Libert(SH:605167)2022-08-22 16:00Financial Performance - The company's operating revenue for the first half of 2022 was ¥593,167,499.55, a decrease of 28.81% compared to ¥833,220,907.46 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2022 was ¥34,863,018.78, representing a 4.81% increase from ¥33,263,488.55 in the previous year[20]. - The net cash flow from operating activities increased significantly by 222.53%, reaching ¥135,957,683.63 compared to ¥42,153,937.09 in the same period last year[20]. - The total assets at the end of the reporting period were ¥2,229,661,712.78, a 1.44% increase from ¥2,197,905,443.59 at the end of the previous year[20]. - The net assets attributable to shareholders increased by 2.59%, amounting to ¥1,380,902,383.11 compared to ¥1,346,039,364.33 at the end of the previous year[20]. - Basic earnings per share for the first half of 2022 were ¥0.08, down 20.00% from ¥0.10 in the same period last year[21]. - The weighted average return on equity decreased by 1.5 percentage points to 2.56% from 4.06% in the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥30,501,324.87, a 1.70% increase from ¥29,990,213.75 in the previous year[20]. - The gross margin improved by 3.26 percentage points due to enhanced project settlement and cost control efforts[49]. Assets and Liabilities - The total non-recurring gains and losses amounted to 4,361,693.91 after tax adjustments[25]. - Cash and cash equivalents decreased by 29.50% to ¥329,594,544.45, representing 14.78% of total assets[53]. - Accounts receivable decreased by 53.77% to ¥192,300,112.05, attributed to improved collection methods during the period[53]. - Contract liabilities increased significantly by 502.42% to ¥257,734,952.77, indicating a rise in advance project payments[53]. - Short-term borrowings were eliminated, reflecting a 100% decrease as the company repaid loans due to increased liquidity[53]. - Inventory increased by 44.13% to ¥151,569,339.52, primarily due to stockpiling for new projects[53]. - The company reported a 127.41% increase in long-term borrowings to ¥62,166,517.95, driven by new loans for construction projects[53]. - The company’s prepayments surged by 866.48% to ¥130,190,224.65, reflecting increased upfront payments for materials and equipment for new projects[53]. Business Operations and Strategy - The company specializes in the design and manufacturing of industrial modules, providing integrated services across the entire EPFC (Engineering, Procurement, Fabrication, Construction) value chain[26]. - The company has a strong capability in project management and has established a complete procurement system to meet diverse client needs[27]. - The main products include process modules, corridor modules, and prefabricated pipes, widely used in the chemical, oil and gas, mining, and water treatment industries[28]. - The company aims to expand its market presence through continuous innovation and strategic partnerships[26]. - Future outlook includes leveraging government subsidies and enhancing operational efficiency to drive growth[25]. - The company has developed advanced design and manufacturing technologies for industrial modules, enhancing its competitive edge in the market[28]. - The company provides a full range of engineering services, including project planning, feasibility studies, cost analysis, design, procurement, construction, and maintenance[30]. Environmental and Safety Management - The company is actively involved in environmental protection and safety management, adhering to strict regulations to mitigate risks associated with pollution and safety incidents[64]. - The company has implemented a comprehensive environmental protection management system, adhering to national and local environmental laws and standards, and has passed the ISO 14001:2015 environmental management system certification[79]. - The company has adopted measures to reduce carbon emissions, including implementing energy-saving targets and promoting clean energy initiatives[82]. - The company has established a pollution prevention facility that operates normally, in compliance with environmental impact assessment requirements[74]. - The company has taken measures to manage solid waste, including recycling metal scraps and proper disposal of hazardous waste[80]. Shareholder and Governance - The company has a total of 183,454,670 restricted shares held by Shanghai Libote Investment Co., Ltd., which will become tradable on July 26, 2024[124]. - The second largest shareholder, Zhen Shi Group (Hong Kong), holds 76,727,336 restricted shares, which will be tradable on July 26, 2022[124]. - The company has a total of 25,594 ordinary shareholders as of the end of the reporting period[117]. - The largest shareholder, Shanghai Libote Investment Co., Ltd., held 40.85% of the shares, totaling 183,454,670 shares[119]. - The company has established a multi-level governance structure including a board of directors, supervisory board, and management team[165]. Compliance and Regulatory Matters - The company will adhere to the regulations set by the China Securities Regulatory Commission regarding the reduction of shares by shareholders and senior management[92]. - The company will ensure that any stock reduction after the lock-up period will not be below the issue price[93]. - The company will publicly explain the reasons for any failure to stabilize stock prices and apologize to shareholders and the public[94]. - The company has not reported any violations or penalties against its directors, supervisors, or senior management during the reporting period[106]. Market and Industry Trends - The modularization trend in the chemical industry is gaining traction, with significant fixed asset investments and a shift towards modular construction for large chemical projects[37]. - The market demand for modular design and manufacturing is expected to grow in sectors like oil and gas, mining, and water treatment, providing ample opportunities for the company[37]. - The water treatment industry is increasingly adopting modular designs to reduce construction time and operational costs, positioning it as a mainstream trend[38]. Financial Instruments and Accounting - Financial instruments include financial assets, financial liabilities, and equity instruments, recognized when the company becomes a party to a financial instrument contract[186]. - Financial assets are classified based on the business model for managing them and their contractual cash flow characteristics, including those measured at amortized cost and fair value[188]. - The company recognizes the difference between the disposal proceeds and the carrying amount of the equity investment as capital reserve in the consolidated financial statements[182].