Heli Technology(SH:603917)2021-08-26 16:00Financial Performance - The company's operating revenue for the first half of 2021 was RMB 351,518,252.70, representing a 7.94% increase compared to RMB 325,672,430.12 in the same period last year[18]. - The net profit attributable to shareholders of the listed company decreased by 16.59% to RMB 37,289,796.41 from RMB 44,708,859.73 in the previous year[18]. - The basic earnings per share for the first half of 2021 was RMB 0.2378, down 16.59% from RMB 0.2851 in the same period last year[19]. - The net profit after deducting non-recurring gains and losses was RMB 27,068,745.72, a decrease of 19.34% compared to the previous year[18]. - The company reported a total profit of 10,221,050.69, with a significant loss from income tax amounting to -1,344,701.33[22]. - The company achieved operating revenue of 351.52 million yuan, representing a year-on-year growth of 7.94%[52]. - The net profit attributable to shareholders decreased by 16.59% to 37.29 million yuan[52]. - The company reported a significant increase in short-term borrowings, which rose by 119.84% to ¥55,107,452.23, indicating increased leverage[59]. - The company reported a total comprehensive income of 32,625,459.44 RMB for the current period[152]. Assets and Liabilities - The company's total assets as of June 30, 2021, were RMB 1,465,466,140.00, a decrease of 2.88% from RMB 1,508,960,570.88 at the end of the previous year[18]. - The company's total equity attributable to shareholders decreased by 7.53% to RMB 1,005,134,591.49 from RMB 1,086,998,284.57 at the end of the previous year[18]. - Total liabilities increased to CNY 460,331,548.51, up from CNY 421,962,286.31, reflecting a growth of about 9.1%[123]. - Current liabilities totaled CNY 365,818,543.58, compared to CNY 336,984,954.11, indicating an increase of approximately 8.5%[123]. - The total owner's equity at the end of the reporting period is 980,474,748.27 RMB, showing a decrease of 35,042,863.76 RMB compared to the previous period[153]. Cash Flow - The cash flow from operating activities increased by 28.25% to RMB 59,125,582.28 compared to RMB 46,100,759.28 in the same period last year[18]. - The company reported a net increase in cash and cash equivalents of ¥28,097,924.25 for the first half of 2021, compared to a decrease of ¥22,545,152.88 in the same period of 2020[139]. - The total cash outflow from operating activities was CNY 284,345,270.89, compared to CNY 225,925,135.97 in the previous year, reflecting an increase of 25.8%[135]. - The company's cash and cash equivalents as of June 30, 2021, amounted to ¥86,245,246.11, an increase from ¥55,815,782.55 at the end of 2020, representing a growth of 54.5%[121]. Market Position and Operations - The company specializes in the manufacturing of automotive casting molds, hot stamping molds, aluminum alloy components, and automotive brake systems[26]. - The company has developed over 200 high-end casting and hot stamping mold products, showcasing strong R&D capabilities[40]. - The automotive lightweighting trend is driving demand for aluminum alloy components, with a projected 25% market share for new energy vehicles by 2025 in China[39]. - The company employs a "make-to-order" production model, ensuring customized products for clients[30]. - The company has established a "mold project management system" to enhance design efficiency and improve synchronization with client product development[40]. - The company has a strong market position in the specialized equipment manufacturing industry, particularly in mold manufacturing[25]. Risks and Challenges - The company faced increased costs due to rising prices of key raw materials such as aluminum ingots and mold steel, impacting profit margins[20]. - The company is exposed to raw material price volatility risks, particularly for mold steel and aluminum ingots, which could affect production costs and profitability[68]. - The company faces risks related to macroeconomic fluctuations and the cyclical nature of the automotive industry, which could impact sales and profitability[66]. - The company faces risks from exchange rate fluctuations, which could impact its export pricing competitiveness and operating performance if the RMB appreciates against the Euro and USD[71]. Corporate Governance and Compliance - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[78]. - The company is committed to fulfilling its promises regarding the accuracy of its IPO prospectus and will take responsibility for any misleading information[87]. - Major shareholders and actual controllers promise not to reduce their holdings during the lock-up period as per legal requirements[92]. - The company will publicly explain any failure to fulfill commitments in the prospectus and apologize to shareholders and the public[97]. Research and Development - Research and development expenses for the first half of 2021 were ¥16,255,086.84, an increase of 14.9% from ¥14,138,527.51 in the same period of 2020[129]. - The company emphasizes the importance of enhancing its design, research, and innovation capabilities to compete with leading international mold enterprises[69]. Acquisitions and Expansion - The company acquired Ningbo Helit Brake System Co., Ltd., which specializes in manufacturing automotive components, enhancing its business scope and profitability[53]. - The company acquired 100% equity of Helit Group's subsidiary for ¥87,950,000 to expand its business scope and enhance competitiveness[61]. - The company completed the construction of a project to produce 100 sets of large precision die-casting molds and 1.5 million aluminum alloy parts, which has started generating economic benefits[53].