Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 1,854,244,000, representing a 79.4% increase from RMB 1,034,498,000 in the same period of 2021[16] - Gross profit for the period was RMB 812,823,000, compared to RMB 233,688,000 in the previous year, indicating a significant increase in profitability[16] - Profit before income tax reached RMB 722,789,000, a substantial rise from RMB 131,846,000 in the prior year, reflecting improved operational efficiency[16] - Net profit for the period was RMB 551,602,000, compared to RMB 92,092,000 in the same period last year, marking an increase of 498.5%[16] - Earnings per share for the period attributable to owners of the Company was RMB 0.589, significantly higher than RMB 0.120 in the previous year[16] - Total comprehensive income for the period was RMB 551,590,000, compared to RMB 92,332,000 in the same period of 2021, showing strong overall performance[19] - The Company reported other income and gains of RMB 22,490,000 for the period, contributing positively to the financial results[16] - The cost of sales increased to RMB 1,041,421,000, up from RMB 800,810,000 in the previous year, reflecting higher production costs[16] Cash Flow and Assets - Net cash generated from operating activities for the six months ended June 30, 2022, was RMB 314,878,000, representing a 146.3% increase from RMB 127,733,000 in the same period of 2021[24] - Cash and cash equivalents at the end of the period reached RMB 360,936,000, up from RMB 101,816,000 at the end of June 30, 2021, marking a significant increase of 254.5%[24] - The company reported a net current assets value of RMB 913,715,000 as of June 30, 2022, compared to RMB 530,872,000 at the end of 2021, reflecting a growth of 72%[21] - As of June 30, 2022, total assets amounted to RMB 2,193,477,000, an increase of 23.6% compared to RMB 1,773,198,000 as of December 31, 2021[21] - The company’s bank and cash balances increased to RMB 360,936,000 as of June 30, 2022, compared to RMB 226,349,000 at the beginning of the period, indicating a growth of 59%[24] Equity and Liabilities - Total equity attributable to owners of the Company increased to RMB 2,108,202,000 as of June 30, 2022, from RMB 1,747,058,000 at the end of 2021, indicating a rise of 20.6%[21] - The company incurred a net cash used in investing activities of RMB 114,955,000 for the six months ended June 30, 2022, slightly higher than RMB 110,054,000 in the same period of 2021[24] - The company’s income tax paid for the six months ended June 30, 2022, was RMB 150,173,000, compared to RMB 18,828,000 in the previous year, showing a significant increase[24] - The company’s non-current liabilities, specifically deferred tax liabilities, rose to RMB 28,189,000 as of June 30, 2022, from RMB 18,388,000 at the end of 2021[21] Future Outlook and Strategy - The Company plans to continue expanding its market presence and investing in new product development to sustain growth[20] - Future outlook remains positive with expectations of continued revenue growth driven by increased demand and operational improvements[20] Shareholder Information - The company declared a final dividend of RMB 147,900,000 for the year 2021[96] - The Board declared an interim dividend of HK$0.12 per share for the six months ended 30 June 2022, compared to no interim dividend in the previous year[155] - The weighted average number of ordinary shares for basic earnings per share was 852,847,000 for the six months ended 30 June 2022, slightly up from 851,954,000 in the previous year[157] Research and Development - Research costs for the period were RMB 40,645,000, up from RMB 36,926,000 in the prior year, indicating increased investment in R&D[140] Trade Receivables and Payables - Trade receivables and bills receivable as of 30 June 2022 totaled RMB 879,823,000, an increase of 71.7% from RMB 512,690,000 as of 31 December 2021[171] - The Group's impairment loss allowance for trade receivables was RMB 881,521,000 as of 30 June 2022, compared to RMB 514,190,000 as of 31 December 2021, indicating a significant increase in credit risk[171] - As of June 30, 2022, trade payables amounted to RMB 43,048,000, a decrease from RMB 47,378,000 as of December 31, 2021, representing a reduction of approximately 9.8%[186] Share Options - The estimated fair value of share options granted under the 2016 Share Option Scheme was HKD 3,941,000, with a weighted average fair value of HKD 0.219 per option[198] - As of June 30, 2022, the number of unexercised share options under the 2016 Share Option Scheme was 18,000,000, representing 2.1% of the total issued shares[198] - No share options were granted under the 2016 Share Option Scheme during the six months ended June 30, 2022[199]
天德化工(00609) - 2022 - 中期财报