长青股份(002391) - 2023 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2023 was CNY 2,003,732,106.40, a decrease of 5.90% compared to CNY 2,129,324,298.73 in the same period last year[26]. - Net profit attributable to shareholders was CNY 172,534,495.26, down 14.48% from CNY 201,743,922.08 year-on-year[26]. - The net cash flow from operating activities was CNY 80,504,086.45, a significant decline of 76.36% compared to CNY 340,587,714.71 in the previous year[26]. - Basic earnings per share decreased by 14.02% to CNY 0.2656 from CNY 0.3089 in the same period last year[26]. - The net profit after deducting non-recurring gains and losses was CNY 176,144,264.25, a decrease of 12.87% from CNY 202,154,719.10 year-on-year[26]. - The company's operating costs decreased by 7.31%, amounting to CNY 1,566,176,040.53, down from CNY 1,689,742,221.36[57]. - The company reported a net profit for the first half of 2023 of CNY 174,063,547.97, a decline of 14.7% from CNY 204,101,640.97 in the same period of 2022[174]. - The total comprehensive income attributable to the parent company was CNY 171,616,495.26, down from CNY 200,963,622.08 in the same period of 2022[178]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,803,572,820.23, an increase of 4.41% from CNY 7,473,984,440.34 at the end of the previous year[26]. - The company's current assets reached CNY 3,431,530,961.70, up from CNY 3,242,128,683.58, indicating an increase of about 5.9%[166]. - Total liabilities as of June 30, 2023, were CNY 3,108,727,472.09, compared to CNY 2,824,130,374.88 at the beginning of the year, representing an increase of approximately 10.1%[168]. - The company's equity attributable to shareholders reached CNY 4,680,682,830.61, up from CNY 4,637,220,600.64, indicating a growth of about 0.9%[168]. Market Position and Competition - The company ranked 24th in the 2023 list of China's top 100 pesticide sales enterprises, reflecting its competitive position in the industry[38]. - 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%[34]. - China accounts for about one-third of the global pesticide production, indicating a significant market presence[35]. - The company faces risks related to industry competition, capacity expansion, raw material price fluctuations, and environmental policies[5]. Research and Development - Research and development investment increased by 15.75%, reaching CNY 111,625,672.75, compared to CNY 96,433,772.52 in the previous year[58]. - The company has successfully developed 30 new pesticide varieties with independent intellectual property rights, covering over 3 million acres in cumulative promotion area[38]. - The company focuses on high-efficiency, low-toxicity, and low-residue pesticide products, aligning with market trends towards environmentally friendly solutions[38]. Environmental Compliance - The company adheres to strict environmental standards, including surface water quality standards and air quality standards, in compliance with national regulations[97]. - The company has invested in environmental protection, ensuring that emissions meet national standards, although this has raised operational costs and depreciation expenses[86]. - The company has established an automated control platform integrating DCS control systems, firefighting, and video monitoring, significantly reducing the likelihood of safety incidents[86]. Subsidiaries and Investments - The company’s subsidiary, Jiangsu Changqing Agricultural Chemical Nantong Co., Ltd., reported a revenue of CNY 474,628,896.12 and a net profit of CNY 45,092,413.77 for the reporting period[83]. - The company has established multiple subsidiaries, including Jiangsu Changqing Agricultural Trade Co., Ltd. and Hunan Changqing Agricultural Co., Ltd.[199]. - The company has made strategic adjustments to its fundraising projects, including relocating the production site for a key project to enhance resource allocation and project quality[82]. Shareholder Information - The total number of shares is 649,592,550, with 28.55% being restricted shares and 71.45% being unrestricted shares[150]. - The largest shareholder, Yu Guoquan, holds 25.40% of the shares, totaling 165,013,503 shares[152]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[93]. Financial Strategy - The company has ongoing investments in various financial products, indicating a diversified investment strategy[141]. - The financial strategy includes both principal-protected and non-principal-protected products to balance risk and return[141]. - The company has structured financial products with a total value of 25,000, yielding a return of 2.88%[144].