J.S. Machine(000821)2021-08-25 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,954,715,993.06, representing a 54.15% increase compared to ¥1,268,087,401.35 in the same period last year[27]. - The net profit attributable to shareholders for the first half of 2021 was ¥111,789,837.89, a significant increase of 96.71% from ¥56,829,316.83 in the previous year[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥107,985,176.62, which is an increase of 181.84% compared to ¥38,314,890.61 in the same period last year[27]. - The basic earnings per share for the first half of 2021 was ¥0.21, up 90.91% from ¥0.11 in the same period last year[27]. - The total assets at the end of the reporting period were ¥7,334,550,501.40, reflecting a 17.27% increase from ¥6,254,522,848.84 at the end of the previous year[27]. - The net assets attributable to shareholders at the end of the reporting period were ¥2,976,293,017.59, which is a 27.50% increase from ¥2,334,284,012.87 at the end of the previous year[27]. - The net cash flow from operating activities for the first half of 2021 was -¥50,029,226.49, an improvement of 75.90% compared to -¥207,550,726.38 in the same period last year[27]. - The weighted average return on equity for the first half of 2021 was 4.68%, an increase of 2.21% from 2.47% in the same period last year[27]. Business Segments - The core business of the company focuses on high-end intelligent equipment for the photovoltaic industry, contributing significantly to revenue growth[37]. - The photovoltaic intelligent equipment segment has expanded its product offerings, including automation solutions for photovoltaic modules and battery production lines, enhancing market competitiveness[38]. - The packaging intelligent equipment segment has maintained its leading position in the domestic market, providing comprehensive solutions for corrugated packaging machinery[41]. - The company's revenue from the photovoltaic sector reached ¥999,008,537.64, representing a year-on-year increase of 88.90%[69]. - The packaging sector generated revenue of ¥456,116,047.82, with a year-on-year growth of 63.66%[69]. Market Trends and Opportunities - The global energy transition has created a favorable environment for the photovoltaic industry, with over 130 countries setting carbon neutrality goals, driving demand for renewable energy solutions[44]. - The International Energy Agency (IEA) projects that by 2050, nearly 90% of electricity will come from renewable sources, with solar energy playing a crucial role[46]. - The average Levelized Cost of Electricity (LCOE) for utility-scale solar photovoltaic projects expected to be commissioned in 2022 is projected to drop to $0.04 per kWh, a 30% decrease compared to the global weighted average LCOE in 2020[2]. - The annual average new photovoltaic installation in China during the 14th Five-Year Plan period is estimated to be between 70-90 GW, with a global average of 210-259 GW[1]. - The demand for corrugated packaging is expected to grow due to environmental policies aimed at reducing plastic use, with a nationwide ban on non-degradable plastic packaging expected by 2025[53]. Research and Development - The company continues to invest in research and development to enhance its product offerings and maintain competitive advantages in the market[39]. - Research and development investment increased by 78.07% to ¥84,590,363.51 from ¥47,502,842.30, reflecting the company's commitment to enhancing its technological capabilities[66]. - The company is actively developing new products such as HJT and perovskite tandem batteries, which are expected to become new growth points for performance[51]. - The company has established a partnership with Jinshi Energy to collaborate on heterojunction battery cleaning and automation equipment, indicating a focus on technological innovation[51]. Risk Management - The company has detailed the risks it may face in the report, urging investors to pay attention to these risks[6]. - The company is facing foreign exchange risks due to international sales growth and is enhancing its hedging mechanisms through financial derivatives[104]. - The company has implemented a risk management strategy for derivative investments, focusing on minimizing exchange rate fluctuations and prohibiting speculative behaviors[93]. - The company has established a derivative project risk management committee to monitor market price changes and assess risk exposure regularly[93]. Corporate Governance and Social Responsibility - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[6]. - The annual shareholders meeting had a participation rate of 30.16% on May 20, 2021[110]. - The company donated 500,000 yuan to a local school in Hubei Province as part of its social responsibility efforts in the first half of 2021[119]. - There were no changes in the board of directors, supervisors, or senior management during the reporting period[111]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[118]. Financial Position and Investments - The company reported a net increase in cash and cash equivalents of ¥422,065,292.88, a 269.76% improvement compared to a net decrease of ¥248,621,249.52 in the prior year[66]. - The company has a total of 76 valid invention patents, 611 utility model patents, and 42 design patents as of June 30, 2021, showcasing its robust R&D capabilities[58]. - The company has established strict internal evaluations and regulatory mechanisms for its foreign exchange derivative trading business[101]. - The company reported a loss of ¥152,040.52 from its overseas assets in India, while the Hong Kong subsidiary generated a profit of ¥129,167.41 and the Italian subsidiary a profit of ¥152,870.91[78]. Share Capital and Issuance - The company plans to issue up to 161,470,584 shares, not exceeding 30% of the total share capital before the issuance, to raise a maximum of RMB 60 million for high-end photovoltaic component equipment expansion and core equipment R&D projects[179]. - As of June 3, 2021, the company raised a total of RMB 539,999,997.24 from the non-public offering, with a net amount of RMB 531,077,355.76 after deducting issuance costs[185]. - The issuance price for the new shares was set at RMB 6.38 per share, resulting in a total of 84,639,498 new shares issued[186]. - The total share capital increased from 538,235,280 shares to 622,874,778 shares following the issuance[186]. - The earnings per share (EPS) for 2020 before the issuance was 0.1121, which decreased to 0.0969 after the issuance, indicating a 13.7% decline[195].