XYT(SZ:002087)2021-08-27 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥2,516,228,698.98, representing a 4.29% increase compared to ¥2,412,815,480.25 in the same period last year[17]. - The net profit attributable to shareholders was ¥64,504,432.00, a decrease of 43.79% from ¥114,759,245.10 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was ¥58,897,852.75, down 40.87% from ¥99,613,821.00 year-on-year[17]. - Basic earnings per share decreased by 43.77% to ¥0.0790 from ¥0.1405 in the previous year[17]. - The company's revenue for the current period is ¥2,516,228,698.98, representing a year-over-year increase of 4.29% compared to ¥2,412,815,480.25 in the same period last year[34]. - The cost of goods sold increased by 8.71% to ¥2,224,204,813.69 from ¥2,045,931,834.27, resulting in a gross margin decrease of 3.60%[38]. - The company reported a decrease in income tax expenses by 35.56%, amounting to ¥11,782,690.11, due to a decline in profits[34]. - Yarn sales accounted for 63.32% of total revenue, generating ¥1,593,264,903.36, with a year-over-year growth of 3.55%[36]. - The revenue from grey fabric and textiles surged by 35.33% to ¥753,751,283.83, increasing its share of total revenue to 29.96%[37]. - Domestic sales contributed 97.14% of total revenue, amounting to ¥2,444,147,773.90, reflecting a growth of 5.93% year-over-year[37]. Cash Flow and Liquidity - The net cash flow from operating activities increased significantly by 156.56%, reaching ¥1,004,245,418.90 compared to ¥391,420,064.74 in the same period last year[17]. - The net cash increase in cash and cash equivalents was -¥49,756,656.59, an improvement from -¥229,332,576.47 in the previous year[34]. - Cash and cash equivalents at the end of the reporting period amounted to ¥858,277,984.3, representing 9.14% of total assets, an increase of 0.68% compared to the previous year[47]. - The company experienced a net cash outflow from financing activities of ¥1,001,487,753.50 in the first half of 2021, compared to a net outflow of ¥436,942,535.22 in the same period of 2020[147]. - The net cash flow from financing activities was negative at CNY -415,823,548.00, worsening from CNY -251,983,554.54 in the previous year, indicating a decline of about 65%[150]. - The company's operating cash flow remains positive, suggesting operational stability despite challenges in investment and financing activities[150]. Assets and Liabilities - Total assets at the end of the reporting period were ¥9,385,479,197.35, a decrease of 7.84% from ¥10,183,876,727.24 at the end of the previous year[17]. - Total liabilities decreased to ¥4,981,315,105.48 from ¥5,826,550,339.83[130]. - The asset-liability ratio decreased to 53.07% from 57.21%, a reduction of 4.14%[122]. - The total liabilities of the company at the end of the current period are 33,366 million yuan[155]. Investment and R&D - The total investment during the reporting period was ¥53,886,482.25, a significant decrease of 70.92% compared to the previous year's investment of ¥185,281,993.65[52]. - The company continues to invest in research and development, with R&D expenses reported at CNY 58,745,549.20, slightly down from CNY 58,781,637.12 in the previous year[136]. - The company emphasizes innovation and has established partnerships with research institutions to enhance its R&D capabilities[29]. Market Position and Operations - The company is a leading manufacturer in the high-end cotton textile sector, producing yarn and fabric products, with a strong technological and brand advantage[25]. - The company operates a direct procurement model for raw cotton, ensuring stable supply and reduced procurement costs through strategic purchasing[26]. - The company has established 29 sales offices across major textile markets in China to enhance market development and customer feedback[26]. - The company ranks 9th in the 2020 China Cotton Textile Industry Revenue Top 100 list, indicating strong market position and economic performance[28]. - The company has a complete industrial chain covering cotton procurement, spinning, weaving, and dyeing, which enhances operational stability and cost advantages[32]. Environmental and Social Responsibility - The company has a wastewater treatment plant with a processing capacity of 6,000 tons per day, which operates normally and meets the GB4287-2012 discharge standards[69]. - The company has established a pollution prevention facility with a daily treatment capacity of 1,000 tons for its old plant, which is also functioning properly[68]. - The company has signed agreements for the comprehensive utilization of boiler ash and desulfurization gypsum with construction and cement plants[69]. - The company has actively fulfilled its social responsibilities, ensuring no abnormal situations occurred during the pandemic, and quickly resumed production[76]. Governance and Compliance - The company has established a comprehensive governance structure, including a board of directors with four specialized committees to ensure effective operation and protection of shareholder rights[77]. - There were no significant legal disputes or administrative penalties reported during the reporting period[86]. - The company has not engaged in any related party transactions or non-operating fund occupation during the reporting period[82]. Shareholder Information - The total number of shares is 816,794,300, with 99.86% being unrestricted shares[105]. - The largest shareholder, Xinye County Finance Bureau, holds 27.30% of the shares, totaling 222,960,192 shares[107]. - The company has not experienced any changes in shareholding structure during the reporting period[105]. Accounting Policies - The financial statements are prepared based on the assumption of going concern, with no issues affecting the company's ability to continue operations in the next twelve months[166]. - The company follows specific accounting policies for bad debt provisions, fixed asset depreciation, intangible asset amortization, and revenue recognition[167]. - The company recognizes financial liabilities at fair value, with changes in fair value impacting current profits or losses[186].