Revenue and Profitability - The revenue for the six months ended June 30, 2022, was approximately RMB 93.6 million, an increase of about 13.5% compared to approximately RMB 82.5 million for the same period in 2021[4]. - Revenue from the sale of spherical graphite and by-products for the six months ended June 30, 2022, was approximately RMB 61.3 million, representing a year-on-year increase of about 27.4% from approximately RMB 48.1 million[4]. - Adjusted net profit for the six months ended June 30, 2022, was approximately RMB 21.6 million, a year-on-year increase of about 20.0% from approximately RMB 18.0 million[4]. - The adjusted net profit margin increased from approximately 21.8% for the same period in 2021 to about 23.1% for the six months ended June 30, 2022[4]. - The company reported a net profit attributable to the owners of the company for the six months was RMB 13,249,000, down 34.1% from RMB 20,147,000 in 2021[16]. - The company reported a net loss attributable to owners of RMB 147,732,000 for the six months ended June 30, 2022, compared to a net loss of RMB 147,558,000 for the same period in 2021, showing a marginal increase in losses[26]. - The company generated a profit of RMB 13,249 thousand for the period, reflecting a positive trend in profitability[61]. Cash and Liquidity - Cash and cash equivalents increased from approximately RMB 33.9 million as of December 31, 2021, to approximately RMB 65.9 million as of June 30, 2022[4]. - Cash and cash equivalents amounted to RMB 65,922,000, reflecting a decrease from RMB 206,743,000 in the previous period[19]. - The cash and cash equivalents at the end of the period increased to RMB 33,934,000 from RMB 31,988,000 at the beginning of the period, reflecting a growth of approximately 6%[28]. - Cash and cash equivalents increased to RMB 65,920,000 as of June 30, 2022, up from RMB 33,930,000 as of December 31, 2021, representing a growth of 94.3%[118]. - The company’s financing activities included repayments of bank loans and interest, with a net cash outflow of RMB 16,157,000 during the period[28]. Assets and Liabilities - Total assets as of June 30, 2022, were RMB 356,044,000, compared to RMB 334,076,000 as of December 31, 2021[19]. - Total liabilities increased to RMB 140,797,000 from RMB 132,078,000 at the end of the previous year[23]. - The company’s total equity attributable to owners increased to RMB 215,247,000 from RMB 201,998,000 as of December 31, 2021[23]. - The total trade receivables and notes receivable as of June 30, 2022, amounted to RMB 101,312,000, compared to RMB 148,645,000 as of December 31, 2021, indicating a decrease of 31.8%[106]. - The company reported accrued expenses and other payables of RMB 29,269,000 as of June 30, 2022, an increase of 58.5% from RMB 18,498,000 as of December 31, 2021[120]. Operational Performance - The company expects to maintain positive momentum in business growth due to increased production of graphite products and mining of unprocessed graphite ore from the Beishan mine in the second half of 2022[4]. - The company plans to expand processing capacity to approximately 8,000 tons of spherical graphite annually by the end of 2022[156]. - The company expects to reduce reliance on third-party suppliers for raw graphite as mining activities at the Beishan mine are anticipated to increase in the second half of 2022[157]. - The company aims to leverage the rapid growth of the Chinese new energy vehicle market, which is expected to drive demand for graphite products[159]. - The company plans to continue expanding its mining operations and has invested approximately RMB 2.0 million in new drilling and excavation equipment to support increased extraction activities[163]. Research and Development - Research and development expenses increased to RMB 4,509,000, a rise of 56.5% from RMB 2,882,000 in the previous year[16]. - Research and development expenses for the six months ended June 30, 2022, were RMB 261,000, compared to RMB 136,000 for the same period in 2021, reflecting an increase of 92.6%[93]. - The company has not reported any significant new product developments or technological advancements during this period[30]. Market and Industry Outlook - Government policies in Heilongjiang Province are expected to support the expansion and development of the graphite industry[160]. - The demand for unprocessed marble remained stable, with revenue from sales approximately RMB 1.5 million in 2022, compared to RMB 1.6 million in 2021, showing no significant change[173]. Financial Management and Risks - The company has no significant contingent liabilities as of June 30, 2022, and December 31, 2021[153]. - The company faces financial risks including interest rate risk, credit risk, and liquidity risk[199]. - The company maintains a prudent cash management policy to ensure strong liquidity for operational needs and business expansion[196].
中国石墨(02237) - 2022 - 中期财报