浙江众成(002522) - 2018 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2018 was ¥483,052,636.09, representing a 57.07% increase compared to ¥307,546,557.36 in the same period last year[16]. - The net profit attributable to shareholders was ¥24,998,864.09, a decrease of 39.85% from ¥41,562,559.45 in the previous year[16]. - The net profit after deducting non-recurring gains and losses was ¥14,507,186.48, down 60.15% from ¥36,401,814.14 year-on-year[16]. - The net cash flow from operating activities increased by 314.24% to ¥28,134,427.78, compared to ¥6,791,767.53 in the same period last year[16]. - The basic earnings per share were ¥0.03, down 40.00% from ¥0.05 in the same period last year[16]. - The diluted earnings per share were also ¥0.03, reflecting a 40.00% decrease compared to ¥0.05 in the previous year[16]. - The weighted average return on equity was 1.37%, down from 2.52% in the same period last year, a decrease of 1.15%[16]. Revenue Breakdown - The company achieved a total revenue of 483.05 million yuan, an increase of 17.55 million yuan year-on-year[31]. - The POF shrink film business generated revenue of 294.88 million yuan, maintaining stability compared to the previous year[31]. - The thermoplastic elastomer business contributed 177.49 million yuan in revenue, marking a significant breakthrough from zero[31]. - The thermoplastic elastomer business's revenue share increased from 0% to 37% of total revenue, becoming a significant source of income[25]. Investment and Projects - The company is investing in a project to produce 120,000 tons of thermoplastic elastomer materials, contributing to increased asset balances[26]. - The company has filed over ten invention patents related to high-performance functional polypropylene films[33]. - The company has committed to invest a total of 211.34 million yuan in the new 3.4-meter polyolefin shrink film production line project, with an actual investment of 234.06 million yuan, achieving 100.10% of the planned investment[61]. - The annual production line for 2,000 tons of printing film construction project has a total investment of 41.13 million yuan, with an actual investment of 47.99 million yuan, reaching 116.69% of the planned investment[61]. Financial Position - The total assets at the end of the reporting period were ¥2,945,513,786.69, a slight increase of 0.38% from ¥2,934,323,776.85 at the end of the previous year[16]. - The net assets attributable to shareholders decreased by 1.58% to ¥1,783,403,809.52 from ¥1,812,122,883.20 at the end of the previous year[16]. - The company's total assets included ¥450,427,323.28 in inventory, reflecting a significant increase due to the subsidiary's operations[46]. - The company's fixed assets increased significantly by 16.36% year-on-year, reaching approximately CNY 1.25 billion due to the completion of the "annual production of 120,000 tons of thermoplastic elastomer materials" project[47]. Cash Flow and Expenses - Financial expenses surged by 1,301.35% to ¥15,480,572.97, attributed to increased interest expenses from various borrowings[36]. - The company experienced a significant decline in cash and cash equivalents, with a net increase of only ¥14,698,783.05, down 92.25% from ¥189,664,837.65[37]. - The company reported a significant increase in inventory, attributed to the operational commencement of its subsidiary, leading to a substantial year-on-year growth in inventory levels[47]. Risks and Challenges - The company faces significant risks including raw material price fluctuations, with key materials being linear low-density polyethylene and copolymer polypropylene, which are linked to international crude oil prices[77]. - Over 80% of the company's raw materials are imported from major suppliers such as Dow Chemical, Basell, and Itochu, leading to a concentration risk in supply[78]. - The company generates approximately 60% of its revenue from exports, making it vulnerable to exchange rate fluctuations, particularly with USD and EUR[78]. - The company has faced challenges in achieving expected benefits from the new 3.4-meter polyolefin shrink film production line projects due to intense competition and slower-than-expected market promotion[62]. Corporate Governance - The company has maintained compliance with all commitments made during its initial public offering and refinancing[88]. - The company reported no penalties or rectification measures during the reporting period[94]. - The company has not undergone any bankruptcy restructuring during the reporting period[91]. - The financial report for the half-year period has not been audited[89]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 39,914[131]. - The largest shareholder, Chen Dakuai, holds 43.95% of the shares, totaling 398,079,400 shares, with 141,068,200 shares pledged[131]. - The company did not issue or list any securities during the reporting period[129]. - The total number of shares after the changes is 905,779,387, maintaining 100% of the total shares[123].