ST升达(002259) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 653,301,408.13, representing a 91.13% increase compared to CNY 341,813,637.52 in the same period last year[18]. - The net profit attributable to shareholders of the listed company decreased by 8.35% to CNY 24,327,120.13 from CNY 26,543,433.93 year-on-year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 170.28% to CNY 28,788,389.20, compared to a loss of CNY 40,963,427.30 in the previous year[18]. - The company's operating revenue for the reporting period reached ¥653,301,408.13, representing a 91.13% increase compared to ¥341,813,637.52 in the same period last year, driven by a significant rise in both sales volume and price[37]. - LNG sales accounted for 99.81% of total revenue, amounting to ¥652,080,608.13, which is a 93.47% increase from ¥337,045,931.10 in the previous year[39]. - The company's operating costs increased by 81.03% to ¥569,818,226.02, primarily due to a rise in the procurement volume and price of raw natural gas, with procurement volume increasing by 104 million cubic meters[37]. - The gross profit margin for LNG sales improved to 12.65%, up from 7.11% in the previous year, indicating enhanced profitability[40]. - The company's net cash flow from operating activities was CNY 26,077,405.20, a decrease of 5.39% from CNY 27,563,824.07 in the previous year[18]. - Basic and diluted earnings per share both decreased by 8.22% to CNY 0.0324 from CNY 0.0353 in the same period last year[18]. - The company's net loss for the first half of 2021 was CNY 1.14 billion, slightly improved from a net loss of CNY 1.16 billion in the same period of 2020[131]. - The total profit for the first half of 2021 was CNY 30.17 million, compared to a total loss of CNY 88.21 million in the same period of the previous year[138]. - The company's total comprehensive income for the first half of 2021 was CNY 23.80 million, compared to a total comprehensive loss of CNY 81.85 million in the first half of 2020[139]. Assets and Liabilities - The company's total assets decreased by 9.71% to CNY 953,634,780.93 from CNY 1,056,177,106.18 at the end of the previous year[18]. - The net assets attributable to shareholders increased by 45.81% to CNY 85,035,222.99 from CNY 58,319,996.27 at the end of the previous year[18]. - Cash and cash equivalents decreased to 110,391,719 RMB, accounting for 11.58% of total assets, down from 18.55% at the end of the previous year[43]. - Short-term borrowings decreased to 135,516,949 RMB, representing 14.21% of total assets, down from 19.17% at the end of the previous year[43]. - The company's current assets decreased to CNY 162,841,532.80 from CNY 239,157,931.77, representing a decline of about 31.9%[129]. - The company's inventory increased from CNY 18,982,059.71 to CNY 22,830,269.57, an increase of approximately 20.5%[128]. - The total liabilities decreased from CNY 1,056,177,106.18 to CNY 953,634,780.93, indicating a reduction of approximately 9.7%[128]. - The company's total liabilities at the end of the reporting period were 910 million yuan, indicating a need for careful management of debt levels[164]. Cash Flow - The net cash flow from operating activities was ¥26,077,405.20, a slight decrease of 5.39% compared to the previous year[37]. - The cash flow from financing activities showed a net outflow of -CNY 107,769,643.20, compared to -CNY 15,000,000.00 in the previous year[147]. - The ending balance of cash and cash equivalents decreased to CNY 9,114,358.78 from CNY 91,568,740.32 at the beginning of the period[148]. - The cash inflow from operating activities was CNY 480,713.12, a decrease of 94.2% from CNY 8,326,220.70 in the previous year[149]. - The total cash inflow from investment activities was CNY 158,155,303.62, while the cash outflow was CNY 162,384,019.47, resulting in a net cash flow of -CNY 4,228,715.85[147]. Risks and Legal Issues - The company continues to face significant risks related to overdue debts and legal disputes due to historical issues with the controlling shareholder[5]. - The company faces risks including debt default, legal litigation, liquidity, and market risks[49]. - The original controlling shareholder has occupied 1.15 billion RMB of the company's funds, and the company is taking legal measures to recover these funds[51]. - The company is involved in a lawsuit with Xiamen International Bank regarding a guarantee contract dispute amounting to 30,000 million CNY, with the first instance judgment still pending[87]. - The company has been listed as a dishonest executor due to significant unpaid debts[89]. - The company disclosed ongoing litigation regarding financial loan contract disputes with Chengdu Rural Commercial Bank and other parties, with updates provided on multiple occasions throughout 2021[105]. Shareholder Information - As of the end of the reporting period, the total number of shares was 752,328,267, with no changes in the number of restricted shares[112]. - The company reported that there were no changes in the shareholding structure, with 100% of shares being unrestricted ordinary shares[112]. - The largest shareholder, Huabao Trust, holds 28.33% of the shares, totaling 213,115,525 shares[114]. - The company’s largest shareholder, Baosheng Trust Plan, holds 28.33% of the shares, totaling 21,311,550 shares[174]. Strategic Plans and Future Outlook - The company aims to strengthen its market position by exploring potential new customers while consolidating existing market shares in the face of increasing LNG production capacity in the region[31]. - The company plans to enhance operational efficiency and improve cash flow to address debt issues[50]. - The company plans to expand its market presence and invest in new product development to drive future growth[157]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its operational capabilities[157]. - The company has set a performance guidance for the next quarter, expecting continued growth in revenue and profit margins[157]. Environmental and Social Responsibility - The company invested 500,000 yuan in public welfare for greening and tree planting activities in response to local government initiatives[71]. - The company has implemented emergency response plans for environmental incidents, with approvals from local environmental protection agencies[68][69]. - The company has completed environmental impact assessments for its subsidiaries, with reports approved by experts and filed with regulatory authorities[65][67]. Accounting and Compliance - The financial report for the first half of 2021 was not audited[126]. - The company's financial reports comply with the requirements of the enterprise accounting standards, reflecting its financial status accurately[184]. - The consolidated financial statements are prepared in accordance with the relevant accounting standards, eliminating all significant internal transactions and balances[193].