Lily Group(SH:603823)2021-08-25 16:00Financial Performance - The company's operating revenue for the first half of 2021 reached ¥1,237,595,954.37, representing a 36.72% increase compared to ¥905,234,749.47 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥157,131,249.92, a 52.25% increase from ¥103,209,279.04 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was ¥150,460,647.32, up 56.75% from ¥95,984,943.36 in the same period last year[18]. - The net cash flow from operating activities was ¥85,122,871.55, an increase of 14.88% compared to ¥74,099,013.83 in the previous year[18]. - Basic earnings per share for the first half of 2021 were ¥0.50, a 51.52% increase from ¥0.33 in the same period last year[19]. - The weighted average return on net assets increased to 8.53%, up 2.19 percentage points from 6.34% in the previous year[20]. - The diluted earnings per share also stood at ¥0.50, reflecting the same growth rate of 51.52% compared to the previous year[19]. - The company achieved operating revenue of CNY 1,237,595,954.37, a year-on-year increase of 36.72%[36]. - Net profit attributable to the parent company reached CNY 15,713,120, a growth of 52.25% compared to the previous year[36]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 15,046,060, reflecting a 56.75% increase year-on-year[36]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,244,510,674.55, an 8.50% increase from ¥2,990,228,872.41 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company increased by 4.65% to ¥1,859,927,789.50 from ¥1,777,236,673.39 at the end of the previous year[18]. - The company's cash and cash equivalents decreased by 5.95% to CNY 410,022,787.18 at the end of the reporting period[44]. - Accounts receivable increased by 25.46% to CNY 987,220,188.19, indicating higher sales volume[44]. - Total liabilities amounted to CNY 1,141,963,242.14, up from CNY 987,171,163.44, reflecting an increase of approximately 15.7%[130]. Research and Development - The company invested in R&D, with expenses amounting to CNY 45,020,967.73, an increase of 30.33% from the previous year[42]. - Research and development expenses for the first half of 2021 were ¥45,020,967.73, compared to ¥34,542,651.35 in the same period of 2020, reflecting a 30.1% increase[136]. - The company has developed 35 authorized invention patents and is actively involved in the formulation of national and industry standards, having led the development of 21 industry standards[30]. Production and Operations - The company commenced production in its 3,000-ton high-performance organic pigment workshop, contributing to significant growth in revenue and net profit[20]. - The company has over 50 pigment production lines and more than 20 intermediate production lines, leading the domestic market share in high-performance organic pigments and certain intermediates[24]. - The company’s production model is based on sales-driven production, ensuring alignment with market demand and production schedules[25]. - The company’s sales model includes direct sales for major clients and a distribution model for other customers, adapting to the diverse needs of different industries[26]. - The company’s high-performance organic pigment project reached approximately 50% production capacity by April, nearing full production status[38]. Environmental Compliance - The company has invested in comprehensive waste treatment facilities and updated them according to the latest national environmental protection policies[32]. - The company has a strong focus on safety and environmental protection, maintaining a leading position in safety facilities and automated safety control systems[32]. - The company has maintained compliance with environmental standards, with no exceedances reported for wastewater and air emissions[72]. - The company has established a comprehensive environmental management system to enhance pollution control measures[70]. - The company continues to prioritize environmental protection and compliance with relevant regulations across its operations[70]. Market and Competition - The company faces risks from intense market competition in the organic pigment industry, with many small enterprises leading to product homogeneity and pricing pressures[55]. - The domestic organic pigment industry is experiencing increased concentration as smaller companies exit the market due to safety, environmental, and competitive pressures[28]. - The total demand for organic pigments globally is around 400,000 tons, with high-performance organic pigments accounting for approximately 80,000 tons[28]. Shareholder and Governance - The company has committed to long-term shareholding, ensuring control over its position in the market[93]. - The company has a lock-up period of 36 months for shares held by major shareholders, during which no transfers or management delegation is allowed[95]. - Major shareholders have pledged to announce any share reductions three trading days in advance[97]. - The company has experienced changes in its board, with new appointments following the resignation of key personnel, indicating potential shifts in governance[66]. Financial Management - The company plans no profit distribution or capital reserve fund transfer for the half-year period[67]. - The company has implemented a restricted stock incentive plan in 2021, with relevant announcements made[68]. - The company confirmed no significant litigation or arbitration matters during the reporting period[103]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[102]. - The company has established measures to compensate for the dilution of immediate returns from the public offering of shares[101]. Future Outlook - The company aims to become a leading one-stop procurement enterprise for pigments globally, focusing on market expansion and product development[36]. - The company plans to continue its market expansion efforts, although specific figures were not disclosed in the report[159]. - Future product development and technological advancements were mentioned as key focus areas for the upcoming periods[159].