JHCC(SZ:002484)2018-08-22 16:00Financial Performance - The company's operating revenue for the first half of 2018 was CNY 903,469,299.51, representing a 22.26% increase compared to CNY 738,979,107.86 in the same period last year[18]. - The net profit attributable to shareholders was CNY 109,435,577.51, up 24.15% from CNY 88,147,147.56 year-on-year[18]. - The net profit after deducting non-recurring gains and losses was CNY 82,017,436.91, reflecting a 26.54% increase from CNY 64,816,344.63 in the previous year[18]. - The company achieved a revenue of CNY 903,469,299.51, representing a year-on-year growth of 22.26%[33]. - The net profit attributable to shareholders was CNY 109,435,577.51, reflecting a year-on-year increase of 24.15%[33]. - The company reported a significant increase in foreign sales, which reached ¥266,062,700.70, a 42.06% increase year-over-year[37]. - The total profit for the first half of 2018 was ¥134,085,933.25, an increase from ¥110,090,040.51 year-on-year, reflecting a growth of 21.8%[127]. - Net profit for the first half of 2018 was ¥115,395,134.13, representing a 21.5% increase from ¥94,960,769.05 in the previous year[128]. Cash Flow and Assets - The company reported a net cash flow from operating activities of CNY 67,099,609.17, a decrease of 35.49% compared to CNY 104,016,309.79 in the same period last year[18]. - Cash and cash equivalents at the end of the reporting period were ¥606,053,787.90, an increase in proportion to total assets from 13.73% to 15.51%[42]. - The company’s cash flow from operating activities decreased by 35.49% to CNY 67,099,609.17, attributed to tighter raw material supply and increased employee compensation[35]. - The ending balance of cash and cash equivalents was CNY 513,311,834.72, compared to CNY 458,721,019.71 in the previous period, reflecting an increase of approximately 11.9%[136]. - Total current assets decreased from CNY 2,628,712,803.39 to CNY 2,578,749,917.59, a decline of approximately 1.5%[118]. - Total assets at the end of the reporting period were CNY 3,908,428,985.55, an increase of 1.57% from CNY 3,847,939,889.25 at the end of the previous year[18]. - Total liabilities increased from CNY 618,579,445.01 to CNY 646,278,926.06, an increase of about 4.5%[119]. Investments and Projects - The company plans to expand production capacity to meet the rising market demand due to environmental regulations affecting material costs and supply[4]. - The company is investing in multiple projects, including aluminum electrolytic capacitors and film capacitors, which may dilute current profits due to fixed asset transfers[5]. - The company has invested a total of ¥106,367.59 million from the raised funds, with no changes in the purpose of the raised funds during the reporting period[50]. - The cumulative investment in the supercapacitor industrialization project is RMB 160.7645 million, representing 20.10% of the total committed investment of RMB 800 million[53]. - The company has allocated RMB 95 million for the technical transformation and expansion project of aluminum electrolytic capacitors for flat-screen TVs and variable frequency air conditioners, with a cumulative investment of RMB 95.8491 million as of December 31, 2016[51]. - The company has established a new subsidiary, Tianjin Baina Energy Technology Co., Ltd., during the reporting period, which is expected to contribute positively to overall operations[63]. Shareholder and Dividend Information - The company will not distribute cash dividends or issue bonus shares for the reporting period[6]. - The company has committed to distributing cash dividends when conditions permit, ensuring that the distributed profits are not less than 30% of the average distributable profits over the last three years[71]. - The total number of ordinary shareholders at the end of the reporting period is 21,665[102]. - The largest shareholder, Yiwei Investment Limited, holds 31.84% of the shares, totaling 259,584,000 ordinary shares[102]. - The second-largest shareholder, Zhu Xiang, holds 10.37% of the shares, totaling 84,553,846 ordinary shares, with 61,749,797 shares pledged[102]. Risks and Challenges - The company is facing risks from trade protectionism, particularly affecting exports to the U.S., which amounted to over USD 7 million in 2017[4]. - The company has terminated the high-performance high-voltage capacitor foil expansion project due to increased electricity costs in Inner Mongolia, which would have hindered expected returns[57]. - The company has not reported any significant environmental issues during the reporting period[93]. - The company has no outstanding related debts or receivables as of the reporting period[85]. Research and Development - Research and development expenses rose to CNY 48,564,208.45, an increase of 23.38% as the company continues to develop new products[35]. - The company has established a national postdoctoral research station and a provincial engineering technology research center, enhancing its R&D capabilities[29]. - The company’s supercapacitor technology has reached an internationally advanced level, positioning it well in the market[26]. Related Party Transactions - The company engaged in related party transactions, with procurement from joint ventures amounting to 4,617.13 million yuan, accounting for 7.26% of total procurement[80]. - The company reported sales of finished products to joint ventures totaling 4,464.34 million yuan, representing 5.07% of total sales[81]. - The company has a significant related party transaction in property management, with a transaction amount of 32.4 million yuan, which is 49.98% of the total property management revenue[81]. Financial Position and Equity - The total equity at the end of the current period was CNY 3,262,149,790, showing a slight increase compared to the previous period[145]. - The company's total liabilities and equity at the end of the current period were CNY 3,262,149,790, maintaining a stable financial position[145]. - The total equity of the company at the end of the reporting period is 3,035,543,441.00 CNY, showing a significant increase from the previous period[149].