DIBAY(SH:603320)2021-08-24 16:00Financial Performance - The company's operating revenue for the first half of 2021 reached ¥560,748,167.78, representing a year-on-year increase of 69.52% due to increased sales volume and price hikes of motor products[16]. - The net profit attributable to shareholders of the listed company was ¥49,450,540.68, a significant increase of 117.93% compared to the same period last year[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses surged by 224.22% to ¥36,659,441.95, primarily due to a low base from the previous year affected by the pandemic[16]. - The basic earnings per share for the first half of 2021 was ¥0.38, reflecting a 123.53% increase year-on-year[16]. - Operating revenue for the period was 560.75 million yuan, a 69.52% increase from 330.79 million yuan in the same period last year[30]. - The company reported a total profit of ¥58,899,953.30 for the first half of 2021, up from ¥27,100,482.87 in the same period of 2020, reflecting an increase of approximately 117.0%[87]. - The company’s total comprehensive income for the first half of 2021 was ¥49,547,708.44, compared to ¥22,677,923.64 in the same period of 2020, indicating an increase of approximately 118.1%[88]. Cash Flow and Assets - The net cash flow from operating activities decreased by 76.11% to ¥15,992,926.85, mainly due to reduced government subsidies and tax refunds received, along with increased cash payments for raw material purchases[16]. - Cash and cash equivalents decreased by 26.58% to 237.92 million yuan, attributed to increased payments for materials and wages[32]. - Inventory increased by 94.22% to 222.24 million yuan, mainly due to rising raw material prices and increased stock levels[32]. - The total assets of the company increased by 10.09% to ¥1,267,583,285.18 compared to the end of the previous year[16]. - Current assets totaled CNY 673,501,325.87, an increase from CNY 516,944,032.77, reflecting a growth of approximately 30.3%[83]. - The company reported a total cash and cash equivalents balance of CNY 229,599,312.45 at the end of June 2021, down from CNY 234,854,007.17 at the end of June 2020[94]. Market Position and Sales - The company has a strong market position, being a leading supplier of compressor motors with a complete product range covering household, light commercial, and heavy commercial sectors[24]. - The company sold 8.1 million compressor motors during the reporting period, a historical high compared to 5.91 million units in the same period last year[27]. - The commercial market, particularly central air conditioning, experienced a significant recovery with a 44% year-on-year growth in the first half of 2021[23]. - The company achieved sales revenue of CNY 253,261,601.72 from goods and services, an increase of 35.0% compared to CNY 187,400,379.34 in the same period last year[93]. Research and Development - The company invested 18.96 million in R&D during the reporting period and holds a total of 72 authorized patents, including 10 invention patents[25]. - Research and development expenses rose by 62.33% to 18.96 million yuan, reflecting increased investment in R&D[30]. Risks and Challenges - The company faces risks from rising production costs, particularly in labor and raw materials like silicon steel, copper, and aluminum, which are influenced by economic conditions and supply-demand dynamics[37]. - The company is exposed to exchange rate fluctuations due to its import and export trade primarily settled in USD and EUR, which may increase its foreign exchange risk[39]. Corporate Governance and Compliance - The company has established a robust governance structure, including a shareholders' meeting, board of directors, and supervisory board, to ensure effective management[108]. - The company has not faced any environmental penalties during the reporting period, adhering to various environmental protection laws[46]. - The company is committed to environmental protection by ensuring that pollutants are discharged within standards and is actively researching energy-efficient compressor motors[47]. Shareholder Information - The total number of unrestricted circulating shares is 130,007,245, which represents 100% of the total shares after the recent change[58]. - The largest shareholder, Dibe Holdings Limited, holds 62,176,109 shares, accounting for 47.83% of the total shares[63]. - The total number of shareholders at the end of the reporting period is 8,408[61]. Taxation and Financial Policies - The company has a corporate income tax rate of 15% for itself, while other subsidiaries have rates ranging from 20% to 25%[191]. - The company benefits from a tax deduction for R&D expenses, allowing a 100% deduction for expenses not forming intangible assets and a 200% deduction for those that do[192].