SMTC(SH:900927)2021-08-26 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥3,258,804,752.15, a decrease of 2.95% compared to the same period last year[18]. - The net profit attributable to shareholders of the listed company increased by 79.15% to ¥33,684,724.02 from ¥18,802,998.26 in the previous year[18]. - The net profit after deducting non-recurring gains and losses rose by 103.67% to ¥29,430,758.30 compared to ¥14,450,067.62 in the same period last year[18]. - The basic earnings per share for the first half of 2021 was ¥0.0679, up 79.16% from ¥0.0379 in the previous year[19]. - The total operating income decreased by 2.95% to 3,258.80 million RMB, while operating costs fell by 4.46% to 3,078.77 million RMB[38]. - The company achieved a revenue of 325,880.48 million RMB during the reporting period, with a net profit attributable to shareholders of 32.75 million RMB[33]. - The total comprehensive income for the first half of 2021 was approximately ¥34.53 million, compared to ¥19.84 million in the first half of 2020, marking an increase of 74.54%[104]. - The company reported a tax expense of approximately ¥8.87 million for the first half of 2021, compared to ¥4.32 million in the same period of 2020, indicating a rise of 105.56%[103]. Assets and Liabilities - The total assets decreased by 13.69% to ¥1,892,062,090.12 from ¥2,192,205,414.78 at the end of the previous year[18]. - Cash and cash equivalents decreased by 30.34% to ¥619.48 million, primarily due to increased operating expenses[42]. - Accounts receivable decreased by 14.99% to ¥33.97 million, mainly due to the collection of receivables[42]. - Inventory decreased by 32.99% to ¥221.40 million, attributed to a reduction in stock levels[42]. - Long-term equity investments decreased by 4.37% to ¥175.56 million, reflecting losses recognized from investments in associates[45]. - Short-term borrowings increased by 41.57% to ¥207.36 million, resulting from increased bank loans[42]. - The company's total liabilities decreased from ¥1,349,227,625.27 in December 2020 to ¥1,016,484,829.91 by June 30, 2021, indicating a decline of approximately 24.66%[96]. - The owner's equity increased from ¥842,977,789.51 in December 2020 to ¥875,577,260.21 by June 30, 2021, reflecting an increase of about 3.87%[97]. Cash Flow - The net cash flow from operating activities was negative at -¥158,457,352.56, an improvement of 15.37% compared to -¥187,224,640.00 in the previous year[18]. - Total cash inflow from operating activities amounted to 3,790,848,101.83 RMB, while cash outflow was 3,949,305,454.39 RMB, resulting in a net cash outflow of 158,457,352.56 RMB[110]. - The ending balance of cash and cash equivalents was 555,520,752.53 RMB, down from 635,816,669.76 RMB at the beginning of the period[111]. - The company experienced a net decrease in cash and cash equivalents of 54,050,042.82 RMB during the period[114]. Market and Industry Trends - The automotive market saw production and sales complete 12.56 million and 12.89 million units respectively, representing year-on-year growth of 24.2% and 25.6%[27]. - New energy vehicle sales reached 1.215 million units, marking a significant year-on-year growth of 200.6%[27]. - The company expects the chemical industry to continue its recovery trend in the second half of 2021, supported by macroeconomic improvements[27]. - The logistics industry maintained a positive trend, with the warehouse industry index remaining in the prosperity range for most months of the first half of 2021[28]. Corporate Governance and Shareholder Information - The company did not distribute profits or transfer capital reserves to increase share capital for the reporting period[4]. - The company has 39,442 total ordinary shareholders as of the end of the reporting period[85]. - The top shareholder, Bailian Group, holds 48.10% of the shares, totaling 238,575,962 shares[87]. - The company has not proposed any profit distribution or capital reserve transfer plans for the first half of 2021[57]. Environmental and Regulatory Compliance - The company is not listed as a key pollutant discharge unit by the Shanghai Environmental Protection Bureau[60]. - There are no significant changes in the company's environmental protection measures or commitments during the reporting period[61]. - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring compliance and transparency[131]. Accounting Policies and Financial Reporting - The company has implemented specific accounting policies tailored to its operational characteristics, particularly in inventory valuation and asset depreciation[133]. - The company recognizes revenue when control of goods or services is transferred to customers, with specific criteria for different business models such as automotive retail and service contracts[178]. - Financial instruments are recognized when the company becomes a party to the financial contract, with derecognition occurring under specific conditions[144]. - The company applies the expected credit loss model to assess impairment for financial assets measured at amortized cost and debt instruments measured at fair value through other comprehensive income[149].