SUNYES(SZ:002388)2025-08-26 11:50Financial Performance - Revenue for the reporting period was ¥879,945,728.27, a decrease of 12.36% compared to ¥1,003,994,812.13 in the same period last year[18]. - Net profit attributable to shareholders was ¥6,545,660.65, down 34.67% from ¥10,019,224.85 year-over-year[18]. - The net profit excluding non-recurring gains and losses was -¥8,929,515.52, a decline of 153.59% compared to ¥16,663,695.75 in the previous year[18]. - Basic and diluted earnings per share were both ¥0.0129, representing a decrease of 35.18% from ¥0.0199[18]. - Total assets at the end of the reporting period were ¥2,741,385,730.22, down 4.49% from ¥2,870,383,241.08 at the end of the previous year[18]. - The company's operating revenue for the current reporting period is ¥879,945,728.27, a decrease of 12.36% compared to ¥1,003,994,812.13 in the same period last year[56]. - The operating cost decreased by 13.24%, amounting to ¥766,260,295.47, down from ¥883,212,023.92 year-on-year[56]. - Sales expenses decreased by 23.87%, totaling ¥26,524,747.20, compared to ¥34,840,547.89 in the previous year[56]. - Management expenses increased by 19.28%, reaching ¥70,520,607.48, up from ¥59,120,594.68 year-on-year[56]. - Financial expenses rose by 23.13%, amounting to ¥24,915,048.92, compared to ¥20,234,012.59 in the previous year[56]. - The income tax expense increased by 112.90%, totaling ¥2,048,288.43, primarily due to a decrease in deferred income tax expenses compared to the previous year[56]. - The net cash flow from operating activities was -¥37,913,370.25, a slight decrease of 0.99% from -¥37,542,493.08 in the previous year[56]. - The cash flow from investing activities increased by 118.27%, amounting to ¥18,262,443.72, compared to -¥99,938,382.06 in the same period last year[56]. - The company reported a significant decline in cash generated from financing activities, down 133.38% to -¥39,305,058.34 compared to the previous year[58]. Risk Management - The company emphasizes the importance of risk management and has detailed potential operational risks and corresponding countermeasures in the report[4]. - The company has a comprehensive risk management strategy outlined in the report, focusing on operational risks[4]. - The company has established a comprehensive procurement database and a supplier evaluation system to manage procurement risks effectively[46]. - The company is facing financial risks related to accounts receivable fluctuations, but it is implementing measures to focus on long-term, creditworthy clients to mitigate these risks[84]. - The company is addressing raw material price volatility risks by optimizing supplier relationships and adjusting procurement strategies based on market trends[86]. Corporate Governance - The financial report is guaranteed to be true, accurate, and complete by the board of directors and senior management[4]. - The company emphasizes shareholder rights protection and has established a governance structure to ensure transparency and communication with investors[95]. - The company has implemented a restructuring of its board and management to improve internal controls following a change in control in February 2023[113]. - The company is enhancing its internal control environment and updating its articles of association in response to regulatory guidance[113]. - The company has strengthened its financial management processes, including the approval of fund payments and monitoring of large fund flows[115]. - The company has no significant related party transactions or major contracts during the reporting period, ensuring compliance with regulations[119][127]. Legal Matters - The company is currently involved in a legal dispute regarding equity transfer, which has resulted in the preservation of certain equity rights[68]. - The company is involved in significant litigation with a total amount of approximately ¥33,485.43 million related to a shareholder equity transfer dispute[110]. - Another ongoing litigation involves ¥16,599.24 million concerning a shareholder equity transfer contract dispute, with a court hearing scheduled for May 22, 2025[110]. - The company has a total of ¥10,790.34 million in other litigation matters, which are either in progress or have been concluded[111]. - The company has been fined ¥6 million by the China Securities Regulatory Commission for failing to disclose related party non-operating fund occupation and inaccurate bad debt provision[112]. - The chairman, Wang Weihua, received a warning and a fine of ¥800,000 for inaccurate bad debt provision[112]. Market and Industry Insights - The global production of lithium-ion battery electrolytes reached 100.5 million tons in the first half of 2025, a year-on-year increase of 46.71%[26]. - The domestic production of lithium-ion battery electrolytes was 94.1 million tons, with a year-on-year growth of 54.57%[26]. - The domestic market for electronic adhesives reached ¥12 billion, with a usage of approximately 20,000 tons annually[28]. - The electronic information manufacturing industry showed a strong resilience in the first half of 2025, with a year-on-year increase in added value of 11.1%, outperforming the overall industrial growth by 4.7 percentage points[31]. - The company has identified emerging markets such as renewable energy, Micro LED, and hydrogen power generation as key development directions, enhancing its competitive edge in these sectors[36]. Research and Development - The company is committed to continuous R&D investment to meet market demands and provide customized solutions for clients, enhancing product quality and production efficiency[35]. - The company has made significant technological advancements in lithium-ion battery electrolytes, with products like silicon-carbon electrolytes achieving large-scale shipments and high-voltage ternary electrolytes recognized as provincial high-tech products[33]. - The company focuses on R&D in adhesive and lithium-ion battery materials, emphasizing independent innovation and market-oriented development[48]. - The company has allocated 1.6 million for research and development, aiming to enhance product offerings[181]. - The company has allocated 8.763 million yuan for research and development, emphasizing its commitment to innovation[187]. Shareholder and Equity Matters - The company reported no cash dividends, stock bonuses, or capital reserve transfers to increase share capital for the current period[5]. - The company approved the release of 2.76762 million restricted stock units under its 2023 incentive plan, with some shares being repurchased and canceled due to voluntary forfeiture by participants[91]. - The company did not meet the performance assessment targets for 2024, resulting in the repurchase and cancellation of 2.79025 million restricted stocks for 27 incentive recipients[92]. - The controlling shareholder increased its stake by acquiring 5,197,404 shares, representing 1.02% of the total share capital, from April 11, 2025, to May 12, 2025[142]. - The company’s shareholding structure includes 6,936,667 restricted shares, with 2,462,562 shares released from restrictions during the reporting period[149]. Financial Position - The company has a total of CNY 4,717 million in surplus reserves as of the end of the reporting period[190]. - The company’s total equity of CNY 1,231.790 million as of the end of the reporting period[189]. - The company has not identified any significant doubts regarding its ability to continue as a going concern for the next 12 months[194]. - The company’s financial statements reflect its financial position and operating results as of June 30, 2025, in accordance with the disclosure requirements[196]. - The company has not reported any significant changes in accounting policies or estimates during the reporting period[195].