618,678,045.70, representing a growth of approximately 8.75%[140]. - Total liabilities increased to CNY 851,812,076.00 from CNY 764,492,832.95, reflecting a growth of approximately 11.43%[142]. - Short-term borrowings increased to CNY 396,000,000.00 from CNY 360,000,000.00, marking an increase of about 10%[141]. - The accounts receivable increased to CNY 421,693,356.54 from CNY 265,959,846.45, indicating a growth of about 58.66%[140]. - The inventory increased by 21.49% year-on-year, reaching ¥841,181,696.63, representing 21.13% of total assets[52]. Cash Flow - The net cash flow from operating activities was CNY 212,293,574.46, representing a 12.50% increase compared to CNY 188,697,058.23 in the same period last year[16]. - The total cash inflow from operating activities amounted to CNY 1,092,141,347.45, compared to CNY 867,113,950.61 in the previous year, indicating a year-on-year increase of about 25.9%[157]. - Cash outflow from operating activities was CNY 879,847,772.99, up from CNY 678,416,892.38, reflecting a rise of approximately 29.6%[157]. - The net cash flow from investing activities was -CNY 90,674,003.89, an improvement from -CNY 199,677,192.79 in the previous year, showing a reduction in losses by about 54.5%[158]. - The ending balance of cash and cash equivalents was CNY 203,443,454.44, compared to CNY 224,296,435.43 at the end of the previous year, showing a decrease of about 9.2%[158]. Investment and R&D - Research and development investment increased by 50.29% to CNY 60,160,900.25, indicating a commitment to enhancing product innovation[43]. - The company is focusing on technological upgrades, with ongoing projects for producing 300 tons of epoxy fungicide and 200 tons of insecticide annually[39]. - The company has received multiple awards for innovation and environmental management, including being recognized as a "Jiangsu Province Innovation Enterprise" and a "National High-tech Enterprise"[30][31]. Market Position and Competition - The company is the largest producer and export base of diphenyl ether herbicides in China, with its herbicide product, flumetsulam, recognized as a famous brand in Jiangsu Province, leading in both production and sales nationwide[26]. - The global pesticide market is expected to grow due to increasing food demand driven by population growth and the rise of genetically modified crops[25]. - The company faces risks related to industry competition, capacity expansion, raw material price fluctuations, and environmental policies[4]. - The company is facing increased competition in the pesticide industry, with over 1,700 companies holding production qualifications, leading to price competition[73]. Environmental Compliance - The company meets environmental discharge standards for major pollutants, including particulate matter and sulfur dioxide[108]. - The company has implemented measures to ensure compliance with environmental regulations[108]. - The company has a wastewater treatment capacity of 4,000 tons per day for the parent company and 2,000 tons per day for the Nantong subsidiary, ensuring compliance with the "Integrated Wastewater Discharge Standard" (GB8978-1996)[111]. - The company has installed an online monitoring system for pollutants, including COD, pH, and ammonia nitrogen, to ensure stable wastewater discharge[111]. - The company has achieved compliance with all environmental regulations and has not faced any administrative penalties during the reporting period[113]. Shareholder Information - The total number of shares is 359,486,180, with 33.87% being restricted shares and 66.13% being unrestricted shares[122]. - The largest shareholder, Yu Guoquan, holds 30.60% of the shares, totaling 110,009,002 shares[125]. - The company plans to maintain a stable profit distribution policy, committing to distribute at least 20% of its distributable profits as cash dividends annually, provided it achieves profitability[83]. - The company did not distribute cash dividends or issue new shares in the first half of 2018, indicating a focus on reinvestment or cash preservation[81]. Corporate Governance - The financial report for the first half of the year has not been audited[138]. - The company has not engaged in any major asset acquisitions or related party transactions during the reporting period, indicating a conservative approach to capital management[90][91]. - There were no significant legal disputes or penalties reported during the reporting period, reflecting a stable operational environment[86][88].