LGWH(SH:601599)2021-08-24 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,344,556,435.14, representing a 126.99% increase compared to ¥592,336,660.09 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥41,696,114.96, a significant recovery from a loss of ¥1,023,004,749.83 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥26,846,030.79, compared to a loss of ¥1,031,040,982.66 in the same period last year[18]. - The net cash flow from operating activities was -¥65,281,480.58, a decrease of 393.98% from ¥22,206,241.37 in the previous year[18]. - The net profit for the first half of 2021 was ¥45,209,083.75, a recovery from a net loss of ¥1,051,362,280.25 in the same period of 2020[117]. - The company reported a basic and diluted earnings per share of ¥0.05, compared to a loss of ¥1.15 per share in the first half of 2020[118]. - The company's equity increased to CNY 1,188,736,767.32, up from CNY 566,394,251.41, indicating a growth of approximately 109.0%[111]. - The earnings per share (EPS) for the current period was CNY 0.52, compared to CNY 0.45 in the previous period, indicating improved profitability[146]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4,398,412,093.53, reflecting a 15.13% increase from ¥3,820,498,278.68 at the end of the previous year[18]. - The company's total assets increased to CNY 4,398,412,093.53, up from CNY 3,820,498,278.68 at the end of 2020, representing a growth of approximately 15.1%[109]. - Total liabilities decreased slightly to CNY 3,209,675,326.21 from CNY 3,254,104,027.27, a reduction of about 1.4%[111]. - The total liabilities at the end of the period were CNY 526,174,179.9, reflecting a manageable debt level[145]. Cash Flow - The company reported a net cash outflow from operating activities of ¥65,281,480.58 in the first half of 2021, compared to a net inflow of ¥22,206,241.37 in the same period of 2020[123]. - The net cash flow from financing activities for the first half of 2021 was ¥323,262,168.34, a recovery from a net outflow of ¥260,080,924.42 in the first half of 2020[124]. - The company reported an investment activity cash inflow of ¥103,345,474.53 in the first half of 2021, compared to ¥601,720,364.00 in the same period of 2020[124]. - The company reported a net increase in cash and cash equivalents of ¥368,030,628.38, compared to an increase of ¥65,543,971.99 in the first half of 2020[127]. Business Segments - The textile business generated revenue of 1,308.22 million yuan, reflecting a year-on-year increase of 15.69%[20]. - The company is involved in various segments including traditional TV dramas, web series, and film investment and distribution[25]. - The film and television business is gradually improving due to better operational management and resource allocation[20]. - The company is focusing on integrating resources with Zhejiang Cultural Investment to enhance its competitive advantage in the film and television sector[20]. Environmental Compliance - The company has implemented measures to ensure that wastewater from its textile business meets environmental standards, with a treatment capacity of 5,000 tons per day for pre-treatment facilities and 20,000 tons per day for the third phase of wastewater treatment[73]. - The company has received pollution discharge permits valid until December 2025, ensuring compliance with environmental regulations[75]. - The company has not reported any major environmental violations or received administrative penalties during the reporting period, indicating a strong commitment to environmental protection[70]. - The company has invested in wastewater heat recovery projects, water purification equipment, and air purification devices to enhance environmental protection[79]. Risks and Challenges - The company faced risks related to the impact of COVID-19 on its film and television business, which could affect production activities and overall performance[58]. - The tightening of regulatory policies in the film and television industry poses a risk to the company's production and distribution capabilities, potentially impacting financial performance[59]. - The fluctuation in prices of raw materials, particularly wool and acrylic, could impact the company's production costs and profitability in the textile sector[63]. - The company is at risk of contract execution and termination issues related to its film and television sales agreements, which could affect revenue recognition[61]. Shareholder Information - The company issued 267,817,489 new shares to its controlling shareholder, Zhejiang Cultural Industry Investment Group Co., Ltd., raising a total of approximately ¥599.91 million[96]. - The total number of common shareholders reached 27,764 by the end of the reporting period[99]. - The top ten shareholders include Zhejiang Cultural Industry Investment Group Co., Ltd. holding 267,817,489 shares (23.08%) and other notable shareholders such as Qian Wenlong with 118,923,722 shares (10.25%)[101]. - The restricted shares held by Zhejiang Cultural Industry Investment Group Co., Ltd. will become tradable on June 4, 2024[103]. Corporate Governance - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital during the reporting period[4]. - The company has not reported any changes in accounting policies or prior period error corrections during this period[150]. - The company has committed to maintaining its independence and avoiding conflicts of interest with its controlling shareholder[84]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[80].