Cybrid(SH:603212)2020-08-20 16:00Financial Performance - The company's operating revenue for the first half of 2020 was ¥888,403,651.65, a decrease of 14.80% compared to ¥1,042,668,392.18 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was ¥70,908,117.06, down 29.63% from ¥100,764,578.92 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥63,641,437.84, a decline of 34.83% compared to ¥97,651,296.55 in the same period last year[19]. - The net cash flow from operating activities was ¥64,738,211.14, which is a decrease of 26.97% from ¥88,650,673.26 in the previous year[19]. - Basic earnings per share decreased by 32.14% to CNY 0.19 compared to the same period last year[22]. - Operating revenue decreased by 14.8%, primarily due to a 31.59% decline in solar backsheet sales, while solar cell encapsulation film sales increased by 264.63%[22]. - The weighted average return on net assets dropped by 45.06% to 4.84% compared to the same period last year[22]. - The company recorded a total comprehensive income of ¥70,822,938.70 for the first half of 2020, down from ¥100,903,288.17 in the same period of 2019[141]. - The total profit for the period was 81,745,712.08, a decrease from 116,638,511.79 in the previous period, representing a decline of approximately 30%[145]. - The net profit for the period was 71,182,307.13, down from 100,658,851.77, indicating a decrease of about 29%[145]. Assets and Liabilities - Total assets rose by 14.42% to CNY 2,561,649,563.42 compared to the previous year-end[22]. - The company's total liabilities amounted to ¥807,705,767.03, a decrease from ¥911,982,108.67 in the previous year[136]. - Current liabilities decreased to ¥754,937,840.45 from ¥929,514,935.09, a reduction of approximately 18.8%[129]. - Short-term borrowings decreased significantly to ¥171,735,326.56 from ¥287,037,146.67, a decline of about 40.2%[129]. - The company's equity attributable to shareholders rose to ¥1,737,889,070.26 from ¥1,308,164,009.60, an increase of about 32.8%[129]. Cash Flow - Cash and cash equivalents at the end of the period increased by 103.71% to ¥418,599,971.21, primarily due to the inflow of raised funds[54]. - Net cash flow from operating activities decreased to ¥61,087,944.97 in H1 2020, down from ¥83,767,241.85 in H1 2019, a decline of about 27.1%[155]. - Cash inflow from financing activities totaled ¥573,758,102.64 in H1 2020, a substantial increase from ¥138,720,863.76 in H1 2019, reflecting a growth of about 314.5%[156]. - The cash flow from investing activities showed a net outflow of 293,479,781.41, worsening from a net outflow of 42,008,538.71 in the previous period[151]. Business Operations - The company is focused on developing functional polymer materials for various applications, including energy and electronics[13]. - The company is expanding its production capacity for POE encapsulation film to meet increasing demand in the solar energy sector[29]. - The company signed a strategic cooperation agreement with China Power Investment Corporation to enhance lifecycle maintenance services for solar power plants[30]. - The company is developing biomedical and health products based on its core polymer materials technology, establishing a dedicated laboratory and a wholly-owned subsidiary[31]. - The company aims to increase production capacity and sales in the IGBT and electric vehicle battery markets as domestic demand rises[30]. Shareholder Commitments and Governance - The company has committed to not transferring or entrusting shares for 36 months post-IPO, with automatic extensions under certain conditions[71]. - Major shareholders are committed to not engaging in any competing business with the company during their tenure[76]. - The company will ensure that any related party transactions are conducted at market prices and comply with relevant regulations[76]. - The commitments made by major shareholders are valid for the long term, ensuring the protection of the company's interests[76]. Market and Competitive Position - The market share of the company's backsheet increased to 38.9% in the first half of 2020, up from 30.35% in the same period of 2019, despite challenges from the COVID-19 pandemic[47]. - The sales revenue of POE encapsulation film grew by 264.63% in the first half of 2020 compared to the previous year, contributing significantly to the company's income and profit[43]. - The company has formed strategic partnerships with major clients in both photovoltaic and non-photovoltaic sectors, including collaborations with well-known enterprises like BYD and CATL[41]. Research and Development - Research and development expenses decreased by 16.67% to ¥23,772,562.60, reflecting reduced investment in R&D[48]. - The company established the Cybrid College to enhance the soft skills of R&D and market personnel, indicating a focus on improving technical capabilities[36]. - The company has established an "experiential materials application development center" to collaborate with downstream clients for innovative product development[39]. Regulatory and Compliance - The company has emphasized its commitment to environmental protection, adhering to national laws and regulations, and has not faced any penalties from environmental authorities during the reporting period[95]. - The company has maintained a good integrity status during the reporting period, with no significant debts or court judgments unfulfilled[89]. - The company has not disclosed any significant related party transactions during the reporting period[92].