SINOJIT Technology(SH:601218)2022-08-04 16:00Financial Performance - The company's operating revenue for the first half of 2022 was ¥731,524,791.71, a decrease of 8.33% compared to ¥797,969,179.90 in the same period last year[19] - The net profit attributable to shareholders for the first half of 2022 was ¥69,156,759.37, down 16.15% from ¥82,480,239.11 in the previous year[19] - Basic earnings per share for the first half of 2022 were ¥0.0712, a decrease of 15.84% from ¥0.0846 in the same period last year[20] - The diluted earnings per share were ¥0.0708, down 16.11% from ¥0.0844 in the previous year[20] - The weighted average return on net assets was 2.56%, a decrease of 0.65 percentage points compared to 3.21% in the same period last year[20] - The net profit after deducting non-recurring gains and losses was ¥64,492,090.06, a decrease of 6.96% from ¥69,318,757.31 in the previous year[19] - The company's weighted average net profit margin, excluding non-recurring gains and losses, decreased by 0.32 percentage points to 2.38%[21] - The company reported a total comprehensive income of ¥15.65 million for the first half of 2022, compared to ¥28.28 million in the same period of 2021[106] - The net profit for the first half of 2022 was CNY 68,635,618.75, a decline of 16.43% compared to CNY 82,107,556.84 in the first half of 2021[102] Cash Flow and Assets - The net cash flow from operating activities improved significantly to ¥244,830,461.93, compared to a negative cash flow of ¥10,430,151.24 in the same period last year[19] - The company's cash and cash equivalents increased to ¥785,294,928.56 from ¥274,729,897.20, representing a growth of approximately 186.5%[93] - The total cash and cash equivalents at the end of the first half of 2022 increased to ¥677.67 million, up from ¥297.26 million at the end of the first half of 2021[108] - The company's cash flow from operating activities reached approximately 244.83 million yuan, a significant increase compared to a negative cash flow of 10.43 million yuan in the previous year[34] - The total cash inflow from financing activities was 105,326,893.00 RMB, while cash outflow amounted to 313,346,889.81 RMB, resulting in a net cash flow of -208,019,996.81 RMB[111] - The total assets increased by 3.88% to ¥4,168,674,205.85 from ¥4,013,160,577.27 at the end of the previous year[19] - The company’s total assets included cash and cash equivalents of approximately 785.29 million yuan, representing 18.84% of total assets, an increase of 185.84% year-on-year[36] - Total current assets increased to ¥2,310,515,512.32 from ¥2,105,641,126.31, reflecting a growth of about 9.7%[93] Liabilities and Equity - The total liabilities increased to ¥1,447,567,157.61 from ¥1,274,724,294.00, which is an increase of about 13.5%[95] - The company's total equity decreased slightly to ¥2,721,107,048.24 from ¥2,738,436,283.27, a decline of approximately 0.6%[95] - Long-term loans decreased by 23.94% to ¥134.19 million, also due to repayment of principal and interest[37] - The total amount of guarantees provided by the company (including guarantees to subsidiaries) is RMB 755,214,247, which accounts for 27.75% of the company's net assets[72] - The total amount of guarantees provided to subsidiaries during the reporting period is RMB 340,000,000[72] Research and Development - The company applied for and accepted 1 invention patent and 6 utility model patents during the reporting period, with a total of 68 authorized patents, including 19 invention patents[31] - The company plans to enhance R&D investment and improve product technology to strengthen its market position[42] - Research and development expenses were CNY 24,639,338.19, down from CNY 35,251,344.46 in the first half of 2021, indicating a reduction of 30.06%[101] - The company developed new materials QT500-14 and QT600-10AL, which are recognized for their advanced performance in high-end wind power castings, filling a gap in national standards[29] Market and Industry Outlook - The wind power industry is projected to see an annual average increase of 23 GW in new installation capacity from 2018 to 2027, with a CAGR of 1.9%[24] - The global offshore wind power capacity is expected to exceed 234 GW by 2030, indicating strong market growth potential[23] - The wind power installed capacity in China reached approximately 340 million kW, reflecting a year-on-year growth of 17.2%[24] Corporate Governance and Management - The company appointed Wu Jie as the new secretary of the board on January 24, 2022, following the resignation of Zhu Taoyun[49] - The company approved the 2022 restricted stock incentive plan and its summary during the first extraordinary general meeting on April 1, 2022[46] - The company has not disclosed any new employee stock ownership plans or other incentive measures[53] - The company has completed the registration procedures for the restricted stock incentive plan with the China Securities Depository and Clearing Corporation[52] Environmental and Social Responsibility - The company has established pollution prevention facilities in accordance with national and local environmental protection requirements, ensuring effective operation through monitoring systems[55] - The company is actively conducting clean production audits to improve resource utilization efficiency and reduce pollutant generation[60] - The company has completely eliminated high-pollution fuels and equipment, such as replacing wood with natural gas and electric furnaces with cupola furnaces[61] - The company is constructing a 150MW wind power plant in Hebei, contributing to green clean energy and alleviating environmental pollution[60] Risks and Challenges - The company faces risks from fluctuations in the wind power industry, policy changes, and raw material price volatility[42] - The company has pledged various assets, including cash and fixed assets, totaling ¥1.06 billion for financing purposes[38]