Valiant(SZ:002643)2022-08-19 16:00Financial Performance - The company's operating revenue for the first half of 2022 reached ¥2,586,647,864.95, representing a 42.91% increase compared to ¥1,809,929,277.25 in the same period last year[26]. - Net profit attributable to shareholders was ¥490,870,914.47, up 63.06% from ¥301,031,970.09 year-on-year[26]. - The net profit after deducting non-recurring gains and losses was ¥480,998,961.24, reflecting a 63.30% increase compared to ¥294,557,035.88 in the previous year[26]. - Basic earnings per share increased to ¥0.54, a rise of 63.64% from ¥0.33 in the same period last year[26]. - The total assets of the company at the end of the reporting period were ¥8,844,182,335.89, which is a 12.30% increase from ¥7,875,710,805.32 at the end of the previous year[26]. - The net assets attributable to shareholders increased to ¥5,958,340,657.07, up 6.14% from ¥5,613,710,933.04 at the end of the previous year[26]. - The company reported a net cash flow from operating activities of ¥605,172,638.23, down 14.89% from ¥711,085,981.71 in the same period last year[26]. - The weighted average return on net assets was 8.46%, an increase of 2.79% compared to 5.67% in the previous year[26]. - The gross profit margin for the manufacturing sector was 37.63%, a decrease of 2.00% from the previous year, with operating costs rising by 47.65% to ¥1,613,351,337.56[74]. - Research and development investment increased by 69.80% to ¥175,449,887.35, aimed at optimizing product structure and enhancing competitiveness[71]. - The sales revenue from the health sector surged by 150.66% to ¥1,160,839,317.90, significantly contributing to overall revenue growth[71]. Business Expansion and Innovation - The company has developed over 6,000 types of compounds, with more than 2,000 products already on the market and over 500 domestic and international invention patents[36]. - The company is actively expanding its new materials business, with the "Zhongjie Neng Wanrun (Penglai) New Materials Phase I Construction Project" underway to increase production capacity in electronic information materials, special engineering materials, and new energy materials[36]. - The company has established a new materials development subsidiary in 2021 to enhance innovation and industrialization efficiency in new materials[36]. - The OLED display market is expected to continue growing, with increasing demand for OLED materials as the technology becomes more commercialized[47]. - The company maintains its position as a leading supplier of high-end liquid crystal monomer materials, focusing on continuous product development and optimization of production processes[42]. - The company has entered various fields in the health industry, including pharmaceutical intermediates and life sciences, with plans to enhance its competitive strength through independent and collaborative research[36]. - The company aims to become a global leader in providing comprehensive CMO and CDMO services, leveraging its expertise in chemical synthesis[36]. - The company is focusing on technological innovation to address "bottleneck" issues in new materials and enhance its market position[36]. - The company’s electronic information materials primarily include high-end liquid crystal monomer materials and OLED materials, which are crucial for the LCD and OLED display industries[37]. - The OLED materials business has shown good development, with the subsidiary San Yue Technology achieving revenue growth and supplying self-developed OLED finished materials to downstream customers[48]. - The OLED sublimation precursor materials business of the subsidiary Jiu Mu Chemical has reached a new high, maintaining a leading supply position in the industry, and a project for OLED display materials is progressing well, aiming for operational use within the year[48]. - The company plans to continuously develop new products and optimize OLED product processes and capacity structures to enhance competitiveness in OLED materials[51]. - The company has made progress in polyimide and photoresist materials, with self-developed polyimide finished materials passing customer validation and achieving supply[52]. - A project to produce 65 tons of photoresist resin series products is underway, with preparations for trial production actively progressing[53]. - The company is expanding electronic information materials capacity by 1,150 tons/year and special engineering materials capacity by 6,500 tons/year through the "Zhongjie Neng Wanrun (Penglai) New Materials Phase I Construction Project"[53]. - The company maintains a leading position in high-end zeolite environmental materials for automotive exhaust purification catalysts, with a theoretical production capacity of nearly 10,000 tons[59]. - The company is expanding its capacity for new energy battery electrolyte additives by 250 tons/year, with ongoing project development[59]. - The new GMP-certified pharmaceutical workshop is expected to alleviate capacity shortages in pharmaceutical products once operational[63]. Risk Management - The main risk factors include changes in export tax rebate policies, exchange rate risks, raw material price fluctuations, and risks arising from Sino-U.S. trade frictions and the pandemic[6]. - The company identifies key risks including export tax policy changes, exchange rate fluctuations, raw material price volatility, US-China trade tensions, and pandemic-related risks[100][101]. - The company emphasizes the importance of export tax policies for enhancing competitiveness in international markets, indicating a low likelihood of significant changes[100]. - The company has implemented measures to mitigate exchange rate