CHANGQING(SZ:002391)2021-08-17 16:00Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,844,254,042.50, representing a 15.12% increase compared to CNY 1,602,006,105.99 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 162,922,494.86, up 10.46% from CNY 147,489,342.38 in the previous year[19]. - The net cash flow from operating activities was CNY 105,671,718.23, an increase of 12.83% compared to CNY 93,656,063.09 in the same period last year[19]. - The total assets at the end of the reporting period were CNY 6,555,293,255.14, reflecting a 15.52% increase from CNY 5,674,741,428.10 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company were CNY 4,393,683,446.14, a slight increase of 0.91% from CNY 4,354,237,460.92 at the end of the previous year[19]. - The basic earnings per share for the reporting period was CNY 0.2471, a 1.15% increase from CNY 0.2443 in the same period last year[19]. - The diluted earnings per share increased by 10.61% to CNY 0.2471 from CNY 0.2234 in the previous year[19]. - The weighted average return on equity was 3.67%, a decrease of 0.05% compared to 3.72% in the same period last year[19]. Market and Industry Insights - The global pesticide market sales increased from $25.7 billion in 2001 to $57.5 billion in 2020, with an average annual growth rate of 4%[27]. - The crop protection pesticide market is expected to reach $66.7 billion by 2023, with a compound annual growth rate of 3% from 2018 to 2023[27]. - Herbicides accounted for approximately 44% of the global pesticide market share in 2019, while insecticides and fungicides held 27% and 25%, respectively[27]. - China accounts for about one-third of the global pesticide production, with a complete industrial system including research, production, and processing[28]. - The company ranked 20th in the 2020 China pesticide sales top 100 enterprises list and 17th in national pesticide export value[31]. Research and Development - The company focuses on the research, production, and sales of high-efficiency, low-toxicity, and low-residue pesticide products, with over 30 active ingredients and 110 formulations[32]. - The company is committed to increasing R&D investment and improving its independent innovation system to enhance international competitiveness[30]. - Research and development expenses rose by 33.18% to ¥73,908,681.61, compared to ¥55,495,623.99 in the prior year[50]. - The company emphasizes technological innovation and has formed partnerships with various research institutions to enhance its R&D capabilities[39]. Production and Capacity Expansion - The company has established a production line for 6,000 tons of glyphosate raw materials, which is expected to enter trial production in the third quarter[38]. - The company is actively advancing the construction of its Hubei production base, with projects for 2,000 tons of 2,6-diisopropyl aniline and 2,000 tons of Kungfu chrysanthemum ester entering equipment installation[38]. - The company plans to expand its production capacity, particularly in the Hubei production base, leading to an increase in construction in progress to ¥623,018,190.55[57]. Environmental Management - The company has passed the ISO 14001:2016 environmental management system certification, enhancing its environmental management practices[42]. - The company has been recognized for its environmental management, receiving multiple awards for its commitment to sustainable practices[41]. - The company is classified as a key pollutant discharge unit by environmental protection authorities[83]. - The total emissions of sulfur dioxide from the company reached 7.69 tons, exceeding the annual limit of 194.988 tons[83]. - The company has established multiple environmental management systems and emergency response plans to comply with national regulations[84]. Financial Management and Investments - The company has approved a total external guarantee limit of CNY 100 million, with actual guarantees amounting to CNY 54.6 million, representing 12.43% of the company's net assets[116]. - Total entrusted wealth management funds amounted to ¥84.3 million, with an outstanding balance of ¥46 million[118]. - The company reported no overdue amounts for entrusted wealth management products, indicating effective management of financial assets[118]. - The company has established relationships with multiple banks for wealth management services, enhancing its investment options[120]. Shareholder and Stock Information - The company plans not to distribute cash dividends or issue bonus shares for the semi-annual period[80]. - A total of 6,359,970 restricted stocks were unlocked for 111 incentive targets as of January 13, 2021[81]. - The company repurchased and canceled 6,411,931 restricted stocks for 111 incentive targets on May 26, 2021[81]. - The total number of ordinary shareholders at the end of the reporting period was 37,113[136]. - Major shareholder Yu Guoquan held 25.24% of the shares, totaling 165,013,503 ordinary shares[136]. Corporate Governance - The annual shareholders' meeting had a participation rate of 39.47%, reflecting investor engagement in corporate governance[78]. - The company has not engaged in any major related party transactions during the reporting period[104]. - The company has not made any significant investments or cash expenditures that would affect its profit distribution policy[1].