NCFC(SH:600889)2021-08-26 16:00Financial Performance - The company's operating revenue for the first half of 2021 reached CNY 257,298,051.93, an increase of 88.29% compared to CNY 136,647,387.14 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 118,197,704.93, a significant recovery from a loss of CNY 41,303,870.73 in the previous year[19]. - Basic earnings per share for the first half of 2021 were CNY 0.32, compared to a loss of CNY 0.11 per share in the same period last year[20]. - The weighted average return on net assets was 6.87%, a recovery from -3.02% in the previous year[20]. - The company reported a significant increase in fixed assets, with a total of ¥559,478,862.74, up 5.16% from the previous year[38]. - The company reported a net profit margin of 22.99% for the current period, compared to 39.86% in the previous period[123]. - The net profit for the first half of 2021 was ¥109,763,996.06, a turnaround from a net loss of ¥41,570,817.03 in the first half of 2020[103]. Cash Flow and Liquidity - The company reported a net cash flow from operating activities of -CNY 59,769,245.29, worsening from -CNY 34,056,132.07 in the same period last year[19]. - The company's cash and cash equivalents decreased by 60.81% to ¥71,195,298.17 from ¥181,685,171.30, indicating reduced bank deposits[37]. - The cash inflow from operating activities in the first half of 2021 was CNY 258,949,419.82, an increase from CNY 177,605,400.64 in the same period of 2020[109]. - The total cash and cash equivalents at the end of the first half of 2021 stood at ¥23,035,756.27, compared to ¥6,935,565.56 at the end of the first half of 2020[113]. - The company experienced a net decrease in cash and cash equivalents of ¥7,285,149.36 for the first half of 2021, compared to a decrease of ¥28,274,820.71 in the same period of 2020[113]. Assets and Liabilities - The total assets decreased slightly by 0.87% to CNY 2,289,362,678.46 from CNY 2,309,365,617.27 at the end of the previous year[19]. - Total liabilities decreased to RMB 637,115,855.47 from RMB 767,172,966.14 at the end of 2020, reflecting improved financial stability[95]. - The total equity as of June 30, 2021, was ¥1,784,401,222.72, slightly up from ¥1,776,625,106.61 at the end of 2020[99]. - The total non-current assets increased to RMB 1,527,410,094.77 from RMB 1,276,167,525.26, reflecting ongoing investments in long-term assets[94]. Research and Development - Research and development expenses surged by 353.92% to ¥9,501,923.51 from ¥2,093,284.26, attributed to the acquisition of Shanghai Yueke Company[36]. - The company's research and development expenses for the first half of 2021 were CNY 1,126,082.91, down from CNY 1,758,069.59 in the first half of 2020[106]. - Research and development expenses increased by 5.08% compared to the previous period, highlighting the company's commitment to innovation[123]. Environmental Compliance and Risks - Environmental compliance has been maintained, with no exceedances reported for major pollutants such as COD and ammonia nitrogen in the first half of 2021[53][57]. - The company is facing risks related to environmental regulations, requiring increased capital investment to enhance equipment technology and ensure stable operation of facilities[44]. - The company established a leadership group to address environmental issues and is taking corrective actions as per the regulatory requirements[66]. Strategic Plans and Market Expansion - The company plans to distribute a cash dividend of CNY 0.20 per 10 shares based on the total share capital of 366,346,010 shares as of the end of 2020[4]. - The company is focusing on gaining a first-mover advantage in the lyocell fiber market due to its excellent properties and significant market potential[43]. - The company plans to expand its production capacity with the ongoing Lyocell project, which has seen significant investment in construction[38]. - The company aims to enhance user engagement through improved data analytics and customer service initiatives[116]. - Future guidance indicates a projected revenue growth of 10% for the next fiscal year, driven by new market strategies[116]. Corporate Governance - The company has experienced changes in its board of directors, with two independent directors resigning and two new directors elected[49]. - The company has not reported any changes in major shareholders or strategic investors during the reporting period[88]. - There were no significant lawsuits or arbitration matters reported during the reporting period[72]. Accounting Policies - The financial statements are prepared based on the assumption of going concern, indicating no significant factors affecting the company's ability to continue operations within the next 12 months[149]. - The company adheres to the accounting standards for enterprises, ensuring that the financial statements reflect a true and complete picture of its financial status and operating results[150]. - The company’s accounting policies for mergers and acquisitions are based on the control principle, with specific methods for both same-control and non-same-control mergers[154][155].