LIBA(SH:603519)2021-08-24 16:00Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥744.98 million, representing a 45.29% increase compared to ¥512.74 million in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2021 was approximately ¥52.02 million, a slight increase of 0.36% from ¥51.83 million in the previous year[21]. - The net profit after deducting non-recurring gains and losses was approximately ¥51.95 million, which is a 6.85% increase from ¥48.62 million in the same period last year[21]. - The basic earnings per share for the first half of 2021 were ¥0.20, down 13.04% from ¥0.23 in the same period last year[21]. - The weighted average return on equity was 6.61%, a decrease of 0.23 percentage points from 6.84% in the previous year[21]. - The company reported a total profit of 67,639.99 million, with a significant non-operating loss of -723,423.25 million impacting overall performance[23]. - The company’s total profit for the first half of 2021 was CNY 58,016,846.20, down 2.5% from CNY 59,472,622.58 in the same period of 2020[106]. - The company's operating profit was CNY 58,740,269.45, an increase from CNY 57,424,694.34 in the same period last year[106]. Cash Flow and Financial Position - The net cash flow from operating activities was negative at approximately -¥11.29 million, a significant decrease of 112.99% compared to ¥86.88 million in the previous year[21]. - The company's cash and cash equivalents decreased by 52.82% to 144,558,990.20 CNY, mainly due to increased raw material purchases and long-term equity investments[40]. - Cash flow from operating activities showed a significant decline of 112.99%, resulting in a net outflow of 11,285,796.64 CNY, attributed to increased procurement costs[38]. - The company's cash inflow from operating activities totaled 785,447,738.07 RMB, up from 481,548,684.30 RMB in the first half of 2020, reflecting a year-over-year increase of approximately 63.1%[111]. - The ending balance of cash and cash equivalents was 63,024,357.70 RMB, down from 175,484,819.27 RMB at the end of the first half of 2020, reflecting a decrease of approximately 64.0%[112]. - The total assets at the end of the reporting period were approximately ¥1.33 billion, a decrease of 6.62% from ¥1.43 billion at the end of the previous year[21]. - The total current assets as of June 30, 2021, amount to ¥977,896,868.56, a decrease from ¥1,095,838,871.48 at the end of 2020[93]. - The total liabilities decreased from ¥666,485,236.49 to ¥564,409,706.83 over the same period[94]. Research and Development - Research and development expenses increased by 51.44% to 21,703,222.73 CNY, primarily due to increased investment in R&D materials[38]. - The company filed 3 invention patents and developed 52 new PCM products, with 16 entering mass production, and 23 new VCM products, with 3 entering mass production[36]. - The company plans to continue focusing on market expansion and new product development as part of its strategic initiatives moving forward[106]. Market and Industry Trends - In the first half of 2021, the domestic home appliance market retail sales reached 3,805.3 billion, reflecting a year-on-year growth of 13.1%[31]. - The online market sales scale reached 1,851.1 billion, with a year-on-year growth rate of 21.5%, indicating a shift in consumer purchasing behavior[31]. - The steel production in China saw a year-on-year increase of 11.8%, with crude steel output reaching 56,333 million tons in the first half of 2021[29]. - The company operates in the home appliance composite materials sector, directly linked to the home appliance industry's growth and market conditions[46]. Environmental Compliance - The company upgraded its VOCs waste gas treatment system, introducing three sets of RTO regenerative thermal oxidation devices to convert low-concentration VOCs pollutants into high-concentration gases, significantly reducing carbon emissions[59]. - The company reported that all wastewater and waste gas monitoring results met current standards, indicating compliance with environmental regulations[58]. - The company has established a self-monitoring plan for environmental compliance, with all monitoring results being qualified and publicly disclosed[62]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[63]. Shareholder and Equity Information - The total number of shares increased from 221,939,866 to 266,327,839, with an increase of 44,387,973 shares due to a cash dividend of 0.2 RMB per share and a capital reserve conversion of 0.2 shares per share[80]. - The company distributed a total cash dividend of 44,387,973.20 RMB during the profit distribution plan[80]. - The top shareholder, Lu Fengxian, holds 69,039,049 shares, representing 25.92% of the total shares[83]. - The total equity attributable to the parent company at the end of the previous year was 760,810,101.23, with a capital stock of 221,939,866.00 and a surplus reserve of 89,518,390.83[114]. Corporate Governance and Management - The company has appointed a new CFO, Shi Meijiao, following the resignation of the previous CFO, Lu Weiming, in March 2021[53]. - The financial statements were approved by the board of directors on August 24, 2021, ensuring compliance with corporate governance standards[128]. - The company has committed to long-term stockholding by major shareholders, ensuring stability in shareholding structure[65]. Risk Management - The company is facing risks related to the cyclical nature of the home appliance industry, which may impact production and profitability if consumer demand declines[46]. - The company will continue to monitor raw material price fluctuations and implement cost control measures to mitigate potential impacts on performance stability[46].