JINGU(SZ:002488)2021-08-25 16:00Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2021, representing a year-on-year increase of 15%[26]. - Net profit attributable to shareholders reached RMB 150 million, up 20% compared to the same period last year[26]. - The company's operating revenue for the reporting period was ¥1,218,933,046.03, a decrease of 11.28% compared to the same period last year[33]. - The net profit attributable to shareholders was ¥71,184,919.68, representing a significant increase of 279.16% year-on-year[33]. - The basic earnings per share increased to ¥0.07, a rise of 275.00% compared to the same period last year[33]. - Total revenue for the period was approximately ¥1.22 billion, a decrease of 11.3% compared to ¥1.37 billion in the previous period[75]. - Revenue from automotive parts manufacturing was ¥670.47 million, accounting for 55.00% of total revenue, with a year-on-year increase of 9.93%[75]. - The automotive aftermarket business generated ¥38.23 million, representing 3.14% of total revenue, with a significant year-on-year increase of 40.35%[78]. - The company's operating costs decreased by 13.49% to ¥1,057,789,684.75 from ¥1,222,730,995.89 year-on-year[72]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by the end of 2022[26]. - A strategic partnership with a leading technology firm is expected to enhance the company's product offerings and market competitiveness[26]. - The company is exploring potential acquisitions to strengthen its supply chain and expand its product portfolio[26]. - The company aims to continue expanding its lightweight product research based on Avatar technology to capture more market share from aluminum wheels[43]. - The company plans to promote AVATAR passenger car wheels to new energy vehicle manufacturers, highlighting their competitive pricing at about half the cost of aluminum wheels while maintaining similar weight and aesthetics[60]. Research and Development - The company has invested RMB 200 million in R&D for new product development, focusing on electric vehicle components[26]. - Research and development investment increased by 36.68% to ¥19,319,100.55, up from ¥14,134,797.78 in the previous year[72]. - The company has established a strong technical foundation by expanding its R&D team and continuously updating its technology reserves[68]. - The company has received the "High-tech Enterprise Certificate" and has a provincial-level R&D center, emphasizing its commitment to technological innovation and high-quality product development[65]. Product Development and Innovation - The company successfully entered the new energy electric vehicle market, becoming the standard wheel supplier for Wuling Hongguang MINI EV[43]. - The company launched the Avatar wheel production line, a revolutionary lightweight product that competes with aluminum wheels, enhancing market share[43]. - The company has developed the "AVATAR" steel wheel product, which is lighter than aluminum wheels and has a cost approximately 50% lower than aluminum wheels[50]. - The strength of the AVATAR wheels is three times that of ordinary steel wheels and six times that of aluminum wheels, with a weight of 28kg compared to the market average of 40kg for similar products[50]. - The company expects a significant positive impact on its performance as the sales of AVATAR products increase, with a noticeable improvement in gross margin compared to traditional products[50]. Environmental and Social Responsibility - The company has invested in environmental protection facilities and has effectively managed wastewater and waste gas treatment during the reporting period[140]. - The company employs advanced pollution control technologies, achieving compliance with wastewater discharge standards, including chemical oxygen demand (COD) of ≤15 tons/year and ammonia nitrogen of ≤1.7 tons/year[128]. - Environmental impact assessments for new projects have been conducted with a 100% compliance rate, ensuring that environmental protection measures are integrated into project designs and operations[129]. - The company has launched a photovoltaic power generation project through its subsidiary, which is expected to bring significant environmental benefits[140]. - The company has actively participated in social welfare initiatives, supporting local education, culture, and poverty alleviation efforts[137]. Financial Management and Risks - The company is facing risks related to industrial policies and raw material price fluctuations, which may impact its operations[101]. - The company maintains long-term partnerships with major steel mills, including a joint venture with Ansteel, which helps control raw material costs, but sustained price increases could adversely affect operations[103]. - The company faces exchange rate risks as part of its steel wheel products are exported and settled in USD, with fluctuations expected to impact profitability[103]. - The company has a financing leasing subsidiary with a registered capital of 400,000,000 yuan, reporting a net loss of 8,311,517.61 yuan[100]. Shareholder Information - The total number of shares before the change was 1,001,914,821, with 21.93% being restricted shares and 78.07% being unrestricted shares[180]. - The company repurchased 4,237,500 shares, accounting for approximately 0.42% of the total share capital, with a total expenditure of 30,637,414.24 RMB[183]. - The largest shareholder, Sun Jinguo, holds 12.63% of the shares, totaling 126,562,500 shares, which are pledged[188]. - The company has a total of 48,663 common shareholders at the end of the reporting period[188]. - The company has implemented a strategy to manage shareholding changes in compliance with regulatory requirements[184].