CZDH(SH:600230)2021-08-04 16:00Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,203,512,183.02, representing a 106.37% increase compared to CNY 583,170,156.43 in the same period last year[19]. - The net profit attributable to shareholders was CNY 174,925,220.96, a significant recovery from a loss of CNY 164,686,203.51 in the previous year[19]. - The net cash flow from operating activities was CNY 225,380,492.07, compared to a negative cash flow of CNY -159,254,964.45 in the same period last year[19]. - The basic earnings per share for the first half of 2021 was CNY 0.4179, a recovery from a loss of CNY -0.3999 in the same period last year[20]. - The weighted average return on net assets increased by 9.54 percentage points to 4.78% compared to -4.76% in the previous year[20]. - The company's revenue for the first half of 2021 was approximately CNY 1.20 billion, a 106.37% increase compared to CNY 583.17 million in the same period last year[33]. - The company's net profit for the first half of 2021 was ¥162,906,794.58, a turnaround from a net loss of ¥172,468,378.19 in the same period of 2020[119]. - The total comprehensive income for the first half of 2021 was ¥187,651,221.51, a significant recovery from a total comprehensive loss of ¥156,686,830.70 in the first half of 2020[123]. Market and Sales Performance - The average price of TDI products increased from CNY 12,300 per ton at the beginning of 2021 to CNY 18,000 per ton, before declining to CNY 13,000 per ton by the end of June[25]. - The domestic TDI market experienced a prolonged decline from mid-March to June, influenced by supply exceeding demand[25]. - The company operates a dual sales model for TDI products, utilizing both direct sales to end-users and distribution through dealers[24]. - The company's liquid caustic soda (NaOH) product sales reached 193,700 tons in the first half of 2021, with a market share increase of 13% in the Beijing-Tianjin-Hebei and surrounding regions, achieving a market share of 68%[31]. - The operating costs increased by 36.20% to CNY 929.73 million, primarily due to higher TDI sales volume compared to the previous year[33]. - The company implemented a sales strategy focusing on high-profit regions and increased the proportion of bulk water sales, which contributed to maximizing profits[31]. Assets and Liabilities - The company's total assets increased by 8.08% to CNY 6,887,553,303.93 from CNY 6,372,663,011.19 at the end of the previous year[19]. - The company reported a total net assets of CNY 3,740,600,077.94, reflecting a 4.68% increase from CNY 3,573,386,052.07 at the end of the previous year[19]. - The company's long-term borrowings increased by 3.21% to ¥1.21 billion, reflecting ongoing financing activities[37]. - The company's total liabilities reached CNY 2,823,222,557.94 as of June 30, 2021, up from CNY 2,461,330,041.27 at the end of 2020, marking an increase of around 14.7%[112]. - The company's equity increased to CNY 4,064,330,745.99 as of June 30, 2021, compared to CNY 3,911,332,969.92 at the end of 2020, representing a growth of approximately 3.9%[112]. Environmental and Sustainability Efforts - The company plans to enhance its environmental protection measures in response to stricter regulations, indicating a commitment to sustainability[43]. - The company’s main wastewater pollutants include chemical oxygen demand and ammonia nitrogen, with a total of one wastewater discharge outlet[52]. - In the first half of 2021, the company’s emissions of nitrogen oxides and other pollutants were within the national standards[53]. - The company has established an online monitoring system for real-time tracking of pollutants, ensuring compliance with discharge standards[62]. - The company implemented a project to reduce carbon emissions, expecting to decrease CO2 emissions by 9,954 tons for the entire year[66]. - The company has committed to environmental protection and adheres to national environmental laws and standards[63]. Research and Development - Research and development expenses rose by 31.93% to CNY 11.43 million, reflecting the company's commitment to enhancing its product offerings[34]. - Research and development expenses for the first half of 2021 totaled ¥11,434,492.92, an increase from ¥8,667,311.66 in the same period of 2020, reflecting a growth of approximately 32.3%[118]. Related Party Transactions - The total planned amount for related party transactions in 2021 is CNY 28.62 million, with actual transactions from January to June amounting to CNY 10.50 million, which is within the expected amount[81]. - The company has committed to reducing related party transactions with Cangzhou Dahua and ensuring they are conducted at fair market prices[71]. - The planned total amount for related party procurement in 2021 is CNY 0.4 million, with actual procurement amounting to CNY 0.3 million[81]. - The planned total amount for related party sales in 2021 is CNY 16.29 million, with actual sales amounting to CNY 6.34 million[81]. Shareholder Information - The controlling shareholder, Cangzhou Dahua Group, holds 190,467,424 shares, representing 45.50% of the total shares, a decrease of 0.75%[90]. - The total number of ordinary shareholders as of the end of the reporting period is 36,104[95]. - The company has a total of 154 incentive recipients for the restricted stock grants, including directors and key employees[90]. - The first unlock period for the granted restricted stock is set at 24 months, with 33% unlocking at the end of the second year and another 33% at the end of the third year[94]. Financial Reporting and Compliance - The financial statements are prepared based on the assumption of continuous operation, in compliance with the accounting standards for enterprises[148]. - The company’s accounting policies and estimates comply with the requirements of enterprise accounting standards[148]. - The company evaluates the fair value of identifiable net assets acquired in business combinations under common control and non-common control[156]. - The company has not changed its scope of consolidation compared to the previous year[145].