CJJG(SH:600496)2021-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2021 reached ¥6,435,826,791.35, representing a 36.55% increase compared to ¥4,713,069,658.64 in the same period last year[23]. - Net profit attributable to shareholders of the listed company was ¥330,212,638.26, up 22.51% from ¥269,529,150.64 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was ¥307,999,511.65, reflecting a 33.06% increase from ¥231,479,431.99 in the same period last year[23]. - Basic earnings per share for the first half of 2021 were ¥0.1641, a 10.21% increase compared to ¥0.1489 in the same period last year[26]. - The company achieved a total business revenue of CNY 6.44 billion, representing a year-on-year growth of 36.55%[69]. - The net profit attributable to the parent company was CNY 330 million, with a year-on-year increase of 22.51%[60]. - The company reported a net profit for the first half of 2021 of ¥328,131,984.70, representing a 22.6% increase compared to ¥267,654,613.30 in the first half of 2020[168]. Cash Flow and Assets - The company's net cash flow from operating activities was -¥488,988,064.09, a significant decrease compared to ¥228,517,312.90 in the previous year, marking a decline of 313.98%[23]. - The company's cash and cash equivalents decreased to ¥2,225,337,677.28 from ¥3,135,514,679.82, representing a decline of approximately 29.0%[152]. - Cash flow from operating activities showed a net outflow of ¥488,988,064.09, down from a net inflow of ¥228,517,312.90 in the first half of 2020[179]. - The ending balance of cash and cash equivalents was ¥669,927,930.78, slightly up from ¥629,749,635.89 at the end of the previous year[181]. - The company's total assets at the end of the reporting period were ¥16,825,093,409.05, which is a 6.19% increase from ¥15,843,935,032.64 at the end of the previous year[23]. - Current assets totaled ¥12,564,331,274.92, slightly up from ¥12,407,014,582.89, indicating a growth of about 1.3%[152]. Investments and R&D - The company has invested over 2 billion yuan in R&D over the past 8 years, establishing a strong technical foundation and receiving multiple national and provincial awards for technological advancements[54]. - The company invested CNY 265 million in R&D expenses, which is a 50.15% increase compared to the previous year[69]. - Research and development expenses for the first half of 2021 were ¥265,280,570.06, a significant increase from ¥176,678,177.95 in the same period of 2020, reflecting a 50.1% rise[164]. Market Position and Strategy - The company is transitioning from a subcontractor in steel structure engineering to an EPC (Engineering, Procurement, and Construction) contractor, enhancing its position in the industry and improving pricing power[37]. - The company aims to maintain a new construction area of prefabricated buildings at over 30% of total new construction by 2025, as outlined in regional government plans[39]. - The EPC model is being promoted as an effective investment control and project management approach, with government policies encouraging its adoption in prefabricated buildings[42]. - The company has developed the Green Building System (GBS), which can reduce construction waste by 90% and save 80% of water during manufacturing and installation[99]. Risks and Challenges - The company has outlined potential risks in its management discussion and analysis section, advising investors to be cautious[7]. - The construction industry faces a labor supply shortage, with the number of workers in the sector decreasing by 3.2% compared to 2019, highlighting the need for mechanized solutions like steel structures[52]. - The company closely monitors macroeconomic conditions and adjusts its operational strategies accordingly to mitigate risks associated with economic cycles and government policies[84]. Corporate Governance and Shareholder Information - The company has appointed new executives, including Zhang Lei as Vice President and Li Dong as Co-President, to strengthen its leadership team[91]. - The total number of ordinary shareholders as of the end of the reporting period is 133,520[133]. - The top ten shareholders hold a total of 300,000,000 shares, representing 14.90% of the total shares[134]. - The largest shareholder, Jinggong Holding Group (Zhejiang) Investment Co., Ltd., has pledged 200,000,000 shares[134]. Mergers and Acquisitions - The company completed the merger with Zhejiang Jinggong International Steel Structure Engineering Co., Ltd. in April 2021, leading to retrospective adjustments in financial statements[27]. - The company has purchased 100% equity of Zhejiang Jinggong International Steel Structure Engineering Co., Ltd. for 122.55 million RMB to acquire land necessary for factory expansion[111].