NNCI(SH:600301)2021-08-25 16:00Financial Performance - The company's operating revenue for the first half of 2021 was RMB 473,950,052.11, representing a 36.40% increase compared to RMB 347,480,516.76 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was RMB 1,255,773.52, a decrease of 72.71% from RMB 4,601,698.60 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 1,070,102.28, down 76.43% from RMB 4,540,921.50 in the same period last year[22]. - The net cash flow from operating activities was negative at RMB -140,742,145.08, compared to RMB -15,239,680.29 in the previous year[22]. - Basic earnings per share for the first half of 2021 were RMB 0.0053, down 72.96% from RMB 0.0196 in the same period last year[22]. - The weighted average return on net assets was 0.38%, a decrease of 1.03 percentage points from 1.41% in the previous year[22]. - The company achieved operating revenue of CNY 473,950,052.11, an increase of 36.40% compared to the previous year[32]. - The net profit attributable to shareholders decreased to CNY 1,255,800, a decline of 72.71% year-on-year[32]. - The net cash flow from operating activities was CNY -140,742,145.08, worsening from CNY -15,239,680.29 in the same period last year[35]. - Total assets increased to CNY 43,129,170, a growth of 15.78% year-on-year[32]. - Total liabilities rose to CNY 9,800,840, an increase of 142.11% compared to the previous year[32]. - The company reported a significant increase in the cost of goods sold, which rose by 37.13% year-on-year[35]. - The company reported a comprehensive income of ¥1,255,773.52 for the first half of the year[102]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 431,291,686.08, an increase of 15.78% from RMB 372,507,869.97 at the end of the previous year[22]. - The net assets attributable to shareholders of the listed company were RMB 333,283,279.88, a slight increase of 0.38% from RMB 332,027,506.36 at the end of the previous year[22]. - Total liabilities rose to ¥98,008,406.20, up from ¥40,480,363.61, marking an increase of 142.5%[86]. - The company's asset-liability ratio stood at 22.72%[32]. - The total current assets as of June 30, 2021, amounted to RMB 426,600,398.71, an increase from RMB 367,866,773.72 at the end of 2020, representing a growth of approximately 15.8%[80]. - Accounts receivable amounted to ¥73,709,861.31, representing a 17.09% increase[38]. - The company has shown a significant increase in accounts payable, which rose to ¥49,791,766.44 from ¥12,061,120.10, reflecting a growth of 313.5%[86]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,202[69]. - The largest shareholder, Nanning Chemical Group Co., Ltd., holds 32.00% of the company's shares, totaling 75,248,058 shares[69]. - The top ten shareholders include Nanning Chemical Group Co., Ltd. with 75,248,058 shares, representing the largest stake[72]. - There were no strategic investors or general corporations becoming top ten shareholders due to new share placements[73]. - The company reported no changes in the shareholding of directors, supervisors, and senior management during the reporting period[73]. - The company has no plans for share buybacks or any related accounts among the top ten shareholders[72]. - There are no reported changes in the controlling shareholder or actual controller during the reporting period[76]. Business Operations - The company primarily operates in the chlor-alkali chemical industry, focusing on the wholesale of hazardous chemicals and related services[111]. - The company has shifted its business focus from outside Guangxi to within Guangxi, targeting medium to large enterprises for stable trade relationships[31]. - The company provided assistance worth ¥238,100 for poverty alleviation efforts in Guangxi province[47]. - The company engages in the import and export of raw materials and equipment necessary for its production processes[111]. Financial Management and Reporting - The financial report is prepared based on the going concern principle, ensuring that the company will continue its operations for the foreseeable future[115]. - The financial statements comply with the accounting standards set by the Ministry of Finance, reflecting the company's financial position as of June 30, 2021[119]. - The company has undergone capital increases through the conversion of convertible bonds and non-public offerings, resulting in a change in share capital[110]. - The company’s accounting period follows the calendar year, from January 1 to December 31[120]. - The company’s business cycle is defined as 12 months, aligning with its accounting period[121]. - The financial report indicates a significant focus on maintaining accurate financial records and compliance with relevant regulations[114]. Credit Risk and Financial Assets - Expected credit losses are calculated based on the weighted average of credit losses for financial instruments, considering past events, current conditions, and future economic forecasts[149]. - The company assesses expected credit losses for financial instruments in different stages, with stage one reflecting no significant increase in credit risk and stage three indicating credit impairment[151]. - For receivables, the company measures loss provisions equivalent to expected credit losses over the entire duration[152]. - The company categorizes receivables into groups based on credit risk characteristics to calculate expected credit losses[153]. - The company evaluates expected credit losses for debt investments based on the nature of the investment and the risk exposure[157]. - Financial liabilities are measured at amortized cost using the effective interest method, with gains or losses recognized in profit or loss upon derecognition or amortization[141]. - A financial asset is considered in default if the borrower is unlikely to fully pay the owed amount or if the asset is overdue by more than 90 days[160]. - The company remeasures expected credit losses at each balance sheet date, with changes recognized as impairment losses or gains in the current period[164]. Inventory Management - Inventory is valued at actual cost upon acquisition, and the weighted average method is used for inventory issued[186]. - The company recognizes inventory impairment when the cost exceeds its net realizable value at the balance sheet date[186]. - The company employs a perpetual inventory system for inventory management[186].