YOUNGY(SZ:002192)2020-08-24 16:00Financial Performance - The company's operating revenue for the first half of 2020 was ¥121,432,328.08, a decrease of 11.84% compared to the same period last year[20]. - The net profit attributable to shareholders was ¥2,669,729.75, representing a significant increase of 110.27% from a loss of ¥26,005,849.35 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥693,106.16, up 102.60% from a loss of ¥26,636,716.19 in the same period last year[20]. - The net cash flow from operating activities improved to -¥18,276,856.62, a 60.20% reduction in loss compared to -¥45,926,171.42 in the previous year[20]. - Basic and diluted earnings per share were both ¥0.0103, a turnaround from -¥0.1002 in the same period last year, marking an increase of 110.28%[20]. - The total profit amounted to -¥5,513,533.86, an increase of 81.96% year-on-year, while net profit was -¥391,553.33, up 98.52% year-on-year[46]. - The company achieved total revenue of ¥121,432,328.08, a year-on-year decrease of 11.84% due to reduced income from the lithium battery equipment business[46]. - The company reported a net loss of CNY 346,920,883.86, compared to a loss of CNY 349,590,613.61 in the previous period[184]. - The net profit for the first half of 2020 was CNY -391,553.33, compared to a net loss of CNY -26,385,171.49 in the same period of 2019, showing significant improvement[194]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥997,604,193.81, an increase of 23.12% from ¥810,300,312.85 at the end of the previous year[20]. - The total assets of the company increased by 23.12% year-on-year to ¥997,604,193.81, while net assets attributable to shareholders rose by 0.57% to ¥549,871,115.04[42]. - Total liabilities increased to CNY 406,269,886.29 from CNY 219,017,313.26, marking an increase of around 85%[182]. - Accounts payable increased to CNY 152,466,501.20 from CNY 71,506,373.40, reflecting a growth of about 113%[182]. - The company’s cash and cash equivalents decreased to CNY 13,843,539.15 from CNY 43,127,431.96, a decline of approximately 68%[185]. Revenue Breakdown - Revenue from the lithium battery equipment business fell by 63.71% year-on-year to ¥32,015,957.66, attributed to a slowdown in demand[49]. - The lithium salt and deep processing business generated revenue of ¥38,525,221.25, a decrease of 21.80% year-on-year due to market price declines and insufficient demand[49]. - Revenue from lithium mining and selection industry reached ¥50,710,916.29, with a gross margin of 61.27%[51]. - The company processed 16,000 tons of raw ore and produced 1,870 tons of lithium concentrate with a recovery rate of 74.77%[42]. Investments and Projects - The company signed a ¥1.4 billion investment agreement with the government of Kangding City to develop the Kangding Green Lithium Industry Park, which includes a 1.05 million tons/year mining expansion project[42]. - The company has increased its investment in the construction of the Rongda Lithium Industry project, contributing to the growth of its in-progress projects[34]. - The ongoing major non-equity investment projects include the 1.05 million tons/year mining expansion project with an investment of ¥91,246,654.06, currently at 40.43% completion[69]. - The company established three wholly-owned subsidiaries with a total investment of ¥160,000,000, focusing on lithium mining and processing[64]. Market and Industry Conditions - The company faced a 37.4% year-on-year decline in new energy vehicle sales, impacting the lithium product market negatively[83]. - The lithium product prices have been under pressure due to the reduction of subsidies and the COVID-19 pandemic, leading to a significant drop in sales[84]. - The company is exposed to risks related to reliance on a limited number of customers in the lithium mining sector, which could affect revenue stability[85]. - The company plans to adjust its operational strategies in response to market dynamics and government policies to mitigate risks[85]. Research and Development - The company has submitted 3 invention patent applications and 1 utility model application during the reporting period, with a total of 8 patents granted, indicating a strong focus on R&D in lithium battery equipment[39]. - Research and development investment decreased by 9.15% year-on-year to ¥6,213,746.28[46]. - The company will continue to invest in R&D to enhance technological advantages and product quality, aiming to improve product premium capabilities while exploring more cost-effective raw material suppliers to strengthen cost control and reduce production costs[86]. Environmental and Regulatory Compliance - The company has implemented dust control measures, achieving an emission standard of less than 100 mg/Nm3 for dust from the crushing and screening processes[136]. - The company has zero discharge of production wastewater, with all wastewater being recycled and reused[136]. - The company has established an environmental monitoring system for tailings and surface water quality, conducting quarterly external monitoring[138]. - The company has received environmental permits and passed inspections for its projects, ensuring compliance with local regulations[137]. Corporate Governance and Shareholder Information - The company’s stock was placed under "delisting risk warning" due to consecutive years of negative audited net profit for 2018 and 2019, effective from April 22, 2020[142]. - The total number of common shareholders at the end of the reporting period was 19,982, with a significant shareholder, Rongjie Investment Holding Group Co., Ltd., holding 23.82% of shares, totaling 61,857,992 shares[150]. - The company did not conduct any repurchase transactions among its top ten shareholders during the reporting period[160]. - The company has appointed Zhongxinghua Accounting Firm as its auditor for the 2020 financial report, following approval at the first extraordinary general meeting of 2020[142].