ANGEL YEAST(SH:600298)2021-07-22 16:00Financial Performance - The company's operating revenue for the first half of 2021 reached CNY 5,233,898,313.88, representing a 20.55% increase compared to CNY 4,341,632,692.53 in the same period last year[14]. - Net profit attributable to shareholders of the listed company was CNY 827,820,623.63, up 15.14% from CNY 718,955,659.23 year-on-year[14]. - The net profit after deducting non-recurring gains and losses was CNY 725,765,563.75, reflecting an 8.49% increase from CNY 668,977,984.22 in the previous year[14]. - The basic earnings per share for the first half of 2021 was CNY 0.9939, a 13.93% increase from CNY 0.8724 in the same period last year[16]. - The weighted average return on net assets was 13.28%, a decrease of 0.33 percentage points compared to 13.61% in the previous year[16]. - The total assets of the company at the end of the reporting period were CNY 12,009,242,569.36, compared to CNY 10,807,179,510.18 at the end of the previous year[15]. - The net cash flow from operating activities was negative CNY 199,701,296.34, a significant decrease from CNY 820,876,463.12 in the same period last year, representing a decline of 124.33%[14]. - The company reported a significant increase in operating costs, with a rise of 38.21% in operating costs to 3.57 billion yuan[29]. - The company achieved operating revenue of 5.23 billion yuan, a year-on-year increase of 20.55%[29]. Assets and Liabilities - The company's net assets attributable to shareholders reached CNY 6,529,787,203.03[15]. - The total current assets increased to approximately RMB 5.08 billion, up from RMB 4.45 billion, marking a growth of around 14%[93]. - Long-term receivables increased to approximately RMB 453.09 million, up from RMB 235.87 million, which is an increase of about 92%[93]. - Total liabilities increased to CNY 5,168,448,416.99, a growth of 11.88% from CNY 4,619,277,732.74[95]. - Current liabilities amounted to CNY 3,738,933,211.06, reflecting a rise of 19.63% compared to CNY 3,125,048,633.61[94]. - The company’s total liabilities decreased to CNY 6,187,901,777.44 from CNY 6,187,901,777.44 in the previous year[110]. Cash Flow - Cash flow from operating activities showed a net outflow of 199.7 million yuan, a decline of 124.33% compared to the previous year[29]. - The total cash inflow from operating activities was CNY 5,320,005,234.68, compared to CNY 4,668,919,897.03 in the previous year, indicating a growth of 13.9%[105]. - The net cash flow from financing activities was CNY 405,392,031.94, a turnaround from a negative cash flow of CNY -289,082,028.46 in the previous year[107]. - The company reported a total cash balance of approximately ¥741.53 million at the end of the period, down from ¥1,107.10 million at the beginning of the period, with foreign currency deposits totaling ¥96.95 million[187]. Production and Operations - The company has a total yeast production capacity exceeding 270,000 tons, ranking first in Asia and third globally[21]. - The company operates 12 factories located in regions including Yichang, Guangxi, and Egypt, expanding its production capabilities[21]. - The total fermentation volume of yeast products increased by 12% year-on-year, indicating strong production performance[29]. - The company utilizes an advanced SAP ERP system for production management, balancing inventory based on historical sales data and market conditions[21]. Market and Sales - The company has established a global marketing network with 13 domestic sales organizations and 6 overseas divisions, selling products in 155 countries[21]. - The company's yeast products have a global market share of 15% and a domestic market share exceeding 55%[25]. - The sales strategy combines distributor agency, direct supply to major clients, and internet marketing, enhancing market reach[22]. Research and Development - The company submitted 21 invention patents during the reporting period, with 12 patents granted[25]. - Research and development expenses for the first half of 2021 were ¥215,939,209.65, up from ¥169,655,748.30, marking a 27.3% increase[99]. - The company reported a significant increase in investment income, amounting to CNY 246,585,899.41, compared to CNY 47,400,000.00 in the previous year, marking a rise of 419.5%[102]. Environmental Compliance - The company has 17 pollution discharge outlets, all of which are compliant with environmental standards[54]. - The chemical oxygen demand (COD) levels for various discharge outlets are within regulatory limits, with the highest concentration recorded at 74 mg/L, below the limit of 150 mg/L[54]. - The company has successfully implemented anaerobic ammonia oxidation technology in four factories, enhancing wastewater treatment efficiency[57]. Corporate Governance - The first extraordinary general meeting of shareholders was held on March 10, 2021, with 99 shareholders present, representing 469,129,884 shares, accounting for 56.93% of the total shares[45]. - The company did not distribute dividends or increase capital reserves in the profit distribution plan[48]. - The company has received approval for the 2020 restricted stock incentive plan from the State-owned Assets Supervision and Administration Commission of Hubei Province[49]. Social Responsibility - The company provided 1.18 million RMB in慰问金 to support poverty alleviation efforts during the reporting period[67]. - A total of 101,200 RMB worth of agricultural products were purchased from the partnered village to aid local farmers[67]. - The company allocated 50,000 RMB to the partnered village for research and learning expenses to promote rural revitalization[67].