Polyrocks(SH:688669)2022-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2022 reached ¥2,119,514,417.97, representing a 73.02% increase compared to ¥1,225,029,971.19 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was ¥58,240,350.05, an increase of 8.09% from ¥53,880,494.64 in the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥55,418,450.26, up 10.59% from ¥50,111,610.65 in the same period last year[17]. - The total assets at the end of the reporting period were ¥3,986,172,925.31, an increase of 11.17% from ¥3,585,725,162.43 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company were ¥1,543,627,468.18, reflecting a 3.14% increase from ¥1,496,562,445.95 at the end of the previous year[17]. - The report period covers January 1, 2022, to June 30, 2022, providing a comprehensive overview of the company's performance during this timeframe[10]. - Revenue increased by 73.02% year-on-year, primarily driven by growth in phosphate chemicals, liquefied petroleum gas processing, and modified plastic products[20]. - Net profit attributable to shareholders grew by 8.09% year-on-year, mainly due to the acquisition of Longhua Chemical and Guanzhen Technology, as well as foreign exchange gains from sales settled in USD[20]. - Basic and diluted earnings per share increased to CNY 0.62, reflecting a 3.33% rise compared to the same period last year[19]. - The weighted average return on equity decreased to 3.83%, down by 0.24 percentage points year-on-year[19]. Cash Flow and Assets - The net cash flow from operating activities was -¥126,295,954.04, compared to -¥118,768,346.44 in the previous year, indicating a decline[17]. - Cash and cash equivalents at the end of the period amounted to ¥485,953,977.16, representing 12.19% of total assets, an increase of 3.75% compared to the previous year[88]. - Accounts receivable reached ¥824,597,026.14, accounting for 20.69% of total assets, with a year-on-year increase of 12.87%[88]. - Inventory increased significantly to ¥631,172,472.02, making up 15.83% of total assets, reflecting a 38.06% growth due to rapid business expansion[88]. - Total liabilities reached ¥2,264,446,283.98, up from ¥1,913,882,900.12, indicating an increase of around 18.3%[189]. - Owner's equity totaled ¥1,721,726,641.33, compared to ¥1,671,842,262.31, showing a growth of about 2.99%[189]. Research and Development - The total R&D expenditure for the first half of 2022 was ¥55,176,359.14, representing a 15.18% increase compared to ¥47,902,718.14 in the same period last year[55]. - R&D expenditure as a percentage of operating income decreased from 3.91% to 2.60%, a reduction of 1.31 percentage points[56]. - The company obtained 16 new domestic invention patents and 1 overseas invention patent during the reporting period, bringing the total number of invention patents to 136[53]. - The company has established a research institute to support laboratory research and industrialization, focusing on strategic technology areas[67]. - The company aims to enhance its market competitiveness through continuous R&D investment and product innovation[66]. Market and Product Development - The company’s main business includes phosphate chemicals and modified plastic particles, classified under the rubber and plastic products industry[26]. - The company is developing a rental business for circular packaging boxes and scaffolding, enhancing its service offerings in logistics and construction[40]. - The company has established a core technology system covering the "phosphorus chemical - modified plastic particles - plastic products" integrated industrial chain, with all core technologies being self-developed[47]. - The company has improved production efficiency by over 30% by adopting a one-step method for synthesizing triazine organic compounds, replacing the traditional multi-step method[49]. - The company has developed halogen-free flame retardants with enhanced thermal stability and compatibility, suitable for various applications including microwaves and washing machines[49]. Environmental and Regulatory Compliance - The company was recognized as a key pollutant discharge unit by the Chizhou Ecological Environment Bureau in April 2022, with major pollutants including waste gas, wastewater, solid waste, and noise[108]. - The company’s waste gas treatment system includes a water absorption unit and two-stage electrostatic mist removal, ensuring compliance with local air pollution discharge standards[111]. - The wastewater treatment system meets the national discharge standards, with all wastewater processed before being released[111]. - The company strictly adheres to solid waste management regulations, entrusting qualified disposal units for hazardous waste treatment[111]. - Jushi Chemical was fined RMB 180,000 for exceeding the total phosphorus discharge limit by 3.87 times[117]. Shareholder and Governance Matters - The company reported a 36-month lock-up period for major shareholders, during which they cannot transfer or manage their shares[128]. - Major shareholders are restricted from transferring their shares for 12 months following the company's listing on the Shanghai Stock Exchange[129]. - The company has established a clear framework for managing share transfers and lock-up periods for its directors and senior management[129]. - The company is committed to adhering to the rules set forth by the Shanghai Stock Exchange regarding shareholder and management share transfers[129]. - The company has committed to a more robust and transparent profit distribution policy, ensuring shareholder returns post-IPO[138].