长鸿高科(605008) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥775,167,833.85, representing a 36.36% increase compared to ¥568,487,580.01 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was ¥83,640,512.12, which is a 6.06% increase from ¥78,860,069.12 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 16.49%, amounting to ¥80,201,610.77 compared to ¥96,043,891.34 in the same period last year[22]. - Basic earnings per share for the reporting period (1-6 months) decreased by 5.26% to CNY 0.18 compared to the same period last year[23]. - Diluted earnings per share for the reporting period also decreased by 5.26% to CNY 0.18 compared to the same period last year[23]. - The weighted average return on equity dropped by 2.84 percentage points to 4.71% compared to the same period last year[23]. - The company achieved a total revenue of 775 million yuan in the first half of 2021, representing a year-on-year growth of 36.36%, with main business revenue of 609 million yuan, up 8.28% year-on-year[48]. - The company reported a net cash outflow from investment activities of ¥419,334,163.33, which is a substantial increase from ¥-55,969,846.29 last year, mainly due to prepayments for the Longhong Biological PBAT project[56]. - Financing activities generated a net cash inflow of ¥219,848,892.92, up 61.91% from ¥135,784,632.33 in the previous year, attributed to loans for working capital[56]. Assets and Liabilities - The total assets of the company increased by 17.69%, reaching ¥2,685,316,072.17 compared to ¥2,281,624,358.95 at the end of the previous year[22]. - The company's total assets at the end of the reporting period included cash and cash equivalents of ¥297,584,879.64, down 29.74% from ¥423,556,734.15 last year[59]. - Accounts receivable increased by 23.31% to ¥230,061,910.36 from ¥186,572,575.28, due to extended credit terms for key customers[59]. - The company's fixed assets decreased by 4.47% to ¥731,066,459.91 from ¥765,268,149.16, reflecting ongoing investments in new projects[63]. - Current liabilities rose to ¥683,995,932.23 from ¥415,141,196.07, reflecting a significant increase of approximately 64.5%[184]. - Total liabilities increased to ¥745,821,210.40 from ¥509,959,047.25, reflecting a significant rise in financial obligations[194]. Research and Development - The company is focused on the research and development of thermoplastic elastomers (TPE) and has achieved significant results in hydrogenated TPE technologies such as SEBS and SEPS[31]. - The company has established a unique R&D advantage in the TPES field, particularly with SEBS hydrogenation technology reaching an advanced level in the industry[39]. - The company is leveraging its collaboration with the Chinese Academy of Sciences to gain exclusive rights to patents, enhancing its R&D capabilities in the PBAT industry[40]. - Research and development expenses for the first half of 2021 were ¥20,712,461.53, down from ¥23,717,594.91 in the previous year, showing a 12.6% decrease[194]. Environmental Compliance - The company was listed as a key pollutant discharge unit by the Ningbo Ecological Environment Bureau in 2021, with major pollutants including wastewater, waste gas, noise, and solid waste[92]. - In 2021, the company's wastewater monitoring results showed that the chemical oxygen demand was 34 mg/L, well below the standard limit of 320 mg/L, with no instances of exceeding discharge limits[92]. - The company has achieved 100% compliance in hazardous waste disposal, with a total of 32.6 tons of hazardous waste processed during the reporting period[96]. - The company installed an online monitoring system for wastewater discharge, which has been connected to the local ecological environment bureau, with no exceedances reported in the first half of 2021[92]. - The company is currently constructing a project that received environmental impact assessment approval in October 2020, indicating ongoing compliance with environmental regulations[99]. Shareholder Commitments - The company has committed to strict adherence to regulations regarding shareholding and stock transfer, ensuring transparency and compliance in its operations[106]. - The company guarantees that it and its actual controllers will not engage in any business that competes with its main operations, ensuring no conflicts of interest[112]. - The company will strictly adhere to the regulations regarding related party transactions, ensuring fair pricing and compliance with legal procedures[115]. - The company confirmed that its prospectus for the initial public offering does not contain false records, misleading statements, or significant omissions, and it assumes individual and joint legal responsibility for its authenticity, accuracy, and completeness[118]. - The company will bear legal liability for any losses caused to investors due to non-fulfillment of commitments made in the prospectus[126]. Market and Competition - The domestic market for biodegradable plastics is expected to grow significantly, with demand projected to exceed 2 million tons by 2025, indicating a strong market opportunity for the PBAT project[54]. - The TPES market faces increasing competition, with new entrants and technological advancements potentially affecting profitability and market share[79]. - The company is exposed to safety risks due to the hazardous nature of its main raw materials, which could impact normal operations despite existing safety measures[80]. Production and Capacity - The company plans to expand its production capacity to 290,000 tons per year after the completion of the current fundraising project, enhancing its scale advantage[46]. - The PBAT project is set to have a planned capacity of 600,000 tons per year, ranking among the top in the country[46]. - The first phase of the 600,000 tons/year fully biodegradable thermoplastic plastic industrial park project is nearing completion, with an expected completion date in mid-September 2021[54]. - The production of SBS and SEBS products reached 61,700 tons in the first half of 2021, an increase of 2.42% compared to 60,300 tons in the same period last year[49].