DEHUA TB(SZ:002043)2021-08-17 16:00Financial Performance - The company's operating revenue for the first half of 2021 reached ¥3,829,686,795.81, representing a 95.16% increase compared to ¥1,962,290,259.19 in the same period last year[23]. - Net profit attributable to shareholders was ¥313,723,875.86, a significant increase of 632.65% from ¥42,820,518.79 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was ¥243,797,982.57, up 157.45% from ¥94,696,762.82 in the same period last year[23]. - The basic earnings per share increased to ¥0.42, a 600.00% rise from ¥0.06 in the previous year[23]. - The weighted average return on net assets was 15.92%, an increase of 13.32% compared to 2.60% in the same period last year[23]. - Total assets at the end of the reporting period were ¥5,482,307,952.70, reflecting a 3.84% increase from ¥5,279,564,958.61 at the end of the previous year[23]. - The net assets attributable to shareholders decreased by 6.06% to ¥1,747,844,311.50 from ¥1,860,605,612.44 at the end of the previous year[23]. - The net cash flow from operating activities was ¥174,487,782.53, a 218.67% increase from a negative cash flow of -¥147,040,117.16 in the same period last year[23]. Revenue Segmentation - The decorative materials segment generated 2.90 billion CNY in revenue, up 103.92%, with board product revenue at 2.04 billion CNY, growing by 86.56%[33]. - The finished home products segment reported revenue of 854 million CNY, reflecting a growth of 73.49%[36]. - The total revenue from the decorative materials business was ¥2,902,171,525.06, marking a 103.92% increase year-on-year[54]. - Domestic business accounted for 97.17% of total revenue, while international sales contributed 2.83%[54]. Business Expansion and Strategy - The company opened 149 new decorative materials specialty stores, bringing the total to 2,318 stores, including 690 easy-install specialty stores[36]. - The company is focusing on expanding its high-end furniture board production capacity and has initiated the development of 13 new product projects, including anti-mold and flame-retardant boards[35]. - The company has established nine regional subsidiaries to enhance its marketing network and optimize product distribution channels[34]. - The company plans to enhance its retail and engineering dual-drive strategy, aiming to strengthen its brand presence in the East China region[36]. - The company plans to continue expanding its retail and engineering business layout, focusing on strategic partnerships and channel development[56]. - The company plans to expand its business into the B-end market, targeting home decoration companies and custom furniture firms, while maintaining its C-end retail operations[76]. Research and Development - R&D investment grew by 51.68% to ¥29,558,811.43, reflecting increased project activities and related expenses[52]. - The company holds 433 patent applications, including 215 invention patents, demonstrating its strong R&D capabilities[49]. - The company emphasizes technological innovation and has increased R&D investment to maintain a leading position in the industry[106]. Environmental Compliance - The company adheres to various environmental protection laws and standards, including the Air Pollution Prevention Law and the Water Pollution Prevention Law[88]. - The total wastewater discharge is controlled within the permitted range, with COD and ammonia nitrogen emissions at 0.8 tons/year and 0.2 tons/year respectively[89]. - The company has 14 emission outlets for air pollutants, with total emissions controlled within the permitted limits[89]. - The company has established a waste disposal system, entrusting qualified third parties for hazardous waste treatment[89]. - The company’s VOC emissions are below the standards, with total emissions of 0.012 tons/year for organized VOCs and 0.007 tons/year for unorganized VOCs[99]. - The company has a comprehensive waste management strategy, ensuring that all wood waste and living garbage are properly collected and utilized[99]. - The company’s wastewater is treated at its own facility before being sent to municipal treatment plants[99]. - The company has committed to maintaining compliance with environmental standards and regulations to minimize its ecological footprint[88]. - The company has an existing wastewater treatment capacity of 310 T/D, ensuring compliance with environmental standards[101]. - The company has implemented strict monitoring of wastewater and air emissions, achieving compliance with relevant standards[101]. - There were no significant environmental incidents or administrative penalties reported during the period[105]. - The company has established emergency response plans for potential environmental incidents, ensuring operational continuity[102]. Risk Management - The company has outlined potential risks and corresponding countermeasures in the report, which investors should pay attention to[5]. - The company faces risks from macroeconomic controls in the real estate sector, which could impact demand for decoration materials and custom furniture[76]. - The company is also exposed to risks from raw material price fluctuations, particularly in the wood product sector, which could affect sales and pricing[76]. Corporate Governance - The company has not engaged in any significant litigation or arbitration matters during the reporting period[115]. - The semi-annual financial report has not been audited[113]. - The company has no non-operational fund occupation by controlling shareholders or related parties during the reporting period[111]. - The company actively participates in social responsibility initiatives and adheres to tax obligations[106]. Related Party Transactions - The company reported a total of 156,400 in trust investments during the reporting period, with a total return of 2,142.23 million[193]. - The total amount of related transactions during the reporting period was 106.62 million yuan, accounting for 2.28% of similar transactions[123]. - The company acquired 102 underground parking spaces for 13.26 million yuan from a subsidiary of its controlling shareholder, Dehua Group[130]. - The company completed the acquisition of 25% equity in Yufeng Hantang for 250 million yuan, increasing its indirect ownership to 95%[130]. - The company has provided guarantees totaling 140 million yuan for its subsidiary, Rabbit Baby Investment Management Company[138]. - The actual guarantee amount for Rabbit Baby Investment Management Company was 56 million yuan, with a guarantee period until November 2024[138]. - The total guarantee amount approved during the reporting period is CNY 179 million, with actual guarantees amounting to CNY 97.77 million[178]. - The total guarantee balance at the end of the reporting period is CNY 71.07 million, representing 40.66% of the company's net assets[184]. Investment and Financial Management - The company has entrusted financial management with a total amount of CNY 788 million, with an outstanding balance of CNY 353 million[185]. - The average return rate for trust products was approximately 3.65% across various investments[193]. - The company has not disclosed any significant contracts or major events during the reporting period[194][196]. - There were no other significant matters that required explanation during the reporting period[196]. - The company has not reported any expected inability to recover principal or other potential impairment situations[192].