JCF(SZ:000420)2020-07-24 16:00Financial Performance - The company's operating revenue for the first half of 2020 was ¥1,013,270,792.30, a decrease of 23.08% compared to the same period last year[23]. - The net profit attributable to shareholders of the listed company was -¥81,422,028.94, representing a decline of 215.07% year-on-year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥83,672,473.19, a decrease of 219.72% compared to the previous year[23]. - The net cash flow from operating activities was -¥106,193,692.23, down 423.47% from the same period last year[23]. - The basic earnings per share for the reporting period was -¥0.0413, a decline of 215.04% year-on-year[23]. - The net profit for the same period was CNY -8,142,200.00, representing a decline of 215.07% compared to the previous year[40]. - The company reported a net profit of -87,457,280.84 CNY for the first half of 2020, compared to a net profit of 59,007,467.30 CNY in the same period of 2019, indicating a significant decline[165]. - Operating profit for the first half of 2020 was -90,927,605.61 CNY, a decrease from the operating profit of 58,623,275.29 CNY in the previous year[165]. - The company reported a total comprehensive income of -87,457,280.84 CNY for the first half of 2020, compared to 59,007,467.30 CNY in the same period of 2019[165]. Revenue and Sales - In the first half of 2020, the company achieved operating revenue of CNY 1,013,270,792.30, a decrease of 23.08% year-on-year[40]. - Total revenue from sales of goods and services was 671,832,121.77 CNY, down from 758,220,360.77 CNY in the first half of 2019, reflecting a decline of approximately 11.4%[166]. - Domestic sales accounted for 60.86% of total revenue, while international sales made up 39.14%, with both segments experiencing declines of 25.18% and 19.56% respectively[44]. Assets and Liabilities - The total assets at the end of the reporting period were ¥8,906,662,250.01, an increase of 5.05% compared to the end of the previous year[23]. - The total liabilities increased to CNY 5,816,041,020.75 in the first half of 2020, up from CNY 5,361,258,196.64 in the previous year, representing a growth of 8.5%[149]. - The total equity decreased to CNY 3,007,123,642.23 in the first half of 2020 from CNY 3,094,580,923.07 in the same period last year, a decline of 2.8%[149]. - Total liabilities increased to ¥5,965,021,284.56 from ¥5,459,206,065.84, reflecting a growth of approximately 9.25%[140]. Cash Flow - Cash flow from financing activities increased by 622.63% to CNY 202,430,380.68 due to reduced loan repayments[44]. - The company experienced a net cash outflow from operating activities of -106,193,692.23 CNY, compared to a net cash inflow of 32,829,944.35 CNY in the same period last year[169]. - The total cash inflow from financing activities was 1,587,870,829.00 CNY, up from 1,250,143,851.07 CNY in the previous year, reflecting a growth of about 27%[171]. Research and Development - The company focused on enhancing its core product, viscose filament, to improve technical, quality, and capacity advantages[40]. - The company has a stable and strong R&D team with over 50 years of industry experience, supporting continuous product and process innovation[35]. - Research and development expenses for the first half of 2020 were CNY 2,772,618.41, slightly down from CNY 3,053,092.36 in the first half of 2019, indicating a decrease of 9.2%[153]. Environmental Management - The company is committed to environmental management, having established a comprehensive environmental management system in response to national regulations[40]. - The company achieved a total discharge of 960 tons for chemical oxygen demand, which is within the approved discharge limit of 1161 tons[90]. - The ammonia nitrogen discharge was 150 tons, also within the approved limit of 179 tons[90]. - The company conducts regular environmental monitoring through qualified third-party agencies to ensure compliance with national and local environmental regulations[91]. Shareholder Information - The total number of shares outstanding is 1,970,706,656, with 93.90% being unrestricted shares[101]. - The largest shareholder, Shanghai Fangda Investment Management Co., Ltd., holds 16.25% of the shares, while the state-owned Jilin Chemical Fiber Group holds 16.14%[105]. - The company has a total of 82,801 shareholders, with 10 holding more than 5% of the shares[105]. Future Plans - The company plans to expand its viscose filament product line globally and develop other high-end fiber products[35]. - The company aims to leverage its state-owned asset integration platform to extend into pharmaceuticals and fine chemicals, enhancing its market influence[35]. - The company is focusing on diversifying its operations and developing promising chemical products to mitigate the impact of cyclical fluctuations in the viscose fiber industry[56].