长青股份(002391) - 2022 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 2,129,324,298.73, representing a 15.46% increase compared to CNY 1,844,254,042.50 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was CNY 201,743,922.08, up 23.83% from CNY 162,922,494.86 year-on-year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 202,154,719.10, an increase of 28.64% compared to CNY 157,145,123.68 in the previous year[23]. - The net cash flow from operating activities reached CNY 340,587,714.71, a significant increase of 222.31% from CNY 105,671,718.23 in the same period last year[23]. - Basic earnings per share were CNY 0.3089, reflecting a 25.01% increase from CNY 0.2471 in the previous year[23]. - The company's total revenue for the first half of 2022 reached CNY 2,083,346,552.65, representing a year-on-year increase of 15.59%[56]. - The pesticide segment accounted for 97.84% of total operating revenue, with a year-on-year growth of 15.59%[53]. - The company reported a net profit of 0.79 million in March 2022, maintaining a consistent performance across various financial products[133]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,495,914,764.66, a 9.19% increase from CNY 6,865,253,105.64 at the end of the previous year[23]. - The company's accounts receivable rose to CNY 1,086,954,923.60, which is 14.50% of total assets, reflecting a 7.16% increase due to seasonal sales[61]. - The inventory level stood at CNY 1,325,804,030.95, representing 17.69% of total assets, with no significant changes reported[61]. - Total liabilities amounted to CNY 2,904,704,241.97, compared to CNY 2,355,427,946.73, representing an increase of about 23.29%[164]. - The company's long-term borrowings increased to CNY 610,000,000.00 from CNY 500,000,000.00, a rise of 22%[164]. Research and Development - The company's R&D investment increased by 29.05% to ¥96,433,772.52 from ¥74,725,152.45 in the previous year[52]. - Research and development expenses increased to CNY 90,730,516.63, up 22.7% from CNY 73,908,681.61 in the previous year[170]. - The company is enhancing its research and development efforts to improve its international competitiveness in the pesticide sector[34]. - The company has successfully created 30 new pesticide varieties with independent intellectual property rights, achieving a cumulative promotion area of over 300 million mu[34]. Market Position and Strategy - The global pesticide market is expected to reach $66.703 billion in 2023, with a compound annual growth rate of 3% from 2018 to 2023[31]. - The company ranks 19th in the 2022 list of China's top 100 pesticide sales enterprises published by the China Pesticide Industry Association[35]. - The company has established a comprehensive marketing network covering all 30 provinces, municipalities, and autonomous regions in China[38]. - The company is focusing on the development of high-efficiency, low-toxicity, and low-residue new pesticides, which are expected to have a large market space[33]. Environmental Management - The company has established a comprehensive environmental management system, achieving ISO14001 certification and being recognized as a green factory in the petrochemical industry[44]. - The company has implemented a pollution prevention and control management system, ensuring compliance with national laws and regulations[95]. - The company has received no administrative penalties for environmental issues during the reporting period[101]. - The company has launched several production projects at its Hubei base, including 2,6-Diisopropylaniline with an annual output of 2,000 tons, and the Flubendiamide project with an annual output of 600 tons, which are now in production[102]. Shareholder and Equity Information - The company has not distributed cash dividends or bonus shares for the half-year period, focusing on reinvestment strategies[86]. - A cash dividend of 129.92 million yuan was distributed in June 2022, representing 20% of the distributable profits for the year as per the three-year shareholder return plan[103]. - The total number of ordinary shareholders at the end of the reporting period was 29,516[150]. - The largest shareholder, Yu Guoquan, holds 25.40% of the shares, totaling 165,013,503 shares[150]. Financial Management and Investments - The total amount of entrusted financial management is CNY 60.5 million, with no overdue amounts[130]. - The company has invested CNY 36 million in bank financial products using raised funds and CNY 24.5 million using self-owned funds[130]. - The company has ongoing structured deposit investments totaling 3,000 million CNY with a floating return rate of 3.69%, which are currently not yet due[131]. - The company plans to continue its investment strategy in structured deposits and financial products, ensuring liquidity and potential returns[131]. Risk Management - The company emphasizes the importance of risk awareness regarding industry competition, capacity expansion, and raw material price fluctuations[4]. - The company is facing industry competition risks due to the entry of international pesticide giants, which may lead to price competition and affect profit margins[77]. - Raw material costs account for approximately 70% of production costs, and fluctuations in prices could significantly impact profitability, although the company has strong cost transfer capabilities[78]. Compliance and Governance - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring compliance and accuracy[194]. - The company confirms its ability to continue as a going concern for at least 12 months from the reporting date[195]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[115].