XTAD(SH:600359)2021-09-10 16:00Financial Performance - The company's operating revenue for the first half of 2021 was approximately RMB 292 million, representing a 44.13% increase compared to the same period last year[19]. - Net profit attributable to shareholders reached approximately RMB 38 million, a significant increase of 306.19% year-on-year[19]. - Basic earnings per share increased to RMB 0.10, up 400% from RMB 0.02 in the same period last year[19]. - The weighted average return on equity rose to 7.73%, an increase of 5.57 percentage points compared to the previous year[19]. - The net cash flow from operating activities was approximately RMB 47 million, reflecting a 71.08% increase year-on-year[19]. - Revenue for the reporting period was CNY 292.02 million, a 44.13% increase compared to the previous year, primarily driven by increased sales from the seed processing and sales business[30]. - The company reported a significant decrease in inventory by 22.37% to CNY 295.69 million, mainly due to reduced raw material levels in the seed business[32]. - Operating profit for the first half of 2021 was CNY 40,833,665.53, significantly higher than CNY 12,170,732.55 in the first half of 2020[74]. - The company's total revenue for the first half of 2021 was CNY 158,447.41 million, a significant increase from CNY 22,648.92 million in the same period of 2020, representing a growth of approximately 600%[77]. - The net profit for the first half of 2021 reached CNY 41,714.31 million, compared to a net profit of CNY 12,094.68 million in the first half of 2020, indicating a year-over-year increase of about 245%[76]. Assets and Liabilities - The company's total assets decreased by 4.18% to approximately RMB 1.68 billion compared to the end of the previous year[19]. - The company's total liabilities decreased to CNY 1,174,970,212.87 from CNY 1,269,739,624.33, reflecting a reduction of approximately 7.4%[68]. - The total amount of guarantees provided by the company during the reporting period (excluding guarantees to subsidiaries) was CNY 250,375,000[50]. - The total guarantee amount, including guarantees to subsidiaries, reached CNY 457,375,000, which represents 90.81% of the company's net assets[50]. - The company's total assets reached CNY 1.678 billion, with net assets of CNY 504 million, and net profit attributable to the parent company was CNY 38.11 million, reflecting a strong operational performance[29]. Shareholder Information - The company did not propose any profit distribution or capital reserve transfer plans for the first half of 2021, with no dividends or bonus shares issued[38]. - The number of ordinary shareholders at the end of the reporting period was 61,356[56]. - The largest shareholder, Aral Tongzhong State-owned Assets Management Co., Ltd., held 153,815,575 shares, accounting for 40.32% of the total shares[58]. Risks and Compliance - The company has faced risks related to non-operating fund occupation by controlling shareholders and their affiliates[6]. - The total amount of non-operating funds occupied by controlling shareholders and other related parties during the reporting period was CNY 35,000,000, which accounts for 7.08% of the latest audited net assets[45]. - The company has established measures to prevent related party transactions that could harm its interests, ensuring compliance with market principles[44]. Research and Development - Research and development expenses rose by 44.51% to CNY 4.08 million, indicating a focus on new product development in the dairy segment[31]. - Research and development expenses for the first half of 2021 were CNY 4,079,966.33, up 44.6% from CNY 2,823,222.81 in the same period last year[74]. Cash Flow and Investments - Cash flow from operating activities for the first half of 2021 was CNY 200,305.79 million, slightly up from CNY 196,305.68 million in the first half of 2020[80]. - The net cash flow from operating activities for the first half of 2021 was CNY 47,116,157.19, an increase of 71.6% compared to CNY 27,540,633.36 in the same period of 2020[81]. - The company reported a significant investment income of CNY 21,771.20 million for the first half of 2021, compared to CNY 21,771.10 million in the same period of 2020[77]. Corporate Governance - The company held two shareholder meetings during the reporting period, both of which were conducted in a hybrid format combining in-person and online voting, with all proposed resolutions approved[36]. - There were changes in the board of supervisors, with Yang Juan resigning and Wang Jianfeng and Luo Wenmin appointed as new supervisors[38]. Strategic Focus - The company maintains a strong market position in the dairy industry, with significant growth potential due to low per capita dairy consumption in China[26]. - The company is implementing a "dual-driven" strategy to enhance its dairy source base and marketing network, aiming for sustainable growth[28]. - The company has committed to avoiding any direct or indirect competition with its controlling shareholder, ensuring that business opportunities are prioritized for the company[43]. Financial Reporting and Accounting Policies - The company’s financial statements are prepared in accordance with the enterprise accounting standards, ensuring a true and complete reflection of its financial status[103]. - The company classifies financial assets into categories based on their business model and contractual cash flow characteristics, including those measured at amortized cost and those measured at fair value with changes recognized in other comprehensive income[114]. - The company recognizes expected credit losses as impairment losses or gains in the current profit and loss statement[124].