ANGEL YEAST(SH:600298)2022-08-10 16:00Financial Performance - The company's operating revenue for the first half of 2022 reached ¥6,090,362,514.97, representing a 16.36% increase compared to ¥5,233,898,313.88 in the same period last year[14]. - The net profit attributable to shareholders of the listed company was ¥667,800,676.33, a decrease of 19.33% from ¥827,820,623.63 in the previous year[14]. - Basic earnings per share decreased by 18.47% to ¥0.8104 from ¥0.9939 in the same period last year[17]. - The weighted average return on net assets decreased by 3.99 percentage points to 9.29% from 13.28% in the previous year[17]. - The company reported a non-recurring gain of ¥72,380,425.86 for the current period, after accounting for tax and minority interests[19]. - The company achieved a revenue of 6.09 billion CNY, representing a year-on-year growth of 16.36%[30]. - The net profit attributable to shareholders decreased by 19.33% to 668 million CNY, with basic earnings per share dropping by 18.47% to 0.8104 CNY[30]. - The company's comprehensive income totalled approximately ¥680.86 million for the first half of 2022, compared to ¥840.85 million in the first half of 2021, indicating a decrease of 19%[118]. Cash Flow and Investments - The net cash flow from operating activities was -¥262,611,082.27, worsening by 31.50% compared to -¥199,701,296.34 in the same period last year[14]. - The net cash flow from investment activities decreased by 76.70%, amounting to approximately ¥1.00 billion, primarily due to increased project payments[35]. - The net cash flow from financing activities surged by 369.23% to approximately ¥1.90 billion, mainly from funds raised through a private placement[35]. - The company reported a net cash inflow from operating activities of CNY 293,255,822.93, a decrease of 47.5% compared to CNY 559,316,789.78 in the same period last year[121]. - The company experienced a net cash outflow from investment activities of CNY 1,004,061,197.21, compared to a net outflow of CNY 568,222,376.93 in the prior year, indicating a significant increase in investment expenditures[120]. Assets and Liabilities - The total assets of the company increased by 20.02% to ¥16,137,683,759.07 from ¥13,445,647,466.86 at the end of the previous year[16]. - The total liabilities reached CNY 7,240,122,977.63, compared to CNY 6,244,622,116.15, showing an increase of about 16%[106]. - The company's total equity at the end of the reporting period was 6,840,794,152.37 RMB, reflecting an increase from the previous period[132]. - The capital reserve increased by 1,411,954,858.91 RMB during the first half of 2022, indicating strong financial health[133]. - The company’s total assets at the end of the reporting period were 6,187,901,777.44 RMB, reflecting growth in asset management[128]. Production and Capacity - The company has a total yeast production capacity of 350,000 tons across 16 factories located in various regions including Hubei, Guangxi, and Egypt[20]. - The production capacity utilization rate for yeast fermentation reached 102%, with a total output of 168,000 tons in the first half of the year[32]. - The company launched 108 new products in the first half of 2022, including 21 health food products and 6 new invention patents[32]. - The company plans to expand its production capacity with projects in Russia and Egypt, targeting annual production capacities of 8,000 tons and 20,000 tons of yeast products, respectively[51]. Market and Sales - The company operates a global marketing network with 13 domestic sales organizations and 6 overseas divisions, selling products in 163 countries[21]. - The company exports products to 163 countries and regions, with over 95% of overseas sales being self-owned brands[29]. - The international market is growing faster than the domestic market, with significant growth in microbial nutrition, plant protection, and yeast extract businesses[31]. - The company is actively expanding its international presence by registering overseas marketing subsidiaries and hiring local sales personnel[31]. Research and Development - The company has established 46 innovation platforms and has been awarded over 240 patents, demonstrating its commitment to technological innovation[27]. - Research and development expenses rose by 31.74% to approximately ¥284.47 million, driven by increased R&D efforts and personnel[35]. - The company focuses on research and development in biotechnology and health management services, indicating a commitment to innovation[142]. Environmental Compliance - The company has maintained compliance with environmental standards, with all monitored pollutants meeting regulatory limits[61]. - The total actual emissions for the first half of 2022 were significantly below the permitted limits, indicating effective pollution control measures[62]. - The company’s environmental protection measures have been recognized, with all wastewater discharge points meeting the required standards[61]. - The company has implemented a real-time monitoring system for wastewater and air emissions, ensuring compliance with regulatory standards[67]. Corporate Governance - The company has undergone changes in its board and management personnel, with new appointments and elections following the annual shareholder meeting[54]. - The new board of directors and management team were appointed on April 18, 2022, with a term lasting until April 18, 2025[55]. - The company has not implemented any employee stock ownership plans or other incentive measures in the first half of 2022[59]. Shareholder Information - The total number of common shareholders reached 67,051 by the end of the reporting period[96]. - The largest shareholder, Hubei Angel Biotechnology Group Co., Ltd., held 330,482,045 shares, accounting for 38.02% of total shares[97]. - The company completed a non-public offering of 36,651,936 shares, increasing the total shares from 832,692,943 to 869,344,879[139]. Risk Management - The company faces increased market competition in the yeast industry, with a focus on strengthening market control and adjusting sales strategies to mitigate risks[48]. - The company is experiencing rising raw material costs, particularly for molasses, which has led to a significant increase in production costs[48]. - The company is enhancing its international trade and exchange rate policy research to mitigate foreign exchange risks related to export activities[48].