JSAC(SH:600389)2023-08-17 16:00Financial Performance - Basic earnings per share for the first half of 2023 is 0.4423 yuan, a decrease of 84.29% compared to 2.8163 yuan in the same period last year[21]. - Diluted earnings per share for the first half of 2023 is 0.4423 yuan, reflecting an 84.29% decline from 2.8163 yuan year-on-year[21]. - The weighted average return on net assets decreased to 5.6499% from 41.0550%, a reduction of 35.4051 percentage points[21]. - The basic earnings per share after deducting non-recurring gains and losses is 0.4495 yuan, down 84.35% from 2.8715 yuan in the previous year[21]. - Operating revenue for the first half of 2023 was CNY 2,672,533,225.65, a decrease of 48.91% compared to CNY 5,230,646,703.88 in the same period last year[24]. - Net profit attributable to shareholders for the first half of 2023 was CNY 193,729,952.73, down 84.03% from CNY 1,212,849,030.43 year-on-year[24]. - The net cash flow from operating activities for the first half of 2023 was CNY 320,376,313.34, a decline of 70.15% compared to CNY 1,073,231,003.12 in the previous year[24]. - The company reported a significant decline in financial performance, indicating potential challenges in the market[21]. Shareholder Information - The company plans to distribute dividends of 0 per 10 shares, indicating no profit distribution for the half-year[61]. - The total number of shares increased from 305,367,100 to 443,483,370 after the profit distribution and stock issuance[101]. - The company distributed a cash dividend of 0.20 RMB per share, totaling 61,170,120 RMB, and issued 137,632,770 new shares[101]. - The total number of shareholders reached 25,214 by the end of the reporting period[103]. - The largest shareholder, Nantong Industrial Holdings Group Co., Ltd., holds 28.12% of the shares, totaling 124,728,141 shares[105]. Risk Management - The company has outlined various risks including safety, environmental, and market fluctuations in the report[7]. - The company is focusing on risk management to ensure stable strategic development amidst a complex external environment[37]. - The company faces risks related to safety, environmental regulations, market volatility, raw material price fluctuations, and exchange rate fluctuations[54]. Environmental Compliance - The company has maintained compliance with environmental regulations, achieving stable operation of all pollution control facilities[66]. - The company has been recognized as an "environmental demonstration enterprise" and has received an A-level performance evaluation in the key industry[67]. - The company aims to enhance its environmental governance capabilities by exploring leading technologies and promoting a circular economy[66]. - The company has conducted 14 emergency responses to air quality anomalies in the first half of 2023, receiving commendation from environmental authorities[67]. - The company’s total pollutant emissions have remained within the permitted limits, demonstrating effective environmental management[66]. Research and Development - The company has established extensive research and development platforms and collaborates with external institutions to enhance product technology and develop new products[27]. - Research and development expenses decreased by 57.34% to CNY 69 million, reflecting a strategic focus on cost management[39]. Financial Position - As of the end of the reporting period, the net assets attributable to shareholders were CNY 3,505,030,955.41, an increase of 5.91% from CNY 3,309,586,728.58 at the end of the previous year[24]. - Total assets decreased by 9.86% to CNY 5,871,176,059.12 from CNY 6,513,098,085.61 at the end of the previous year[24]. - The company's total liabilities decreased to CNY 2,254,995,071.46 in the first half of 2023 from CNY 2,836,019,223.47 in the same period of 2022, a reduction of 20.5%[124]. - The company's total equity increased from CNY 3,312,369,119.82 to CNY 3,540,005,557.60, reflecting an increase of approximately 6.9%[120]. Subsidiary Performance - The company reported a net profit of 3,175.75 million yuan from JIANGSHAN AGROCHEMICAL&CHEMICALS (SINGAPORE) PTE.LTD., primarily due to a reduction in credit impairment losses from receivables[50]. - The subsidiary 南通江山新能科技有限公司 achieved a net profit of 8,717.36 million yuan, while 南通南沈植保科技开发有限公司 reported a net loss of 502.97 million yuan[50]. - The company holds a 15.02% stake in 南通江天化学股份有限公司, which generated a net profit of 3,927.35 million yuan[53]. Accounting Policies - The company’s accounting policies are based on the actual production and operational characteristics, including revenue recognition and measurement, which align with the enterprise accounting standards[165]. - The group includes all controlled subsidiaries in the consolidated financial statements, adjusting for any inconsistencies in accounting policies or periods[171]. - The group recognizes financial assets based on the business model and cash flow characteristics, classifying them into categories such as amortized cost and fair value through other comprehensive income[177]. Cash Flow Management - Cash flow from investment activities showed a net outflow of CNY 206,120,880.20, compared to a net outflow of CNY 688,981,017.12 in the first half of 2022[132]. - Cash flow from financing activities generated a net inflow of CNY 139,917,331.28, down from CNY 291,910,147.00 in the previous year[132]. - The company received tax refunds amounting to CNY 81,952,952.81, an increase from CNY 68,784,915.40 in the same period last year[131].