JSAC(SH:600389)2021-08-16 16:00Financial Performance - The company's operating revenue for the first half of 2021 reached ¥3,153,389,979.78, representing a 16.33% increase compared to ¥2,710,670,937.40 in the same period last year[20] - Net profit attributable to shareholders for the first half of 2021 was ¥306,973,561.21, a 45.15% increase from ¥211,492,305.67 in the previous year[20] - The net profit after deducting non-recurring gains and losses was ¥298,403,487.42, up 40.22% from ¥212,811,670.18 year-on-year[20] - Basic earnings per share for the first half of 2021 were ¥1.0336, a 45.15% increase from ¥0.7121 in the same period last year[20] - The gross profit margin increased from 18.05% to 19.73%, with pesticide products contributing a gross profit of CNY 422 million, up 44% year-on-year[37] - The total operating revenue for the first half of 2021 was RMB 3,153,389,979.78, an increase from RMB 2,710,670,937.40 in the same period of 2020, representing a growth of approximately 16.3%[163] - The net profit for the first half of 2021 was RMB 321,179,799.68, up from RMB 221,552,910.24 in the same period of 2020, reflecting a growth of approximately 45%[166] Cash Flow and Assets - The net cash flow from operating activities decreased by 36.94% to ¥161,673,566.99 from ¥256,388,776.34 in the same period last year[20] - The company's cash and cash equivalents decreased by 39.65% from the previous year, totaling ¥511,679,127.37, which accounts for 11.36% of total assets[47] - The company's total assets as of the end of the reporting period were ¥4,502,454,006.08, a decrease of 2.03% from ¥4,595,614,577.48 at the end of the previous year[20] - The company's cash and cash equivalents were reported at 511,679,127.37 RMB, down from 847,842,335.27 RMB at the end of 2020[151] - The total current assets as of June 30, 2021, amounted to 2,304,831,520.15 RMB, a decrease from 2,459,341,987.82 RMB at the end of 2020[151] Investments and R&D - The company has undertaken over 10 national science and technology projects, demonstrating its strong research and development capabilities[32] - The company has initiated 17 new R&D projects and is continuing research on three new flame retardant products, with 20 new formulation studies for high-end formulations initiated at the beginning of the year[42] - Research and development expenses for the first half of 2021 were RMB 87,093,399.54, down from RMB 103,601,859.31 in the same period of 2020, indicating a decrease of about 16%[165] Market and Industry Position - The global agricultural chemical market is in an upward cycle, driven by increased demand and rising commodity prices[27] - The company has been recognized as a national high-tech enterprise and a pilot innovative enterprise in Jiangsu Province[32] - The company actively promotes safety management and is one of the first 12 pesticide production enterprises recognized for HSE management in China[33] Environmental and Safety Management - The company has implemented 17 out of 33 environmental improvement measures aimed at reducing VOC emissions and enhancing waste management systems[79] - The company continues to meet environmental standards, with all pollution control facilities operating stably and no exceedances reported[80] - The average concentration of COD in wastewater discharge was 24 mg/L, well below the limit of 500 mg/L, with no exceedances reported[84] Shareholder and Corporate Governance - The company committed to resolving competition issues with its controlling shareholder by integrating its subsidiary's operations within 12 months, as per regulatory requirements[96] - The company has established strict guidelines to regulate related party transactions, ensuring compliance with legal and regulatory standards[105] - The company has committed to maintaining the independence of its operational decisions and protecting the interests of minority shareholders[102] Financial Stability and Liabilities - The company's short-term borrowings decreased by 43.13% to ¥300,500,000.00, representing 6.67% of total liabilities[47] - The company's long-term borrowings increased by 253.91% to ¥302,463,296.70, accounting for 6.72% of total liabilities[47] - The total liabilities decreased to RMB 2,278,096,648.16 from RMB 2,397,902,938.72, showing a reduction of about 5%[163] Future Plans and Strategies - The company plans to optimize product structure and expand product lines to enhance profitability amid market competition and price decline risks[61] - The company plans to continue focusing on market expansion and new product development to drive future growth[162]