JACK(SH:603337)2021-08-19 16:00Financial Performance - The company's operating revenue for the first half of 2021 reached RMB 336,842.57 million, a 105.20% increase compared to RMB 164,150.92 million in the same period last year[23]. - The net profit attributable to shareholders of the listed company was RMB 25,697.07 million, representing a 206.87% increase from RMB 8,374.04 million year-on-year[23]. - The net profit after deducting non-recurring gains and losses was RMB 24,583.84 million, up 152.39% from RMB 9,740.60 million in the previous year[23]. - Basic earnings per share for the first half of 2021 were RMB 0.59, a 210.53% increase from RMB 0.19 in the same period last year[24]. - The diluted earnings per share were RMB 0.58, up 205.26% from RMB 0.19 year-on-year[24]. - The weighted average return on net assets increased by 5.30 percentage points to 8.41% from 3.11% in the previous year[24]. - The company reported a total revenue of RMB 11,210 million for the first half of 2021, with actual sales amounting to RMB 4,816.97 million[150]. - The company achieved sales of sewing machines and parts amounting to RMB 5,400 million in 2021, with actual sales for the first half reaching RMB 2,539.89 million[150]. - The total profit for the first half of 2021 was ¥295,298,324.75, compared to ¥104,296,218.79 in the same period of 2020, representing an increase of about 183.5%[197]. Cash Flow and Assets - The net cash flow from operating activities was RMB 12,283.04 million, a decrease of 60.90% compared to RMB 31,415.48 million in the same period last year[23]. - Cash and cash equivalents decreased by 56.76% to ¥309,230,740.82, accounting for 5.13% of total assets[87]. - Accounts receivable increased by 110.49% to ¥974,236,124.14, representing 16.17% of total assets[87]. - Inventory rose by 32.37% to ¥1,317,034,020.88, making up 21.86% of total assets[87]. - The company's total assets amounted to ¥4,879,253,610.08, compared to ¥4,349,576,368.80 at the end of 2020, reflecting an increase of about 12.1%[190]. - The total liabilities of the company reached RMB 2,880,131,788.04, up from RMB 2,100,194,733.42, which is an increase of about 37.1%[183]. Industry Performance - The company accounted for 18.83% of the total sales revenue of 236 regulated enterprises in the sewing machinery industry[50]. - The sewing machinery industry saw a total operating revenue of 17.884 billion yuan in the first half of 2021, reflecting a year-on-year growth of 55.64%[47]. - The company’s sales of sewing machinery reached 4.3508 million units, a year-on-year increase of 79.66%[49]. - The export value of sewing machinery products in the first half of 2021 was 1.499 billion USD, up 60.41% year-on-year[49]. Research and Development - As of June 30, 2021, the company held a total of 2,092 valid patents, including 848 invention patents, 1,039 utility model patents, and 205 design patents[57]. - The company has established R&D bases in multiple locations, including Germany, Italy, and various cities in China, enhancing its technological research and development capabilities[57]. - R&D expenses increased by 69.98% to approximately CNY 153.55 million, driven by the expansion of R&D projects and personnel[79][82]. - The company established a large R&D management platform to enhance product competitiveness and innovation capabilities[73]. Environmental Responsibility - The company was recognized as a provincial-level green factory in 2020, emphasizing its commitment to environmental protection and sustainable development[119]. - The company has established multiple pollution control facilities across its plants to ensure compliance with environmental standards[122]. - The company conducts regular environmental monitoring, including real-time updates on COD, ammonia nitrogen, and pH levels in wastewater[125]. - The company reported no administrative penalties due to environmental issues during the reporting period[130]. Risks and Challenges - The company has outlined potential risks related to its business operations in the report, advising investors to be cautious[8]. - The company is facing risks from raw material price fluctuations, which could impact profitability due to market conditions[103]. - The company is exposed to exchange rate risks, particularly with USD and EUR fluctuations affecting its overseas operations[102]. - The sewing machinery industry is highly competitive and cyclical, requiring careful management of procurement, production, and sales[99]. Corporate Governance - The company has experienced management changes, with the resignation of the vice chairman and the election of a new board member[112]. - The company has not proposed any profit distribution or capital reserve increase for the first half of 2021, indicating a focus on reinvestment[113]. - The company’s controlling shareholders have pledged not to interfere with the company's management activities and to protect the company's interests[145]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 8,349[172]. - The largest shareholder, Taizhou Jack Trading Co., Ltd., held 190,031,519 shares, accounting for 42.62% of total shares[172]. - The top ten shareholders collectively held a significant portion of the company's shares, with the top four alone accounting for over 68%[172].