FSSS(600399)2021-08-19 16:00Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥3.77 billion, representing a 21.29% increase compared to ¥3.11 billion in the same period last year[23]. - The net profit attributable to shareholders of the listed company reached approximately ¥431.20 million, a significant increase of 135.21% from ¥183.32 million in the previous year[23]. - The net profit after deducting non-recurring gains and losses was approximately ¥407.80 million, up 170.24% from ¥150.90 million in the same period last year[23]. - Basic earnings per share for the first half of 2021 were ¥0.2186, a 135.05% increase compared to ¥0.0930 in the same period last year[23]. - The weighted average return on net assets increased to 8.22%, up 4.28 percentage points from 3.94% in the previous year[23]. - The company reported a total operating revenue for the first half of 2021 of ¥3,768,852,075.16, an increase of 21.3% compared to ¥3,107,250,663.34 in the same period of 2020[142]. - Net profit for the first half of 2021 was ¥431,198,989.95, compared to ¥183,323,021.33 in the first half of 2020, representing an increase of 135.5%[146]. - The total comprehensive income for the first half of 2021 was approximately ¥430.22 million, compared to ¥186.19 million in the same period of 2020, marking an increase of 130.6%[151]. Assets and Liabilities - The company's total assets as of the end of the reporting period were approximately ¥9.81 billion, an increase of 6.37% from ¥9.22 billion at the end of the previous year[23]. - Total assets increased to ¥9,968,269,497.94 in the first half of 2021, up from ¥9,388,998,303.58 at the end of 2020[139]. - Total liabilities amounted to CNY 4,349,492,340.98, compared to CNY 4,193,189,120.94 at the end of 2020, indicating a rise of approximately 3.7%[133]. - Total liabilities rose to ¥4,455,792,551.38 in the first half of 2021, compared to ¥4,306,739,485.25 in the same period of 2020[139]. - Shareholders' equity reached CNY 5,461,544,246.44, an increase from CNY 5,030,345,256.49 at the end of 2020, marking a growth of about 8.6%[133]. - The total equity attributable to shareholders was ¥5,030,345,256.49, reflecting an increase due to comprehensive income of ¥431,198,989.95 during the period[162]. Cash Flow - The company reported a net cash flow from operating activities of approximately -¥148.35 million, compared to -¥59.83 million in the same period last year, indicating a decline in cash flow[23]. - The cash flow from operating activities showed a net outflow of approximately ¥148.35 million, compared to a net outflow of ¥59.83 million in the first half of 2020[155]. - The net increase in cash and cash equivalents was -¥397,833,157.58, compared to -¥59,112,198.59 in the prior period[159]. - The ending balance of cash and cash equivalents stood at ¥340,571,839.81, significantly up from ¥76,133,639.35 at the end of the previous period[159]. Research and Development - Research and development expenses totaled 139 million RMB, focusing on high-end alloys and special steel materials[33]. - The company received 5 national research project approvals during the reporting period, with 44 ongoing projects[33]. - Research and development expenses for the first half of 2021 were ¥138,983,187.96, a decrease from ¥159,577,969.25 in the first half of 2020[142]. Legal and Compliance - There are ongoing legal risks related to past information disclosure violations, with a total compensation amounting to approximately ¥43.91 million already adjudicated[8]. - The company reported a litigation amount of ¥365,012.93 related to a contract dispute with Shaanxi Jinjun Special Steel Manufacturing Co., Ltd.[86]. - The company is involved in two lawsuits with Liaoning Sanhe New Material Group Co., Ltd., with a total claim amount of ¥1,955,254.73 for payment and interest.[86]. - The company is currently facing a lawsuit from Jilin Bank Dalian Branch, with a claim amount of ¥409,979,743.38 regarding bankruptcy debt confirmation.[89]. Environmental and Social Responsibility - The company is committed to meeting environmental standards, with all wastewater and emissions monitored and compliant with relevant regulations[62]. - The company has established comprehensive environmental emergency response plans and conducts regular drills to ensure preparedness[65]. - A total of 573,500 RMB has been invested in rural economic development and poverty alleviation efforts, contributing to rural revitalization[71]. - The company has strengthened its environmental management measures and increased investment in environmental protection[69]. Strategic Initiatives - The company is adjusting its product structure and enhancing technological innovation to mitigate economic environment risks[51]. - The company is constructing key production and technology transformation projects to enhance capacity and solidify its industry position, with an expected capacity increase of 40,000 tons from two major projects[53]. - The company has implemented energy-saving and environmental protection technology transformation projects, with various systems expected to be operational by the end of 2021 and into 2022[53]. Related Party Transactions - The company reported a total of 229,812,128.45 RMB in related party transactions, with significant transactions including 39,280,488.27 RMB in sales of steel products to its controlling shareholder[104]. - The company’s related party transactions accounted for 12.32% of the total related transactions, primarily involving labor services[103]. - The company has established stable strategic cooperation with its controlling shareholder, which helps reduce operational costs and expand product range[104].