NBJF(SH:603997)2021-08-12 16:00Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 1.80 CNY per 10 shares to all shareholders based on the total share capital as of the dividend distribution date[5]. - The company plans to distribute a cash dividend of 1.80 yuan per 10 shares (including tax) for the first half of 2021[89]. Financial Performance - The company's operating revenue for the first half of 2021 was ¥8,724,195,467.36, representing a 30.77% increase compared to ¥6,671,327,464.58 in the same period last year[21]. - The net profit attributable to shareholders was ¥188,834,681.50, a significant recovery from a loss of ¥356,519,728.43 in the previous year[21]. - The basic earnings per share increased to ¥0.18 from a loss of ¥0.35 in the same period last year[21]. - The weighted average return on equity rose to 4.35%, an increase of 12.68 percentage points compared to -8.33% in the previous year[21]. - The company reported a net cash flow from operating activities of -¥124,790,927.28, an improvement of 67.11% from -¥379,403,784.32 in the previous year[21]. - In the first half of 2021, the company achieved operating revenue of 8.724 billion yuan, a year-on-year increase of 30.77%, but a decrease of approximately 4.12% compared to the first half of 2019[54]. - The net profit attributable to the parent company was 189 million yuan, recovering from a loss of 357 million yuan in the first half of 2020, and an increase of 22.64% compared to 154 million yuan in the first half of 2019[54]. - The company's gross profit margin improved by 6.60 percentage points to 16.15% in the first half of 2021, maintaining the same level as in the first half of 2019[56]. - The revenue of the Grammer China division reached approximately 197 million euros, a year-on-year increase of 41.97% and a 35.60% increase compared to 2019[56]. - The company reported a net profit of ¥78.82 million for the first half of 2021, compared to ¥84.07 million in the same period of 2020, showing a decrease of approximately 6.5%[169]. Research and Development - The company has a comprehensive R&D system focused on comfort, safety, and ergonomics, maintaining an international leading position in technology development[35]. - Research and development expenses rose to ¥160,623,694.98, a 29.16% increase from ¥124,360,435.57, reflecting a recovery in R&D activities post-pandemic[60]. - The company is focused on expanding its market presence and enhancing its product offerings through research and development initiatives[81]. - The company emphasizes the importance of technological innovation to meet changing consumer demands and maintain competitive advantages in the automotive parts market[81]. Market Position and Strategy - The company has established relationships with major global automotive manufacturers, including Audi, BMW, and Tesla, providing high-quality products and solutions[33]. - The company is actively upgrading and expanding in-cabin functions to enhance comfort, aligning with the rapid development of electrification and intelligence in the automotive industry[28]. - The company is advancing new business layouts, including the commercial vehicle cockpit project and plans to enter the passenger vehicle seat sector, leveraging new technologies and talent acquired from the Grammer acquisition[57][58]. - The company has a high self-manufacturing rate and relatively low production costs, supported by advanced manufacturing processes and cost management systems[48]. - The company is a technical leader in the commercial vehicle seat system industry, focusing on innovative R&D in intelligent and autonomous vehicle solutions[45]. Financial Health and Assets - The company's total assets reached ¥16,892,000,000, with overseas assets accounting for 73.64% of total assets, amounting to ¥12,441,492,014.71[65][66]. - The company's total assets amounted to ¥16,936,142,929.72, with total liabilities of ¥11,928,016,945.40, resulting in a debt-to-asset ratio of 70.43%[156]. - The company's current assets totaled ¥6,791,187,052.78 as of June 30, 2021, compared to ¥6,699,536,115.73 at the end of 2020, reflecting a slight increase[154]. - The company's equity attributable to shareholders increased to ¥4,663,537,263.72 as of June 30, 2021, compared to ¥4,269,446,036.56 at the end of 2020[157]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, as its products are heavily reliant on the automotive industry, which is sensitive to economic cycles[79]. - Direct material costs account for approximately 70% of production costs, making the company vulnerable to fluctuations in raw material prices[80]. - The company faces market competition risks, particularly in pricing and product quality, which could impact sales if competitors have more capital resources[82]. - Integration risks exist from the 2019 acquisition of Grammer, as differences in operational management may hinder synergy realization[82]. - The company is actively working to mitigate the impact of declining product prices through cost reduction and operational efficiency improvements[80]. Environmental Responsibility - The company has passed the environmental acceptance inspection by the Ningbo Beilun District Environmental Protection Bureau, ensuring compliance with national environmental standards[94]. - The company conducts annual monitoring of wastewater, waste gas, and noise levels, all of which meet national standards, and has obtained a new pollutant discharge permit[95]. - The company has been recognized as a "Green Factory" in Ningbo, highlighting its commitment to environmental protection and pollution reduction through process improvements and material recycling[97]. - The company has implemented measures to reduce waste generation and enhance environmental awareness among employees through training and promotional activities[97]. Corporate Governance - The board of directors confirms that all members attended the meeting and the report is accurate and complete[4]. - The company has not violated decision-making procedures for external guarantees[7]. - The report indicates that there are no non-operating fund occupations by controlling shareholders or related parties[7]. - The company has not disclosed any significant changes in its registered address or office address during the reporting period[17]. - The company has not issued new shares or conducted capital reserve transfers in its profit distribution plan[89]. - The company has no major litigation or arbitration matters during the reporting period[109]. - The company did not have any non-operating fund occupation by controlling shareholders or related parties[108]. - There were no significant related party transactions during the reporting period[111]. Share Capital and Ownership - The total number of shareholders as of the end of the reporting period was 15,760[127]. - The largest shareholder, Ningbo Jihong Holding Group Co., Ltd., held 308,682,897 shares, representing 28.93% of the total shares[130]. - The second-largest shareholder, Dongzheng Rongtong Investment Management Co., Ltd., held 227,404,479 shares, accounting for 21.32%[130]. - The company reported a decrease of 2,369,025 shares in restricted shares, resulting in a total of 238,305,954 restricted shares, which is 22.34% of the total shares[121]. - The total number of shares after the changes is 1,066,819,775[121].