CJS(SH:600176)2022-08-22 16:00Financial Performance - The company's operating revenue for the first half of 2022 reached ¥11.91 billion, an increase of 39.13% compared to ¥8.56 billion in the same period last year[20]. - Net profit attributable to shareholders for the first half of 2022 was ¥4.21 billion, up 61.96% from ¥2.60 billion in the previous year[20]. - Basic earnings per share increased by 61.97% to ¥1.0507 from ¥0.6487 in the same period last year[19]. - The weighted average return on net assets rose to 17.27%, an increase of 3.28 percentage points compared to 13.99% in the previous year[19]. - The net cash flow from operating activities was ¥3.46 billion, representing a 21.76% increase from ¥2.84 billion in the previous year[20]. - The company's total assets at the end of the reporting period were ¥48.20 billion, a 9.98% increase from ¥43.83 billion at the end of the previous year[20]. - The net assets attributable to shareholders increased by 10.98% to ¥25.05 billion from ¥22.57 billion at the end of the previous year[20]. - The company reported a significant decrease in financial expenses by 51.58%, attributed to increased interest income and foreign exchange gains[31]. - The company's net profit after deducting non-recurring gains and losses for the first half of 2022 was approximately ¥2.83 billion, representing a 12.64% increase compared to the same period last year[98]. - The EBITDA to total debt ratio improved to 0.2787, a 35.36% increase from 0.2059 in the previous year[98]. - The interest coverage ratio increased significantly to 26.31, up 74.35% from 15.09 in the same period last year[98]. - The cash interest coverage ratio rose to 24.28, reflecting a 55.64% increase compared to 15.60 in the previous year[98]. Revenue and Sales - In the first half of 2022, the company achieved a sales volume of 1.0702 million tons of fiberglass and 328 million meters of electronic cloth, generating a total revenue of CNY 9,298.91 million, accounting for 94.93% of the main business revenue[24]. - The company's operating revenue increased by 39.13% year-on-year, reaching CNY 11,909.68 million, while operating costs rose by 64.32% to CNY 7,499.97 million[31]. - The company reported a total profit for the first half of 2022 of CNY 5,131,170,869.98, up from CNY 3,113,132,012.79 in the previous year, marking an increase of 64.73%[110]. - The company's operating profit for the first half of 2022 was CNY 5,169,770,122.41, an increase of 64.73% from CNY 3,137,638,059.28 in the first half of 2021[110]. Assets and Liabilities - Accounts receivable increased by 48.07% to 2,594,656,275.72 yuan, driven by higher revenue and increased credit sales[33]. - The company reported a 272.24% increase in prepayments, totaling 716,653,537.80 yuan, due to higher advance payments for projects and materials[34]. - Inventory rose by 36.28% to 2,997,126,083.23 yuan, attributed to increased production capacity and higher stock levels[33]. - The company's fixed assets increased by 9.75% to 26,986,018,504.73 yuan, primarily due to the completion of new production lines[34]. - Current liabilities totaled approximately ¥16.29 billion, up from ¥13.88 billion at the end of the previous year[102]. - The company's total liabilities to assets ratio was 45.72%, a slight decrease of 0.61% from the previous year[98]. Cash Flow - The cash inflow from operating activities for the first half of 2022 was CNY 11,135,271,021.75, a 54.4% increase from CNY 7,189,017,409.72 in the same period of 2021[115]. - The net cash flow from operating activities was CNY 3,463,110,281.23, up from CNY 2,844,178,770.61 in the first half of 2021, representing a growth of 21.7%[115]. - The cash inflow from investment activities totaled CNY 7,579,753,234.13, significantly higher than CNY 364,706,204.38 in the previous year[116]. - The cash outflow for purchasing goods and services was CNY 4,659,218,496.45, up from CNY 2,613,038,580.54 in the first half of 2021[115]. Innovation and Development - The company has established a complete innovation system, focusing on major innovation projects and high-end innovations, including the establishment of the China Jushi Fiberglass Research Institute[28]. - The company’s R&D expenses increased by 22.73% to CNY 295.24 million, reflecting a commitment to innovation and technology advancement[31]. - The company has initiated a strategy to enhance its technological capabilities through research and development investments[122]. Environmental Compliance - The company has maintained compliance with environmental standards, with all reported emissions within regulatory limits[53]. - The company reported a total of 3.3246 tons of COD in domestic sewage, which is below the standard limit of ≤500 mg/l, with a comparison of 9.499 tons in the previous period[54]. - The company has implemented a wastewater pre-treatment system that allows for significant water reuse, reducing overall wastewater generation and pollutant discharge concentrations[56]. - The company is committed to achieving carbon peak and carbon neutrality goals, focusing on green development and innovation-driven strategies[61]. Corporate Governance and Compliance - There were no significant risks or violations of decision-making procedures reported during the period[6]. - The company has not reported any significant litigation or arbitration matters during the reporting period[71]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[70]. - The company has made commitments to resolve industry competition issues with its controlling shareholders, effective from January 5, 2021, for a period of two years[67]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 140,134[78]. - The largest shareholder, China National Building Material Group Corporation, held 1,079,739,151 shares, accounting for 26.97% of total shares[80]. - The company did not experience any changes in share capital structure during the reporting period[78]. Future Outlook - The management provided guidance indicating a cautious outlook for the next quarter, anticipating continued challenges in the market[122]. - The company plans to focus on market expansion and new product development in the upcoming quarters[122].