JONJEE(SH:600872)2021-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2021 was CNY 2,315,936,351.68, a decrease of 9.34% compared to the same period last year[16]. - The net profit attributable to shareholders decreased by 38.51% to CNY 279,819,325.70, primarily due to a decline in seasoning sales and an increase in raw material procurement prices[18]. - The net cash flow from operating activities fell by 40.85% to CNY 397,846,884.27, impacted by decreased sales and rising costs[16]. - Basic earnings per share decreased by 37.89% to CNY 0.3548, reflecting the decline in net profit[17]. - The weighted average return on equity decreased by 4.97 percentage points to 6.12%[17]. - The total revenue for the reporting period was 2.316 billion RMB, a year-on-year decrease of 9.34% due to rising raw material prices[25]. - The net profit for the company was 302 million RMB, reflecting a year-on-year decrease of 39.29%[25]. - The company reported a decrease of 39.11% in net profit after deducting non-recurring gains and losses[16]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 6,539,330,505.65, a decrease of 1.80% from the previous year[16]. - The net assets attributable to shareholders decreased by 12.96% to CNY 4,017,721,850.56[16]. - Total liabilities increased to CNY 2,124,038,761.26, up 27.4% from CNY 1,667,284,387.78[74]. - Current liabilities totaled CNY 2,006,602,187.26, reflecting a rise of 28.8% compared to CNY 1,557,355,939.04[74]. - The total equity attributable to shareholders decreased to CNY 4,017,721,850.56 from CNY 4,615,875,380.59, a drop of 13.0%[74]. Cash Flow - The company's cash and cash equivalents at the end of the period were ¥830,979,925.38, representing 12.71% of total assets, a significant increase of 243.80% from ¥241,700,996.57 last year[29]. - The net cash flow from investing activities surged by 221.50% to ¥693,227,968.06, influenced by the redemption of temporary investments[26][27]. - Cash outflow from operating activities increased to 2,414,728,597.33 from 2,197,466,241.17, representing an increase of approximately 10%[83]. - The company reported a net decrease in cash and cash equivalents of CNY 55,615,146.94 for the first half of 2021, compared to a decrease of CNY 39,794,254.43 in the first half of 2020[87]. Investments and Development - The company invested a total of ¥1.831 billion in the Yangxi base and Zhongshan plant renovation projects during the reporting period[33][34]. - Research and development expenses increased by 18.35% to ¥86,734,492.89, reflecting an increase in R&D projects[26][27]. - The company is actively pursuing technological innovation and has established several research and development platforms[24]. - The company aims to implement a systematic and differentiated product development strategy as part of its product development efforts[25]. Market and Strategy - The company plans to accelerate market expansion and channel penetration, focusing on developing blank markets and enhancing dealer support[25]. - The company faces risks related to market fluctuations and raw material price increases, which investors should be aware of[6]. - The company is addressing market distribution imbalances and raw material price volatility risks in its seasoning business[37]. Environmental Compliance - The company has implemented an online monitoring system for pollutants such as COD, pH, and nitrogen oxides, ensuring real-time compliance with environmental standards[50]. - The actual COD discharge from Guangdong Meiwei Xian was 9.723 tons in the first half of 2021, significantly below the permitted amount of 74.095 tons[44]. - The company has completed environmental impact assessments for new projects, including the establishment of the Chubang Food Research Institute and hot pot base material projects, expected to be approved by December 2021[47]. Shareholder Information - The company committed to not selling its shares below RMB 2.9 during the lock-up period of 36 months following the equity division reform[54]. - As of July 16, 2021, the company completed the repurchase of 14,388,000 shares, representing 1.81% of the total share capital, at an average price of RMB 41.694 per share[63]. - The company initiated a share repurchase plan with a total fund of no less than RMB 300 million and no more than RMB 600 million, with a maximum repurchase price of RMB 60.00 per share[63]. Accounting and Financial Reporting - The company adheres to the accounting standards issued by the Ministry of Finance, ensuring the financial statements reflect a true and complete picture of its financial status[102]. - The company applies a unified accounting policy for consolidated financial statements, reflecting the overall financial status, operating results, and cash flows of the group[107]. - The company recognizes revenue when control of goods or services is transferred to the customer, which is when the customer can direct the use and obtain almost all economic benefits[159].