HAC(SH:600202)2021-08-16 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥450,692,543.41, a decrease of 1.00% compared to ¥455,254,339.87 in the same period last year[18]. - The net profit attributable to shareholders of the listed company reached ¥64,452,150.11, representing a significant increase of 160.97% from ¥24,697,059.93 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥48,577,318.71, a decrease of 305.33% compared to ¥23,658,400.57 in the same period last year[18]. - The net cash flow from operating activities was -¥126,989,481.54, slightly worse than -¥119,205,506.64 in the previous year, reflecting a decline of 6.53%[18]. - The basic earnings per share rose to 0.1681 yuan, reflecting a 161.02% increase from 0.0644 yuan in the previous year[19]. - The total revenue for the reporting period was 450.69 million yuan, a slight decrease of 1.00% year-on-year[29]. - The company achieved a net profit of 6,438.09 million yuan, a significant increase of 159.66% compared to the same period last year, which was 2,482.13 million yuan[29]. - The company reported a net profit for the period of RMB 64,380,900, an increase from RMB 24,821,300 in the same period last year, reflecting a significant improvement in profitability[32]. Assets and Liabilities - Total assets decreased by 4.40% to ¥2,180,983,487.27 from ¥2,281,480,746.83 at the end of the previous year[18]. - The net assets attributable to shareholders at the end of the reporting period were ¥771,535,193.42, an increase of 9.41% from ¥705,179,563.69 at the end of the previous year[18]. - Total current assets as of June 30, 2021, amounted to ¥1,641,038,617.90, a decrease of 3.25% from ¥1,696,401,332.89 on December 31, 2020[85]. - Total liabilities decreased to ¥1,407,979,037.01, a reduction of 10.67% from ¥1,576,009,650.66 at the end of 2020[87]. - The company’s accounts receivable increased by 12.11% to RMB 767,178,766.25, indicating a rise in sales on credit[35]. - Cash and cash equivalents were reported at ¥209,374,305.99, a decline of 35.67% from ¥325,113,994.23 at the end of 2020[85]. Operational Efficiency - Operating costs increased by 18.91% to RMB 432,950,189.82 from RMB 364,085,517.81, primarily due to intensified market competition and rising raw material prices[31]. - The company reported a decrease in gross profit margin due to increased raw material prices and rising operational costs, including R&D and employee compensation[20]. - Research and development expenses rose by 56.34% to RMB 18,207,816.70, indicating a strong commitment to innovation[31]. - The company continues to invest in technology and automation to enhance production efficiency and cost control, laying the groundwork for future smart manufacturing[28]. Market Position and Risks - The company maintains a strong customer base, including major clients like Sinopec and PetroChina, which supports its market position[28]. - The company faces significant market risks due to a decline in domestic power station product demand, with a focus on increasing R&D and expanding international business to mitigate these risks[46]. - The company has a high level of accounts receivable and inventory, which poses refinancing risks; measures include establishing a financial warning mechanism and optimizing financing structure[46]. - The company is exposed to exchange rate risks related to foreign currency assets and liabilities from large air cooler export contracts, with plans to use trade financing tools to mitigate these risks[47]. Corporate Governance and Management - The company has not reported any significant risk events during the reporting period, indicating a stable operational environment[6]. - The company has not made any profit distribution or capital reserve transfer plans during this reporting period, indicating a focus on reinvestment[4]. - The management has provided a risk statement regarding forward-looking statements, cautioning investors about potential investment risks[5]. - The company appointed a new deputy general manager on June 2, 2021, to enhance its management team[53]. Environmental and Social Responsibility - The company has not faced any environmental penalties during the reporting period and has maintained a zero-incident goal for major environmental pollution accidents[57]. - The company continues to adhere to ISO14001 standards for environmental management, integrating it into its strategic planning[57]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders is 30,348[75]. - The largest shareholder, Harbin Industrial Investment Group Co., Ltd., holds 34.03% of the shares, totaling 130,449,385 shares[77]. - The company has not reported any changes in its share capital structure during the reporting period[74]. Future Plans - The company plans to continue expanding its market presence and product offerings in the upcoming periods[112]. - The company aims to enhance its research and development efforts to drive future growth[116].