Yulong Gold(SH:601028)2021-08-20 16:00Financial Performance - The company's operating revenue for the first half of 2021 reached ¥5,584,746,523.24, representing a 29.47% increase compared to ¥4,313,449,835.57 in the same period last year[21]. - Net profit attributable to shareholders was ¥203,643,723.09, a significant increase of 256.41% from ¥57,137,640.42 in the previous year[21]. - The net cash flow from operating activities was ¥109,672,877.21, a recovery from a negative cash flow of ¥149,084,755.15 in the same period last year[21]. - Basic earnings per share rose to ¥0.2601, up 256.30% from ¥0.0730 in the same period last year[21]. - The weighted average return on net assets increased by 6.18 percentage points to 8.91% from 2.73% in the previous year[21]. - The company reported non-operating income of ¥5,210,400.00 from government subsidies related to its normal business operations[22]. - The company's commodity trading business achieved revenue of 5.585 billion RMB, a year-on-year increase of 29.47%[28]. - The net profit attributable to shareholders reached 204 million RMB, representing a year-on-year growth of 256.41%[28]. - The company’s undistributed profits increased by 55.90% to CNY 567.97 million, reflecting improved profitability[43]. - The company reported a total comprehensive income attributable to the parent company of CNY 204,986,890.42, compared to CNY 57,137,640.42 in the previous period[124]. Assets and Liabilities - The company's total assets decreased by 9.90% to ¥3,344,504,524.59 from ¥3,712,030,779.15 at the end of the previous year[21]. - The company's total assets reached CNY 3.34 billion, with net assets attributable to shareholders amounting to CNY 2.39 billion[35]. - Total liabilities decreased to approximately CNY 838.82 million from CNY 1.41 billion, a reduction of about 40.5%[111]. - The company's equity attributable to shareholders increased to approximately CNY 2.39 billion from CNY 2.18 billion, reflecting a growth of about 9.4%[111]. - The total amount of guarantees provided by the company during the reporting period was CNY 30,000,000, all of which were for subsidiaries[85]. Inventory and Receivables - The company reduced its inventory by 50.44%, with current inventory valued at CNY 288.36 million[43]. - Accounts receivable at the end of the reporting period amounted to ¥753,367,367.57, an increase of 56.68% compared to the end of the previous year, attributed to business scale growth[45]. - Inventory at the end of the reporting period was ¥288,357,373.89, a decrease of 50.44% from the previous year, due to increased sales of prior inventory[45]. - Other receivables at the end of the reporting period were ¥4,862,481.74, a decrease of 66.36% from the previous year, mainly due to the recovery of contract deposits[45]. Business Strategy and Market Outlook - The company aims to expand its business model and optimize its resource allocation to enhance profitability and core competitiveness[28]. - The company has established stable supply and sales channels, ensuring the continuous and stable development of its commodity trading business[29]. - The company plans to focus on expanding its customer base and sales channels to further improve profitability[28]. - The coal trade market is expected to maintain growth, with coal prices fluctuating at high levels due to supply and demand dynamics[30]. - The coal market is expected to experience tight supply and demand in certain regions, leading to potential price volatility[30]. Legal and Compliance Matters - The company faces risks related to macroeconomic fluctuations, human resources, and customer performance, which could adversely affect its business operations[52]. - The company has committed to avoiding any business that competes with its main operations during its existence, ensuring no conflict of interest with its shareholders[62]. - The commitment to maintain independence in personnel, assets, finance, and operations has been reaffirmed, ensuring no overlap with controlling enterprises[70]. - The company guarantees that its financial personnel will not hold positions in other controlled enterprises, ensuring financial independence[71]. - The company has ensured that any unavoidable related party transactions will be conducted legally and transparently[71]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,073[92]. - The largest shareholder, Hainan Hou Ai Technology Co., Ltd., holds 26.00% of the shares, totaling 203,621,858 shares[92]. - The second-largest shareholder, Jinan High-tech Holding Group Co., Ltd., holds 24.00% of the shares, totaling 187,920,000 shares[92]. - The company did not experience any changes in its total share capital or share structure during the reporting period[91]. Financial Management and Capital Structure - The company has a registered capital of RMB 35,809.58 million after multiple rounds of capital increases and stock issuances[169]. - The company has undergone several capital increases, including a public offering of 7,950,000 shares in 2011, which raised the registered capital significantly[169]. - The company has engaged in various capital management strategies, including share buybacks and capital reserves transfers, to optimize its equity structure[169]. - The company’s financial performance indicates a stable growth trajectory, supported by effective capital management and strategic investments[169]. Accounting and Financial Reporting - The financial statements are prepared based on the going concern principle, indicating the company’s ability to continue operations for at least 12 months[176]. - The company adheres to the accounting standards, ensuring that financial reports accurately reflect its financial position and performance[179]. - The accounting period for the company runs from January 1 to December 31 each year, with a normal operating cycle of 12 months[180]. - The company’s functional currency for accounting purposes is Renminbi[182].