NGL(SZ:002836)2023-08-27 16:00Financial Performance - The company's operating revenue for the first half of 2023 was ¥52,358,437.19, a decrease of 32.35% compared to ¥77,391,086.26 in the same period last year[22]. - The net profit attributable to shareholders was ¥2,427,214.55, down 72.13% from ¥8,710,561.77 year-on-year[22]. - The net cash flow from operating activities was -¥14,067,941.44, representing a decline of 168.99% compared to ¥20,391,843.19 in the previous year[22]. - Basic and diluted earnings per share were both ¥0.01, a decrease of 75.00% from ¥0.04 in the same period last year[22]. - Total assets at the end of the reporting period were ¥392,916,427.20, down 22.40% from ¥506,347,745.68 at the end of the previous year[22]. - The net assets attributable to shareholders decreased by 17.28% to ¥355,932,142.86 from ¥430,304,928.31 at the end of the last year[22]. - The company reported a significant drop in net profit excluding non-recurring gains and losses, which was ¥443,349.14, down 93.60% from ¥6,926,804.85 year-on-year[22]. - The weighted average return on equity decreased to 0.56% from 2.38% in the previous year[22]. - The gross profit margin for the packaging printing segment was 22.86%, a decrease of 2.68% compared to the previous year[50]. - Revenue from the packaging printing segment was ¥50,754,758.06, representing 96.94% of total revenue, down 27.75% year-on-year[49]. - The company reported a total profit of CNY 2,627,779.69 for the first half of 2023, down 72.6% from CNY 9,585,954.26 in the same period last year[164]. - The total comprehensive income for the first half of 2023 was CNY 2,427,214.55, a decrease of 72.1% from CNY 8,710,561.77 in the same period of 2022[164]. Cash Flow and Investments - The company's operating cash flow for the first half of 2023 was negative at -14,067,941.44 CNY, a significant decline compared to a positive cash flow of 20,391,843.19 CNY in the same period of 2022[168]. - Total cash inflow from investment activities was 249,442,073.72 CNY, while cash outflow was 191,906,970.91 CNY, resulting in a net cash flow of 57,535,102.81 CNY from investment activities, a turnaround from a negative cash flow of -6,160,679.33 CNY in 2022[169]. - The company reported a total cash and cash equivalents balance of 21,284,398.05 CNY at the end of the first half of 2023, down from 87,479,761.60 CNY at the end of the first half of 2022[169]. - The cash inflow from the disposal of subsidiaries and other business units was 118,243,600.00 CNY, contributing to the overall investment cash inflow[170]. - The total cash outflow for financing activities was 76,800,000.00 CNY, with no cash inflow reported, resulting in a net cash flow of -76,800,000.00 CNY from financing activities[171]. Operational Highlights - The company has established strong partnerships with major tobacco companies, including Zhejiang Zhongyan, Yunnan Zhongyan, and Guangdong Zhongyan, becoming a qualified supplier for several others[30]. - The tobacco packaging industry is valued between RMB 30 billion to 40 billion, with the company positioned as a leading service provider in this "golden sector" due to stable orders and high profit margins[31]. - The company has developed a comprehensive service capability, providing high-quality, high-stability, and large-scale cigarette label production services[34]. - The company has secured long-term cooperation with several core cigarette brands, including "Li Qun," "Yun Yan," and "Hong Jin Long," which are among the top-selling brands in the country[37]. - The company has accumulated 119 national patents and 28 registered trademarks, reflecting its commitment to innovation and quality in the cigarette label printing sector[42]. - The company has enhanced its production capabilities with the addition of an automatic high-end gift packaging box production line and coding systems in 2022, improving efficiency in meeting customer demands[44]. Market and Industry Trends - From 2017 to 2022, China's cigarette production increased from 2,345.07 billion to 2,432.15 billion units, with a CAGR of 0.73%, indicating a stable growth trend in the tobacco industry[32]. - The overall revenue of the tobacco products industry has grown from RMB 990.49 billion to RMB 1,279.24 billion, with a CAGR of 5.25%, indicating a positive outlook for the sector[32]. - Increased competition from new tobacco products may affect traditional tobacco packaging; the company aims to leverage its experience to enter the electronic cigarette packaging market[65]. Risk Management - The company faces risks from industry policies affecting tobacco sales, which could impact packaging demand, and plans to enhance product development and market expansion to mitigate these risks[64]. - The company is aware of potential risks from rising raw material prices and declining product prices, and plans to optimize production and management to maintain profit margins[67]. Environmental and Social Responsibility - The company was listed as a key pollutant discharge unit, adhering to strict environmental standards in its operations[76][77]. - The company achieved compliance with the "Industrial Enterprise Factory Boundary Environmental Noise Emission Standards" (GB12348-2008) within Class 2 standard limits[78]. - The company invested 60,000 RMB in environmental governance and paid an environmental protection tax of 6,668.55 RMB during the reporting period[87]. - The company has implemented noise control measures, including the use of low-noise fans and soundproofing, resulting in compliance with noise standards[84]. - The company has established a comprehensive emergency response plan for environmental incidents, which has been reviewed by environmental experts and filed with local authorities[86]. - The company promotes energy-saving measures and clean production practices to reduce carbon emissions and enhance energy efficiency[90]. - The company actively participates in social responsibility initiatives, including tax compliance and community support activities[97]. Corporate Governance - The company emphasizes stakeholder engagement and adheres to information disclosure obligations to protect shareholder rights[93]. - The company has established a comprehensive employee protection system, including signing labor contracts and providing social insurance, enhancing employee welfare and job satisfaction[95]. - The company has not faced any administrative penalties for environmental issues during the reporting period[89]. - The company has not engaged in any related party transactions during the reporting period[110]. - The financial report for the first half of 2023 was approved by the board on August 25, 2023[185]. - The company adheres to the Chinese Accounting Standards, ensuring the financial statements reflect a true and complete picture of its financial status[189].