First(SH:603806)2022-08-29 16:00Financial Performance - The company's operating revenue for the first half of 2022 was ¥9,015,235,224.78, representing a 57.73% increase compared to ¥5,715,649,358.37 in the same period last year[14]. - Net profit attributable to shareholders was ¥1,057,025,269.57, up 16.98% from ¥903,623,386.30 in the previous year[14]. - The net profit after deducting non-recurring gains and losses was ¥1,001,881,047.22, reflecting a 14.45% increase from ¥875,388,467.26 year-on-year[14]. - Basic earnings per share for the first half of 2022 were ¥0.79, up 12.86% from ¥0.70 in the same period last year[15]. - The company achieved a revenue of 901,523.52 thousand yuan, representing a year-on-year growth of 57.73%[30]. - The net profit attributable to shareholders was 105,702.53 thousand yuan, an increase of 16.98% compared to the previous year[30]. - The total comprehensive income for the first half of 2022 was ¥1,054,306,465.82, compared to ¥861,310,964.48 in the first half of 2021, indicating a growth of 22.4%[120]. - The total profit for the first half of 2022 was ¥1,015,559,074.21, an increase of 15% from ¥884,268,287.26 in the first half of 2021[120]. Cash Flow and Financial Position - The company's net cash flow from operating activities decreased by ¥1,256,496,429.01, primarily due to increased accounts receivable and inventory[16]. - Cash and cash equivalents decreased by 31.88% to ¥1,818,118,278.46, accounting for 11.24% of total assets[40]. - Accounts receivable increased by 34.73% to ¥4,384,270,269.71, representing 27.10% of total assets[40]. - Inventory rose by 22.12% to ¥2,991,591,186.28, making up 18.49% of total assets[40]. - The company's total assets increased to ¥14,447,592,319.28, up from ¥12,176,315,674.39, reflecting a growth of 18.63%[115]. - Total liabilities amounted to ¥2,998,845,385.09, a significant increase from ¥1,255,243,776.88, marking a growth of 138.06%[115]. - The company's total equity at the end of June 2022 was CNY 11,448,746,934.19, up from CNY 10,921,071,897.51 at the end of the previous year, indicating a growth of approximately 4.8%[141]. Research and Development - The company's R&D expenses rose by 72.38% year-on-year, reflecting increased investment in product development[38]. - Research and development expenses for the first half of 2022 were ¥321,206,585.12, up 72.25% from ¥186,339,045.56 in the same period of 2021[117]. - The company is committed to continuous technological innovation, collaborating with leading component manufacturers to enhance the performance of photovoltaic films[23]. - The company plans to enhance its technological capabilities through ongoing research and development initiatives[143]. Market and Industry Outlook - The photovoltaic industry is expected to see significant growth, with China's new installed capacity reaching approximately 30.88 GW in the first half of 2022, a 137.4% increase compared to the same period in 2021[22]. - The U.S. Inflation Reduction Act is projected to create conditions for record growth in solar energy development, potentially adding 49 GW of solar capacity annually by 2025[22]. - The global PCB market is projected to grow from approximately $80.4 billion in 2021 to $101.6 billion by 2026, with a compound annual growth rate (CAGR) of about 4.8%[25]. - The company aims to become a leading global supplier of photoresist dry film within 3 to 5 years, leveraging its technological and cost advantages[26]. Environmental Responsibility - The company has implemented strict environmental protection measures, ensuring that pollution control facilities are designed, constructed, and operated simultaneously with production facilities[67]. - The company’s subsidiary, Suzhou Foster, reported emissions of 0.2448 tons of particulate matter and 5.78 tons of nitrogen oxides during the first half of 2022[66]. - The company emphasizes its role in ecological protection and pollution prevention through its green industry initiatives[73]. - The company has established an emergency response plan for environmental incidents, which includes regular drills and compliance with legal requirements[69]. Strategic Initiatives - The company is focusing on talent acquisition and development to support its rapid business expansion and project progress[57]. - The company plans to issue convertible bonds with a total amount not exceeding 1 billion RMB, with the aim to enhance its capital structure and support future growth initiatives[60]. - The company is currently undertaking multiple material expansion and new construction projects, with a focus on controlling project costs and adapting to market changes[56]. - The company plans to accelerate the mass production of other products such as aluminum-plastic composite films and FCCL to create new profit growth points[26]. Shareholder and Governance - The company did not propose any profit distribution or capital reserve transfer plan for the first half of 2022[62]. - The employee stock ownership plan raised a total of 100 million RMB, with 50% sourced from the company's 2019 audited net profit, amounting to 5.22% of that profit[63]. - The company held one annual and one temporary shareholders' meeting during the reporting period, with no resolutions rejected or changed[60]. - The company has not reported any shareholding changes among directors, supervisors, and senior management during the reporting period[106].