PRET(SZ:002324)2022-08-09 16:00Financial Performance - The company's operating revenue for the first half of 2022 was ¥2,400,471,629.39, representing a 13.18% increase compared to ¥2,121,017,120.43 in the same period last year[28]. - The net profit attributable to shareholders of the listed company decreased by 46.16% to ¥46,537,438.92, down from ¥86,442,827.96 in the previous year[28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥37,874,827.39, a decrease of 44.69% compared to ¥68,480,862.10 in the same period last year[28]. - The net cash flow from operating activities was ¥311,198,871.60, showing a slight increase of 1.26% from ¥307,320,747.55 in the previous year[28]. - Basic earnings per share were ¥0.05, down 44.44% from ¥0.09 in the same period last year[28]. - Total assets at the end of the reporting period were ¥4,829,426,307.81, an increase of 4.59% from ¥4,617,289,096.57 at the end of the previous year[28]. - The net assets attributable to shareholders of the listed company were ¥2,621,698,695.41, a slight increase of 0.69% from ¥2,603,782,705.88 at the end of the previous year[28]. - The weighted average return on net assets was 1.77%, down from 3.16% in the previous year, reflecting a decrease of 1.39%[28]. - The operating costs increased by 13.53%, amounting to ¥2,112,513,494.52, up from ¥1,860,765,439.34 in the same period last year[84]. - Research and development investment decreased by 4.68% to ¥115,332,577.09, down from ¥120,989,641.59 in the previous year[84]. - The company reported a significant decrease in income tax expenses by 68.03%, amounting to ¥7,249,596.77, compared to ¥22,677,551.73 in the previous year[84]. Business Segments - The company focuses on three main business segments: automotive materials, ICT new materials, and new energy, with a significant emphasis on automotive and ICT materials during the reporting period[38]. - The automotive materials segment includes modified polypropylene, modified ABS, and modified nylon materials, primarily used in automotive interior and exterior systems[38]. - The ICT new materials segment features self-developed liquid crystal polymer materials, which are crucial for 5G high-frequency signal transmission and military aerospace applications[38]. - The new energy segment, centered around the restructured Jiangsu Haida Power Co., includes lithium-ion batteries and battery management systems, targeting applications in electric tools and smart appliances[39]. - The company has a total battery production capacity of 3.03 GWh per year, focusing on lithium batteries for power and energy storage applications[51]. Market Position and Strategy - The company has maintained strong partnerships with major automotive manufacturers, including BMW and Ford, positioning itself as a leading player in the modified plastics industry[46]. - The ICT materials industry is experiencing rapid growth, with demand for electronic information materials increasing significantly due to advancements in technology and automation[49]. - The company aims to leverage its technological advancements in low-density and high-performance materials to enhance its competitive edge in the automotive materials sector[48]. - The company has established a complete industrial chain layout for LCP materials, with production capacities of 2,000 tons for LCP resin, 3 million square meters for LCP films, and 150 tons for LCP fibers[50]. - The company has established strategic partnerships with major clients in various sectors, including telecommunications and energy storage, enhancing its market presence[52]. - The company aims to achieve a 20% market share for new energy vehicles by 2025, with a significant increase in production and sales of 2.66 million units in the first half of 2022, reflecting a year-on-year growth of 120%[56]. Research and Development - The company holds 16 invention patents pending and 8 authorized invention patents related to LCP technology, showcasing its strong R&D capabilities[50]. - The company is focusing on self-innovation and R&D to meet the growing demand for materials in the new energy vehicle and smart vehicle sectors[115]. - The company is focused on developing high-performance modified materials to enhance the application ratio of modified plastics in automobiles, aiming for lightweight materials to reduce energy consumption[79]. - The company has developed high-performance flame-retardant PC/ABS alloy materials for automotive interior parts, which won the third prize in the Zhejiang Provincial Technology Invention Award[69]. - The company has developed a series of LCP injection molding products with high dielectric adjustability and low warpage, widely applied in high-frequency and high-speed connectors[68]. Environmental and Compliance - The company has maintained compliance with environmental regulations, with no exceedances reported in pollutant emissions[132]. - The company is actively monitoring and managing environmental protection facilities to ensure compliance with legal requirements[132]. - The company has obtained environmental impact assessment approvals for multiple projects, including a 100,000-ton high-performance modified polymer composite materials project and a 150,000-ton automotive high-performance environmentally friendly plastic composite materials project[136]. - There were no administrative penalties due to environmental issues during the reporting period, indicating compliance with environmental regulations[139]. - The company has established a comprehensive quality management system, maintaining certifications such as IATF16949:2016 and ISO14001:2015, ensuring strict control over product quality[77]. Risk Management - The company faces risks including macroeconomic and industry conditions, raw material price fluctuations, and intellectual property risks[7]. - The company has established a comprehensive risk control system for its hedging activities, with a maximum investment of 100 million yuan in margin funds[105]. - The company is actively participating in carbon emission data collection and reporting, contributing to the automotive industry's collaborative carbon reduction efforts[80]. - The company has established a moderate raw material inventory policy to mitigate the impact of rising raw material prices on performance[116]. - The company has multiple patents and measures in place to protect its intellectual property, but there is a risk of technology leakage due to the long patent review process[117]. Shareholder and Governance - The company has committed to maintaining transparency and protecting the legal rights of all shareholders[143]. - The company reported a commitment to maintain the independence of its operations, assets, finances, personnel, and institutions post-transaction, ensuring no loss of independence[152]. - The company has pledged to minimize and avoid related party transactions, ensuring fair operations at market prices when necessary[155]. - The company has committed to compensating for any tax liabilities arising from the non-recognition of preferential tax policies, ensuring full payment of any due taxes[161]. - The company has a comprehensive governance structure in place, ensuring clear responsibilities and effective decision-making processes[142]. Future Outlook - Future outlook remains positive with continued product development and market expansion strategies in place[196]. - The company is focusing on new technology research and development to enhance product offerings[196]. - Zhejiang Pulite is exploring potential mergers and acquisitions to further strengthen its market position[196].