Drinda(SZ:002865)2022-07-19 16:00Financial Performance - The company's operating revenue for the first half of 2022 reached ¥4,426,609,551.17, representing a 644.28% increase compared to ¥594,749,554.82 in the same period last year[11]. - Net profit attributable to shareholders was ¥272,819,225.61, a significant turnaround from a loss of ¥34,753,691.19 in the previous year, marking an 885.01% increase[11]. - The net profit after deducting non-recurring gains and losses was ¥59,397,061.68, compared to a loss of ¥35,790,896.42 last year, reflecting a 265.96% increase[11]. - Basic earnings per share rose to ¥1.94 from a loss of ¥0.27, indicating an 818.52% improvement[11]. - The weighted average return on net assets increased to 22.75%, up 26.07 percentage points from -3.32% in the previous year[11]. - The company reported a total non-recurring profit and loss of 213,422,163.93, primarily from the disposal of assets related to the automotive trim business[14]. - The company reported a net profit contribution of CNY 8,772.48 million from its photovoltaic business during the reporting period[25]. - The total comprehensive income for the first half of 2022 was CNY 351,412,454.19, compared to CNY 163,216,198.11 in the same period of 2021[128]. - The company's operating profit for the first half of 2022 was CNY 377,020,891.17, a recovery from a loss of CNY 36,933,607.66 in the same period of 2021[125]. Assets and Liabilities - Total assets at the end of the reporting period were ¥6,028,400,600.00, a slight increase of 0.22% from ¥6,015,210,593.65 at the end of the previous year[11]. - Net assets attributable to shareholders increased by 35.54% to ¥1,357,843,308.78 from ¥1,001,828,893.56 at the end of the previous year[11]. - The total assets of the company as of June 30, 2022, were CNY 1,824,794,757.87, a decrease from CNY 2,824,202,122.19 at the end of 2021[123]. - The total liabilities decreased to CNY 602,620,469.18 from CNY 1,649,021,513.47, reflecting a reduction of approximately 63.4%[124]. - The total liabilities at the end of the reporting period were 569,558,772.92 CNY, indicating a stable financial structure[140]. Cash Flow - The net cash flow from operating activities was -¥33,221,564.70, a decline of 24.66% compared to -¥26,648,759.05 in the previous year[11]. - The company reported a cash inflow of CNY 376,225,478.81 from the disposal of subsidiaries and other business units in the first half of 2022[131]. - Cash inflow from financing activities reached CNY 1,255,970,492.00 in the first half of 2022, a substantial increase from CNY 173,228,480.56 in the first half of 2021[130]. - The cash flow from operating activities for the parent company was negative CNY 34,882,946.90 in the first half of 2022, compared to negative CNY 13,921,016.06 in the same period of 2021[131]. Business Operations - The company sold all assets related to its automotive trim business to Yang's Investment, completing the transaction in June 2022, and is now focusing on its photovoltaic main business[15]. - The photovoltaic main business is operated by its subsidiary, Jietai Technology, which has an annual production capacity of 8.8GW for monocrystalline large-size batteries and 8GW for N-type monocrystalline large-size batteries[15]. - The company aims to become a world-class photovoltaic technology company, leveraging its advanced production processes and equipment[15]. - The company plans to continue expanding its photovoltaic business, which is expected to drive future revenue growth[30]. - The company plans to increase its annual production capacity of monocrystalline PERC batteries from 8.2 GW to 8.8 GW through upgrades[27]. Research and Development - Research and development expenses surged to ¥126,435,136.31, marking a 328.11% increase from ¥29,533,501.53 in the prior year, attributed to the expansion into the photovoltaic sector[30]. - The company is committed to continuous R&D and technological innovation to maintain a competitive edge in the market[49]. - The company has implemented a "production generation, R&D generation, and reserve generation" strategy for its R&D management[50]. Environmental Management - The company has established a comprehensive environmental management system and a professional team for environmental protection, conducting regular safety and environmental meetings[63]. - The company’s wastewater treatment facilities are equipped with online monitoring systems to ensure real-time monitoring of pollutant emissions[63]. - The company has implemented an emergency response plan for environmental incidents, which has been filed with local environmental authorities[62]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[63]. Shareholder and Equity Information - The largest shareholder, Hainan Jindi Technology Investment Co., Ltd., holds 23.51% of the shares, totaling 33,272,139 shares, with 16,818,971 shares pledged[106]. - The company’s total share capital decreased from 121,681,436 shares to 120,897,436 shares due to the repurchase and cancellation of 784,000 restricted shares[113]. - The company’s stock price has been below the conversion price threshold, triggering conditions for a downward adjustment of the conversion price[114]. - The company has not issued any non-financial corporate debt financing instruments during the reporting period[113]. Risks and Challenges - The company faces potential risks in its future operations, which are detailed in the report[2]. - The company is facing risks from raw material price fluctuations, particularly for silicon wafers, which could impact procurement costs[49]. - The company has experienced increased competition in the photovoltaic industry, with a focus on maintaining competitive advantages through technological innovation and market expansion[47].