扬农化工(600486) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 6,682,409,801.50, representing a 12.94% increase compared to CNY 5,916,945,566.56 in the same period last year[15]. - The net profit attributable to shareholders of the listed company was CNY 791,435,428.20, a decrease of 4.28% from CNY 826,802,480.62 in the previous year[15]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 769,669,465.05, down 5.75% from CNY 816,610,072.55 year-on-year[15]. - The net cash flow from operating activities increased by 44.33% to CNY 923,231,900.76, compared to CNY 639,680,451.85 in the same period last year[15]. - Basic earnings per share for the reporting period decreased by 4.28% to 2.554 CNY compared to the same period last year[16]. - The company achieved a weighted average return on equity of 12.64%, down from 15.41% in the same period last year, a decrease of 2.77 percentage points[16]. - The company's total comprehensive income for the first half of 2021 was CNY 806,360,837.59, which includes a net profit of CNY 791,435,428.20[116]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 12,277,667,292.44, reflecting a 12.69% increase from CNY 10,895,023,679.85 at the end of the previous year[15]. - The net assets attributable to shareholders at the end of the reporting period were CNY 6,520,832,467.67, up 9.64% from CNY 5,947,576,470.82 at the end of the previous year[15]. - The company's total liabilities reached CNY 5,751,642,034.99, up from CNY 4,943,384,203.78, indicating an increase of about 16.3%[100]. - Current assets totaled CNY 7,715,694,316.77, compared to CNY 6,377,672,840.59, reflecting a rise of approximately 21%[99]. - The accounts receivable increased to CNY 2,257,971,458.13 from CNY 1,333,285,866.52, marking a significant growth of about 69%[98]. - The inventory decreased to CNY 1,302,970,689.75 from CNY 1,631,624,095.44, showing a decline of approximately 20%[99]. Research and Development - Research and development expenses increased by 16.61% to CNY 174,457,670.99, compared to CNY 149,603,221.08 in the previous year, reflecting a commitment to innovation[28]. - The company is focusing on innovation and has participated in 20 national-level scientific projects, aiming to enhance its product offerings and market competitiveness[21]. - The company has developed 12 new pesticide varieties and holds over 600 domestic and international patent authorizations[22]. Environmental and Safety Measures - The company is committed to enhancing safety and environmental protection measures in its production processes[41]. - Youshi Company reported a total emission of 0.5471 tons of sulfur dioxide and 2.2357 tons of nitrogen oxides from the Dalian Road plant, with a total allowable emission of 6.168 tons for sulfur dioxide and 16.84 tons for nitrogen oxides[49]. - The environmental monitoring plan for 2021 was approved by local environmental protection departments, ensuring compliance with monitoring standards[54]. - The company has established an emergency response plan for environmental incidents, which has been filed with local environmental protection authorities[56]. Shareholder and Equity Information - The number of ordinary shareholders reached 18,658 by the end of the reporting period[89]. - The largest shareholder, Jiangsu Yangnong Chemical Group Co., Ltd., holds 36.17% of the shares, totaling 112,084,812 shares[90]. - The company did not experience any changes in share capital structure during the reporting period[89]. - The new controlling shareholder is Syngenta Group Co., Ltd., effective from July 12, 2021[95]. Market and Competition - The company is the largest player in the domestic biorational pesticide industry, with a leading position in the production and revenue of pyrethroid pesticides[21]. - The company is focused on resolving potential competition issues with Syngenta Group through various measures, including asset restructuring and business adjustments[66]. - The company plans to balance domestic and international sales to mitigate market risks associated with international trade tensions[41]. Cash Flow and Financing Activities - The cash inflow from operating activities for the first half of 2021 was CNY 5,438,419,484.33, an increase of 16.7% compared to CNY 4,659,074,498.80 in the same period of 2020[111]. - The net cash flow from financing activities was CNY 251,537,993.93, compared to a negative cash flow of CNY -200,495,858.74 in the first half of 2020[112]. - The total cash and cash equivalents at the end of the period reached CNY 2,400,831,756.12, up from CNY 1,989,651,910.08 at the end of the previous year[112]. Compliance and Governance - The company has committed to maintaining compliance with relevant laws and regulations regarding related party transactions, ensuring that no harm is done to the interests of shareholders[68]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[68]. - The company has not proposed any profit distribution or capital reserve transfer plans for the reporting period[44].