CMC(SH:600327)2021-08-26 16:00Financial Performance - The company achieved a net profit of ¥153,070,497.82 for the first half of 2021, with the net profit attributable to shareholders of the listed company being ¥151,591,658.73[4]. - Basic earnings per share increased by 27.61% to ¥0.171 compared to the same period last year[20]. - The weighted average return on net assets rose to 4.15%, an increase of 0.73 percentage points from the previous year[20]. - The company reported a net profit available for distribution to shareholders of ¥582,831,891.77 based on the parent company financial statements[4]. - The net profit attributable to the parent company was ¥62,569,741.82 for the first half of 2021[4]. - Net profit attributable to shareholders reached RMB 151.59 million, up 27.56% compared to the same period last year[6]. - The company achieved operating revenue of RMB 4.25 billion in the first half of 2021, representing a year-on-year increase of 27.83%[6]. - The company’s total equity decreased to ¥2,669,804,941.25 as of June 30, 2021, down from ¥2,808,146,838.53 at the end of 2020, representing a decline of 4.9%[78]. - The company reported a net loss of 221,194,879.50 RMB during the current period, which is a significant increase from the loss of 159,260,313.24 RMB in the previous year[99]. Dividend Distribution - The proposed cash dividend distribution is ¥2.50 per 10 shares, totaling ¥221,194,879.50 based on the total share capital of 884,779,518 shares as of June 30, 2021[4]. - The company plans to submit the profit distribution proposal to the second extraordinary general meeting of shareholders in 2021 for approval[5]. - The company plans to distribute a cash dividend of 2.50 CNY per 10 shares for the first half of 2021[49]. - The company distributed dividends totaling ¥241,610,034.54 in the first half of 2021, compared to ¥179,462,862.25 in the same period of 2020, reflecting a growth of approximately 34.6%[89]. Revenue and Operating Activities - The net cash flow from operating activities was RMB 360.63 million, a significant increase of 228.22% year-on-year[6]. - The retail business segment generated revenue of RMB 3.79 billion, a growth of 38.23% year-on-year, with a gross profit of RMB 169.67 million, up 44.38%[27]. - The automotive sales and service segment reported revenue of RMB 3.60 billion, a year-on-year increase of 27.15%, with a gross profit of RMB 272 million, up 15.14%[29]. - The company achieved operating revenue of 4.25 billion RMB, a year-on-year increase of 27.83%[34]. - The total operating revenue for the first half of 2021 reached ¥4,248,596,040.33, an increase of 27.8% compared to ¥3,323,535,586.67 in the same period of 2020[81]. Assets and Liabilities - The company’s total assets increased by 14.02% year-on-year, reaching RMB 8.09 billion at the end of the reporting period[6]. - The company reported a decrease in long-term equity investments by 15.71 million RMB, mainly due to the impact of equity accounting for associated companies[40]. - Total liabilities reached ¥4,534,280,227.80, up from ¥3,495,876,135.98, marking an increase of 29.7%[74]. - Current assets totaled ¥4,682,125,446.20, an increase of 26.1% from ¥3,711,258,414.62 at the end of 2020[72]. - Short-term borrowings rose by 50.15% to 1.35 billion RMB, primarily to supplement working capital[39]. Strategic Initiatives - The company initiated a strategic plan to gradually cultivate the medical health business as a new core area, establishing a platform for business expansion in this sector[30]. - The company plans to enhance its online sales channels and explore new marketing strategies, including live streaming sales[26]. - The company is in the process of selling 51% equity stakes in its subsidiaries "Dongfang Automobile" and "New Era Automobile" to its controlling shareholder[58]. Shareholder Information - Total number of ordinary shareholders at the end of the reporting period was 34,333[64]. - The largest shareholder, Jiangsu Wuxi Commercial Building Group Co., Ltd., held 395,552,372 shares, representing 44.71% of total shares[66]. - The second largest shareholder, China Merchants Bank Co., Ltd. - SSE Dividend ETF, increased its holdings by 1,718,542 shares to 38,408,794 shares, accounting for 4.34%[66]. Risk and Compliance - The report includes a risk statement regarding future plans and development strategies, highlighting uncertainties[6]. - The company has not faced any non-operating fund occupation by controlling shareholders or related parties[7]. - There were no violations of decision-making procedures regarding external guarantees[7]. Financial Management and Accounting - The company adheres to the enterprise accounting standards, ensuring that its financial reports accurately reflect its financial status and operational results[113]. - The company prepares consolidated financial statements based on its own and subsidiaries' financial reports, reflecting the overall financial status, operating results, and cash flows of the entire corporate group[120]. - The company recognizes investment income based on the fair value of equity held before the acquisition date when control over the investee is obtained[122]. Inventory and Asset Management - The company's inventory includes finished goods, raw materials, and real estate development products, with classifications for completed, under-construction, and planned development products[146]. - Inventory valuation is based on cost, including procurement and processing costs, with a weighted average method used for inventory issuance[146]. - The net realizable value of inventory is determined based on estimated selling prices minus estimated costs and taxes, with impairment provisions calculated at the end of the period[147]. Employee Benefits and Compensation - Short-term employee compensation is recognized as a liability and included in current period expenses[178]. - Defined benefit plans are measured using the projected unit credit method, with obligations discounted using market yields on high-quality corporate bonds[179]. - Termination benefits are recognized when the company cannot withdraw the offer of benefits, with related costs included in current period expenses[182].