risks, such as multi-currency settlements and timely price adjustments[100]. - The company has strengthened raw material procurement risk controls and optimized product structures to address raw material price volatility[100]. - The company plans to increase R&D investment and improve product quality to counteract potential impacts from US-China trade tensions[100]. - The company is closely monitoring the pandemic's impact on downstream customers and is enhancing communication with clients and suppliers[100]. Environmental and Safety Management - The company has a strict environmental management system in place, ensuring compliance with pollution discharge standards[113][116]. - The company has established a comprehensive emergency response plan for environmental incidents and conducts regular drills[118]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[120]. - The company invested 13.17 million yuan in safety measures during the reporting period, with a dedicated safety management team of 15 personnel[129]. - The company achieved ISO45001:2018 certification for its occupational health and safety management system[130]. - The company completed the safety evaluations for multiple projects, including the "Annual Production of 65 Tons of Photoresist Resin Series Products" project, which passed all necessary safety assessments by April 2022[128]. - The company has established a comprehensive safety management system and conducted regular safety training, achieving a 100% certification rate for special operation personnel[130]. - The company has implemented energy-saving measures and optimized steam energy usage to reduce carbon emissions[122]. Shareholder and Corporate Governance - The company has not declared any cash dividends or stock bonuses for the half-year period[108]. - The company plans to distribute a cash dividend of 2.55 CNY per 10 shares, totaling approximately 237.24 million CNY, which is not less than 20% of the distributable profit for the year[173]. - As of the latest report, the total number of shares is 930,335,215, with 34,502,005 shares under limited sale conditions, representing 3.71% of the total[174]. - The company’s unrestricted shares amount to 895,833,210, accounting for 96.29% of the total shares[174]. - The company disclosed an investment in a new materials construction project through its wholly-owned subsidiary[169]. - The company reported a decrease of 78,750 shares in limited sale conditions due to the release of shares from management stock incentives[178]. - The company’s independent directors have obtained their independent director qualification certificates[171]. - The company has appointed an auditing firm for the 2022 fiscal year[171]. - The company’s vice chairman resigned as of March 12, 2022[171]. - The company has not conducted any capital reserve transfers or stock bonuses in the current profit distribution plan[173]. - The total number of common shareholders at the end of the reporting period was 19,853[182]. - China Energy Conservation and Environmental Protection Group held 26.12% of shares, totaling 242,972,343 shares[182]. - Shandong Luyin Technology Investment Co., Ltd. held 3.80% of shares, totaling 35,360,000 shares[182]. - The top ten shareholders did not engage in any repurchase transactions during the reporting period[190]. - The company did not experience any changes in its controlling shareholder during the reporting period[192]. - The company does not have any preferred shares in the reporting period[196]. - The company reported a total of 20,100,366 shares held by China Energy Conservation Capital Holdings Co., Ltd.[190]. - The total number of shares held by the top ten unrestricted common shareholders was 242,972,343 shares[190]. - The company has no changes in actual controllers during the reporting period[192]. - The company reported a total of 22,258,588 shares held by China Industrial Bank Co., Ltd. - European Value Smart Selection Mixed Securities Investment Fund[190]. Legal and Compliance - There were no significant legal disputes or non-compliance issues reported during the reporting period[139]. - The company has not engaged in any non-operational fund occupation by major shareholders or related parties during the reporting period[135]. - The company has not experienced any bankruptcy restructuring or significant litigation matters during the reporting period[138]. - The company received a court ruling on July 12, 2022, confirming its status as a debtor in a case involving Changcheng Shandong Company, which requires the company to assume repayment responsibilities[147]. - The company reported a total deposit amount of 66,036.9 million CNY and total withdrawal amount of 59,824.26 million CNY from its financial subsidiary during the reporting period[154]. - The company has a loan limit of 60,000 million CNY with its financial subsidiary, with a total loan amount of 20,000 million CNY issued during the reporting period[154]. - The company has entrusted 57,300 million CNY in bank financial products, with an outstanding balance of 9,000 million CNY[164]. - The company has no significant related party transactions during the reporting period[148]. - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[149]. - The company has no major contracts or leasing arrangements during the reporting period[157]. - The company has no significant guarantees outside of its subsidiaries, with a total guarantee amount of 2,865.49 million CNY[162]. - The company has not reported any overdue amounts or impairment provisions related to its entrusted financial management[167]. - The company has not experienced any major changes in its operational integrity during the reporting period[148].