HENGFENG PAPER(SH:600356)2021-08-20 16:00Financial Performance - The company's operating revenue for the first half of 2021 reached ¥1,007,006,197.70, representing a 9.02% increase compared to ¥923,676,474.93 in the same period last year[21]. - Net profit attributable to shareholders was ¥82,946,465.92, a 36.91% increase from ¥60,586,118.85 in the previous year[21]. - The net cash flow from operating activities was ¥128,774,693.97, showing a significant increase of 141.15% compared to ¥53,399,545.14 in the same period last year[21]. - Basic earnings per share for the first half of 2021 were ¥0.28, a 40.00% increase from ¥0.20 in the same period last year[22]. - The total profit for the first half of 2021 was ¥108,403,871.33, an increase of 10.0% from ¥97,556,076.42 in the same period of 2020[92]. - The total comprehensive income for the first half of 2021 was ¥88,625,387.19, up from ¥63,624,749.79 in the same period of 2020, indicating strong overall performance[93]. - The company reported a net profit of approximately 43.22 million for the current period, compared to a loss of 39.73 million in the previous period, indicating a turnaround in profitability[109]. - The total comprehensive income for the current period was approximately 88.63 million, reflecting a strong recovery from the previous period's losses[111]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,145,200,611.10, up 3.65% from ¥3,034,488,631.74 at the end of the previous year[21]. - The total current assets as of June 30, 2021, amount to RMB 1,612,159,747.03, an increase from RMB 1,475,826,448.27 at the end of 2020[83]. - The total liabilities increased to CNY 779,126,785.71 from CNY 717,308,919.54, reflecting a growth of about 8.63%[85]. - The total liabilities at the end of the reporting period were 830,292,052.9 RMB, showing a decrease from the previous balance[113]. - The total number of shares and capital structure of the company remained unchanged during the reporting period[73]. Cash Flow - Cash and cash equivalents at the end of the period reached ¥317,581,452.93, representing 10.1% of total assets, up 34.86% from the previous year[39]. - The cash inflow from operating activities for the first half of 2021 was CNY 994,695,828.18, an increase of 18.5% compared to CNY 839,303,599.77 in the first half of 2020[100]. - The net cash flow from operating activities was CNY 128,774,693.97, up from CNY 53,399,545.14 in the same period last year, representing a significant increase[100]. - The ending cash and cash equivalents balance was CNY 317,581,452.93, an increase from CNY 282,412,242.63 at the end of the first half of 2020[101]. Market and Sales - Domestic trade sales grew by 11.88%, while international trade sales increased by 2.19%[34]. - New product trade sales surged by 547.73%, indicating strong market demand for innovations[34]. - The company achieved a revenue of CNY 1.007 billion, representing a year-on-year growth of 9.02%[37]. - The company reported non-recurring gains of ¥8,219,841.00 from government subsidies related to normal business operations[23]. Research and Development - The company maintained R&D expenses at a stable level compared to the previous year, indicating a consistent investment in innovation[38]. - Research and development expenses remained stable at ¥34,183,879.53, slightly down from ¥34,300,060.02 in the previous year[91]. Environmental and Social Responsibility - The company is actively pursuing green manufacturing initiatives and has started the national certification process for green factories[35]. - The company is classified as a key pollutant discharge unit, with its main pollutants being wastewater, waste gas, and solid waste, all of which are treated to meet environmental standards before discharge[53]. - The company has implemented measures to strengthen environmental protection, including regular training and emergency drills for environmental incidents[57]. Corporate Governance - The company has committed to maintaining its independence and avoiding competition with its parent company through permanent commitments[62]. - Hengfeng Paper guarantees the independence of its management personnel, ensuring that key executives do not hold positions in other companies controlled by Hengfeng Group[64]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[59]. Shareholder Information - The total number of common shareholders as of the end of the reporting period is 16,540[74]. - The largest shareholder, Mudanjiang Hengfeng Paper Group Co., Ltd., holds 89,423,083 shares, accounting for 29.93% of the total shares[75]. - The second largest shareholder, Heilongjiang Investment Holding Co., Ltd., holds 9,240,000 shares, representing 3.09% of the total shares[75]. Accounting Policies - The financial statements are prepared based on the principle of continuous operation[123]. - The company adheres to the relevant enterprise accounting standards, ensuring the financial statements reflect its financial position accurately[123]. - The company recognizes financial assets when it becomes a party to the financial instrument contract, measuring them initially at fair value[137]. Credit and Risk Management - The company assesses credit risk on each reporting date, determining if there has been a significant increase in credit risk since initial recognition[141]. - The company reported a bad debt provision of CNY 21,942,587.88, which is 4.88% of the total accounts receivable[193]. - The company did not report any actual write-offs of accounts receivable during the period[196].