Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 382,810 thousand, representing a 55.4% increase from RMB 246,356 thousand in the same period of 2021[3] - Profit attributable to equity holders for the same period was RMB 40,880 thousand, a significant increase from RMB 242 thousand in the prior year[3] - Gross profit for the six months was RMB 91,015 thousand, compared to RMB 29,755 thousand in the previous year, indicating a substantial improvement in profitability[6] - Operating profit for the period was RMB 49,216 thousand, recovering from an operating loss of RMB 888 thousand in the same period last year[6] - Total comprehensive income for the period was RMB 40,659 thousand, compared to RMB 20 thousand in the same period last year[6] - Basic and diluted earnings per share attributable to equity holders was RMB 0.077, a significant increase from RMB 0.000 in the prior year[6] - The company reported a net cash increase of RMB 49,615 thousand for the six months ended June 30, 2022, compared to a decrease of RMB 76,628 thousand in the same period of 2021[16] - Operating cash flow for the six months ended June 30, 2022, was RMB 49,088 thousand, a significant improvement from a cash outflow of RMB 7,372 thousand in the same period of 2021[16] - The total employee cost for the six months ended June 30, 2022, was approximately RMB 42.39 million, an increase from RMB 30.33 million for the same period in 2021[90] Assets and Liabilities - Total assets increased to RMB 1,149,413 thousand as of June 30, 2022, up from RMB 956,515 thousand at the end of 2021[9] - The company reported a net cash and bank balance of RMB 113,945 thousand, compared to RMB 58,628 thousand at the end of the previous year[9] - The company’s non-current assets (excluding deferred tax assets) amounted to RMB 724,959 thousand as of June 30, 2022, compared to RMB 618,998 thousand as of December 31, 2021[32] - Trade receivables as of June 30, 2022, amounted to RMB 66,632,000, an increase from RMB 56,263,000 as of December 31, 2021, indicating growth in sales or credit terms[48] - Trade payables as of June 30, 2022, amounted to RMB 41.76 million, a decrease from RMB 52.21 million as of December 31, 2021[60] - The company has outstanding bank loans totaling RMB 244.5 million, with a loan balance of RMB 195 million used for constructing a new factory in Dalian[87] - The company has a debt-to-asset ratio of 35.8% as of June 30, 2022, compared to 27.1% as of December 31, 2021[88] Taxation and Income - The income tax expense for the period was RMB 7,498,000, compared to a tax credit of RMB (1,157,000) in the previous year, reflecting a substantial change in tax obligations[41] - The deferred tax expense for the period was RMB (788,000), compared to RMB (2,998,000) in the previous year, indicating improved tax efficiency[41] - The net financing cost for the six months ended June 30, 2022, was RMB 1,064 thousand, an increase from RMB 248 thousand in the previous year[37] Dividends and Share Capital - The company did not recommend an interim dividend for the six months ended June 30, 2022[3] - The company did not recommend the distribution of an interim dividend for the six months ended June 30, 2022, consistent with the previous year[45] - The company maintained a weighted average of 529,700,000 shares issued during both periods, reflecting stability in share capital[43] Growth and Development - The company has shown a strong growth trajectory, with a focus on expanding its market presence and enhancing product offerings[6] - The company is focusing on the construction of the Dalian plant, which is expected to enhance production capacity and support new product development[69] - The Changzhou plant is undergoing upgrades to improve production efficiency and implement smart manufacturing solutions[71] - The Lianyungang plant achieved profitability in the second quarter of 2022, significantly narrowing losses compared to the same period last year[72] - The company plans to accelerate transformation and upgrade efforts, particularly in the Dalian production base, to create new economic benefits[73] - Research and development projects are progressing steadily, with increased investment in new product development and existing product process improvements[66] - The company emphasizes technology innovation as a long-term development source, increasing R&D investment to accelerate product upgrades and develop competitive new products[75] - The company is actively developing new functional food additives and materials to extend its product line and strengthen its market position[79] Market Presence - The company reports that approximately 35% of its sales revenue comes from exports, while domestic sales account for about 65%[82] - The company plans to enhance its market presence by focusing on high-end customers and expanding internationally through collaborations with major global clients[77] Corporate Governance - The company appointed Ms. Zheng Minhua as an independent non-executive director and chairman of the audit committee effective July 1, 2022, after a vacancy in the audit committee chair[132] - The company complied with the corporate governance code and related regulations as of June 30, 2022, following the appointment of the new independent non-executive director[132] - All directors, except for Ms. Ou Fenglan, were unable to attend the annual general meeting on May 25, 2022, due to the COVID-19 pandemic[132] Shareholder Information - Major shareholders include Hong Kong Newborn Venture Capital Limited with 135,000,000 shares, representing 39.30% of foreign shares[122] - Hong Kong Biochemical High-Tech Investment Limited holds 67,500,000 shares, accounting for 19.65% of foreign shares[122] - The total issued shares as of June 30, 2022, are 529,700,000, comprising 183,700,000 H shares, 2,500,000 domestic shares, and 343,500,000 foreign shares[128] - The percentage of foreign shares is calculated based on the total of 343,500,000 issued foreign shares[122] - The percentage of H shares is based on the total of 183,700,000 issued H shares[123] - Lin Mao holds beneficial ownership of 66,000,000 foreign shares and 2,620,000 H shares, representing 19.21% and 1.43% respectively[120] - Shanghai Technology Venture Investment Co., Ltd. has beneficial ownership of 62,500,000 foreign shares, which is 18.20% of the total[122] Risk Management - The company did not report any significant changes in risk management policies since the end of the previous year[27] - As of June 30, 2022, the company had no significant contingent liabilities[95] Employee Incentives - The company has established an employee incentive plan, with performance-based bonuses amounting to approximately RMB 4 million for the six months ended June 30, 2022[91]
常茂生物(00954) - 2022 Q2 - 季度财报