ZZTCO., LTD.(SH:603767)2021-08-19 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥527,986,402.96, representing a 19.83% increase compared to ¥440,626,326.77 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2021 was ¥32,278,255.67, up 17.62% from ¥27,442,764.56 in the previous year[17]. - The net cash flow from operating activities increased significantly by 348.24%, reaching ¥118,282,984.56 compared to ¥26,388,593.16 in the same period last year[17]. - The basic earnings per share for the first half of 2021 was ¥0.11, a 22.22% increase from ¥0.09 in the previous year[19]. - The weighted average return on net assets increased by 0.3 percentage points to 2.19% compared to 1.89% in the same period last year[19]. - The net profit after deducting non-recurring gains and losses was ¥29,711,010.99, which is a 29.43% increase from ¥22,956,022.94 in the same period last year[17]. - Revenue for the reporting period reached ¥527,986,402.96, representing a 19.83% increase compared to ¥440,626,326.77 in the same period last year[40]. - The company reported a total comprehensive income of ¥32,291,513.19 for the first half of 2021, compared to ¥27,442,764.56 in the same period of 2020[102]. Assets and Liabilities - The net assets attributable to shareholders at the end of the reporting period were ¥1,451,226,308.72, a decrease of 0.93% from ¥1,464,862,753.05 at the end of the previous year[17]. - Total assets at the end of the reporting period were ¥1,944,508,786.45, down 2.59% from ¥1,996,300,624.48 at the end of the previous year[17]. - Cash and cash equivalents increased to ¥392,849,021.17, representing 20.22% of total assets, up from 18.43% last year, a growth of 6.79%[44]. - Accounts receivable decreased to ¥178,558,883.88, accounting for 9.19% of total assets, down from 13.52% last year, a decline of 33.83%[44]. - Inventory rose to ¥191,015,551.41, making up 9.83% of total assets, an increase of 5.43% from the previous year[44]. - Fixed assets increased to ¥710,721,021.25, which is 36.58% of total assets, up 15.96% from last year due to new equipment purchases[44]. - Total liabilities decreased to ¥493,282,477.73 from ¥531,437,871.43, a reduction of 7.2%[92]. - The company's total assets as of June 30, 2021, were ¥1,944,508,786.45, down from ¥1,996,300,624.48, a decline of 2.6%[92]. Research and Development - The company has over 70 patents and has been recognized as a high-tech enterprise by various government bodies[27]. - The company’s R&D team includes experts with over 20 years of experience, ensuring competitive development cycles for automotive transmissions[27]. - The company's R&D expenses increased by 41.33% to ¥23,375,856.74, reflecting a commitment to new product development[40]. - Research and development expenses increased to ¥23,375,856.74, up 41.2% from ¥16,539,907.94 in the first half of 2020[97]. Environmental Responsibility - The company operates 8 emission outlets, including 7 from the heat treatment workshop and 1 wastewater discharge outlet, as part of its environmental responsibility[53]. - The wastewater treatment facility has a designed capacity of 350 m³/d, including 15 m³/d for concentrated liquid, 135 m³/d for production wastewater, and 200 m³/d for domestic sewage[58]. - In the first half of 2021, the total COD emissions were 0.73 tons, and ammonia nitrogen emissions were 0.073 tons, both meeting the discharge standards[54]. - All monitored pollutants in the wastewater and air emissions during January to June 2021 were within the regulatory limits, with particulate matter emissions consistently below 20 mg/m³[55]. - The company has engaged third-party services for environmental monitoring, ensuring compliance with the relevant standards and regulations[55][56]. - The company has implemented a centralized wastewater treatment process in the Shangma Industrial Park, ensuring compliance with GB8978-1996 standards[58]. - The company has established an emergency response mechanism for environmental incidents to minimize damage and ensure public safety[61]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,786[78]. - The top shareholder, Wenzhou Zhongtai Investment Co., Ltd., holds 93,556,478 shares, representing 30.56% of the total shares[80]. - The second-largest shareholder, Zhongma Group Co., Ltd., owns 79,553,522 shares, accounting for 25.99% of the total shares[80]. - The report indicates that 390,000 shares held by Liu Qinglin and Zhang Chunsheng are subject to stock incentive plans[83]. - The total number of restricted shares available for trading is 1,632,000, with a 12-month to 36-month lock-up period for different shareholders[87]. - The company has not reported any changes in the controlling shareholder or actual controller during the reporting period[88]. - The financial report does not include an audit report, indicating that the financial statements are unaudited[89]. Operational Strategy - The company has established a strong customer base, including major clients like Great Wall Motors and BAIC Foton, with long-term partnerships[28]. - The company’s marketing strategy emphasizes "zero time, zero distance," enhancing customer service and response times[29]. - The company’s operational model is based on direct sales, aligning production with customer orders to optimize inventory management[25]. - The company has implemented 17 automated production lines, meeting planned requirements for production efficiency[38]. Legal and Compliance - There were no major lawsuits or arbitration matters during the reporting period[68]. - The company and its controlling shareholders maintained a good integrity status, with no significant debts overdue or unfulfilled court judgments[68]. - There were no administrative penalties related to environmental issues during the reporting period[62]. - The company has not disclosed any significant environmental information changes during the reporting period[63]. Financial Instruments and Accounting Policies - The company recognizes financial assets and liabilities when it becomes a party to a financial instrument contract, measuring them initially at fair value[136]. - Financial assets measured at amortized cost are subsequently measured using the effective interest method, with gains or losses recognized in profit or loss upon derecognition or impairment[138]. - The company applies expected credit loss model for impairment measurement of financial assets measured at amortized cost and certain debt instruments, recognizing loss provisions based on the weighted average of credit losses[152]. - The company uses a perpetual inventory system for inventory management[164]. - Long-term equity investments are initially measured at the fair value of the consideration paid, with adjustments made to capital reserves or retained earnings as necessary[170].