LFBC(SZ:002513)2021-08-19 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥640,322,365.49, representing a 10.71% increase compared to ¥578,381,741.62 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was -¥13,507,735.71, a decrease of 39.28% from -¥9,698,096.76 in the previous year[19]. - The net cash flow from operating activities was ¥44,283,807.14, down 32.30% from ¥65,409,900.22 in the same period last year[19]. - The total assets at the end of the reporting period were ¥2,340,250,084.76, an increase of 1.26% from ¥2,311,049,219.02 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company decreased by 1.22% to ¥1,145,772,914.67 from ¥1,159,910,073.71 at the end of the previous year[19]. - The basic earnings per share were -¥0.04, a decrease of 33.33% from -¥0.03 in the same period last year[19]. - The diluted earnings per share were also -¥0.04, reflecting the same percentage decrease of 33.33%[19]. - The weighted average return on net assets was -1.21%, compared to -0.86% in the previous year, indicating a decline of 0.35%[19]. - The company reported a total of ¥1,552,638.37 in non-recurring gains and losses during the reporting period[24]. - The company achieved operating revenue of CNY 640,322,365.49, representing a year-on-year increase of 10.71%[29]. - The net profit attributable to shareholders was CNY -13,507,735.71, a decrease of 39.28% compared to the previous year[29]. Operational Challenges - The company's gross margin was impacted due to the shift from self-produced to externally purchased raw materials during the downtime of its phosgene synthesis unit[29]. - The company is currently rebuilding its phosgene synthesis facility, which has temporarily halted production, affecting its agricultural and fine chemical products[66]. - The ongoing COVID-19 pandemic continues to impact the company's operations, but it is adapting its production and marketing strategies to mitigate risks[65]. - The company faces intense market competition in the pesticide industry, with a large number of manufacturers leading to price competition, despite being one of the largest producers using phosgene as a raw material[59]. - The company is focusing on technological upgrades and cost reduction to enhance market competitiveness and is actively expanding into emerging markets[60]. Research and Development - The company has developed key technologies for the herbicide ringzine and is a major supplier of this product in China[28]. - The company has over 104 pesticide registration certificates, covering a wide range of insecticides, fungicides, and herbicides[36]. - Research and development expenses decreased by 37.29% to CNY 7,089,994.86 from CNY 11,306,886.35, attributed to a reduction in R&D projects[43]. - The company is initiating research and development for new products aimed at improving agricultural efficiency and sustainability[172]. - The company plans to continue its market expansion efforts, focusing on increasing production capacity and enhancing product offerings in the upcoming quarters[158]. Environmental Compliance - The company has implemented measures to ensure compliance with environmental regulations, maintaining pollutant emissions within national standards[61]. - The company is classified as a key pollutant discharge unit by environmental protection authorities[76]. - The company reported a total COD discharge of 215.2566 tons, which is within the permitted limits[76]. - The company’s wastewater discharge concentration for COD is reported at 9.98 mg/L, which complies with the standards[76]. - The company has successfully implemented a 400kt/a sulfuric acid project, which has been operational since May 2013[80]. - The company has established an emergency response plan for environmental incidents to minimize losses and ensure safety, with complete emergency facilities and resources in place[81]. Financial Management - The company reported a total external guarantee amount of 55,000,000 RMB, with an actual guarantee balance of 4,820,000 RMB at the end of the reporting period[106]. - The actual guarantee amount that occurred during the reporting period totaled 18,700,000 RMB[106]. - The company has not engaged in any major related party transactions during the reporting period[95]. - The company has not reported any significant environmental issues or exceedances in pollutant discharge during the reporting period[76]. - The company has not engaged in poverty alleviation or rural revitalization efforts during the reporting period[84]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 13,541[121]. - The largest shareholder, Xinyi Huayi Investment Management Co., Ltd., held 10.59% of the shares, amounting to 36,001,020 shares[122]. - Jiangsu Suhua Group Co., Ltd. and Hainan Jinsui International Holdings Co., Ltd. held 10.10% and 10.00% of the shares, with 34,334,137 and 34,000,000 shares respectively[122]. - The company underwent a change in controlling shareholder to Hainan Jinsui International Holdings Co., Ltd. on May 19, 2021[124]. - The actual controller changed to Liu Zhi on May 19, 2021[125]. Legal Matters - The company is involved in a significant lawsuit regarding performance compensation, with a claim amount of 6,250,000 yuan[91]. - The company has filed lawsuits against certain individuals for failing to fulfill performance compensation obligations, with ongoing legal proceedings[86]. Corporate Governance - The company underwent a board restructuring on June 15, 2021, with multiple new appointments including Liu Zhi as Chairman and General Manager[71]. - The company has experienced a complete turnover in its board of directors as of June 15, 2021, with all previous members leaving[71]. - The company has appointed new independent directors and supervisors as part of the board restructuring[71]. Financial Reporting - The financial report for the first half of 2021 was not audited[133]. - The financial report was approved by the board on August 18, 2021, ensuring compliance with relevant accounting standards[174]. - The financial statements prepared by the company comply with the requirements of the accounting standards, accurately reflecting its financial position as of June 30, 2021[178].