登海种业(002041) - 2021 Q2 - 季度财报

Financial Performance - The company reported a revenue of 1.2 billion CNY for the first half of 2021, representing a year-on-year increase of 15%[24]. - Revenue for the reporting period reached ¥414,329,284.09, an increase of 22.40% compared to ¥338,498,019.91 in the same period last year[31]. - The company anticipates a revenue growth of 10-15% for the full year 2021, driven by increased demand for its products[24]. - The company achieved a revenue of CNY 414.33 million in the first half of 2021, representing a year-on-year growth of 22.40%[52]. - The mother company reported a revenue of CNY 266.16 million, up by 21.94% year-on-year, with a net profit of CNY 131.94 million, reflecting a growth of 56.47%[52]. - Total operating revenue for the first half of 2021 was CNY 414,329,284.09, an increase of 22.4% compared to CNY 338,498,019.91 in the first half of 2020[180]. Profitability - Net profit attributable to shareholders was ¥105,138,776.79, representing an 83.47% increase from ¥57,305,605.95 year-on-year[31]. - Net profit attributable to shareholders reached CNY 105.14 million, marking an impressive increase of 83.47% compared to the previous year[52]. - The basic and diluted earnings per share were both ¥0.1195, an increase of 83.56% compared to ¥0.0651 in the same period last year[31]. - Operating profit for the first half of 2021 reached CNY 88,207,254.98, significantly up from CNY 27,139,653.81 in the same period last year, marking a growth of 225.5%[183]. - The net profit attributable to the parent company for the first half of 2021 was CNY 105,138,776.79, compared to CNY 57,305,605.95 in the first half of 2020, reflecting an increase of 83.5%[183]. Research and Development - The company plans to invest 200 million CNY in R&D for new seed varieties and technologies in 2021[24]. - The company’s R&D investment reached CNY 29.55 million, a decrease of 9.41% compared to the previous year[55]. - The company has established partnerships with two agricultural research institutions to enhance its breeding technology[24]. - The company has obtained a total of 147 authorized plant variety rights, with 129 still valid as of June 30, 2021[49]. - The company holds 16 patents, including 9 invention patents and 7 utility model patents, with a new invention patent for a corn seeder awarded in May 2021[48]. Assets and Liabilities - The total assets of the company reached 3.5 billion CNY, an increase of 10% compared to the end of 2020[24]. - Total assets at the end of the reporting period were ¥3,680,968,183.77, a decrease of 2.12% from ¥3,760,508,569.11 at the end of the previous year[31]. - The company's total liabilities decreased from ¥625,460,555.36 to ¥489,346,000.73, a decline of around 21.78%[167]. - Cash and cash equivalents increased by 77.20% from the beginning of the period, primarily due to the conversion of maturing financial products into fixed deposits[62]. - The total investment during the reporting period was ¥7,941,308.46, representing a 218.14% increase compared to ¥2,496,194.61 in the same period last year[73]. Market Strategy - The company aims to expand its market presence in Southeast Asia, targeting a 20% increase in export sales by the end of 2022[24]. - The company is actively adapting its marketing model to cater to new customer groups such as large-scale farmers and agricultural cooperatives[48]. - The company is focusing on developing competitive corn varieties in key production areas to strengthen its market position[88]. - The company has established stable seed production and processing bases in Xinjiang, Gansu, Ningxia, and Shandong, with 8 modern seed processing systems[51]. Challenges and Risks - The company is facing risks related to natural disasters and market competition, which could impact production and sales[6]. - The company has faced challenges from high competition and product homogeneity in the seed market, impacting profit growth[48]. - The company plans to enhance marketing services and improve seed quality management to mitigate risks associated with new variety promotions[84]. Cash Flow - The company reported a net cash flow from operating activities of -¥29,239,559.74, a decline of 115.99% compared to -¥13,537,732.20 in the same period last year[31]. - Cash inflow from operating activities was ¥247,001,864.45, compared to ¥218,232,003.41 in the previous year, indicating an increase of about 13.2%[199]. - Cash outflow from operating activities totaled ¥276,241,424.19, up from ¥231,769,735.61, resulting in a net cash flow from operating activities of -¥29,239,559.74, worsening from -¥13,537,732.20[199]. Corporate Governance - The company has not engaged in any significant asset or equity sales during the reporting period[79][80]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[95]. - The company has not engaged in any major related party transactions during the reporting period[110]. - The company has not incurred any non-operating fund occupation by controlling shareholders or related parties[103].