JOINTAS(SZ:002909)2021-08-19 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥805,534,827.18, representing a 68.98% increase compared to ¥476,713,826.99 in the same period last year[19]. - The net profit attributable to shareholders decreased by 67.57% to ¥16,052,397.21 from ¥49,492,047.98 year-on-year[19]. - The net profit after deducting non-recurring gains and losses fell by 73.30% to ¥13,109,262.70 compared to ¥49,103,136.11 in the previous year[19]. - The net cash flow from operating activities was negative at -¥140,182,575.45, a decline of 302.60% from -¥34,819,630.13 in the same period last year[19]. - Basic earnings per share decreased by 67.41% to ¥0.0691 from ¥0.2120 year-on-year[19]. - Total assets increased by 4.32% to ¥1,720,303,837.73 from ¥1,649,087,552.24 at the end of the previous year[19]. - The net assets attributable to shareholders decreased by 4.58% to ¥821,381,503.87 from ¥860,795,882.28 at the end of the previous year[19]. - The company achieved a revenue of CNY 805.53 million in the reporting period, representing a year-on-year growth of 68.98%[57]. - The net profit attributable to shareholders was CNY 16.05 million, a decrease of 67.57% compared to the previous year[57]. - The second quarter revenue was CNY 510.16 million, reflecting a 44.94% increase year-on-year and a 72.71% increase from the first quarter[57]. Market Trends and Opportunities - The company specializes in the research, production, and sales of environmentally friendly sealants and coatings, with products widely used in various industries including construction, automotive, and electronics[27]. - The construction sealant market is expected to exceed 20 billion CNY in total output value in 2021, driven by increasing demand for high-quality and high-performance products[29]. - The market for prefabricated buildings is projected to grow significantly, with a target of 30% of new buildings being prefabricated by 2025, creating a strong demand for sealing materials[31]. - The LED lighting market is experiencing growth, with organic silicone materials increasingly replacing polyurethane in LED driver encapsulation due to superior performance[34]. - The company is positioned to benefit from the rising demand for new energy vehicles, as silicone adhesives are becoming essential materials for battery encapsulation and bonding[35]. - The power transformer market is witnessing a boom, with organic silicone materials gradually replacing epoxy resins due to their superior thermal management and aging resistance[36]. - The photovoltaic industry is experiencing robust growth, driven by the increasing demand for clean and efficient renewable energy, with a strategic goal of achieving a 20% share of non-fossil energy consumption by 2030[37]. Product Development and Innovation - The company has diversified its product offerings into four main categories of sealants: construction sealants, container sealants, automotive and marine sealants, and home decoration sealants[38]. - The electronic adhesive products, expanded through the acquisition of Zhao Shun Technology, include potting adhesives and silicone gels, targeting sectors such as LED lighting and new energy vehicles[41]. - The company’s photovoltaic module adhesive and junction box potting adhesive demonstrate excellent adhesion to materials like aluminum and glass, with superior weather resistance and insulation properties[43]. - The company’s sealants exhibit a wide range of applications, including fireproof and waterproof solutions for construction, automotive, and container industries[40]. - The company is focusing on developing new products and technologies to meet the stringent environmental regulations and market demands for low-VOC solutions[33]. - The company’s silicone sealants are designed to perform well under extreme temperatures, maintaining strength and elasticity from -40°C to 120°C[40]. - The company’s electronic adhesives are characterized by low viscosity and excellent corrosion resistance, suitable for various electronic applications[42]. - The company’s product development strategy includes enhancing the performance characteristics of its adhesives to meet the evolving needs of the automotive and electronics industries[41]. Financial Management and Investments - The cost of goods sold increased by 115.45% to ¥649,076,309.79, primarily due to increased sales volume and rising raw material prices[83]. - Research and development expenses rose by 71.88% to ¥29,322,439.30, reflecting a significant increase in direct investments during the reporting period[83]. - The gross profit margin decreased by 17.38% to 19.42%, attributed to the higher cost of goods sold outpacing revenue growth[84]. - The company reported a net cash outflow from operating activities of ¥140,182,575.45, a 302.60% increase compared to the previous year[83]. - Revenue from organic silicone sealants was ¥467,495,901.16, accounting for 58.03% of total revenue, with a year-on-year growth of 37.91%[84]. - Water-based coatings revenue surged by 179.03% to ¥189,991,889.20, driven by increased demand in the container market[84]. - The company has established long-term relationships with reliable suppliers, ensuring stable material supply channels for sealants and coatings[47]. - The company has formed long-term partnerships with major suppliers to ensure stable raw material supply and plans to adjust product prices based on market conditions[107]. Corporate Governance and Compliance - The company has not faced any administrative penalties for environmental issues during the reporting period and complies with national emission standards[121]. - The company emphasizes sustainable development, focusing on economic, social, and environmental benefits while enhancing employee welfare and safety[122]. - The company has not engaged in any major litigation or arbitration matters during the reporting period, indicating a stable legal standing[131]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period, reflecting financial integrity[128]. - The company has not faced any penalties or corrective actions during the reporting period, indicating compliance with regulations[132]. - The company has established a rural environmental protection association to enhance public awareness of nature conservation since 2004[123]. Shareholder Structure and Equity - The largest shareholder, Guangzhou Antai Chemical Co., Ltd., holds 40.02% of the shares, totaling 106,661,153 shares[184]. - The second-largest shareholder, Qiongqing Cheng Shengbang Investment Management Co., Ltd., holds 8.39% with 22,355,507 shares[184]. - The third-largest shareholder, Xinyu Jitai Huixin Investment Management Center, holds 4.88% with 13,000,007 shares[184]. - The total number of shares held by the top 10 shareholders includes significant stakes from various entities, with the top 10 holding a combined total of 172,000,000 shares[185]. - The report indicates that the company has a significant portion of shares under pledge, with 46,340,000 shares pledged by the largest shareholder[183]. - The shareholder structure indicates a concentration of ownership, with the top three shareholders holding over 53% of the total shares[184]. Employee and Social Responsibility - The company established scholarships of CNY 80,000 at South China University of Technology and CNY 50,000 at Hunan University to support innovative talent development[124]. - During the COVID-19 pandemic, the company donated cooling fans and supplies to local health authorities in Guangzhou, demonstrating its commitment to social responsibility[124]. - The company has actively supported education initiatives by providing scholarships to underprivileged students at various universities[124].